Cloud mining for bitcoin | Bitcointalksearch.org

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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.

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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*

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

tjtonmoy

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I would not encourage anyone to waste their time in cloud mining. The majority of the cloud mining available in the market are scam, or they will add some odd conditions to withdraw your funds. Specially with BTC cloud mining. Other company may offer with altcoins. But by the time you mine a good amount of tokens to withdraw, the price will fall.
In the end, whatever you do, it's just a waste of time. So try to find other options that are available on the internet to make money from that.
One cloud mining from which I have made some profit in the past is storm gain.(in order to withdraw, you will have to trade future with that bonus BTC and make profit. you can only withdraw the profit, not the bonus) But if you want to use it, then do your own research before using it.

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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.

Not all but those that are not scams diverted to other businesses, of course, they settle their client's accounts first before moving to their new form of business. You can check CEX.IO for that.

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

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.

As far as I can recall, I also invested in this one but I was lucky I was able to sell my hashes before the system collapsed. So I ended up with a profit in this one. Grin

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

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.

Scam cloud mining company are just using a Ponzi scheme structure where first investors are being paid by the incoming investors but obviously it will collapse making lots of a bit late comer to not get their ROI.

FP91G

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If you want to earn money in cloud mining, it is better to buy 1 mining farm first. Then you will understand why you should not invest in cloud mining.

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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 🙏

According to me and that's how much knowledge I get that Bitcoin cloud mining websites are scam. There lire only new people and that's why they get a lot of funding in their accounts. They also offer some free hash power and that power is too low that you cannot withdraw even after 1 years of Their stopwatch. You should avoid from these scam clod mining websites. And I will recommend you only this.
I have also tried some websites too but thank Ms god I have never invested my my mean do not deposit money into that. And that sucks me a lot when a lot of people get scammed and their whole savings have been gone too.

yhiaali3

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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.

Lida93

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Quote from: hosseinimr93 on November 16, 2022, 01:14:12 PM

There is no bitcoin mining website and all so called cloud mining websites are scam. Such websites usually display a fake number as your balance and once you reach their minimum withdrawal amount, they ask you to deposit some bitcoin to be able to make withdrawal.

Don't waste your time and your money. That's not how bitcoin is mined.

There's this very cloud mining site I got involved in through a colleague of mine who introduced me into it showing me his first withdrawal from it. So I had to get involved due to his show of first withdrawal to me as evidence, I immediately registered and funded my account with $100 for the purchase of the supposed mining machine, as days go by, figures started increasing in number of which I was giving a stipulated compulsory period of time before I can make withdrawal. Just a 2 days to the withdrawal day a message popped up on the site that they are doing upgrading and it would take days to finish with the update and that was how that site crashed to my realization that I have been scammed.

What I understand about this cloud mining is that the first people to get involved are paid so that they can put in more money than they previously invested in and also also bring in new people and they all end up becoming victims eventually as the money gets bigger.

bettercrypto

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For your information nowadays there are no cloud mining apps that you can earn or have bitcoin that you can convert to real money. Even if you see downloadable cloud mining apps, for sure it's just a trap for trying customers who have no idea and know, yes you can deposit but don't expect to be able to withdraw money from the apps.

You might just see that you're making money in your account or dashboard but you won't be able to take it out because almost all of it is just a scam, so be a little careful.

NotFuzzyWarm

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Quote from: Bitcoin_Arena on December 10, 2022, 08:00:47 AM

Quote from: NotFuzzyWarm on December 09, 2022, 11:56:49 AM

I've been reporting all their spam posts to the mods as: Trash, cloudmining spam
With any luck they will soon be booted off the Forum Grin

Still not banned, or at least the trash posts deleted. I am not sure if the mods are paying attention in this board.

Meanwhile, I have just decided to take the shill accounts as a temporary solution.

Just an update to this, their accounts & of course posts have been removed by the mods.
The mods did leave this post of mine about it as a CSA https://bitcointalksearch.org/topic/m.61423936

Jensen Guttenberg

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Quote from: spectre71 on November 17, 2022, 09:52:26 AM

If it was profitable we would all be doing it already. Even if there was a good company the profit is so razor thin right now it wouldn't be profitable for either party.

You could buy some asic's an have them hosted. But I would tend to think that simply buying bitcoin and holding it would be more profitable and maintain liquidity. ROI would be a long time as well.

So True

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Quote from: NotFuzzyWarm on December 09, 2022, 11:56:49 AM

I've been reporting all their spam posts to the mods as: Trash, cloudmining spam
With any luck they will soon be booted off the Forum Grin

Still not banned, or at least the trash posts deleted. I am not sure if the mods are paying attention in this board.

Meanwhile, I have just decided to take the shill accounts as a temporary solution.

NotFuzzyWarm

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Evil beware: We have waffles!

I've been reporting all their spam posts to the mods as: Trash, cloudmining spam
With any luck they will soon be booted off the Forum Grin

stompix

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Quote from: NotFuzzyWarm on December 09, 2022, 08:41:55 AM

What planet are you from?

Bit3 offices, those three spammers have caught my eye today with their posts about cloud mining and bit3

Name:   Pepchich1989Date Registered:   December 08, 2022, 04:14:01 PM
Name:   NimboPontik93Date Registered:   December 08, 2022, 04:10:35 PM
Name:   martinenrotDate Registered:   December 08, 2022, 04:38:44 PM

The website is one month old, they claim euro 11kwh and running a profit, their calculations are obviously bogus on revenue and inflated by 50%, is there anyone still falling for these?

NotFuzzyWarm

legendary

Activity: 3822

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Evil beware: We have waffles!

Quote from: ?? on ??

I used and use only Bit3-mining services. They are on a mission to make bitcoin mining smarter and make it easily accessible to all. That is why they made an indelible impression on me.

I have to agree, Bitcoin mining difficulty dropped by 50%. It's the ideal time to get into Bitcoin cloud mining.

What planet are you from? BTC Diff sure as hell has NOT dropped by 50% here on Earth...
Folks... cloud mining for BTC is a SCAM. Generally they are Ponzi's. Period. End of story.
Brand new folks here shilling *any* cloud site and making ridiculous 'observations' like I emphasized in the quote should be and *is* a HUGE clue.

joniboini

legendary

Activity: 2170

Merit: 1789

You might want to look into farming. It does need some capital and it is not free from risk, but if you compare it to cloud mining then it is better in risk/reward ratio. You can farm on a popular pool to reduce the risk instead of trusting your money to some random party over the world. Regardless of altcoin or bitcoin, you still need some capital to make it work. Just remember that there is no free lunch. CMIIW.

AvianLord6495

newbie

Activity: 4

Merit: 0

Thank you

NotFuzzyWarm

legendary

Activity: 3822

Merit: 2703

Evil beware: We have waffles!

Quote from: AvianLord6495 on November 23, 2022, 01:17:22 PM

Hi everyone, so I read your replies and although it may not have been what I hoped for, thanks for the replies. However, I know this forum is about bitcoin but is there any way I could make this work with any other cryptocurrency?
I.E. Ethereum and/or Bitcoin Cash

For that you need to ask in the Altcoin Discussion areas of the Forum. This area is for BTC only.

AvianLord6495

newbie

Activity: 4

Merit: 0

Hi everyone, so I read your replies and although it may not have been what I hoped for, thanks for the replies. However, I know this forum is about bitcoin but is there any way I could make this work with any other cryptocurrency?

I.E. Ethereum and/or Bitcoin Cash

Kryptowerk

legendary

Activity: 2114

Merit: 1403

Disobey.

As mentioned by reasonable members of the forum with enough experience that you should kind of give value to their opinion: Most (99%) of "cloud mining services" are SCAMS.
Meaning they are PONZI-SCEMES in the most traditional sense. If you don't know what that means, google it, it's essential to survive in crypto.

In the rare case it's not a scam: Just understand, that price fluctuation of bitcoin, total (global) hashrate and electricity costs will vary and make any prediction of profitability almost impossible.

Daltonik

legendary

Activity: 2618

Merit: 1504

However, despite all the risks associated, including with cloud mining, all the nearest capacities on the recently launched binance cloud mining have already been sold out, after binance announced the launch of cloud mining.
https://www.binance.com/en/support/announcement/binance-pool-launches-cloud-mining-ef75792b15524f2081b33f6e3a64465a

https://pool.binance.com/en/cloud

Blawpaw

legendary

Activity: 1596

Merit: 1027

I used to rent from Hashnest, which was the ccloud mining arm of Bitmain. But in two years I ended up losing more money than earning. Cloud mining is not profitable at all. Not even mining at Hashnest cloud mining services is profitable. Cloud mining is not worth it at all. Better for you to buy real miners and find someone that can host them for you that to contract web mining services. This is my opinion, but you re free to check Hasnest and see what they have to offer.

WhyFhy

hero member

Activity: 1438

Merit: 513

Quote from: BitMaxz on November 17, 2022, 04:31:00 PM

Quote from: spectre71 on November 17, 2022, 09:52:26 AM

You could buy some asic's an have them hosted. But I would tend to think that simply buying bitcoin and holding it would be more profitable and maintain liquidity. ROI would be a long time as well.

Don't compare the profitability of mining and buying a bitcoin they are different. You can reach the ROI fast in mining depending on where you live or if you have free or very cheap electricity rate.
Buying bitcoin and hold them for a long time is always effective but mining will generate you more bitcoin and you can hold them until blockhalving to make more profit.

If you dont care about the logistics involved , you can get discounted bitcoin via mining.
The profit spread of buying vs mining with 90+% of btc already being mined and the work/capitol involved in mining now make purchasing the coin directly the "best" bet.
Time is money, the time & logistics involved in mining vs buying isnt worth the spread in profit differences imo. (edit to say these days , in the past mining was the way to go!!!)

NotFuzzyWarm

legendary

Activity: 3822

Merit: 2703

Evil beware: We have waffles!

Quote from: ?? on ??

Is cloud mining safe?

If you had bothered to read any of the previous posts you would know that the answer is a resounding NO!
The vast majority if not all of them are SCAMS.

Daltonik

legendary

Activity: 2618

Merit: 1504

Currently, when home mining requires really high costs to pay bills, more and more scammers have begun to offer cloud mining services, you need to be extremely careful and try not to trust their attractive offers, since at best it is a ponzi scheme and almost always it is a scam.

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1814

฿itcoin for all, All for ฿itcoin.

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

Greetings! I'm on a quest to find some bitcoin mining sites/apps

Don't waste your time and other resources such as internet data on the cloud mining scam

The best resource you have right now is actually time, and you can turn that time into money if you get a well thought strategy.

Quote from: BitMaxz on November 17, 2022, 04:31:00 PM

Don't compare the profitability of mining and buying a bitcoin they are different. You can reach the ROI fast in mining depending on where you live or if you have free or very cheap electricity rate.
Buying bitcoin and hold them for a long time is always effective but mining will generate you more bitcoin and you can hold them until blockhalving to make more profit.

With this current inflation rate, I am pretty sure there are very few places with cheaper electricity. I still think buying Bitcoin is more effective and profitable for a low budget person if one buys at the right time of the market.

Mining Bitcoin requires a lot of effort and also takes time for you to breakeven, even if the electricity is free.

BitMaxz

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Playbet.io - Crypto Casino and Sportsbook

Quote from: spectre71 on November 17, 2022, 09:52:26 AM

You could buy some asic's an have them hosted. But I would tend to think that simply buying bitcoin and holding it would be more profitable and maintain liquidity. ROI would be a long time as well.

Don't compare the profitability of mining and buying a bitcoin they are different. You can reach the ROI fast in mining depending on where you live or if you have free or very cheap electricity rate.
Buying bitcoin and hold them for a long time is always effective but mining will generate you more bitcoin and you can hold them until blockhalving to make more profit.

spectre71

member

Activity: 360

Merit: 22

If it was profitable we would all be doing it already. Even if there was a good company the profit is so razor thin right now it wouldn't be profitable for either party.

You could buy some asic's an have them hosted. But I would tend to think that simply buying bitcoin and holding it would be more profitable and maintain liquidity. ROI would be a long time as well.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

There is no bitcoin mining website and all so called cloud mining websites are scam. Such websites usually display a fake number as your balance and once you reach their minimum withdrawal amount, they ask you to deposit some bitcoin to be able to make withdrawal.

Don't waste your time and your money. That's not how bitcoin is mined.

AvianLord6495

newbie

Activity: 4

Merit: 0

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 🙏

Topic: Cloud mining for bitcoin (Read 1103 times)