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Author Topic: Thinking about doing some Cloud Mining? Read this first  (Read 3885 times)
OmarBessa
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September 23, 2014, 11:18:11 PM
 #21

You're welcome cryptost, if you've got info on your earnings on both cloud mining providers, I could use them to update this function or create new ones.
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September 24, 2014, 04:58:32 PM
 #22

You're welcome cryptost, if you've got info on your earnings on both cloud mining providers, I could use them to update this function or create new ones.

LTC gear have just finished multiplication giving me a nice 560 additional shares, they do this every month and a half to keep the system profitable.
ROI target on LTCGear now for me is around a month, GAW I have it as around 3 months though a lot changes over there quick and we are having a big update on Primes this week apparently.

GAW rate at the mo is 0.00060396 Per MH Before rates which are currently 0.08USD Per MH
LTC Gear is 0.02303218 LTC / 7 days / 1 ASIC Share, with the offer in my sig you get 1600 as standard, as I signed up before the multiplier I now have an additional 560 shares.

The standard works out around 36LTC a week with no fees for first year at the moment at a price of $850, if paid in BTC, the coupon gives you 49% off for a short period and then an additional 8% for using BTC.

I will update here on 26th when the next payment arrives.
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September 24, 2014, 06:38:05 PM
 #23

cryptost, thanks for the update!

There's a problem with single data points, even if they are averages. I can't infer functions from them. While it is always useful and good to have more data available, what I would need to create a model is preferably a spreadsheet with the following:

* BTC earnings in a (preferably) constant period. A measure every week is what I used for the article in the model.
* The amount of hashing power for that same period.

If you would like to contribute, the best way would be with a spreadsheet with at least three months data. Lesser amounts of time can work too, but the model's accuracy will suffer. The difficulty swings in unexpected ways.

Thanks again for your data!
btckold24
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September 25, 2014, 06:39:12 AM
 #24

Great article! Also read the other article about cloud mining, at the bottom of the page there is a link.



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OmarBessa
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September 25, 2014, 06:40:25 AM
 #25

Thanks btckold24. I'm right now writing a new one. That should be even better than the previous two, and it has a calculator. Wink
Kprawn
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September 26, 2014, 07:19:58 AM
 #26

Very good article, thx.

My CEX/Ghash profits are being eaten alive by maintenance fees. Crazy how we pay other people to mine for us and then you actually pay, so that they can mine for themselves.

Anyways... If all I gain is experience, it was money well spend.  Wink

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CliveK
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September 26, 2014, 10:31:29 AM
 #27

Very good article, thx.

My CEX/Ghash profits are being eaten alive by maintenance fees. Crazy how we pay other people to mine for us and then you actually pay, so that they can mine for themselves.

Anyways... If all I gain is experience, it was money well spend.  Wink

Positively for you, the fees have come down at Ghash.io so perhaps you will be making something now Smiley
testerman
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September 28, 2014, 08:57:37 AM
 #28

Very good article, thx.

My CEX/Ghash profits are being eaten alive by maintenance fees. Crazy how we pay other people to mine for us and then you actually pay, so that they can mine for themselves.

Anyways... If all I gain is experience, it was money well spend.  Wink

Positively for you, the fees have come down at Ghash.io so perhaps you will be making something now Smiley

cex.io fees has reduced to average 35% at the moment, some fees even below 10%.. they make decent decrease in fees.

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September 28, 2014, 12:56:07 PM
 #29

CEX is GH TRADING NOT CLOUD MINING!!!

(it even says that at the top of the screen "Bitcoin Crypto Exchange")

PHYSIBIT, MANTIS CRYPTOS & CRYPTO QUILTS - The best and most trusted places to shop for physical bitcoins and more!!
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September 28, 2014, 01:37:00 PM
 #30

Speaking of cloud mining:

Does anyone know if old zeushash


is the same as the new zeushash (beta)Huh



Will my MH/GH transfer??

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wec
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September 28, 2014, 11:57:57 PM
 #31

well that article doesn't mean anything if you are going to GM cause you have BTC auto there...
FragCakes8
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September 29, 2014, 02:14:34 AM
 #32

Informative article. I was thinking about starting cloud mining. Your post help me to take a decision.
elgimpo
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September 29, 2014, 07:58:55 AM
 #33

Be diverse if you are starting in cloud mining, any one of them can go in any direction on any given day.
Spread out your risk.
Borisz
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September 29, 2014, 09:19:03 AM
 #34

Very good article, thx.

My CEX/Ghash profits are being eaten alive by maintenance fees. Crazy how we pay other people to mine for us and then you actually pay, so that they can mine for themselves.

Anyways... If all I gain is experience, it was money well spend.  Wink

Positively for you, the fees have come down at Ghash.io so perhaps you will be making something now Smiley

cex.io fees has reduced to average 35% at the moment, some fees even below 10%.. they make decent decrease in fees.
Using cex.io calculators:
As of now the maintenance+electricity fee is 0.105$/GH.month (https://cex.io/maintenance)
The profit in the first month is 0.0004BTC, @400$/BTC it gives 0.16$/GH.month (https://mining.cex.io/calc)
Subsequent months have lower profits due to increased difficulty.

That is not a sub 10% fee.
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September 29, 2014, 11:29:56 PM
 #35

Be diverse if you are starting in cloud mining, any one of them can go in any direction on any given day.
Spread out your risk.

I agree that it is wise to spread your risk, I have Gaw Hashlets and Ltcgear shares I also have 2 Antminers at home, I would do more hardware mining if the electricity was not so expensive!

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September 30, 2014, 02:29:03 AM
 #36

Wow, thanks a ton.  That was an absolutely fantastic read that definitely cleared up a few preconceived misconceptions I'd had previously
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September 30, 2014, 03:27:18 AM
 #37

Be diverse if you are starting in cloud mining, any one of them can go in any direction on any given day.
Spread out your risk.

I agree that it is wise to spread your risk, I have Gaw Hashlets and Ltcgear shares I also have 2 Antminers at home, I would do more hardware mining if the electricity was not so expensive!

How are the GAW's Hashlets? I see people recommend them a lot. They are talking about 40% ROI from Hashlets. Are they really that good?


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Ilan123
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September 30, 2014, 05:26:00 PM
 #38

Be diverse if you are starting in cloud mining, any one of them can go in any direction on any given day.
Spread out your risk.

I agree that it is wise to spread your risk, I have Gaw Hashlets and Ltcgear shares I also have 2 Antminers at home, I would do more hardware mining if the electricity was not so expensive!

How are the GAW's Hashlets? I see people recommend them a lot. They are talking about 40% ROI from Hashlets. Are they really that good?

I bought my Prime hashlets whilst they were $16.00 and also some at $20.00 and $25.00 so I have already done well as the price has gone up to $50. Soon when they sort out all of the bugs they are having currently they will open up the Prime buy back scheme. Josh intends to pay 80% of the current selling price. So anyone that bought them in the early days will ROI instantly! As for now Zen's are your best purchase IMO and you will ROI with them as the pool pays well.

https://goo.gl/McW8yG dock.io is a network built on blockchain and is transforming the professional industry.

Join one of the fastest growing professional networks in the world and earn tokens for your early contributions to the network.
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September 30, 2014, 06:34:00 PM
 #39

A good reasoned article.
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September 30, 2014, 07:04:52 PM
 #40

Good Article A+

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Join one of the fastest growing professional networks in the world and earn tokens for your early contributions to the network.
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