My cloud mining experiment

[botolo86]

Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex! 

Nope. As I said, Day 2 had some dust on CEX, therefore it's not reliable. Look at Day 3.

CEX daily profit is  0.00037039. If you multiply this profit by 10 (6 GHS on CEX become 60 GHS), you get 0.00370390  which is even less than what I get with PBMining at 53 GHS,  0.00544143 .

Also, consider that PBMining does not give you profits from an actual pool. It uses a fixed formula similar to the one used by bitcoinwisdom.com and it gives you this fixed amount every week. I assume that the guys at PBMining have created a sort of consortium, where they use BTC from members to buy hardware and mine according to their strategy and they give to members profits according to the fixed formula. It's like saying: "OK, you are the expert, here are my money, use them as you want as long as you guarantee me the return I would have according to profitability formulas".

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[jseppeli]

Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  

He said he had some 'dust' on cex address.

But still assuming that 60 is 10 times bigger than 6.

Shouldn't the daily payout be similar to that?

I'm looking day 3:
cex daily:         0.00037
PB mining daily: 0.00544

It's 14 times bigger. (luck probably)

cex has high maintenance fees (16.1%) so that makes also a difference in profits

[Biomech]

When do you expect to start making profit?

Three weeks ago, for me

[5ick3uffalo]

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

[5ick3uffalo]

When do you expect to start making profit?

Three weeks ago, for me

Congraz

[jordixal]

Any opinions about scrypt.cc nobody tried this service?

[alani123]

Any opinions about scrypt.cc nobody tried this service?

I did. People seem satisfied in general. I own few Kh/s and everything seems fine. I get paid for shares many times a day. I haven't tried to withdraw though. The developers are still working on the site though and the price had droped since I bought.

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

Care to share with us what price did you buy them?

[paulsonnumismatics]

Thanks a lot for the effort and the follow up. Im sure that this is the best summary about the whole Cloud Mining thing.
Lets see how providers react if BTC goes down a lot. Maybe problems with power costs? no ROI for them? who knows...
Interesting Times!

[raskul]

Any opinions about scrypt.cc nobody tried this service?

I did. People seem satisfied in general. I own few Kh/s and everything seems fine. I get paid for shares many times a day. I haven't tried to withdraw though. The developers are still working on the site though and the price had droped since I bought.

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

Care to share with us what price did you buy them?

PBMining is 0.0075 / GH

[xstr8guy]

Any opinions about scrypt.cc nobody tried this service?

I did. People seem satisfied in general. I own few Kh/s and everything seems fine. I get paid for shares many times a day. I haven't tried to withdraw though. The developers are still working on the site though and the price had droped since I bought.

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

Care to share with us what price did you buy them?

PBMining is 0.0075 / GH

PBmining is going to kill hardware sales if this trend continues.

I pointed this out in another thread but may bear repeating here.  The current price on PBMining is like buying a 5GHs Jalapeno for ~$25.00 and owning for 5 years and never having to pay for electricity.

Extending that out to the high-end,  1THs miners, it's liking ordering a BitMain S2 and having it delivered today, owning it for 5 years and not paying for electricity. 

[croato]

Good thing with cex.io is that you can trade ghashes and coins without provision

[xstr8guy]

Good thing with cex.io is that you can trade ghashes and coins without provision

But you have to play the game right since the GH are so overpriced on CEX.  I lost my ass when there was a series of waterfall drops a couple of weeks ago.  Once the price drops on CEX, don't hope for a real rebound because it never happens.  Just check the chart on the site.  It goes only one way... down.

[tricomp]

PB Mining appears to be the best value in terms of purchase price of cloud mining hash. However, the 5yr commitment  and current inability to trade the capacity is quite a limitation. if only PB  Mining could enable transfer of mining hash among customers, then using an escrow service, customers of PB Mining could trade hashing capacity among themselves. That would be great.

[xstr8guy]

PB Mining appears to be the best value in terms of purchase price of cloud mining hash. However, the 5yr commitment  and current inability to trade the capacity is quite a limitation. if only PB  Mining could enable transfer of mining hash among customers, then using an escrow service, customers of PB Mining could trade hashing capacity among themselves. That would be great.

But the 5 year commitment is a plus.  You only pay them once and the hash is yours for 5 years... or however long they stay in business.  It's not a trading platform.  It's really just an alternative to buying hardware when you really think about it.


edit... ah yes, I see your point now.  With hardware, you could possibly sell it for a profit.  The upside with PBMining is you don't have to deal with the headache of hosting the miners yourself.  And for me that is a HUGE deal.  I've simply reached capacity and don't have the room for another miner in my house.

[fikriwic]

any option for other cloud mining?
pbmining in max 5 month will ROI..

[xstr8guy]

any option for other cloud mining?
pbmining in max 5 month will ROI..

Every other cloudmining option is much more expensive at the moment.  Last I looked, CEX.io was ~$7.00/GHs.  Cloudhashing best deal is $9.00 and Nimbus (BFL) $25.00!  PBMining is ~$3.75 or less.

[croato]

i will put some ghs in other cloud miners, but cex.io will stay my main cloud mining platform.

[boomertoo]

Good work.
It may be cool to include a cex ghs current price and price initially paid, to determine live P/L
It may increase profit opportunity to trade in and out as opposed to buy and hold.

[botolo86]

Good morning, everyone. Here is my daily update. As we can see, we had some bad luck with BTCGuild, where the mining profit was lower than yesterday's and we have PBMining which keeps on being a great alternative, with its fixed formula which is not affected by luck of any pool.

It's just sad that BTC/USD is going so down! This is where I don't understand what the best strategy should be: buy BTC because they are cheap or buy BTC and then invest them into GHS, because GHS are cheap?

[raskul]

so are PBMining the only pool/cloud to still be using PPS? returns look as such... i think eclipse still offers PPS, but BTCGuild have moved away from it (don't quote me on any of this!)