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Author Topic: Cloud mining does not make any financial sense?  (Read 1827 times)
Tyrantt
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March 31, 2018, 03:56:24 PM
 #41

Well that's the basic logic behind the bitcoin cloud mining today. If people are just to think a little about how much of an investment you need for btc mining and the difficulty of mining, they'd ask themselves why aren't those people mining for themselves but are offering power. Makes no sense.

Bitcoin cloud mining, no. Alt-coin focused, maybe.
Most people think that cloud mining is a way to make money easily. And that's all not true because cloud mining can not make sure we get a profit. We are required to deposit capital to buy some virtual hardware and the results will be sent to the account we have. But that is a very long time and the problem is usually the owner of cloud mining is blurred when it has not completed the contract cloud. This is the problem and the concern of many people is that they will fail. So before we decide to try this investment, then I suggest to search for various information on the internet. Personally I would say that cloud mining is not the right choice in investing !!

Just asking here about the certain servise is good enough, even tho the concept of btc cloud mining is not viable since 2013/2014. The only service I've made ROI with was cex.io and even they've stopped selling gh/s due to it not being profitable. Don't know why people even bother anymore.

Also, the best way to tell it the cloud klmining service is legit, is to see if they're bitcoin (sha-256) focused or not butcoin focused. Grin
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Mister1k
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March 31, 2018, 07:58:16 PM
 #42

I see how mining bitcoins is promoted everywhere and understand that this business is really profitable, besides there are special promocodes that allow you to spend more power on mining and get more cryptocurrency! Everything is explained here  http://promocodius.com/us/shops/ccg-mining
No need for you to re-bumped this thread just to tell us about those promocodes on such cloud mining contract. Talking about on the topic cloud mining is never been profitable this is why its really a dumbed decision for you to make investment if you do saw or picture out on the possible earning or negatives you would able to get.Instead on making money you would eventually lose.Didnt have awareness about that 24 hour contract though.

All the cloud mining websites are fake in the market whether you get the promo code or anything we should not invest on these kind of scheme at all. There are wide range of people getting scammed because of cloud mining everyday.
And then finally they have opened a thread to ask whether it is legit or not.

If you want to invest on the any cloud platform please check about the project in the below website.
http://badbitcoin.org/thebadlist/

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christian07
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March 31, 2018, 10:31:40 PM
 #43

actually for me i can earn in mining site i forgot what is the best cloud mining for me i think the ethereum.org that back my dollars when they not run anymore but i earn in them this past february to june 2017,i think check their registration if they have license so if you experience scam from them you can report them easily and post here with proof that you got scam,I believe that they got scam in cloud mining here but there's always a way to avoid any kinds of scam or hack here

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June 11, 2018, 11:51:42 AM
 #44

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mkmdoc
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June 12, 2018, 02:52:45 AM
 #45

Yes, most of the cloud mining are based on the daily interest and weekly interest. As long as they are getting investment from people we are in safe hands and once the interest is stopped we have to face many challenges and there is no guarantee whether we are receiving our investment back. So we have to be very careful when dealing with this cloud mining websites.

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June 12, 2018, 07:27:12 AM
 #46

In the last two days, Hashflare's maintenance fee was larger than the payout, so they have reached a critical point in their business.
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June 12, 2018, 11:07:46 AM
 #47

As long as they are getting investment from people we are in safe hands and once the interest is stopped we have to face many challenges and there is no guarantee whether we are receiving our investment back. So we have to be very careful when dealing with this cloud mining websites.
You perfectly describe the structure of a scheme, which means that people shouldn't be very careful, but completely avoid it. It makes no sense to use something from which you know that it is a scheme, and that it will likely stop paying out at some point in the future. People won't face challenges and losses if they don't mess around with this garbage, how difficult is that to understand?

In the last two days, Hashflare's maintenance fee was larger than the payout, so they have reached a critical point in their business.
And what is that critical point? They will just make you lose out and they are all fine.

People know that cloud mining sites will stop paying at some point, and yet they complain afterwards when everything happens they beforehand know it would happen. Roll Eyes

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June 12, 2018, 11:19:44 AM
 #48

Yes, most of the cloud mining are based on the daily interest and weekly interest. As long as they are getting investment from people we are in safe hands and once the interest is stopped we have to face many challenges and there is no guarantee whether we are receiving our investment back. So we have to be very careful when dealing with this cloud mining websites.

It doesnt matter even if they are based on a weekly or daily interest , most of them are still scam that is why i would not recomend anyone to try these so called cloud mining sites . Instead youd better go on to something thats real profitable like investing or trading. But if you really wanted to do mining as a long term hobby then much better if you can just buy a real mining hardware in order to see the best possible results.

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June 26, 2018, 11:08:18 AM
 #49

i dont  think  it currently  make  economic  sense for  someone  to  practice  small  scale  mining. someone  can  barely break even by  doing  so.   
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June 26, 2018, 03:37:23 PM
 #50

As long as they are getting investment from people we are in safe hands and once the interest is stopped we have to face many challenges and there is no guarantee whether we are receiving our investment back. So we have to be very careful when dealing with this cloud mining websites.
You perfectly describe the structure of a scheme, which means that people shouldn't be very careful, but completely avoid it. It makes no sense to use something from which you know that it is a scheme, and that it will likely stop paying out at some point in the future. People won't face challenges and losses if they don't mess around with this garbage, how difficult is that to understand?

In the last two days, Hashflare's maintenance fee was larger than the payout, so they have reached a critical point in their business.
And what is that critical point? They will just make you lose out and they are all fine.

People know that cloud mining sites will stop paying at some point, and yet they complain afterwards when everything happens they beforehand know it would happen. Roll Eyes
Its always been part of the human nature on being a stubborn one.We do know already the risk but still we do decide to continue or risk it up.
If we can just mind up the possible things or in future that can possibly happen we would able to avoid it on the very first place if we are wise enough but of us do failed up.

Its being mentioned for a hundred times that cloud mining wont really be profitable on longer runs but still people decide to invest and now they are shocked on what happened?

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June 26, 2018, 04:42:04 PM
 #51

Hahaha that what they call false strategy, people may say they can earn something from it, if they are not careful enough and don't know how to analyze things properly then you will loss, but if you things carefully you'll leave them alone and look for better opportunity.
Koro-Sensei
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June 27, 2018, 06:47:08 AM
 #52

Hahaha that what they call false strategy, people may say they can earn something from it, if they are not careful enough and don't know how to analyze things properly then you will loss, but if you things carefully you'll leave them alone and look for better opportunity.
That's just basically it. Cloud does make sense back when Bitcoin  was still not that great but now the wage or profit that the average person can get in even a legit company is still not enough. I prefer mining with an antminer and any other mining rigs though the profit is not that great but could sustain your daily needs or maybe months.

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June 27, 2018, 08:31:39 AM
 #53

Hahaha that what they call false strategy, people may say they can earn something from it, if they are not careful enough and don't know how to analyze things properly then you will loss, but if you things carefully you'll leave them alone and look for better opportunity.
That's just basically it. Cloud does make sense back when Bitcoin  was still not that great but now the wage or profit that the average person can get in even a legit company is still not enough. I prefer mining with an antminer and any other mining rigs though the profit is not that great but could sustain your daily needs or maybe months.
You're close but not quite onto the point- cloudmining is NEVER a good option and you should never consider it to ever be a remotely good option. It's always a better option to consider alternatives like getting miners hosted when you want to consider mining outside of your own home- risks increase as you go from home mining to hosting to finally cloud mining.

Depends what your daily needs are- the situation with mining profitability is absolutely shit right now, and you need a large setup for the (potential) profit to even be worth your time IMHO. A few rigs won't sustain my personal daily needs. There is a whole lot of risk with not a whole lot of reward in mining right now, especially when the break even time of most GPUs and ASICs that aren't risky first-batch new-algo machines are below or around a year and the situation with profitability has been dropping or stagnating recently.

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myhashingmining
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September 26, 2018, 07:48:51 AM
 #54

Hahaha that what they call false strategy, people may say they can earn something from it, if they are not careful enough and don't know how to analyze things properly then you will loss, but if you things carefully you'll leave them alone and look for better opportunity.
That's just basically it. Cloud does make sense back when Bitcoin  was still not that great but now the wage or profit that the average person can get in even a legit company is still not enough. I prefer mining with an antminer and any other mining rigs though the profit is not that great but could sustain your daily needs or maybe months.
You're close but not quite onto the point- cloudmining is NEVER a good option and you should never consider it to ever be a remotely good option. It's always a better option to consider alternatives like getting miners hosted when you want to consider mining outside of your own home- risks increase as you go from home mining to hosting to finally cloud mining.

Depends what your daily needs are- the situation with mining profitability is absolutely shit right now, and you need a large setup for the (potential) profit to even be worth your time IMHO. A few rigs won't sustain my personal daily needs. There is a whole lot of risk with not a whole lot of reward in mining right now, especially when the break even time of most GPUs and ASICs that aren't risky first-batch new-algo machines are below or around a year and the situation with profitability has been dropping or stagnating recently.
If you consider cloud mining a scam, or potentially harmful financial-wise, please continue reading!

Yes, you are absolutely right, there are "only" 20 million BTCs available for mining. But what about other altcoins whose potential skyrocketing growth is yet to occur?

Presently, mining requires strenuous time and effort, but also adept technical knowledge of mining hardware deployment and maintenance. That’s where MyHashing steps in with strong motivation to provide a simple yet secure cloud mining environment.

So far we have three mining facilities which are located across Georgia. Highly experienced teams of professionals ensure safety of the installation, testing, and maintenance of the equipment, and the delivery of the best results. We use hardware and other mining equipment from Bitfury and Bitmain.
We are constantly searching for low-cost electricity and machine friendly weather conditions to build new facilities.

When our platform launches we will be offering Bitcoin and Bitcoin Cash mining contracts. Further down the line we may look into additional crypto currencies. All of our contracts will be signed for a 5 year period.
The packages on offer will be:

Gold – 100 USD – 1 TH/s

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Naturally the more hash power you purchase from us, the cheaper the price per TH/s will be.
Our maintenance fee is 0.17 USD a day which will be deducted from your mined coins on a daily basis.

Our website is currently under construction, and will be available shortly.

In the meantime, you can check other interesting specifics via:

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BITCOINTALK  -  https://bitcointalk.org/index.php?topic=5026621.msg46151121#msg46151121



stomachgrowls
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September 26, 2018, 07:29:14 PM
 #55

Hahaha that what they call false strategy, people may say they can earn something from it, if they are not careful enough and don't know how to analyze things properly then you will loss, but if you things carefully you'll leave them alone and look for better opportunity.
That's just basically it. Cloud does make sense back when Bitcoin  was still not that great but now the wage or profit that the average person can get in even a legit company is still not enough. I prefer mining with an antminer and any other mining rigs though the profit is not that great but could sustain your daily needs or maybe months.
You're close but not quite onto the point- cloudmining is NEVER a good option and you should never consider it to ever be a remotely good option. It's always a better option to consider alternatives like getting miners hosted when you want to consider mining outside of your own home- risks increase as you go from home mining to hosting to finally cloud mining.

Depends what your daily needs are- the situation with mining profitability is absolutely shit right now, and you need a large setup for the (potential) profit to even be worth your time IMHO. A few rigs won't sustain my personal daily needs. There is a whole lot of risk with not a whole lot of reward in mining right now, especially when the break even time of most GPUs and ASICs that aren't risky first-batch new-algo machines are below or around a year and the situation with profitability has been dropping or stagnating recently.
If you consider cloud mining a scam, or potentially harmful financial-wise, please continue reading!

Yes, you are absolutely right, there are "only" 20 million BTCs available for mining. But what about other altcoins whose potential skyrocketing growth is yet to occur?

Presently, mining requires strenuous time and effort, but also adept technical knowledge of mining hardware deployment and maintenance. That’s where MyHashing steps in with strong motivation to provide a simple yet secure cloud mining environment.
You've bumped an old thread and now suggesting to invest on your own cloud mining? I dont see anything new offerings with these kind of investment schemes and i dont know how can you differentiate yourselves into those cloud mining companies that do operating for years now like genesis.If they arent profitable then it would really be just the same outcome on where you would go.


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