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Author Topic: Best Cloud Mining?  (Read 174 times)
shapegray
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April 27, 2018, 02:36:17 PM
 #1

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.
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April 27, 2018, 02:43:22 PM
 #2

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Even if you would remove all the risks from cloud mining, the answer is still NO. Think about it, why would anybody ever "rent" out a mining contract to you, when they could use their own equipment to make even more money ? ( Since the mining contract would obviously make you profit, otherwise you wouldn't buy it.) That doesn't make any sense?

If you see a cloud mining site do this, giving you a huge contract for a really small price, chances are you're going to get scammed. Either by the site going down, or them limiting/downgrading your contract by x % every month.

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April 27, 2018, 02:43:49 PM
 #3

The only website I know that is currently legit is probably GenesisMining(for now, that is). Is it profitable though? Definitely not. Best case scenario is that you'd break-even. If you want to do mining, buy hardware instead. Chances are, none of those cloud mining crap is going to give you significant profit, or probably no profit at all; or worse, you end up losing money instead.

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April 27, 2018, 02:48:26 PM
 #4

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Even if you would remove all the risks from cloud mining, the answer is still NO. Think about it, why would anybody ever "rent" out a mining contract to you, when they could use their own equipment to make even more money ? ( Since the mining contract would obviously make you profit, otherwise you wouldn't buy it.) That doesn't make any sense?

If you see a cloud mining site do this, giving you a huge contract for a really small price, chances are you're going to get scammed. Either by the site going down, or them limiting/downgrading your contract by x % every month.
The only website I know that is currently legit is probably GenesisMining(for now, that is). Is it profitable though? Definitely not. Best case scenario is that you'd break-even. If you want to do mining, buy hardware instead. Chances are, none of those cloud mining crap is going to give you significant profit, or probably no profit at all; or worse, you end up losing money instead.
Thanks for the reply. I appreciate it. It looks like I'm going to spend money on investing.
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April 27, 2018, 05:34:13 PM
 #5

I was about to invest in cloud mining sites a few years ago but when I did for the research in this regard I found that most of the cloud mining sites either turn out into a scam or loss-making ventures so, in my opinion, it is not a wise idea to invest in cloud mining sites. In fact, Bitcoin mining is a serious professional business now and we should leave it for them who treat in that way. Just a simple example, there are multiple advertisements in Crypto related forums regarding re-selling cloud mining contracts, if the contacts are profitable then why would almost everyone is re-selling it?

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April 27, 2018, 07:34:06 PM
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I was about to invest in cloud mining sites a few years ago but when I did for the research in this regard I found that most of the cloud mining sites either turn out into a scam or loss-making ventures so, in my opinion, it is not a wise idea to invest in cloud mining sites. In fact, Bitcoin mining is a serious professional business now and we should leave it for them who treat in that way. Just a simple example, there are multiple advertisements in Crypto related forums regarding re-selling cloud mining contracts, if the contacts are profitable then why would almost everyone is re-selling it?

While I agree that most cloud companies, if not all, are trying to take advantage of their clients, the reselling might be explained. While some people are trading cryptocurrencies, others are trading mining contracts. I remember this being a thing back when Cex started their contract trading platform in 2014. You could as well ask why people who are aware of the predictions of BTC going above 20k USD are selling it.

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April 28, 2018, 09:22:13 AM
 #7

If you are interested in mining, you can play with CPU mining instead of cloud mining.  Recently there are many coins/tokens for CPU mining which do not require any special devices for mining.  You can mine them by your laptop or even cell phone.  Of course, most of (or maybe all of) CPU minings do not provide you significant benefits, but you can have a taste of mining easily without taking a risk of cloud mining. 
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April 28, 2018, 03:19:38 PM
 #8

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Too many new cloud mining companies popping out these days which cause the difficulty goes up significantly and mining profit becomes less and less, especially if you just have small hashrate. Hence, I won't recommend investing on a cloud mining, if you have money, better to buy mining equipment and build your own mining farm.
But, if you want to invest on a cloud mining, genesis mining seems better than other new cloud mining. Do your own due diligence before put the money on the line.

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April 28, 2018, 04:26:41 PM
 #9

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Too many new cloud mining companies popping out these days which cause the difficulty goes up significantly and mining profit becomes less and less, especially if you just have small hashrate. Hence, I won't recommend investing on a cloud mining, if you have money, better to buy mining equipment and build your own mining farm.
But, if you want to invest on a cloud mining, genesis mining seems better than other new cloud mining. Do your own due diligence before put the money on the line.

Just purchase your hardware and store them with us. Its almost same as cloud mining except you will own the hardware. www.teslawatt.com

www.teslawatt.com
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April 28, 2018, 08:34:33 PM
 #10

The only thing is the best is to invest money in your own hardware and mine with your own so that you are far from any scam.
there are many low rank or newbies here are not trusted they are always attempting to give not trusted sites.

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Too many new cloud mining companies popping out these days which cause the difficulty goes up significantly and mining profit becomes less and less, especially if you just have small hashrate. Hence, I won't recommend investing on a cloud mining, if you have money, better to buy mining equipment and build your own mining farm.
But, if you want to invest on a cloud mining, genesis mining seems better than other new cloud mining. Do your own due diligence before put the money on the line.

Just purchase your hardware and store them with us. Its almost same as cloud mining except you will own the hardware. www.teslawatt.com
Not a good idea unless if you are near to them.



"If money was being invented now, it wouldn't be designed to look like cash or credit cards. It would look more like Bitcoin."
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April 28, 2018, 08:43:04 PM
 #11

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Too many new cloud mining companies popping out these days which cause the difficulty goes up significantly and mining profit becomes less and less, especially if you just have small hashrate. Hence, I won't recommend investing on a cloud mining, if you have money, better to buy mining equipment and build your own mining farm.
But, if you want to invest on a cloud mining, genesis mining seems better than other new cloud mining. Do your own due diligence before put the money on the line.

There used to be even more of them appearing every month when people didn't know that it's a scam. And because of the huge competition they had much better sites and even nice looking custom API to control the miners. The only thing they were and are still doing wrong is projected ROI time. They used to make up numbers like 300% a month which is stupid and gives away their true intentions. 

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April 28, 2018, 09:33:57 PM
 #12

The only thing is the best is to invest money in your own hardware and mine with your own so that you are far from any scam.
there are many low rank or newbies here are not trusted they are always attempting to give not trusted sites.

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Too many new cloud mining companies popping out these days which cause the difficulty goes up significantly and mining profit becomes less and less, especially if you just have small hashrate. Hence, I won't recommend investing on a cloud mining, if you have money, better to buy mining equipment and build your own mining farm.
But, if you want to invest on a cloud mining, genesis mining seems better than other new cloud mining. Do your own due diligence before put the money on the line.

Just purchase your hardware and store them with us. Its almost same as cloud mining except you will own the hardware. www.teslawatt.com
Not a good idea unless if you are near to them.


Why you need to be near your hosting colocation? Just order directly to datacenter address.

www.teslawatt.com
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April 28, 2018, 09:37:07 PM
 #13

Don't waste your time with cloud mining. Why would someone offer to mine for you if they could make more mining themselves? Cloud mining is almost always a negative EV and you are locked into long contracts. The network difficulty is only increasing and people are getting burned by these contracts.

If you want to invest in a coin you either mine it with your own hardware or just buy the coin and hold.
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April 28, 2018, 09:41:07 PM
 #14

I just want to ask, is cloud mining worth than investing or mining? Can you recommend a Could Mining Website that LEGIT.

Even if you would remove all the risks from cloud mining, the answer is still NO. Think about it, why would anybody ever "rent" out a mining contract to you, when they could use their own equipment to make even more money ? ( Since the mining contract would obviously make you profit, otherwise you wouldn't buy it.) That doesn't make any sense?

If you see a cloud mining site do this, giving you a huge contract for a really small price, chances are you're going to get scammed. Either by the site going down, or them limiting/downgrading your contract by x % every month.
This is the best answer for the question in the op as describe the loopholes in the cloud mining investment. I would like to mention all the ICOs for cloud mining projects that are trying to convaince people about benefits from investment and how they quiqly turned into great scams in few time. Be aware from this type of projects; they are not legit in logic terms.

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April 28, 2018, 09:54:26 PM
 #15

Thanks for the reply. I appreciate it. It looks like I'm going to spend money on investing.
You have to spend money if you want to invest but you better choose something better and the risk is calculated unlike in cloud mining, you may fall to a scam if you are too greedy enough.

Suggested by others on how it is not profitable anymore to invest in a cloud mining site, why not try to invest in trading of altcoins?

If you want to invest in a coin you either mine it with your own hardware or just buy the coin and hold.
If his budget isn't enough for buying his set of hardware better to stick with trading (buying and holding).

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April 29, 2018, 06:47:51 AM
 #16

i have very old contracts on Genesis mining becourse the are open End but i rould not recommand you to use cloud miners buy  the coins direct on exchanges !



regards

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April 30, 2018, 03:29:26 AM
 #17

The only thing is the best is to invest money in your own hardware and mine with your own so that you are far from any scam.
there are many low rank or newbies here are not trusted they are always attempting to give not trusted sites.

Just purchase your hardware and store them with us. Its almost same as cloud mining except you will own the hardware. www.teslawatt.com
Not a good idea unless if you are near to them.


Why you need to be near your hosting colocation? Just order directly to datacenter address.
[/quote]

People aware of "something new" offers to invest to them, no offense but including what you propose above.
First, you have to prove it is legit, trusted, have reputation and some reviews from "trusted" people.
Do you an ANN thread about teslawatt service?
Have checked the site, can you explain this?
TeslaWatt 5 kW
$600/month
NEMA L6-30R outlet
Max Load 5 kW
208v @30 amps
1-Phase
Tripp Lite basic PDU -
PDU1230 - Setup fee $0
Trip-Lite Switched PDU –
PDUMH30HVNET - Setup fee $200


is it $600/month earning?
What about setup fee $200?

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April 30, 2018, 03:48:45 AM
 #18

Quote

People aware of "something new" offers to invest to them, no offense but including what you propose above.
First, you have to prove it is legit, trusted, have reputation and some reviews from "trusted" people.
Do you an ANN thread about teslawatt service?
Have checked the site, can you explain this?
TeslaWatt 5 kW
$600/month
NEMA L6-30R outlet
Max Load 5 kW
208v @30 amps
1-Phase
Tripp Lite basic PDU -
PDU1230 - Setup fee $0
Trip-Lite Switched PDU –
PDUMH30HVNET - Setup fee $200


is it $600/month earning?
What about setup fee $200?

Setup fee is only if you want different PDU. More advance PDU for example with "outlet control". Meaning remote reboot.
Otherwise we can offer you PDU1230 - https://www.tripplite.com/4.8-5.8kw-single-phase-basic-pdu-200-240v-outlets-16-c13-4-c19-l6-30p-15ft-cord-1u-rack-mount~PDU1230
Included in the price. No Setup fee. We also include repairs, support, insurance etc.
$600 is monthly fee for 5 kW.

Also we are legit. You can visit us anytime.
Please check our LLC registration https://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=ah6egcCB7iTouBt%252b%252bq3xQA%253d%253d&nt7=0
Also we own property where is our DataCenter: http://assessor-search.douglasnv.us:1401/cgi-bin/asw101?Parcel=122003411024&aori=a

Its all public now. You don't have to search too much to figure it out who is scam who is legit.

www.teslawatt.com
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April 30, 2018, 07:21:48 AM
 #19

Okay so, I see how people here are against cloud mining, but let me tell you this. You can profit from cloud mining, you can profit a small amount, but you still get some income!

Not everyone is a scammer!!! There are honest companies who are seriously selling contracts to get involved in this market, to make profit and to collect customers. For me, the most legit and best cloud mining service provider is Bitforx. Their prices are great, litecoin was just added to their platform and they have the lowest price on that so you can go ahead and buy that if you want to. Besides this they have a great customer service!!! I mean GREAT! and don't get me started about their mining farm!!

Anyway, for me it is Bitforx. I have tried several different cloud mining service providers. I got profit, I lost money and I got too little income, but that is only because of the changes on market! Everything depends on the prices, on the changes that crypto market has!

Yes! cloud mining may not be as profitable as physical mining, but you are still mining, even if you're getting less than if you mined coin yourself. I don't want to bear the noise of a mining machine, or find a place to put it there. I feel comfortable and safe with cloud mining. that is my opinion!
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April 30, 2018, 09:38:44 AM
 #20

Okay so, I see how people here are against cloud mining, but let me tell you this. You can profit from cloud mining, you can profit a small amount, but you still get some income!
We just learned from our past experiences and we don't want others to experience it too. After I became a victim of a cloud mining when I was still newbie, I never invested to it again.

Not everyone is a scammer!!! There are honest companies who are seriously selling contracts to get involved in this market, to make profit and to collect customers. For me, the most legit and best cloud mining service provider is Bitforx.
This is what also those scammers said before, they are honest, they are trustworthy, they are legit and real company.

Nice try of advertising that cloud mining to everyone here but it looks like after reading their ANN thread tells more about it.

To anyone that will be encouraged, be careful.



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