Bitcoin Mining Profit

[Phantom]

In the last six years or so bitcoin mining has changed a lot.

Hardware evolution has taken place like: CPU --> GPU --> FPGA --> ASIC

Mining process has also gone through an evolution: Solo --> Pool --> Cloud Mining

Being in the latest generation of bitcoiner, I preferred to chose Cloud Mining. Currently, I have 10 Ths at www.CloudMining.website. I have not yet made an ROI, but it seems, I'll make it soon.

Previously I tried renting hash power from NiceHash & MRR and mined at solo.ckpool. But, it was a disaster. Though I mined over a week with 10 Ths+, I could not find a single block. It was a total waste of money.

If you have your own share of mining story, where you made profit or loss, please share it with us...

[CanaryInTheMine]

Your decision to mine solo with 10 Ths was incorrect. You should have tried at some leading pool, say Antpool, BTCC pool et all. Mining solo is nothing but gambling.

Lately, I see, cloud mining is emerging as a better option than mining with own hardware over a long term. Hardware degrades with time and maintaining it is a headache. At cloud mining, you pay upfront just like buying an ASIC and you are free from further headache.

[GQM]

CanaryInTheMine is correct, in order to solo mine you should have about 1% of the entire networks mining power. Otherwise your variance will be extremely high, you could get lucky and win the "lottery" but the chance are slim to none.

P2Pool tends to have around 1% and it still has a high variance but tends to balance out over the long term. Anything less and your taking on more risk with the potential for a large payout but the odds are against you.

[btc]

cloud mining



:lmao:

[AdonisValamontes]

Cloud mining is a sham... in 99% of cases

Even companies like Zeushash find creative ways to swap the hashrate you buy and deplete your ROI.

If you ever been to Vegas or any Casino, you know that the house ALWAYS WINS!

To get into mining its a long term capital investment. Its not a picnic in the park. But done right it secures that you will have cash in your retirement age. Thats one way. People want to make money without a RISK, sorry folks, Risk has its rewards if you have a long term strategy you can win. I run our own private pool located in China and the folks that use it, first they know how to listen and take advice and apply a strategy before they waist their $$ on cloud mining , sorry I cant say it without bursting into laughter!

[Phantom]

Cloud mining is a sham... in 99% of cases

Even companies like Zeushash find creative ways to swap the hashrate you buy and deplete your ROI.

If you ever been to Vegas or any Casino, you know that the house ALWAYS WINS!

To get into mining its a long term capital investment. Its not a picnic in the park. But done right it secures that you will have cash in your retirement age. Thats one way. People want to make money without a RISK, sorry folks, Risk has its rewards if you have a long term strategy you can win. I run our own private pool located in China and the folks that use it, first they know how to listen and take advice and apply a strategy before they waist their $$ on cloud mining , sorry I cant say it without bursting into laughter!

True, I was scammed at few cloud mining operations like PB mining, AM hash etc. But, www.CloudMining.website has been consistent in payment for almost a year. Here is the payment that I received yesterday...

https://blockchain.info/tx/fa6879a394db ... f421369628

[ERt1F2Wvyr]

I agree with some of the sentiments in this thread that cloud mining is basically nearly always a scam. In fact it's actually one of the most effective ways to run a Ponzi. Also why would anyone with that amount of mining capacity rent it out to the public on a relatively very small scale. When it'd be a whole lot easier and more profitable to just hash for themselves.

[Phantom]

I agree with some of the sentiments in this thread that cloud mining is basically nearly always a scam. In fact it's actually one of the most effective ways to run a Ponzi. Also why would anyone with that amount of mining capacity rent it out to the public on a relatively very small scale. When it'd be a whole lot easier and more profitable to just hash for themselves.

The same reason ASIC manufacturers sell miners to the public rather than mining for themselves. It is about outsourcing the risk.

By the way, just a few hour ago I received another payment from www.CloudMining.website...

https://blockchain.info/tx/6b2357e188ae ... 0377610233

Their service seems to be very consistent and transparent so far. They are even publishing their payment history of last one year...

www.cloudmining.website/payments.php

[jermwerty]

Publishing payment history? Who gives a sh*t. I don't get it - you would have to know HOW MUCH HASHPOWER WAS PURCHASED and equate that to payout on an INDIVIDUAL BASIS.

Go check yourself - are you getting whats promised?

http://www.cloudmining.website/calculator.php

If you have 10TH how much have you received? I hope you are getting 2.4BTC/month!

Are you not? If so, why not?

The problem with this site that screams SCAM to me is there is ALWAYS a MAINTENANCE FEE with real cloud mining.

But yet these guys state:

"10.How long does a contract last ?

Duration of all contracts are minimum one year or the longevity of the miner, whichever is higher."

So for all we know the "miner" you bought is an AntMiner S1 and they will declare it "unprofitable" any day now.

CLOUD MINING: IF IT SEEMS TOO GOOD TO BE TRUE IT PROBABLY IS!

If you want a REAL clouldmining service, check out ANTMINER's HASHNET.

[camaro]

The best site to double your bitcoin per month, read tutorial here camarosmith.wordpress.com

the best option is to mine your own bitcoin, buy expensive ASIC hardware,, this only works if you have source of cheap electricity, bitminter is a good mining pool, all you need is money as a start, double your money fist then buy those equipments.

[Phantom]

I am receiving my payment every week normally from www.CloudMining.website. Here is today's payout...

https://blockchain.info/tx/582e4b3b50b3 ... 53e9d47424

If something unexpected does not happen, I'll make ROI soon.

[Phantom]

I am receiving my payment every week normally from http://www.CloudMining.website. Here is today's payout...

https://blockchain.info/tx/582e4b3b50b3 ... 53e9d47424

If something unexpected does not happen, I'll make ROI soon.

Here is an update.

I have made ROI with www.CloudMining.website and continue to receive payments from them. Here is the latest payment that I received...

https://blockchain.info/tx/342251895e9a ... 3b53284fd1