Topic: Cloud Mining Revamped (Read 251 times)

Not totally all are can be tag as scam since there are few cloudmining operation still running but the question is are they profitable? Since last time I check they are not giving good profits to their investors that's why I never take it as good option if we talk about investing our money. Also there are so many scams using this word so maybe it's good for people to not invest on any of it.

Cloud mining is real and legit is a mechanism to mine cryptocurrency using cloud computer power without direct installation of hardware and it reduce the cost of energy and maintainers. So there nothing like scam there

Thanks a lot guys for all your replies. They were really helpful and I realized that this project is kind of a dead end.
I will be doing my best to find a good idea for a crypto project and hopefully post it here as well!

The closest I ever saw to a viable cloud mining (or rather, managed mining shall we say) service was Hydrominer. Note: I'm not promoting it and it's a dead project as far as I can tell.

An actual indie miner in central europe (Austria), using cheap hydropower, came out with a rather interesting prospectus, and were the first to my knowledge to actually attempt fair and transparent reporting, distributing dividends on actual blocks mined rather than fixed income.

But as they found out, it was really impossible to guarantee investors profit. As I recall, doing it fairly and transparently as hashpower rose faster than they could build new rigs, investors actually lost money.

Managed mining, cloud mining, is either a scam, or not profitable. Not easily, and not predictably enough.

There is no such thing as revamped cloud mining, you cannot change the perception of the majority of people and investors about cloud mining, it's a Ponzi scheme and that's all it is, there are so many investors that these scam cloud mining in the past have scammed why create a new perception on it and try to make it look legit, leave it as it is, cloud mining is Ponzi scheme period

Not all cloud mining services is a scam it's just that the scam cloud mining services have overshadowed the real ones because of their high yield potential and probably has been more popular because of the referral commissions they are having which real cloud mining services don't have, real ones really have mining rigs where they rent out there hash rate for their clients the fake ones have none and they are trying to fool you with stock photos they have seen from the internet. Also the OP doesn't seem the get the point of what cloud mining should really be as watching ads isn't really a solution here if he doesn't have any hardware to support a mining operation, his website would just be a gimmick if he actually do that.

Cloud mining is a scam.Period.There's no way to make cloud mining a legit business model.
So this "cloud mining" company takes all the money of the customers and rents servers for mining purposes,while giving the customers a percentage of coins that were mined.
Sounds like a good business model,but it isn't.Most server companies don't allow crypto mining and crypto mining isn't profitable on ordinary servers.You need mining equipment and cheap electricity.You can't rent mining equipment online.
What you are describing is a Pay-Per-Click faucet,which is another waste of time and the advertisers won't be paying that high(0,2USD per click) for incentivized clicks,made by users,that aren't interested in their products and won't convert into customers.

Whenever someone wants to enter in crypto business, even if they haven't good ideas, add the word "mining" to his business name.
Then we have a lot of cloud xxx mining services, "mine Pi" and other nonsense BS.
I guess it's because many noobs who hear sometimes about cryptocurrencies, also hear that is here "mining" as part of earning possibility. It’s just confusing beginners and a cheap attempt to mislead to get their money.

And you think that if you falsely name that cloud mining, it would work out?

Your business model is more or less used by many faucets.
The only differences are that (I think that) they pay less than 1 cent/dip. But they do fund themselves from advertising.
Some do bonus the people with money kept there, but it's some percents/day on the amount and not related to ads.

All in all, it's a PPC/ad-visiting business model. At cloud mining one buys hash power and doesn't have to visit the website to be earning.
You better go the freebitco.in faucet, maybe go to firefaucet.win, see their different way to handle ads and you can adjust your business model.

So you are going to change the whole meaning of the word cloud mining because it is very much associated to Ponzi Scheme, your idea is not cloud mining at all but faucets and paid to click model, cloud mining used to be an established business model in the past, because it's profitable back then, when difficulty is not really high, I don't think you can change people's perception of cloud mining if you want to use your idea, then do not use the word cloud mining at all.

I think you are a bit confused. Cloud mining should have pretty simple business model. They buy the rigs, you rent the hash power, they pay you out from their mining profits. What you are describing looks like a way to make ponzi scheme (scam) viable short term. Real cloud mining doesn't need ads or any other stuff like that.

Depositing money is not the main problem of a cloud mining website, the main problem of a (scam) cloud mining website is they aren't real and their operations of a "mining farm" doesn't exist in the first place most of them offer up fixed rates where for a real mining farm would be hard to pull through as they know they won't be generating the same amount of Bitcoin everyday. If you will be creating some kind of ad viewing way for users to earn money on a fake cloud mining website then I wouldn't recommend you doing so as you aren't really solving any problem here, you are just using the word "cloud mining" when your operations would just be about viewing ads and nothing about mining Bitcoin.

You're right, thanks!

Actually, that's a good idea but I still think that I need something to encourage people to the platform.

Sadly yes but I need a reason for people to actually visit the website however I am still open to suggestions.

your idea sounds a lot like pay per click (PPC) which is a common way of wasting time and another form of Ponzi scheme. they follow the same principles that make cloud minings turn scam, they start a business and start paying people, then they fail to make enough money so they ask them to make an investment, then eventually as they can't make enough money they turn into scamming to make money and stay alive.
internet is filled with PPC sites that come and go.

Not always!
There are at least two cloud mining business that has been in the field long enough and I haven't yet come across a single scam accusation against either bitdeer or viabtc. But if you chase 100% revenue in 1 month with cloud mining of course you end up only with fake websites.

That being said, all your proposal has nothing to do with cloud mining or even mining, as  LoyceV said you're basically proposing a faucet where you earn money viewing ads, and the revenue from seeing 10 ads if you're in a 3rd wold country won't be enough to power a miner even for 1 minute. When you try to "fix" a business try to look from the owner's side also, not just from the so-called customers who just want money for free.

Even if they pay out some users, it's still very likely to be a ponzi scheme. Stay away from those!

Do that without the cloud mining BS and you may actually have a viable business model.

That's called a faucet!

I think everyone who is reading this has some knowledge about cloud mining and one of the most heard comments on that topic is that it's always a scam. Even if it's not, we can't tell since no one dares to try and deposit some of their money into a random website and that is understandable. But thinking about it that way, why don't we find out a reasonable way to show people that it works without unrealistic promises?

This idea came to me a while ago when I first encountered a cloud mining website and since then I still think there may be something that can be done. After some digging, I came back to the root of the problem: depositing money into the website. This is the first step for you to enter a cloud mining website and this is the most difficult one so why not create a cloud mining website without the need of depositing money into it? Now the problem is that we should find a way to be able to give that extra amount of money to people who entered the website.

Every website nowadays displays ads on its pages to generate a certain amount of money. What if the website owner splits the ad revenue with the users? Let's say, to have a concrete scenario, that each ad viewed generates 0.20$. If initially, the user gets 50% of each ad viewed, he'll get 0.10$ per page visit and that percentage will increase depending on the balance of the user. For example, someone with 0.01 BTC should not be mining the same amount as someone with 1 BTC so a formula will be created to be able to fairly distribute that percentage for all users that way everyone will be winning accordingly. One important thing to note is that the revenue of a user doesn't depend on the whole website's traffic because the revenue of ads being viewed by that user are split and not the revenue of the whole website so it doesn't matter if the website has 1000 users or 1 user. Also to prevent people from just creating an account and leaving (which leads to only one ad being viewed), there should be a timer, for example, to click every day to start mining for 24 hours.

This was my original solution and I think that there is some potential in it so let me know your thoughts on this and if you have any feedback or questions feel free to leave them down below.