Topic: What is the best Cloud mining Site? (Read 9109 times)

You will find always something to discuss about your topic and this is not my attitude. So I will close this in vain discussion with this my post. No one told that the mining has not changed. I tried to have experience even with the ASIC-s trying to buy one at Butterfly Labs. But haven't it because they promised to ship their in January and didn't was able to ship since October. Than (luckily) I had my refund because was a big amount of money. I had taken a big ASIC with to many ghs for that period. But this (the change you pretend) doesn't change nothing in my discussion. You are making again game of words and in van discussion.

THAT DOESN'T MEAN NOTHING. EVERY KIND OF ASIC DON'T CHANGE THE INABILITY TO PREDICT THE DIFFICULTY. THEN THE PRICE OF ASIC IS SO HIGH THAT DON'T LEAVE TO HAVE EARNINGS. THE MINING MUST REPAY FIRSTLY THE ASIC AND THEN EARN.

Then if the difficulty has gone drown that doesn't mean at all that can be so even in the days to come. Thinking so is to think that a child or like someone who have not even the much little experience in this field.

I have no reason to see your link about the difficulty of mining because I know it very well. And even mentioned data from it only few posts above. But, as I can see, you don't read what it was written by the others. You read only the phrase that tell don't mine. Any other word which argue this phrase it is not important for you. I am bringing again my phrase write two-three posts above:

"If you had no profit during this time when difficulty was up and down since almost one year and the rise was at minimum amounts you can find yourself easily how much can be the earnings if the difficulty rise constantly (no drops as it was verified during the above periods) and in amount more than 10% every 14 days."

See my post above and your find easy this sentence. In that clearly is spoken about the difficulty during the last year. From what had the data which make me to write this sentence? What do you think?

I CAN TELL TO EVERYONE AGAIN MY THOUGHT: DON'T MINE. THIS IS MY SUGGESTION. BUT EVERYONE CAN DO WHAT HE THINK IS BETTER FOR HE/SHE.

PERSONAL MINING IS TO RISKY AT LEAST FOR THE MONEY USED TO BUY EQUIPMENT. CLOD MINING IS NOT PROFITABLE IN THE CASE WHEN THE SITE IS NOT SCAM. BECAUSE MOST OF THOSE ARE NORMALLY SCAMS.

EVERYTHING IS TOLD HAVING IN MIND THE ACTUAL SITUATION. ABOUT THE FUTURE I CANNOT TOLD NOTHING. THINGS MAY CHANGES. WHO KNOWS?

I can prove that you are not able to realize your possible risk in your investment on mining. You have no idea and cannot never have idea in which amount will be the difficulty in mining. So your calculations have not taken in consideration something very important in such process. The rezult is that your calculations are not reliable.

Yes I have experience in mining. To much. I have mine with my computer (when this was possible) with gpu and then in cloud mining. The first was short and without to many earnings. The second experience lasted more than 1 year and was in three sites (pb mining, cloudminr.io and cointellect.com). I had earnings from the first (double of the amount invested), loss in the second (a little less than the amount earning from the first investment) and (strange but true) almost nothing from the third (about 10 us dollar earnings). All the three these sites were scammers. I was lucky in the first because invested between the firsts and not lucky in the second because was from the lasts enter on it. Much than luck in the third (which in time was before the last mentioned) because had invested to much but with the profits had from the previous investments. The luck was because the last contracts purchased was not with earnings but mostly with my bitcoins: was a big amount.

But I have knowledge even because I have read even more about this phenomenon. So my overall experience tel, to not mine at all.

But even without all this, it will be enough for me (and for everyone - according to me) to understand that if mining depend from the difficulty, the difficulty is totally unpredictable and can arrive big amounts within 14 days, that this story that continue without end, then can be told without doubt that it will be not possible to made any kind of calculation able to have an reliable conclusion.

Then you can ask me the why of my mining when I knew all this thing. The answer is: firstly because before had not such knowledges and experiences. So was something new and I wanted to try this something new. Then even to earn (in the case of cointellect - seemed serious in everything since the moment I made my last investment and a few time after). But the results have from those experiences convince me to tell to everyone that, as for me, mining must not be made because are to many unknown factors. Even those which seems the must (easily) predicable and calculable are only one illusion.

I mean no game of words.  Just that it is not a blanket statement of profit or loss for everyone.  I wont go into it again since it's a post up but look at all the individual variables.  You cannot group all miners together in any statement ROI.     And I do not mean either is guaranteed, as they are not.  

I realize my possible risk on each investment mining or other.  You should always try some ROI math.  Do you mine?  I just don't feel like you are a miner most likely.  And nothing wrong with that mining is not for everyone.

*Edit posting here as I don't want to just keep a long set of posting, and turn into a posting battle.

Read below what he is missing experience in is asic mining.   It has changed drasticly from GPU day's where you could get 20+ change on difficulty.    If you would like to see some current and real difficulty changes look at bottom of page here: https://bitcoinwisdom.com/bitcoin/difficulty   .  But best of luck to him as everyone is allowed their own views even if dated.

And again I'm not pushing anyone to mine.  Do your own ROI math always.  I make 0 if you mine or dont mine.  I do it as I love it, and have been able to do so successfully. Others do not love it so it is not for everyone.

*It appears he want's to post an post again and again.  Look at the total hashrate it is very hard today to do like in the day's of asics now to do a 20+ difficulty, we have had nothing like GPU difficulty changes in recent times.   But I can only point to something for someone I cannot make them read it.  With not mining since GPU it is a very dated ideas in my opinion.  I don't think he realizes the amount of gear it would take for " more than 10% every 14 days."  in today's world and current hashrate.  Were talking about a huge operation and investment .... over 10 percent today on a single change just has not happened Nov 05 2014.  Look at most current jumps they are quite a bit less - https://bitcoinwisdom.com/bitcoin/difficulty.    But make your own opinion's as i suggest always for everyone to research before any investment.

With last purchase of his being a refunded bfl jalapeno I can see he would not share the love for mining as I do.  I do love mining as many others do.  But again it's not for everyone.

You can have or profit or loss. It is impossible to have both. Maybe no one yes but is a very rare thing. So your expression is game of words. As the most of your post. As I told in my posts, mining is not profitable in every kind of point of view. Not because cannot be earned (potentially). But because has to many unknown factors which can, in every moment, make you loss forever. So the risk is so high that don't mine it is the best choice.

again it's about selling your hash, i said it before, while people are repeating without reading previous post, well i know the answer...

if you sell your hash roi is halved, and you can then buy again and take a small % of profit each time

There are many that break even and even ROI.  It takes smart strategy.  It in no way is a guaranteed profit. I personally do mostly hardware mining as I have mentioned many times I enjoy playing with the gear.

But you cant make blanket statments saying you will never break even.  Mining is so dependent on certain varibles it's not one size fit's all.  For example electricity... that varies a lot and home miners will see some should mine ... some should not.  Same with VAT some countries have some that kill mining profit.

Cloud mining is a lot of strategy to.  With the different kinds of cloud mining, you have to decide do you want one that buys gear? Do you just want less and get one that sells GHs.   What price are you willing to buy in at?  What price is your sell price?    It goes on and on.

But your right mining does not mean profit.  But it does not mean loss either.  It all depends on certain factors that are different for everyone.   And your bringing having into it which will effect it no doubt... but no one can give a good speculation of factors at having yet.

As I told in one of my previous posts mining is not profit. Whatever you do and whenever you do about it: at home mining or cloud mining. At home mining needed expensive dedicated hardware which costs to much and even you have much earnings at the beginning everything go to repay the hardware. Then the difficulty rise and the earnings drop. Si you will never arrive at break even. The same with clod mining. They who sell ghs know all that and make their calculations to not lose them. So here the possibility to earn something is even less. Must earn the owners of site which give the clod first. There it will be nothing from you. Even the possibility of selling ghs is nothing. All the factors are connected with each other and the price of the sell will be never profitable for who buy, and maybe even for who sell.

If you had no profit during this time when difficulty was up and down since almost one year and the rise was at minimum amounts you can find yourself easily how much can the earnings if the difficulty rise constantly (no drops as it was verified during the above periods) and in amount more than 10% every 14 days.

Even this have less probability to be verifies because of halving (is supposed that to many miners leave mining because of the halving of the amount produced and as a consequence less profits) no one can  know if this can be true for sure. Who knows which factors can enters in the market and make again the rise in big amounts.

Mining at home takes a long time at this point for most to though.  It's sad but day's of 90 day ROI are far gone.  No matter what sort of mining don't expect to get it back "soon" as a general rule for ROI.

So never invest more then you can loose since it takes a while, an ROI is not guaranteed.

there arent any good cloud mining websites as most of them are hyips and if they arent it gives roi in a really long time

Right Mate. I was new to crypto then and was blinded by their marketing strategies..

there is no need to predict that far as majority miners are based in Asia and they are getting negligible electricity rates.
its not a matter of roi for them.

I personally would avoid anything that say's "lifetime" or anything like that.  Because we know no miner last's a lifetime they have a certain lifespan. 

I think being able to sell hashing power is pretty important.  Without this there is not much strategy on it.  It's almost like gambling as I'm not sure who can get a good ROI equation on "lifetime".  I sure cannot predict that far in crypto world.

Yes i sold all my ghs recently as they were depreciating in value and rewards dropped. The company released new hardware and people are dumping outdated hashpower. By my calculations coins mined plus the sale i'm still at minimal loss. You are right i should have traded and monitored everyday price. My other cloud investment is a lifetime contract and you can't sell or trade hashpower. A year ago payouts were okay but now it only pays trickles of btc's in my wallet and i don't know if i ever will ROI. The rest turned to ponzis and scams..

Hashnest the ones who pre-ordered or bought first S7's they went up value about 2 BTC once they were out.... a few got that deal.  That is a insane ROI that quick.

I admit I was not in on it and wish I would have been.  But amph is right depending on when you sell there is possible to make quick roi.  It all changes there is not a easy guide to ROI quick, it can be luck or great strategy or a mix of the two.

Others are more in the long haul.  Mine with it for a while and at some point sell.  It just all depends.

did you sell your hashpower at some point? because as it is right now, cloud mining is not about sitting there and waiting for roi

it is now very similar to trading, you need to sell your hash after some time to have  aquick roi, and buy again when the price fall, repeat

It is exactly as you written. HashNest have still the advantage that you can always sell your power and completely withdraw. Genesis Mining offers only permanent contracts.

Good opinion have as well Bit-X - but i never try them.

These are the two I use and generally don't have too many issues. Hashnest you have to do a bit of trading to maximize your return.

Cloud mining had lost it's attractions even though bitcoin network has lesser difficulties compared to it's peak levels. May be cloud mining will bounce back to it's significance once bitcoin price hit back to some $600 levels.

There have been some.  I always have  been in hardware myself as I enjoy mining and playing with them so much.

The funnest mining possibly was "cloud".  There was a small period of time CPU mining through VPS's was profitable.  It was fast and did not last long as I remember.  But that was the funnest "cloud" mining I did ever.   

The other is more about holding and knowing proper time to sell GHz.  Some do it great some do not.   Mining in no way is guarantee ROI in any kind of mining.

Cloudmining was never profitable. I have some small investments in different sites for almost two years now but never did i make money. High maintenance fees and mining difficulty eats up your payouts plus almost all cloudmining sites turned to scam later on. Just hold on to your coins