Topic: why is there no cloud-mining now? (Read 1768 times)
I only know Genesis mining, nicehash and hashflare. They are long-running cloudmining. But i don't really call them a legitimate since they are screwing with their clients. They are breaking their own rules like lifetime contract turn into two year contract. I don't even know if it can cover the ROI you give to them. Some are just ran away together with the money of investors. Remember hashocean. Hundred of thousands were scammed by this ponzi. They called a legit cloudmining. But turn to scam. I never erase in my mind the possibility that this can happen to any cloudmining. I don't know why theree a lot of people who are attracted to this. Can't even give a decent profit.
i would never trust to any kind of cloud mining it's risky and most of them was scam there is much more to do before you can ask for withdrawal but in the end you did not get your currency and some of them did not confident in cloud mining, they trust more in trading sites, signature campaigns, etc. for the sake of their currencies.
Why exactly do you think some cloud mining ponzis are legitimate? I don't understand that part of the question at all. Obviously they weren't making money and went into another business, that's why they didn't start back up. Consider yourself lucky if you didn't have a ponzi collapse on you. No one in their right mind would lend out hashing power for someone else to make money unless it's a scam.
I think one of the reason that cloud mining sites are dying is because of the bad reputation that many of the sites are actually just a scam, after the users purchases their contract on mining, the company just simply shut down and ran off with everyone money. One of the biggest cloud mining site hashocean was one good example on how unreliable this type of site are after they shut down and ran off with everyone bitcoins.
People losing interest over cloud mining. Not trusting them anymore due to various ponzi/HYIP scams. Huge maintenance fee and other costs are also making the cloud mining company lose their interest as they are not getting satisfied with the outcome of how much effort they are giving. There are other legitimate cloud mining sites which still exists but get ROI is quite impossible and takes ages.
I think that a big reason why this is occuring is that there is simply no demand for these services to exist. There used to be c-cex which was immensely popular and people actually made a profit because you were able to trade your GH/S for bitcoin on an open market, even after you decide to stop mining with the hashpower. C-cex was also connected to one of the biggest pools at the time, GHash.io.
The legit cloud mining sites like Genesis mining aren't connected to any proven pools directly, which basically makes their legitimacy not very verifiable. People now invest in cloud mining like a sort of game - they expect to get a profit, quick and fast, just like a HYIP game and they can afford to lose what they invest. With legit cloud mining sites, nobody wants to pay 30% maintenance fee, pay $50 for a contract and never get his full ROI back. But how else is the company going to profit apart from doing this? So again, a lack of demand for non-ponzi cloud mining sites due to the unprofitability historically means that admins do not have incentive to open up new sites.
The legit cloud mining sites like Genesis mining aren't connected to any proven pools directly, which basically makes their legitimacy not very verifiable. People now invest in cloud mining like a sort of game - they expect to get a profit, quick and fast, just like a HYIP game and they can afford to lose what they invest. With legit cloud mining sites, nobody wants to pay 30% maintenance fee, pay $50 for a contract and never get his full ROI back. But how else is the company going to profit apart from doing this? So again, a lack of demand for non-ponzi cloud mining sites due to the unprofitability historically means that admins do not have incentive to open up new sites.
Personally, I will choose to invest my coin into safe wallet, it's more profitable than spend into kind of investment like cloudmining.
Agree with this, besides selling their hashrate, they charge member with maintenance fees which this is an extra income from them.
Agree with this, besides selling their hashrate, they charge member with maintenance fees which this is an extra income from them.
Not all contracts do, my dash there are no maintenance fees. i would have bought a x11 miner but they sold out so at the time the 100mh miner cost 500 usd a 2 year x11 contract cost 500 usd, so made sense.
i think like any product, like i have said before they don't research and make mistakes, but spend a bit of time research and look around. remember you can use your hashrate on other coins as well, which i think is handy.
the thing if there were no mined coins there would be no new coins(well pow), so it does make you feel part of a process instead of trying just to make a quick buck.
Personally, I will choose to invest my coin into safe wallet, it's more profitable than spend into kind of investment like cloudmining.
Agree with this, besides selling their hashrate, they charge member with maintenance fees which this is an extra income from them.
Guys there is one thing why legit cloud mining doesn't exist (only hashnest is legit as I know) and that's following: why the hell will someone buy miners and mine for your profit when he already can to mine himself and get a good profit for his own? And after this imagine some cloud minings which offer you lifetime contract, that's very fun. Hashnest is legit because they are under bitmain and also you can to sell your hashrate. They take fee from selling hashrate and that's mostly how they profit.
Agree with this, besides selling their hashrate, they charge member with maintenance fees which this is an extra income from them.
first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
Because there is no real financial incentive for anyone to open a legitimate cloud mining site. It's not worth the effort of the admin to prove every single day to users that they have their rigs actually mining coins. If they don't do that, people accuse them of a ponzi. Even if they do, people complain about fees. So why not run a ponzi anyways because you're going to get blamed either way for losses?
I used to hold some hashpower at c-cex.io before they closed as well. The fact that you could both mine from their cloud mining service which was 100% legit and also you can sell the hashpower when you wanted to for real bitcoin was amazing. But unfortunately they did close down, which is pretty sad. The only legit one that i'm aware of is genesis mining at the moment. But it's not profitable either - don't bother investing in any of them, scam or not scam.
Guys there is one thing why legit cloud mining doesn't exist (only hashnest is legit as I know) and that's following: why the hell will someone buy miners and mine for your profit when he already can to mine himself and get a good profit for his own? And after this imagine some cloud minings which offer you lifetime contract, that's very fun. Hashnest is legit because they are under bitmain and also you can to sell your hashrate. They take fee from selling hashrate and that's mostly how they profit.
cloud mining was always a scam. you can still cloud"mine" on several sites, they're just ponzi in disguise.
Whether it is real or scam cloud mining is not profitable for anyone only who is running is in profit as he collects transaction fees and maintenance fees so they wont be in loss but who ever is investing it while all expenses goes out their wont be much left and if you see in long term you wont be in profit. So now the users have become more smart and instead of going for cloud mining they are going for trading in bitcoins and altcoins which is more profitable if you properly research and do it.
Maybe because people found more profitable ways to invest their money, ICOs for instance, you can gain much higher ROI by choosing the right project, a lot of people accuse ICOs of scamming, but I think there are some legit companies that aim to disrupt some industries.
first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
The rewards are being reduced after halving and on top of that, because bitcoin price was fairly high at the moment, miners should be compensated well even with drop rewards. So nothing changed and cloudmining must be operational.
But here's the thing I can't see. People nowadays are not that interested anymore in cloudmining because of low profit or let's say too much waiting for return of investment. Low capital = Low returns = Long ROI. Let's say no more ponzi anymore but rather than to invest on cloudmining, then invest directly with the coin or joined some ICO projects which is more profitable even just for couple of months.
Many people are more aware on what is happening on cloudminings thats why there's less cloudmining scam business has been build at this moment and that is the simpliest explanation we can plant here, Aswell as surely All those scammers are now Joining the altcoin scene thats why we can see so many shitcoins building up nowadays and some of them are just behiding on good roadmaps so we should be carefull upon choosing on altcoins where going to invest with.
first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
The rewards are being reduced after halving and on top of that, because bitcoin price was fairly high at the moment, miners should be compensated well even with drop rewards. So nothing changed and cloudmining must be operational.
But here's the thing I can't see. People nowadays are not that interested anymore in cloudmining because of low profit or let's say too much waiting for return of investment. Low capital = Low returns = Long ROI. Let's say no more ponzi anymore but rather than to invest on cloudmining, then invest directly with the coin or joined some ICO projects which is more profitable even just for couple of months.
Miners are wise they are choosing to mine for their own after block halving many changes happen in bitcoin price movement and difficulty is increased more. that is why cloud mining today are not exist.
Instead people are investing for other altcoin because they seen large changes of the price of other altcoin like ethereum that the price was touch at $400 value. so other people want to be the early holders and make a good profit in the future. and forgot about cloud mining..
first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
The rewards are being reduced after halving and on top of that, because bitcoin price was fairly high at the moment, miners should be compensated well even with drop rewards. So nothing changed and cloudmining must be operational.
But here's the thing I can't see. People nowadays are not that interested anymore in cloudmining because of low profit or let's say too much waiting for return of investment. Low capital = Low returns = Long ROI. Let's say no more ponzi anymore but rather than to invest on cloudmining, then invest directly with the coin or joined some ICO projects which is more profitable even just for couple of months.
first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.
so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?
People are understanding things and know that cloud mining doesn't worth even if there is any service currently running, now the trending is more focused in ICOs where there are being "created" new coins every day or every week and people are extremely investing in these ICO but not all of them are getting successful.
There are a few cloud services which are "legitimate", albeit some of them can be shady. A few of them are:
-Hashnest.
-Hashflare.
-Genesis Mining.
-ViaBTC.
Cloud mining is far from dead. The problem is that people don't actually get ROI on it.
With Genesis Mining for example, people sign up to loads of two-year altcoin contracts, and then they end up actually losing money because every time the difficulty catches up with the price after a few months. These surges in price don't make cloud mining profitable in the long term, because Bitcoin and (stable) altcoin mining is now matured enough that mining remains barely profitable, and only goes beyond that after a significant rise in price.
When companies have to make profit, this makes the actual money for the investor about zero. Not to mention that you're buying hashrate, so price rise = difficulty rise = hashrate means less in the cryptocurrency, since you're actually investing using cryptocurrencies in the first place.
-Hashnest.
-Hashflare.
-Genesis Mining.
-ViaBTC.
Cloud mining is far from dead. The problem is that people don't actually get ROI on it.
With Genesis Mining for example, people sign up to loads of two-year altcoin contracts, and then they end up actually losing money because every time the difficulty catches up with the price after a few months. These surges in price don't make cloud mining profitable in the long term, because Bitcoin and (stable) altcoin mining is now matured enough that mining remains barely profitable, and only goes beyond that after a significant rise in price.
When companies have to make profit, this makes the actual money for the investor about zero. Not to mention that you're buying hashrate, so price rise = difficulty rise = hashrate means less in the cryptocurrency, since you're actually investing using cryptocurrencies in the first place.
Yes, I have seen some of cloud mining offers in this forum, not all of them scam or failed and then closed.
But, here the things: cloud mining offers small profit and it takes like forever to doubled your capital. And why those people willing to share their project for others while they could make more money if just for themselves? But they choose to get more money from investors who don't know how to mining.
Cloud mining offers a way to mine actual coins, and remember GM allows you to use you hash rate against other coins on some contracts.
Tell me, why should anyone believe you if you're wearing their signature and posting about their services. I mean you're a walking advert for them, even your 2 last posts are praising them in 2 different threads. Is this your way to say "thank you" or are you on a payroll?
GM is a ripoff and 3% discount won't change anything. You'd need to be offering at least 20% to give people a chance at earning anything with them.
Believe what? I haven't posted any untruths i even posted all my payouts on another thread, which i think was 90, added up to i think 2 something dash. Unfortunately people seem to live in this on/off argument, i gave a middle ground viewpoint, based on actually doing it, something 99% of poster cant actually say.
I have my signature the same as you, i post on loads of threads but have knowledge in this area, and have a affiliate code the same way you get rewards for having your signature, so your argument is pointless and mute.
Again your argument is wrong, 2 dash are currently worth 320 usd, i paid 475 usd in march, so like i said roi should be 6 months unless difficulty increases vastly. Maybe i got a good deal with dash but i researched it beforehand.
i post because i get tied of the same ignorami posting the same rubbish without anyone actually offering another valid viewpoint.
Cloud mining offers a way to mine actual coins, and remember GM allows you to use you hash rate against other coins on some contracts.
Tell me, why should anyone believe you if you're wearing their signature and posting about their services. I mean you're a walking advert for them, even your 2 last posts are praising them in 2 different threads. Is this your way to say "thank you" or are you on a payroll?
GM is a ripoff and 3% discount won't change anything. You'd need to be offering at least 20% to give people a chance at earning anything with them.
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