Cloud mining Advise | Bitcointalksearch.org

richkellj

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Quote from: leex1528 on October 23, 2015, 09:21:18 AM

Quote from: winspiral on October 23, 2015, 08:46:42 AM

Quote from: winguard on October 23, 2015, 08:40:44 AM

My advice to OP just stay away from cloudmining. You will never reach ROI and most turn to scams later although there are still legit ones but very few.

Hello again...never say never.
Serious cloudmining should be interesting...should not?

There are a few sites that are legit apparently. I got burned on one and I don't like using them anymore so I think I will just stay away from them for now. It is hard to get ROI and they have to be really trust worthy.

Yes loosing in cloud mining is the problem most of people here faced.

leex1528

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Quote from: winspiral on October 23, 2015, 08:46:42 AM

Quote from: winguard on October 23, 2015, 08:40:44 AM

My advice to OP just stay away from cloudmining. You will never reach ROI and most turn to scams later although there are still legit ones but very few.

Hello again...never say never.
Serious cloudmining should be interesting...should not?

There are a few sites that are legit apparently. I got burned on one and I don't like using them anymore so I think I will just stay away from them for now. It is hard to get ROI and they have to be really trust worthy.

winspiral

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Free WSPU2 Token or real dollars

Quote from: winguard on October 23, 2015, 08:40:44 AM

My advice to OP just stay away from cloudmining. You will never reach ROI and most turn to scams later although there are still legit ones but very few.

Hello again...never say never.
Serious cloudmining should be interesting...should not?

winguard

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My advice to OP just stay away from cloudmining. You will never reach ROI and most turn to scams later although there are still legit ones but very few.

pjsonowal

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Quote from: knightkon on September 02, 2015, 08:50:12 AM

I am thinking of cloud mining to save me the hassle of the equipment and all. Is this a good choice? If it is what would you recommend and where should I start? I have seen many threads in here about it, but it is hard to tell which is good and which is a bad idea to listen to. The only mine I seen is .001 per Gh if you buy 20k GH. Now are these charges for the entire contract or just for the month? It is so confusing. Thank you in advance for the help.

see working on cloud mining is basically risking your bitcoins ...there are many bitcoin cloudmining websites that went on scams...take example of scrypt.cc ...they take away all the bitcoins of users saying that their ghs were being hacked....so stay with care and beware of scammers.....

Mickeyb

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Move On !!!!!!

Quote from: Hugroll on September 27, 2015, 06:23:57 PM

if cloudmining ROI is so bad why do people still use them? Huh

Because people are greedy as hell and they want to make some money no matter what. Also, before a year or so, it was very easy to make some bitcoins. Trading was one way. Investing other. Heck, it was even enough just to be on this forum and attend giveaways of some crap coins and then just taking these coins to the exchanges and dumping them right away for BTCs.

So people got used to it and now they are forcing it and taking risks. Apart the signature campaigns as Amph has suggested, there are no good options on earning anything anymore.

Amph

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Quote from: Hugroll on September 27, 2015, 06:23:57 PM

if cloudmining ROI is so bad why do people still use them? Huh

because everything else is even worst right, now, aside from signature what are the other good option? nothing

if you can wait for your roi then it's pure profit, with cloud mining or home mining, it can be worth it in some cases

Hugroll

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if cloudmining ROI is so bad why do people still use them? Huh

Blawpaw

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I guess you can make some +profit with Hashnest if you keep a good management of mining along with trading GHS. you will Only make some profit by trading GHS, not by mining.

figmentofmyass

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Quote from: leex1528 on September 24, 2015, 03:34:33 PM

Quote from: figmentofmyass on September 24, 2015, 03:07:52 PM

Quote from: leex1528 on September 24, 2015, 02:41:47 PM

Unfortunately mining in general is just not a good way to make anything.

mining is actually quite profitable. i know miners that produce coins at ~ $80/coin. considering BTCUSD price is at $236 right now, that is pretty damn profitable. the thing is---you need a lot of capital to reasonably scale your operation (no point mining for pennies) and you need access to new generation chips (connections to manufacturers) to compete re: difficulty.

What coin are they mining? What are they using to mine? How much is their electric bill? I was under the impression that it is next to impossible to gain anything from mining BTC.

bitcoin. i only know most of the details for one friend in british columbia---but others have told me they are still very profitable. he has new gen spoondoolies and upgrades regularly. IIRC he pays less than 9 cents per kwh.

like i said, it's all about capital-->scale, electricity cost, access to new generation miners. so yeah, casual miners who want to point their GPUs at bitcoin mining pools or people with Rasberry Pis should not expect to make anything. Cheesy

leex1528

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Quote from: figmentofmyass on September 24, 2015, 03:07:52 PM

Quote from: leex1528 on September 24, 2015, 02:41:47 PM

Unfortunately mining in general is just not a good way to make anything.

mining is actually quite profitable. i know miners that produce coins at ~ $80/coin. considering BTCUSD price is at $236 right now, that is pretty damn profitable. the thing is---you need a lot of capital to reasonably scale your operation (no point mining for pennies) and you need access to new generation chips (connections to manufacturers) to compete re: difficulty.

What coin are they mining? What are they using to mine? How much is their electric bill? I was under the impression that it is next to impossible to gain anything from mining BTC.

figmentofmyass

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Quote from: leex1528 on September 24, 2015, 02:41:47 PM

Unfortunately mining in general is just not a good way to make anything.

mining is actually quite profitable. i know miners that produce coins at ~ $80/coin. considering BTCUSD price is at $236 right now, that is pretty damn profitable. the thing is---you need a lot of capital to reasonably scale your operation (no point mining for pennies) and you need access to new generation chips (connections to manufacturers) to compete re: difficulty.

leex1528

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I have fallen victim to the Cloud mining, aka PBMining. I thought it was great, I just started out and figured hey I can mine coins without the cost of electricity, well I ended up losing about .5 coins on their site and never got anything back. Unfortunately mining in general is just not a good way to make anything.

CryptoTrout

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ya my advise is dont cloud mine

Amph

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Quote from: CryptBit on September 23, 2015, 12:57:16 PM

Quote from: master sato on September 23, 2015, 12:54:22 PM

apparently the consensus is that mining isn't profitable and cloud mining is even worse

Basically. But if you don't want to take care of hardware mining then cloud mining is the best bet for you.

i would do it only for the cost of electricity, cloud mining was born to help those with high bills cost, nothing more or less, the trouble for contorlling your HW is a plus

but at this point only hashnest has the s/, which mean that you have one option only

figmentofmyass

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Quote from: Echye on September 23, 2015, 01:54:45 PM

Most of cloud minings tell you that you'll break even in 1 year and 1 month and most of the times the site turns into ponzi before that

exactly. i don't know why bitcoiners have this obsession with investing their bitcoins. most investment schemes are outright frauds, and those that aren't are highly speculative. bitcoin itself is already highly speculative. makes more sense to me to ride BTCUSD as an investment and swing trade the market. much safer than dealing with dodgy schemes.

vendetahome

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the best advise would be not to do cloud mining in my opinion as it will take a lot of time until you will make the roi and the website can easily turn to scam a few days after investing

Echye

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Most of cloud minings tell you that you'll break even in 1 year and 1 month and most of the times the site turns into ponzi before that

figmentofmyass

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Quote from: zifford on September 23, 2015, 12:10:32 AM

Ummm. my advice: Don't trust those scammers. Cloud mining = scam central. Prolly better off gambling it away........

And yeah I know from experience Angry

^^ anyone posting in this thread about how they are currently paying for cloud mining or looking to start---this is what you will sound like. everyone of them eventually shuts down and runs with everyone's money. and you're never getting it back.

BitcoinNewsMagazine

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Quote from: knightkon on September 02, 2015, 08:50:12 AM

I am thinking of cloud mining to save me the hassle of the equipment and all. Is this a good choice? If it is what would you recommend and where should I start? I have seen many threads in here about it, but it is hard to tell which is good and which is a bad idea to listen to. The only mine I seen is .001 per Gh if you buy 20k GH. Now are these charges for the entire contract or just for the month? It is so confusing. Thank you in advance for the help.

First, you really should be thinking about trading hosted mining instead of just buying cloud mining, and never consider an outfit where you cannot sell your hash (like Genesis Mining.) Earlier this year it was not hard to make 15% per month trading hash at Hashnest. I blogged my experience at how to profit with Bitmain Hashnest.

Right now and for next year I also expect the action to be at Hashnest. S7 hash is scheduled to start trading October 10 and you can bet I will be trading and blogging my results. It is all about buying hashrate when prices are in an uptrend and selling for profit with mining income as a bonus.

Topic: Cloud mining Advise (Read 2610 times)