▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁

[crazyivan]

I think hashnest is most reliable because it is not only backed by major manufacturer - it is owned by major manufacturer and they can't just scam on cloudmining and continue operations like nothing happened. If I am to invest I will invest definitely there.

The only issue I see with hashnest is the fact they pay per block. Genesis Mining, for example pays a more-less fixed amount per day. It probably comes down to the same amount but it is a bit discouraging when Antpool hits bad luck for 5 days in a row and your payments get cut in half. I m not sure how does Bit-X pays.

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[marcotheminer]

is there a reliable cloud mining service mining altcoins and instantly converting them to btc?

No man, nothing out there is reliable.
And especially not at these cryptocurrency prices at the moment.

I do not think there is a single one operational. Does Zeus still offer their overpriced service? Genesis Mining has shut down their scrypt operation.

https://bit-x.com is legitimate.

Bit-x may be legitimate but as an exchange might play by using a fractional reserve based mechanism.
Are you in charge of bit-x?

I am not in charge of Bit-X.

The sum of cold and hot wallets total to at least all users' funds. I'll have your doubts cleared as soon as possible, stay tuned for an official response.

[TigerMart]

is there a reliable cloud mining service mining altcoins and instantly converting them to btc?

No man, nothing out there is reliable.
And especially not at these cryptocurrency prices at the moment.

I do not think there is a single one operational. Does Zeus still offer their overpriced service? Genesis Mining has shut down their scrypt operation.

https://bit-x.com is legitimate.

What is the mining address of https://bit-x.com ?

[siera]

What abt. https://www.bitcoincloudservices.com/

Anybody mine here?

[Syke]

What abt. https://www.bitcoincloudservices.com/

Anybody mine here?

Nobody mines there.

[siera]

What abt. https://www.bitcoincloudservices.com/

Anybody mine here?

Nobody mines there.

Why not?

[waterpile]

What about miningsweden.se? I've seen some users here mentioning this website, I have checked it and the website is poorly designed like it  reminds me of how PBmining was also a poor design..

[crazyivan]

What about miningsweden.se? I've seen some users here mentioning this website, I have checked it and the website is poorly designed like it  reminds me of how PBmining was also a poor design..

I think they actually mine but their profitability s terrible. ROI s one of the longest in the industry. Once more, Hashnest and Bit-x. Nothing else.

[flyingplows]

What about miningsweden.se? I've seen some users here mentioning this website, I have checked it and the website is poorly designed like it  reminds me of how PBmining was also a poor design..

I think they actually mine but their profitability s terrible. ROI s one of the longest in the industry. Once more, Hashnest and Bit-x. Nothing else.

And this miningsweden is quite a new player so be cautious... If you want something else than Hashnest and Bit-x (which are of course the best at the moment), you can try genesis-mining. The roi is also very long if at all there, but you got some fun options to mine (get paid by) other coins than bitcoin and they promise to provide x11 couldmining in future.

[marcotheminer]

is there a reliable cloud mining service mining altcoins and instantly converting them to btc?

No man, nothing out there is reliable.
And especially not at these cryptocurrency prices at the moment.

I do not think there is a single one operational. Does Zeus still offer their overpriced service? Genesis Mining has shut down their scrypt operation.

https://bit-x.com is legitimate.

What is the mining address of https://bit-x.com ?

I'll get back to you shortly .

[Syke]

Why not?

They don't have any hardware. All their "contracts" are ponzis.

[crazyivan]

Why not?

They don't have any hardware. All their "contracts" are ponzis.

Yup, that photo of their farm on their page s not real photo. Somebody s good with photoshop.

[Bitkrieg]

Since you guys seem to have a lot of faith in bit-x can someone summarize how it works? The only functionality I see on the site is for trading. How do you mine there?

[marcotheminer]

Since you guys seem to have a lot of faith in bit-x can someone summarize how it works? The only functionality I see on the site is for trading. How do you mine there?

Check out the 'Mining' heading here: https://bit-x.com/pages/about

Any other questions please ask!

[cryptojumper]

Any update about scrypt.cc? It still says it is only a preliminary assessment here for it being a ponzi.
There's a lot of buzz about this one lately... A lot of people talking about here, on hashtalk.org and other forums, even taking loans to invest in them, but the roi seems too good there, especially when altcoin mining is not very profitable these days to my understanding.
Wouldn't trust them more than 10$, but it's still interesting to hear what's all about

[crazyivan]

Any update about scrypt.cc? It still says it is only a preliminary assessment here for it being a ponzi.
There's a lot of buzz about this one lately... A lot of people talking about here, on hashtalk.org and other forums, even taking loans to invest in them, but the roi seems too good there, especially when altcoin mining is not very profitable these days to my understanding.
Wouldn't trust them more than 10$, but it's still interesting to hear what's all about

Show me a miner which can generate 60 days ROI. You do not need to dig deeper then that to formulate your opinion.

[cryptojumper]

But they claim to mine altcoins and look how they try to explain this https://bitcointalk.org/index.php?topic=444495.msg11039391#msg11039391

Scrypt.cc isn't offering the good ROI, that has happened through the free market pushing down the price of KHS until the ROI is so good.   Largely this was out the control of scrypt.cc.   

[BombaUcigasa]

But they claim to mine altcoins and look how they try to explain this https://bitcointalk.org/index.php?topic=444495.msg11039391#msg11039391

Scrypt.cc isn't offering the good ROI, that has happened through the free market pushing down the price of KHS until the ROI is so good.   Largely this was out the control of scrypt.cc.  

I claim that altcoin mining is not terribly profitable above litecoin mining: https://www.nicehash.com/index.jsp?p=stats

NiceHash mining profit above ideal 100% luck Litecoin mining:   6.0587 %

If they have a magic formula to mine coins, why bother buying hardware, just rent from all rental sites, price should go up.

If they have a magic trading formula to cash out coins, why bother mining, just only trade the coins, mining should stop.

[TigerMart]

is there a reliable cloud mining service mining altcoins and instantly converting them to btc?

No man, nothing out there is reliable.
And especially not at these cryptocurrency prices at the moment.

I do not think there is a single one operational. Does Zeus still offer their overpriced service? Genesis Mining has shut down their scrypt operation.

https://bit-x.com is legitimate.

What is the mining address of https://bit-x.com ?

I'll get back to you shortly .

Still waiting

[marcotheminer]

is there a reliable cloud mining service mining altcoins and instantly converting them to btc?

No man, nothing out there is reliable.
And especially not at these cryptocurrency prices at the moment.

I do not think there is a single one operational. Does Zeus still offer their overpriced service? Genesis Mining has shut down their scrypt operation.

https://bit-x.com is legitimate.

What is the mining address of https://bit-x.com ?

I'll get back to you shortly .

Still waiting

It'll be public soon I was told. I'll see if I can provide any more information soon .

It would be the mining address of the BitFury provided and hosted ASICs.