Lunamine legit ?

[validium]

lunamine.com
They offer cloud mining they are a bit cheaper than pbmining. Who's used their service are they legit?

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[allsopfree]

i can't understand how cloudmining works, but all of them seem scam for me, why would someone sell minig speed if he can use it for himself?

[coinkita]

i can't understand how cloudmining works, but all of them seem scam for me, why would someone sell minig speed if he can use it for himself?

please, I second this question. can anyone can explain it?

[DubFX]

i can't understand how cloudmining works, but all of them seem scam for me, why would someone sell minig speed if he can use it for himself?

As nobody can predict how mutch that difficulty may rise if it will be too mutch then miner will miss ROI if they will be lucky enought then they may get it back and make some LITTLE profit.

[Syke]

lunamine.com
They offer cloud mining they are a bit cheaper than pbmining. Who's used their service are they legit?

That depends. Do they deliver freshly-minted coins? If not, then they're just another ponzi. Proceed at your own risk.

[lunamine]

i can't understand how cloudmining works, but all of them seem scam for me, why would someone sell minig speed if he can use it for himself?

Like every business, we do things to make more profit and/or expand faster. By selling contracts, we can expand at a much faster rate. We get the money invested + the margin really soon, instead of a few months later. Money now is worth more than money in the future. Hope you understood the concept. Also, a lot of risk is decreased and we do good for enthusiasts who don't want to deal with defrauding mining companies, complicated setups, dust and noise.

Yes, you do have an option to get freshly mined bitcoin payouts.

Best regards,
lunamine

[Sniar]

lunamine.com
They offer cloud mining they are a bit cheaper than pbmining. Who's used their service are they legit?

That depends. Do they deliver freshly-minted coins? If not, then they're just another ponzi. Proceed at your own risk.

They are just new to the mining zone and not a big company tho

I will be more careful when investing on cloud mining .

[Acidyo]

They do seem legit to me. I checked the update on coin balance when using the 10gh/s free trial and it updated when a new block was found that showed on blockchain.info to be from a certain IP address. So I guessed it's theirs as it updated under the same time (roughly 5-10mins).

In case anyone wants to try it out here is my leet ref link

http://ourdomain.com/13337

have fun.

[Sniar]

They do seem legit to me. I checked the update on coin balance when using the 10gh/s free trial and it updated when a new block was found that showed on blockchain.info to be from a certain IP address. So I guessed it's theirs as it updated under the same time (roughly 5-10mins).

In case anyone wants to try it out here is my leet ref link

http://ourdomain.com/13337

have fun.

10gh/s free trial ?

Where do you get it i cant even click on that its all grey .

[Acidyo]

They do seem legit to me. I checked the update on coin balance when using the 10gh/s free trial and it updated when a new block was found that showed on blockchain.info to be from a certain IP address. So I guessed it's theirs as it updated under the same time (roughly 5-10mins).

In case anyone wants to try it out here is my leet ref link

http://ourdomain.com/13337

have fun.

10gh/s free trial ?

Where do you get it i cant even click on that its all grey .

I think they disabled it after too many started signing up just for the free trial.

[noviapriani]

They were getting crazy 10gh trials to people traffic, I just want a company give honest rates so at least both can make a profit.  Thats how it should be, not selling miners and hosting just for yourself.  I will def buy 2th soon to try out if Lumine is legit

[BitsBitsBits]

I wish there were cheaper contracts to buy, 160$ for one contract seems a bit too much.

Can't they sell 10gh/s a piece for 16$ instead? Or 20gh/s/50gh/s a piece.

[warrensgun]

The site says that they charge $.0032 per GH/s per day for power and upkeep.

So for 100 Gh/s thats 32 cents by my math.

Not sure what they pay for power - but if you use enough - one can normally negotiate a rate closer to 5 or 6 cents per kwh.

so if you have a 1w/1GH - then 100 would use 2.4kw a day - or about 15 cents.  That leaves the rest to cover overhead like rent, internet, and cooling - obviously not heating in the winter... So that seems about right.

Compared to a typical residential customer that has 10 cent per kwh power - you'd be at 24 cents a day to do the same thing at home - but you would own the machine. 

Sounds more believable to me than pbmining.

Note: I am not a customer of lunamine

[hibr3d]

I have no idea if lunamine is a legit site but i do know that pbmining is legit because I have a contract with them and have been paid. With pbmining you can buy a 10GH contact for 0.03btc with is awesome because you dont have to invest too much. With luna the thing that annoys me is that the lowest i am offered is 100GH and dont have choice for lower. With PBmining the lowest you can buy is 10GH which is better to get into than jumping in at 100GH and then find out that bitcoin is not for you. If you do decide to start cloud mining Pbmining is profitable. For an online calculator and predictions i should break even in 150 days which is way better than buying your own hardware. PLease sign up under me if you do sign up.

http://pbmining.com/?ref=andylin

Do you realise it's a ponzi scheme?

[hibr3d]

I have no idea if lunamine is a legit site but i do know that pbmining is legit because I have a contract with them and have been paid. With pbmining you can buy a 10GH contact for 0.03btc with is awesome because you dont have to invest too much. With luna the thing that annoys me is that the lowest i am offered is 100GH and dont have choice for lower. With PBmining the lowest you can buy is 10GH which is better to get into than jumping in at 100GH and then find out that bitcoin is not for you. If you do decide to start cloud mining Pbmining is profitable. For an online calculator and predictions i should break even in 150 days which is way better than buying your own hardware. PLease sign up under me if you do sign up.

http://pbmining.com/?ref=andylin

Do you realise it's a ponzi scheme?

What? can you explain please?

You pay BTC to older members and you get paid from new members. One day it will end up scamming everybody.

[warrensgun]

I have no idea if lunamine is a legit site but i do know that pbmining is legit because I have a contract with them and have been paid. With pbmining you can buy a 10GH contact for 0.03btc with is awesome because you dont have to invest too much. With luna the thing that annoys me is that the lowest i am offered is 100GH and dont have choice for lower. With PBmining the lowest you can buy is 10GH which is better to get into than jumping in at 100GH and then find out that bitcoin is not for you. If you do decide to start cloud mining Pbmining is profitable. For an online calculator and predictions i should break even in 150 days which is way better than buying your own hardware. PLease sign up under me if you do sign up.

http://pbmining.com/?ref=andylin

Do you realise it's a ponzi scheme?

What? can you explain please?

You pay BTC to older members and you get paid from new members. One day it will end up scamming everybody.

THat's the only way I can get the math to work for Pbmining.  Especially with the weekly payout stuff.  Why not pay like any other pool...

[zolace]

Actually the price is not bad but you need to buy a few 100 gh to make some money, and you dont have to worry about setting it up, electric cost, etc.  I am looking into free energy as that where the money might be at.

[Stery]

You can take a look at the links

http://cryptomining-blog.com/tag/lunamine-review/

http://www.miningcontracts.com/lunamine

[zolace]

Take that link off your sig there is no more more 10gh free trials

[brian_23452]

They were getting crazy 10gh trials to people traffic, I just want a company give honest rates so at least both can make a profit.  Thats how it should be, not selling miners and hosting just for yourself.  I will def buy 2th soon to try out if Lumine is legit

Why?  Why should it be that way?  If hypothetically, I establish a company and invest a substantial amount of capital, such that I have a substantial hashrate, why the heck would I cut you (who has done nothing at all) in on the profit?  That is essentially what you are expecting a company to do. 
We all know that a given hashrate, say, 1Th/s, will generate a certain amount of revenue in a given timeframe.  We know it will be a specific amount, even if we don't in advance what that exact amount will be.  If I sell\rent you that 1Th/s for more than the expected rate of return, you obviously can't and won't profit.  If I sell\rent you that hashrate for less than the expected rate of return you will profit, but that profit comes directly out of my pocket.  Why would I do that?  The idea is even sillier when you consider the fact that a quick look at the market demonstrates that there are many, many people who are quite willing to overpay for hashpower (overpay in the sense that they are willing to pay more than the hashrate will ever mine).  Once you look at it like that, you can see there are only a few reasons why anyone would ever do that.

1.  Generate immediate capital.  Though this isn't really applicable to bitcoin mining given the fast turnaround on the entire mining process (measured in weeks, as opposed to years in other commodity markets like farming, actual mining, etc.).

2.  Guaranteed revenue.  Though this isn't really applicable either, given that we can predict with almost complete accuracy the current difficulty level, and high degrees of accuracy for the next few. 

3.  Profit.  Customers willing to pay more for the hashrate than it will generate simply mining.

4.  If I don't actually have any mining equipment at all, and am just making the whole thing up, and therefore NEED customers to provide actual revenue.

Once you look through the various scenarios for a given company selling hashpower, and see that these are the only reasonable reasons to ever sell hashpower, it is easy to see why the customers almost always lose.  Actually, you can reword this a little bit and it works for the manufacturers too.