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CloudHashing to Earn BitCoins

Discussion in 'BlackHat Lounge' started by S1lv3rdo7, Sep 18, 2013.

  1. S1lv3rdo7

    S1lv3rdo7 Regular Member

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    I heard an advertisement on the radio for cloudhashing.com (not affiliated with the site) But they basically offer you a way to earn bitcoins through their hardware on the cloud. They have contracts for individuals and companies. You buy a contract and it pans out for 12 months.

    Given the volatility of BitCoins I was wondering if this was such a good idea or if anyone has heard/tried it.
     
  2. eventheodd

    eventheodd Newbie

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    You're probably a lot better off buying bonds with a guaranteed rate of return. You're essentially buying futures in a currency that's known to be super unstable. You might make some good coin, but you're much more likely to get burned IMO.
     
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  3. noseo

    noseo Regular Member

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    I wouldn't invest in anything advertised on the radio.

    In investing, you get what you don't pay for... and here you're paying for radio slots.
     
  4. Parrotfish2005

    Parrotfish2005 Junior Member

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    I agree probably not the best investment at this time. BitCoins has been a big pain to deal with in my experience, and very unstable. I made a few bucks early on, then recently lost when I had to sell them. Be careful unless you have surplus money to invest..
     
  5. Patel

    Patel Senior Member

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    Bitcoins were probably one of the best investments I have ever made. Almost a 3-4x return on some of my coins. (Although technically $0 since I havn't sold them)

    Cloudhashing looks like a mining website, and the difficulty to mine new coins is rediculous now. You need alot of computing power with ASIC miners to make a good return now. You aren't going to generate enough Bitcoin to even pay for your electricity costs unless your mining on a powerful device. Home desktop? Forget it.

    There are alot of new liquidity options coming into the market as well, Bitinstant just announced that they will credit your bank account within 30 minutes after you sell them your coins. Its a pretty lucrative market.
     
  6. virtualpurity

    virtualpurity Jr. VIP Jr. VIP

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    BTC`s are very unstable, their price variate`s a lot, buying a 12 month contract for btc mining is not what i would recommend.
     
  7. S1lv3rdo7

    S1lv3rdo7 Regular Member

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    I'm glad I didn't do it, It honestly kind of reminded me of a HYIP. I got burned bad jumping in and out of those expecting high returns.
     
  8. fredthered

    fredthered Registered Member

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    It sounds interesting but I'm amazed it's profitable even at the cloud level. I mean, you're talking about using a ton of GPUs, the only way I see the benefit of the cloud is in sharing a ton of GPUs with some decreasing costs with scale with others. It may as well be a single factory, I think the "cloud" part is a bit of a red herring.

    12 month contract? Forget it! Check out bitcointalk forum and see what they think there.