Topic: Need a trust Site Cloud Mining (Read 522 times)

Large companies find partners on their own if they have a place to install ASICs in their data center. See what kind of business Bitdeer has.
https://www.globenewswire.com/news-release/2023/06/14/2688036/0/en/Bitdeer-Announces-May-2023-Operations-Updates.html
Large mining companies do not provide such services, due to the fact that it is more profitable to mine on your own.

And illegal mining with cheap electricity is closed.
https://twitter.com/i/web/status/1672173931833221120
If sites offer you mining with cheap electricity, this may be a scam.

check my post https://bitcointalksearch.org/topic/minning-5457731 it should help, i recently asked question related. in my post, alot of reply support nice cash haven't tried it yet but you can check it out, you should find this helpful

Why do you want to go into cloud mining,it isn't profitable anymore,I see it as a waste of time and resources renting other peoples equipment,high cost of electricity and at the end you get nothing back. You should think of bitcoin investment and plan to invest on a long term,if you can keep on accumulating little fraction constantly with DCA method,since this is the only way that you can make good profit from bitcoin.

Most cloud mining are ponzi scheme which is not encouraged. Binance just started cloud mining this year but I don't know how trust worthy they are,maybe if you are not still convinced and you want to carry on with cloud mining,you can give Binance a trial since they are the largest crptocurrency exchange and might keep to their reputation.

This site has been running for over 2 years.
https://cloudhashes.com/packages

$100 investment for 90 days     Full Profit   ≈106.20$        24% per year
$4500 investment for 90 days   Full Profit   ≈5429.70$      80% per year
$15000 investment for 90 days   Full Profit   ≈20835.00$  156% per year

https://www.asicminervalue.com/miners/bitmain/antminer-s19-xp-hyd-255th
Their profit expectations do not match the current payback, because asics pay off for more than 2 years.

Unfortunately, my experience with the https://cloudhashes.com/ website has been far from satisfactory. Here's why:

Lack of Transparency: Transparency is crucial when it comes to investing in any mining service, but cloudhashes.com falls short in this regard. The website lacks detailed information about the mining infrastructure, algorithms used, and the team behind the operation. Without these essential details, it's challenging to trust the legitimacy and reliability of their services.

Inconsistent Payouts: Over the course of several months, I experienced inconsistent payouts from cloudhashes.com. There were instances where the mining rewards were significantly lower than expected, and the company provided no clear explanations or justifications for these inconsistencies. This lack of accountability left me feeling frustrated and doubtful about the integrity of their mining operations.

Poor Customer Support: Whenever I encountered issues or had questions regarding my mining activities, reaching out to cloudhashes.com's customer support was an exercise in futility. Response times were excessively long, and the support team's answers were often vague and unhelpful. This lack of prompt and effective customer service further eroded my confidence in the platform.

Unclear Pricing Structure: Understanding the pricing structure is crucial for any mining service, but cloudhashes.com's website fails to provide clear and concise information regarding their fees and charges. This lack of transparency makes it difficult to evaluate the profitability and sustainability of their services.

Questionable Reputation: During my research on cloudhashes.com, I came across numerous user complaints and negative reviews from individuals who had encountered similar issues. These reports of unsatisfactory experiences, combined with the lack of positive feedback or testimonials, made me question the overall reputation and reliability of the website.

In conclusion, my experience with cloudhashes.com has been disappointing and frustrating. The lack of transparency, inconsistent payouts, poor customer support, unclear pricing structure, and questionable reputation all contribute to my negative impression of this mining service. I strongly advise caution to anyone considering using cloudhashes.com for their mining needs. It's essential to thoroughly research and choose a more reputable and transparent platform for cryptocurrency mining.

I just have a question for you, this cloudmining platform that you say was peeked and this is what we found if we choose the 3 months duration it says that the profit is 104$ based on the picture below.


         My question is, is that really the profit? I mean my 100$ will become 204$ or double the capital? Then I'm not familiar with that site platform, I'm a bit doubtful honestly speaking. I guess, I'll just try it, maybe it's safer to do cloudmining on Binance which also has a 3 month duration/90 days locked up and I'm more secured and comfortable.

I like this mining https://cloudhashes.com/ works stably without failures, the output comes without problems.

The design is simple and convenient, I will say more that cloudhashes is one of the best cloud mining I have worked with.

Are you trying to start your own cloud mining service or you want to start using a cloud mining service?  The bitter truth about cloud mining is that they're not for you they are just like a Ponzi scheme using someone's money to pay the others has been the game for a long time the fact is not cloud mining companies have any bitcoin or ethereum mining equipment they are all liars, to. To serve latest of people like you is very hard because cloud mining is not profitable and to run enough asic miners to pay customers wiont make any sense. 

Do you want to mine bitcoin? it is better to find some money and pay for a bitcoin Miner that will serve you for a very long period of time, if you use it right and right now that we are in a  bear market, a bitcoin Miner will be way cheaper compared to if we are already in a bull market.

The site https://cloudhashes.com offers a convenient and efficient way to decrypt hashes. It has a simple and intuitive interface that allows users to easily download hashes and get their corresponding values. The site also offers various hashing algorithms for you to choose from.
One of the main advantages of the site is its speed. The decryption of hashes is very fast, which saves the user time. Moreover, the site ensures the security and confidentiality of data, which is an important aspect when working with such services.
All in all, https://cloudhashes.com is a great hash decryption tool. It is easy to use, performs its functions quickly and ensures data security. I recommend this site to anyone looking for a reliable hash decryption solution.

I don't think op has really fully understood what he wants to enter, especially cloudmining. Maybe it was just driven by hype or as you mentioned it was just encouraged by good words that's why people are asking about things like that.

He doesn't know the ins and outs when it comes to crypto or bitcoin mining matters like you say in your 5 years mining experience using Asic.

It's been 5+ years of mining, initially, I started with ASICS but due to my non-technical background plus the cost of maintenance I left it within a year or something. It was most of the time unprofitable to maintain. Soon I learned more about GPU miners, though they used to eat up energy in similar ways to ASICS done but it was comparatively way more efficient than theirs. My favorite coin is RVN and I still mine it to date with on-off conditions considering the reduced profitability.

I know, how much effort I need to maintain them, and work on them from time to time to keep them profitable. Moreover, you get a pretty high chance of losing the wires, software errors, and sometimes there will be GPU connection errors and whatnot. It takes up energy in between and it's a gain with pain.

My question back to OP is, do you really think cloud mining would work as efficiently as this with shareable profits?
Ask this question once, how would they manage the cloud mining behind the scenes with mega-farms, pay for bills, labor costs, temp, maintenance, and much more? Yet you will be getting a profitable share from your investment?

I doubt that. Just be careful. If you really find a sweet profitable spot then definitely go for it.

that's interesting to know that binance providing cloud mining services. I can understand that mining bitcoin is not profitable. but can't we min altcoins there? is that only a bitcoin cloud mining? maybe it is more profitable to mine altcoins instead of bitcoin.
and I don't think bitcoin's price going to increase by more than %100 in just 3 months.. it might happen but gonna take much more time than 3 months.

One thing about this mining of all this sites,is all about making a very good research on each of the sites that you may like to mining anytime anymoment ok, because proper investigation and research is very necessary in a thing of this nature.

And again is whenever you are mining any site you watch very well how they are operating and their system of operation too, and how fast their are upgraded and the crypto currency they are in partnership with.

Another thing is that in any genius site always grow fast and start their development by trying to secure the KYC and build a strong relationship with their customers...

Looks like you made a mistake while quoting the other members. Please check and correct.

There are several cloud mining sites that are trusted and legit, including BitDeer, HashShiny, ECOS, and NiceHash
Cloud mining allows users to mine cryptocurrencies remotely using shared processing power, without managing the hardware themselves. However, it is important to note that cloud mining can be risky and some services may be fraudulent. It is recommended to thoroughly research and select a legitimate service that pays consistently to avoid scams

This service is new to binance cloud mining and I haven't tried it yet. I just looked it up and this is my question that can be seen in the picture below.



      Will I pay here 65.79$? that's all and then just wait for the 180 days duration? Then the visible fee and electricity, I'm a bit confused if it will be deducted from the 65.79$ I paid? But the stakes are still better compared to this.

That's correct, I tried a couple of cloud mining sites a few years ago, but all of them turned out to be scams within a few months. Since then, I have never invested even a single 1$ in any cloud mining site.

For instance, many members here might recall HashOcean, which was one of the famous cloud mining sites that paid in BTC. It was later revealed to be a Ponzi scheme and shut down in the summer of 2016, scamming almost 1 million members. I believe they ran away with over 10 million dollars' worth of Bitcoin by that time.

While a few cloud mining sites might be safe, I wouldn't expect to make significant profits from them, so I haven't even tried that no more and I'm not even thinking about it. 

IMO all cloud mining sites are scam. Either you get scammed right away or the "legitimate and trusted" sites come up with their rules making it impossible to earn anything by mining with them. So, in any case only the person/company owning the physical miners gets the money and "cloud miners" get scammed. I'm sorry to disappoint you, but that's the sad truth.

I wonder where the 23% comes from



So right now it's 0.0777 in profit with 0.0200+0.0531, a bit better than yours but still, you get
0.0731 in expenses and 0.0777 in revenue, which is 0.0041 in profit, so a 5% margin, nowhere near a 23% stated there.
Taking into account the current mempool spam that drove the fees up and you get a 5% bonus from this which might not be there tomorrow the profit is paper thin, one tiny dif increase and you're losing coins.


Bitdeer, which is actually the only one that has its own hashrate as it's run by Bitmain and it's not simply a reseller of rented hash rate from a pool.
Oh, and their price plan is better than Binance
Hashrate Fee: $0.0172/T/D vs $0.0200/T/D

There are a lot of people who don't know about this, but I'm sure you can
understand what you're trying to do. 
 
First of all, not a developer. 
 
Second, you need to be a developer. 
 
Third, you need to be a developer. 
 
And finally, you need to be a developer. 
 
In the end, you're going to be able to make money by mining.

Cloud mining is a scam. Never fall for that trap. I am not sure if the genuine one is good or not, but the availability is very slim. Because they can only provide a few. So in this competition, it is really hard to find one. Genuine ones are out of reach, and those which are available are possible scam.
Better to stay away from them as they will only harm your pocket and scam you. Just a suggestion. Do Your Own Research.

Also, don't deposit in any online mining services. If they have a tax and fee on the mining asset, only then choose it. Because if they can provide you free money making process, then they can take the fee from it and give you what they are willing to give you. They will never as you to deposit or anything. Be safe and stay away from scam like this. Invest your time in other things. You will earn more than these cloud mining.

I just know after you guys tell me, and yes it actually profitable but razor thing margin and we need 3 month to get return of investment for now it is not worth it too, it is better to buy with DCA technique and maybe the return will more than this.

* Hashrate Fee 0.02 + Electricity Fee 0.0531 = 0.0731/USD/T/Day (the historical output 0.0776/USD/T/Day - Fee 0.0731/USD/T/Day = 0.0045/USD/T/Day

I don't understand the whole concept regarding cloud mining, it could be due to it being associated with many Ponzi schemes guaranteeing huge returns, thus, I may be a little biased on whether it's worth it or not. Mining in general has slowed down, in terms of profit, not sure what applies to cloud mining and its options, as it's generally frowned upon.

Binance recently launched a cloud mining service and looks quite decent, it doesn't guarantee you specific returns while it warns you about any potential threats, but provides you with an estimate of your profit. I'd try it with a small amount of money if I were you, use $100-$200 and see how it works out.

I also look at the rate, the electricity cost kills the profit IMO.  So putting an investment on the Binance cloud mining pool is like a gamble hoping that the price of Bitcoin in the future would double or triple in order to take profit which I think it is better to just buy Bitcoin and wait for the price to surge.  At least in the case where we buy BTC directly, we hold the coins and do not rely on the third party for profit acquisition.


I second this advice.

It's important to do thorough research and due diligence before investing in any cloud mining site to avoid scams and potential losses.

Buy Bitcoin or any other top marketcap coin with a promising future, send the coins to your Hardware wallet and wait

You will way more returns and sending money to this centralized platforms to "make" more money for you. it always ends badly. You are familiar with Ponzi schemes based on your trust ratings. I think you know what I am talking about.

They still do offer cloud mining if you have the Binance app you can find it under earn> pool> then cloud mining.

But I already tried to calculate it and it's unprofitable due to their Electricity cost. So it's not worth investing unless after 3 months we see the price of Bitcoin increase in value by more than 100%.

Did Binance offer cloud services ? I just hear it but nicehash and miningrigrental is legit and I have been using it couple of times.

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and OP most of the cloud mining out there is scam believe me sometimes they make their website look tempting by offering free hash rate and discount but you can use your logic that the price of electricity is high If i have the company i would use money for marketing not offering Free hasharte for couple of weeks even a month.

so stay away from ponzi scheme that said they are cloud mining

The bitter truth is Nicehash cloud mining is not profitable anymore, it was fairly good in 2018 but today it's not anymore, I still rent hash power today basically for newly released altcoins, not Bitcoin, I can see that the service is still running, I don't understand how they can manage to stay in cloud mining business, maybe Nicehash have a massive solar energy plantation who knows? Because the main reason why this is less profitable is the electricity bill to run the miners, unless the cloud mining is Ponzi like so many cloud mining companies in 2017/2018.

Some of them end up scamming people while some announced that they are ready to close down the business because it's not profitable anymore. If a company is running a cloud mining service today, it's either they are scammer who doesn't have any mining equipment or they have wind or solar energy with incredible lithium backup to run the whole setup.

Be careful, there is a 95% chance that every cloud mining is a scam, they never have any asic miners or any mining farm.

It is just a prediction based on previous historical data if their claim is to be trusted[1]. Basically just a number for promotional material. Don't use them to predict your earnings. Not really surprising in my opinion. If they claim it is a guaranteed reward I'd be worried they're running a ponzi instead.

That being said, I'd advise OP to think twice before you use your coins and lock them on a third-party platform where you can't even see their daily operation. Who knows, maybe they are not mining and are using your funds to do insider trading or something similar. Even if they do mine, they'll always earn the bigger share while you risk a lot of your coins.

[1] https://www.binance.com/en/support/faq/how-to-use-binance-cloud-mining-45849cb6f3a84663b2ffbc5ca3dca716

I don't ever recommend cloud mining and instead of that, just simply buy and hold BTC and I am sure that will be more profitable instead of worrying about hardware and electricity costs.
But still, if you are really into it, I would recommend Binance Cloud Mining service.

Official Website: https://pool.binance.com/en/cloud

I am sure they started providing this service in 2023, which wasn't available earlier. Binance being the biggest Crypto exchange should be the most trusted brand out there for any crypto related service be it mining or staking.

There are 2 plans available:

1. 90 Days duration starting from $5.94 / Static Revenue: 78.46%
2. 60 Days duration starting from $4.38 / Static Revenue: 16.00%

I am not sure what exactly they mean by static revenue as I see a huge difference in both of these plans and they both are sold out as of now. Maybe there is an option to get an email or alert if you are actually interested in these. I would still recommend you to buy and stake rather than minining on cloud. Good Luck!

Nicehash will be difficult even for me to calculate the real profit from renting video cards or ASICs, but I think that it will be more profitable to buy cryptocurrency on the exchange for this price. Genesis-mining has not rented its ASICs for 3 years already.

I think I know some of these sites like genesis mining, hashflare and nicehash. Genesis mining offers mining contracts for various cryptocurrencies such as bitcoins, ethereum, litecoin , and more. You can choose between different mining plans with varying hash rates and durations.https://www.genesis-mining.com/

while Hashflare is another cloudmining platform also offers mining contracts for various cryptocurrencies including also bitcoin, ethereum and i think zcash is included. you can also purchase hashpower contracts for fixed duration and mine cryptocurrencies without having purchse and maintain their own mining hardware.https://hashflare.io/

lastly, Nicehash is a marketplace that connects buyers and sellers of hashing power. You can rent out their own mining hardware or purchase hashpower from other user to mine cryptocurrencies. Nicehash also supports a wide range of cryptocurrencies and algorithms, and you can choose between different mining contracts with varying hash rates and durations.https://www.nicehash.com/

Reminder from a friend that while these platforms are popular and reputable, cloud mining can be a risky venture and there is no guarantee of profits. ; )

I only know 3 of them Binance, Nicehash, and miningrigrentals are currently trusted sites who offer renting hashrate/Cloud mining.

Other sites are most likely scams and even they are trusted all sites that I mention above it is still risky to invest and rent some hash rate compared to buying your own miner.

I want to start a cloud mining any cryptocurrency