Topic: What cloud mining site do you use and why? (Read 3424 times)

I invested in cloudmining around 4 to 5 months back on hasflare. They never achieve their forecasted target. Initially I bought 500 GHs and now I have 750 GHs but they cant achieve even the target of 500 GHs with the rate of 750 GHs. My ROI is not visible even before the expiry of my contract. So my suggestion is never invest in cloud mining.

I have never bothered to do those checks. But contracts are basically a scam as once you buy them there is no way you could sell them back or buy back at better prices. Sorry to sound like a broken record but kryptologika is offering shares in our mining opertion at reasonable prices, low maintenance fees with price protection in silver. At the moment the lowest offer is around 0.0022 per GH/s and still people prefere to buy more expensive GH/s elsewhere.
So we just wait...

BTW if someone is interested in signature campaign please feel free to contact me on PM.

Even if this is not a Ponzi, this is basically a bet on the difficulty. At today's 0.0033 (I don't see the .0029 on the site), about 8.9% difficulty increases are break-even, and it will take over a year to recover even 50% of your initial "investment" (hint: this is not an investment. Investments can be sold. This is a purchase, as there is no way to sell contracts that I can see, unless there is a private market I don't know about.).

Also, if their "statistics" page is accurate, they have 4,979 customers totalling 1,966 TH. I find it difficult to believe they have the equivalent of 4,470 Antminer S3's running (1% of the total network hash rate).

I remember you used to have a lunamine sig 

You know what would be really funny is if lunamine, PBmining and other mining companies are all run by some crime syndicate.  They could just be pushing customers from one burning building to another and scamming them over an over. Since nobody knows the incorporation info of any of these companies it could be Trendon Shavers operating from Texas for all we know! 

I don't see any difference between lunamine, which just ran away with 2000 btc, and pbmining.  Lunamine was very responsive and friendly.  I guess they just didn't keep the con going long enough.

Gotta constantly have new blood to keep the Ponzi going...

Stop!  Just Stop!  At this point I'm going to call you out as a paid shill for PBMining.  Over 1/2 your posts in English and Turkish promote this company - if that doesn't say paid shill....

So just when were you guys planning on running away with everybody's money?

Site:  http://pbmining.com/

Hash: 5325 ghs

Pros: No fees, no electricity cost, no downtimes, cheap ( currently 0.0029btc/ghs), no recurring costs, 5 year period, no recurring costs, no pool fees. return of all invest in 4.5 months

Cons: Minumum order 15 ghs(this can be a cons for a newbie with low budget) , weekly payouts( not a problem, but for someone it can be problem)

Site:  MegaMine.com
Hash: 620gh
Pros: Easy to set up and pay (they take PayPal).  Are "legitimate", I have earned and withdrawn my BTC, and continue to mine with them.  Good customer service.  "real" names and a "real" company, address etc.
Cons: I can only mine BTC, have no control of what pool I point to as they use their own private pool with guaranteed 95% luck.  Cannot therefore mine any other SHA-256 coin.
Extra: I like that they are a UK company using "renewable" energy

Zenminer cloud of course
Why? I know who I'm dealing with there and the prices are quite good.
Prices on CEX are so high that I never even considered investing there. PB has a better offer but I'd never send money to an anonymous company.

cex.io
83 GH/S

I don't think you should go into cloud mining that much,
I earned 40 cents in one day instead of the 2$ a day promised by a profit calculator.
After calculating my profits again VS the price,
I found out it's not profitable at all. If you want to earn big, you have to invest big.

Unless someone else has a better suggestion, I suggest you find a different way to invest.

Bitsaurus great point!

I have a service: http://hashingplex.com

What could we do to gain trust? Post our own mining addresses? We're not a leasing program, but we host for others. So far we have an example of accessing one of our S3s (the same way a customer accesses their machine) ...

http://genitrust.webber.genihash.com

Hmm, and now I notice... we could start by having our DNS records also resolve genitrust.webber.hashingplex.com (and any other customer links) to use the same domain...

Wow you spammed the same thing in 4 different threads - how much a shill are you?  I repeat what I said in the other thread as a rebuttal.

What you forgot in your calculations was that when pbmining gives you a 404 error in 3 months (as in they run away with everybody's contracts) your 5 year contract is now worthless, the S3 will still be mining and under warranty. PBMining has yet to show what hardware they are using or where they are generating blocks - assume it's a ponzi until proven otherwise - Pireate@40 2.0


Cloud mining leads to centralization - no point in supporting it.

http://pbmining.com

Because,

Antminer S3, it seems cheapest mining hardware in the world. In fact,

Assuming you will mine with this device for one year. Because after a year, hardware mines nothing because of diff rise.

Lets calculate the how much it costs..

0.68 BTC for 441 GHS.

340 watt for 441 GHS = (0.34kwh/441ghs)*0.15$/kwh*24*365/(550$/BTC) = 0.00183 btc/ghs in one year energy cost with 0.15 $ / kwh

0.68/441 = 0.00154 btc/ghs comes from order
0.00183 btc/ghs comes energy cost

PSU : lets say, 75$ ----> 75$/441/550$/BTC = 0.00020 btc/ghs

TOTAL COST IN ONE YEAR

0.00154 + 0.00183 + 0.00031 = 0.00368 BTC/ghs = 2.02 $ / ghs @ 550$/btc

If you arenot paying electiricty, buy antminer otherwise, just try cloud mining services with has no fee policy. Just like http://pbmining.com with prices 0.0029 btc/ghs for five years..hardware mining is useless at the moment. I made my roi in 4.5 months with this site.

While I do not endorse cloud mining or leasing hashing power, I disagree that it is not profitable. Both parties are taking a risk: the party leasing the power is giving up their potential earnings by taking a bet that the price of BTC will never be worth the cost. The one renting out their hashing power is basically accepting "less risk" by making sure their power costs are covered. As for people talking about "ROI" ... that is the entire problem! You're all doing this not to support network, but for your own greedy selves. However, of course you're getting a "ROI": you are receiving a limited supply of bitcoin, which will be supplied less and less in the future. Your return comes out to be actual bitcoin units ... which are insanely valuable and useful. Especially for the future human world.

For cloud mining and leasing, I strongly believe it is a good thing: it gets people to see some form of what mining is like. Total newbies can experience from this and possibly profit. If they do not profit, it is a very small fee to pay for the education involved

For a profitable venture in "mining for USA dollar", of course leasing isn't the way to go. You need to do this all yourself, learn it all yourself, etc. Depending on the size of your operations, as well as the funds you are putting into supporting the bitcoin network, you have some options that can help you:

Co-locate with a mining service that charges you per kW -- this is generally much less expensive than a traditional data center, and because the centers themselves take care of hosting your machines, they should be prepared for the serious heat issues caused by mining equipment. Co-located with the right company can be a great idea, as you will likely save a lot of money and time since you don't need your own staff, network redundancy, or a plan for how you will handle the heat! You still manage the hardware yourself (which is easy if you understand how to work with mining pools, have your own wallet, etc.), but you at least own your hardware assets! An example of this type of service: https://bitcointalksearch.org/topic/miner-hosting-available-now-with-hashing-plex-725967

Another service is where you basically hand over money for purchasing machines and sign a contract. Using more formal words: you allow another (trusted) company to manage and host your mining operations entirely. The company could even manage your wallet if you wish (not a good idea unless you're a serious newb), which allows you to have instant liquidation of you want cash from your coins. Best of all, you retain ownership of the coins *AND* the hardware. This is really the best option if you want to maximize your time and your money to support the bitcoin network. My company is the only company I know of that offers something like this soooo...maybe this post will inspire other companies to do something differently and stop trying to make so much money off innocent people curious about mining

I have 258 GH/s on PBMining.

I didn't have made ROI so far, but my first GH/s are at 90%.

Site: cex.io
Your GH/s: 220 GH/s
Pros: I use a lot of power
Cons: I dont make any profit
Extra: I actively destroy the environment

I'll tell you which to not use -lunamine. Guy just gave some Bs excuse and now isn't paying sig campaign even though paid for three weeks. And query whether you can even withdraw from that site right now.

CEX.IO

6 GH/s

About 20¢/month/GH profit. You can resell GH/s.

Long R.O.I.

Best you not invest.

Posted From bitcointalk.org Android App

for sure,
i have 30ghs in pbmining,
absolutely no profit, not even reached ROI in 6 months.
don't waste yor btc

none of the cloud mining is profitable, dont waste ur money

The short term contract (24 hours and costs 15 EUR) will return ~0.005 BTC worth about 2.17 EUR

I'm not so good at calculating a full years worth, but their long term prices seem to be about twenty times as expensive as what I currently pay. Good luck to this company, it's really going to need a fan base.

Register today - check
2 posts - check
Both posts promoting the same website and not much other discussion other than a hyperlink - check
Shill - check

http://cryptotime.de/

New site quite clear and easy to manage.

cex.io and pbmining.com

kryptologika.com
150Gh/s
Cheaper than CEX
none
physical silver as a residual value when profitability is negative

Trust and cex.io in the same sentence.  And he was serious.  Not only is the company pretty much hidden from the world as Bitsaurus pointed out, but they have executed at least one known 51% attack previously.  They took no steps to stop from gaining 51% of the hash rate a few months back.  They do not list out their fees for their services (upwards of 30% maintenance fees anyone?).  Trusting them is like trusting cancer not to spread.

I never went with cex.io for that reason exactly. Everywhere I looked I saw no profit in purchasing the GH there, the only way to make profit was via trading. So I went with PBMining just because I can't set up a mining rig at my house.

Lol at the trust.  You can't even name the CEO of the company or tell me where they are physically located (not some garbage address in London).  They haven't run because they're still making money by selling overpriced hash to new miners because of comments like above.

cex.io cause its most trusted...

Even if you cannot physically mine yourself, there are better options like co-locating hardware.  Cloud mining should NEVER be on your list of options.

Good that  you broke even at least some people are taking big losses.

Site - None.
My GH/s - 4TH/s of hardware that I actually own
Pros - There are no pros to cloud mining, unless you're the guy providing the cloud mining service, in which case there are plenty.
Cons - Most are scams with no proven mining actually happening.  All are overpriced and will never get you ROI.  Many have hidden fees in their structure (example, maintenance charges).

Seriously.  Save yourself the trouble.  Do NOT become a cloud mining consumer.  If you want to mine, purchase the hardware.  You can have it hosted, if you can't have it at your home/dorm/apartment/whatever.  There are a number of vendors who provide co-location services.  Not all of them are overpriced.

The subject says it all. I'm trying to gather some information

Please reply with your information in this format

{Site}
{Your GH/s}
{Pros}
{Cons}
{Extra}

Thank you for everyone who comments.