Bitcoin Cloud Mining - 3 Reviews

[impulsecorp]

I reviewed some bitcoin cloud mining services in my blog posting at http://www.impulsecorp.com/strike-it-rich-with-bitcoin-cloud-mining

- Eric

[joust]

Hi Eric,

Always good to see an independent take, and if you'd like to try Megamine just give us a shout - happy to give you a small 10GHs account (we don't sell those but can create one so you can test it out).

J
www.megamine.com

[impulsecorp]

I added Megamine to the list now at http://www.impulsecorp.com/strike-it-rich-with-bitcoin-cloud-mining

[joust]

Thanks. I'm still not seeing it but that's probably BT caching my home connection

As I said, if you'd like a freebie account to have a look at our portal then please just shout. It won't make you rich but you can have a good play and we are always happy to get feedback from people that have seen a wide variety of services.

J

[zdaz14]

Thanks. I'm still not seeing it but that's probably BT caching my home connection

As I said, if you'd like a freebie account to have a look at our portal then please just shout. It won't make you rich but you can have a good play and we are always happy to get feedback from people that have seen a wide variety of services.

J

Very interesting site! Any chance that in the future you'll be bringing about smaller amounts to be purchased? I'm a recent graduate and dropping ~$300 on cloud mining is a bit of a risk for me to take personally, where something a bit cheaper would be easier for me to swallow.

[DrG]

The review is a little confusing in some places.  For Cloudhashers for example you say it will produce profit after 1.5 months but you bought a 24 hour contract for $10.  It generated $0.25 the first day, but for some reason they continued to hash for you for 3 days.  At $0.25/day with no difficulty increase it would need to hash for 40 days to earn the $10 back but the contract was for 1 day.

[impulsecorp]

I updated my posting at http://www.impulsecorp.com/strike-it-rich-with-bitcoin-cloud-mining with revised stats for the 3 cloud mining services that I reviewed. All 3 are doing just as well after 7 days as after 5 days, and CloudHashers is still paying out after a week even though when I bought it it seemed to indicate it would only pay out for 24 hours.  On the other hand it will take around 8 weeks to break even, so I have no idea if it will keep mining for that long. I will keep the results updated on my original blog posting.

[zdaz14]

I updated my posting at http://www.impulsecorp.com/strike-it-rich-with-bitcoin-cloud-mining with revised stats for the 3 cloud mining services that I reviewed. All 3 are doing just as well after 7 days as after 5 days, and CloudHashers is still paying out after a week even though when I bought it it seemed to indicate it would only pay out for 24 hours.  On the other hand it will take around 8 weeks to break even, so I have no idea if it will keep mining for that long. I will keep the results updated on my original blog posting.

You're going to need to update your post with GAWs recent announcement https://hashtalk.org/t/new-members-of-the-hashlet-family-and-free-mining/10020/45

[impulsecorp]

Thanks, I updated my blog posting with that new info now.
I was unclear from that Hashlet announcement about 2 things:
1. What the price of the Hashlet Prime will be.
2. If the Hashlet Solo has the same automatic upgrade feature of the Hashlet Prime.

[zdaz14]

Hashlet Prime is 39.99. It will get all of the future updates/changes for free. The Solos will be stuck to just their selected pool (ZenPool costs the most and it goes down to $16ish from there to the least paying pool) GAW said that if one of the pools ever became unprofitable they would bump up the Solo to the next pool to return it to making money.

[impulsecorp]

The Hashlet website was not working at the time, but now their site shows all that new info, so I updated my blog posting with with it.

[achow101]

Is cloud mining still good ROI ??

[impulsecorp]

That is a hard question to answer. From my 8 days of trying it so far, I would say it is better and easier than non-cloud mining (although I have never actually done any non-cloud mining). It all depends on how you interpret the results I posted in my review at http://www.impulsecorp.com/strike-it-rich-with-bitcoin-cloud-mining (I updated the results yesterday, and they are still earning at the same rate today).

2 of my cloud mining purchases are making over 100% annual returns, which is amazing. But, we will see in a few months if they really end up making that much. There are huge risks with Bitcoin mining, like the cloud companies could go out of business, hash rates will decreases, and the price of bitcoin could go down. Even if I make 100% on my money in a year, if I then decide it is "safe" and want to invest a lot more, by then all the potential profits may be gone. Just because it does well this year does not mean it will do well next year.

All I can say is I am pleasantly surprised so far by the results from cloud mining.

- Eric

[zdaz14]

Is cloud mining still good ROI ??

I've made 25% ROI as of today after a week and a half with my hashlets. I also have GHs from Cex.io that are making only cents a day (unless you have a large amount) and I can't see those making ROI until I resell them.

[impulsecorp]

Cex.io is still generating around a 100% annual return, plus the fact that you can sell it to get your original investment back, so the fact that it is a few cents a day is not the point. The point is you could invest a lot more and make 100%. The problem is that there is risk.  But, yes, if you have only a small amount of money to invest, then the few cents a day return is a problem.

[DrG]

Cex.io is still generating around a 100% annual return, plus the fact that you can sell it to get your original investment back, so the fact that it is a few cents a day is not the point. The point is you could invest a lot more and make 100%. The problem is that there is risk.  But, yes, if you have only a small amount of money to invest, then the few cents a day return is a problem.

That is a classic case of new person not looking at the trendline and only looking at the current rate of return.  It s the reason why people have lost thousands of BTC to cex.io and why ghash.io has it's own farm.

I will gladly bet 1 BTC including escrow with anybody who thinks they get 100% ROI annualized return from cex.io without actively trading.

Look at the price per GH/s over the last 8 months 

[zdaz14]

Cex.io is still generating around a 100% annual return, plus the fact that you can sell it to get your original investment back, so the fact that it is a few cents a day is not the point. The point is you could invest a lot more and make 100%. The problem is that there is risk.  But, yes, if you have only a small amount of money to invest, then the few cents a day return is a problem.

That is a classic case of new person not looking at the trendline and only looking at the current rate of return.  It s the reason why people have lost thousands of BTC to cex.io and why ghash.io has it's own farm.

I will gladly bet 1 BTC including escrow with anybody who thinks they get 100% ROI annualized return from cex.io without actively trading.

Look at the price per GH/s over the last 8 months 

I've been with them for a week. GHs go for .0037X lately. I can't imagine making back my ROI through mining alone, definitely need to be active to sell GHs when they start to drop and buy when low. (which I did today when people dumped a bunch, doubled my initial purchase lol)

[jimlite]

Well if you don't want to buy expensive mining equipment and take care of it, and you don't want to just buy bitcoin (which right now I see as the most sensible thing to do), then cloud mining with the GAW Zen hashlet seems to be the lowest cost and highest returning service right now. See my sig for link.

[zdaz14]

Well if you don't want to buy expensive mining equipment and take care of it, and you don't want to just buy bitcoin (which right now I see as the most sensible thing to do), then cloud mining with the GAW Zen hashlet seems to be the lowest cost and highest returning service right now. See my sig for link.

Currently own quite a few Mhs from GAW in Hashlets and also own some Ghs in Cex.io just to keep it spread around. Also own some BTC as well.

Thinking about picking up a Fury to mess around with Multi Pool mining on Ghash but I'm not sure if it'll make enough to let me break even vs the power cost. (Don't really care about making a ton of cash, I like the idea and just want to break even at least lol)