Is cloud mining still profitable? | Bitcointalksearch.org

ysle11

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dsly

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Quote from: Berau on March 10, 2015, 12:27:15 AM

Quote from: ToQcHista on March 08, 2015, 12:50:43 AM

your will use this mining website > https://bit-x.com/

Bit-x is operated by marcotheminer though, who is subjected to constant controversy.

I wouldn't mind though putting some of my spare cash into it though.

BIT-x is not operated by marco. Its only the campaign that is managed by him. The exchange/mining site bit-x is run by another company.

tspacepilot

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Quote from: Berau on March 10, 2015, 12:27:15 AM

Quote from: ToQcHista on March 08, 2015, 12:50:43 AM

your will use this mining website > https://bit-x.com/

Bit-x is operated by marcotheminer though, who is subjected to constant controversy.

I wouldn't mind though putting some of my spare cash into it though.

Just some clarifications/corrections:

First, I think that bit-x is an exchange, not a cloud mining service.

Second, I'm pretty sure that marcotheminer is simply managing their signature campaign, not operating the company.

Berau

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Quote from: ToQcHista on March 08, 2015, 12:50:43 AM

your will use this mining website > https://bit-x.com/

Bit-x is operated by marcotheminer though, who is subjected to constant controversy.

I wouldn't mind though putting some of my spare cash into it though.

flyingplows

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Quote from: ToQcHista on March 08, 2015, 12:57:52 AM

Quote from: finlon on March 08, 2015, 12:53:34 AM

Quote from: ToQcHista on March 08, 2015, 12:50:43 AM

Hashnet.

bitx better .

they are both good, but if you are not sure, i would suggest bit-x also, because their website is more clear and overall everything is easier to quickly understand. while hashnest website seems to be translated from chinese language, at least for me it is sometimes a bit confusing to choose between the options and so on. so my advise would be to start at bit-x and then when you feel more comfortable and want to diversify you can expand to hashnest, havelock or some others... although dont know what others after amhash fiasco... well.. genesis-mining maybe, but the roi would be hard there believe me Roll Eyes

CrackedLogic

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Quote from: Phildo on March 08, 2015, 08:18:43 AM

Quote from: Berau on March 07, 2015, 10:07:19 PM

Quote from: jacktheking on March 07, 2015, 09:49:48 PM

No. Cloud mining is not profitable now. Unless the Bitcoin price shoot up, the electricity and maintenance gonna cost 90% of what you mine in the cloud. In addition, most of the cloud mining site are ponzi based.

I don't think cloud mining uses up electricity, did you just mean maintenance?

where do the coins come from if nothing is plugged in?

It's a ponzi which uses users' deposits to share it amongst others I'm order to return a profit. They would need a constant flow of people investing

Phildo

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Quote from: Berau on March 07, 2015, 10:07:19 PM

Quote from: jacktheking on March 07, 2015, 09:49:48 PM

No. Cloud mining is not profitable now. Unless the Bitcoin price shoot up, the electricity and maintenance gonna cost 90% of what you mine in the cloud. In addition, most of the cloud mining site are ponzi based.

I don't think cloud mining uses up electricity, did you just mean maintenance?

where do the coins come from if nothing is plugged in?

ToQcHista

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ToQcHista

Quote from: finlon on March 08, 2015, 12:53:34 AM

Quote from: ToQcHista on March 08, 2015, 12:50:43 AM

Hashnet.

bitx better .

finlon

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Quote from: ToQcHista on March 08, 2015, 12:50:43 AM

your will use this mining website > https://bit-x.com/

Yeah seems thats the only reputed site running for now. Apart from that the only other site I would invest in is Hashnet.

ToQcHista

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ToQcHista

your will use this mining website > https://bit-x.com/

CrackedLogic

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Quote from: Monetizer on March 07, 2015, 08:20:09 PM

Has any of you guys ever made profit through these sites? I made a little through buying and selling on sites like gh.io but never made anything from holding onto the mining contract if you will.

I actually invested in PBmining early and escaped with a whopping 0.01btc profit.

Berau

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Quote from: jacktheking on March 07, 2015, 09:49:48 PM

No. Cloud mining is not profitable now. Unless the Bitcoin price shoot up, the electricity and maintenance gonna cost 90% of what you mine in the cloud. In addition, most of the cloud mining site are ponzi based.

I don't think cloud mining uses up electricity, did you just mean maintenance?

jacktheking

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No. Cloud mining is not profitable now. Unless the Bitcoin price shoot up, the electricity and maintenance gonna cost 90% of what you mine in the cloud. In addition, most of the cloud mining site are ponzi based.

Berau

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Quote from: Phildo on March 07, 2015, 09:44:45 PM

Quote from: Monetizer on March 07, 2015, 08:20:09 PM

Has any of you guys ever made profit through these sites? I made a little through buying and selling on sites like gh.io but never made anything from holding onto the mining contract if you will.

If someone had a money making machine that would generate x dollars/paycoins/whatever why would they rent it to you for less than that?

Lol, what are paycoins? Huh

Another altcoin?

Phildo

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Quote from: Monetizer on March 07, 2015, 08:20:09 PM

Has any of you guys ever made profit through these sites? I made a little through buying and selling on sites like gh.io but never made anything from holding onto the mining contract if you will.

If someone had a money making machine that would generate x dollars/paycoins/whatever why would they rent it to you for less than that?

Berau

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Quote from: Monetizer on March 07, 2015, 08:20:09 PM

Has any of you guys ever made profit through these sites? I made a little through buying and selling on sites like gh.io but never made anything from holding onto the mining contract if you will.

I tried cex.io with less than BTC0.05, within a few days of purchase of GH/S, my btc balance went negative from the maintenance fees.

But was damn lucky to sell that gh/s for something like 0.07, due to market fluctuations.

Monetizer

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Has any of you guys ever made profit through these sites? I made a little through buying and selling on sites like gh.io but never made anything from holding onto the mining contract if you will.

Syke

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Quote from: Berau on March 07, 2015, 06:34:42 PM

How can you prove that "my coin is freshly dug"?

Look at this block:

https://blockchain.info/block-index/814643

Under Transactions you see:

Quote

No Inputs (Newly Generated Coins) ->

That's how you know those coins were first mined.

Phildo

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If they are legit they really shouldn't have a problem sending you links on the blockchain to their payouts and showing you that they are legit. That's the whole point of crypto, everything is written down and can't be faked. If they can't show it to you, why trust them?

Berau

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Quote from: tspacepilot on March 07, 2015, 07:31:10 PM

Quote from: Berau on March 07, 2015, 07:27:51 PM

Quote from: tspacepilot on March 07, 2015, 07:22:42 PM

Quote from: CrackedLogic on March 07, 2015, 05:48:02 PM

Quote from: Berau on March 07, 2015, 05:15:53 PM

Quote from: xstr8guy on March 07, 2015, 03:33:48 PM

From Google...

Quote

A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

Eventually, Ponzis always collapse. Early investors may actually profit but later investors get seriously screwed.

So how can I know if a cloud mining company is actually mining or it's just a scam?

I.e. Is there a site that I can check the GH/S of a pool?

You can't. If they advertise that they use equipment from a certain provider you can ask the provider to approve the cloud miner company to see if they actually did order the miners.

Quote

Is there a site that I can check the GH/S of a pool?

Not that I'm aware of but there's this https://blockchain.info/blocks

What about this?

https://en.bitcoin.it/wiki/Comparison_of_mining_pools

Shows the TH/s of most pools. Is that what he's looking for? Maybe I missed something.

I'm looking for how I can check which address generated the bitcoin, so that I can check if a site is legit, or just a ponzi.

Thanks for the kind advice guys.

So you want to check, for a given block, which computer on the network found the block? Or you want to do this for all blocks?

There's a difference between the IP address of a computer which solved a block and the address where the block reward went. Are you talking about mining or simply sending a transaction. Sorry it's not clear to me from your post.

No like to check if a site is legit mining or is just paying out from what you sent them, so I need to check whether there's a newly created bitcoin block related to the payout address, or it's just from other people's sent bitcoins. Sorry for being unclear.

Topic: Is cloud mining still profitable? (Read 2630 times)