My cloud mining experiment

[botolo86]

sorry i wan't meaning that you should go buy some! I just wondered how you would include this in future comparisons?

Sorry, I misinterpreted you! I think the new price should not influence the current spreadsheet, unless I buy new GHS with them. In that case, I would add the BTC paid for the new GHS to the total BTC invested and I would gauge the gain accordingly. Any suggestion?

[raskul]

sorry i wan't meaning that you should go buy some! I just wondered how you would include this in future comparisons?

Sorry, I misinterpreted you! I think the new price should not influence the current spreadsheet, unless I buy new GHS with them. In that case, I would add the BTC paid for the new GHS to the total BTC invested and I would gauge the gain accordingly. Any suggestion?

hey it's your baby!  just had a thought tho.. I suppose prices on cex are always fluctuating also, so stick with the original comparisons i think .

[metraque]

I'm sorry, but my gut says that you'll never breakeven.

[raskul]

I'm sorry, but my gut says that you'll never breakeven.

the first contract i bought with PBMining - at the end of february is halfway to break even. i'd say another 2 months, or 3 if difficulty rises are harsh before positive roi.

[croato]

I dont like CEX messing things up with fiat and rising fees. Only way to make profit there was trading GHS and now they will ruin that. Most possibly i will withdraw my funds there and go somwhere else. Any toughts?

[byt411]

I dont like CEX messing things up with fiat and rising fees. Only way to make profit there was trading GHS and now they will ruin that. Most possibly i will withdraw my funds there and go somwhere else. Any toughts?

I say you buy a bunch of FHA and dump them the second it converts into GHS, since price will fall.
Or wait for their scrypt cloud, that might give us a possibility to earn more.
Anyway, it still has a 0.001BTC fee on withdrawals.

[robinjoo1]

you all know you can already mine scrypt multi pool
http://prntscr.com/383py9

[raskul]

http://scryptguild.com

[robinjoo1]

yeah and this secret url
https://ghash.io/multipool_beta

thats beta url

[botolo86]

Hello everyone,

Sorry for the late update. I have decided to sell all of my GHS from CEX, cash in and use this amount of BTC to buy additional GHS from PBMining.com. I took this decision mostly because CEX stresses me out. Every time I see that GHS price goes down, I feel like I am loosing money. PBMining is a more straightforward investment for me. You buy GHS, you get weekly payouts and that's it.

At this point, profitability calculations do not make sense anymore, as mining with PBMining will be profitable if difficulty stays low, it will not be profitable if difficulty keeps on going up 20% all the time.

In conclusion, here is my feedback from the whole experience of cloud mining:

• Nimbus mining is the best service out there. You know they have hardware and you can point the GHS to any pool you want. Unfortunately, it's way too overpriced and I would not recommend it to anyone, as long as the price stays the same
• CEX is the most flexible service, it is very likely that they have the hardware but you always wonder whether they play with the market or not. In any case, it is not a good solution for me because I am always tempted to sell my GHS as soon as I see its price going down...and if you sell, you loose for sure
• PBMining is my top choice right now. There is the huge issue about the uncertainty of their service, as they refuse to provide proof that they have hardware. In any case, so far their service has worked, I have received two weekly payouts to my Bitcoin address and customer support has been excellent.
• Profitability with cloud mining is a big "?". You will never break even with Nimbus. You may break even with CEX if GHS value don't go too down. You may break even with PBMining if difficulty stays down and if the company really has hardware.
  

I hope you enjoyed this little experiment. If you would like to send me a "thank you", just donate whatever you feel fair to my BTC address in my signature.

Keep the passion alive!

[raskul]

thanks for all your efforts, it's been fun to read.

[raskul]

I agree with your conclusions about mining with cex.io and pbmining.com
I have accounts with both companies, and currently pbmining.com performs best.
It definitely has the lowest rates of 0.0064 BTC/Ghs for a 5 year contract, but you should not invest a huge amount.

pbmining.com

this is still market speculation, however you look at it, never pay out more than you can afford to lose.

CEX.IO offers now also Future Minning contracts which start 26th April 0.0081 BTC/Ghs (FHA) and 26th May 0.0041 BTC/Ghs.
This looks very atttactive to me and the rates are comparable with pbmining now, and you have the security of mining with the market leader in cloud mining.

CEX.IO

'the market leader in cloud mining' I will have to dispute, what they do is allow you to trade GH/s on ghash.io; being the biggest pool does not in any way make you the market leader, more rather - the easiest option for many.

It also gives you the flexibility to convert your Ghs back to Bitcoin after a month or so if you think it doesn´t pay off.
The trading platform is great, and its a lot of fun anyway. You can start with 0.5 BTC if you want or even less.

under your proclamation you should have the text;
^^advertisement^^

yes, we know all about both these companies, hence why we were interested in the OP in the first place.

 

[Don007]

I bought some Gh/s on Cex.io earlier after reading this experiment. The possibility to sell your Gh/s made me choose for Cex.io.

I might buy more of those Future Mining Cotnracts (FHA & MHA) soon .

[LindsayJewels]

Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

[raskul]

Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

really? i would imagine it is also counter-productive, people who use that chat will surely already be referred-to on CEX?
who is doing the spamming?

[LindsayJewels]

Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

really? i would imagine it is also counter-productive, people who use that chat will surely already be referred-to on CEX?
who is doing the spamming?

Username: rayennss

Assumed he was the thread author.

[raskul]

Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

really? i would imagine it is also counter-productive, people who use that chat will surely already be referred-to on CEX?
who is doing the spamming?

Username: rayennss

Assumed he was the thread author.

well you can rest assured it wasn't me. wouldn't touch CEX with a bargepole 

[Koko]

I invested a small amount into pbmining a while ago, so far so good.

[raskul]

I bought some Future Mining contacts on CEX.IO today which start mining on April 26th.
The price is currently arround 0.0081 to 0.0082 BTC/Ghs.
I guess the price will rise now, since its ony ten days until these contracts will start mining.
Take a look at CEX.IO

what a ridiculous price per GH/s... you do realise we are looking at difficulty rise in the next few hours, don't you?
You will never break even on that price, sell it while the going is good, and please; stop spamming this thread with links.

[Don007]

I bought some Future Mining contacts on CEX.IO today which start mining on April 26th.
The price is currently arround 0.0081 to 0.0082 BTC/Ghs.
I guess the price will rise now, since its ony ten days until these contracts will start mining.
Take a look at CEX.IO

what a ridiculous price per GH/s... you do realise we are looking at difficulty rise in the next few hours, don't you?
You will never break even on that price, sell it while the going is good, and please; stop spamming this thread with links.

Do you think you will never break-even at that price?  (Due to the increasing difficulty).

And Kaching, you're not allowed to use referal URL's (I didn't know that either, but I heard it a couple of days ago).