Topic: Cloud Mining Viable in 2017? - page 2. (Read 6766 times)
Cloud mining has never been viable since each gh/s of mining power you buy has the cost of electricity plus other fees attached to it. Just normal mining is difficult, therefore, cloud mining is a waste of time, especially if you invest in that little hashrate. Be careful of which cloud mining sites you use if you decide to go into cloud mining, 9/10 of them are ponzi schemes that call themselves cloud mining sites. If you want to get into mining, then buy the equipment on your own and run your mining operation from somewhere where you wont have to pay for electricity (like work).
Who runs the one from hashnet?
Isn't that the one who is running as a possible scam now? Genesis mining I think they mentioned not giving payouts all the sudden or something along those lines.
I would think maybe hashflare just might get the same idea in their head and do the exact same thing to their customers since bitcoin's price is soaring off the charts and usually that makes people think about running with the dollar signs in their eyes blinding them.
And with the difficulty level increasing with mining bitcoin along with the price increase, that just might cause the perfect storm to happen to all these so called cloud mining sites.
It would just not equal out on paper for them to continue on with their offering as a viable business structure that doesn't pay to do in the end for them.
Isn't that the one who is running as a possible scam now? Genesis mining I think they mentioned not giving payouts all the sudden or something along those lines.
I would think maybe hashflare just might get the same idea in their head and do the exact same thing to their customers since bitcoin's price is soaring off the charts and usually that makes people think about running with the dollar signs in their eyes blinding them.
And with the difficulty level increasing with mining bitcoin along with the price increase, that just might cause the perfect storm to happen to all these so called cloud mining sites.
It would just not equal out on paper for them to continue on with their offering as a viable business structure that doesn't pay to do in the end for them.
When people say that it is not worth investing in cloud mining, they are not lying, and it's better to learn now than to learn the hard way.
Theoretically the ROI is possible in a year or two on paper but in practical it's not. You can't make a profit with cloud mining, it was good for only the early birds and those who made profit are the lucky people, now it's not like that so invest with caution.
When people say that it is not worth investing in cloud mining, they are not lying, and it's better to learn now than to learn the hard way.
I use this website to monitor cloud mining: http://investmonitor.xyz
I noticed quite a few cloud mining sites just appearing.
I'm afraid there are only few legit cloud mining sites.
The ViaBTC.com is one of them, but most are NOT legit! Beware!
I noticed quite a few cloud mining sites just appearing.
Just noticed that even ViaBtc has one available from their site.
They are a mining pool but offer this service to customers as well.
So it is quite a lucrative business for them to have since it takes no effort on their part to run it since it is just a matter of putting up a page on their website and put up prices for something they are already receiving profit from in the beginning.
Just noticed that even ViaBtc has one available from their site.
They are a mining pool but offer this service to customers as well.
So it is quite a lucrative business for them to have since it takes no effort on their part to run it since it is just a matter of putting up a page on their website and put up prices for something they are already receiving profit from in the beginning.
Hello all,
The last years I have been trading BTC and Litecoin with 1:20 and 1:50 leverage on broker sites like Plus500 and Avatrade. Yesterday, for the first time I decided to buy some BTC directly via an exchange and some Ethereum. I now have a mere 0.4 BTC there and 4.0 Ethereum. The entire night I have been awake to read all about Bitcoin (price predictions) and cryptocurrencies on this forum and on other bitcoin related websites. I also made a bitcoin wallet at blockchain.info and set it up for 2FA. Anyway, as I am really interested in investing more in bitcoin I was wondering if cloud mining, in this case by a company called genesis mining, is viable? They offer lifetime 200 GH/S for a onetime payment of $30 and then $0.00028 per GH/S per day. I tried using the calculator at castrox.com, that says I will ROI about september this year if price stays the same. If price increases, which I am thinking, is cloud mining then a good way of investing? So far my plan was to do the following: Split 70/30 budget BTC Ethereum to own myself directly and then every month invest $30 or upgrade about $30 in Ghash via genesis mining. What do you guys think, viable or not anno 2017?
PS. I know my initial investment is far from 70/30 devided BTC/ethereum but that was just first deposit, will maintain 70/30 thru the year.
The last years I have been trading BTC and Litecoin with 1:20 and 1:50 leverage on broker sites like Plus500 and Avatrade. Yesterday, for the first time I decided to buy some BTC directly via an exchange and some Ethereum. I now have a mere 0.4 BTC there and 4.0 Ethereum. The entire night I have been awake to read all about Bitcoin (price predictions) and cryptocurrencies on this forum and on other bitcoin related websites. I also made a bitcoin wallet at blockchain.info and set it up for 2FA. Anyway, as I am really interested in investing more in bitcoin I was wondering if cloud mining, in this case by a company called genesis mining, is viable? They offer lifetime 200 GH/S for a onetime payment of $30 and then $0.00028 per GH/S per day. I tried using the calculator at castrox.com, that says I will ROI about september this year if price stays the same. If price increases, which I am thinking, is cloud mining then a good way of investing? So far my plan was to do the following: Split 70/30 budget BTC Ethereum to own myself directly and then every month invest $30 or upgrade about $30 in Ghash via genesis mining. What do you guys think, viable or not anno 2017?
PS. I know my initial investment is far from 70/30 devided BTC/ethereum but that was just first deposit, will maintain 70/30 thru the year.
i think genesis mining is the one of the legit cloud mining i have seen this far, but you need to thinking about how long you can get your ROI because as far as i know, genesis mining is need too long to gets ROI, almost in a year before ROI. cloud mining is profitable IF you have big hashrate so you can mining big amount of the coins, but for small hashrate, i don't think that you can get profitable in short term. your plan is sound interesting to do but how long you want to make invest? this is important because you don't want to make invest for every month, don't you? its not good to deposit in every month unless you have free bitcoin in your wallet so if somehow the site is scam, you don't have to regret it.
The amount of time to take to Roi has always been the issue with cloud mining and the long term financial goals of those who put any bitcoin and money into those companies that claim you will Roi with them before your contract ends.
Usually they calculate it out so you have to renew it so to make anything with using them from the end of that contract up until your next renewal date if anything at all.
Usually they calculate it out so you have to renew it so to make anything with using them from the end of that contract up until your next renewal date if anything at all.
Genesis Mining and Hashflare. For the price these company sells their contracts you can ROI in almost a year, without difficulty change and change of bitcoin exchange rate. Due to difficulty change it's much longer, so ROI is even more difficult to reach, if reached at all.
So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
You should read some of the statements from their real users. One guy bought a 2 year contract with GM and got it terminated by the company because they said it wasn't profitable anymore. That's how your ROI in a year works with these companies. You buy a lifetime contract and it suddenly ends after a year or 2, right when it could start being profitable for you. So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
2 years are far to wait and surely if we going to invest that in other platform we will possibly earn more rather than investing at genisis mining, they are not profitable now and that business is surely running as ponzi. So before investing on it its truly be a good observant so that they will not received some serious problem in future and they should remember that cloudmining investment option is down for now and not going to be profitable anymore.
I also don't believe in cloud mining, I really think they are all just ponzis waiting to pop and run. It's quite easy to lie to the customers that they are really offering legit miners that they can mine on. Not to mention, they are just giving you a crap small amount of interests per day and it would not even beat inflation at the end of the year.
Theres an open source of ideas where we can read more info about cloudminings aswell as mining using a hardware and the only thing we need to do is to search for liable sources on how is the state of that whatso called business. But for me i truly dont believe on owner/referral geeks people who tells that we can earn with them by investing at those cloudmining sites since i know and educated well on how awfull what cloudminings have for now.
as of today at hashnest for me anyway lifetime contract
2017-03-02 20:48:56 UTC -1.19657056 BTC 12,500 GH ANTS9 Trade Purchase Miner
2017-03-13 04:20:34 UTC -0.2891895 BTC 2,774 GH ANTS9 Trade Purchase Miner
HashPower(GHS)
15,274
Costs(BTC)
1.48576006
Payout Total(BTC)
0.07405493
Maintenance(BTC)
0.02203234
Right now could sell all my hash for Total: 1.66486600 ฿
2017-03-02 20:48:56 UTC -1.19657056 BTC 12,500 GH ANTS9 Trade Purchase Miner
2017-03-13 04:20:34 UTC -0.2891895 BTC 2,774 GH ANTS9 Trade Purchase Miner
HashPower(GHS)
15,274
Costs(BTC)
1.48576006
Payout Total(BTC)
0.07405493
Maintenance(BTC)
0.02203234
Right now could sell all my hash for Total: 1.66486600 ฿
Although bitcoin price keep rise but i still with my opinion, you will hard to get profit by invest your money in cloud mining and would be better do you using for trading bitcoin.
Hello all,
The last years I have been trading BTC and Litecoin with 1:20 and 1:50 leverage on broker sites like Plus500 and Avatrade. Yesterday, for the first time I decided to buy some BTC directly via an exchange and some Ethereum. I now have a mere 0.4 BTC there and 4.0 Ethereum. The entire night I have been awake to read all about Bitcoin (price predictions) and cryptocurrencies on this forum and on other bitcoin related websites. I also made a bitcoin wallet at blockchain.info and set it up for 2FA. Anyway, as I am really interested in investing more in bitcoin I was wondering if cloud mining, in this case by a company called genesis mining, is viable? They offer lifetime 200 GH/S for a onetime payment of $30 and then $0.00028 per GH/S per day. I tried using the calculator at castrox.com, that says I will ROI about september this year if price stays the same. If price increases, which I am thinking, is cloud mining then a good way of investing? So far my plan was to do the following: Split 70/30 budget BTC Ethereum to own myself directly and then every month invest $30 or upgrade about $30 in Ghash via genesis mining. What do you guys think, viable or not anno 2017?
PS. I know my initial investment is far from 70/30 devided BTC/ethereum but that was just first deposit, will maintain 70/30 thru the year.
The last years I have been trading BTC and Litecoin with 1:20 and 1:50 leverage on broker sites like Plus500 and Avatrade. Yesterday, for the first time I decided to buy some BTC directly via an exchange and some Ethereum. I now have a mere 0.4 BTC there and 4.0 Ethereum. The entire night I have been awake to read all about Bitcoin (price predictions) and cryptocurrencies on this forum and on other bitcoin related websites. I also made a bitcoin wallet at blockchain.info and set it up for 2FA. Anyway, as I am really interested in investing more in bitcoin I was wondering if cloud mining, in this case by a company called genesis mining, is viable? They offer lifetime 200 GH/S for a onetime payment of $30 and then $0.00028 per GH/S per day. I tried using the calculator at castrox.com, that says I will ROI about september this year if price stays the same. If price increases, which I am thinking, is cloud mining then a good way of investing? So far my plan was to do the following: Split 70/30 budget BTC Ethereum to own myself directly and then every month invest $30 or upgrade about $30 in Ghash via genesis mining. What do you guys think, viable or not anno 2017?
PS. I know my initial investment is far from 70/30 devided BTC/ethereum but that was just first deposit, will maintain 70/30 thru the year.
This topic has been tackled many times here in the forum and I always have the same answer/response to this. From my experience, cloud mining is not viable today even with the increase price of BTC. It is just a ponzi scheme that's been applied to the bitcoin community. People who invested their money will only get their money back if new people pour their money as an investment. It's just a cycle and when people stopped pouring in their money, the cloud mining "business" will just stop leaving their investors without any return of their investments.
You can earn bitcoin in many different ways and you can have it without buying it using fiat. It is still better to store your bitcoin for long-term profitability than putting it in a cloud mining "business".
I am sure this topic has been dealt with several times on the forum several times and it has been generally accepted that anything that relates to cloud mining is scam. Its either it will take forever for you to recoup your investment, or you just wake up one day and find out the site is no longer working or something that will just be intepreted that your fund is gone.
Mining on the hash nest clouds almost 4 months now and will continue to do so until I get my ROI, I've recommended them to some rich guy and he invested around $25K now after 14 weeks he has earned more than $20K and after 2 or 3 more weeks he will start to gain pure profit.
As long as you invest a large amount and keep increasing your hash power you can somehow profit but the competition is getting so crazy recently.
As long as you invest a large amount and keep increasing your hash power you can somehow profit but the competition is getting so crazy recently.
Genesis Mining and Hashflare. For the price these company sells their contracts you can ROI in almost a year, without difficulty change and change of bitcoin exchange rate. Due to difficulty change it's much longer, so ROI is even more difficult to reach, if reached at all.
So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
You should read some of the statements from their real users. One guy bought a 2 year contract with GM and got it terminated by the company because they said it wasn't profitable anymore. That's how your ROI in a year works with these companies. You buy a lifetime contract and it suddenly ends after a year or 2, right when it could start being profitable for you. So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
That's why I never suggest to buy such contract directly.
I buy from people who are mostly disappointed in the contract, for a price I guess I am reaching ROI in a year. And I do look to the contract (GM changed the prices for maintenance/electricity several times, so older contracts are even less attractive) before making my decision.
And I do not know how they will manage, but both GM and Hashflare's current lifetime contracts mention that the contract will be reinstated when it becomes profitable again.
At this time it's going well but I know that's no guarantee.
I also don't believe in cloud mining, I really think they are all just ponzis waiting to pop and run. It's quite easy to lie to the customers that they are really offering legit miners that they can mine on. Not to mention, they are just giving you a crap small amount of interests per day and it would not even beat inflation at the end of the year.
First: I agree that most "cloud miners" aren't mining at all (=ponzis), as mentioned before. However there are few real cloudminers - only even they are with little chance for profit and when you have profit it is a very small one.
What inflation? When you compare hodling and (cloud) mining, when you reached ROI every satoshi you earn more is profit.
When you buy 1 BTC after waiting it is still 1 BTC
When you buy cloud mining contracts and you reach ROI (Yes, little chance and/or after long waiting) and make a satoschi profit you have 1.00000001 BTC
But you are absolutely right that there are much better/faster/safer ways to earn more with that 1 BTC.
Genesis Mining and Hashflare. For the price these company sells their contracts you can ROI in almost a year, without difficulty change and change of bitcoin exchange rate. Due to difficulty change it's much longer, so ROI is even more difficult to reach, if reached at all.
So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
You should read some of the statements from their real users. One guy bought a 2 year contract with GM and got it terminated by the company because they said it wasn't profitable anymore. That's how your ROI in a year works with these companies. You buy a lifetime contract and it suddenly ends after a year or 2, right when it could start being profitable for you. So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
2 years are far to wait and surely if we going to invest that in other platform we will possibly earn more rather than investing at genisis mining, they are not profitable now and that business is surely running as ponzi. So before investing on it its truly be a good observant so that they will not received some serious problem in future and they should remember that cloudmining investment option is down for now and not going to be profitable anymore.
I also don't believe in cloud mining, I really think they are all just ponzis waiting to pop and run. It's quite easy to lie to the customers that they are really offering legit miners that they can mine on. Not to mention, they are just giving you a crap small amount of interests per day and it would not even beat inflation at the end of the year.
Genesis Mining and Hashflare. For the price these company sells their contracts you can ROI in almost a year, without difficulty change and change of bitcoin exchange rate. Due to difficulty change it's much longer, so ROI is even more difficult to reach, if reached at all.
So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
You should read some of the statements from their real users. One guy bought a 2 year contract with GM and got it terminated by the company because they said it wasn't profitable anymore. That's how your ROI in a year works with these companies. You buy a lifetime contract and it suddenly ends after a year or 2, right when it could start being profitable for you. So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
2 years are far to wait and surely if we going to invest that in other platform we will possibly earn more rather than investing at genisis mining, they are not profitable now and that business is surely running as ponzi. So before investing on it its truly be a good observant so that they will not received some serious problem in future and they should remember that cloudmining investment option is down for now and not going to be profitable anymore.
Genesis Mining and Hashflare. For the price these company sells their contracts you can ROI in almost a year, without difficulty change and change of bitcoin exchange rate. Due to difficulty change it's much longer, so ROI is even more difficult to reach, if reached at all.
So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
You should read some of the statements from their real users. One guy bought a 2 year contract with GM and got it terminated by the company because they said it wasn't profitable anymore. That's how your ROI in a year works with these companies. You buy a lifetime contract and it suddenly ends after a year or 2, right when it could start being profitable for you. So for me ROI (under mentioned ideal circumstances) must be held in less then half a year, then -when real circumstances like difficulty changes are considered- ROI is reachable in less then a year.
Cloud mining will not be viable this year 2017 because it has lower profit compared with other optional sources like with trading. Most of mining reputations lowered due to some of the negative feedbacks on ponzi schemes, that pertains to profit scamming by different mining investments; that's why it turned out preventive by other people to invest by those reasons.
Mate do not fall into something like this, there is no such as easy way to earn bitcoin. Do not let your eyes eat those glittering amount in front of your screen be open that it might be a big scam. Most cloud mining are only scams and nothing else.
I know. The hard way.
That's why I did quite some research, and the outcome:
1) 99,99% of cloudminers aren't cloudminers at all.
2) There are 3 sites I'm aware off that seems legit, so are real cloud miners. For every one of them there are negative reports, but AFAIK they are really mining. The main negative is the long ROI, which is hard to reach due to difficulty rising. When combined with a pricedrop it can be stopped very soon, even long before ROI. That's why I think you never should go into these contracts for the price they offer, or at least not without knowing this: ROI may never be reached.
Those are:
Genesis Mining
Hashflare
Hashnest
I guess there are others, but they are (very) small.
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