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

[marcotheminer]

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

cex.io suspended cloud mining back in January 2015.

thanks dude.

So at this time there is none a legit/working service right now?

wanna invest in cloud mining...

Check out https://bit-x.com!

[1715064871]

1715064871

[1715064871]

1715064871

[flyingplows]

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

The question is not whether it is legit or not. IT IS OBSOLETE. Forget it. Go Hashnest or Bit-x or go home.

[crazyivan]

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

[pawel7777]

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

Not quite. They still offer cloud mining but it's suspended by default (due to no profitability). Afaik you can still unlock it and mine at loss if, for whatever reason, you wanted to.

On other subject, mintsy.co is in beta (pre-enrolled users only though), I wonder how would they score.

[Dolarcito]

Check out https://bit-x.com!

marco, thanks dude gona check it right now

The question is not whether it is legit or not. IT IS OBSOLETE. Forget it. Go Hashnest or Bit-x or go home.

Ty man, the funny thing is that i recently have bought some Ghs on cex.io, i'm going to see what about Hashonest.

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

I'm reading all those posts about trading/buying thing, when i feel confortable about understanding how get profit then gona try it. Thanks carzy.

Not quite. They still offer cloud mining but it's suspended by default (due to no profitability). Afaik you can still unlock it and mine at loss if, for whatever reason, you wanted to.

On other subject, mintsy.co is in beta (pre-enrolled users only though), I wonder how would they score.

Well let's see how minsty gona work...


All your posts are helpfuly mates, well at least to me. 

[crazyivan]

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

Not quite. They still offer cloud mining but it's suspended by default (due to no profitability). Afaik you can still unlock it and mine at loss if, for whatever reason, you wanted to.

On other subject, mintsy.co is in beta (pre-enrolled users only though), I wonder how would they score.

Minsty.co is the most expensive cloud mining I ve seen so far. There s no way anyone can ROI on that ATM.

Hashnest is a nice choice, Bit-x s a bit pricier but still a nice alternative. Another option is to switch to poof of stake coins, it s similar to mining but no cloud operations needed, no electricity costs. My favorite proof of stake coin is DMD Diamond, 50% annual interest.

[favdesu]

Minsty.co is the most expensive cloud mining I ve seen so far. There s no way anyone can ROI on that ATM.

Hashnest is a nice choice, Bit-x s a bit pricier but still a nice alternative. Another option is to switch to poof of stake coins, it s similar to mining but no cloud operations needed, no electricity costs. My favorite proof of stake coin is DMD Diamond, 50% annual interest.

Lost every respect for cryptsy (mintsy) because they got their hands in the paycoin scam scheme.

Proof of Stake - be careful, 50% annually means a potential 50%+ drop in value due to hyperinflation.

[cryptojumper]

Minsty.co is the most expensive cloud mining I ve seen so far. There s no way anyone can ROI on that ATM.

Hashnest is a nice choice, Bit-x s a bit pricier but still a nice alternative. Another option is to switch to poof of stake coins, it s similar to mining but no cloud operations needed, no electricity costs. My favorite proof of stake coin is DMD Diamond, 50% annual interest.

Lost every respect for cryptsy (mintsy) because they got their hands in the paycoin scam scheme.

Proof of Stake - be careful, 50% annually means a potential 50%+ drop in value due to hyperinflation.

If you manage to stake 24/7 you will outstake the drop in value occuring from coin inflation by a little bit. And if a coin develops however, you could earn ever more.
But yes, the 50% interest is supposed to be counted in those coins, not in investment value.

[Wintermute]

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

They lost 60-70 BTC/day in the last two days. Thus, they might try to make a new offer to boost their sales one last time. After that the Ponzi will collapse. Unfortunately, there is no hope in this case.

[HerkulesBee]

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

They lost 60-70 BTC/day in the last two days. Thus, they might try to make a new offer to boost their sales one last time. After that the Ponzi will collapse. Unfortunately, there is no hope in this case.

I made some investigations and came to the same conclusion like wintermute. look here: http://imgur.com/vloNN4K

And Wintermute is right about the last try to boost their income. They offer "ONLY THIS WEEK" 2 years contracts for the price of 1 year - look here: https://www.bitcoincloudservices.com/

[crazyivan]

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

They lost 60-70 BTC/day in the last two days. Thus, they might try to make a new offer to boost their sales one last time. After that the Ponzi will collapse. Unfortunately, there is no hope in this case.

I made some investigations and came to the same conclusion like wintermute. look here: http://imgur.com/vloNN4K

And Wintermute is right about the last try to boost their income. They offer "ONLY THIS WEEK" 2 years contracts for the price of 1 year - look here: https://www.bitcoincloudservices.com/

Let us see how good are you two in doom forecasting. According to you, Bitcoincloudservices dies in about 2 weeks, right?

[flyingplows]

Be it two weeks or two months all ponzies like this one, and this is a bit of a blatant one, will end the same way. It's been running for quite some time now... all the more risk for that...

[BitcoinNewsMagazine]

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

cex.io suspended cloud mining back in January 2015.

thanks dude.

So at this time there is none a legit/working service right now?

wanna invest in cloud mining...

No problem. Full list at https://bitcoinnewsmagazine.com/ultimate-guide-to-bitcoin-cloud-mining/

[SpanishSoldier]

No problem. Full list at https://bitcoinnewsmagazine.com/ultimate-guide-to-bitcoin-cloud-mining/

It is an incomplete list. It does not contain cloudmining.website, which is paying consistently for over six months now and publishing blockchain payment proof - www.cloudmining.website/payments.php

[timothythomas]

is cloud mining still profitable enough for users ? i mean since diff is getting too high and all

[BitcoinNewsMagazine]

No problem. Full list at https://bitcoinnewsmagazine.com/ultimate-guide-to-bitcoin-cloud-mining/

It is an incomplete list. It does not contain cloudmining.website, which is paying consistently for over six months now and publishing blockchain payment proof - www.cloudmining.website/payments.php

If you read the very first page of this thread cloudmining.website is listed as a probable ponzi. I maintain a list of proven legit services, and also steer readers away from the ponzis.

[icanscript]

No problem. Full list at https://bitcoinnewsmagazine.com/ultimate-guide-to-bitcoin-cloud-mining/

It is an incomplete list. It does not contain cloudmining.website, which is paying consistently for over six months now and publishing blockchain payment proof - www.cloudmining.website/payments.php

If you read the very first page of this thread cloudmining.website is listed as a probable ponzi. I maintain a list of proven legit services, and also steer readers away from the ponzis.

yet you mention Cloudminr.io?

[BitcoinNewsMagazine]

No problem. Full list at https://bitcoinnewsmagazine.com/ultimate-guide-to-bitcoin-cloud-mining/

It is an incomplete list. It does not contain cloudmining.website, which is paying consistently for over six months now and publishing blockchain payment proof - www.cloudmining.website/payments.php

If you read the very first page of this thread cloudmining.website is listed as a probable ponzi. I maintain a list of proven legit services, and also steer readers away from the ponzis.

yet you mention Cloudminr.io?

Mentioning is no endorsement. From the article "We recommend you invest with caution in the riskier cloud mining services like Bitcoin Cloud Services and cloudminr.io if at all. Those providers neither provide photo evidence of a real mining operation or a public mining address. Any cloud mining investment carries some risk so do your homework before buying."

Also "If transparency and legitimacy are key you can purchase bitcoin cloud mining from Hashnest, GetHashing, ZeusHash, BW.com or Bit-X."

It's your money, invest as you please.

[alani123]

I've purchased the smallest pack from cryptsy's new cloudmining service. What's unique about it is that it lets you allocate your hashing power from contracts up to 5 pools per contract worker and you can even point hashrate at external pools.

To be honest, the hash pointed at outside pools is extremely unstable but I'm impressed just by the fact that this system works. For now, I'm only mining in mintsy's pool and waiting from a response from their support.

The hash rate displayed at the website isn't all that stable either but it's not unrealistically low either, if pointing has at external pools worked better I'd be perfectly satisfied.

[crazyivan]

I've purchased the smallest pack from cryptsy's new cloudmining service. What's unique about it is that it lets you allocate your hashing power from contracts up to 5 pools per contract worker and you can even point hashrate at external pools.

To be honest, the hash pointed at outside pools is extremely unstable but I'm impressed just by the fact that this system works. For now, I'm only mining in mintsy's pool and waiting from a response from their support.

The hash rate displayed at the website isn't all that stable either but it's not unrealistically low either, if pointing has at external pools worked better I'd be perfectly satisfied.

What about the price? Last time I checked, ROI was almost impossible. Has that changed?