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

[galdur]

i am interested in mining as newbie and this thread is easy to understand.
mining at this point is not wise? or is it better to wait for later moment when price is higher.

What's so hard about buying bitcoin? The fact you don't have to beg someone for it back?

What is really, really, really hard about it is watching it constantly tanking and in the crapper. When will the hurt end?

[ATCkit]

anyone know what kind of miners Bit-X uses? Where are they located? And is the ROI better than hashnest?

Bitfury is peoviding them. They have already gave 1 PH. See https://bitcointalk.org/index.php?topic=896350.0. ROI looks almost same.

I think i read somewhere that BitFury has their DC in Georgia.
From what I can see, Bit-x is more expensive per GHS and their maintenance fee is slightly higher than HashNest's.

There's interesting times ahead because whichever companies come up with the sub .01 w/ghs chip will likely be able to set lower prices and maintenance fees thus gaining a larger portion of the cloud mining market. From what I've read, Bitfury is fairly well placed in that "arms race".

So, with BitFury supplying hashing power, Bit-X looks like it will be a contender for some time into the future. Who knows for sure? Look at what happened with AMHash and I'm sure many thought they would be a long time contender. One thing we do know is that BitFury has been around for as long or longer than its competitors.

[cryptojumper]

But Bitmain ships the same miners for their customers so it's a sure thing. BitFury might be good too, but Bit-x is a separate company and these miners only exists somewhere there at their farm not shipping to customers... I'll stick with hashnest as number one in cloudmining for now. I think the scores in this thread are accurate on those big players given the current situation.

[BitcoinNewsMagazine]

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.

ZeusHash just partnered with HalleyChina and are offering SHA-256 hosted mining for $0.299/GH/s. Actually a better price per GH/s than Hashnest S5 but daily maintenance is higher.

[BitcoinNewsMagazine]

And what about nexusmining.com

The price appears acceptable, there are no indications of the fees on their site. You don't know how much they'll charge you after you sign up and they intentionally try to evade this aspect.

They also claim to be Bitcoin Foundation Silver members, they are not any kind of members, and there is no Silver membership at the moment.

Help centre / Learning center

RISK FREE - they even guarantee it!

Registrant Name: Brett Langish
Registrant Organization: Nexus Mining
Registrant Street: 145 Traders Blvd E
Registrant City: Mississauga
Registrant State/Province: Ontario
Registrant Postal Code: L4Z3L3
Registrant Country: Canada
Registrant Phone: +1.8008408954
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email: nexusmining@gmail.com

etc...

scryptsy.com?

1 BTC / 1 TH, no fees?

You can't even install a shitty 1 TH miner with 250$, yet these guys do it for you, and you don't pay anything after that?!

Affiliate Programme and start earning 1%-10% random commission!

They are called "scryptsy" as in "scrypt" the altcoin algorithm, and they sell bitcoin hashing only...

https://who.godaddy.com/whoisstd.aspx?domain=scryptsy.com >> Registrant Name: Registration Private

I am trying to choose something right now, but a bit scared actually.

You should be, you and everyone else keeps googling for scams to get burned on. Simply browsing this forum for the companies will reveal their capacity of providing their promised services.

At the moment only the S5 market purchased shares on HashNest are the most profitable and certain options.

https://bitcointalk.org/index.php?topic=888378.0
https://bitcointalk.org/index.php?topic=700463.0

Don't leave out PACMiC v1 contracts at Hashnest.

[crazyivan]

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.

ZeusHash just partnered with HalleyChina and are offering SHA-256 hosted mining for $0.299/GH/s. Actually a better price per GH/s than Hashnest S5 but daily maintenance is higher.

It all comes down to maintenance cause you get that charged every day. Besides, Zeus made a big time issue with their scrypt contracts and I personally choose not to trust them anymore.

[CodeR70]

Genesis Mining has shut down their scrypt operation.

Because they were out of hashes, not because of the running costs.

[acquafredda]

UPDATE ON cointellect

Finally the site is offline.
I think it has been a very bad scam.
Some of their wallets were full of BTC.
Their aim has been fulfilled.

Thanks to this thread I saved some money.

To anyone wishing to join any cloudmining service please double and triple check!

[amolina]

Someone knows https://www.miningsweden.se/ ?

https://bitcointalk.org/index.php?topic=1036190.0

 

Saludos / regards.

[crazyivan]

Someone knows https://www.miningsweden.se/ ?

https://bitcointalk.org/index.php?topic=1036190.0

 

Saludos / regards.

They do mine and in that sense are legit. However, their prices ll make you wait for your ROI long, long time, if ever.

[amolina]

Someone knows https://www.miningsweden.se/ ?

https://bitcointalk.org/index.php?topic=1036190.0

 

Saludos / regards.

They do mine and in that sense are legit. However, their prices ll make you wait for your ROI long, long time, if ever.

Thank you very much for answering.

Saludos / regards. 

[crazyivan]

Someone knows https://www.miningsweden.se/ ?

https://bitcointalk.org/index.php?topic=1036190.0

 

Saludos / regards.

They do mine and in that sense are legit. However, their prices ll make you wait for your ROI long, long time, if ever.

No problem, you can even find a few videos of their mini farms online. They have started just a few months ago so once they increase in size, they might potentially reduce their prices.


Thank you very much for answering.

Saludos / regards. 

[Sine(X)]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

[crazyivan]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

Very expensive. 1 TH for 4 BTC. Ugh, pricey, even with fees included.

[Muhammed Zakir]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

It is am interesting site. They are reselling miners and they provide loans.

We can sell hash power in their market and it is good. However, referral bonus is 1% of their income per hour which doesn't look good.

They might be Ponzi.

[flyingplows]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

It is am interesting site. They are reselling miners and they provide loans.

We can sell hash power in their market and it is good. However, referral bonus is 1% of their income per hour which doesn't look good.

They might be Ponzi.

What if they do the AMHash scam thing? No more investing in these Chinese mining farms except for Hashnest for me, unless they provide solid proof and don't complicate things like AM...

[Sine(X)]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

Very expensive. 1 TH for 4 BTC. Ugh, pricey, even with fees included.

Who is cheaper? Only Hashnest

[Zeta0S]

i am interested in mining as newbie and this thread is easy to understand.
mining at this point is not wise? or is it better to wait for later moment when price is higher.

Its a great way the learn about bitcoin, receiving btc, mining. Yeh! give it a try 

[marcotheminer]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

Very expensive. 1 TH for 4 BTC. Ugh, pricey, even with fees included.

Who is cheaper? Only Hashnest

And bit-x.

[BombaUcigasa]

http://pow88.com/

0.004BTC\Ghs, maintenance 0$ - very cool offer!
Does somebody use it? Scam?

Very expensive. 1 TH for 4 BTC. Ugh, pricey, even with fees included.

Who is cheaper? Only Hashnest

And bit-x.

Hashnest: 1.18 USD/TH/day
Bit-X: 1.66 USD/TH/day

You guys have to pay more attention in school. Math is not that hard...

I still don't understand how Bit-X works, how is their mine designed exactly?