Mining contracts thread - comparison, experiences, FAQ

[kuverty]

First of all, I realize there are threads about this but my search did not find any good ones. So I am now asking for real experiences with these contracts; which are most reputable, which ones are scams, has it been profitable for you and so on. I will update this message with relevant information. In case of scam accusations and the like I will also include who made those accusations, for transparency. My intention is to provide a summary here with relevant information.

Will mBTC tip good answers, too. Let's gather all the info on mining contracts we can. All experiences and suggestions are welcomed!

[bonecoin]

This information is needed for people to make an informed decision about buying mining contracts. I have no experience mining but am interested in getting started. Here is some current information for 50GH/s 1 year contracts:

Cloudhashing Platinum- 10% management, 30% reinvestment
$3,999

Bitcoin Frenzy - 7.5% management, 25% reinvestment - Located in London
$1,999

E-pickaxe - no overhead fee, no reinvestment - located in Argentina
$1,500

When researching this i noticed many differences between contracts. First, not all companies have contracts for sale immediately, they are often future contracts to start production in next 1-4 months. Second, the fee structure is variable. Many companies charge a 10% administrative fee so that you do not get all of the bitcoins that are mined by your contract. Additionally, some contracts divert a percentage of Bitcoin revenue to reinvestment in new hardware. This allows the hashrate to increase over the term of the contract. Since the difficulty constantly increases this could provide more return.

This site http://bitcoindifficulty.com/ shows the increasing difficulty of mining Bitcoins over time.
http://bitcoin.sipa.be/speed-small-lin.png

This calculator (http://dustcoin.com/mining) gives immediate return as far as how many Bitcoins or other coins per day you can expect to mine with a given hashrate. So for 50Gh/s you can expect to mine 0.0213 Bitcoins per day. At $800 per Bitcoin, that works out to about $120 per week. For a $1500, 50Gh/s contract, the break even point is 83 days.

This calculator http://www.bitcoinx.com/profit/takes into account the increasing difficulty when calculating a return on investment. Plug in 0 for the power cost since you don't pay that for a mining contract. You have to deduct the overhead (usually 10%).
If the difficulty does not change, you would make back the contract price in under 15 weeks and the remainder of the year would be profit. The difficulty WILL increase and therefore the contract will be less profitable. According to their projections, the break even point given the same assumptions (50Gh/s for $1,500) is 94 days. So that is an additional 11 days of work to account for the increasing difficulty over that timeframe.

tips - 1KFcnVbomYX5twk4npdPd7WAGAPpVDc2u1

[MineOncloud]

Hello,

https://i.imgur.com/H4OnVY2.jpg

MineOnCloud was launched on november 2013

We do contract Sha - 256 and soon Scrypt, we use Asic 28nm very stable

You have 2 options:

-Day pass
-Year contract

You can choose your pool, and change every month for free with year contract.

We are on Ebay with 99% Feedback rating and power seller

We are implant in France

Start time is very fast average less 8 hours

And support on 24H/24H 7/7

Best Regards

Chriss

MineOnCloud.com

[windpath]

Unless you are betting that the price of Bitcoin will soar in the future I have not seen a single (edit: non-scam) cloud mining contract that will break even let alone produce a return.

I sold a 7 day contract on eBay a few weeks ago for 2 of my ants, it was auction style so it went for what the market would pay.

I made 18% more by renting them out then I would have if I mined on my own.

The buyer had a -18% return, and left great feedback

[MineOncloud]

If you buy short time contract

Its better to mine new ALT coin and you get more benefit.

But all mining contract don't offer choice of pool.

With www.mineoncloud.com you can mine where you want !

[skycoinlab]

Skycoinlab, we are based in Canada.
We offer Bitcoin and Litecoin cloud mining contracts, please visit us at https://www.skycoinlab.com

[PhoneBloks]

https://bitcointalk.org/index.php?topic=436832.msg6396547#msg6396547

Crycurex offers you Btc mining contracts for sale.

What is MN1 and MN1/BTC market ?

- Crycurex offers bitcoin mining contracts for sale.
- 1 mining contract represents mining power of 1GH/s.
- Owner of 1 or more mining contracts will get daily profit generated by mining of contract/s he owns.
- Profit will be automatically credited to owners Btc balance every day at 0:00 (GMT+1) time.
- Contract is lifetime, that means, owner will get daily shares every day he owns the contract


Initial price of 1 contract (equivalent of 1Gh/s mining power) is 0.0169 BTC Each
Fees for buying/selling is same as for other coins/markets: 0.09 % per trade

https://crycurex.com/markets/detail/15/



This exchange copied cryptsy MN1 contract but offers it for lower price

[gagalady]

PBmining.com I'm pretty new to this site but already using It like for a week, I should get my first payment soon. Payments are every weekend, also price per GH is pretty cheap too, so far they have a good reputation, disadvantage is that you can't resell your GH/s power.

[PhoneBloks]

PBmining.com I'm pretty new to this site but already using It like for a week, I should get my first payment soon. Payments are every weekend, also price per GH is pretty cheap too, so far they have a good reputation, disadvantage is that you can't resell your GH/s power.

Hm, resell availability is big advantage If you cant sell it thats not very good Your only chance is hope in stable "dividends" from it

[Minnlo]

PBmining.com I'm pretty new to this site but already using It like for a week, I should get my first payment soon. Payments are every weekend, also price per GH is pretty cheap too, so far they have a good reputation, disadvantage is that you can't resell your GH/s power.

Hm, resell availability is big advantage If you cant sell it thats not very good Your only chance is hope in stable "dividends" from it

Is cex.io the only cloudmining site that allows hashrate trading?

[PhoneBloks]

PBmining.com I'm pretty new to this site but already using It like for a week, I should get my first payment soon. Payments are every weekend, also price per GH is pretty cheap too, so far they have a good reputation, disadvantage is that you can't resell your GH/s power.

Hm, resell availability is big advantage If you cant sell it thats not very good Your only chance is hope in stable "dividends" from it

Is cex.io the only cloudmining site that allows hashrate trading?

As I wrote above.

There is also cryptsy and crycurex.com exchanges.

You can buy 1Gh/s of mining power (or more, depends of number of shares you buy) and get daily payouts in btc

At the current time, crycurex has lower prices about 10 %

[Minnlo]

PBmining.com I'm pretty new to this site but already using It like for a week, I should get my first payment soon. Payments are every weekend, also price per GH is pretty cheap too, so far they have a good reputation, disadvantage is that you can't resell your GH/s power.

Hm, resell availability is big advantage If you cant sell it thats not very good Your only chance is hope in stable "dividends" from it

Is cex.io the only cloudmining site that allows hashrate trading?

As I wrote above.

There is also cryptsy and crycurex.com exchanges.

You can buy 1Gh/s of mining power (or more, depends of number of shares you buy) and get daily payouts in btc

At the current time, crycurex has lower prices about 10 %

Oops, sorry missed your above post.

Am I understanding it correctly that 1GH/s on crycurex is 0.0169 while 1 GH/s on cex is 0.0078?

[PhoneBloks]

PBmining.com I'm pretty new to this site but already using It like for a week, I should get my first payment soon. Payments are every weekend, also price per GH is pretty cheap too, so far they have a good reputation, disadvantage is that you can't resell your GH/s power.

Hm, resell availability is big advantage If you cant sell it thats not very good Your only chance is hope in stable "dividends" from it

Is cex.io the only cloudmining site that allows hashrate trading?

As I wrote above.

There is also cryptsy and crycurex.com exchanges.

You can buy 1Gh/s of mining power (or more, depends of number of shares you buy) and get daily payouts in btc

At the current time, crycurex has lower prices about 10 %

Oops, sorry missed your above post.

Am I understanding it correctly that 1GH/s on crycurex is 0.0169 while 1 GH/s on cex is 0.0078?

yes but on cex you cant sell it right ?

And cryptsy and crycurex pay daily "mining profit" from thouse shares and cex does not right ?

Please correct me if Im wrong As Im not 100% sure how cex contracts work

[snarlpill]

yes but on cex you cant sell it right ?

And cryptsy and crycurex pay daily "mining profit" from thouse shares and cex does not right ?

Please correct me if Im wrong As Im not 100% sure how cex contracts work

CEX pays dividends per share whenever a block is solved by GHash.io, their mining pool. If you check blockchain.info, you will see that that is quite often. I used to have 60 GHs on CEX and I thoroughly enjoyed it. They are a trusted site and they get many blocks. And yes, like I said, with CEX dividends it is not once daily, but multiple times (closer to hourly than daily). And of course you can re-sell your purchased GHs! That is where many people make the most profit from- day trading GHs for profit. And of course you get whatever is mined while you hold them. Cex.io also has one of the lowest prices per GH, and future GHs available for much cheaper as well. Here is a link if anybody is interested: https://cex.io/r/0/snarlpill/0/

Currently I hold Mining Contract shares at Cryptsy, MN2 batch to be exact. Love Cryptsy, Very trusted and one of the best cryptocurrency trading platforms out there, in my opinion. If you want to sign up for Cryptsy, do it under my referral link and I'll send you 50 Dogecoin to get you started! Just sign up then PM me with your Cryptsy username! https://www.cryptsy.com/users/register?refid=232173

Good luck and Hope this helps,
snarlpill

[PhoneBloks]

yes but on cex you cant sell it right ?

And cryptsy and crycurex pay daily "mining profit" from thouse shares and cex does not right ?

Please correct me if Im wrong As Im not 100% sure how cex contracts work

CEX pays dividends per share whenever a block is solved by GHash.io, their mining pool. If you check blockchain.info, you will see that that is quite often. I used to have 60 GHs on CEX and I thoroughly enjoyed it. They are a trusted site and they get many blocks. And yes, like I said, with CEX dividends it is not once daily, but multiple times (closer to hourly than daily). And of course you can re-sell your purchased GHs! That is where many people make the most profit from- day trading GHs for profit. And of course you get whatever is mined while you hold them. Cex.io also has one of the lowest prices per GH, and future GHs available for much cheaper as well. Here is a link if anybody is interested: https://cex.io/r/0/snarlpill/0/

Currently I hold Mining Contract shares at Cryptsy, MN2 batch to be exact. Love Cryptsy, Very trusted and one of the best cryptocurrency trading platforms out there, in my opinion. If you want to sign up for Cryptsy, do it under my referral link and I'll send you 50 Dogecoin to get you started! Just sign up then PM me with your Cryptsy username! https://www.cryptsy.com/users/register?refid=232173

Good luck and Hope this helps,
snarlpill

Oh I didnt know that about CEX, so looks like their products are interested also. My current "investmens" are little bit different right now, and I have some mining shares bought for several months already so right now Im searching for another kind of investments like PHS coin ..at the moment (low price, 50 % yearly interest on held coins)

And thanks for cryptsy link, I am already client and I am satisfied with them too