Why cloud mining is a zero sum game - page 4.

thirdprize

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Quote from: crazyivan on October 18, 2014, 01:51:22 PM

It depends on the company. I currently use 4 different cloud mining companies, there are all profitable ATM but LTCgear is absolutely the best. Have been with them since May and have reached 500% ROI so far.
Take a look at their review in my signature if you are interested.

Yeah, but do they do Btc?

hawkeyedwolf

newbie

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Quote from: Collider on October 12, 2014, 10:38:54 AM

The future of mining lies much more in the "cloud" than in home mining.

In theory, a well designed cloud mining system can provide both hardware and power at lower than residential rates.

This pooling of buy power should be enought to give both you and the managing company a profit from mining - if anyone makes profit from mining that is -

The current state of affairs seems to suggest that cloud mining is more expensive than home mining, as some people are willing to pay a premium for the conveniance of the service.
Many cloudmining providers take advantage of this and turn around HUGE profits.

I agree that the future of mining lies in the "cloud". But I have a question. I purchased a 250GH miner with GAW Miners and I want to know if this was a smart move.

pak13

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completely agree.

Cloud mining is like paying rent. It's lost money. If the owners of cloud mining services could make more not renting their equipment then of course they would. But they make more from peasants thinking they can make a fortune. Common sense people.

1echo

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scams hunter!

yes cloud mining mainly blows

crazyivan

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DMD Diamond Making Money 4+ years! Join us!

It depends on the company. I currently use 4 different cloud mining companies, there are all profitable ATM but LTCgear is absolutely the best. Have been with them since May and have reached 500% ROI so far.
Take a look at their review in my signature if you are interested.

Other then that, GAW s quite nice too but they have been reducing their payouts recently, I do not know whether this is going to continue.

Gumbork

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Quote from: hashie on October 18, 2014, 09:41:25 AM

Quote from: mojosavage on October 06, 2014, 08:34:31 PM

1. It costs about 3 times as much per GH/s for sha 256 or MH/s for scrypt as it does to buy a physical machine to do the work. This effectively puts your break even (NOT RETURN ON INVESTMENT!) around 200 days or more for these cloud contracts.

2. Your breakeven point is around 200 days and not return on investment because you do not have any underlying value with the contract (unless it is a gawmining hashlet that you can resell). With a machine your return on investment is helped somewhat by owning the machine at the end of the mining period.

Not correct. There are cloud mining services that offer GH/s for decent rates with fast ROI periods, like Hashie.co - starting from $4.51 per 10 GH

-Sahra

hashie.co is too new, high risk..

hashie

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Quote from: mojosavage on October 06, 2014, 08:34:31 PM

1. It costs about 3 times as much per GH/s for sha 256 or MH/s for scrypt as it does to buy a physical machine to do the work. This effectively puts your break even (NOT RETURN ON INVESTMENT!) around 200 days or more for these cloud contracts.

2. Your breakeven point is around 200 days and not return on investment because you do not have any underlying value with the contract (unless it is a gawmining hashlet that you can resell). With a machine your return on investment is helped somewhat by owning the machine at the end of the mining period.

Not correct. There are cloud mining services that offer GH/s for decent rates with fast ROI periods, like Hashie.co - starting from $4.51 per 10 GH

-Sahra

5ick3uffalo

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Quote from: petersiddle98 on October 17, 2014, 05:30:38 AM

Quote from: AHUPP on October 15, 2014, 08:30:02 PM

I recently joined PBMining and according the first two payouts I must reinvest between 10-15% monthly to keep it. Even though, ROI is about 160 days.

I don't know how hard the difficulty will increase from now on but it seems pretty good to me!

Are you guys having similar results?

Where did you get the idea that ROI is 160 days for pbmining? It should be never...

I started march and i´m deeeeep in positive ROI with PBMining

SFMiner

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Quote from: petersiddle98 on October 17, 2014, 05:30:38 AM

Quote from: AHUPP on October 15, 2014, 08:30:02 PM

I recently joined PBMining and according the first two payouts I must reinvest between 10-15% monthly to keep it. Even though, ROI is about 160 days.

I don't know how hard the difficulty will increase from now on but it seems pretty good to me!

Are you guys having similar results?

Where did you get the idea that ROI is 160 days for pbmining? It should be never...

It really depends on how quickly difficulty increases.

I just bought 1 TH/S on PBMining to test the waters. If it grows faster than 35%/month, then my ROI is basically never. If it grows slower than 35%, then it's less than a year. It's a gamble, but one I'm willing to take, since I've exhausted all electricity available to me at the moment.

Until a legitimate hardware upgrade opportunity comes up (that would significantly improve my current .7W/GHS), I'm testing out cloud mining options.

petersiddle98

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Quote from: AHUPP on October 15, 2014, 08:30:02 PM

I recently joined PBMining and according the first two payouts I must reinvest between 10-15% monthly to keep it. Even though, ROI is about 160 days.

I don't know how hard the difficulty will increase from now on but it seems pretty good to me!

Are you guys having similar results?

Where did you get the idea that ROI is 160 days for pbmining? It should be never...

thirdprize

sr. member

Activity: 485

Merit: 274

Quote from: AHUPP on October 15, 2014, 08:30:02 PM

I recently joined PBMining and according the first two payouts I must reinvest between 10-15% monthly to keep it. Even though, ROI is about 160 days.

I don't know how hard the difficulty will increase from now on but it seems pretty good to me!

Are you guys having similar results?

Would you care to show how you worked that out? With 60Ghz my first payouts were around the .02 mark while my latest have been about .0063 Btc. Big difference.

AHUPP

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I recently joined PBMining and according the first two payouts I must reinvest between 10-15% monthly to keep it. Even though, ROI is about 160 days.

I don't know how hard the difficulty will increase from now on but it seems pretty good to me!

Are you guys having similar results?

thirdprize

sr. member

Activity: 485

Merit: 274

I'm with PBMining and several months ago when i signed up it looked like i would ROI in two months. Payments have taken a dive and get smaller each week. I mentioned this on their thread and people said you just had to buy more Hashes to make up for the increase in difficulty!!!!

Since when has increasing your investment while returns get smaller been a good idea? Huh

MelodyRowell

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Quote from: Morguk on October 12, 2014, 05:33:39 AM

I'm rapidly heading towards ROI so I have to disagree.

I've also mined at home and I don't miss the heat, noise, random issues and the high electricity bill.

Which cloud mining did you bought that is heading towards ROI?

cryptomad

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Thanks.

transient858

full member

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Quote from: wunkbone on October 12, 2014, 09:59:25 AM

Quote from: elgimpo on October 11, 2014, 07:19:36 AM

My 4 week ROI disagrees

Really? which cloud mining did you purchase?

Like to know also.

Collider

hero member

Activity: 714

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The future of mining lies much more in the "cloud" than in home mining.

In theory, a well designed cloud mining system can provide both hardware and power at lower than residential rates.

This pooling of buy power should be enought to give both you and the managing company a profit from mining - if anyone makes profit from mining that is -

The current state of affairs seems to suggest that cloud mining is more expensive than home mining, as some people are willing to pay a premium for the conveniance of the service.
Many cloudmining providers take advantage of this and turn around HUGE profits.

wunkbone

sr. member

Activity: 420

Merit: 250

Quote from: elgimpo on October 11, 2014, 07:19:36 AM

My 4 week ROI disagrees

Really? which cloud mining did you purchase?

Morguk

hero member

Activity: 595

Merit: 506

I'm rapidly heading towards ROI so I have to disagree.

I've also mined at home and I don't miss the heat, noise, random issues and the high electricity bill.

smolen

hero member

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Quote from: l3sny on October 11, 2014, 08:34:01 PM

If you look at CEX you will se however that the market price of the shares is way aboven ROI. There are a few reasons for it. One is the hope for BTC price movements making minig more profitable. Another one is the price fluctuation (read speculation). You can buy shares and re-sell them with profit and keep the mined coins.

Pfft! Their customers just want to re-mint old dirty bitcoin scrap into shiny new blocks without any history!

Topic: Why cloud mining is a zero sum game - page 4. (Read 8012 times)