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Author Topic: Cloud Mining - Please help a newbie  (Read 81753 times)
loan4
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March 31, 2015, 11:10:26 AM
 #201

I really don't know what is mining?, What is miners? and what is Cloud Mining? Where can I can mine it and how to mine ?

Thanks !
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March 31, 2015, 12:36:12 PM
 #202

I really don't know what is mining?, What is miners? and what is Cloud Mining? Where can I can mine it and how to mine ?

Thanks !

On this forum is a separate thread about that, there for sure you will find answers to your questions:
https://bitcointalk.org/index.php?board=14.0

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March 31, 2015, 02:18:38 PM
 #203

Even with the best ASIC (AntMiner S5), mining/cloud mining are very risky
Cloud mining service offer lower maintenance & electricity fee so you could made ROI faster, but they could be ponzi / run away with customer funds
Mining required some skills & usually uses bigger maintenance / electricity fee than cloud mining so cloud made ROI slower, but nobody won't scam you

If you haven't ready to take the risk, don't invest in mining/cloud mining

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March 31, 2015, 02:52:13 PM
 #204

I'm not believe in cloud mining... Got scammed 0.2BTC 4 months ago never try that again
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March 31, 2015, 02:54:02 PM
 #205

Try renting instead of cloud mining.  There's BTC to be made

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April 01, 2015, 06:14:32 AM
 #206

Try renting instead of cloud mining.  There's BTC to be made

How much does it cost for rent ? How long is ROI ?

Sincere thanks !
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April 01, 2015, 10:00:12 AM
 #207

Try renting instead of cloud mining.  There's BTC to be made

Do you think about VPS, or something else?

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April 07, 2015, 10:59:22 AM
 #208

Try renting instead of cloud mining.  There's BTC to be made

Did not get you. What to rent ? Renting Hash Power is called Cloud Mining indeed...
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April 07, 2015, 12:58:10 PM
 #209

Try renting instead of cloud mining.  There's BTC to be made

People usually choose cloud mining because they don't rent miners because most of them is overpriced and most of the times you will get less than what you invested.

How much does it cost for rent ? How long is ROI ?

Sincere thanks !

It depends on whose miner you rent. Nicehash and Miningrigrentals are good site to rent miners. They usually lease miners just below the profit or equal to it but most times, higher than what you can get.

You probably will get profit if you choose a 0-1% fee pool. ROI will be quicker than you buy hashrate from companies because the period and the rate will be shorter.

You should check every factors carefully before you start investing. It is better to rent a miner from one of the members here than using sites such as Nicehash and Miningrigrentals because of the fee.

Do you think about VPS, or something else?

Nope. Renting others miners which is for lease.

Did not get you. What to rent ? Renting Hash Power is called Cloud Mining indeed...

Indeed it is but people(incl. me) usually use "cloud mining" if it is provided by companies. Eg:- Cex.io*, BIT-X, Hashnest and KncCloud. If I rent and/or lease, most of them don't say "cloud mining", they say "I am remting" and/or "I am leasing" and it isn't wrong at all unless they say "it isn't cloud mining".

* Cex.io stopped their "cloud mining" service but it is still open for trading.

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April 07, 2015, 03:56:27 PM
 #210

Since the op is asking for specific providers, I figure theres already thread for this.

But, you should go with a asic provider, since they can also produce the asic machines if they choose to provide more out you know they can fulfill the order. Then just becoming a unknown operator or being a ponzi.

https://bitcointalk.org/index.php?topic=878387.0

Go with spoondlies partner genesis mining, they accept credit cards. So you can actually chargeback if worse case scenario.

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April 07, 2015, 05:42:36 PM
 #211

I have thought about investing in cloud mining. I haven't made a decision yet though...

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April 08, 2015, 05:57:20 AM
 #212

I have thought about investing in cloud mining. I haven't made a decision yet though...

From what I've read on this forum it looks like it was a good decision not to make a decision. Everybody is just mad at all the scams and talking more about how to get their money back not how to make some more. Risky times..

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April 08, 2015, 06:21:39 AM
 #213

I have thought about investing in cloud mining. I haven't made a decision yet though...

From what I've read on this forum it looks like it was a good decision not to make a decision. Everybody is just mad at all the scams and talking more about how to get their money back not how to make some more. Risky times..

Nope. Most people who lost their BTC were warned by community that the place they are going to invest is Ponzi(eg:- PBMining). They want "rich-quick". They didn't observe it closely. They looked from a far place and saw that the road is straight and well furnished. But they were wrong.

 There are people who got profit by investing, however, in these times, where value is low, you won't get much profit.

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April 08, 2015, 06:32:23 AM
 #214

What about these people that lost in legit sites like amhash and gaw? Well, gaw is not very legit, but at least it is a registered company with public owners (going to jail soontm) and it is rated quite good in Puppet list having in mind how scammy they are.

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April 08, 2015, 08:02:31 AM
 #215

What about these people that lost in legit sites like amhash and gaw? Well, gaw is not very legit, but at least it is a registered company with public owners (going to jail soontm) and it is rated quite good in Puppet list having in mind how scammy they are.

Investing in GAW was warned by community especially their ponzi coin.

I don't blame AMHash completely assuming it wasn't a planned theft. Anyway, there is risk in everything and I didn't only tell about ponzi sites. I used "most" but I understand it can does have a second meaning.

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April 09, 2015, 10:46:58 AM
 #216

How can you know when the theft is planned and when it is not? Only by the explanation given by the company when they stop paying? I think Ganza would say it was unplanned theft also  Grin
In fact he said that at this ''excuse me'' explanation on hashtalk, where he told he didn't mean to scam anyone it just happened that the company grew too fast. I think both are the same liars and thieves. Its just Ganza is more funny cause he's doin his scams in a freaky weird ways.

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April 13, 2015, 11:15:03 PM
 #217

What about these people that lost in legit sites like amhash and gaw? Well, gaw is not very legit, but at least it is a registered company with public owners (going to jail soontm) and it is rated quite good in Puppet list having in mind how scammy they are.

Investing in GAW was warned by community especially their ponzi coin.

I don't blame AMHash completely assuming it wasn't a planned theft. Anyway, there is risk in everything and I didn't only tell about ponzi sites. I used "most" but I understand it can does have a second meaning.

From the mail communication that Rock Xie published later, it seems FriedCat's theft was indeed planned.

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April 14, 2015, 04:10:39 AM
 #218

I'm not believe in cloud mining... Got scammed 0.2BTC 4 months ago never try that again

sounds about right, but which cloudmining did you go with? believe it or not, there is 2 providers that are actually legit, since they are asic producers that can be back up hashes they need to at any given point in time.

spoondoolies partner up with genesis mining also accepts credit card, so if anything does go bad you can do a charge back. which I did point out earlier on this thread, but I feel like most wont check it out unless I repeat the awareness of the better options here.

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April 14, 2015, 07:05:28 AM
 #219

What about these people that lost in legit sites like amhash and gaw? Well, gaw is not very legit, but at least it is a registered company with public owners (going to jail soontm) and it is rated quite good in Puppet list having in mind how scammy they are.

Investing in GAW was warned by community especially their ponzi coin.

I don't blame AMHash completely assuming it wasn't a planned theft. Anyway, there is risk in everything and I didn't only tell about ponzi sites. I used "most" but I understand it can does have a second meaning.

From the mail communication that Rock Xie published later, it seems FriedCat's theft was indeed planned.

Of course it was planned, well, unless he decided to steal spontaneously which I kinda doubt a bit Grin
On a more serious note this whole scheme involving different companies etc looks complicated, maybe even complicated on purpose. And the offering price, fees and even compensation after liquidation (not AMHashLC, but that initial compensation of ending contract after it is unprofitable)was a bit too good at the start when you look back..

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April 16, 2015, 06:34:24 AM
 #220

Id recommend stakeminer.com its new but don't have huge minimums for a stake.



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