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praeclarus
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February 19, 2014, 09:58:13 PM
 #1

How to know if a cloud mining is profitable?

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HellDiverUK
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February 20, 2014, 09:28:34 PM
 #2

How to know if a cloud mining is profitable?

Mine on it, see if you profit.   Huh

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bazzanii
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February 22, 2014, 02:34:43 PM
 #3

It is the best option for most investors and hobbyists as they want us to think. But masters  of mining know that it is a sure way to lose your money. As price of one GH/S at CEX.IO is $35 now, Cointerra offers 1 GH/S for $3, it is not profitable to use cloud mining
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February 24, 2014, 11:29:59 PM
 #4

How to know if a cloud mining is profitable?

sure it is if you spend a lot Smiley

all depends how much you want to earn Smiley

you can calculate your profit Smiley

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ClessMeister
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February 24, 2014, 11:31:55 PM
 #5

How to know if a cloud mining is profitable?

You should test and see it yourself.

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February 24, 2014, 11:47:39 PM
 #6

How to know if a cloud mining is profitable?

You should test and see it yourself.

you can just calculate and d not waste time on "give it a try" Smiley


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ClessMeister
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February 26, 2014, 03:52:56 AM
 #7

How to know if a cloud mining is profitable?

You should test and see it yourself.

you can just calculate and d not waste time on "give it a try" Smiley



Calculations are only showing the way that it could be. Not the real results as depending on pool & luck. Cool

oztusk
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March 04, 2014, 05:58:13 PM
 #8

Sminers'  ddos notice?.... looks like a gox style 'we're working on it' type of thing.
I'll take a look in a week and see how many howling customers they left in the dust, if so.

<<<   "MY DOG ATE YOUR BITCOIN"..mtGox - - "MY DOG IS EATING YOUR BITCOIN"...Antpool - - "We were drinking espresso with shots of vodka at this little cafe. My laptop was on the table. This big dog came up behind us and,.. and..." ...nicehash     ANTMINER is currently servicing 20-30% of the entire network hash rate. Enenatis. Quis interdum ac, aliquet nec est. www.bitmaintech.com Euismod risus sed, venenatis tellus. Aliquam vel. Spontaneous emission is not inherent to an emitter, but rather depends on its electromagnetic environment.        "THE DOG ATE YOUR BITCOIN"..mtGox
-ck
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March 04, 2014, 11:33:13 PM
 #9

How to know if a cloud mining is profitable?
It is always profitable for the cloud and almost never for the miner. Genius business model; dunno why people keep throwing their money at it but I guess they repeatedly count on people not understanding diff and mining - and it seems to work every time.

Primary developer/maintainer for cgminer and ckpool/ckproxy.
ZERO FEE Pooled mining at ckpool.org 1% Fee Solo mining at solo.ckpool.org
-ck
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March 05, 2014, 12:04:30 AM
 #10

How to know if a cloud mining is profitable?
It is always profitable for the cloud and almost never for the miner. Genius business model; dunno why people keep throwing their money at it but I guess they repeatedly count on people not understanding diff and mining - and it seems to work every time.

Well I can almost totally agree to this one as my income on Cloud comes from intensive trading almost all day long for the maximum profit. For only mining purpose I would not recommend at all.

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March 06, 2014, 07:25:28 PM
 #11

Give it a try and you'll see.
For now i'm trying

http://scrypt.cc?ref=baars

No stuff to install, and hashing starts instantly !
Scrypt hashes but payments in bitcoins every 10mins, so no trading to do.

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March 07, 2014, 10:18:59 PM
 #12

How to know if a cloud mining is profitable?
It is always profitable for the cloud and almost never for the miner. Genius business model; dunno why people keep throwing their money at it but I guess they repeatedly count on people not understanding diff and mining - and it seems to work every time.
'almost never'...   I guess the time when it's profitable for the user would be when they 'resell' that bandwidth?  I believe you can do that on at least one of these places that charges the nosebleed prices

ed: re, post above mine, gg ref link

Dacentec Dedicated Servers (Lenoir, NC, USA) from $25/mo & Time4VPS Storage VPS' (Vilnius, Lithuania) from €18/qtr & Hetzner's serverbidding, from ~€20/mo -- had bitcoin nodes & p2pool (dacentec, hetzner) for several years on these.  Only two are affiliate links too, kek! -------  Feel free to join my G2A Goldmine Pyramid Scheme Team, or possibly even buy a Steam game from there.  Maybe.
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March 08, 2014, 05:37:58 PM
 #13

I am also confused about cloud mining being profitable.According to what I have read there are two different point of view on it. So you'd better to try yourself if you have a possibility
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March 08, 2014, 06:44:04 PM
 #14

Cloud mining on PBMining has worked well for me
- 0.0089BTC/GHs. price adjusted at difficulty changes
- Weekly payouts
- Good customer service
- Refferal program

5 Year Mining Contracts at PBMining: 0.0089 BTC/GHs!
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March 08, 2014, 06:48:54 PM
 #15

Cloud mining on PBMining has worked well for me
- 0.0089BTC/GHs. price adjusted at difficulty changes
- Weekly payouts
- Good customer service
- Refferal program

5 Year Mining Contracts at PBMining: 0.0089 BTC/GHs!

Uh, maybe if that 0.0089BTC per GH (!) is for two years?...   in one year you should expect to net about $5 from it.

ed:  Oh, I see... it's 5 years.  OK, then it's about break even... you'd earn next to nothing in years 2-5, but it should be enough to cover the initial cost...

well, not really, because of inflation and better investment opportunities

not to mention the huge leap involved in assuming this place will be around for 5 years

ed2:  if it was more profitable to use it then to sell it to chumps, that's what they would do.  just sayin.

Dacentec Dedicated Servers (Lenoir, NC, USA) from $25/mo & Time4VPS Storage VPS' (Vilnius, Lithuania) from €18/qtr & Hetzner's serverbidding, from ~€20/mo -- had bitcoin nodes & p2pool (dacentec, hetzner) for several years on these.  Only two are affiliate links too, kek! -------  Feel free to join my G2A Goldmine Pyramid Scheme Team, or possibly even buy a Steam game from there.  Maybe.
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March 08, 2014, 07:56:41 PM
 #16

Cloud mining on PBMining has worked well for me
- 0.0089BTC/GHs. price adjusted at difficulty changes
- Weekly payouts
- Good customer service
- Refferal program

5 Year Mining Contracts at PBMining: 0.0089 BTC/GHs!

Uh, maybe if that 0.0089BTC per GH (!) is for two years?...   in one year you should expect to net about $5 from it.

ed:  Oh, I see... it's 5 years.  OK, then it's about break even... you'd earn next to nothing in years 2-5, but it should be enough to cover the initial cost...

well, not really, because of inflation and better investment opportunities

not to mention the huge leap involved in assuming this place will be around for 5 years

ed2:  if it was more profitable to use it then to sell it to chumps, that's what they would do.  just sayin.

using http://bitcoinwisdom.com/bitcoin/calculator
Diff increase +20%/increase
Pool fee 0%
Power usage 0
GHs price 0.0089

That gives you a ROI @ about end of this year.

It looks like next diff change is going to be ~10% so that helps shortening the ROI a little bit
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March 09, 2014, 05:15:00 AM
 #17

Cloud mining on PBMining has worked well for me
- 0.0089BTC/GHs. price adjusted at difficulty changes
- Weekly payouts
- Good customer service
- Refferal program

5 Year Mining Contracts at PBMining: 0.0089 BTC/GHs!

Uh, maybe if that 0.0089BTC per GH (!) is for two years?...   in one year you should expect to net about $5 from it.

ed:  Oh, I see... it's 5 years.  OK, then it's about break even... you'd earn next to nothing in years 2-5, but it should be enough to cover the initial cost...

well, not really, because of inflation and better investment opportunities

not to mention the huge leap involved in assuming this place will be around for 5 years

ed2:  if it was more profitable to use it then to sell it to chumps, that's what they would do.  just sayin.

using http://bitcoinwisdom.com/bitcoin/calculator
Diff increase +20%/increase
Pool fee 0%
Power usage 0
GHs price 0.0089

That gives you a ROI @ about end of this year.

It looks like next diff change is going to be ~10% so that helps shortening the ROI a little bit

your difficulty adjustments are way off.  +20%?  over what?  a month?

if you look at the last 6 months, the average is more like 60%.

that gives you a little over $1 in 12 months (*or more like $3, it'd be $1 if you started next month)

i was being generous with the difficulty level earlier.   i guess we can be generous again and say that the current difficulty still has 2 more weeks.  you'll make $1.25.  after that, you'll make 0.9375, then 0.70, then 0.53, 0.395, 0.296, 0.22, 0.167, 0.125, 0.093, 0.07, 0.053, 0.04, etc.  So, no, you never make your money back.

and even if you did just barely manage it, you'd be better off investing in something else.

(& just looked at first 8 days of current diff level, looks like a 20-25% hike to me)

Dacentec Dedicated Servers (Lenoir, NC, USA) from $25/mo & Time4VPS Storage VPS' (Vilnius, Lithuania) from €18/qtr & Hetzner's serverbidding, from ~€20/mo -- had bitcoin nodes & p2pool (dacentec, hetzner) for several years on these.  Only two are affiliate links too, kek! -------  Feel free to join my G2A Goldmine Pyramid Scheme Team, or possibly even buy a Steam game from there.  Maybe.
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March 09, 2014, 08:46:53 AM
 #18

Cloud mining on PBMining has worked well for me
- 0.0089BTC/GHs. price adjusted at difficulty changes
- Weekly payouts
- Good customer service
- Refferal program

5 Year Mining Contracts at PBMining: 0.0089 BTC/GHs!

Uh, maybe if that 0.0089BTC per GH (!) is for two years?...   in one year you should expect to net about $5 from it.

ed:  Oh, I see... it's 5 years.  OK, then it's about break even... you'd earn next to nothing in years 2-5, but it should be enough to cover the initial cost...

well, not really, because of inflation and better investment opportunities

not to mention the huge leap involved in assuming this place will be around for 5 years

ed2:  if it was more profitable to use it then to sell it to chumps, that's what they would do.  just sayin.

using http://bitcoinwisdom.com/bitcoin/calculator
Diff increase +20%/increase
Pool fee 0%
Power usage 0
GHs price 0.0089

That gives you a ROI @ about end of this year.

It looks like next diff change is going to be ~10% so that helps shortening the ROI a little bit

your difficulty adjustments are way off.  +20%?  over what?  a month?

if you look at the last 6 months, the average is more like 60%.

that gives you a little over $1 in 12 months (*or more like $3, it'd be $1 if you started next month)

i was being generous with the difficulty level earlier.   i guess we can be generous again and say that the current difficulty still has 2 more weeks.  you'll make $1.25.  after that, you'll make 0.9375, then 0.70, then 0.53, 0.395, 0.296, 0.22, 0.167, 0.125, 0.093, 0.07, 0.053, 0.04, etc.  So, no, you never make your money back.

and even if you did just barely manage it, you'd be better off investing in something else.

(& just looked at first 8 days of current diff level, looks like a 20-25% hike to me)

the 20% i have used is +20%/ difficulty change
http://bitcoinwisdom.com/bitcoin/difficulty says +12,54% at next change and http://allchains.info/ says +9,09% for next change
so I would assume it is 10-12%
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March 20, 2014, 06:52:18 PM
 #19

Good thread, now I can see why there is less people who are willing to join pools
Is it difficult to mine by yourself?
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March 20, 2014, 10:36:11 PM
 #20

Good thread, now I can see why there is less people who are willing to join pools
Is it difficult to mine by yourself?


Well... less profitable.

p2pool is great invention and just if pool are good and nice for users - p2pool rules and no mather what is more profitable than solo mining.

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