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Author Topic: Cloud mining  (Read 6601 times)
bitManXD
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March 21, 2014, 02:52:05 AM
 #21

How to know if a cloud mining is profitable?

Mine on it, see if you profit.   Huh

Seems legit
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dua98222
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March 21, 2014, 04:43:40 PM
 #22

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!

5 years ? in this type of business ? While the price is smaller than the price on cex.io at least you can trade the Gh when a more profitable solution appears on the market. Paying for a 5 year contract is crazy and seems to be designed to attract noobs.

Mine over matter.
ClessMeister
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June 05, 2014, 08:10:22 PM
 #23

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!

5 years ? in this type of business ? While the price is smaller than the price on cex.io at least you can trade the Gh when a more profitable solution appears on the market. Paying for a 5 year contract is crazy and seems to be designed to attract noobs.

The time you buy the hashes is 5-years and it is the cheapest hashes on net. Nothing to do with n00b attraction, just to sell cheap hashes for everyone wanting to cloudhash instead of own hardware. You get yours after every week's sunday.


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June 05, 2014, 08:47:23 PM
 #24

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!

5 years ? in this type of business ? While the price is smaller than the price on cex.io at least you can trade the Gh when a more profitable solution appears on the market. Paying for a 5 year contract is crazy and seems to be designed to attract noobs.

The time you buy the hashes is 5-years and it is the cheapest hashes on net. Nothing to do with n00b attraction, just to sell cheap hashes for everyone wanting to cloudhash instead of own hardware. You get yours after every week's sunday.



Since we're living in fantasy land, cryptsy's are 'lifetime', 'lifetime' > 5 years

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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June 06, 2014, 12:44:08 AM
 #25

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!

5 years ? in this type of business ? While the price is smaller than the price on cex.io at least you can trade the Gh when a more profitable solution appears on the market. Paying for a 5 year contract is crazy and seems to be designed to attract noobs.

The time you buy the hashes is 5-years and it is the cheapest hashes on net. Nothing to do with n00b attraction, just to sell cheap hashes for everyone wanting to cloudhash instead of own hardware. You get yours after every week's sunday.



Since we're living in fantasy land, cryptsy's are 'lifetime', 'lifetime' > 5 years

Don't know who's living in fantasy land but as the talk was about cloud hashing, just gave the fact of cheapest cloud hashing service. I prefer using own hardware and everyone does what they will.

ShakyhandsBTCer
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June 14, 2014, 02:46:36 AM
 #26

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!

5 years ? in this type of business ? While the price is smaller than the price on cex.io at least you can trade the Gh when a more profitable solution appears on the market. Paying for a 5 year contract is crazy and seems to be designed to attract noobs.

The time you buy the hashes is 5-years and it is the cheapest hashes on net. Nothing to do with n00b attraction, just to sell cheap hashes for everyone wanting to cloudhash instead of own hardware. You get yours after every week's sunday.



Since we're living in fantasy land, cryptsy's are 'lifetime', 'lifetime' > 5 years

For mining lifetime will likely be much less then 5 years.

In 5 years having 1 TH/s of capacity would likely generate next to nothing on even a monthly basis.
joshraban76
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June 14, 2014, 05:36:32 PM
 #27

The best answer to know anything is to try.

And, use profit calculator to see if you are making profit or not.

And, google as well to know if the cloud miner sites are scam or not.

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ShakyhandsBTCer
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June 15, 2014, 05:57:08 AM
 #28

The best answer to know anything is to try.

And, use profit calculator to see if you are making profit or not.

And, google as well to know if the cloud miner sites are scam or not.

You should not need to have to try something if you are investing your money in it.

Google is not always able to tell you for sure what is legit and what is not.
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June 15, 2014, 08:49:05 AM
 #29

Cloud mining is what's called a confidence trick. Apparently many people aren't aware of how that works so here's a wikipedia article: https://en.wikipedia.org/wiki/Long_con

Basically they gain your confidence by giving you regular payouts, if you're lucky it will be close to what you first put in, and then once they have gained your confidence, you will be eager to invest more, which they can then use to pay off new users (some of whom you probably bring them by referrals ) until they reach what they consider to be a nice amount to run off with. The longer they keep the con going the more they can make off with in the end. Almost all of these operations are run by people who will never reveal their identity, won't show pictures or any sort of proof that they have mining equipment, and if you question them a little to look for proof, they will probably just say something to the effect of "well everyone whos already with us is getting paid and happy so if you don't trust us you are free to go elsewhere, we don't really need your business". PBMining is a great example of a well executed and still running longcon (i don't expect it to last 5 years, but if they do good for them) , Markets.cx is a not as long term example because it only lasted a month or so, but it's operators still got away with lots of money without ever having tor prove who they where, or that they had any equipment, they just said "we're cex.io for litecoin" and people hopped right on in thinking they would trade ghs (or mhs i suppose) and get a great deal... nope Chuck Testa.

Cex.io is probably legit in the sense that they have hardware. You can even redeem it from them, though i imagine anyone who is willing to pay such a premium has no idea how to actually use the hardware if they got it. So their confidence trick isn't so much about running off with peoples funds, but getting those funds so they can buy more hardware to use for themselves.  Which is a pretty honest con, but still a con.

If you really wanted to mine without having your own hardware, the best options out there are to rent hashing power directly from intendant miners, who sell them on markets like http://nicehash.com and http://betarigs.com. These services allow you to rent hashing power for hourly, daily, or weekly shifts, So you don't have to wait a year to see if you'll profit. You'll still have to pay what the market price is, but its usually fairly close to what they would be expected to earn back in that time period and you're buying it is more to lessen the risk of the miner whos selling it (because you can earn more or less than they would depending on what pool you use and how lucky it is that day). You won't make a living off it, but you'll probably make a small profit if you have patience and buy when the market rates are lower.  I don't call these services "cloud mining" because you actually get control over what pool they mine, and you are usually renting from independent mining equipment owners and smaller farm operations, and that sets them apart from the cloud operators in my book. They are just "rentals" like you could rent a car or a truck, use it for the day and then give it back. If you keep renting cars all day every day its way cheaper to buy a car, but if your just looking to move a couch over the weekend its probably a better idea to go to uhaul instead of a dealership.

TLDR: try http://betarigs.com, you can test them out for a day or less and see if you make a profit, and if you don't that money at least goes to an independent miner somewhere and you aren't out a whole bunch of money.
ShakyhandsBTCer
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June 15, 2014, 08:06:52 PM
 #30

Cloud mining is what's called a confidence trick. Apparently many people aren't aware of how that works so here's a wikipedia article: https://en.wikipedia.org/wiki/Long_con

Basically they gain your confidence by giving you regular payouts, if you're lucky it will be close to what you first put in, and then once they have gained your confidence, you will be eager to invest more, which they can then use to pay off new users (some of whom you probably bring them by referrals ) until they reach what they consider to be a nice amount to run off with. The longer they keep the con going the more they can make off with in the end. Almost all of these operations are run by people who will never reveal their identity, won't show pictures or any sort of proof that they have mining equipment, and if you question them a little to look for proof, they will probably just say something to the effect of "well everyone whos already with us is getting paid and happy so if you don't trust us you are free to go elsewhere, we don't really need your business". PBMining is a great example of a well executed and still running longcon (i don't expect it to last 5 years, but if they do good for them) , Markets.cx is a not as long term example because it only lasted a month or so, but it's operators still got away with lots of money without ever having tor prove who they where, or that they had any equipment, they just said "we're cex.io for litecoin" and people hopped right on in thinking they would trade ghs (or mhs i suppose) and get a great deal... nope Chuck Testa.

Cex.io is probably legit in the sense that they have hardware. You can even redeem it from them, though i imagine anyone who is willing to pay such a premium has no idea how to actually use the hardware if they got it. So their confidence trick isn't so much about running off with peoples funds, but getting those funds so they can buy more hardware to use for themselves.  Which is a pretty honest con, but still a con.

If you really wanted to mine without having your own hardware, the best options out there are to rent hashing power directly from intendant miners, who sell them on markets like http://nicehash.com and http://betarigs.com. These services allow you to rent hashing power for hourly, daily, or weekly shifts, So you don't have to wait a year to see if you'll profit. You'll still have to pay what the market price is, but its usually fairly close to what they would be expected to earn back in that time period and you're buying it is more to lessen the risk of the miner whos selling it (because you can earn more or less than they would depending on what pool you use and how lucky it is that day). You won't make a living off it, but you'll probably make a small profit if you have patience and buy when the market rates are lower.  I don't call these services "cloud mining" because you actually get control over what pool they mine, and you are usually renting from independent mining equipment owners and smaller farm operations, and that sets them apart from the cloud operators in my book. They are just "rentals" like you could rent a car or a truck, use it for the day and then give it back. If you keep renting cars all day every day its way cheaper to buy a car, but if your just looking to move a couch over the weekend its probably a better idea to go to uhaul instead of a dealership.

TLDR: try http://betarigs.com, you can test them out for a day or less and see if you make a profit, and if you don't that money at least goes to an independent miner somewhere and you aren't out a whole bunch of money.

This plus the fact that the mining capacity is almost always overpriced when compared to rates you can get buying miners elsewhere.
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September 02, 2014, 08:49:57 PM
 #31

How many Cloud mining services there are?
and what their ROI ?

1. BTCjam: Mining and trading loan #4 https://goo.gl/rwj84u , 2. Scrypt.cc Cloud Mining with 120 Days ROI http://goo.gl/LXomWh ,
3. Haas Bot Trade your Cryptos http://goo.gl/unM0TF , 4. Bitgold Invest to BTC & Gold http://goo.gl/7T3K6O
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September 02, 2014, 09:48:38 PM
 #32

How many Cloud mining services there are?
A lot
and what their ROI ?
Negative

Jonny's Pool - Mine with us and help us grow!  Support a pool that supports Bitcoin, not a hardware manufacturer's pockets!  No SPV cheats.  No empty blocks.
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September 02, 2014, 10:19:52 PM
 #33

so say away from cloud mining ?
there are other algorithms like scrypt

is any scrypt cloud mining company with good ROI ?

1. BTCjam: Mining and trading loan #4 https://goo.gl/rwj84u , 2. Scrypt.cc Cloud Mining with 120 Days ROI http://goo.gl/LXomWh ,
3. Haas Bot Trade your Cryptos http://goo.gl/unM0TF , 4. Bitgold Invest to BTC & Gold http://goo.gl/7T3K6O
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September 02, 2014, 10:38:38 PM
 #34

so say away from cloud mining ?
there are other algorithms like scrypt

is any scrypt cloud mining company with good ROI ?
Here's a scenario for you to ponder: You give me 1BTC now, and within the next year I might give you back 0.5BTC in total, spreading out my payments to you in decreasing amounts during that time.

If you think that's a good idea, then cloud mining is for you.

Replace BTC with any other coin you want and play that same scenario again.

Jonny's Pool - Mine with us and help us grow!  Support a pool that supports Bitcoin, not a hardware manufacturer's pockets!  No SPV cheats.  No empty blocks.
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October 13, 2014, 04:23:30 PM
 #35

Cloud Mining is profitable if you buy and sell them.

if you buy hashes and then you should be able to sell them easily again and get the invested coins back to you.
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October 23, 2014, 03:58:35 AM
 #36

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.


Very true, I quite agree.

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October 23, 2014, 04:10:40 AM
 #37

once i tried cloud mining on cex.io ..when i bought GHs they were 0.01/gh and after few months they came down to 0.005/gh.... i didn't even mined half my investment and withdrew my btcs ..........now u see them 0.002/gh  not at all profitable

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October 23, 2014, 07:40:35 AM
 #38

is there any calculator site which i can input factors like ... amount GHS and ... difficulty and other factors and  get how much can i earn with cloud mining?

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October 27, 2014, 05:08:32 PM
 #39

Well, in my experience the mining is not profitable, but the trade of Hashlet / Ghash can be, if you buy low and sell high.

If you add the profit  Roll Eyes from your cloud mining to your profit from selling your Hashlet / Ghash you might ROI if your timing is good.

In my opinion you have to try it, to learn the concept and lingo and to contribute to the "Mining" part of Bitcoin.

Not everyone can afford to have a data centre in the back yard, but they can have someone else do it for them.  Grin

Try GAW they nice.

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November 14, 2014, 11:37:59 AM
 #40

gonna try it this weekend with a demo-contract.
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