Topic: MinerGate Cloud mining (Read 35693 times)

My experience with MinerGate cloud mining real numbers :

Link to forum post: https://bitcointalksearch.org/topic/m.27263612

These numbers are from my contract with MInerGate is real numbers and will be updated weekly no spam or affiliate links !!!.
Also i recommend to avoid any recommendation that comes with an affiliate link !! they just try to earn money!

GL.

Wow, that is not much!

Beside the much too high maintanance (almost 50%   ) the result should be around 0,00014 before per TH/s before maintenance (AntPool numbers). So you should make more than 0,001 before maintenance with your over 7 TH/s.

My experience with Minergate Cloud Mining:

Price: $1094.41
Hash power: 7433.1021 GH/s
Daily Mining: $5.415463
Maintenance: $2.452924
Daily Income:  $2.962539 ( 0.00020618 BTC )

les than 3$ /day.... investing $1094.41

At the moment I'm not happy ... it should be at least double if we compare same TH/S with ViaBTC or Genesis.

I bought 100 GH/s contract Jan 2017, since the rise in price of BTC my profit has gone up, and the maintenance fees have stayed the same. Over the past 11 months I made 0.0085 BTC (so close to cashing it out) so I decided to reinvest it, I was able to get 700 GH/s contract, and I got my first payouts, and they are the same amount as the 100 GH/s contract........? Doesn't make sense right ? I think that this might be a scam, or at least not 100% truthful in their claims. Any BTC calculator comes up with dramatically different outcomes that the profit calculator on the Minergate site.

I am new Minergate cloud mining, need your help please.

As on Dec 9, 2017
I have 31.4 TH/s power on miner gate could mining just started few days days ago. I am only seeing my daily rewards averaging around 0.00109 BTC after daily maintenance costs ($10.4)

I also have a S9 (13 TH/s) running at home making around 0.0028 BTC (understand there electricity costs and maintenance involved).
Based on actuals for 31.4 TH/s of hash power, I should see at least 0.005 BTC per day after deducting maintains costs.

My fried currently running  1 TH/s on genesis-mining getting 0.00014941 BTC per day after maintenance costs.
At this rate for I should see around 0.004691474 {btc] for 31.4 TH/s

Not sure why I am getting only 1/4th to 1/5th of actual rewards. Anyone seen such a HUGE discrepancy, not sure if I misunderstood something or just got scammed?
 

Regarding your question my current understanding is
1)  Yes, it is written in FAQ.  This can change at any time as it happened in hashflare.
2)  I highly doubt it, but you never know.
3)  I don't think you can cancel any contracts.
4)  The maintenance fee is shown to you when you buy hashrate.
5)  No idea.  They make the rules.

From what I see from your statistics, your ROI should be much more than one year, possibly around two.  

In my opinion, minergate contracts are on the verge of a scam.  I have bought five small BTC contracts and I have noticed that the profit does not depend on the hashrate, but rather it is fixed such that you get ROI in exactly 365 days given fixed difficulty.  Since difficulty changes, your profit decreases every day, so, in the end I don't know if you ever get your investment back.  Notice that minergate only saves your daily profit in dollars, not BTC, which is misleading.

I have posted my observations here
https://bitcointalksearch.org/topic/minergate-cloud-contracts-have-raised-my-suspicion-2511076

Since you have older contracts, can you either confirm or disprove my claims?  Also, how has your daily profit in BTC has changed over time?  Does it follow the mining difficulty, or it follows an internal minergate algorithm that fixes ROI for all contracts to a fixed time?

Have you checked with the support team which will you able to give the assistance for this issue. I found that Genesis, Hashflare and minergate are best in cloud platform but I see that now we are finding issues in minergate as well means that is won't be advisable to have the contract to mine the any coins with the any cloud mining sites.
I found that some people said their mining account got locked or contract disappear.

My cloudmining cotract just disapeared. Does anyone has this problems?

Currently the Minergate Cloud mining contracts are doing well.
I have 14 contracts paying $14.00
I have $5103.00 invested in Minergate contracts.

What I have not been able to find is the specifications about the contract agreement. Like:
1:) Am I involved for life?
2:) Do I get my investment back when Minergate decides the contract is no longer profitable?
3:) Can I withdrawal my investment from a previously purchased contract when I want cancel?
4:) Can a potential contract display the maintenance fee up front so an investor can know their ROI before submitting to a contract?
5:) I know these are contracts so how come Minergate gets to cancel but the investor can not?

I know some of these questions are inverse or opposed to each other but a simple set of FAQs would suffice.
Don't shoot the messenger. We just need answers. Should I have researched this further? Yes. But from my previous contracts is looked like great deal.
From my screen shots you can see the purchase dates.

Also in searching out any miner information the posts that could be considered current, within the last month are few. Check the dates.
Most of the current information are in blog sites. A good rule of thumb is to skip past the youtube and miner site links to get the real skinny on anything you want to achieve.
These questions need to be answered otherwise I suggest you do not get involved.

https://www.dropbox.com/s/5yzg9q115sinsvy/2017-11-06%2008_51_29-Hashing%20contracts%20-%20MinerGate.com.png?dl=0

Right now as of 20171115 Minergate has not paid out. This after the BTC/BCC pitbull fight about dominance.

Agreed, bitcoin mining difficulty always increasing over time, too many factors to be considered and whether you can use the funds to gain more money in a faster time instead of waiting for months or even a year to get ROI. There are plenty of investment to achieve that with less risk compare to cloud mining.
Invest in altcoins will be more profitable I guess doe to cheaper price and higher rate of increase compare to bitcoin price, such as ethereum and lots of other altcoins.

Actually op is asking about their cloud mining features and nit the hardware mining sharing features.

By the way is it really legal to use your office power, internet and computer to mine the coins? I don't think so and if your employer comes to know about your mining thing then you are probably screwed. 

Anyway coming to the minergate mining stuff, they have recently added the cloud mining, like old recent at this time, and they are paying for now. However I'm not really into the idea of cloud mining because bug companies like genesis are also going down, so it's upto you whether to trust them or not and then make investments.

I've had the same experience my BTC withdrawals 1 completed payment over the last 5 weeks (I should get one every other day). I have had a bit of a response from support.  1 email middle of August and a few replies on Twitter. They say they are aware of the issue and are workin on a fix. Fingers crossed.

I'm with their gpu mining but not with cloud mining. I don't know how they are managing both thing at single time but if they have real miners like me with authorised hardware to mine the coins then they might be having some plans to work out with cloud mining investments. I have gotten my rewards for mining with gpu rig from their pool so that prices they are legit entity. Don't know much about cloud mining but I would advice to invest in that way.

You got the point and i think those people who are looking for cloud mining are just encourage by great offers and promo that actually investment in this service are really risky to invest and its internet base you can not handle the miner..
And if you buy real hardware like you said you can not get recover your capital invest it takes few months or year before you can recover your investment and after that poor bitcoin you can earn..
But it takes a long time before you can make profit so buying altcoin as investment i think is much faster than you mining it and mostly cloud mining site are scam those are not safe..

Whether it's cloud mining or actual hardware mining, I seriously don't understand why people are so obsessed with mining in general ~ you depend on too many variables to call it a proper investment.

Buying Bitcoin or whatever other altcoin has always been far more rewarding than mining ~ it takes far less time, it doesn't require any resources like hardware mining does, no need to worry about broken gear, and the list goes on.

If you invested $1000 into mining at the very first day of this year, you would still be struggling to recoup a large portion of your initial investment. If you bought Bitcoin, your $1000 would be $4900 right now.

This is the reason most of the people avoid cloud mining first and then to do for hardware miners like antminer or asus. You read some thread speaks about bitcoin mining via cloud platform and loosing of money in that platform. Whether it is minergate or genenis. If you have invested in cloud mining you will become a loose soon.

I signed up like 9 months ago for cloud mining.  thought minergate had some sort of reputability.  i dumped 300$ worth of BTC into it.

My withdrawls have failed for the past 5 weeks.  I got paid back 150$ of my investment, now they won't pay out at all.  My support requests go unanswered.  if i dip into their chat onsite and ask anything about it I am instantly banned. 

I know its my follie for investing in "cloud mining" in the first place.  But i would hate to see anyone else scammed by these people.

DO NOT BOTHER WITH MINERGATE.  If you don't take my word for it do a quick google search and be your own judge.

I wouldn't trust any services operated by Minergate team. I hope you guys all are aware of changelly started by Minergate. Changelly recently ripped of many users by taking high fees for sending the altcoin in which user wanted to get exchanged.

Since the minds behind both the services were same, I wouldn't trust it or any services related to the same team. Also cloud mining is a joke , don't buy it.

Minergate is pretty good player in cloud mining. They are very old player in the field gave paid me many times. As if now I went through almost all the posts above and it appears that some of you are happy and some of you not. There have been delays in the payment for me also but it's worth it because minergate takes their business pretty seriously. They have recalculate the profit and loss before they could pay you. It's better to keep patience.

It is well known that mining with cloud based sites is not trustworthy but minergate has proper set up. There PPLNS rewards are also very high and chances of finding blocks are greater with their EH/s hashing rate in the pool.

This is very nice. It supports different altcoins to which they call as crypto notes. They can be mined using your laptop or even smart phone. With this you can achieve nothing as the bashing power is too less to profit. You need to keep everything on for 24x7 to earn pennies. Gosh that's too much. Never tries their cloud mining it seems risky.

I am done little research about cloud mining.first few days they give you profit and you eager to make more profit and buy more hash power after few days you will see fees are more than outcomes.scammers understand that people are now smart.people knows cloud mining sites are ponzi scheme.they are now taking few times to run out.

Though Minergate is one of the oldest players, nothing can be said when they will close their gate and vanish in the clouds.
Most of the cloud mining sites are very shady and just because they are running for long does not make whatever they claim as gospel truths.

How can i join here?i need more details

Never tried their cloud mining feature and this is my first time to heard that they had the cloud mining option i thought they are only giving a software to mine coins to use gpu or cpu mining..
If they are offering cloud mining service i don't know if they are be still legit or not..  since they are old miner software where you can mine in your own pc or mining rig..

Well heres an update . I have 3550 ghs I purchased . My first withdrawal went to processing and remained until I talked to support they sent it to tech and it cleared. Next withdrawal same thing the delays were 3 days and 4 .

NOW july 8th made a withdrawal and as usual instead of pending and sent went to processing ..so this time rather than waiting I contacted support right away hoping that would speed things up ..nope .. I resend message 5 days later and I end up with a reply the next day ..they stated its going to tech support who will send it again OR put back into account .

A week goes by and neither happened .. what did happen was my daily payment of bitcoin "MAGICALLY" stopped coming in so thats been 3 days now and counting . daily payments are suppose to be and they cannot possibly say my contracts not making money as my ghs is more than enough

 others with less ghs are receiving their daily payments I am assuming so or something sure enough would have been said

 so I am to think my account is not receiving payments and its not about my continual contact of support and "nagging" for some answers so I know what to expect?
like seriously they leave you in the dark instead of telling you why and whats up  and I am seriously sick of it.


OK another update haha .. Bitcoin withdrawal worked and payments continued they fixed the problem .

The only time I've got ROI with cloud mining is with cex.io in 2013,2014... and even then that took quite some time. I'd try bumping the support ticket and hope for the best, but I wouldn't be expecting those 0.01btc. :/

minergate very poor communication support. sent them email but no respons.
my withdraw is pending almost 12 hrs and no hash transaction showing in history

only about 2.70 worth a day now was a bit more difficulty increasing on bitcoin and all but im mining .0013 ish a day .25 bitcoin invested   I mine on their pool as well using their gui, its pretty decent though the gui does not always keep up with showing what you earn  but you always get what you mined . Support contacted me today so that only took them a day to respond this time. They do state they are very busy and could take a week .which it did the last time .


   

Many people worry to start making hardware mining due to its cost and electricity consumption.
Please check the review about the minergate in the below link, I have checked that some of the people added the reference also there.
https://netbusinessrating.com/en/review-13462-coins

How many bitcoins do you earn per day?


I agree.

Better invest in hardware and mining, at least with hardware you lose money you will not be stolen by someone else

using minergate is a waste of time believe me. invest your money in hardware it's more profitable.

Never tested it yet looks interesting to me i just stop using miner gate when my PC was broken and dead due to too much heat in my CPU..
And now someone trying to use my PC with virus automates my pc to mine without administrator or the miner gate running silence just notice yesterday because my antivirus expired and my baby download a file somewhere in the internet that affects my pc slow..
Someone are using script to spread it whole the internet and gain a free CPU mining or GPU mining after i register my new license in my PC the automated script and minergate in task manager are gone..
just shared my experience yesterday. that honestly annoying..
Miner gate is good to use base on my experience if you had a good mining rig you can mine good amount of altcoin.. So investing in their cloud mining i think is not honestly can help except if you can invest a lot and gain a good speed..
hope that they will not be the same as other cloud mining.

I am using their  cloud mining ,I invested some money in it, because A. bitcoin I thought may rise to 4 or even 5k and could put my arms up in a cloud mining victory (ya i know could make more buying some bitcoin and holding it .. haha which brings us to     B. because the money may have been spent by now and I still theoretically have it trickling in   

I did withdraw 1 time about 27.00 worth of bitcoin took 9 days to make that ..  you can only withdraw when .01 bitcoin is reached but a tiny bit over because of fee lol ..

It is as levyashin stated it remained in processing for 3 days i was sending support emails and it finally cleared and then a few days later support replied hahaha 

they may have done something on their end though and later replied, I am not sure  BUT the bitcoin did come .. now round 2 ,been 3 days again and I sent a message to support .

 ..  but again they pay, its not a scam and I am unsure why the delay .. I did notice the fee they charge is .0001 to withdraw which is tiny I think possibly they may send immediately but it takes a while to get a confirm due to fee .. just a guess so instead of it showing pending like with the coins you mine with your own hardware it is in "processing" not sure ,that's my guess.

    I like the site however its easy to use easy to mine .. nice pool .

no, i purchased 0.1 btc contract. after some time, it gets 0.01 btc (which is lowest amount to withdraw) and i wanted to withdraw that.

that's all.

but they are not sending it, about 3-4 days.

What happened? Did you purchased their cloud mining contract and request money back? Don't know but if there isn't said money back guarantee in agreement and you purchased lifetime contract, I think they won't return your money. As of now they aren't scammers and that cloud mining is from their partner hashing24 as I know, minergate and hashing24 are partners. Hashing24 cloud mining comes from BitFury.
0.01btc is nothing for them to scam really They have great miner software and pool. Better to avoid cloud minings in future and when you purchase lifetime contract, no one will return you money or just choose website which has hash selling option.

they are just handful of scammers!!!!

they don't send my 0.01 btc for 4 days.

and not answering support tickets.

I have used their miner (not cloud mining of theirs) and I was very happy with their service, I mined BCN(Bytecoin) and XMR (Monero) through my CPU and GPU and was always paid on time ,every time from them. I only switch to EWBF Cuda Miner because I am mining ZCash and Lbry now.

Cloud mining even if it's legit, is from long dead and unprofitable so it's not worthy and it takes a really long time to get your ROI (if you will wait that long). I don't recommend investing in any cloud mining, as it will not make you any money or any ROI in 99.99% of the time.

used minergate on work, both their miner and online miner. i'm not talking about profit...
It took ages to get coins available on my account... its to strange...

Yes I agree with this strategy investing on hardware miners are like gpu's cards than making investing into cloud mining,
although minergate can be trusted but we can not sell the hardware (gpu's cards)
because we just buy the hashrate, it is mean we don't buy the hardware.

Minergate is reputable site, in there real mining, have pool many coin
and you can free mining in minergate use download miner software in minergate

Who would even invest in 24 months ROI. You are better off just investing in your own rig. You will have control over your investment and not to mention resale value after you are done (something that you can forget about cloud mining)

24-25 months is a very long period for ROI, especially if we talk about cloud mining. I did some satoshi's on CEX when is started there has been good options where you can sell your Hash in anytime.
From Minergate i earn some coins from referral's mining, and it was for me the best option. Unfortunately, my referrals have stopped mining

I was using their mining software which has great ui and in many people's eye they seem legal but adding of cloud mining makes thing in opposite side. It's possible to create really legal cloud mining like hashnest but they offer us lifetime contract like genesis which is scam for me. Also I read somewhere that they have contract with hashing24 and one man here was posting with proofs that hashing24 is scam. To my mind don't worths to invest much money here but nothing is on they way of trying.

Forget about investing on cloudmining. Even if its legit cloudmining. I dont think its worth of your money and time you invest on cloudmining. This doesn't guarantee you could get much profit from it. Takes too long to get back your RoI. I dont think your patience could take this. You will wait for atleast a couple of years to make some profits.

Im confused. Is this a cloudmining site are a mining pool for altcoins or both? If you are thinking about investing in cloudmining, dont. Theyre not profitable and all they do is slowly take your BTC from you. Remember cex.io? They used to have tradable tokens available with each token representing a gigahash. They had to close the service because it wasnt making enough BTC for their users.

I mine from minergate, during office hours.   I'm giving it two cores even though I know it doesn't give me anything. It reminds me when I was mining bitcoin in the old cpu days

From coolcoinz's explanation we can clearly say that using the minergate cloud mining services doesn't give a descent profit from buying a hash power and it cost you more than your profit . It would take several years before you get your profit . I have tried their service before I uninstalled it at the end .

You can calculate the payouts yourself.
He bought it on December 28 and had  0.00031750 on February 2
His monthly payment is 0.00015875
He will reach ROI 27 Months after buying the contract, so about 25months from today...

Any payouts?

Are they is ponzi scheme? Moreover their miners software contain malicious things last time I check them(it's about a year ago).
Not sure they legit, you just be careful. Also not sure they pool listed https://blockchain.info/pools

I have used their miner without problems, but actually I never had any withdrawal request though, they seem to provide the maximum 1,000,000 GH/s for 170BTC and your daily cost at $330 I just saw this now and might start with a small amount whenever I had 1k+ bitcoins in my wallet

I have invested in 20 GH/s in Minergate.

Price: 0.00430000 BTC
Hash power: 20 GH/s
Maintenance cost: $0.0066/day
Bought: 28 Dec 2016
Total earnings 2017-02-04: 0.00031750 BTC (netto)

You're talking about this site https://minergate.com

See more information here  https://bitcointalksearch.org/topic/minergate-pool-pps-15-pplns-1-zec-eth-etc-btc-ltc-bcn-xmr-qcn-fcn-xdn-528848

I just saw minergate has a cloud mining feature.
It first was free with like 0.05 khs (basically nothing) now i see we can buy ghs from 20 ghs for 0.0039 btc.
Has anyone got any experience with their cloud mining please review because if its good (i hope ive been using them quite long) im gonna buy some ghs.


Thanks everyone!