What do yall think about Cloud mining?

[blamblooga]

I've been doing it for a few days now and i like it.

You buy you own GH/s and it's just mines instantly through their miner. (Ghash.io)

Not really much info on the site but to make money if your good at trading you can
Flip the GH/s for BTC.

Say it drops to 0.064000000 per GH/s well invest in 500 dollars worth,
Wait for the spike normally around 0.068000000 average, and just sell then.

It can be both Shot-term and Long-term trading, whatever stratedgy you
use is completely up to you.
 
You can also earn GH/s by reffering other people, you earn %3 of there GH/s
balance. Which i got like 7.0 MH/s for reffering a few people lol. Not much but it's free.

But yea let me know what you all think about it what stuff.

If you wanna sign up: https://cex.io (MOD NOTE - referral link removed)


There's by earings for about 5 clicks and 5 minutes worth of my time.
http://cex.io/informer-small/KlownKillaz/0033d31cadd0213d0712f973b5409056/

[rarkenin]

7.96 isn't going to do you much. I cautiously purchased .414 GHS and tried it, I got roughly 8 US cents so far having mined all day. Anyway, here's mu little bar they gave me:

[minifrij]

I quite honestly think that CEX is really good, I am just reinvesting to 1Gh at the moment.


E: Oh, it's one of these guys' threads. God damnit.

[eternaluniverse]

would this be better as to opposed to adding a hub and more usb block erupters to my rig?

[Gator-hex]

Can you stop spamming adverts just because you're on commission with Gex.IO  

Cloud hosting will ultimately kill Bitcoin because once one of you reaches 51% it's game over for network integrity!

Bitcoin can only survive as distributed network.

[zosi]

Can anyone explain the benefit of this to me like if I was 5? It currently costs around 72 bucks per Ghs, why is it better than buying your own hardware?

[odolvlobo]

Can anyone explain the benefit of this to me like if I was 5? It currently costs around 72 bucks per Ghs, why is it better than buying your own hardware?

It is more convenient. It is also a game for suckers. Most of the people that buy cex.io shares at this price will lose money. You will never break even mining because the price is too high. The price keeps dropping, so you are not likely to make your money back by the selling shares either.

The only reason you see people praising it is because they are trying to reduce their losses or they are trying to make money by spamming referrals, like the OP here.

[zimmah]

Cex.io is very expensive, cloud mining is pretty nice because you don't need to worry maintaining your own rigs but it does come at a price.

[zosi]

yea thats what i thought, thanks for the insight.

[mindfulmojo]

Can you stop spamming adverts just because you're on commission with Gex.IO  

Cloud hosting will ultimately kill Bitcoin because once one of you reaches 51% it's game over for network integrity!

Bitcoin can only survive as distributed network.

The mining pool of ghash.io is in the top three, most of this actually doesn't come from their cloud mining services.

[Telstar]

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