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Cloud mining - is that ok ?

Discussion in 'CryptoCurrency' started by SeLecTeD, Jan 25, 2015.

  1. SeLecTeD

    SeLecTeD Regular Member

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    I recently saw some hosting providers providing mining services. What do you think about "cloud mining" ? Is it rentable ?
     
  2. tajmahal

    tajmahal Regular Member

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    If that was rentable than they would do it. Just think why would you sell a service if you could monetize it for yourself. not logical for me..
     
  3. campbellfenner

    campbellfenner Newbie

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    The big question is, how would you go about it? I mean you need to have access to sufficient quantity of clouds ?
     
  4. nsinalis11

    nsinalis11 BANNED BANNED

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    Mining is cooll,but you must fint the right company to give your money,there are lot of scumps be carefull !!
     
  5. west555

    west555 Regular Member

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    If you can get it for free like i did than yes it's profitable, else it will take a long time to get positive ROI
     
  6. demonicsheikh

    demonicsheikh Registered Member

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    Its not profitable. The prices were high then it would be profitable. Other than that the monthly fees would take the profit out of your hand plus the montly fees.
     
  7. sbndnb

    sbndnb Regular Member

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    I'm pretty sure it has been done, but I don't think it's anywhere near profitable at this point.
    If you're looking to outsource https://leaserig.net/ would be an option, I've leased rigs to mine altcoins at their launch throughout 2014 without any issues. I don't know you'll make a profit mining BTC with these though...
     
    Last edited: Feb 12, 2015
  8. LleixG

    LleixG Senior Member

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    It's not that profitable anyway as ROI has increased a lot and you could never see ROI if the btc price goes down or the difficulty increase
     
  9. jamulair

    jamulair Junior Member

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    Its all about the sale. From them hosting the cloud software to be able to mine from, people buy that, then mine. Which in turn costs more for the buyer but brings in a bigger profit margin for the seller.
     
  10. King Bruce

    King Bruce Newbie

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    I am a bitcoin miner and I wouldn't trust cloud miners eveyday a new one is going out of business. There are way better ways to earn in bitcoin. Trust me I do cloud mining.
     
  11. gton123

    gton123 Newbie

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    6 months ago yes,but now not profitable
     
  12. John Braun

    John Braun Newbie

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    It's too hard for mining wright now....
     
  13. excash

    excash Newbie

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    No it is not rentable! Too hight difficult!
     
  14. King Bruce

    King Bruce Newbie

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    I can say I will break even come next week on my one mining contract I purchased back in in dec. So I will be completely in the the green on profits. Mining is a investment like anything else it has its risk and also it rewards. Before you do cloud mining contact me and I will tell you which provider is showing the best if you want to earn that way. kingbruce4 skype me.
     
    • Thanks Thanks x 1
  15. miki77

    miki77 Registered Member

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    Cloud mining is in which you purchase a share of a mining farm owned by that company and the company pays you in bitcoin according to how many shares you own. They're are many algorithms for crypto but most are either sha-256 (bitcoin) and scrypt (most altcoins). Sha-256 power is usually sold in the form of GH's while scrypt power is sold in MH's. If you want you can rent mining equipment but it is highly unprofitable unless you know what coin is going to go up in value soon. Mining in general is unprofitable unless you own a database, which these companies do. The most reliable/ profitable company at the moment that is offering hashing power is hashnest. hashnest is owned by bitmain which is known for making many high quality miners, they are based in China. I use many sites for comparing ROI at many sites, you can pm me for it as i dont have enough rep to post it here. But keep in mind to do your research on a company before investing, a LOT of companies are ponzis, if your going to invest make sure the company has valid contact info and pictures of their miners or else it is a no go.
     
  16. Tiddlywink19

    Tiddlywink19 Regular Member

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    Cloud mining is fine, it just has a separate set of risks compared to conventional mining.
     
  17. allcloudminers

    allcloudminers Newbie

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    we created allcloudminers so it will be easier to select a cloudmining company to sign up for. We do have account in all listed companies and we will directly delist them in any terms of problems experienced. Please visit and contact us if you have any questions about cloudmining!
     
  18. DrFreemna

    DrFreemna Registered Member

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    Earlier this year two globally recognized cloud hashing companies, CEX IO and CloudHashing dropped out of business. With current cryptocurrency market state, this kind of business just isn't sustainable anymore.
     
  19. allcloudminers

    allcloudminers Newbie

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    CEX IO and cloud hashing dropped out of business because they were running old equipment and new companies with new and more efficient equipment popped up. This risk is involved in all kind of business...
     
  20. Shadexpwn

    Shadexpwn Elite Member

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    Usually Cloud mining isn't profitable until about the 5th or 7th month depending on the markets.

    Don't ever worry about losing as once the contract is locked in and Bitcoins increase in value again it won't ever be forgotten.