why is there no cloud-mining now? - page 2.

fistfullofbtc

full member

Activity: 210

Merit: 100

Quote from: iqlimasyadiqa on June 15, 2017, 05:39:45 PM

Quote from: ethereumhunter on June 14, 2017, 05:17:10 PM

because i think people is getting smart to choose cloud mining and i think they can used the calculation on how much they can get the profit with limited of hashrate. especially to mining bitcoin, we need a big hashrate to make good income in a day, beside that to mining altcoin, we need to the same big hashrate so we can make much of amount. we know that many cloud mining become scam or cloud mining is not profitable again because the difficulty of bitcoin is increase and it makes too difficult to mining.

I do not recommend using cloud mining. Whatever outcome we get will definitely make us or others feel harmed.
This can trigger bad image of bitcoin investment by many people. So cloud mining is not a solution to earn income.

i paid 3000usd for my mining rig and electricity and all the other gubbins.

some people want to mine but don;t want the hassle of the kit etc. 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.

not everyone wants to trade maybe they just want a steady stream of coins on a daily basis. my mining rig will take 12 months for roi on best case.

People should be allowed to make up there minds with all information available, you wont get rich from it but it will generally return better than a bank i have found. i don't follow the crowds i like to diversify, so owning coins, mining them both cloud and physically covers all bases for me.

iqlimasyadiqa

legendary

Activity: 1596

Merit: 1011

Quote from: ethereumhunter on June 14, 2017, 05:17:10 PM

because i think people is getting smart to choose cloud mining and i think they can used the calculation on how much they can get the profit with limited of hashrate. especially to mining bitcoin, we need a big hashrate to make good income in a day, beside that to mining altcoin, we need to the same big hashrate so we can make much of amount. we know that many cloud mining become scam or cloud mining is not profitable again because the difficulty of bitcoin is increase and it makes too difficult to mining.

I do not recommend using cloud mining. Whatever outcome we get will definitely make us or others feel harmed.
This can trigger bad image of bitcoin investment by many people. So cloud mining is not a solution to earn income.

Wipro

hero member

Activity: 924

Merit: 512

Quote from: marcuslong on June 14, 2017, 06:12:05 PM

I saw lots of cloud mining advertising at the social media and most of the people nowadays are don't want to waste their money for this crap investment programs where you're the one who gonna buy the hash profit and it will mine it for you the best one is buy an original ant miner and start with your own business with mining.

In facebook and twitter we may see that. However, there is much ad about the cloud mining or doubling. These two are most crappy option in bitcoin investments.
Genesis mining is only one cloud option just be a discussion in this section as well. Better you can avoid any cloud mining because all are comes with ponzi schemes.

marcuslong

legendary

Activity: 1036

Merit: 1002

I saw lots of cloud mining advertising at the social media and most of the people nowadays are don't want to waste their money for this crap investment programs where you're the one who gonna buy the hash profit and it will mine it for you the best one is buy an original ant miner and start with your own business with mining.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

because i think people is getting smart to choose cloud mining and i think they can used the calculation on how much they can get the profit with limited of hashrate. especially to mining bitcoin, we need a big hashrate to make good income in a day, beside that to mining altcoin, we need to the same big hashrate so we can make much of amount. we know that many cloud mining become scam or cloud mining is not profitable again because the difficulty of bitcoin is increase and it makes too difficult to mining.

raymond541

hero member

Activity: 821

Merit: 501

scammers understand that people are now smart.people knows cloud mining sites are ponzi scheme.I invest bitcoin many site but at the end I cant even get back my investment.I Just can tell you keep away from Cloud Mining.withdraw your investment soon otherwise you have big chance to lose your investment.I was try cex.io well known site but lose my investment.

vasrasus

hero member

Activity: 946

Merit: 500

Bcnex - The Ultimate Blockchain Trading Platform

Cloudmining is another form of hyip. Hyip is not famous anymore because of ICO. And now many scammers are launching an ICO to scam others. Scammers are also improving their method and cloudmining are left behind Grin

LTU_btc

legendary

Activity: 3234

Merit: 1375

Slava Ukraini!

If business want offer legit cloud mining, they would need big initial investment. And after all they can't guarantee ROI for their investors, or it would be very low and people wouldn't be interested to invest.
Also, now it would be hard get users trust after all these cloud mining scams, because now people are looking very suspicious into cloud mining projects.
Freebitco.in is sharing part of mining operations profit with their users and they are giving fixed interest.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: swogerino on June 13, 2017, 02:16:02 PM

I wonder what they gain from this behavior as I sold my Ghs and I am out of this website for good. Not worth the time. Many people say this is the only true cloud mining but in my experience this is not true cloud mining at all.

What they gain? It's obvious -- they keep as much of the invested funds within their system. You having sold your GHS shares just means that the new owner of your previous shares will be going through the same annoyances. I never understand why people despite all the warnings to not invest into cloud mining, they ignore it, and proceed anyway.... Glad that you got out. May I know how much of your initial investment you managed to pull out?

Qartada

hero member

Activity: 546

Merit: 500

Quote from: BrewMaster on June 13, 2017, 12:20:47 PM

Quote from: betlord90 on June 13, 2017, 02:27:10 AM

Its because real mining business doesn't find it profitable anymore actually you can read more facts about it when you search it on google, And the only cloudmining left standing right now is Nicehash,genisis-mining and hashflare but they are not truly profitable and its very not worth it to invest there if you calculate your profits upon investing at them for long time periods.

and also i find the reason why the cloudmining (not mining) is not profitable is an intentionally bad design to make it more profitable for the owners not the investors.

That's pretty obvious. Bitcoin mining is designed to only just be profitable.

Cloud mining companies still exist and receive huge investments, but the way that cloud mining companies manage to receive these investments is by misleading investments with estimated ROI times and the income that they will receive. The estimated time to ROI is always based on the current difficulty - but when the price rises dramatically in a short time, the difficulty just takes a bit longer to catch up. A short way through their contract people start realising that their profits are decreasing, as they should. As soon as difficulty catches up with price, cloud mining fails because the company makes profit on top of what they're paying users.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

There is Hashnest which operates similarly to Ghash.io but a bit more in a shady way. Even when price of bitcoin is 3000 dollars they don't give you the profit you deserve citing all kinds of service maintenance. I wonder what they gain from this behavior as I sold my Ghs and I am out of this website for good. Not worth the time. Many people say this is the only true cloud mining but in my experience this is not true cloud mining at all.

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

There are few real cloud mining, but bitcoin mining is unprofitable because bitcoin mining difficulty is very high even high bitcoin price won't cover electricity/maintenance fees due to chinise miners who have various advantage such as cheap electricity, ASIC manufactured in china which save import/shipping fees and good mining location.
Cloud mining looks dead because it's not possible to earn profit, people afraid due to ponzi/scam cloud mining and altcoin mining looks more promosing.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: betlord90 on June 13, 2017, 02:27:10 AM

Its because real mining business doesn't find it profitable anymore actually you can read more facts about it when you search it on google, And the only cloudmining left standing right now is Nicehash,genisis-mining and hashflare but they are not truly profitable and its very not worth it to invest there if you calculate your profits upon investing at them for long time periods.

no actually i can't find anything about "why mining business is not profitable" on the google. and also i believe it IS profitable and it is very profitable in fact.

have you checked out price and the rewards lately?
price is above $2700 and a block reward is more than 15.5BTC (12.5 + 3+) which is equal to $42000

and also i find the reason why the cloudmining (not mining) is not profitable is an intentionally bad design to make it more profitable for the owners not the investors.

SONG GEET

hero member

Activity: 700

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

The only one that still exist and considered as legit cloud mining platform is genesis mining but there will always be risk of losing when you buy contract with them. Their price also fluctuates with price of bitcoin so if bitcoin price drops dramatically you may end up with nothing as profit.

BlackPanda

legendary

Activity: 1414

Merit: 1001

Quote from: mattermaster on June 11, 2017, 10:44:40 PM

Infact, whether you talk about a real or a scam bitcoin mining programs, there is no trustable mining on the whole internet.
All are ponzi scheme platforms even if they pay you for awhile to build their trust among people.

I am very disappointed with the cloud mining system. Until now I have never made this investment, it is just a scam and we will incur losses. The owners of the cloud mining site just take our money without leaving a single bit.

cissrawk

sr. member

Activity: 1218

Merit: 410

Secure your crypto : https://notyourkeys.org

i dont know a lot about cloud mining but from i see some threads in this forum. They always say "Cloud mining itsnt profitable anymore". But i know still use hashflare, genesis and hashing24 since hashing24 is part of bitfury so i think hashing24 is better choice.
But yeah, all investment program like cloud mining can close someday(or maybe become scam) we will never know that.

betlord90

hero member

Activity: 630

Merit: 500

Quote from: BrewMaster on June 11, 2017, 12:15:34 PM

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?

Its because real mining business doesn't find it profitable anymore actually you can read more facts about it when you search it on google, And the only cloudmining left standing right now is Nicehash,genisis-mining and hashflare but they are not truly profitable and its very not worth it to invest there if you calculate your profits upon investing at them for long time periods.

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

There is cloud mining, GM provides it, Hashflare provides it. Here is the link:

https://bitcointalksearch.org/topic/1-how-to-make-money-in-crypto-with-minerjoe-hashflare-1579210

Whether you have enough skill to actually reach ROI, that s a separate question. I always prefer building my own rigs and using cloud mining alternatives, like PoS for example.

Here is another link for you for PoS:

https://bitcointalksearch.org/topic/how-to-make-serious-money-by-investing-into-proof-of-stake-pos-and-masternodes-1931773

Let me know if you need help, I ve been in crypto for a long time.

pinkflower

sr. member

Activity: 868

Merit: 259

Quote from: BrewMaster on June 11, 2017, 12:15:34 PM

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?

There are only maybe a couple of cloud miners that can give you ROI but dont expect high profits. The model of cloud mining was proven to be unprofitable. A lot of players came in and failed because they simply cant compete with the biggest players in the space. Plain and simple.

keyscore44

legendary

Activity: 2002

Merit: 1016

Actually cloud mining is still working, but not as it was in past. We still can find farms as Hashnest and Genesis-Mining, but nowadays more popular is just renting place for mining rigs.
Guys who know how to construct and take care of farm just looking for place with very cheap electricity costs and then looking for investors who want buy ASICs and use their place to mine BTC (or other crypto). Good example of project like this is this guy:
https://bitcointalksearch.org/topic/sinohash-second-facility-opens-for-preorder-1694162

Topic: why is there no cloud-mining now? - page 2. (Read 1796 times)