Topic: What do you think of Cloud mining? - page 2. (Read 470 times)
The Cloud Mining its Really Wonderfull, because if you haven't sufficient money for built a Rig of Bitcoin Mining, in the cloud mining, you can get income without investing so much money. But first you should look for in-depth information about the bitcoin mining company or any other cryptocurrency, to confirm that it is a real company and that you are actually paying.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
Cloudmining is almost always a scam. If the people actually did have hardware that would work to mine as much as they claim, then why would they not just use the hardware for themselves?
It doesn't make sense for the people to give you a cut with the hardware. Logically, the only true option for the reason of cloud mining is to be a scam.
I am not arguing that it is always honest, but I think I may give another perspective on why you might choose to rent your mining power.
You see, when you use your mining equipment for mining, it is you who must ultimately handle all the risks involved. You are a winner if the price of the currency you mine goes up, but you are a big time loser if it declines, especially if the decline is heavy.
On the other hand, if you would prefer to have a more reliable profits (even if smaller on average) you might want to choose to rent the mining power. Then all the risks are transferred to the party renting your power. You have less risks. You pay for it, obviously, by having smaller profits. But it still may make sense for some business models.
The problem with this kind of setup "Cloud Mining" is that you really don't know how long it will last. As you said the risk is onto the party renting their Hashing power, so they can actually close anytime they want if they feel they are losing without given "YOU" the investor a warning or refund.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
. I think the cloud mining is something that you gonna pay just to start mining. It a kind of investing to earn bitcoin. Once you pay for the amount that they are requesting you just wait for the minutes they will tell you to earn a bitcoin, not just like the other kind of mining that I’m joining, that you need to be very wise just to have bitcoin. It is the way of giving ideas and opinions wearing the company that you are promoting.
There are lots of scams around but even if you find a legit one, you still pay a third party to handle your hardware and software. That has to cost something, which makes it less efficient than home mining.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
Cloudmining is almost always a scam. If the people actually did have hardware that would work to mine as much as they claim, then why would they not just use the hardware for themselves?
It doesn't make sense for the people to give you a cut with the hardware. Logically, the only true option for the reason of cloud mining is to be a scam.
I am not arguing that it is always honest, but I think I may give another perspective on why you might choose to rent your mining power.
You see, when you use your mining equipment for mining, it is you who must ultimately handle all the risks involved. You are a winner if the price of the currency you mine goes up, but you are a big time loser if it declines, especially if the decline is heavy.
On the other hand, if you would prefer to have a more reliable profits (even if smaller on average) you might want to choose to rent the mining power. Then all the risks are transferred to the party renting your power. You have less risks. You pay for it, obviously, by having smaller profits. But it still may make sense for some business models.
Cloud mining or cloud hashing enables users to purchase mining capacity that of hardware in data centres. Bitcoin cloud mining enables people to earn Bitcoins without bitcoin mining hardware, bitcoin mining software, electricity, bandwidth or other offline issues.For example, Pay per GHash/s would be 0.0012 BTC / GHs for a 24 month contract.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
i think cloud mining is a web based mining tool or group just like icloud googledrive or any web storage systemj,cloud mining is one of the mining situation that you will invest to them and wait your earning but beware of some maybe they are scammer
Cloud mining not only does not destroy the digital currency as a whole, but in fact provides additional mining capacity, capital and users to the blockchain network, which otherwise would not exist. As more and more people participate in the digital currency, cloud mining will continue to provide the public with a simple way to mine remotely and the industry itself will become more and more famous, transparent and accountable.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
Yes some website offer cloud mining, and some other offer cloud servers and you can do anything include mining. I used to do cloud mining back in July last year, cloud mining might be more efficient and more simple than traditional mining. But mostly cloud mining offered high cost of rent fee because we are using their servers, also some of the website required minimum withdrawal to be able to withdraw your own fee, not to mention you cant control your hash rate 
Mining not only allows users to exploit bitcoin, but also ensures that the network does not need to buy expensive equipment. However, because it is centralised and involves trust, cloud-based mining and any combination of mining will be primarily based on reputation.
A cloud mining startups start to ensure that the growth in several ways:
1.User
2.Capital
3. Processing capacity / transaction
The latter is especially important for the web as it will make the web more secure as an extra effort to verify transactions.
1.User
2.Capital
3. Processing capacity / transaction
The latter is especially important for the web as it will make the web more secure as an extra effort to verify transactions.
I think that if there is money then you can buy power. And invest in big money. But if there is little money, then it's better not to deal with it. Since it will pay off only in half a year
Thats true. Mining is only for patient people who can wait till half year or a year to get the money back.
Mining is the way how to earn money but very slow but this is constant profit slowly but sure.
I once got victim by this so called cloud mining though there are really good sites that you can earn bitcoin but I think majority are now ponzi since mining is only profitable in some other countries unlike before, aside from that you need to have good technology and electricity so far I no longer hear cloud mining site that are really profitable better shift to trading or other stuff like doing signature campaign or gambling just to earn bitcoin rather than mining.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
Yes, its too good to be true. There are plenty of people here who have been a victim of this of "PONZI SCHEME" you will just be wasting your money if you choose to invest on cloud mining as it is considered as not profitable and probably just a SCAM that any time could blow.
Cloud mining not only allows users to mine bitcoin, but also ensures that the network does not require the purchase of expensive equipment. However, because it is central and involves trust, cloud-based mining and any mix mining will be largely reputation-based.
I am a miner, have a small home setup, and I've also used cloud mining services as well. I prefer the real thing. Mining at home allows me to control the miner and really track the results of my hashing power. I feel like cloud mining services only payout what the mining power would yield on average, but in reality sometimes you get better blocks in real world mining. Plus I can take my mined coins and invest them immediately, whereas most cloud mining services require a minimum withdrawal and often there are time restrictions on when you can withdrawal. Now, all of that said, mining at home is a pain, and it's easier to just invest your money in the coins you believe in and let them grow in value. My 2 cents...hope that helps!
Happy to know that you are a satisfied miner...can you please tell me more about the electric consumption whether that can be the one to determine the overall profits of the operation and if you don't mind me asking where are you based at? Anyway, about cloud mining, I heard that it is not actually the most viable way to do some mining and many of these cloud mining programs are just scams or will eventually fail. Mining on our own can be the best option but it also entails a big investment.
I think of it an easier way to get into a mining pool and you pay a little for daily maintenance, I have two different websites and they're still running Bitcoin mining and getting paid daily.
I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.
Cloud mining is the process of the bitcoin mining utilizing a remote data center with shared processing power. It is very useful for those who aren't technically minded and don't want to run their own software/hardware. It gives people unique opportunity to begin mining cryptocurrency without the need for a large initial investment in hardware.
For the most part, the general public today generally believes that the digital money market is full of Ponzi schemes, cyber-theft, fraud and a lot of risk, especially if you are a beginner. More importantly, when a bitcoin startup is "goxed," disappearing or halting business, that bad feeling often deepens.
As the saying goes, "failure is the mother of success," now this sentence is very suitable for cloud mining industry. Under the condition of free market, the competitiveness is not strong, especially the failure of weak enterprises may be very beneficial to the long-term health of the Bitcoin ecosystem. Ironically, the bitcoin ecosystem may be perceived as "protected" by lack of regulation because it is immune to bail and bail and government intervention.
Jump to: