Topic: Is cloud mining reliable? (Read 1753 times)

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 a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

this is not about renting but about cloud, if you reach roi, you are good to continue and take pure profit, renting on the other hand will never roi, if from who you rent knows everything about crypto and sets a non-competitive price(but there are exceptions)

Cloud mining is either renting miners with a different name or a pure ponzi.

josephno1

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Scrypt.cc is most likely a ponzi as they have no proof that they mine. In addition their link to their forums is dead. Also whenever I contact their customer support, my ticket always happens to magically get deleted. I would trust HashNest or NiceHash for mining and both of them are endorsed by ASIC chip manufactures and HashNest is owned by bitmain who also sells asic miners and has a mining pool

Amph

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Quote from: crazyivan on May 01, 2015, 04:09:10 PM

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 a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

this is not about renting but about cloud, if you reach roi, you are good to continue and take pure profit, renting on the other hand will never roi, if from who you rent knows everything about crypto and sets a non-competitive price(but there are exceptions)

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?

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 a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

Cause by renting hash ASIC manufacturers reduce the risk. If they sell us hash now, they receive money now, including markup, without being affected by price volatility, difficulty growth, etc.
In other words, they switch variable risk elements to the person who rents hash. Lots of other industries do this.

Do other industries do it with literal money printing machines?.

Any reason someone has to rent or sell you a machine is a reason that you shouldn't buy it. There's no way for both people to win. You will lose on the transaction unless you get out more coins than you put in (or more coins than you could have bought when you started). All the one's that have given more coins since the first asics have been shown to be scams. If you feel like burning electricity go for it, if you feel like doing the work to pass your space heater off to someone else on a site that lets you resell the hash go for it, there can't be a way for both people to profit off a money making machine that requires no work.

crazyivan

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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?

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 a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

Cause by renting hash ASIC manufacturers reduce the risk. If they sell us hash now, they receive money now, including markup, without being affected by price volatility, difficulty growth, etc.
In other words, they switch variable risk elements to the person who rents hash. Lots of other industries do this.

flyingplows

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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?

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 a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

The thing is that some people still rent them. While there is a demand there would also be a supply. And some people rent a miner for a POW period of the coin that they believe in. In this case they don't need a miner long term and they ''need'' it more than the owner during that special period Wink

Phildo

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Quote from: flyingplows on April 30, 2015, 05:12:05 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 a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

coolcoinz

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Quote from: thebenjamincode on April 30, 2015, 04:06:43 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: crazyivan on April 30, 2015, 08:32:34 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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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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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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