Topic: New Cloud Mining Company Suggestions? (Read 119 times)

It is no more wise to suggest someone any cloud mining platform because i couldn't find even a single person claiming  to have profited from these fake schemes.
The market is full of such insane offers but you should research more for your satisfaction. If you really want to earn profits, put your money into bitcoin or ethereum

Its really going to be difficult brining anyone on board because the cloud mining market has been polluted to the extent that every cloudminng company has been adjudged to be scam on a 98% scale. So don't be surprised when you put so much effort in convincing and advertisement but the response is not commensurate with the quality response in investment. It was even made worse recently when a popular cloud mining company that have been able to convince otherwise decides that since it's mining difficult has increased and the market has crashed, it's best to freeze withdrawals couple with other policies.

Okay, SOME UPDATE

We have made a new Instagram account, go follow it if you are interested in seeing our progress!

@minemycloud
https://www.instagram.com/minemycloud/

I will try to show as much as I can starting from the facility (at least as much as I can show you without compromising security), mining conditions, GPUs and miners we are using, power set up, internet set up, etc.
I'm excited to start this with everyone!

We are working slowly starting with Monero, going to be setting up 2-4 more racks this week. More hashpower coming within the month ($500k to 1 million worth~ to boot).

Thank you for all the responses

There are many scam sites available in the market. Hope you new project will be go with the any scam attempt. If you give cloud mining contract with the reasonable price and allow others to make their ROI soon means you will be able to get the consumers soon.

Good luck hope you share the successful stories soon like genesis or hashflare.

Nice knittycatkitty, it looks good. I will keep watching the progress of your works and I will take a look later on the contract prices.
Just don't forget to convince your potential customers about your project and keep them updated.
Good luck 

Definitely not as crowded as it seems but only after you weed out all the fraudulent companies (that is, companies pretending to offer cloud mining but actually are just building ponzi schemes/pyramid HYIPs).

For starters, if you want to challenge and beat the best, it's actually just one point: honest transparency. None of the famous ones show their true hashpower available together with all the actual blocks found and pool statistics.

Show this and find a way to agree for people to earn together and you'll do what no one else has ever offered the industry.

Got it, we can open an Instagram to showcase real photos and videos of our mining rigs in our farm and the progress of growth as people invest. It will have the day's newspaper or date with our company logo on it to showcase that we are making a fresh, new video every time

ROI-wise I think the majority of it that involves our part simply comes down to how much our mark-up will be because even just building your own mining rig, there is still that endeavor's own ROI waiting period.

We would redirect them to widely available mining calculators, basically as if they were building their own mining rigs. Because we cannot control the market, ROI would be something we cannot indefinitely give our final word on and would be risky for me. The only thing I can control is the price I am offering them our services at.

The simplest answer I have for most people would be that most businesses set up from the ground-up where you don't do much, most people don't begin seeing profits until 2 years minimum down the road. In the field of mining it can be a completely different scenario, but with cloud mining there is mark-ups and maintenance that we take care of for the end user so they have peace of mind at the end of the day.

We are looking into following the same model as Genesis mining and a very low maintenance fee @ potentially 8-10%. Simply a clear marked-up price + electricity costs pegged at $0.06kw/h. We are still comparing with other services to see what we can bring to the table. Contracts will be for 2 years just like Genesis.

So far we are some of the things we are looking to bring to the table of cloud mining services
-User controlled wallets (like how localethereum handles theirs, instant withdrawals, users hold private keys so they can import it to any wallet application they like)
-Low maintenance @ 8-10% and electricity rates @ 0.06kw/h
-No taxes on our business so less overhead to deal with (no taxes, etc passed onto you, so more room with our ability to wiggle with contract prices, you will still have the responsibility of reporting taxes to your respective region outside of this obviously)
-Transparency
-Clean, responsive website based on React.js and Ruby back-end.

More to come! Always looking for suggestions.

We are in the process of developing a website now. If anyone knows a developer they can refer, would be very much appreciated as well.

I will keep updated here our progress

For the meantime here are some pictures of our first rigs we have set up! Customers I met with that wanted to do a per say "test run"

We are setting up more as well at the end of this week, we aren't multi-million dollar operationjust yet but we are working with a sizeable sum of money to start-up with at about $1 million to boot.

We are starting with Monero XMR and simultaenously will be setting up machines for Ethereum and ZCash as well along with some machines directed towards RavenCoin RVN.

Our foundation Monero XMR machine

48x Vega 56 set up hashing @ 1731h/s average each (PPT Tables set up and everything) on Monero XMR.

https://imgur.com/a/brGuHNP
we are filling that whole room up with miners! we're estimating we can easily fill the room with at least $1 million worth (that one rack right there is about $40k-$45k~) and that is just to boot, we have more warehouses and buildings to work with (some former factories).

it's very cold up in this location and we are getting proper intake and exhaust ventillation installed to handle the amount of miners that will come in here, the efficiency of the Vegas definitely help to boot in comparison to past GPUs, a lot less GPUs required for higher hashrates)

Since the existance of cryptocurrency, there have been lots of cloud mining websites offering profits by investing in their mining project but not even 10% of investors can suggest you to choose cloud minings as your earning method.
If you invest $1000, you will get profits initially but at last you will comet o know that you that it was a mistake.
The reason behind this is lots of wait and  afford with no profits

Since you are willing to open your own cloudmining services, i recommend that you share with others the mining rigs in the firm, no one will trust those services without proof of mining. Secondly, i think having a positive income - ROI - is a must, users will ask you about how much they need to wait for ROI, the cost of the contract, the maintenance fees...
You have to run it for a period so you can study your project before launching it.

Something that can't be done at this time. ROI.

You might focus on one or a few lat-coin but who knows if that's worth anything today.

Cloud mining died a few years ago.

I'm coming to this forum to ask questions about what most users would want in terms of a cloud mining company?

Recently, I have partnered up with 2 other people and we are looking to expand operations on a small mining farm.

I believe we have the right infrastructure to start one, no taxes, low power cost, lax regulation.

I know all the flack cloud mining gets as far as a business model, and I know there are TONS of cloud mining companies and people who are looking to do the same exact thing we are. However as someone who would like to run a cloud mining company legitimately I can see the list narrows down quite quickly on the "Real or scam" list leading me to believe in reality, the space is not as crowded as it seems. I think largely due to geographical and legal circumstances (ex. two competing mining operations rake in $1 million in profits at the end of the year, one is held responsible for paying 30% taxes while the other has no tax obligations, or maybe one is paying a much higher rate in electricity than the other so they require way more machines, more scaling issues, than the other would to attain the same end profit result. At the end of the day only few situations and places really offer that luxury so there can not possibly be so many cloud mining operations

As someone who wants to start being a cloud mining service provider with all the right things in line, what are the things users look for in a cloud mining company?

Our layout

So far we are planning on doing Monero and Ethereum exclusively, for startup (safer investments, these are GPU investments which can be liquidated and has some value in a secondary market outside of crypto, we have been operational already mining these coins) Then diversifying into ZCash, Bitcoin, and Litecoin (ASICs, I know ZEC is GPU but I consider it a third venture when it comes to mining because it is exclusively mostly NVIDIA-focused coin which have questionable stockade and refresh coming up)

One thing we plan on doing or plan to move towards doing for users is implementing a wallet system similar to localethereum's platform where they give the users their private keys and can generate wallets at any time. Essentially their own wallet not sandboxed in any platform.

Our region is tax free which I believe gives us a very strong edge over many mining operations, legal regulations are very lax, and we have a very low starting power costs (at $0.06kw/h to boot) .

We have a lot of infrastructure to boot to expand to very large controlled growth operations.

Outside the obvious limitations of cloud mining, such as yeah we have to make a profit too, yeah it's not going to be as profitable as if you build your own rig and just did it at your own house (depending on kw/h rates anyways), yeah we pocket a good percentage too, yeah we handle the logistics, etc as well as failures similar to Genesis mining's approach where we shoulder the costs of hardware DOA, majority system downtime, etc. At the end of the day it will be marked up passive income.

Outside of these factors, what can we do as a start-up company to be a good cloud mining service provider? What are people looking for?