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Author Topic: What cloud mining site do you use and why?  (Read 3243 times)
rgenito
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August 13, 2014, 01:52:19 PM
 #21

While I do not endorse cloud mining or leasing hashing power, I disagree that it is not profitable. Both parties are taking a risk: the party leasing the power is giving up their potential earnings by taking a bet that the price of BTC will never be worth the cost. The one renting out their hashing power is basically accepting "less risk" by making sure their power costs are covered. As for people talking about "ROI" ... that is the entire problem! You're all doing this not to support network, but for your own greedy selves. However, of course you're getting a "ROI": you are receiving a limited supply of bitcoin, which will be supplied less and less in the future. Your return comes out to be actual bitcoin units ... which are insanely valuable and useful. Especially for the future human world.

For cloud mining and leasing, I strongly believe it is a good thing: it gets people to see some form of what mining is like. Total newbies can experience from this and possibly profit. If they do not profit, it is a very small fee to pay for the education involved Smiley

For a profitable venture in "mining for USA dollar", of course leasing isn't the way to go. You need to do this all yourself, learn it all yourself, etc. Depending on the size of your operations, as well as the funds you are putting into supporting the bitcoin network, you have some options that can help you:

Co-locate with a mining service that charges you per kW -- this is generally much less expensive than a traditional data center, and because the centers themselves take care of hosting your machines, they should be prepared for the serious heat issues caused by mining equipment. Co-located with the right company can be a great idea, as you will likely save a lot of money and time since you don't need your own staff, network redundancy, or a plan for how you will handle the heat! You still manage the hardware yourself (which is easy if you understand how to work with mining pools, have your own wallet, etc.), but you at least own your hardware assets! An example of this type of service: https://bitcointalk.org/index.php?topic=725967.0

Another service is where you basically hand over money for purchasing machines and sign a contract. Using more formal words: you allow another (trusted) company to manage and host your mining operations entirely. The company could even manage your wallet if you wish (not a good idea unless you're a serious newb), which allows you to have instant liquidation of you want cash from your coins. Best of all, you retain ownership of the coins *AND* the hardware. This is really the best option if you want to maximize your time and your money to support the bitcoin network. My company is the only company I know of that offers something like this soooo...maybe this post will inspire other companies to do something differently and stop trying to make so much money off innocent people curious about mining Smiley

https://WallofCoins.com * A peer-to-peer market for buying and selling decentralized, Digital Currencies. Intelligent, trustworthy, and secure.
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testerman
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August 13, 2014, 02:53:00 PM
 #22

http://pbmining.com

Because,

Antminer S3, it seems cheapest mining hardware in the world. In fact,

Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.

Lets calculate the how much it costs..

0.68 BTC for 441 GHS.

340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh

0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost

PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs

TOTAL COST IN ONE YEAR

0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc

If you arenot paying electiricty, buy antminer otherwise, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years..hardware mining is useless at the moment. I made my roi in 4.5 months with this site.

*** THIS AREA IS NOT FOR SALE ***
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August 13, 2014, 06:44:11 PM
 #23

http://pbmining.com

Because,

Antminer S3, it seems cheapest mining hardware in the world. In fact,

Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.

Lets calculate the how much it costs..

0.68 BTC for 441 GHS.

340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh

0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost

PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs

TOTAL COST IN ONE YEAR

0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc

If you arenot paying electiricty, buy antminer otherwise, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years..hardware mining is useless at the moment. I made my roi in 4.5 months with this site.

Wow you spammed the same thing in 4 different threads - how much a shill are you?  I repeat what I said in the other thread as a rebuttal.

What you forgot in your calculations was that when pbmining gives you a 404 error in 3 months (as in they run away with everybody's contracts) your 5 year contract is now worthless, the S3 will still be mining and under warranty. PBMining has yet to show what hardware they are using or where they are generating blocks - assume it's a ponzi until proven otherwise - Pireate@40 2.0


Cloud mining leads to centralization - no point in supporting it.
rgenito
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August 14, 2014, 08:01:14 AM
 #24

Bitsaurus great point!

I have a service: http://hashingplex.com

What could we do to gain trust? Post our own mining addresses? We're not a leasing program, but we host for others. So far we have an example of accessing one of our S3s (the same way a customer accesses their machine) ...

http://genitrust.webber.genihash.com

Hmm, and now I notice... we could start by having our DNS records also resolve genitrust.webber.hashingplex.com (and any other customer links) to use the same domain...

https://WallofCoins.com * A peer-to-peer market for buying and selling decentralized, Digital Currencies. Intelligent, trustworthy, and secure.
semizias
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August 14, 2014, 11:42:12 AM
 #25

cex.io
83 GH/S

I don't think you should go into cloud mining that much,
I earned 40 cents in one day instead of the 2$ a day promised by a profit calculator.
After calculating my profits again VS the price,
I found out it's not profitable at all. If you want to earn big, you have to invest big.

Unless someone else has a better suggestion, I suggest you find a different way to invest.
EvilPanda
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August 14, 2014, 11:57:26 AM
 #26

Zenminer cloud of course Smiley
Why? I know who I'm dealing with there and the prices are quite good.
Prices on CEX are so high that I never even considered investing there. PB has a better offer but I'd never send money to an anonymous company.

bizzyb
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August 14, 2014, 03:32:34 PM
 #27

The subject says it all. I'm trying to gather some information

Please reply with your information in this format

{Site}
{Your GH/s}
{Pros}
{Cons}
{Extra}


Thank you for everyone who comments.
Site:  MegaMine.com
Hash: 620gh
Pros: Easy to set up and pay (they take PayPal).  Are "legitimate", I have earned and withdrawn my BTC, and continue to mine with them.  Good customer service.  "real" names and a "real" company, address etc.
Cons: I can only mine BTC, have no control of what pool I point to as they use their own private pool with guaranteed 95% luck.  Cannot therefore mine any other SHA-256 coin.
Extra: I like that they are a UK company using "renewable" energy

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testerman
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August 14, 2014, 05:25:31 PM
 #28


Site:  http://pbmining.com/

Hash: 5325 ghs

Pros: No fees, no electricity cost, no downtimes, cheap ( currently 0.0029btc/ghs), no recurring costs, 5 year period, no recurring costs, no pool fees. return of all invest in 4.5 months

Cons: Minumum order 15 ghs(this can be a cons for a newbie with low budget) , weekly payouts( not a problem, but for someone it can be problem)

*** THIS AREA IS NOT FOR SALE ***
Bitsaurus
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August 14, 2014, 05:40:25 PM
 #29


Site:  http://pbmining.com/

Hash: 5325 ghs

Pros: No fees, no electricity cost, no downtimes, cheap ( currently 0.0029btc/ghs), no recurring costs, 5 year period, no recurring costs, no pool fees. return of all invest in 4.5 months

Cons: Minumum order 15 ghs(this can be a cons for a newbie with low budget) , weekly payouts( not a problem, but for someone it can be problem)

Stop!  Just Stop!  At this point I'm going to call you out as a paid shill for PBMining.  Over 1/2 your posts in English and Turkish promote this company - if that doesn't say paid shill....

So just when were you guys planning on running away with everybody's money?
jonnybravo0311
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August 14, 2014, 05:50:15 PM
 #30


Site:  http://pbmining.com/

Hash: 5325 ghs

Pros: No fees, no electricity cost, no downtimes, cheap ( currently 0.0029btc/ghs), no recurring costs, 5 year period, no recurring costs, no pool fees. return of all invest in 4.5 months

Cons: Minumum order 15 ghs(this can be a cons for a newbie with low budget) , weekly payouts( not a problem, but for someone it can be problem)

Stop!  Just Stop!  At this point I'm going to call you out as a paid shill for PBMining.  Over 1/2 your posts in English and Turkish promote this company - if that doesn't say paid shill....

So just when were you guys planning on running away with everybody's money?
Gotta constantly have new blood to keep the Ponzi going...

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.
jjc326
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August 16, 2014, 03:52:08 AM
 #31

I don't see any difference between lunamine, which just ran away with 2000 btc, and pbmining.  Lunamine was very responsive and friendly.  I guess they just didn't keep the con going long enough.
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August 16, 2014, 07:25:45 AM
 #32

I don't see any difference between lunamine, which just ran away with 2000 btc, and pbmining.  Lunamine was very responsive and friendly.  I guess they just didn't keep the con going long enough.

I remember you used to have a lunamine sig  Tongue

You know what would be really funny is if lunamine, PBmining and other mining companies are all run by some crime syndicate.  They could just be pushing customers from one burning building to another and scamming them over an over. Since nobody knows the incorporation info of any of these companies it could be Trendon Shavers operating from Texas for all we know!  Shocked
FloridaBear
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August 27, 2014, 03:43:36 PM
 #33


Site:  http://pbmining.com/

Hash: 5325 ghs

Pros: No fees, no electricity cost, no downtimes, cheap ( currently 0.0029btc/ghs), no recurring costs, 5 year period, no recurring costs, no pool fees. return of all invest in 4.5 months

Cons: Minumum order 15 ghs(this can be a cons for a newbie with low budget) , weekly payouts( not a problem, but for someone it can be problem)

Stop!  Just Stop!  At this point I'm going to call you out as a paid shill for PBMining.  Over 1/2 your posts in English and Turkish promote this company - if that doesn't say paid shill....

So just when were you guys planning on running away with everybody's money?
Gotta constantly have new blood to keep the Ponzi going...

Even if this is not a Ponzi, this is basically a bet on the difficulty. At today's 0.0033 (I don't see the .0029 on the site), about 8.9% difficulty increases are break-even, and it will take over a year to recover even 50% of your initial "investment" (hint: this is not an investment. Investments can be sold. This is a purchase, as there is no way to sell contracts that I can see, unless there is a private market I don't know about.).

Also, if their "statistics" page is accurate, they have 4,979 customers totalling 1,966 TH. I find it difficult to believe they have the equivalent of 4,470 Antminer S3's running (1% of the total network hash rate).
l3sny
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August 27, 2014, 03:53:47 PM
 #34

I have never bothered to do those checks. But contracts are basically a scam as once you buy them there is no way you could sell them back or buy back at better prices. Sorry to sound like a broken record but kryptologika is offering shares in our mining opertion at reasonable prices, low maintenance fees with price protection in silver. At the moment the lowest offer is around 0.0022 per GH/s and still people prefere to buy more expensive GH/s elsewhere.
So we just wait...

BTW if someone is interested in signature campaign please feel free to contact me on PM.


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