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Author Topic: Cloud mining, profitable or not?  (Read 7636 times)
AnnyHan
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September 01, 2014, 05:02:20 AM
 #1


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy
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07Ghost
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September 01, 2014, 06:15:09 AM
 #2

Of course,it can be profitable. I don't have to warn my little one of heated miners ,huh huh Grin
Game Sir
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September 01, 2014, 11:42:10 AM
 #3

If I have the hash i will be rich!
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September 01, 2014, 11:50:19 AM
 #4

Sounds cool Smiley

A newbie question:What would be good choices for buying hash?
DrG
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September 01, 2014, 10:09:34 PM
 #5

p.s. No Shame in Refferrals  Grin

Please read the forum rules.














 

 

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brokjen420
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September 02, 2014, 03:04:16 PM
 #6


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy


Gaw Gaw Gaw Sall I Hear Hashlets lets everybody own their own little Mh/s Baby Kinda Like the Ol Zeus Blizzards, They are Known for Using Zeus Miner Chips Anyway. Zeus is going to be opening Zeus Hash soon It's about to finish beta I have .13 mh/s from a previous order there... Its my little paycheck Cheesy


http://gawminers.com/pages/hashlet

https://zeusminer.com/


http://zeushash.com/index.html


Wish you the best of luck Cloud Mining, its the quieter option to being a Miner.
p.s. No Shame in Refferrals  Grin

Banned By Cryptsy chat Mods and Removed my Coins in 2015 Phew
 https://freebitco.in/?r=349706
Klubknuckle
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September 02, 2014, 03:25:27 PM
 #7


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy


None of the cloud mining is profitable, if there is one please share..

jonnybravo0311
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September 02, 2014, 03:32:52 PM
 #8


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy

Many discussions on this topic.  DrG has a great post about cloud mining here: https://bitcointalk.org/index.php?topic=739510.0.

The short of it is that cloud mining companies are businesses, and the goal of any business is to make a profit.  As such, they have designed their services in such a way as to minimize the risk on themselves and transfer it to you.  You, as the consumer, have little to no chance to ever profit.

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.
brokjen420
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September 02, 2014, 03:41:57 PM
 #9


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy



The Reason we Cloud Mine is To Obtain Coin w/o inflated Platform Prices, and to sell coin once its become profitable.

Want an example of a cloud mining that is profitable, the person that buys Cloud Share right before the price of coin goes up.

Those who wish to buy something like a cloud contract and then sell the coins immediately are well Near sighted and of course 99% time Loose any return on their investment.

Just ask the Guy with 1000 Bitcoins he bought at 20$ uSD a piece and sold at 90$ woot profit huh

20 * 1000 20,000 invested
1000 * 90  90,000   Cashed out
1000 * 1200  1,200,000 Max profit....
                  1,110,000 Profit Missed


There were days when CLoud Mining BTC was not profitable wat so ever yet had those Cloud miners held for 6 months they would have profited 1000%'s of percent.

Simple,

Banned By Cryptsy chat Mods and Removed my Coins in 2015 Phew
 https://freebitco.in/?r=349706
jonnybravo0311
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September 02, 2014, 04:15:11 PM
 #10


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy



The Reason we Cloud Mine is To Obtain Coin w/o inflated Platform Prices, and to sell coin once its become profitable.

Want an example of a cloud mining that is profitable, the person that buys Cloud Share right before the price of coin goes up.

Those who wish to buy something like a cloud contract and then sell the coins immediately are well Near sighted and of course 99% time Loose any return on their investment.

Just ask the Guy with 1000 Bitcoins he bought at 20$ uSD a piece and sold at 90$ woot profit huh

20 * 1000 20,000 invested
1000 * 90  90,000   Cashed out
1000 * 1200  1,200,000 Max profit....
                  1,110,000 Profit Missed


There were days when CLoud Mining BTC was not profitable wat so ever yet had those Cloud miners held for 6 months they would have profited 1000%'s of percent.

Simple,
You've got an interestingly convoluted view on things.  If your sole intention of cloud mining is to obtain coins and sell once profitable, why would you even bother with the cloud mining at all?  Just buy some coin outright and hold it.  Also, if you think you're not paying inflated platform prices by cloud mining you're delusional.

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.
dropt
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September 02, 2014, 04:52:45 PM
 #11


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy



The Reason we Cloud Mine is To Obtain Coin w/o inflated Platform Prices, and to sell coin once its become profitable.

Want an example of a cloud mining that is profitable, the person that buys Cloud Share right before the price of coin goes up.

Those who wish to buy something like a cloud contract and then sell the coins immediately are well Near sighted and of course 99% time Loose any return on their investment.

Just ask the Guy with 1000 Bitcoins he bought at 20$ uSD a piece and sold at 90$ woot profit huh

20 * 1000 20,000 invested
1000 * 90  90,000   Cashed out
1000 * 1200  1,200,000 Max profit....
                  1,110,000 Profit Missed


There were days when CLoud Mining BTC was not profitable wat so ever yet had those Cloud miners held for 6 months they would have profited 1000%'s of percent.

Simple,

I think you smoked too much weed and "brokjen" your head.  Cloud mining will, in almost 99.999% of the cases return less coins then you could have just purchased.  You're also then at risk of losing out on a price spike to sell because you'll be sitting there with your thumb up your but waiting to earn your coins back hoping the spike doesnt deflate beflre you get your chedder back.
DrG
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September 02, 2014, 05:14:03 PM
 #12


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy



The Reason we Cloud Mine is To Obtain Coin w/o inflated Platform Prices, and to sell coin once its become profitable.

Want an example of a cloud mining that is profitable, the person that buys Cloud Share right before the price of coin goes up.

Those who wish to buy something like a cloud contract and then sell the coins immediately are well Near sighted and of course 99% time Loose any return on their investment.

Just ask the Guy with 1000 Bitcoins he bought at 20$ uSD a piece and sold at 90$ woot profit huh

20 * 1000 20,000 invested
1000 * 90  90,000   Cashed out
1000 * 1200  1,200,000 Max profit....
                  1,110,000 Profit Missed


There were days when CLoud Mining BTC was not profitable wat so ever yet had those Cloud miners held for 6 months they would have profited 1000%'s of percent.

Simple,

I think you smoked too much weed and "brokjen" your head.  Cloud mining will, in almost 99.999% of the cases return less coins then you could have just purchased.  You're also then at risk of losing out on a price spike to sell because you'll be sitting there with your thumb up your but waiting to earn your coins back hoping the spike doesnt deflate beflre you get your chedder back.

And that is why Cex.io was "smart" and the buyers of their hash were "stupid".

Buy 1000 BTC in Jan 2013 for about $13K on BTCe
Move coins to cold wallet
Sell 1000 BTC in Dec 2013 for $1.2Million on BTCe

Total time invested, about 20 minutes and daily checking of prices.

Mining on cloud mining or selling on cex.io to try to break even - endless nights of work to gain 1BTC.

Comedy of errors.














 

 

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efc17
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September 02, 2014, 07:57:47 PM
 #13

I thought Cloud mining was dictated by supply and demand ... surely at some point it becomes profitable?

With more cloud centres popping up would you expect the competition to be good for cloud mining profitability?

I'm interested to see what ZeusHash beta prices launch at.

I kind of like the 'idea' of cloud mining, and would definitely prefer not dealing with the electric bills.  I'd like to just set and forget I guess.

I agree with what the person above said though.  Those figures, in hindsight, cex.io was a terrible investment compared to buying crypto.

Presumably when someone loses, someone somewhere wins right?

It can't go down forever can it?  Huh

1BLQLWHBRtwVff1TtQKLj5fXz7WnmUyx31
LftyEbt5V9ydY9xVFKAu37bAZkhwJ75819
https://cex.io/r/1/efc17/0/
brokjen420
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September 03, 2014, 02:54:52 AM
 #14


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy



The Reason we Cloud Mine is To Obtain Coin w/o inflated Platform Prices, and to sell coin once its become profitable.

Want an example of a cloud mining that is profitable, the person that buys Cloud Share right before the price of coin goes up.

Those who wish to buy something like a cloud contract and then sell the coins immediately are well Near sighted and of course 99% time Loose any return on their investment.

Just ask the Guy with 1000 Bitcoins he bought at 20$ uSD a piece and sold at 90$ woot profit huh

20 * 1000 20,000 invested
1000 * 90  90,000   Cashed out
1000 * 1200  1,200,000 Max profit....
                  1,110,000 Profit Missed


There were days when CLoud Mining BTC was not profitable wat so ever yet had those Cloud miners held for 6 months they would have profited 1000%'s of percent.

Simple,
You've got an interestingly convoluted view on things.  If your sole intention of cloud mining is to obtain coins and sell once profitable, why would you even bother with the cloud mining at all?  Just buy some coin outright and hold it.  Also, if you think you're not paying inflated platform prices by cloud mining you're delusional.

Inflated platform prices are on the trading platforms themselves. Most Coins people bother to mine are inflated or pumped. Not all cloud mining operations could have been profitable but surley not all have been duds. Infact Cloud mining is becoming the most popular way to own a share of the mining power. Most people dont realize that you cant actualy determine profitablilty of a coin especialy when looking long term.

IMO A combination of things make profitability and in the end USER ERROR is were most people go wrong and loose money. Play your cards right and you can make skipping rocks profitable. Even Lottery winners end up poor beacuse well people who are stupid with currency are just stupid with currency.

Cloud mining companys offer a product, stupid people buy the product when its not profitable, people who research or intellegent people buy the product when its profitable or just before it becomes profitable. The Could Mining company doesent Care if your Stupid or intellegent  their offering a service not free money.

Cant complain about that, services are good for crypto community. Scam Companys that steal pre order money are things that can bruise the community. I do suppose if BTC/LTC doubled in price tomorrow all cloud companys would suddently have a profitable product if purchased today. So Dont hate on the Cloud its As good as Gambeling by buying coins outright and selling when you seen a bump.



Buy 1000 BTC in Jan 2013 for about $13K on BTCe
Move coins to cold wallet


Sell 1000 BTC in Dec 2013 for $1.2Million on BTCe  -- You see if the Man who purchased the 1000 BTC in DEC had instead  Purchased Cloud Mining power a month Earlier he would have had a very profitable month Cloud Mining... Making your Statement = to mine buying coin = Great Investing in cloud = Great

Banned By Cryptsy chat Mods and Removed my Coins in 2015 Phew
 https://freebitco.in/?r=349706
coory
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September 03, 2014, 02:56:03 AM
 #15

i earned 14 euro in 2 weeks from mining
notlist3d
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September 03, 2014, 03:29:23 AM
 #16

I personally suggest hosting in most cases if you are long term.  Cloud and renting are best normally for short term in my opinion.
toleng
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September 03, 2014, 03:35:01 AM
 #17

Both KnC and the maker of antminers (bitmantech) opened separate cloud mining services today. I did "back of the napkin" calculations and it looks like that if you assume a 10% increase in difficulty levels in the near future (much lower then difficulty has been increasing in the recent past) then you will lose 50% of your investment. You will lose much more (IDR how much) if difficulty were to increase by a more realistic 20% every two weeks.
brokjen420
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September 03, 2014, 04:00:38 AM
 #18

i earned 14 euro in 2 weeks from mining

Scrypt or Sha

how much hash power and what were you mining or where?

Banned By Cryptsy chat Mods and Removed my Coins in 2015 Phew
 https://freebitco.in/?r=349706
DrG
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September 03, 2014, 05:48:04 AM
 #19


Cloud mining has been a heated topic recently. Some analysts say although the price of coins is going down, the price of cloud mining is rising in general. And some cloud mining providers have even run of stocks of their products.

To me the market a little weird. I think for the cloud mining industry to better develop, it should invite more competition. And buyers should evaluate the risk and returns in advance.

What is your thought on this? Cheesy



The Reason we Cloud Mine is To Obtain Coin w/o inflated Platform Prices, and to sell coin once its become profitable.

Want an example of a cloud mining that is profitable, the person that buys Cloud Share right before the price of coin goes up.

Those who wish to buy something like a cloud contract and then sell the coins immediately are well Near sighted and of course 99% time Loose any return on their investment.

Just ask the Guy with 1000 Bitcoins he bought at 20$ uSD a piece and sold at 90$ woot profit huh

20 * 1000 20,000 invested
1000 * 90  90,000   Cashed out
1000 * 1200  1,200,000 Max profit....
                  1,110,000 Profit Missed


There were days when CLoud Mining BTC was not profitable wat so ever yet had those Cloud miners held for 6 months they would have profited 1000%'s of percent.

Simple,
You've got an interestingly convoluted view on things.  If your sole intention of cloud mining is to obtain coins and sell once profitable, why would you even bother with the cloud mining at all?  Just buy some coin outright and hold it.  Also, if you think you're not paying inflated platform prices by cloud mining you're delusional.

Inflated platform prices are on the trading platforms themselves. Most Coins people bother to mine are inflated or pumped. Not all cloud mining operations could have been profitable but surley not all have been duds. Infact Cloud mining is becoming the most popular way to own a share of the mining power. Most people dont realize that you cant actualy determine profitablilty of a coin especialy when looking long term.

IMO A combination of things make profitability and in the end USER ERROR is were most people go wrong and loose money. Play your cards right and you can make skipping rocks profitable. Even Lottery winners end up poor beacuse well people who are stupid with currency are just stupid with currency.

Cloud mining companys offer a product, stupid people buy the product when its not profitable, people who research or intellegent people buy the product when its profitable or just before it becomes profitable. The Could Mining company doesent Care if your Stupid or intellegent  their offering a service not free money.

Cant complain about that, services are good for crypto community. Scam Companys that steal pre order money are things that can bruise the community. I do suppose if BTC/LTC doubled in price tomorrow all cloud companys would suddently have a profitable product if purchased today. So Dont hate on the Cloud its As good as Gambeling by buying coins outright and selling when you seen a bump.



Buy 1000 BTC in Jan 2013 for about $13K on BTCe
Move coins to cold wallet


Sell 1000 BTC in Dec 2013 for $1.2Million on BTCe  -- You see if the Man who purchased the 1000 BTC in DEC had instead  Purchased Cloud Mining power a month Earlier he would have had a very profitable month Cloud Mining... Making your Statement = to mine buying coin = Great Investing in cloud = Great


First off cloud mining has more inherent risk than owning hardware.  With owning hardware you can stop mining at any time and sell the hardware - recouping usually at least 1/2 your initial capitol.  Very few cloud mining contracts let you exit at any time.

I can't really understand what you meant by the part I bolded.  But if you bough a cloud contract back then you would have had a few BTC trickling in everyday as opposed to the 1000BTC sitting in your wallet.  Assuming no slippage on an exchange you will ALWAYS come out ahead versus cloud mining.

Not 1 person has come out yet stating they made their ROI.

I suggest you read this:
https://bitcointalk.org/index.php?topic=739510.0














 

 

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Theo75
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September 03, 2014, 02:32:40 PM
 #20

The decision to use cloudmining services depends on your needs.

There are some people who want to get involved personally (hands-on). Cloud-mining is not for them.

There are numerous other people (many of them almost without any basic knowledge or experience in altcoins) who would be willing to learn but think that this is a difficult task for them (e.g. setting the miners themselves etc.) and/or people lacking the space to have their own miner.

As far as profitability is concerned it all comes to lucky guesses as it always is the case in the crypto world. Can you find a good coin to mine before it becomes a main-stream hit, then you will have profits. Did you put all your money to mine a scam coin you will lose.

Nothing in cryptoworld is straight forward!

Just my 5 cents!
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