Is cloud mining reliable? - page 2. | Bitcointalksearch.org

coolcoinz

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Quote from: flyingplows on April 30, 2015, 04:12:05 AM

Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

If you really want to invest go for trustworthy operators like Hashnest or Bit-x. Don't invest in scrypt.cc because it is very likely that it's a ponzi and don't invest in genesis-mining because it is unprofitable compared to Hashnest or Bit-x .

Wasn't that what they said about amhash and ltcgear?
There are no trustworthy operators in cloud mining.

Amph

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Quote from: Phildo on April 30, 2015, 06:33:12 AM

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good at it

Phildo

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Quote from: crazyivan on April 30, 2015, 07:32:34 AM

Quote from: Phildo on April 30, 2015, 06:33:12 AM

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

Not true, I ve been playing with some more prominent cloud mining websites and I can confirm you can make money with cloud mining. But you do need to make a decent investment and constantly reinvest large chunk of your profit. ROI is between 6-8 months, if you are smart.

Buying coins is OK but we re trying to develop and industry here. Buying and holding brings nothing to it.

Investing in ponzis and burning electricity doesn't do much either. It won't work until there's something to do besides making and selling coins. You may have lucked out and not got burned by any scams, but any reason for someone to sell legit cloud mining is a reason for you not to buy it, so the business makes no sense.

crazyivan

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Quote from: Phildo on April 30, 2015, 06:33:12 AM

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

Not true, I ve been playing with some more prominent cloud mining websites and I can confirm you can make money with cloud mining. But you do need to make a decent investment and constantly reinvest large chunk of your profit. ROI is between 6-8 months, if you are smart.

Buying coins is OK but we re trying to develop and industry here. Buying and holding brings nothing to it.

Scamalert

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Quote from: Phildo on April 30, 2015, 06:33:12 AM

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

Yes, excactly. It makes absolutly no sense. Because payment is in bitcoin, so why do you want to give your bitcoins away and potentially (if you are lucky) get the same amount of bitcoins back, but most likely less. Mining made sense when you could by GPU's with cash, it was a way to convert fiat and electricity into bitcoin. But cloud mining, it is the same as throwing away coins.

Phildo

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Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

Bittings

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

Above posters are correct about cloud mining sites like scrypt.cc or genesis mining. I had also suffered ltcgear scam ( which was very professionally managed until break down).

However, you can try to rent a rig , mine your favourite coin and sell them. In this way you can do more reliable cloud mining but again is it profitable? Well, It totally depends market, volatility and volume of that coins( and also payment amount for rent and difficulty).

To sum up, even if you do latter , theres no such thing "easy profit" , you should follow and grab some good opportunities for coins. And even if you make such an effort , there is always risks to lose your funds in cloud mining. For me, I intented to second one(after big loss at ltcgear) , however I couldnt trust myself about being able to profit from it.

jdebunt

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Quote from: ?? on ??

Both legit & ponzi cloud mining aren't reliable

If you invest in legit cloud mining, it's very difficult to get profit before maintenance fee is higher than your daily earning
But, if you invest in ponzi cloud mining, the owner could run away before you get profit

That does sum it up nicely indeed. Cloud mining is just not worth the hassle, effort and money right now, in any capacity.

Scamalert

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Captain

I belive some of them are, I just looked at mintsy, it just launched.
It is made by the exhange cryptsy, which I consider reliable.
The problem is that is it not profitable.
Every calcluation I made, the mining contract would come out in the with a minus.
So why could mine?

crazyivan

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Quote from: favdesu on April 30, 2015, 04:36:52 AM

Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

scrypt.cc is most likely a Ponzi - so it's a gamble, you could always lose your money.

Genesis is probably legit but a big joke in terms of ROI.

So he should go with something in between, Hashnest or BIT-X.

favdesu

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

scrypt.cc is most likely a Ponzi - so it's a gamble, you could always lose your money.

Genesis is probably legit but a big joke in terms of ROI.

jdebunt

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Reliable, as in "will these services go down or experience major issues"? I think you're safe with Genesis Mining in that regard.

Reliable, as in "will I get an ROI and even make a profit"? Your best would be Scrypt.CC according to the charts, but as others have said, this could be a ponzi scheme waiting to collapse any minute now.

In fact, interest-bearing Bitcoin wallet services may seem more reliable than cloud mining right now. But that's a different matter entirely Wink

crazyivan

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

Define reliable? Is it profitable? Yes, it can be if you know what to do. Is it safe? Depends on the service you select.

flyingplows

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

If you really want to invest go for trustworthy operators like Hashnest or Bit-x. Don't invest in scrypt.cc because it is very likely that it's a ponzi and don't invest in genesis-mining because it is unprofitable compared to Hashnest or Bit-x .

Bicknellski

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

NO.

Josef27

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

Carefull with most of cloud mining, many of them offer mining service without real physical miner.
Also I suggest to buy Bitcoin instead rather than investing in "cloud mining" and waiting around 8-12 months or more to get a ROI. (Oftenly because the maintenance fee is actually eats up the earnings)

If you still want it check bit-x. I heard they are licensed cloud mining company, also exchanger
https://bitcointalksearch.org/topic/bit-xcom-exchange-btc-ltc-usd-eur-gbp-rub-bitcoin-debit-card-874312

thebenjamincode

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37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

Quote from: notlist3d on April 30, 2015, 03:10:34 AM

Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

Cloud mining is a hard game. There are just to many ponzi sites in the mix. Also stay away from scrypt it just is not a good investment right now.

I would only look at BTC cloud mining. And research the heck out of the site. If it sounds to good to be true do not buy there. Research on the forums aswell.

As far as worth it I suggest doing your own ROI math.

how about genesis mining? i've search the net and i quite liked the reviews, is it reliable to invest there?

notlist3d

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Quote from: thebenjamincode on April 30, 2015, 03:06:43 AM

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

Cloud mining is a hard game. There are just to many ponzi sites in the mix. Also stay away from scrypt it just is not a good investment right now.

I would only look at BTC cloud mining. And research the heck out of the site. If it sounds to good to be true do not buy there. Research on the forums aswell.

As far as worth it I suggest doing your own ROI math.

thebenjamincode

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Activity: 490

Merit: 500

37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

Hi i've been searching about cloudmining and would like to invest on it.

i came across genisis mining and scrypt.cc

can any of you guys please tell me if its worth it? and please tell me about your experience... thank you!

Topic: Is cloud mining reliable? - page 2. (Read 1767 times)