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Topic: Advice for new users regarding CLOUD MINING - page 16. (Read 44275 times)

newbie
Activity: 10
Merit: 0
September 27, 2014, 12:02:33 PM
Just to make sure I understand this - there's not profit in cloud mining or regular mining...instead mining sounds like a fun hobby just like go cart racing or ice hockey, it's takes an investment in your part, does not return any financial gain but can be a lot of fun.

Does this sound accurate or is there some miner out there still turning a profit?
legendary
Activity: 1736
Merit: 1001
September 26, 2014, 10:30:56 PM
Best advice i can give is don't think difculty wont shoot up 100% in a few weeks you must figure this risk in before jumping in to cloud mining.
legendary
Activity: 1868
Merit: 1023
September 24, 2014, 04:49:47 PM
It should be noted that the Bitfinex TH1 contract expires on Dec 15.  They've increased supply as well. First offered 100 contracts (1 TH each), but now it is up to 400.

I think there are several problems with cloud mining
-People do it to speculate - like on cex.io - not to actually mine
-People don't understand difficulty increases. They see a high rate of return in one day and assume it will continue.
-It's very profitable for the cloud mining companies. So they promote it and don't care that the customers will lose money
-People assume that bitcoin will increase in price. If so, they are almost always better off holding.
-Scams and business failures.

I'm shorting TH1 on Bitfinex =)
legendary
Activity: 1344
Merit: 1024
Mine at Jonny's Pool
September 24, 2014, 08:45:30 AM
Justin,
You and I have engaged in a great discussion throughout this thread, and have expressed our opinions and views on the merits of cloud mining, the possibilities of positive return on investment, pricing models, etc.  While we may have had differences of opinions, I absolutely and wholeheartedly support what you've written in the quote.  Very well written.
+1
Hi,

Sorry, been on a well earned holiday.

Thanks for that comment. With the more recent negative news around mining we continue to aim to be open, transparent and straight forward and it's nice to see that people appreciate that.

J
No need to apologize, and I hope you were able to relax and unwind on your holiday.  As you can see from the most recent news, a closed-door policy of defrauding your customers leads to very unpleasant consequences for your business.  Open, transparent and straightforward are the best way to provide confidence to your investors and customers, and it is most certainly appreciated.
sr. member
Activity: 350
Merit: 250
September 24, 2014, 07:18:55 AM
Justin,
You and I have engaged in a great discussion throughout this thread, and have expressed our opinions and views on the merits of cloud mining, the possibilities of positive return on investment, pricing models, etc.  While we may have had differences of opinions, I absolutely and wholeheartedly support what you've written in the quote.  Very well written.
+1
Hi,

Sorry, been on a well earned holiday.

Thanks for that comment. With the more recent negative news around mining we continue to aim to be open, transparent and straight forward and it's nice to see that people appreciate that.

J
sr. member
Activity: 266
Merit: 250
September 23, 2014, 09:01:13 PM
bitfinex does look interesting. Fairly new though but a promising start
legendary
Activity: 4466
Merit: 3391
September 23, 2014, 06:03:56 PM
I think mining contracts of bitfinex is not bad. 1.115BTC per TH now.
Pool fee is a bit high(3%), but all hosting, power and maintenance cost for the duration of the contract is included in the price per TH.

Announcement
https://www.bitfinex.com/pages/announcements

Dividends history
https://www.bitfinex.com/pages/mining_stats

This is definitely a better deal than cex.io. I also trust bitfinex much more than those anonymous/ponzi cloud mining services.
full member
Activity: 238
Merit: 100
September 23, 2014, 05:21:10 PM
Your missing the most profitable cloud mining at the moment of that list, LTCGear. Current rates are $5.3125 per Mh with special offer they have running.

Also Cex.io is very hard to profit off.
sr. member
Activity: 294
Merit: 250
September 20, 2014, 12:45:17 AM
PB mining needs more love in this thread, but time will tell. When you look at the top investors there, they keep on investing more and more. And the amount invested is some serious crazy amount of bitcoins. Wondering how many bitcoins the payment address got? Total Received 963.57102327 BTC, Final Balance 363.56702327 BTC

If you follow the 600BTC out, it becomes part of an 880BTC address, that is somehow related to a 900 BTC address. So there is serious bitcoins not being used. Trying to wrap my head around how things are being run there..
hero member
Activity: 672
Merit: 500
http://fuk.io - check it out!
September 19, 2014, 10:10:34 PM
my review of clouds and renting services - http://fuk.io/cloud-hashing-and-rig-renting-services-review/
DrG
legendary
Activity: 2086
Merit: 1035
September 18, 2014, 01:58:04 AM
Anyone have a take on LTCgear ?

I have a few shares which have paid out on time every week, however the deal seems too good to be true in many ways which makes me worry that it is of course.

There is very little information which is a concern but then they guy that runs it was selling hardware before completely legitimately and research shows he seemed to be ahead of the game on chip development.

The deal is basically $850 (using the anniversary1yr code and with the BTC discount) for 160MH scrypt mining.  You ROI in about 4 weeks, but of course are tempted to reinvest (classic ponzi).

What do you guys think of this ? Too good to be true or ahead of the game ?  I think the site is seeing some big volume right now.  I am cautiously investing in this... banking some returns and reinvesting some.

Considering that you're a new user and you spammed the same wall of text verbatim in another thread I'm going to guess you are another shill just like I mentioned at the beginning of this thread.  How does that sound?
member
Activity: 69
Merit: 10
September 17, 2014, 11:28:01 PM
heres my cloud mining review [before hashlets] - http://fuk.io/cloud-hashing-and-rig-renting-services-review/

Under Cex.io Review and tricks: "the most profitable pool i have to add!"

Really? I think a good few people will not agree with you on this.

hero member
Activity: 672
Merit: 500
http://fuk.io - check it out!
September 17, 2014, 09:41:22 PM
heres my cloud mining review [before hashlets] - http://fuk.io/cloud-hashing-and-rig-renting-services-review/
DrG
legendary
Activity: 2086
Merit: 1035
September 17, 2014, 09:36:02 PM
I'm hopeful about PB mining. The hashrate you pay for is what you get, and this relates almost perfectly with an online calculator. Since you don't get to specify any settings with them, they could have it all pointed at one pool which gives them about 50% more than the online calculator. Just this fact alone, I think it's possible for them to last. I'm not 100% about the 50% more than the online calculator as I'm thinking that's possible based on what a couple people said. So, five years of anything is really pushing it online, but I hope all get returned what they put in, and then re-evaluate.

I'll start looking at the new signups per day, just to make sure it stays around, which I think it will as long as bitcoin does.

Me thinks you need to do some reading before throwing away your money and your opinions.  You don't get 50% more for using a single pool.
legendary
Activity: 3878
Merit: 1193
September 17, 2014, 08:20:48 PM
they could have it all pointed at one pool which gives them about 50% more than the online calculator.

Uh, no.
sr. member
Activity: 294
Merit: 250
September 17, 2014, 03:44:41 PM
I'm hopeful about PB mining. The hashrate you pay for is what you get, and this relates almost perfectly with an online calculator. Since you don't get to specify any settings with them, they could have it all pointed at one pool which gives them about 50% more than the online calculator. Just this fact alone, I think it's possible for them to last. I'm not 100% about the 50% more than the online calculator as I'm thinking that's possible based on what a couple people said. So, five years of anything is really pushing it online, but I hope all get returned what they put in, and then re-evaluate.

I'll start looking at the new signups per day, just to make sure it stays around, which I think it will as long as bitcoin does.

newbie
Activity: 19
Merit: 0
September 17, 2014, 02:16:00 PM
I think mining contracts of bitfinex is not bad. 1.115BTC per TH now.
Pool fee is a bit high(3%), but all hosting, power and maintenance cost for the duration of the contract is included in the price per TH.

Announcement
https://www.bitfinex.com/pages/announcements

Dividends history
https://www.bitfinex.com/pages/mining_stats
newbie
Activity: 20
Merit: 0
September 17, 2014, 10:47:39 AM
Anyone using hashnest.com?
DrG
legendary
Activity: 2086
Merit: 1035
September 17, 2014, 08:03:20 AM
I think cloud mining is the way forward, No electricity costs, no worry about fire in your house Cool as I used to

since we started up http://www.polminers.com we have had so many users say how much they prefer cloud mining and how much better ROI they get, Just look at the payout statistics (http://polminers.com/pricing.php) and this is quite affordable for us.

website has disappeared already - is this a new record?!

Somebody accused them of being the same people who ran lunamine.  That might explain that behavior  Cheesy
member
Activity: 89
Merit: 10
September 17, 2014, 06:38:50 AM
I think cloud mining is the way forward, No electricity costs, no worry about fire in your house Cool as I used to

since we started up http://www.polminers.com we have had so many users say how much they prefer cloud mining and how much better ROI they get, Just look at the payout statistics (http://polminers.com/pricing.php) and this is quite affordable for us.

website has disappeared already - is this a new record?!
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