Newbie question of cloudmining | Bitcointalksearch.org

Edwardard

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Quote from: Sadlife on March 15, 2017, 02:44:13 AM

There are some legit cloud mining sites but not profitable im not saying that it is a scam it's just doesn't make you any money. If you try to calculate the outcome of your earnings from the site you invested in you'll know that you have not gain any profit instead you've lose some of your money.
I guess the increase in difficulty in mining blocks and the big cost in maintenance fee that's why they cant guarantee your total profit and most of the cloud mining sites runs away.

There is not any legit cloud mining sites. Can you give me the name of any cloud mining site which proved to be legit ? It's always better to stay away from such sites.

Sadlife

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There are some legit cloud mining sites but not profitable im not saying that it is a scam it's just doesn't make you any money. If you try to calculate the outcome of your earnings from the site you invested in you'll know that you have not gain any profit instead you've lose some of your money.
I guess the increase of difficulty in mining blocks and the big cost in maintenance fee that's why they cant guarantee your ROI and most of the cloud mining sites runs away.

Slow death

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Quote from: Mulon on March 13, 2017, 05:37:40 AM

Ok, but that didnt answer the question in terms of profitability and efficiency. Take out of the equation website credibility for this question

Maybe this can help you:

https://bitcointalk.org/index.php?board=14.0

https://bitcointalk.org/index.php?board=81.0

I also had the same doubts in the past, I even invested in a legitimate cloud mining company, but I had headaches.

You have to seek opinions from people who use cloud mining or people who mining bitcoin with their own hardware, people who have knowledge will give you a good idea of where you are getting into.

sulendra12

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Quote from: JeffBrad12 on March 13, 2017, 09:40:37 PM

Quote from: Mulon on March 13, 2017, 06:18:48 PM

My question is: do 200 gh/s mine more than two separate 100 gh/s ?

Do a single 200 gh/s, because it will be less on your maintenance cost. and I will not recommend you to use separate gh/s.

It's just for the efficiency of your cloud mining.

Like philipma1957's post, spread your money to 2 sites and don't stick to one only while you can mine BTC you can also mine altcoin on Nicehash. It takes long time to pass the ROI but however good luck with Cloud Mining project.

mrcash02

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Quote from: Frosxh on March 13, 2017, 10:57:58 PM

Quote from: Mulon on March 13, 2017, 06:18:48 PM

My question is: do 200 gh/s mine more than two separate 100 gh/s ?

it depends, for example you split those 100gh/s in 2 pools (named A and B)

if pool A is lucky in a day, you will probably earn much higher than what you should earn and you will recieve lower if your pool is unlucky
same goes for pool B

another thing, each block gives 12.5BTC + the fees on each transaction that got included in it, so if those transactions paid higher fees and your pool mined it, you will get higher share.

so to answer your question, it mostly depends on luck so splitting your mining power doesn't guarantee bigger profit

And do pools with more gh/s mining on them have more chances to hit better rewards or does it depend only luck?

Frosxh

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Quote from: Mulon on March 13, 2017, 06:18:48 PM

My question is: do 200 gh/s mine more than two separate 100 gh/s ?

it depends, for example you split those 100gh/s in 2 pools (named A and B)

if pool A is lucky in a day, you will probably earn much higher than what you should earn and you will recieve lower if your pool is unlucky
same goes for pool B

another thing, each block gives 12.5BTC + the fees on each transaction that got included in it, so if those transactions paid higher fees and your pool mined it, you will get higher share.

so to answer your question, it mostly depends on luck so splitting your mining power doesn't guarantee bigger profit

mrcash02

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Quote from: Mulon on March 13, 2017, 05:37:40 AM

Ok, but that didnt answer the question in terms of profitability and efficiency. Take out of the equation website credibility for this question

I would like to know too if there is any difference.

For an example, if I have 100 gh/s on Genesis Mining and 100 gh/s on HashNest, do they mine the same amount of BTCs with the same amount of gh/s?

JeffBrad12

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Quote from: Mulon on March 13, 2017, 06:18:48 PM

My question is: do 200 gh/s mine more than two separate 100 gh/s ?

Do a single 200 gh/s, because it will be less on your maintenance cost. and I will not recommend you to use separate gh/s.

It's just for the efficiency of your cloud mining.

michellee

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Quote from: Mulon on March 12, 2017, 08:09:00 PM

Hello, super noob question: is it better to have a lot of Gh/s active on 1 website or fewer but spread around in many website. Aka better, say, 500 running in one place or 5 100's spread? Does it change the mining income/profit?

its depend on the sites and how much you want to invest. let me give the example, we know that there are still legit cloud mining available until now like genesis mining, hashnest, hashflare, eobot. let say you choose genesis mining and hashnest. from this, you can calculate how much you want to spend in those two sites and let say you can spend the maximum of 500 ghs for each of website. the mining income will be run every day and you can collect the amount in your account before you make withdraw but you need to thinking about the roi that will be need too long. in genesis mining, you need almost one year before you can roi, in hashnest i think its not different than genesis mining, so the choise is up for you.

CasinoBetGame

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if you join in cloud mining must becareful choose company cloud mining
because majority cloud mining not real mining only ponzi scheme

iam never invest in cloud mining because is very long time to BEP and majority only ponzi scheme

n691309

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Quote from: Mulon on March 12, 2017, 08:09:00 PM

Hello, super noob question: is it better to have a lot of Gh/s active on 1 website or fewer but spread around in many website. Aka better, say, 500 running in one place or 5 100's spread? Does it change the mining income/profit?

Quote from: Mulon on March 13, 2017, 06:18:48 PM

My question is: do 200 gh/s mine more than two separate 100 gh/s ?

First of all, calculate how much are you earning and when are you going to reach the ROI, does it worth waiting so much time for a no profit or low profit. Basically, there should be the same like 1 x 200Gh/s and 2 x 100Gh/s just check if 2 x 100Gh/s costs more expensive than 1 x 200Gh/s. If I were you I wouldn't invest in cloud mining as I think it doesn't worth and the risk to get scammed is high if the websites are not known or are too new in the market.

Mulon

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My question is: do 200 gh/s mine more than two separate 100 gh/s ?

Technicality

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Quote from: Mulon on March 13, 2017, 05:37:40 AM

Ok, but that didnt answer the question in terms of profitability and efficiency. Take out of the equation website credibility for this question

It's impossible to take website credibility out of this. You need to get cloud mining out of your head.

When people say that nearly all cloud mining services are scams, they're not joking. The reason for that is because cloud mining is not profitable. It's a bad investment, you will not make any ROI for at least 2-3 years and the chances are that you'll never make any profit at all as in four years the block size reward halving will happen. Therefore the only legit cloud mining service is HashNest and maybe 2-3 more, all of which are terrible investments. All of the others are Ponzi schemes. DON'T DO IT.

BitHodler

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Quote from: Mulon on March 13, 2017, 05:37:40 AM

Ok, but that didnt answer the question in terms of profitability and efficiency. Take out of the equation website credibility for this question

Since you're not interested in credibility talk, it's like this ~ Bitcoin cloud mining isn't worth it. It's a pure waste of time. You'll most likely never get back your initial investment amount.

It also depends on the service you plan to invest in, but in some cases your contracts can get terminated if the service in question deems it unprofitable and thus a waste of resources.

Aside from that, there is also the constant increasing difficulty that you should focus at. It's not likely that the difficulty will decrease any time soon, so that means even lower payouts in the future.

I think that's reason enough to avoid Bitcoin cloud mining, right?

~Bitcoin~

legendary

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There are few cloud mining sites that can be trusted till now but in past many so called legit cloud mining sites have ran away with millions so i suggest you to diversify your investment in multiple cloud mining sites, if you still believe in cloud mining.

But for me all cloud mining are HYIP which will turn into scam at some point. Don't invest in any cloud mining sites.

Mulon

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Ok, but that didnt answer the question in terms of profitability and efficiency. Take out of the equation website credibility for this question

philipma1957

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Quote from: Mulon on March 12, 2017, 08:09:00 PM

Hello, super noob question: is it better to have a lot of Gh/s active on 1 website or fewer but spread around in many website. Aka better, say, 500 running in one place or 5 100's spread? Does it change the mining income/profit?

tough to answer.

I will try

HASHNEST is run by bitmain it mines btc only and basically it is the only trustworthy site to cloud mine btc

https://www.hashnest.com/

NICEHASH is a cloud mining rental site and you can rent from them and mine many different coins.

https://www.nicehash.com/

these two sites are just about all that I trust for cloudmining.

So to answer your question as best I can there are only two sites you can trust and you can only mine btc on one of them.

So mine btc on both sites if you want and mine other coins on nicehash

Mulon

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Hello, super noob question: is it better to have a lot of Gh/s active on 1 website or fewer but spread around in many website. Aka better, say, 500 running in one place or 5 100's spread? Does it change the mining income/profit?

Topic: Newbie question of cloudmining (Read 709 times)