Cloud Mining - Please help a newbie

[scott btc]

many cloud mining "company"  offer us some contracts with crazy prices...just be careful,
it might be a scam attempt

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[grendel25]

at this point I'm ready to say that bitcoin is just very risky which is why the price is so low and may go lower.  Then again it could soar tomorrow and leave everyone chasing it.  The point is that unless you have a really good education in this already and have lots of energy to put into it for trading exchanges, hardware, researching cloud/hyip/ponzi then you're better off to treat this as entertainment and only risk what you're ready to lose.

Basically it's all good.  I've been riding a cloudmine for about 2 months and it's been up for about 6 (bitmininglcoudservices) but it's been accused of being a ponzi so i'm just hoping it lasts long enough for me to roi... who knows lol

[newIndia]

at this point I'm ready to say that bitcoin is just very risky which is why the price is so low and may go lower.  Then again it could soar tomorrow and leave everyone chasing it.  The point is that unless you have a really good education in this already and have lots of energy to put into it for trading exchanges, hardware, researching cloud/hyip/ponzi then you're better off to treat this as entertainment and only risk what you're ready to lose.

Basically it's all good.  I've been riding a cloudmine for about 2 months and it's been up for about 6 (bitmininglcoudservices) but it's been accused of being a ponzi so i'm just hoping it lasts long enough for me to roi... who knows lol

If u r ready to take the risk, then there are cheaper ones available where u'll ROI faster...

http://www.cmmonitor.com/24-cloudmining-website.html

[MEPHuk]

I always wanted to mine but never had enough resource. Over month, I have gathered around 0.11BTC from faucets and twitter giveaways, with which I want to buy hash power. The cheapest one I see around is offered by www.cloudmining.website, which is 0.001 BTC/GHs. But, before I invest, I'd like to know what people want to say about their experience about this service. As it seems, at current difficulty, I should reach ROI at 4 month. Please advise...

I currently have invested in cloudminr myself, on target for ROI for about 12-14 weeks (varies), but i always advise new people to think of it as a gamble, only invest what you can afford to lose.

[GermanGiant]

I always wanted to mine but never had enough resource. Over month, I have gathered around 0.11BTC from faucets and twitter giveaways, with which I want to buy hash power. The cheapest one I see around is offered by www.cloudmining.website, which is 0.001 BTC/GHs. But, before I invest, I'd like to know what people want to say about their experience about this service. As it seems, at current difficulty, I should reach ROI at 4 month. Please advise...

I currently have invested in cloudminr myself, on target for ROI for about 12-14 weeks (varies), but i always advise new people to think of it as a gamble, only invest what you can afford to lose.

Golden Advice. Same applies for www.CloudMining.website. They are giving ROI within 114 days...



Source: http://www.cmmonitor.com/24-cloudmining-website.html

[Dread Pirate Roberts]

hmm legit cloudmining i know just cex.io
but the fee and rate price its killing people slowly.

[mlferro]

sorry for my sincerity. Stay away from cloud mining

[techgeek]

in my view, mining in general is dead unless you have a mass amount of cash plus willing to off set maintenance cost.

if you look at cloud mining sites, most turn out to be a ponzi eg: pbmining that fooled people in the 1 year doing promotions etc.

The best way to gain bitcoin, would be seeing a normal fiat business to buy more bitcoin at an exchange when prices are right.

[kotwica666]

in my view, mining in general is dead unless you have a mass amount of cash plus willing to off set maintenance cost.

if you look at cloud mining sites, most turn out to be a ponzi eg: pbmining that fooled people in the 1 year doing promotions etc.

The best way to gain bitcoin, would be seeing a normal fiat business to buy more bitcoin at an exchange when prices are right.

Hmm.. So if you have "mass amount of cash" mining is not dead? If not is dead 

Just check Bitmain for hardware and Hashnest for cloud mining..

[Kazimir]

When will people ever learn

[ranochigo]

cloud mining is like a ponzy .... a kinde of scam  so take care

If company has no miners and just invest money it is ponzi. But we have pretty reputable companies which actually mine. Just stay away from the shady ones.

Is there any reputable company left which is profitable, considering the ever rising difficulty of the network ?

No. Due to the recent price crash, Maintainence fees/GH has risen thus your profit would be very low. Most reputable company charges large sum for a small hashrate.

[TheGrapist]

Cloud mining was good but i lost so much in pbmining

[Muhammed Zakir]

Cloud mining was good but i lost so much in pbmining

This isn't why you shouldn't invest on fake cloud mining providers, they are Ponzi schemes. Only invest in site which provide proof for their mining and don't invest more than you can loose because humans are unpredictable. Even legit services will turn out to be a scam anytime.

   -MZ

[TheGrapist]

Cloud mining was good but i lost so much in pbmining

This isn't why you shouldn't invest on fake cloud mining providers, they are Ponzi schemes. Only invest in site which provide proof for their mining and don't invest more than you can loose because humans are unpredictable. Even legit services will turn out to be a scam anytime.

   -MZ

Yes i learned it the hard way. though i had got enough ROI , didn't lost my investment but not good profit

[pooya87]

basically in cloudmining you are "giving away" your hard earned money to someone else, most of them shady services, to pay you back little by little. and not even gain any profit!

[elephantas1]

basically in cloudmining you are "giving away" your hard earned money to someone else, most of them shady services, to pay you back little by little. and not even gain any profit!

you are not giving your money away as you earn back your roi at the end and earn a few cents. thats just unprofitable

[avw1982]

Just don't do it. I did invest in cloudmining and lost 1,5 btc.

[tins]

Just don't do it. I did invest in cloudmining and lost 1,5 btc.

I believe a gentleman admitted losing nearly three quarters of a million dollars to GAW's "cloud mining". Now, obviously, we know GAW was a scan from the outset, but at the time it was the same debate. Should one invest in cloud mining?

[LuckyBtc]

Just don't do it. I did invest in cloudmining and lost 1,5 btc.

You learnt the hard way.  Cloud mining is a lucrative trap for newbies.(You're not a newbie though still fell in the trap?) Mining is not profitable either at home with your own hardware or cloud mining.

[dothebeats]

Just don't do it. I did invest in cloudmining and lost 1,5 btc.

You learnt the hard way.  Cloud mining is a lucrative trap for newbies.(You're not a newbie though still fell in the trap?) Mining is not profitable either at home with your own hardware or cloud mining.

Maybe he did invest in cloud mining when he didn't know what he's doing = newbie. Well who knows?
Mining is profitable if you have the most advanced hardware and the cheapest electricity in your house. If not, you're still lucky because you don't have to turn on the stove if you want to fry some eggs.