What is Cloud Mining? | Bitcointalksearch.org

mittooss

member

Activity: 154

Merit: 10

DEm1CKDTViM1y9YmEcBaktNLWVx8rwuQUm

Quote from: iamteody on October 25, 2017, 05:27:06 PM

Quote from: Emoclaw on October 25, 2017, 04:38:17 PM

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

For beginners what would you advice?

If you have time and patience Choose the right coin and mine it.

vincl

member

Activity: 386

Merit: 18

cloud mining companies take away 1 BTC from you and pay you 0.6 BTC after 2 years, but because of the rise in BTC price you still make profit.

so HODL.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: iamteody on October 25, 2017, 05:27:06 PM

Quote from: Emoclaw on October 25, 2017, 04:38:17 PM

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

For beginners what would you advice?

Are you actually wanted to mine altcoins? cloud mining is not really profitable and mostly they are scammer..
So i suggest to stay away to them not a good idea to invest from them if you really wanted to mine buy your own rig or build your own..
And mine altcoin using nicehash to easily setup and start mining..
There are lots of members who join here are already experience to invest in cloud mining and almost all are never get back their bitcoins ..

Wonza99

member

Activity: 89

Merit: 10

Crypto Fan

At the moment the service in the cloud of minergate allows to mine BTC and XMR. Soon ETH although I do not know how profitable these investments are today

tperkins1776

member

Activity: 78

Merit: 10

Quote from: iamteody on October 25, 2017, 04:08:10 PM

I started mining at minersgate and Im very noob with mining then I saw cloud mining in minersgate, What is that?

Minergate is a software that will run on your PC. That is the opposite of cloud mining.

However,...

Minergate does sell cloud mining a.k.a. hashing contracts... It's basically renting or paying another machine to mine for you.. I've not heard any great results doing this. However, I could be wrong. I'm a recently former newbie and I am building my first rig. But that's what I've figured out so far!

I hope this helps!

-T

iamteody

newbie

Activity: 84

Merit: 0

Quote from: Emoclaw on October 25, 2017, 04:38:17 PM

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

For beginners what would you advice?

Emoclaw

sr. member

Activity: 420

Merit: 251

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

iamteody

newbie

Activity: 84

Merit: 0

I started mining at minersgate and Im very noob with mining then I saw cloud mining in minersgate, What is that?

Topic: What is Cloud Mining? (Read 369 times)