Topic: Advantages of bitcoin cloud mining (Read 2060 times)

I tend to agree with this. Most likely cloud mining will end up scams because they only steal photos anywhere just to have fake mining equipment that investors will lure to them. For me, I consider Bitcoin cloud mining is a pyramid Ponzi scheme. After they will full their bag they will run away together with your investment. So this was clearly they are profitable at this moment or much better is to stay away from them. Innocent and lazy people will always fall on their trap.

There a few I can think of: no bitcoin mining equipment to sell when bitcoin mining is no longer profitable and no electricity costs 

But this "assets" value reduces everyday (depreciation) or when new hardware comes out.
Instead of cloud mining, I would rather invest funds somewhere. At least the funds have documents, owner and etc. I mean if you want, you can visit the office or meet CEO. But cloud mining - this is like investing in numbers. You cant really tell do you mine something or just numbers on your account changes.

Much better option is to have your physical hardware – profitable or not you still own the asset.
Cloud mining is very risky because there was so many cloud mining that has been collapsed before, even if the cloud mining is legit.
You can hold machines in some professional facility or at home depends of electricity cost.

Yes that's true after the halving the cloud mining is not profitable anymore I don't think there would be cloud mining that is operational on that period, you posted the good about cloud mining but you did not mention about its bad sides and the halving that is going to come, potential investors should do diligent research of all of this thing.

Is cloud mining still a thing in 2020? I hope not. Mining itself isn't that much lucrative talk more of using a cloud mining service. Let's also not forget the the block rewards will be slashed by 50% in the next 3 months. So instead of cloud mining, I'll suggest you explore other earning options available like trading, investing or better still, if you're skillful, offer a service. Offering a service one way to ensure that you get a consistent flow of income compared to Cloud mining

The disadvantages outweigh the advantages, every inc=vestors long term profit or at least get a small profit, but with cloud mining you will lose 50% of your investment because you regain all your investment, the cloud mining will close down or will stop paying it's investors, much better to totally ignore all of them.

its actually profitable but only in short period time.

Advantage : you dont need to do anythinh just to earn money you will only need to invest .

Disadvantage : high risk investment there is a chance that your money will not came back to you once you invested.

This info should be spreaded a lot more, I see these threads quite often and since threads are coming in - forum (and crypto in general) newcomers are expecting cloud mining to be profitable.

I agree to this word when it comes to risk:profit ration.Cloud mining is long time non profitable when bitcoins mining difficulty rised up.
Only for those miners who do reside on places where electricity is cheap and to those who are financially capable on buying these expensive miners.
With cloud mining services,you cant even reach up your ROI until your contract had expired which means? You already lose money.

The advantage or the risk is greater than the advantage or the profit, the risk is when cloud mining ceases to operate and there is no way investors can get their money back, we have seen this happens so many times, cloud mining is not popular today, you can attract newbies who does not do research.

Although Hashnet looks reliable I would not trust by thousands of dollars if I am going to mine I prefer doing it with me owning the hardware, so I can have full control of it, if it is not profitable anymore I can sell my hardware, I have seen so many cloud mining going up and down, and this is the reason why it's hard to promote cloud mining now.

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That's a great suggestion! They should start diversifying their cloud mining operations, and mine most profitable coins from other algos and pay us with BTC. Mining more profitable coins means greater profits for HashNest and it's investors!
^^^ @HashNest, Do this Please! ^^^
And who do I have to bribe around here to tell me how to get notified of next batch release dates, or where to look for those announcements. Is there an existing batch release thread

Hashnest always advertises their cheap electricity cost, which is included in the maintenance cost

I have explained a few posts back what makes HashNest and AntPool that are both Bitmain (famous for their AntMiners) companies legit: https://bitcointalksearch.org/topic/m.25641003
BTW, as far as I can tell, Bitmain has been in the ASIC business since Q1, 2013: https://bitcointalksearch.org/topic/announcement-bitmain-launches-antminer-solution-068-jgh-on-chip-330665,
and HashNest in the cloud mining business since September 1st, 2014: https://bitcointalksearch.org/topic/ann-bitmain-announces-cloud-hash-platform-hashnestcom-765128

Regarding profitability, right now HashNest, until they release and sell another cloud mining S9+ or T9 batch, they are only profitable if you are good with hashrate-buy-low-sell-high-trading, because the current price/hash of the S9 (due to high demand) is almost 8x the price/hash of the S9 when it was sold in the hashnest shop. (hashnest shop sells you a full miner with all its hashes. u can then trade some or all in the hashmarket). So, you cannot make ROI with the current price/hash.

The only way to make passive cloud mining ROI (with HashNest), is to wait for their next cloud mining batch release, or their next PACMiC contracts. I hope this clears things up.

what cost are you talking about? you wont get any electricity cost on cloud mining because it mainly works online. cloud mining or hardware mining are not really profitable nowadays because of the increased difficulty lately due to the fact that there were so many miners that are operating thesedays.



yeah, were on the same boat and i also think that these cloud mining sites dont have any advantages to offer to you because the real truth behind them is they are actually all scam or ponzi scheme. @op i just want to say goodluck to your project and i hope you will get some good clients to test your platform.

Are you saying that you have a hashnest account, had BTC in your hashnest wallet, and never got an equivalent amount of BCH after the fork? In that case, you should submit a support reauest

I had 2.04 BTC before the fork and after the fork I found a new BCH wallet with the same amount:

Advantage is for emperor Wu, you are buying cloud mining contracts to help Antpool to stay in the top 3 worldwide mining pools, then he thinks that we owe him something, then after having enough money, he feels like it is the time to double my Bitcoins, for a few months he tries to convince people that what he is saying is for the best, shills posting tirelessly, when he couldn't fool every body, he forked Bitcoin cash and didn't share them with us beggars, I'm willing to be his shill around here if he gives me 10 BCH I can finally buy my dream house (if I'm going to shill for him, don't you think that I need at least a place of my own? I also need to have a place if I've ever want to bring a prostitute to perform a jumping for the first time in my life, also I've heard if your shills jump a girl, they could be strong and have a better chance of success in shilling for you). a simple lol would suffice.

Are you asking about Hashnest? If so I can speak for them from my experience:

I am 99.9% sure they're mining. It makes perfect sense for one of the major ASIC miner manufacturers (Bitmain Antmienrs) and pools (Antpool) to mine. If someone wants to help me become 99.99% sure or 50% sure, I could provide you info from my payment history and see if we can find proof of mining. (I have no idea how to prove mining or what it looks like).
But, if you were able to manufacture the best and most efficient miners, would you also use it for mining, in addition, to sell it to others?

A lot of people think all cloud mining is a scam, and ask: If you make your own mining equipment, why not use it to mine yourself rather than sell to others?
ANSWER: Like most businesses that need to grow fast, they have to raise capital. One of those ways are issuing shares to their company. In this case, Bitmain, in order to grow fast and make put their Antpool in the top 3 of global hashrate, instead of issuing company shares, they started selling their miners for cloud mining on their Hashnest website for a higher price than they do on their Bitmain website. These extra profits from the demand for Cloud Mining (from customers with high electric cost), allows them to double their profits compared to selling and shipping the miners, allowing them to raise the capital that they needed to R&D and grow their mining operations faster and catch up with top players and stay in top.

Sadly, since they reached the top 3, they don't sell ASIC miners on Hashnest as often as they used to, which also makes sense... If you think about it, if you are already a top dog in mining and its technology, you don't need to accelerate growth anymore and just enjoy 20% of the global hashrate...

They used to list cloud ASIC batches like 3-5 times a year when I invested in them (back when they used to produce the S1, S3, S4...). Recently they have been barely selling any cloud miners and when they do, they get bought off in a few minutes, causing me to miss out on the newer miners... I believe they haven't put up for sale any miners since November 2016...

Of course, there's the hashrate market, where people trade individual hashes (shares of previously bought miners on the Hashnest shop) of various miners (currently S9, S7 and L3 hashes) using buy and sell orders just like exchange and stock markets. Those hashes do generate bitcoin revenues, but you rarely get ROI. In the market you could make ROI by trading (buy low, sell high). Also if you have enough hasesh of a miner (example 12500 GH/s of an S9) when the miner is not profitable anymore, you get the option of having it shipped to you for a fee rather than it disappearing completely like in ponzi/scam cloud miners.

If anyone knows how to find out where they announce (if they do anymore) new ASIC release dates, or how to sign up for some kind of notification, plzzzzzzzzz tell me! Thanks

They're allowing you to make money only when they're making even more money on the rising value of Bitcoin and other coins that they're mining! In case of a bear market they won't let you profit. Instead they will use your money to keep themselves from going bankrupt, meaning that they'll still get a profit by scamming you. It's kill or be killed in this business.