Cloud Mining Service Legitimacy | Bitcointalksearch.org

subSTRATA

legendary

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:^)

Quote from: Amph on June 24, 2015, 03:57:13 AM

Quote from: Phildo on June 23, 2015, 10:23:44 PM

I'm not sure why you (or anyone) thinks that "pay someone else for hardware and electricity" is such a better idea than "pay for hardware and more for electricity."

you said it , it is because you pay more for electricity, and you don't need to have to do with all the hassle about shipping time, customs , scammer that won't send you anything, or that will send you damaged item, or malfunctional one

the risk are in both cases, the difference is that one is faster to establish than the other

people also dont like dealing with the noise and heat the miner causes either. in addition, with cloud mining, people do not have to perform any sort of maintenance on miners, or worry in case a miner breaks.

Amph

legendary

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Quote from: Phildo on June 23, 2015, 10:23:44 PM

I'm not sure why you (or anyone) thinks that "pay someone else for hardware and electricity" is such a better idea than "pay for hardware and more for electricity."

you said it , it is because you pay more for electricity, and you don't need to have to do with all the hassles about shipping time, customs , scammer that won't send you anything, or that will send you damaged item, or malfunctional one

the risk are in both cases, the difference is that one is faster to establish than the other

Phildo

legendary

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I'm not sure why you (or anyone) thinks that "pay someone else for hardware and electricity" is such a better idea than "pay for hardware and more for electricity."

kiowarory

newbie

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Greetings and salutations,

Thanks for all the replies, I didn't expect so many thoughtful and redundant replies, though redundancy is a great thing IMO. To answer any possible questions, this question is a means to an end. The ,hopeful, end is a cloud mining service run by myself, and a good friend of mine. After poking around and reading (link to the sticky post about reigniting public interest in BTC goes here), soul searching, and a few days doing nothing a playing video games. I believe that cloud mining services are the best way to reignite public interest in BTC. As cloud mining would be an easy way for the average person to attempt mining, since there would be little start-up costs, no increase in personal utility bills, and no purchasing specialized hardware, but I digress. As for actual information about my service, there really isn't any yet. Currently it's an idea that might not even happen, as with many ideas. Speaking for the future though, we will most likely attempt to crowd-fund this project, but past that we have no plans. Though this forum will certainly be the first to receive word, should any of this come to fruition.

muhrohmat

sr. member

Activity: 252

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well the more you see the cloud mining services the more you get related to closing in 3 to 6 months the same bussniness soo cloud mining even the proof of block find does no gives you a secure future bussiness investment into the users of cloud mining maybe just the 49% that cex.io have makes them a bit better but i lost money there last 2 yers not entering in none like subStrata said

subSTRATA

legendary

Activity: 1288

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:^)

Quote from: adzino on June 22, 2015, 02:18:24 PM

Quote from: kiowarory on June 20, 2015, 04:57:21 PM

Greetings and salutations,

From what I understand in this corner of the internet, a majority of bitcoin miners and frequenters think that cloud mining services are a scam, and are not to be trusted. My question to you, the bitcoin loyal masses, is "what could a cloud mining service do to make them seem more legitimate in your eyes?"

Not being anoymous and being transparent. Companies who keep their owners hidden are shady and doesnot look legit. Find out everything about the owners, if they appear in public their hosting website is mostly be legitimate. Even a video proof of the mining rigs help.

It's actually hard to get a profit from cloud mining by the way.

even if the owners of the operations come forth, it doesnt guarantee that an operation is legitimate; lets take GAW for example, im pretty sure little explanation is needed. But, your first point is very right: cloud mining operations that tend to try and keep the owner's identity and whatever else information they can hidden are usually ponzis, one of the points made in the ponzi risk assessment thread: https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387

adzino

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Quote from: kiowarory on June 20, 2015, 04:57:21 PM

Greetings and salutations,

From what I understand in this corner of the internet, a majority of bitcoin miners and frequenters think that cloud mining services are a scam, and are not to be trusted. My question to you, the bitcoin loyal masses, is "what could a cloud mining service do to make them seem more legitimate in your eyes?"

Not being anoymous and being transparent. Companies who keep their owners hidden are shady and doesnot look legit. Find out everything about the owners, if they appear in public their hosting website is mostly be legitimate. Even a video proof of the mining rigs help.

It's actually hard to get a profit from cloud mining by the way.

dezoel

legendary

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Quote from: DevOfDev on June 22, 2015, 07:51:50 AM

you can see HAOBTC, GENESISMINING , BITCOINCLOUDSERVICE (SCAM)
i see this company see like real

my feeling say HAOBTCis real
i can see pict about her mining her live in 3month you can learn from his thread

how do you know that the pictures is real?
bitcoincloudservice have a pict too, but now they are scam... :?

avatar_kiyoshi

legendary

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Quote from: b-trading on June 21, 2015, 11:55:05 PM

how about cex.io many people said it is legit...but i dont know about the profit if we have GHS from there

AFAIK they closed for mining right? Because they think is not profitable anymore. Cmiiw.
Cex.io is good place for trade ghs-btc.

ObscureBean

legendary

Activity: 1148

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I know of a few cloud mining websites where nothing is known about the owners, no names, no photos. I certainly wouldn't feel comfortable investing in mining operations like these. I'd want to know who I'm dealing with and it would have to be a registered business.

DevOfDev

newbie

Activity: 52

Merit: 0

you can see HAOBTC, GENESISMINING , BITCOINCLOUDSERVICE (SCAM)
i see this company see like real

my feeling say HAOBTCis real
i can see pict about her mining her live in 3month you can learn from his thread

scat

sr. member

Activity: 350

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Scat The Billionaire

Quote from: b-trading on June 21, 2015, 11:55:05 PM

how about cex.io many people said it is legit...but i dont know about the profit if we have GHS from there

Cex.io was the only cloudmining that makes sense,
Its proven by the profit calculate that people will never get profit if just had a little GHS, even now if you have thousand GHS there, it will make you on negative balance.
Thats why almost all cloudmining services ended scam, because cloud mining will never give you a profit.

Phildo

legendary

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Quote from: Amph on June 22, 2015, 04:16:35 AM

Quote from: b-trading on June 21, 2015, 11:55:05 PM

how about cex.io many people said it is legit...but i dont know about the profit if we have GHS from there

their profit is a joke, because their maintanance fee is too high, you can't roi ever, if more than 50% of your income will be used for that

too bad because it look really legit and professional

why too bad?

Electricity and hardware cost money. Bitcoin mining takes actual work. You can pick one, legitimacy or "profit." If you could have both no one would be renting you their miners. So you can get what you pay for or jump into a ponzi and hope it lasts (it won't).

subSTRATA

legendary

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:^)

Quote from: Amph on June 22, 2015, 04:16:35 AM

Quote from: b-trading on June 21, 2015, 11:55:05 PM

how about cex.io many people said it is legit...but i dont know about the profit if we have GHS from there

their profit is a joke, because their maintanance fee is too high, you can't roi ever, if more than 50% of your income will be used for that

too bad because it look really legit and professional

cex.io had the highest maintenance fees of all the cloud mining services, enough that mining became unprofitable hence why they shut down their miners. as far as legitimacy goes, bitfury is partnered with bit-x, and bitfury has a good portion of the hashing power on the network; id say its pretty legitimate.

dezoel

legendary

Activity: 2044

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Leading Crypto Sports Betting & Casino Platform

Cloudmining will be legitimate if they have any proof of their mining activity, such as primary bitcoin address ( for payouts ), company address, owner, and their miner.

Amph

legendary

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Quote from: b-trading on June 21, 2015, 11:55:05 PM

how about cex.io many people said it is legit...but i dont know about the profit if we have GHS from there

their profit is a joke, because their maintanance fee is too high, you can't roi ever, if more than 50% of your income will be used for that

too bad because it look really legit and professional

trinaldao

copper member

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Post your ann & bounty just contact me

Quote from: kiowarory on June 20, 2015, 04:57:21 PM

Greetings and salutations,

From what I understand in this corner of the internet, a majority of bitcoin miners and frequenters think that cloud mining services are a scam, and are not to be trusted. My question to you, the bitcoin loyal masses, is "what could a cloud mining service do to make them seem more legitimate in your eyes?"

hemmm are you want to survey how to make the original cloudmining fake to be see real ??

sikkan

sr. member

Activity: 504

Merit: 250

cex.io is legit,but profit from mining there is gone. fees are too high.

but as most ppl already said, any cloud service MUST have transparency. How hard can it be to show the address and the blocks found by their supposed hardware if youre legit?

b-trading

sr. member

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how about cex.io many people said it is legit...but i dont know about the profit if we have GHS from there

bitnanigans

sr. member

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Here's what I would need to see before I invest in any cloud mining service:

- Names and photos of owners and/or employees
- Video proof of mining hardware (photos can be easily photoshopped)
- Physical address/location of company and mining hardware publicly visible

Been burned a few times, so I tend to steer clear of any cloud mining service at this point.

Topic: Cloud Mining Service Legitimacy (Read 1221 times)