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joust (OP)
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February 02, 2015, 03:28:44 PM |
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With recent announcements from CEX.IO and CloudHashing.com effectively turning off their customers some people seem to think that Cloud Mining for Bitcoins is doomed. If the "big guys" can't make it work for people, can anyone else? We think so, and you can read why at http://www.megamine.com/cloudhashingdoomed.php Justin CEO www.megamine.com |
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philipma1957
Legendary
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Activity: 4158
Merit: 8033
'The right to privacy matters'
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February 02, 2015, 05:16:06 PM
Last edit: February 02, 2015, 05:27:40 PM by philipma1957 |
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your prices are too high for 1 th both the up front price and the maintenance fee.
lets say I buy 10th contract cost = 4890 up front - 5% since I use bitcoin = 4645.50 up front then $16.13 a day to maintain it 10 th earns 26.96 a day
so 26.96 - 16.13 = 10.83 a day profit since I gave you 4645.50 up front that means 428 or 429 days to break even, If coins and diff stays frozen.
You like spondoolies new cloud deal are far too expensive.
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newIndia
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Activity: 2226
Merit: 1049
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February 02, 2015, 05:22:49 PM |
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With recent announcements from CEX.IO and CloudHashing.com effectively turning off their customers some people seem to think that Cloud Mining for Bitcoins is doomed. If the "big guys" can't make it work for people, can anyone else? We think so, and you can read why at http://www.megamine.com/cloudhashingdoomed.php Justin CEO www.megamine.com500 Ghs minimum purchase !!!  Moreover, 0.455 USD/Ghs is equivalent to 0.002 BTC/Ghs at current market rate. Probably the highest rate in the industry. |
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philipma1957
Legendary
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Activity: 4158
Merit: 8033
'The right to privacy matters'
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February 02, 2015, 05:29:29 PM |
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With recent announcements from CEX.IO and CloudHashing.com effectively turning off their customers some people seem to think that Cloud Mining for Bitcoins is doomed. If the "big guys" can't make it work for people, can anyone else? We think so, and you can read why at http://www.megamine.com/cloudhashingdoomed.php Justin CEO www.megamine.com500 Ghs minimum purchase !!! Moreover, 0.455 USD/Ghs is equivalent to 0.002 BTC/Ghs at current market rate. Probably the highest rate in the industry. the offer has a break even point in more then 400 days. with frozen diff and frozen btc pric. cloud sellers are crazy over priced at the moment. |
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newIndia
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Activity: 2226
Merit: 1049
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February 02, 2015, 05:34:25 PM |
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With recent announcements from CEX.IO and CloudHashing.com effectively turning off their customers some people seem to think that Cloud Mining for Bitcoins is doomed. If the "big guys" can't make it work for people, can anyone else? We think so, and you can read why at http://www.megamine.com/cloudhashingdoomed.php Justin CEO www.megamine.com500 Ghs minimum purchase !!! Moreover, 0.455 USD/Ghs is equivalent to 0.002 BTC/Ghs at current market rate. Probably the highest rate in the industry. the offer has a break even point in more then 400 days. with frozen diff and frozen btc pric. cloud sellers are crazy over priced at the moment. Its not clear how long the contract is valid either. Moreover, they have maintenance fee over this 0.002 BTC/Ghs price. Plus difficulty is going to jump again... |
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atlantic miner
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Activity: 99
Merit: 10
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February 03, 2015, 12:51:06 AM |
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Cloud Mining are for ponzis that can't get verified.
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Blazed
Casascius Addict
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Activity: 2128
Merit: 1119
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February 03, 2015, 01:06:11 AM |
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Cloud mining will always find new suckers to invest. I do not think they are all liars, but they all are certainly bad investments.
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owlcatz
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Activity: 3668
Merit: 1968
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February 03, 2015, 02:24:14 AM |
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Cloud mining will always find new suckers to invest. I do not think they are all liars, but they all are certainly bad investments.
don't invest in any cloudmining. hodl BTC ... /end PSA  |
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peligro
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February 03, 2015, 10:10:55 AM |
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There is no point to cloud mining. Either it is a ponzi in which case it can fold anytime, or it is legitimate which results in a loss.
Best option is to get a miner if there is cheap electricity and mine on its own.
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LuckyBtc
Legendary
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Activity: 1288
Merit: 1012
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February 03, 2015, 10:38:49 AM |
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Cloud mining is/was not profitable, So yes it's doomed. You'll never make profit by mining on cloud or in your home.  |
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joust (OP)
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February 03, 2015, 01:02:16 PM |
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Its not clear how long the contract is valid either.
http://www.megamine.com/our_products.phpUnder the Hosted Contracts description "As long as the contract can cover the hosting fees it can continue running for up to three years" http://store.megamine.com/collections/hosted-contractsIn bold "Please note that these contracts run for a maximum of three years but will stop earning and will be terminated when the hosting fee is greater than the amount of bitcoins earned because the equipment providing the service is turned off." Hope that's clear for you. Justin www.megamine.com |
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Omikifuse
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Activity: 1792
Merit: 1009
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February 03, 2015, 01:08:44 PM |
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at such prices I doubt a cloud mining service would be profitable
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marcotheminer
Legendary
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Activity: 2072
Merit: 1049
┴puoʎǝq ʞool┴
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February 03, 2015, 01:12:27 PM |
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Check out the mining calculator over at BIT-X, it is still profitable!
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dr1980m
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February 03, 2015, 03:13:00 PM |
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i like try new cloud mining system with small profit
but your minimum invest 500 GH/s
it's too high for try..
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mayax
Legendary
Offline
Activity: 1456
Merit: 1004
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February 03, 2015, 10:33:43 PM |
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i like try new cloud mining system with small profit
but your minimum invest 500 GH/s
it's too high for try..
I don't think that you will earn something while the BTC price is around 230 USD |
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mayax
Legendary
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Activity: 1456
Merit: 1004
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February 04, 2015, 03:14:54 AM |
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There is no point to cloud mining. Either it is a ponzi in which case it can fold anytime, or it is legitimate which results in a loss.
Best option is to get a miner if there is cheap electricity and mine on its own.
Not true. With stable or rising coin prices cloud mining can be profitable to both the seller and the buyer. Many cloud mining companies used to operate without problems last year, but how would you possibly sustain a business if the material you're producing lost 50% of its value in 2 months and continued to drop. You can do the calcullations for any market product like gold or coal, not only crypto. No real world mine would continue to operate in such circumstances. this is the point. the mining is not profitable anymore so it is doomed. what's next? collapse.  |
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Dilemma
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February 04, 2015, 08:51:42 AM |
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There is no point to cloud mining. Either it is a ponzi in which case it can fold anytime, or it is legitimate which results in a loss.
Best option is to get a miner if there is cheap electricity and mine on its own.
Not true. With stable or rising coin prices cloud mining can be profitable to both the seller and the buyer. Many cloud mining companies used to operate without problems last year, but how would you possibly sustain a business if the material you're producing lost 50% of its value in 2 months and continued to drop. You can do the calcullations for any market product like gold or coal, not only crypto. No real world mine would continue to operate in such circumstances. this is the point. the mining is not profitable anymore so it is doomed. what's next? collapse. if bitcoin prize will goes upper then 300 dollar, cloud mining will be profitable but nowaday it's not.. |
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marcotheminer
Legendary
Offline
Activity: 2072
Merit: 1049
┴puoʎǝq ʞool┴
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February 04, 2015, 11:09:25 AM |
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There is no point to cloud mining. Either it is a ponzi in which case it can fold anytime, or it is legitimate which results in a loss.
Best option is to get a miner if there is cheap electricity and mine on its own.
Not true. With stable or rising coin prices cloud mining can be profitable to both the seller and the buyer. Many cloud mining companies used to operate without problems last year, but how would you possibly sustain a business if the material you're producing lost 50% of its value in 2 months and continued to drop. You can do the calcullations for any market product like gold or coal, not only crypto. No real world mine would continue to operate in such circumstances. this is the point. the mining is not profitable anymore so it is doomed. what's next? collapse. if bitcoin prize will goes upper then 300 dollar, cloud mining will be profitable but nowaday it's not.. It still is since it is denominated in BTC not USD. Check out BIT-X.com for more details. |
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