CEX.IO Suspends Cloud Mining.............

[jsmit332]

I've heard that it might possibly go up as the difficulty might go down. Don't know if this is true but i have heard this.

[drcore]

they only suspended since the btc value is dropped a lot, and itd be negative if they operate on the scale they have.

electricity costs, basic facility cost, etc.

[SimplisticStu]

Are folks buying up the gh/s at low price of approx BTC0.0006 in cex in anticipation for them resuming mining again?

[arvindr]

I am just curious, as to how come some cloudmining companies shut down and some are still operating, even when it is not profitable ?

[SimplisticStu]

I am just curious, as to how come some cloudmining companies shut down and some are still operating, even when it is not profitable ?

Be cautious, the ones opening could be ponzi's/scams however you want to brand it, especially if the gh/s is very low

[captainwire]

I am just curious, as to how come some cloudmining companies shut down and some are still operating, even when it is not profitable ?

Be cautious, the ones opening could be ponzi's/scams however you want to brand it, especially if the gh/s is very low
[/quote]

yeah, we saw a great deal of them lately, like the whole pbmining ponzi crap.. and everything similar to it. stating you`ll have 8 year contract bs.

[ironlambda]

now imagine every major cloud mining site did this, i think the price would go up since it would be more scarce on not wanting to find more btc.

[fireneo]

I've heard that it might possibly go up as the difficulty might go down. Don't know if this is true but i have heard this.

if it does go down, i dont think it would make that much of a difference this is just my view though.

[RedhatCAT]

I am just curious, as to how come some cloudmining companies shut down and some are still operating, even when it is not profitable ?

Be cautious, the ones opening could be ponzi's/scams however you want to brand it, especially if the gh/s is very low

well to be fair, some of the legit cloud mining companies have charged more for "maintance" then they are really paying out for things like electricity so they can somewhat afford to at least temporarily charge less then the actual cost of electricity in order to keep their miners running

[jsmit332]

Do you ever think that cloud mining will become profitable again?

[marcotheminer]

Do you ever think that cloud mining will become profitable again?

It still is, just over a longer period of time.

[Dilemma]

Do you ever think that cloud mining will become profitable again?

if bitcoin prizes goes upper than 300 dolar
otherway , it cant be profitable
just wait, and pray for bitcoin prizes

[ScryptAsic]

Do you ever think that cloud mining will become profitable again?

It still is, just over a longer period of time.

This is not true. As it stands now it is not profitable having your GHs running at CEX. They will become even less profitable as time goes on as the difficulty tends to increase (although the adjustment in ~3 days will likely be an exception to this). You need to remember that when you are cloud mining verses "home" mining you are adding an additional layer of people who need to profit which will make it generally less profitable then if you purchased your hardware yourself 

[Mabsark]

Do you ever think that cloud mining will become profitable again?

It still is, just over a longer period of time.

This is not true. As it stands now it is not profitable having your GHs running at CEX. They will become even less profitable as time goes on as the difficulty tends to increase (although the adjustment in ~3 days will likely be an exception to this). You need to remember that when you are cloud mining verses "home" mining you are adding an additional layer of people who need to profit which will make it generally less profitable then if you purchased your hardware yourself 

He never said CEX.IO. He said cloud mining. All the manufacturers offer their their own services now so it means being able to mine without having to pay for shipping, PSUs and ridiculously expensive electricity.

[ScryptAsic]

Do you ever think that cloud mining will become profitable again?

It still is, just over a longer period of time.

This is not true. As it stands now it is not profitable having your GHs running at CEX. They will become even less profitable as time goes on as the difficulty tends to increase (although the adjustment in ~3 days will likely be an exception to this). You need to remember that when you are cloud mining verses "home" mining you are adding an additional layer of people who need to profit which will make it generally less profitable then if you purchased your hardware yourself 

He never said CEX.IO. He said cloud mining. All the manufacturers offer their their own services now so it means being able to mine without having to pay for shipping, PSUs and ridiculously expensive electricity.

That is just one example. A PSU is just a capital expense and can be sold when you no longer need it for nearly the entire cost. You still must (indirectly) pay for shipping as the manufacturer still needs to ship the miners from where they produce them to wherever they will be hosted. Electric costs vary from place to place so your argument that you pay higher electric costs by running them at your home is invalid.

This topic is about cex therefore it should be assumed that he was talking about it. Even if he was not then the overall point of my post is still valid. Mining rewards (net of maintenance) will generally decrease over time as the difficulty increases (although this time around the difficulty will decrease, although not enough to counter the fact that the price of bitcoin has fallen so the net mining reward will still be lower)

[jaxxx]

hashnest will still be around only because they produce asics as far I know, aka bitmain.

[Mabsark]

That is just one example. A PSU is just a capital expense and can be sold when you no longer need it for nearly the entire cost. You still must (indirectly) pay for shipping as the manufacturer still needs to ship the miners from where they produce them to wherever they will be hosted. Electric costs vary from place to place so your argument that you pay higher electric costs by running them at your home is invalid.

You can't count on reselling heavy used PSUs for almost full price at all. It's also far easier and cheaper to ship all the miners to one central location than to ship them to individual customers around the world. As for electricity costs, most people do not have electricity costs that are less than 0.1 USD/kWh.

This topic is about cex therefore it should be assumed that he was talking about it. Even if he was not then the overall point of my post is still valid. Mining rewards (net of maintenance) will generally decrease over time as the difficulty increases (although this time around the difficulty will decrease, although not enough to counter the fact that the price of bitcoin has fallen so the net mining reward will still be lower)

It was quite obvious the poster was not talking about CEX but cloud mining in general. Also, that wasn't you point at all. Your point was that cloud mining is unprofitable compared to home mining. That's pretty silly as the maths will show that cloud mining is more profitable for most people.

[odolvlobo]

That's pretty silly as the maths will show that cloud mining is more profitable for most people.

I would like to see those maths. From what I have seen, the investor, for the most part, has had a choice of either unprofitable or ponzi scheme.

[Mabsark]

That's pretty silly as the maths will show that cloud mining is more profitable for most people.

I would like to see those maths. From what I have seen, the investor, for the most part, has had a choice of either unprofitable or ponzi scheme.

I posted this the other day:

If you can get legitimate cloud mining contracts for cheaper than the cost of a physical miner, then you'd also make a profit from cloud mining too.

You could currently buy 1700 Gh/s of AMHash off Havelock for less than 0.00097499 BTC/Gh, so less than 1.657483 BTC for 1700 Gh.
AMHash charges 0.001551 USD/Gh/day for maintenance. For 1700 Gh, that's 2.6367 USD.

An SP20 is currently selling for 479 USD. At 235 USD/BTC, that's 2.03829787 BTC. You also need to pay for shipping and a PSU.
The SP20 does 1700 Gh/s (customers say about 1500-1600) and consumes 1200 W.
That gives 0.00119900 BTC/Gh and 28.8 kWh used daily.
With an electricity cost of 0.1 USD/kWh, that gives a daily running cost of 2.88 USD.

The SP20 can also be underclocked to 1176 Gh/s using 639W.
That gives 0.00173325 BTC/Gh and 1.54 USD daily running cost or 0.001310 USD/Gh/day.

You are more likely to profit from legitimate cloud mining than you are from mining bitcoins at home or even if you get you miner hosted.

[odolvlobo]

That's pretty silly as the maths will show that cloud mining is more profitable for most people.

I would like to see those maths. From what I have seen, the investor, for the most part, has had a choice of either unprofitable or ponzi scheme.

I posted this the other day:

If you can get legitimate cloud mining contracts for cheaper than the cost of a physical miner, then you'd also make a profit from cloud mining too.

You could currently buy 1700 Gh/s of AMHash off Havelock for less than 0.00097499 BTC/Gh, so less than 1.657483 BTC for 1700 Gh.
AMHash charges 0.001551 USD/Gh/day for maintenance. For 1700 Gh, that's 2.6367 USD.

An SP20 is currently selling for 479 USD. At 235 USD/BTC, that's 2.03829787 BTC. You also need to pay for shipping and a PSU.
The SP20 does 1700 Gh/s (customers say about 1500-1600) and consumes 1200 W.
That gives 0.00119900 BTC/Gh and 28.8 kWh used daily.
With an electricity cost of 0.1 USD/kWh, that gives a daily running cost of 2.88 USD.

The SP20 can also be underclocked to 1176 Gh/s using 639W.
That gives 0.00173325 BTC/Gh and 1.54 USD daily running cost or 0.001310 USD/Gh/day.

You are more likely to profit from legitimate cloud mining than you are from mining bitcoins at home or even if you get you miner hosted.

I was unaware. I stand corrected, though I suspect it might be an anomaly.