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.

Few of them are really mining bitcoins and the rest are just words of mining.

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Yes the rest are fake ones and they keep on attracting investors to invest to them so that they'll make more money easily. I don't find it as such opportunity or advantage on that part.

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It's because there's no advantage on those cloud mining that doesn't have real mining farm.

Do they really mine bitcoins? It is fake, right? But some of us including me has an experienced to invest in these kind of scheme and gladly make a profit with it and I think that's the advantage of it. But eventually they're becoming scam after a week or a  month.

Whether you will make ROI, not only depends on difficulty, but it really depends on your electric cost. If you are living in a country with expensive electricity, chances are you will make ROI faster with hashnest coud mining, because of their cheap chinese electric cost. only $0.07 per KWh currently... Whre I live right now its almost $0.023 per KWh, so mining here is a big NONO...

The best way to make a decision would be to compare your electric cost with theirs as well as Bitmain ASIC with Hashnests, to figure out your best choice for best ROI and profit. You should notice that an S9 is cheaper to buy on Bitmain and have it shipped to you, but chances are that electricity will cost you more than their maintenance fee...

1. But i will get the electricity cost and the maintenance cost. What's the different thing? But i can make
2. I don't think so.
3 Just with a gigahash and I can't pay the transaction fees. The bitcoin mining will be worthy if we can get hundreds gigahash. Every cloud mining site was offering to trade his hashrate power and i'd like to call it hashmarket.
In my opinion about the cloud mining site is not worthy again right now. I will never meet my ROI.

Yes I know hashnest cloud mining service dan be trusted, unfortunately it doesn't have innovations in the mining coins,
do you have plan to mine the coins except bitcoin are like, dashcoin, monero, ETH, and other coins be mined by gpu's cards
your service will become completes cloud mining service.

right and everyone knows hashocean is a scam.
But here is hashnest which promise real payouts.

I don't know if you tried cloud mining but users here are making profit actually.
It's reliable because we are promising you to deliver you the miners when the miners are not making profit here.
It's stable because we are promising that all of your hashrates will be used to mining and getting the shares.
Anyway, you need to watch the price on the market to decide your investment strategy.

I don't see any advantage of cloud mining as it is not profitable nowadays, you may be promoting the hashnest cloud mining service but how can you be sure that it is reliable and how sure are you that it is stable when all people knows that this type of investment just have the same intention to bitcoin users .

It is simply a way to keep your money that you dont have any use for, and you dont intend to have any use for...


This is not totally true as majority of these mining sites are scam sites while the remaining ones who have tried to remain in business, it will obviously take till eternity to even ROI no matter how much or how little the amount invested. The days of profitable cloud mining business are over, if anybody cannot afford hardware mining in my opinion, the best is to stay away from mining...

Advantage? I can't see any advantage since cloud mining aren't profitable already and mostly of them are just scams that's why I dont really bother myself when talking about cloud mining since I'm done already with hashocean scam

Because every day some new people will enter into bitcoins and after having some bitcoins either they want to grow further or earn more coins, so they will still check whether these programs still got any benefits. If they check forum then they will come to know but by creating new threads they will get an answers easily and if any new updates.

It's really worst to hear why these people kept on asking advantages of bitcoin cloud mining, despite of many concerns regarding to scam accusations from the experiences of those who sadly invested to mining sites. We have our own freedom to choose for and its up to them what they think is good for them, which they think profitable much. So to make this much clearer to whom it may concern, there's no advantages of btc cloud mining and its just a waste of profit and time.

Anyway more people come to us after we open the topic here. Just provide more choices for people who are interested in cloud mining and all is up to you/them if you/they will invest or not. 

Actually you can sell the hashrates in the market on hashnest. People do the trades in the market.

Yes it is instant because it is virtual mining not a real one.

99.9% uptime is shown in dashboard but who knows what is the real uptime of those mining device in the background.

Mining with one gigahash only will not have any significant return and also cloud mining is only suitable for those who just want to be proud about being one of the bitcoin miner. It is not profitable, even mining with real device at home is not profitable at current difficulty if you don't have cheap electricity.

youre realy and guaranted in youre cloud mining promotion real mining, you can guaranteed capital money investor
you can get much profit in cloud mining if you can get much referal, without referal is low profit
cloud mining low profit or high profit is same majority only ponzi scheme not real mining

these advantages sounds pretty good because all you have to do is just buying gigahash and profit will directly send into your account daily without pay electricity or doing anything but unfortunately the reality inversely proportional with what happening because many people has been trapped by cloud mining scam and losing their money

This causes many embarrassment



Another embarrassment




truth.

Who has many referral can make a profit

Well I can't really think of anything that resembles an advantage to a bitcoin cloud mining site.

You have to realise that cloud mining sites has to make profit one way or another, so if it is offering stable profits then it is probably a scam, probably a ponzi scheme as well.

If it's legit, then it'll probably charge you ridiculous maintainance costs, which you probably can avoid by getting miners yourself.

You cannot resell contracts on most cloud mining sites. However you can resell your miners, if you buy physical ones.

This what those cloud mining companies are keep on telling to the investors that is lack of knowledge about your service. 


Yes, escape the noise, helping you pay with your electricity bills and other bills as well and removing your headaches too.


Stable? In what way? Don't mislead people here, we all know that cloud mining will into the same fate of scamming people.


Yes you guys are flexible when it comes to investors, you are accepting whatever amount those investors can deposit to you.
Don't believe this guy people that is making cloud mining to be a good type of investment instead stay away from them.

We have very few legit cloud mining sites and advantages of using them is we cut down on  labor costs, cooling costs and generally maintenance costs of the equipment and the availability of skilled personnel to run the miners the efficient way .

- No any authority where we can file case against cloud mining service if they run away
- With increasing mining difficulty it is almost impossible to make any profit even after waiting for years
- Cloud mining services used to sell more than their real mining power
- Price of cloud mining packages keep on decreasing over time so it will not be not profitable to trade old mining packages
- There are many cloud mining sites that have ran away in past so it is quite hard to trust any other cloud mining services.

But getting referrals to sites nowadays is quite hard because now many people already know that these sites mostly end in a scam, so no one wants to risk their money. If anyone wants to get referrals, then they need to catch newbies, but soon or later they also will come to know about these scam programs. As per me, only owners of these sites will be benefitted, and rest of the people most likely will lose money.

How about disadvantages of cloudmining? Like;
Its not profitable anymore
Its not really stable. It could collapse anytime. The opposite of op was saying.
Cloudmining is scam prone. I've seen some cloudmining that turned to scam lately. Ran away with investors money.
It takes long time to get your ROI. It takes years. So its a patience test. Plus the risk of collapsing anytime.

These disadvantages kills the advantage of cloudmining. So only rookie are falling to cloudmining.

Most people know that cloud mining is a done industry with barely any chances of getting roi with these difficulty jumps every two weeks.

If the difficulty jumps aren't enough, you also need to get worried about contracts that might get dropped as you also mentioned, or they will just take everything offline and blatantly run with people's money.

Only rookies are interested in cloud mining as they find it interesting in the way that they think that they are mining, plus they also "earn money" without breaking a sweat.

There isn't any advantage in cloud mining. The profit is low or inexistent, the daily income isn't fixed, each new day you receive lower income, no guarantees in lifetime contracts. The only people making profit with cloud mining are the equipment's owners and the investors with many referrals.

Looooooooooooooooool

cloud mining "stable" xD

No, cloud mining is NOT stable, it's even the contrary. It's no unstable that if the price drops a bit too much for 30 days the "lifetime contract" will be voided.
So it's not stable and certainly not flexible!!!

to be honest the only benefit of "cloud mining" (legit one of course) that i can see is the fact that you don't have to have a physical miner at your home with the sound and all to mine.
everything else such as electric bill, ... all the things OP said are not really benefits. because most of them are in both cases.

but in front of that there are lots of downsides such as paying much more maintenance fees. and worst of all is trusting a third party that can run away at any point. and it already happened way too many times.

Hashnest must be doing really bad these days if they are employing people to make such topics. There are at least 20 similar ones already and those, who wanted to know more about cloud mining can find many useful information there. To me the most useful one is that the system makes you wait years to ROI and many CM companies disappear before or right after you reach this point, or like Genesis Mining tell you that they had to terminate your contract because it was unprofitable...

Can you explain to me why did you mined with S9s for almost 3 months before making it available and sell their hash power in cloud contracts?

Sorry no.
I'm afraid market is the only place you can 'transfer' the hashrates.

If the miners are not getting profit, surely we will stop running the machines. After then, there will be a redemption period when users can redeem their miners to their required addresses only if they have enough hashrates under their accounts.
The maintenance and electricity fee has been dropped to 0.07$/kwh which leave more profit to users actually.
S7 and S9 are getting profitable and S9 is the most effective hashreate.

Bet you didn't try HashNest which is the most reliable cloud mining platform.
It is under Bitmain which own Antpool and many physical miners.
It's getting profit from S7 and S9 now, and even PACMIC V5 contract.
We accept even starting investing from 1G=0.00004btc.
You can even redeem your miners to your address when it's getting unprofitable.

i would like to ask if transferring mining power to other user/s is possible without going to the market, lets say thru the support? been with hashnest for a while now but i don't see options for transferring mining power unless through the market

How can bitcoin get an advantage if its status is not profitable anymore? Do you have other option interms of using some alternative ways so that you can lessen the maintenance fee and electricity? And also how did your miner earn some profits? And lastly how long is your business do you think can survive since the blocks of bitcoins got more higher difficulty?

We all know what it is cloud mining. Usually, it is the other name for fraud and Ponzi schemes
You can found there a quite number of threads about cloud mining shit. You can enlist only new members who are greedy about money

What is cloud mining?
You can participate in bitcoin mining without maintaining the hardware by yourself.

We would like to share with you the advantages of bitcoin cloud mining to the members who are interested in.

1. Start hashing immediately!
Escape the noise, costly electricity bills, and warranty headaches.

2. Stable
Mining deployment on a global scale 99.9% uptime guaranteed!
Detailed statistics provided.

3. Flexible
Start mining with even just one gigahash.
Trade and transfer hashrate with ease.