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Cloud mining
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Cloud mining

I want to ask following question.
Which 1 do you have good experience with.

For BTC
  1. Which cloud mining do you prefer?20 votes
    1. Genesis Mining
      25.00%
    2. HashFlare
      15.00%
    3. Other
      60.00%

Comments

  • If cloud mining was profitable, don't you think the companies selling the mining services would just mine the coins instead of selling the hashing power?

  • pbgbenpbgben Member, Host Rep

    @Jonchun said:
    If cloud mining was profitable, don't you think the companies selling the mining services would just mine the coins instead of selling the hashing power?

    This is a conundrum, but is applied to the btc market and asic miners? Why sell them if they can just control the market themselves???

  • @Jonchun said:
    If cloud mining was profitable, don't you think the companies selling the mining services would just mine the coins instead of selling the hashing power?

    Well I am not totally agree but some point you might right

  • Any reviews for hashflare?
    Ty

  • MikeAMikeA Member, Patron Provider

    @pbgben said:

    @Jonchun said:
    If cloud mining was profitable, don't you think the companies selling the mining services would just mine the coins instead of selling the hashing power?

    This is a conundrum, but is applied to the btc market and asic miners? Why sell them if they can just control the market themselves???

    Selling physical item for a one time cost is more reliable than building your own hardware to do a task that fluctuates in return.

  • Ole_JuulOle_Juul Member
    edited August 2017

    MikeA said: Selling physical item for a one time cost is more reliable than building your own hardware to do a task that fluctuates in return.

    Buying a physical item in a world where that physical item can become obsolete in a matter of months, makes renting more sensible.

    I note that people used to mine BTC with CPU and then that became a negative gain endeavor. You'd lose money if you did that. So things moved to GPU mining. Well guess what, that became a losing proposition. So they moved to whatever generation of ASICs they're using now. How long will it take until that is also a loosing proposition and you need the next generation to make a profit?

  • WSSWSS Member

    @Ole_Juul said:

    MikeA said: Selling physical item for a one time cost is more reliable than building your own hardware to do a task that fluctuates in return.

    I'm not suggesting that cloud mining is profitable (I just don't know about it) but buying a physical item in a world where that physical item can become obsolete in a matter of months, makes renting more sensible.

    I note that people used to mine BTC with CPU and then that became a negative gain endeavor. You'd lose money if you did that. So things moved to GPU mining. Well guess what, that became a losing proposition. So they moved to whatever generation of ASICs they're using now. How long will it take until that is also a loosing proposition and you need the next generation to make a profit?

    STOP TALKING SENSE. THEY'RE EMPOWERING THE BUTTCOIN ENTERPRISE!?!

  • WSS said: STOP TALKING SENSE. THEY'RE EMPOWERING THE BUTTCOIN ENTERPRISE!?!

    You're right. It's probably better that they all remain ignorant, so there is more profit for the rest of us. And then too, perhaps we can sell them something.

  • WSSWSS Member

    @Ole_Juul said:
    You're right. It's probably better that they all remain ignorant, so there is more profit for the rest of us. And then too, perhaps we can sell them something.

    I have actual REAL items to sell and I often find it difficult to do so because everybody wants a better deal. OK, price has just raised $200. No? Now it has raised $250. Still no? $300. Ohh.. you like that first deal? Call me back in a week.

  • ReaperofpowerReaperofpower Member
    edited August 2017

    I mine with Hashnest, BTC and LTC they offer both hash types plus the option to sell to other users later.. So far paid off
    https://i.imgur.com/u7bP0zN.png

    Scrypt Hash http://hashl3.afastserver.com

  • I am all on hashflare. Is it good company? Someone review please.

  • Buy one for the price of two and get the second one free!

  • @Ole_Juul said:
    Buy one for the price of two and get the second one free!

    Bear to explain||??

  • @Reaperofpower said:
    I mine with Hashnest, BTC and LTC they offer both hash types plus the option to sell to other users later.. So far paid off
    https://i.imgur.com/u7bP0zN.png

    Scrypt Hash http://hashl3.afastserver.com

    How long did it take you to mine 8 ltc and what device/how many are you using on hashnest?

  • vishalpatelz said: Bear to explain||??

    I've got a deal for you!

  • Cloud mining? What scam will they come up with next

  • AlexBarakovAlexBarakov Patron Provider, Veteran
    edited August 2017

    @lnx1001 said:
    Cloud mining? What scam will they come up with next

    BMaaS - bitcoin mining as a service.

  • AlexBarakov said: bitcoin mining as a service.

    With another fork coming up soon, we'll end up with two forks and no knife. It's hard to get good service nowadays.

  • @Ole_Juul said:

    AlexBarakov said: bitcoin mining as a service.

    With another fork coming up soon, we'll end up with two forks and no knife. It's hard to get good service nowadays.

    If you have too many forks sell one and buy a sporkife, the all in one tool for BMaaS when you are hungry

  • WSSWSS Member

    @AlexBarakov said:

    @lnx1001 said:
    Cloud mining? What scam will they come up with next

    BMaaS - bitcoin mining as a service.

    It'll be in systemd within the week!

    Thanked by 1vimalware
  • What should be average ROI for any cloud mining.

  • 1 year for scammer, and 3 years for half scammer

  • @ErawanArifNugroho said:
    1 year for scammer, and 3 years for half scammer

    Holyshit so how to determine scammer vs non scammer.
    Ty

  • ReaperofpowerReaperofpower Member
    edited August 2017

    @lurch said:
    How long did it take you to mine 8 ltc and what device/how many are you using on hashnest?

    I'm mining with L3+ hashes. You buy per hash and they last forever unless they become not profitable or you sell them. I started in end May 2017

  • @Reaperofpower said:

    @lurch said:
    How long did it take you to mine 8 ltc and what device/how many are you using on hashnest?

    I'm mining with L3+ hashes. You buy per hash and they last forever unless they become not profitable or you sell them. I started in end May 2017

    How are you doing with that?

  • Great.. buy hashes when there low then sell back when they are high. If you see my screen shot I have 37 mh at right now and the cost is only the value of 2 of them.. profitability is cost + payout - maintenance. One hash is currently .25 ltc

  • I used to use nicehash.com, but yeah you're probably better off just using an exchange to convert BTC into whatever altcoin you're chasing (you can find the more obscure ones on the Cryptopia NZ exchange).

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