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Author Topic: What cloud mining site do you use and why?  (Read 3371 times)
MasterOwel (OP)
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August 10, 2014, 07:41:58 PM
 #1

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.
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The trust scores you see are subjective; they will change depending on who you have in your trust list.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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jonnybravo0311
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August 11, 2014, 01:46:37 PM
 #2

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 - None.
My GH/s - 4TH/s of hardware that I actually own
Pros - There are no pros to cloud mining, unless you're the guy providing the cloud mining service, in which case there are plenty.
Cons - Most are scams with no proven mining actually happening.  All are overpriced and will never get you ROI.  Many have hidden fees in their structure (example, maintenance charges).

Seriously.  Save yourself the trouble.  Do NOT become a cloud mining consumer.  If you want to mine, purchase the hardware.  You can have it hosted, if you can't have it at your home/dorm/apartment/whatever.  There are a number of vendors who provide co-location services.  Not all of them are overpriced.

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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August 11, 2014, 01:50:01 PM
 #3

Good that  you broke even at least some people are taking big losses.
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August 11, 2014, 02:49:58 PM
 #4

cex.io was decent but cloud mining should be avoided unless you physically cannot mine yourself
Even if you cannot physically mine yourself, there are better options like co-locating hardware.  Cloud mining should NEVER be on your list of options.

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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August 11, 2014, 03:45:29 PM
 #5

cex.io cause its most trusted...
Bitsaurus
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August 11, 2014, 07:35:33 PM
 #6

cex.io cause its most trusted...

Lol at the trust.  You can't even name the CEO of the company or tell me where they are physically located (not some garbage address in London).  They haven't run because they're still making money by selling overpriced hash to new miners because of comments like above.
MasterOwel (OP)
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August 11, 2014, 07:47:28 PM
 #7

Lol at the trust.  You can't even name the CEO of the company or tell me where they are physically located (not some garbage address in London).  They haven't run because they're still making money by selling overpriced hash to new miners because of comments like above.

I never went with cex.io for that reason exactly. Everywhere I looked I saw no profit in purchasing the GH there, the only way to make profit was via trading. So I went with PBMining just because I can't set up a mining rig at my house.
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August 11, 2014, 08:36:26 PM
 #8

cex.io cause its most trusted...

Lol at the trust.  You can't even name the CEO of the company or tell me where they are physically located (not some garbage address in London).  They haven't run because they're still making money by selling overpriced hash to new miners because of comments like above.
Trust and cex.io in the same sentence.  And he was serious.  Not only is the company pretty much hidden from the world as Bitsaurus pointed out, but they have executed at least one known 51% attack previously.  They took no steps to stop from gaining 51% of the hash rate a few months back.  They do not list out their fees for their services (upwards of 30% maintenance fees anyone?).  Trusting them is like trusting cancer not to spread.

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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August 11, 2014, 10:01:50 PM
 #9

kryptologika.com
150Gh/s
Cheaper than CEX
none
physical silver as a residual value when profitability is negative

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HashFarmer
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August 12, 2014, 08:36:48 AM
 #10

cex.io and pbmining.com
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August 12, 2014, 09:19:34 AM
 #11

http://cryptotime.de/

New site quite clear and easy to manage.
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August 12, 2014, 09:33:14 AM
 #12

http://cryptotime.de/

New site quite clear and easy to manage.

Register today - check
2 posts - check
Both posts promoting the same website and not much other discussion other than a hyperlink - check
Shill - check

MasterOwel (OP)
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August 12, 2014, 10:20:56 AM
 #13

http://cryptotime.de/

New site quite clear and easy to manage.

The short term contract (24 hours and costs 15 EUR) will return ~0.005 BTC worth about 2.17 EUR

I'm not so good at calculating a full years worth, but their long term prices seem to be about twenty times as expensive as what I currently pay. Good luck to this company, it's really going to need a fan base.
Katarina
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August 12, 2014, 02:17:57 PM
 #14

none of the cloud mining is profitable, dont waste ur money
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August 13, 2014, 02:56:30 AM
 #15

none of the cloud mining is profitable, dont waste ur money

for sure,
i have 30ghs in pbmining,
absolutely no profit, not even reached ROI in 6 months.
don't waste yor btc
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August 13, 2014, 03:24:05 AM
 #16

CEX.IO

6 GH/s

About 20¢/month/GH profit. You can resell GH/s.

Long R.O.I.

Best you not invest.

Posted From bitcointalk.org Android App

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August 13, 2014, 04:13:51 AM
 #17

I'll tell you which to not use -lunamine. Guy just gave some Bs excuse and now isn't paying sig campaign even though paid for three weeks. And query whether you can even withdraw from that site right now.
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August 13, 2014, 12:40:36 PM
 #18

Site: cex.io
Your GH/s: 220 GH/s
Pros: I use a lot of power
Cons: I dont make any profit
Extra: I actively destroy the environment
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August 13, 2014, 01:47:04 PM
 #19

I have 258 GH/s on PBMining.

I didn't have made ROI so far, but my first GH/s are at 90%.
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August 13, 2014, 01:52:19 PM
 #20

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://geni.app - Genius – The Crypto Solution to Retirement
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