Cloud mining for bitcoin | Bitcointalksearch.org

stompix

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Quote from: safar1980 on January 17, 2023, 04:21:14 AM

Binance Pool Launches Cloud Mining Partner Program
following requirements:
~
Holds a predetermined amount of BTC collateral on their Binance Pool account to guarantee a steady hash rate

Muahahaha, this is a new one!
So I'm lending my hashrate to you without which you can't run your business since you just have a platform, you're the intermediary, you make money reselling my hashrate, and you want me to put down collateral while the risks are obviously the other way around, you using my hash to earn money do not pay me a dime?

Yeah, that has worked wonders in the past!

Quote from: safar1980 on January 17, 2023, 04:21:14 AM

Have a total BTC hashrate that is greater than 500 PH/s

Hmm, HUT 8 and Bit Digital barely had a bit over one Exa last year, whoever has this amount of hashrate already has some nice contracts in place, slim chances they'll walk into a partnership where they have to put money down. Seems like their VIP level 9 is for over 2 Exa, they could instead name it after the one qualifying for it, there are listed companies who don't have that!

Alexeymalutin

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Better to buy your self an ASIC this cloud services are way overpriced
Good to start with something like 100 USD but not for a long run.

safar1980

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Binance Pool Launches Cloud Mining Partner Program
following requirements:
Own reliable and stable power resources
Have a total BTC hashrate that is greater than 500 PH/s
Attains an average daily online rate that is higher than 95% for their mining machines
Have a comprehensive mining monitoring system and a professional mining operation team
Holds a predetermined amount of BTC collateral on their Binance Pool account to guarantee a steady hash rate

gunhell16

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Quote from: KFC786 on December 29, 2022, 03:01:25 AM

I want to mine Bitcoin and also crypto cause I need Money from my expenses and it spuid be good if earn so fast. But I have heard that Cloud mining sites are scam. So I haven't invested yet.

So, now that you know, do you still have an interest to continue to try it in the cloudmining?
Don't waste your time on this thing dude, because your just throwing your money in the trash can you know.
Besides, there are a lot of options for you to earn here in the crypto business actually.

As long as you have the skills in which is related here in the crypto space, I am pretty sure you will not be zero
in terms of getting profit here in the crypto space.

Flep182

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Quote from: Daltonik on January 04, 2023, 04:03:09 AM

Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

Greetings! I'm on a quest to find some bitcoin mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the BTC. I'm looking to setup as many as I can to get ideally 0.33 BTC as quick as possible; then sell the BTC. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation. I've recently been spending some time devising strategies and formulating plans to make money working smart rather than hard.
Or perhaps another cryptocurrency can help me with this, one way or another. Thanks for the replies, greatly appreciated 🙏

I remember there was once a hashocean "cloud mining" hype in 2015, and there, too, as the number of users increased, the daily incomes of the early participants grew, but exactly until the moment in 2016, the scammers decided that they had enough funds and the continued existence of this "cloud mining" would already require investments from themselves by deceiving 700,000 people, and there are enough such examples.

Remember GAW Miners, with their hashlets, that made more money by trading them than by actually running them. Or the pre-ASIC LTC mining hardware from this mysterious dude that did a few insane sales over black friday and christmas and then did a *poof*

Daltonik

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Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

Greetings! I'm on a quest to find some bitcoin mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the BTC. I'm looking to setup as many as I can to get ideally 0.33 BTC as quick as possible; then sell the BTC. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation. I've recently been spending some time devising strategies and formulating plans to make money working smart rather than hard.
Or perhaps another cryptocurrency can help me with this, one way or another. Thanks for the replies, greatly appreciated 🙏

I remember there was once a hashocean "cloud mining" hype in 2015, and there, too, as the number of users increased, the daily incomes of the early participants grew, but exactly until the moment in 2016, the scammers decided that they had enough funds and the continued existence of this "cloud mining" would already require investments from themselves by deceiving 700,000 people, and there are enough such examples.

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Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

Greetings! I'm on a quest to find some bitcoin mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the BTC.

With the way you sound I think you will most likely get scammed into investing into some kind of cloud mining pool that will end up as scam at the end, because cloud mining is a proven scam and you are advised to stay away from them.

Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

I'm looking to setup as many as I can to get ideally 0.33 BTC as quick as possible; then sell the BTC. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation.

The amount of daily reward of 0.33 is way to high that you will require a high-level mining devices that will cost quite a lot to get them set up. I guess you should concentrate on building a stable income by setting up a bitcoin mining firm instead of investing in a third-party cloud mining scheme that could run away with subscribers' invested funds.

Quote from: KFC786 on December 29, 2022, 03:01:25 AM

I want to mine Bitcoin and also crypto cause I need Money from my expenses and it spuid be good if earn so fast. But I have heard that Cloud mining sites are scams. So I haven't invested yet.

First, you should know that there is no quick money anywhere, and any attempt to get quick money can lead you into a scam project, you should concentrate on building up your knowledge on investment and set aside some extra funds to invest in bitcoin for the long term base. Instead of investing in cloud mining or other centralized investment projects.

letteredhub

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Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

Greetings! I'm on a quest to find some bitcoin mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the BTC. I'm looking to setup as many as I can to get ideally 0.33 BTC as quick as possible; then sell the BTC. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation. I've recently been spending some time devising strategies and formulating plans to make money working smart rather than hard.
Or perhaps another cryptocurrency can help me with this, one way or another. Thanks for the replies, greatly appreciated 🙏

At first when I saw the subject topic of your thread I shrouded shoulders knowing full when that nothing profitable comes from cloud mining except losses as a victim to scam activities with huge sugar-coated promises on ROI.
If your looking for a way to make money through cryptocurrency in meeting your demands then cloud apps ain't the right path to embark on, it's a road that leads to nowhere good. If you can put up together resources for equipments needed for conventional mining then it's better than looking into cloud mining.

KFC786

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I want to mine Bitcoin and also crypto cause I need Money from my expenses and it spuid be good if earn so fast. But I have heard that Cloud mining sites are scam. So I haven't invested yet.

Mr. Magkaisa

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Quote from: BitDane on December 27, 2022, 10:33:14 PM

I did try to rent rigs from them. Its fine so far, you can point the miner wherever you wanted them to mine. I used them to mine Doge back then. If I hold those Doge that I mined I would have say I have profited a lot but sadly, I sold them when the price was too cheap. I would still recommend to buy coins than renting mining rig because the best deal you can have in renting rigs is a break even except you plan to hold the mined coins and sell it when the price goes up.

- In short, you've tried to do this in the last few years mate? Did it come back to you in any way that the capital you used in this rental mining grew? and at that point you're saying that it's not profitable, right?

Quote from: BitDane on December 27, 2022, 10:33:14 PM

They host mining rigs that are set for rentals. Of course the platform needs to profit and at the same time the owner of those mining rigs. So there are already added charges which reduce the profitability for mining. You can try it for experience, since you have to command on where you wanted to point those miners.

- if that's the case, I think I want to try it, nothing, just out of curiosity, I don't have a problem if I don't make money and at least I know the feeling of this way in this industry to earn crypto via rental mining.

BitDane

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Quote from: Mr. Magkaisa on December 26, 2022, 01:08:23 AM

Quote from: WhyFhy on December 24, 2022, 10:31:52 AM

Quote from: nicehash on December 23, 2022, 04:40:26 AM

You can buy hashrate on NiceHash. NiceHash is not a cloud mining company since you are not buying contracts but are only creating hashrate orders which can be manipulated (change the price, hashrate limit, or cancel it anytime).
You can read what NiceHash is here: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works

Nicehash is the gateway to rentals, but the deposits and fee's make renting from these guys unideal as well as a questionable history of fraud hence no one's mentioned em thus far. Roll Eyes

maybe check this alternative out (my reference included) MiningRigRentals.com

- Are these the mining rentals you are talking about mate have you tried putting money into it? if your answer is yes, how are you? I hope the real answer is not because you will get a commission here.

I did try to rent rigs from them. Its fine so far, you can point the miner wherever you wanted them to mine. I used them to mine Doge back then. If I hold those Doge that I mined I would have say I have profited a lot but sadly, I sold them when the price was too cheap. I would still recommend to buy coins than renting mining rig because the best deal you can have in renting rigs is a break even except you plan to hold the mined coins and sell it when the price goes up.

Quote from: Mr. Magkaisa on December 26, 2022, 01:08:23 AM

Because as far as I know, at this time I don't see anyone who can say that these types of mining are profitable just by using their website platforms.

They host mining rigs that are set for rentals. Of course the platform needs to profit and at the same time the owner of those mining rigs. So there are already added charges which reduce the profitability for mining. You can try it for experience, since you have to command on where you wanted to point those miners.

WhyFhy

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Quote from: Mr. Magkaisa on December 26, 2022, 01:08:23 AM

Quote from: WhyFhy on December 24, 2022, 10:31:52 AM

Quote from: nicehash on December 23, 2022, 04:40:26 AM

You can buy hashrate on NiceHash. NiceHash is not a cloud mining company since you are not buying contracts but are only creating hashrate orders which can be manipulated (change the price, hashrate limit, or cancel it anytime).
You can read what NiceHash is here: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works

Nicehash is the gateway to rentals, but the deposits and fee's make renting from these guys unideal as well as a questionable history of fraud hence no one's mentioned em thus far. Roll Eyes

maybe check this alternative out (my reference included) MiningRigRentals.com

- Are these the mining rentals you are talking about mate have you tried putting money into it? if your answer is yes, how are you? I hope the real answer is not because you will get a commission here.

Because as far as I know, at this time I don't see anyone who can say that these types of mining are profitable just by using their website platforms.

Admittedly right now the whole mining ecosphere isn't ideal, so I'm not even currently using these services.
When flexpool started its boom I was renting 30-50% of the entire pool hashrate when it started hitting a block every few hours ,
I'd do burst rentals for a few hours right after a block was found (luck reset) if we hit 1 block i was breaking even if we hit 2 or 3 during my rental the payouts where phenomenal.
eventually I got penciled out after about a week. I did this 11 times , broke even 5 times hit more than 1 block 4 times and got nothing 2 times. Your luck may vary.
I advise you to really understand your risk before attempting this, luck is a metric you cannot ignore and things like doubling down after a unlucky streak should be taken with caution.
Dont deviate from your plan.
This is how nerds like me really gamble.

Mr. Magkaisa

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Quote from: WhyFhy on December 24, 2022, 10:31:52 AM

Quote from: nicehash on December 23, 2022, 04:40:26 AM

You can buy hashrate on NiceHash. NiceHash is not a cloud mining company since you are not buying contracts but are only creating hashrate orders which can be manipulated (change the price, hashrate limit, or cancel it anytime).
You can read what NiceHash is here: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works

Nicehash is the gateway to rentals, but the deposits and fee's make renting from these guys unideal as well as a questionable history of fraud hence no one's mentioned em thus far. Roll Eyes

maybe check this alternative out (my reference included) MiningRigRentals.com

- Are these the mining rentals you are talking about mate have you tried putting money into it? if your answer is yes, how are you? I hope the real answer is not because you will get a commission here.

Because as far as I know, at this time I don't see anyone who can say that these types of mining are profitable just by using their website platforms.

yhiaali3

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Quote from: pixie85 on December 21, 2022, 11:53:19 AM

The company was happy because they got 0% loan from the user for a year or 2 in which time they'd buy a miner that generated profit for Genesis.

Good man, you described the situation very accurately, yes that is what cloud mining companies are for.
I always asked myself this question: If mining is so profitable, why don't they mine themselves? Why do they sell hardware devices they claim to have bought? the answer to this question is that they are liars. They take the investors' money and return it to them slowly in the long run.

In fact, Genesis is considered the best of them because at least it returns some money to investors in the end, while some other companies do not return anything, they steal all the money.

WhyFhy

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Quote from: nicehash on December 23, 2022, 04:40:26 AM

You can buy hashrate on NiceHash. NiceHash is not a cloud mining company since you are not buying contracts but are only creating hashrate orders which can be manipulated (change the price, hashrate limit, or cancel it anytime).
You can read what NiceHash is here: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works

Nicehash is the gateway to rentals, but the deposits and fee's make renting from these guys unideal as well as a questionable history of fraud hence no one's mentioned em thus far. Roll Eyes

maybe check this alternative out (my reference included) MiningRigRentals.com

nicehash

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NiceHash.com

You can buy hashrate on NiceHash. NiceHash is not a cloud mining company since you are not buying contracts but are only creating hashrate orders which can be manipulated (change the price, hashrate limit, or cancel it anytime).

You can read what NiceHash is here: https://www.nicehash.com/support/general-help/nicehash-service/what-is-nicehash-and-how-it-works

gunhell16

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Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

Greetings! I'm on a quest to find some bitcoin mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the BTC. I'm looking to setup as many as I can to get ideally 0.33 BTC as quick as possible; then sell the BTC. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation. I've recently been spending some time devising strategies and formulating plans to make money working smart rather than hard.
Or perhaps another cryptocurrency can help me with this, one way or another. Thanks for the replies, greatly appreciated 🙏

If cloud mining is what you are looking for dude, I advise you not to continue investing in it, as many have given their suggestions on what you want to do, I think you should know what to do right.

It is true what most people said in the topic you made here, instead of spending time investing in cloud mining sites, it is better to grow your capital by doing trading activities here in cryptocurrency. At least there is still a big chance that the amount you will allocate to it will grow.

pixie85

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Quote from: yhiaali3 on December 17, 2022, 04:48:34 AM

Yes, that's right, cloud mining companies are all scams. I have tried many of them in the past but they are liars who only give you false promises.

Several years ago, genesis-mining was one of the best cloud mining companies (according to their claim of course), so I registered with it and bought hash power for bitcoin mining. In the early days, they gave me good profits, but they decreased with time.

After a while they told me that the mining difficulty increased dramatically and my hashing power was no longer enough to mine bitcoin and they transferred me to altcoin mining. Profits continued to decrease on a daily basis until they became nothing.

In the end I didn't even charge an ROI.

That was their operating scheme.

Get someone to invest in cloud mining.
Offer high profit to make them feel safe like the business is paying for itself, but give them less than their investment so that they can never withdraw 100%
Give them bonuses to make them invest some profit into upgrades and such to extend their ROI time.
Use user's money as a loan to buy more mining equipment that would mine for the company.
As ROI time came close tell user the purchased has is no longer profitable.

This made the user get back almost all the investment and feel like it's not worth their time to sue the company because there was no real loss on their part.
The company was happy because they got 0% loan from the user for a year or 2 in which time they'd buy a miner that generated profit for Genesis.

The difference between companies you call scammers and those you don't in the cloud mining industry is in the amount you felt that they scammed you for. If it was all of your investment = scam! If the company gave you back your investment = legit. The problem is that both companies scammed you.

FP91G

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Quote from: Mr. Magkaisa on December 20, 2022, 10:02:50 PM

- Cloud mining is really what you thought of as a way to do what you want dude, there are many other options out there to help you do what you want to happen, like Crypto trading, or if you have a lot of money buy a bitcoin mining rig so hassle is not involved anymore.

Because in this era cloud mining is just junk in the trash because it is no longer profitable to be honest dude. Assets will only be at risk, bosses who know how to be careful are still good.

If you do not want to lose money on cloud mining, then it is possible to do this on crypto trading

Most cloud mining services become active when the price of bitcoin rises and mining quickly pays off. Now most miners are trying to save their business, and most of the cloud mining offer is probably scammers.

Mr. Magkaisa

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Quote from: AvianLord6495 on November 16, 2022, 10:31:13 AM

Greetings! I'm on a quest to find some bitcoin mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the BTC. I'm looking to setup as many as I can to get ideally 0.33 BTC as quick as possible; then sell the BTC. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation. I've recently been spending some time devising strategies and formulating plans to make money working smart rather than hard.
Or perhaps another cryptocurrency can help me with this, one way or another. Thanks for the replies, greatly appreciated 🙏

- Cloud mining is really what you thought of as a way to do what you want dude, there are many other options out there to help you do what you want to happen, like Crypto trading, or if you have a lot of money buy a bitcoin mining rig so hassle is not involved anymore.

Because in this era cloud mining is just junk in the trash because it is no longer profitable to be honest dude. Assets will only be at risk, bosses who know how to be careful are still good.

Topic: Cloud mining for bitcoin (Read 1110 times)