Are there non-scammy scrypt cloud mining services out there?

[P4ndoraBox7]

In fact, i'm good at math. I have a proof of daily payout on my blog since 15th september or so...with screenshots and I can say its very profitable.

No contract, you can sell your Hashlets when you want so... I cannot say how it could affect bitcoin price, I think someone who buy for one or 2 million of mining rigs will still have an impact on bitcoin price, you tell me.

With the Zen Hashlets and the Prime Hashlets, we mine on Zenpool, its exclusive at GAWMiners and we can still mine in Altcoin, not only bitcoins. I always suggest to buy only theses one at the moment and..I can say my rates is ok, Zen Hashlet got a ROI of 130-140 days.

Certainly, tricking people into believing they are going to make money hashing can be profitable if you make money with affiliate revenue, but that isn't exactly ethical is it?   Can you humor us with your math proving 130 day ROI?  Even if you ignored history and assumed a 0% difficulty increase you will still never make a return on investment with the 447.50 GAWMiners Hashlet.


Here is a tool if you need help with your math --- https://bitcoinwisdom.com/bitcoin/calculator

What are you assuming that difficulty doesn't increase?

Yes there are a lot of Hashlets...Yes some have a ROI of 220 days, that's why I only recommend Zen Hashlets and Prime Hashlets at the moment.

All the daily rates of Zenpool are on my blog and you can notice its stable at ; 0.00061014 BTC / MH

A fan on Hashtalk made this spreadsheet ;

http://gawminersaffiliate.blogspot.ca/2014/09/roi-calculator-sheet.html

I dont recommend Clever, Waffle and Multi cause the ROI is not good and the pools rates vary a lot.

Zen Hashlet is stable and its the one I use most.

I don't have a lot of Primes even if GAWMiners say its futureproof and have some features. I'm waiting for the tonight or tomorrow announcement and for the Project Prime before investing in some more Primes Hashlet.

So if you go with Zen, yes its possible...Like anything you want the best for your money, so did I.

[P4ndoraBox7]

And....to be honest...I'm still a newbie ( 1 month of mining ) and I know that I'm late so I try the climb the hill the fastest I can for now and GAWMiners gave me that opportunity. I tried to mine on hardware and gosh I was lost...

[inBitweTrust]

And....to be honest...I'm still a newbie ( 1 month of mining ) and I know that I'm late so I try the climb the hill the fastest I can for now and GAWMiners gave me that opportunity. I tried to mine on hardware and gosh I was lost...

I apologize for being rude. Please do yourself a favor and look at this:

https://blockchain.info/charts/difficulty

and use this calculator :
https://bitcoinwisdom.com/bitcoin/calculator

Set watts to 0 , mining pool fee to 0, Electricity Price to 0, 20% difficulty and than pop in your payment and the hashing power to see for yourself how you will definitely lose money vs buying bitcoin directly.

My advice to you is to resell the hashlet as soon as possible and stopping promoting cloud mining.

[inBitweTrust]

The essential idea of cloud mining disgusts me. It is bad enough we have centralized pools, let alone centralized mining warehouses. Please don't encourage this behavior. The only justification for centralized mining is if all of the members owned the company and equipment equally and had equal rights as any other shareholder with the ability to remove their share of equipment at any time.

Although this is a good point, many people will ignore your advice. There are many people who are interested in mining but do not have the technical expertise nor the time to invest in a miner. As a result they doing it the "easy" way and will purchase a cloud mining contract

Yes, it also doesn't help that many of these cloud mining companies provide helpful little calculators which ignore difficulty increasing, and thus are blatantly scamming the credulous. It's no wonder many of our fellow comrades are jumping ship and adopting PoS/DPoS coins. There is only so much of this people will take and eventually most of these investors will realize they were scammed.

Something needs to be done about this... seriously.

[P4ndoraBox7]

I understand your point. The Hashlet Prime was built for long term and to go against increasing difficulty. If new Hardware arrives on the market, Prime will be automatically upgraded to them...For the Zen, yes I can say maybe in a few months it will change a bit.

Instead of calculator or whatever we chat with the founders and staff directly on hashtalk.org, I think its better like this.

If it was me at first I would have a lot Antminers, but then I step up when I calculated my electricity bill.

Anyway with the Zenpool its the difficultys of other algorithms...Only the Hashlet Genesis will be affect. GAW_CEO last week gave +50% hashrate power for all the Genesis Hashlets owner and the price as dropped by 1$...

The last bitcoin crisis of 275 USD yes I should have bought some, would have been more profitable this way sometimes.

[P4ndoraBox7]

I didnt know about Bitcoin wisdom, its nice.

[QuestionAuthority]

I can see at least one reason for cloud mining. When I first came here lots of people were buying drugs on Silk Road. Hell, even the forum had a guy named Flaxseed (https://bitcointalk.org/index.php?topic=236305.0) selling drugs in the marketplace for a long time. They wanted to get their Bitcoin without buying it or giving up any info so they mine. If you don't want to meet someone face to face or give up your identity to buy btc for drugs couldn't you just rent a miner for a short time? I'm not sure how the rentals work, do you need ID to rent a short term miner?

[P4ndoraBox7]

Not sure to quite understand....

[inBitweTrust]

Not sure to quite understand....

Since cloud mining is definitely a losing proposition we are trying to justify any reason for its existence. One possible reason is virgin coins are impossible to track are useful for buying drugs on the dark market...

Did you need to provide ID?

[P4ndoraBox7]

Ah ok now I understand.

Nope, no ID.

[fryarminer]

I can see at least one reason for cloud mining. When I first came here lots of people were buying drugs on Silk Road. Hell, even the forum had a guy named Flaxseed (https://bitcointalk.org/index.php?topic=236305.0) selling drugs in the marketplace for a long time. They wanted to get their Bitcoin without buying it or giving up any info so they mine. If you don't want to meet someone face to face or give up your identity to buy btc for drugs couldn't you just rent a miner for a short time? I'm not sure how the rentals work, do you need ID to rent a short term miner?

This is true. I used to mine on Eligius directly to a Casascius bar. The irs has no record of how many bitcoins they are. Nor could it ever be proven.

[BombaUcigasa]

I know some people that sell hashrate through cloud mining services. They make 30-40% profit by selling to you, than mining alone. You obtain the same bitcoin value as them, but you pay 30-40% more for it. Why?!

If you want to mine, buy equipment and mine yourself. Otherwise just buy some coins.

[QuestionAuthority]

Ah ok now I understand.

Nope, no ID.

If no ID then I understand cloud mining for short term contracts even if you don't make as big a profit as buying an expensive ASIC miner. It facilitates the purchase of illegal items so your main concern isn't profit. I'm not passing judgement. That's where Bitcoin started. Cloud mining is just carrying on the tradition.

[inBitweTrust]

If no ID then I understand cloud mining for short term contracts even if you don't make as big a profit as buying an expensive ASIC miner. It facilitates the purchase of illegal items so your main concern isn't profit. I'm not passing judgement. That's where Bitcoin started. Cloud mining is just carrying on the tradition.

I don't see any short term contracts with cloud mining though ... Do they even exist?

[xephyr]

So I want to try and find some long term cloud mining contracts or indefinite shares in the stuff but it's become quite difficult for me because almost all of them seem to be either quite scammy or at the very least have a lot of suspicion around them. Does anybody actually know any services they'd vouch for? Also, I'll know if you're trying to affiliate spam so don't even bother.

I'm trying to find some passive investments but it seems to be quite difficult seeing as how the more you look at this kind of stuff the more suspicious a lot of these things get.

No problem. I have had very good returns from Litecoin GEAR and original Hashlets bought at $16. GAWMiners is running a sale today only in ZenPortal on Hashlets, you can pick up ZenHashlets for $17.95. I track returns on all my cloud mining investments at the forum in my signature. None of the providers I use are fly by nite. Litecoin GEAR has been in business over a year now and has always provided the best ROI. Hope this helps.

[QuestionAuthority]

If no ID then I understand cloud mining for short term contracts even if you don't make as big a profit as buying an expensive ASIC miner. It facilitates the purchase of illegal items so your main concern isn't profit. I'm not passing judgement. That's where Bitcoin started. Cloud mining is just carrying on the tradition.

I don't see any short term contracts with cloud mining though ... Do they even exist?

They seem kind of silly but yeah, they exist. There are even 24 hour, wink wink, trial contracts. Those seem perfectly suited to drug sales.

https://groupbitcoins.com

[P4ndoraBox7]

LTC and GAWMiners have the best reputations for now.

[damiano]

Ltc gear is quite popular right now.  I don't own any shares, but I have been looking into them a lot lately.  I have some gaw hashlets which I honestly don't care for anymore.  

Genesis mining is also pretty good from what I've read.



Edit: I bought my primes for 15.99, no way in hell I would buy them at current prices