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Author Topic: Cloud Mining Question  (Read 1207 times)
Sam the Man
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January 14, 2015, 02:09:10 AM
 #21

I'm changing all the time with what I use and what I do

I have just started on here now

http://minethatcloud.com/

Seems pretty good and the people seem to know what they are doing

It's really hard to know where to stay and go so I always just look for deals that are the most suitable, I would'nt wanna stay to long on one place but I know alot of people
do, It depends really on how much hash I want to buy.

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January 14, 2015, 08:43:46 AM
 #22

Even after the price being low, I see some sites say that it will be profitable and a positive ROI will be earned in 5-6 months.
Is that true?

I would say yes, but take that with a grain of salt. The actual earnings depend from way too many volatile factors (mining rate, difficulty, BTC price) to tell for sure how much ROI will be made. My sources and experience tells me that 70-150% ROI is possible, however IMHO the biggest problem is you just cant tell what your earnings are gonna be worth, you can only tell for certain you will have SOME Bitcoin earnings.

I would say you aren't guaranteed profit in your first 3 months, but you are guaranteed a stream of revenue in BTC which, provided major unfavorable changes in those aforementioned volatile factors don't occur, should turn you a profit. If you think BTC will be worth 50$ in a years time, dont waste your time. If you want to steadily generate bitcoin and believe that the price will stay the same or increase, then it can be profitable

Yes, and you have many risks involve because you are trusting others with your money but if you chose the correct mining company, you pay a relative low price and they charge low maintenance fees, you should ROI nicely within 3-4 months if the difficulty doesn't go up a lot more than expected.

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January 14, 2015, 10:55:24 AM
 #23

There are two types of cloud miners looking for business, those that mine and those that say they mine.
Puppet has an informative thread which attempts to analyse which category any scheme is likely to fit into.

 https://bitcointalk.org/index.php?topic=878387.0

From a quick look, I'd say that http://minethatcloud.com/ doesn't do too well on his scoring system.

With the current BTC price/difficulty circumstances, I'd say that if XBTC/Ghs price is a level at which a genuine miner would be able to sell mining contracts and stay viable, then any offers below that level should be looked at with suspicion.
The difficulty is establishing what X is, especially given that the only significant variable is cost of electricity and maintenance.

Extraordinary Claims require Extraordinary Evidence
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January 14, 2015, 11:47:01 AM
 #24

I'm changing all the time with what I use and what I do

I have just started on here now

http://minethatcloud.com/

Seems pretty good and the people seem to know what they are doing

It's really hard to know where to stay and go so I always just look for deals that are the most suitable, I would'nt wanna stay to long on one place but I know alot of people
do, It depends really on how much hash I want to buy.

Until they provide some evidence of legitimacy, they're just another ponzi, as is cloudminr.io too by the way. With Cex.IO halting mining the other day and Hashnest halting mining today, AMHash and Bit-x are the only legitimate bitcoin cloud mining services left. There are also a few hosted services like KNC Cloud which offer fixed length contracts for say 6 months or a year.

As for why companies would offer cloud mining instead of just self mininig, they make a guaranteed profit up front instead of having that profit spread out over a period of time. For manufacturers services like AMHash, Bit-x and Hashnest, it's not really any different than selling miners.
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