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Author Topic: Cloud Mining - Please help a newbie  (Read 81719 times)
notlist3d
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November 19, 2015, 04:55:59 AM
 #601

The big problem I see with calculator is it does not mention difficulty's change and how big of a effect it will have.   Sure... it looks amazing when you calculate a year without any increase in hashrate.  But that is unrealistic they should add difficulty change to calculator I would suggest.  Anyone investing anywhere on mining make sure to use one like - https://bitcoinwisdom.com/bitcoin/calculator where diffficulty is being factored in.

Just like this week difficulty will play a bit role it's shaping up to be  - https://bitcoinwisdom.com/bitcoin/difficulty .  A lot of new gear being pumped out.  And it's almost scary on this change.

Ofcourse it is problem, because for new users it is information about service.

Now i know that this information is useless, but over year ago i thought that it is information about mining capability of this service.

Other words for what is there this calculator? To mislead people!

It all depends the one I linked to is pretty good at giving accurate info, but you have to input data.  Things such as difficulty you cannot know for sure so that is where speculation comes in place.  And some speculation can be off quite a bit.  There is no guarentee of ROI, that is part of mining but also why I like to get hardware myself most of tiime where I own the miner.

As far as https://bitcoinwisdom.com/bitcoin/difficulty it really is not to mislead people.  You just need to learn about bitcoin before using it.  I can see what you mean about being new.  But really if you are new you should read about mining before jumping into it, you have to understand things like difficulty... if not you are not really to point to make good decisions.

I agree if a site uses current difficulty and times it by days .... chances are it's meant to mislead or be used just for this difficulty period. Coinwarz is a good example of one that is not meant to mislead but just does current calculation on mining.  A cloud mining site that uses current mining difficulty and bases a weeks/months/year off of it chances are is trying to mislead.  

You have 100% right but i'm not talking about ROI.
When i buy contract there i know enought about mining and difficulty. Wink
At the beginning CM.W was mining approximately like their calculator shows. Everything was ok.

Now shows that 10ghs can mine around 7000 satoshi (like shows before) - i don't have even half with 130ghs.

This can mislead people. Ofcourse they have:
"Note: Calculated statistical throughput is a theoretical amount. ..."
Ok, "theoretical amount" but if difference is 2000% there is something wrong..  Roll Eyes

Just please don't tell me that their rewards are possible because of difficult increasing Cheesy


Please re-read it again I am saying the opposite.  Difficulty increasing is going to push it down.  The site you mention specifically investing in has bashed me before as I don't like the graph they post sometimes showing ROI over 100 percent like it guarantees future.  I think we are thinking the same thing.

I just listed some better tools for calculating that are not linked to any sales.  So they have no reason to mislead.
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November 19, 2015, 02:06:36 PM
 #602

The big problem I see with calculator is it does not mention difficulty's change and how big of a effect it will have.   Sure... it looks amazing when you calculate a year without any increase in hashrate.  But that is unrealistic they should add difficulty change to calculator I would suggest.  Anyone investing anywhere on mining make sure to use one like - https://bitcoinwisdom.com/bitcoin/calculator where diffficulty is being factored in.

Just like this week difficulty will play a bit role it's shaping up to be  - https://bitcoinwisdom.com/bitcoin/difficulty .  A lot of new gear being pumped out.  And it's almost scary on this change.

Ofcourse it is problem, because for new users it is information about service.

Now i know that this information is useless, but over year ago i thought that it is information about mining capability of this service.

Other words for what is there this calculator? To mislead people!

It all depends the one I linked to is pretty good at giving accurate info, but you have to input data.  Things such as difficulty you cannot know for sure so that is where speculation comes in place.  And some speculation can be off quite a bit.  There is no guarentee of ROI, that is part of mining but also why I like to get hardware myself most of tiime where I own the miner.

As far as https://bitcoinwisdom.com/bitcoin/difficulty it really is not to mislead people.  You just need to learn about bitcoin before using it.  I can see what you mean about being new.  But really if you are new you should read about mining before jumping into it, you have to understand things like difficulty... if not you are not really to point to make good decisions.

I agree if a site uses current difficulty and times it by days .... chances are it's meant to mislead or be used just for this difficulty period. Coinwarz is a good example of one that is not meant to mislead but just does current calculation on mining.  A cloud mining site that uses current mining difficulty and bases a weeks/months/year off of it chances are is trying to mislead.  

You have 100% right but i'm not talking about ROI.
When i buy contract there i know enought about mining and difficulty. Wink
At the beginning CM.W was mining approximately like their calculator shows. Everything was ok.

Now shows that 10ghs can mine around 7000 satoshi (like shows before) - i don't have even half with 130ghs.

This can mislead people. Ofcourse they have:
"Note: Calculated statistical throughput is a theoretical amount. ..."
Ok, "theoretical amount" but if difference is 2000% there is something wrong..  Roll Eyes

Just please don't tell me that their rewards are possible because of difficult increasing Cheesy


Please re-read it again I am saying the opposite.  Difficulty increasing is going to push it down.  The site you mention specifically investing in has bashed me before as I don't like the graph they post sometimes showing ROI over 100 percent like it guarantees future.  I think we are thinking the same thing.

I just listed some better tools for calculating that are not linked to any sales.  So they have no reason to mislead.

Cheesy

Yep, your links are very useful and this is basic tool for everyone who is thinking about mining BTC.

I talk about dirty trick of CM.W and calculator that is showing nice amounts of btc and mislead people who is looking for place to invest money, because they think that it show their (CM.W) mining results.

Maybe now... Wink

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November 20, 2015, 12:43:03 AM
 #603

When it comes to cloud mining, you need to check you ROI (Return On Investment) and the fees you are going to be paying.  You need to be careful, for there are a number of cloud mining scam sites out there that will take your money and run.  Some of them look legit and then fold up.  So take advise from your peers and do your research before you make any larger investments into cloud mining.  You may be better with pool mining where you own your equipment and earn through joining a pool.  Again, just my opinion.

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November 20, 2015, 02:11:01 AM
 #604

When it comes to cloud mining, you need to check you ROI (Return On Investment) and the fees you are going to be paying.  You need to be careful, for there are a number of cloud mining scam sites out there that will take your money and run.  Some of them look legit and then fold up.  So take advise from your peers and do your research before you make any larger investments into cloud mining.  You may be better with pool mining where you own your equipment and earn through joining a pool.  Again, just my opinion.

In your research I still think one of the best indicators is a confirmed valid source saying they have X amount of hardware, or be tied into with hardware company.  Really this would prevent a lot of the scams out there.

It would not stop all sadly.   Gaw miners and Asic Miner's hashing are two examples of failures of this theory.  But 2 is still small compared to the amount of sites that have come and gone calling them self's cloud mining sites.

So more research you do the better.   And don't get all your info from one source.
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November 20, 2015, 02:23:05 AM
 #605

When it comes to cloud mining, you need to check you ROI (Return On Investment) and the fees you are going to be paying.  You need to be careful, for there are a number of cloud mining scam sites out there that will take your money and run.  Some of them look legit and then fold up.  So take advise from your peers and do your research before you make any larger investments into cloud mining.  You may be better with pool mining where you own your equipment and earn through joining a pool.  Again, just my opinion.

i think before you invest you must calculate "the reasonable ROI " and the important of cloudmining is proof of hash/network, or proof of hardware
i prefered  to visit the mining cloud id posible, you can face to face with owner
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November 20, 2015, 03:22:11 AM
 #606

I was recommended in staying away from cloud mining.  I was told that you will rarely make your ROI with in a reasonable time.  I also did some research and some of the fees charged by some of these cloud mining are outstandingly high.  I may be wrong, but after i was warned off of them, I stopped my research.



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November 23, 2015, 04:45:52 PM
 #607

I was recommended in staying away from cloud mining.  I was told that you will rarely make your ROI with in a reasonable time.  I also did some research and some of the fees charged by some of these cloud mining are outstandingly high.  I may be wrong, but after i was warned off of them, I stopped my research.
People first recommended me to stay away from bitcoin.

Then they recommended me to stay away from cloud mining.

I did not listen to either of the above and today, my initial investment has got more than double with www.cloudmining.website. Here is today's payment that I have received...

https://blockchain.info/tx/648015dae8fc5c698ca9cba9adf32f846aee8183d6d7056a6527d6bba7bd02a2

Now, I recommend people to take some risk.
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November 23, 2015, 05:38:38 PM
 #608

I was recommended in staying away from cloud mining.  I was told that you will rarely make your ROI with in a reasonable time.  I also did some research and some of the fees charged by some of these cloud mining are outstandingly high.  I may be wrong, but after i was warned off of them, I stopped my research.
People first recommended me to stay away from bitcoin.

Then they recommended me to stay away from cloud mining.

I did not listen to either of the above and today, my initial investment has got more than double with www.cloudmining.website. Here is today's payment that I have received...

https://blockchain.info/tx/648015dae8fc5c698ca9cba9adf32f846aee8183d6d7056a6527d6bba7bd02a2

Now, I recommend people to take some risk.
Cloud mining is not recommended to newbie.But if s/he already to take a risk.
I will suggest to invest few bitcoins in the first time then after you receive all your roi use dont use capital again instead use profit that you earn in your capital.. So no worry even its scam..

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November 24, 2015, 01:34:57 AM
 #609

When it comes to cloud mining, you need to check you ROI (Return On Investment) and the fees you are going to be paying.  You need to be careful, for there are a number of cloud mining scam sites out there that will take your money and run.  Some of them look legit and then fold up.  So take advise from your peers and do your research before you make any larger investments into cloud mining.  You may be better with pool mining where you own your equipment and earn through joining a pool.  Again, just my opinion.

i think before you invest you must calculate "the reasonable ROI " and the important of cloudmining is proof of hash/network, or proof of hardware
i prefered  to visit the mining cloud id posible, you can face to face with owner

It would be hard to visit most of the ones out there.  I know some of these keep location secret as a security measure, which is understandable if truly they own all the equipment.

I think best we have are vouches from hardware companies, or ones by hardware companies (legit ones).  Very few fall in this, there is one specifically that dodges any questions about hardware manufacture.

It's not perfect and can't stop all scams, but having that vouch does cut down amount of scams quiet a bit.

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November 24, 2015, 07:54:32 AM
 #610

I'm also thinking to invest in cloud mining service, at least 50 dollars, just to se how it works. Hope I will success too Cheesy
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November 24, 2015, 08:23:04 AM
 #611

I did not listen to either of the above and today, my initial investment has got more than double with www.cloudmining.website. Here is today's payment that I have received...

Cloud mining is generally all a scam as the legit operations can't actually offer a profit at current prices, but you know this already and are simply shilling hard for your favourite ponzi scam.

Don't think it isn't patently obvious that the only reason you opened this thread in this particular sub-forum is to trap noobs into believing you are legit because here they can't see the red writing under your username that shows you to be untrustworthy.

PSA: Vitamin King is shilling for cloudmining.website in order to get newbies to join the ponzi scheme so he can profit from their deposits before the scam collapses. You have been warned.


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November 25, 2015, 10:18:24 PM
 #612

Don't think it isn't patently obvious that the only reason you opened this thread in this particular sub-forum is to trap noobs into believing you are legit because here they can't see the red writing under your username that shows you to be untrustworthy.
I prefer not to argue with a hypocrite having a criminal mindset like yours. You are stupendously shedding blind eye against certain obvious scams (read AM hash, Genesis Mining, Bit-X, Hashie etc.) on this forum which was pointed out to you by various persons at different time. Your only motive to use your DefaultTrust position is to weed out any competition legit/illegit whatsoever.

This post is meant only for the general public to know that when I created this thread, I was doubtful about www.cloudmining.website. At that point, cryptodevil was not in DefaultTrust. So, I had no reason hide my trust rating, which has been turned red by cryptodevil for not supporting his preferred cloud mining operation.

Now, people, judge yourself.
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November 26, 2015, 02:10:57 AM
 #613

Don't think it isn't patently obvious that the only reason you opened this thread in this particular sub-forum is to trap noobs into believing you are legit because here they can't see the red writing under your username that shows you to be untrustworthy.
I prefer not to argue with a hypocrite having a criminal mindset like yours. You are stupendously shedding blind eye against certain obvious scams (read AM hash, Genesis Mining, Bit-X, Hashie etc.) on this forum which was pointed out to you by various persons at different time. Your only motive to use your DefaultTrust position is to weed out any competition legit/illegit whatsoever.

This post is meant only for the general public to know that when I created this thread, I was doubtful about www.cloudmining.website. At that point, cryptodevil was not in DefaultTrust. So, I had no reason hide my trust rating, which has been turned red by cryptodevil for not supporting his preferred cloud mining operation.

Now, people, judge yourself.

Why do you put Bit-X as a obvious scam?  They have confirmed hardware from Bitfury.  Can you point to a thread or something to back it up on anyone being scammed?  They are mainly a exchange, but do have cloud mining.. confirmed from Bitfury.

Also care to tell us the reason you removed signature? For those that have not seen he has been wearing a cloudmining.website sig for months.  His trust got hit from wearing it amoung other things.  Are you distancing your self from site?
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November 26, 2015, 06:33:20 AM
 #614

I prefer not to argue with a hypocrite having a criminal mindset like yours. You are stupendously shedding blind eye against certain obvious scams (read AM hash, Genesis Mining, Bit-X, Hashie etc.) on this forum which was pointed out to you by various persons at different time. Your only motive to use your DefaultTrust position is to weed out any competition legit/illegit whatsoever.

Utter bullshit. I promote nothing. As far as I'm concerned all 'cloud mining' services should be avoided like the plague. All I'm doing is helping newbies to be aware of the obvious ponzi scams and their shills, like yours and you.

But, still, thanks for providing a perfect example of how untrustworthy you are by employing patently dishonest argument in your reply, namely, attempting to deflect from the criminal nature of your shilling for obvious-ponzi-is-obvious cloudmining.website by lazily, and without any basis whatsoever, accusing me of wrongdoing.

GermanGiant, who is probably just an alt of yours anyway, or at least is part of the active shilling for this scam, tried the same dishonest accusation, too. It was promptly exposed as the baseless deflection attempt it was then, as well.

Also care to tell us the reason you removed signature? For those that have not seen he has been wearing a cloudmining.website sig for months.  His trust got hit from wearing it amoung other things.  Are you distancing your self from site?
LOL!!

Busted!




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November 26, 2015, 06:40:18 AM
 #615

Seems OP removed that, in general i think that cloud mining are a game which the clients do nothing just watch virtual chart how much they can earn, i never recommend anyone to spend their money in cloud mining as they can be easily be scammed by these websites. 

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November 26, 2015, 08:23:47 AM
 #616

I was recommended in staying away from cloud mining.  I was told that you will rarely make your ROI with in a reasonable time.  I also did some research and some of the fees charged by some of these cloud mining are outstandingly high.  I may be wrong, but after i was warned off of them, I stopped my research.
People first recommended me to stay away from bitcoin.

Then they recommended me to stay away from cloud mining.

I did not listen to either of the above and today, my initial investment has got more than double with www.cloudmining.website. Here is today's payment that I have received...

https://blockchain.info/tx/648015dae8fc5c698ca9cba9adf32f846aee8183d6d7056a6527d6bba7bd02a2

Now, I recommend people to take some risk.
Couldmining will not suits for all member especially for newbies, Newbies would be try learn and then have to go with faucet for some while and then can invest some money and they can do couldmining or trading or own faucet.
bluesclues
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November 26, 2015, 05:06:28 PM
 #617

I have been reading this thread for about an hours now and I am wondering if it is worth the risk to try this cloud mining.  When you are mining, is there a way that the fees will rise after you pay for your month?  I am not understanding. 
notlist3d
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November 26, 2015, 05:27:16 PM
 #618

I have been reading this thread for about an hours now and I am wondering if it is worth the risk to try this cloud mining.  When you are mining, is there a way that the fees will rise after you pay for your month?  I am not understanding. 

Fees should not rise ...  if legit there should be something showing on the site the cost.  Normally they take it out of BTC before you ever get it.  But fees do become a bigger portion of miner's earnings over time.  With difficulty raising at some point the miner will cost more to run then it's making. 

Ass far as risk being worth it with cloud or normal hardware it's very individual decision.  Just make sure not to invest more then you can lose. Be a cautious investor.
number2
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November 26, 2015, 05:48:00 PM
 #619

I have been doing some research in cloud mining and I have not found any of them they are a good return on my investment.  There are some with a return, but I think I would make more doing faucets, and we all know about how useful that is!!
sambiohazard
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November 26, 2015, 07:09:36 PM
 #620

You can use links in my signature for cloud mining. I have found Genesis Mining very reliable & transparent in their dealings. There ROI time is a bit long but i will better be safe than sorry. I have been using there service for 6-7 months now and fully satisfied.

I am also trying gigahash.com with small amounts & no problems until now. both have daily payouts. All the best

Regards

Sam Smiley

Rent Rigs @ MiningRigRentals: https://www.miningrigrentals.com/register?ref=9685 | Mine Zcash, X11, ETH, BTC, LTC hashrate available @ Genesis Mining: 9yx2ib (Promo Code for 3% off)
Sell & Buy/Rent hashing power @ Nicehash.com: https://www.nicehash.com/?refby=63551
Trade BTCINR on Coinsecure.in (Global trade available: http://blog.coinsecure.in/post/153309186530/coinsecure-goes-global-by-reducing-the-barrier-for): https://coinsecure.in/signup/z5ehHIOLvHN5sWAq3wTu
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