What is difference between cloud mining and HYIP ?

xcapator

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Quote from: Ajatmoralez on September 24, 2014, 10:08:58 AM

When i ask to my friends about mining, they always bring me to cloud mining site, but i think cloud mining similar with hyip. did i wrong ?

I think the same way, most cloud mining services are likely just HYIPs / ponzis. I'm wondering how the cloud mining services get into profit zone with the dip of bitcoin price. I actually tried to order some weeks ago, but I read so many negative comments about them, that was enough for me to steer clear

PolarPoint

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Cloud mining could be a HYIP if there is no actual mining going on at the back. We have no way to know for certain.

Tammy Chan

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Quote from: ranochigo on November 01, 2014, 10:51:04 AM

Quote from: kago_chiaki on October 31, 2014, 07:25:56 PM

what about cex.io? I've read somewhere on forum that it's good. I've checked out the site and it looks dissent, I didn't register thou.

cex.io offers OVERPRICED and Never-ROI mining contracts. The maintenance fee is 50+% which means they only give you less than half of your profit and take the rest as fees for electricity and datacenter upkeep. Their GHS are way overpriced, 0.002++BTC while other cloud mining contracts offer 1GH at 0.001 with lesser maintenance fees.

At current difficulty and bitcoin price, 1 GH/s hashrate will bring you roughly $0.0045 a day and $0.135 a month (assuming difficulty won't go up). https://bitcoinwisdom.com/bitcoin/difficulty
Cex.io is charging you $0.105 per GH/s per month. https://cex.io/maintenance

So the maintenance fee is roughly 78%, or in other words, you only get 22% of your mining revenue after the maintenance fee.

Centaurus

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Cloud mining can be a ponzi, but not necessarily.

Icardi09

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HYIP is always become scam after some time (usually in short period of time)
cloud mining = hyip scheme too, but longer time to screw up
if you see cloud mining, try to ask proof that they actually mining
if they can't provide it, most likely they do hyip and / or ponzi

ranochigo

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Quote from: kago_chiaki on October 31, 2014, 07:25:56 PM

what about cex.io? I've read somewhere on forum that it's good. I've checked out the site and it looks dissent, I didn't register thou.

cex.io offers OVERPRICED and Never-ROI mining contracts. The maintenance fee is 50+% which means they only give you less than half of your profit and take the rest as fees for electricity and datacenter upkeep. Their GHS are way overpriced, 0.002++BTC while other cloud mining contracts offer 1GH at 0.001 with lesser maintenance fees.

2double0

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Quote from: kago_chiaki on October 31, 2014, 07:25:56 PM

what about cex.io? I've read somewhere on forum that it's good. I've checked out the site and it looks dissent, I didn't register thou.

I use it still, its good if you also trade alts and btc to fiat. Mining is always a nice bonus

kago_chiaki

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what about cex.io? I've read somewhere on forum that it's good. I've checked out the site and it looks dissent, I didn't register thou.

Etanllah

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There's a handful of cloud mining services which a legit. They are certainly more of a long term investment as it takes about 6 months to hit your return on your investment. This ROI is still much better than most investments out there.

What else gives guaranteed payback on your investment every day or week?

petersiddle98

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Quote from: fredthegambler on October 29, 2014, 09:59:18 PM

My advice, stay away from cloud mining.

Cloud mining is legit, should stay away from HYIP..

fredthegambler

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My advice, stay away from cloud mining.

bitnanigans

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It'll take a very long time to get your ROI on cloud mining, so it's not really worth it except you're ready to wait a very long time.

HYIP means high yield investment programme. They ask you for your funds and promise high interest return rates. Most of the rates are ridiculous, thus, most of them are most likely scams or ponzi schemes.

El Emperador

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Many cloud mining programs are scams, of course, like HYIPs. But, to cap it all, there are also many cloud mining programs which are honest and reliable, but in this case the problem is that ROI takes always too long to be reached, so I advice you to avoid these programs.

mullerdan

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HYIP is an investment program.
if you want mining bitcoins without manage with your own material computer, you can generate btc with cloud mining.

DeboraMeeks

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Quote from: fuguebtc on October 04, 2014, 11:43:38 PM

HYIP dev will scam once they receive enough deposit.
Cloud mining is cex.io is like trading, you need to buy cheap ghs not when it is overpriced.

First point: not necessarily. Some run until they fail (the devs didnt get anything out of it), others do scam deposits tho.

Buziss

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It is in fact not that hard to separate HYIPs and legit cloudmining sites IMO.
1. Return rate: If the site offers you 3% daily, you should ask yourself if bitcoin mining is really that profitable.
2. Source of hashrate: Is the site producing miners? Or is it partnering with a ASIC manufacturer? Has the site proved the existence of the hashrate?

fuguebtc

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HYIP dev will scam once they receive enough deposit.
Cloud mining is cex.io is like trading, you need to buy cheap ghs not when it is overpriced.

wry

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HYIP = High Yield Investment Program; as others have noted, a very common scam wrapper, almost always a ponzi

Cloud Mining = buying mining power from others. As Markov noted, almost impossible to make money, though very popular. Can also be a scam wrapper.

alistar

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wait what the fuk is hyip?

Muhammed Zakir

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Quote from: BitCoinDream on September 26, 2014, 12:54:38 PM

Quote from: Sonny on September 26, 2014, 09:52:28 AM

Quote from: extrabyte on September 26, 2014, 09:22:24 AM

many hyip are disguised as cloud mining ,caution search and only invest what you can lose .

True and true.
A few cloudmining projects have turned scams already in the past such as Lunamine (thread: https://bitcointalksearch.org/topic/wwwlunaminecom-00025-btcghs-mining-contracts-on-demand-withdrawals-675315)
A few ponzi have claimed to be investing in bitcoin mining such as CryptcoMiner (thread: https://bitcointalksearch.org/topic/cryptcominercom-earn-3-45-daily-from-your-investment-762929).

AFAIK, CryptcoMiner was not a Cloud Mining Website. They offered some kinda weird investment plan like 3%-4% daily !!! Most of the cloud miners are still paying like PBMining, GAWminer etc. though they dont reveal how do they operate.

You are right! But PBMiing hasn't shown any proof on their mining farm yet. So I don't think they are really mining nor they are ponzi. Still need some proof! Roll Eyes

~~MZ~~

Topic: What is difference between cloud mining and HYIP ? (Read 3137 times)