Bitcoin cloud mining reddit. Its a question of efficiency of your profit though.

Bitcoin cloud mining reddit You are better off putting a pre-order in on mining equipment. io is a total ripoff. Cloud mining is just a scheme to take advantage of naive people in the bitcoin space. CryptoFF. That's the best one, in my opinion, of the bunch. 18M subscribers in the personalfinance community. Been looking into possibly mine crypto for a while and due to low income I was wondering if cloud mining would actually be viable, I’m currently looking at IQ Mining and the monthly income for a year contract on their most basic option seems ok to me as any extra $ will help me tons, the thing is, has anyone here ever tried cloud mining? GDMining offers free cloud mining contracts, allowing users to easily participate in cryptocurrency mining and take full advantage of Bitcoin appreciation. So, is cloud mining contract utilization a feasible idea? If yes, which one to choose? Currently looking at Mining City. So back in 2018 I was getting into bitcoin and discovered what they called cloud mining. But let's be realistic - the high profit under the contract provided the growth of bitcoin, and not the ecos itself. • Cloud mining improves mining accessibility but also carries risk. Its a question of efficiency of your profit though. Click my link below and get started for free with 900 GH/s on signup. Members Online Is this a scam? AMHASH1 is a cloud mining scheme that has proof of mining and a long track record, plus low maintenance costs and a pretty cheap unit cost. Sort by: Best. Zenhashes appears the most professional and well run but also has the lowest returns. Check any pics your proposed company posts, make sure they're not someone else's machines. Avoid fake links and platforms like this, If you don't want to go through what I experienced, I and my husband saved through our business for a lamb truck which was about $370,000. post I've seen on Reddit. Stormgain isn't mining, it's a Bitcoin Faucet, trying to push you to pay fees for transacting/using the site. 00 and get scammed by a fake Asian man who promised to double our profit if we invested in a fake mining pool site, but all thanks and glory to @Cavecyber on instagram for getting back all our scammed money, they're 4. What I have seen is that a very few such services have negative reviews. Nov 13, 2024 · The 5 best Bitcoin cloud mining platforms: Examining top choices in 2024. Jul 27, 2018 · A major cloud mining service terminates Bitcoin contracts, stripping users of yearly fees. I think the operation was that they needed help with the electricity costs of running their computers 24/7 to mine the bitcoin and in turn you were given an X amount They invest 500 USD , cloud mining company pays back 300 USd of BTC over the next year , but because Bitcoin appreciated in value that BTC is now worth 800 dollars and the client is happy because they don't have the know how to compare what that investment would be worth if they simply sat on it and waited for their bitcoin to appreciate in value. 5K subscribers in the cloudmining community. -The satoshi (Ember) represents one hundred millionths of a bitcoin. PC: Mining City. Koindusk. Then if you lose money because you overpaid or because the exchange rate fell during those days, that's your loss, not a scam All the current cloud mining contracts require a single advance fee for an indefinite period. The profitability of cloud mining is often questionable, and users may end up losing money or earning less than if they had simply purchased and held Bitcoins. Starting June 15, users that are interested in Bitcoin mining but lack the equipment can subscribe to Binance’s cloud mining services and purchase hashrates for the same. If you were going to buy a contract for $200 or whatever just figure out how to buy $200 of cryptolikely bitcoin. For a mine operator, yes. According to Bitcoin. Two mining pools already control > 50% of the hash rate. NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. Essentially you would pay for a contract to get X amount of bitcoins from bitcoin miners. Cloud mining might seem like a great idea, where you instead of buying expensive mining hardware and set it up, you purchase some mining power for a certain period of time; doing so generates a cash-flow of profit of earnings minus electricity cost deducted by the provider. Much much better to just buy Bitcoin and forget about mining all together, leave that to the big guys. A legitimate cloud mining contract would let you buy your choice of hashrate for a specific number of days. • Cloud mining enables crypto mining without the installation of expensive mining hardware. Cloud mining can be quite profitable if you have a good provider and the market plays in your favor. Small denominations make bitcoin transactions easier to conduct and makes extremely fine transactions readable. The official bitcoin mining forum / subreddit / chat room / place to be! Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. ), and it is considered a business expense that you can deduct. On this day Bitcoin becomes the hardest asset in the world. Users will not need to install and directly run the hardware and related software and leave it all to the Aug 14, 2014 · But we have over a million good hearted people who would be the kind of person to let you know you dropped your wallet in a store. * And the fact that website says "How to Mining Bitcoin" and promises 13% profit per day should tell you instantly that it's a scam. Mine your favorite non-mineable crypto assets! Our 103K subscribers in the BitcoinMining community. Every service that you give your Bitcoin to and they give you some Bitcoin back on regular intervals, hoping to eventually receive more Bitcoin in the long run than you gave away is a scam. r/Bitcoin • This is Bitcoin’s event horizon. Referrer code= 782622122 Share Add a Comment. I've already tested it and it's a legitmate bitcoin cloud mining rig that pays out without any problems. The site is controlled by a few whales pumping and dumping all day long. MasHash offers a $50 free Bitcoin mining bonus. GPU mining hasn't been cost-effective (wear on hardware + cost of electricity) for bitcoin in years. They do daily payouts. Funnier still that most AWS Bitcoin mining demonstrations are of custom software mining on cpus at on-demand pricing. They are not all scams but some are. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Think of your contracts as the same as having a cloud Virtual Private Server host (like DigitalOcean, Google Cloud, Amazon Web Services, etc. Welcome to r/cloudmining! This forum is to discuss **LEGITIMATE** cryptocurrency cloud mining… Splitting up the problem and data correctly on aws dramatically reduces some of your costs that would be associated with having just a bunch of instances managing the gpus attached to them. if buying mining shares was profitable, people wouldn't sell them. * Members Online Posted by u/korabdrg - 4 votes and 16 comments Yes. Research is critical before sending any money. Easiest way to lose your hard earned btc. . The fellow kept dodging questions & acting like he knows something i don't. Granted, infuriated cloud miners took to Twitter and Reddit right away. No way is this cloud mining. Well-established trading mechanisms and experience in hardware coin mining. It's because if someone gets access to someone else's cloud credentials, this is a really common way to try and turn those credentials into a quick buck (spending $100,000 mining $1,000 is just fine when the victim pays the $100,000). All of the clouds will pretty much immediately ban you and likely will lock you Amazon or Google account while they're at it. Binance’s BTC mining subscription service will be active for 180 days, or roughly six months. All you pay for is power however there's an option to reinvest your earned bitcoin to maximize your profits. I have a large hashflare contract and dont believe I will ever break even In other words: Cloud mining WOULD make sense, But the demand-hype in the marketplace prevents this from happening, since there are too many other people willing to buy these mining contracts even if they will lose money --- that it is almost impossible to buy a mining contract that is likely to have high profits for you, or alternatively, that Bitcoin cloud mining has gained a bad reputation primarily because most cloud mining companies are either scams or follow an ineffective business model. Cloud mining is the super passive option where all you have to do is pay for hashrate. Then exchange it if you want for a different currency. If it was a certain 13% profit a day, they wouldn't be selling you the hashpower. I am experimenting with three cloud mining platforms. That's why I'm looking for a simple solution with cloud mining. There are many free cloud mining sites, but MasHash is the best choice for serious miners. Posted by u/kanchegi - 1 vote and no comments So all cloud mining does is outsource risk & reward to the cloud mining contract buyers and makes mining a predictable business instead of a gamble. ive had hilarious conversations recently looking at 200Ghz/1Thz hardware where the pricelist is quite transparent and costs 9. . Ive also invested into Trust Cloud Mining Im on the Pro Plan so i haven't been able to do any withdraws till the end of my contract Ive researched the company pretty hard they can be found and accredited by a lot of verifiable or notable sources but this is the first post I've seen of another user who has made money or profited with their site. Jan 17, 2023 · We’ve rounded up the top contenders for 2024 so potential miners can feel confident in their investments. I don't live in a country where electricity is affordable, I don't want to maintain all the hardware/software and I don't really have time for all that. First, let me go over the risks of mining with real hardware so you can see why people considered cloud mining at first: Bitcoin cloud mining platforms have become a popular alternative to traditional cryptocurrency mining, allowing users to mine Bitcoin without investing in expensive hardware or dealing with the technical challenges of setting up a mining rig. Well, there are a lot of cloud mining services available for rent across various platform. cex. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. You can mine based on Hash algorithms SHA 256, Scrypt , ET-HASH (Ethereum), X-11(DASH) and EquiHASH (ZEC). It would be the same for cloud mining contracts. tax , any mining equipment is considered a business deduction. In the following sections, we are going to take a closer look at the best cloud crypto mining offerings on the market and explore different avenues through which users can secure Proof-of-Work (PoW) networks via cloud services in exchange for mining rewards. Open Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Cloud mining will ALWAYS be a scam, if they make so much money doing their own mining, why do they need you? Even regular mining isn’t even really worth it, not unless you get free electricity and lots of it. All three have so far returned a profit of varying degrees and I have taken out withdrawals successfully. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. I wrote a medium article on my experience with Ecos Am, details about the company and a comparison… Get the Reddit app Scan this QR code to download the app now Ultrafast Bitcoin Cloud Mining . Mining other coins is more practical with commodity hardware, but mining bitcoin nowadays requires some serious infrastructure and dedicated hardware. most purchases around mining, whether it's hardware or cloud mining services, are scams precisely for the reasons you've quoted. It's somewhere between a scam and heavy advertising To get just to *gold*, which is a daily income under $2, you need to do a trading volume of 150000 USDT, which is going to cost you *hundreds* of dollar in trading fees. The ponzi only lasts as long as new users, like yourself, keep giving Bitcoin to the ponzi host. But still, I believe in the growth of bitcoin and I understand that mining it is more profitable than just buying, so I use cloud mining services. 2X harder than gold. Just dont bother with cloud mining. 5 for free ! Some cloud companies don't even have mining farms. 🎁Register now with my reference link below and ge t $4. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning… Oct 23, 2024 · Conclusion: Start Free Cloud Mining With MasHash! Choosing the right platform is important for making money in free Bitcoin mining without upfront fees. cc is a high-quality solution for cloud mining of Dogecoin, Binance Coin, Tron and Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. Some operations actually have hardware running, but others just pretend that they do, and pay out based on a calculation of what that hardware would do if it were actually runningaka a ponzi scheme. To that effect, I will warn new users to consider some things particular to cloud mining. 29994 Total views . Almost always, you will be better off to just buy bitcoin and hold it. • Some of the top cloud mining providers include ECOS, Bakercoin, and YouHodler. The general unit structure of bitcoins has 1 bitcoin (BTC) equivalent to 1,000 millibitcoins (mBTC), 1,000,000 microbitcoins (μBTC), or 100,000,000 satoshis. The April 2024 Bitcoin Halving is the most important date in Bitcoin's 15 year history, second only to the Genesis block on 3 January 2009. Nov 19, 2023 · Cloud mining is a mechanism to mine bitcoin, using rented cloud computing power. Let's be honest - mining, including cloud mining, today is not so much a way to make a profitable investment of money, but a way to support an idea that you believe in. It is not as profitable in the longrun but I’d say it is also lower risk in the shortrun, assuming you don’t get scammed, because you can estimate the amount of bitcoin you’ll get and you pay a set amount at the start without any worries. Ever since last Monday, I've received 5 emails from Google Notifications about Bitcoin mining. Some dude from a huge influencer's discord group tried to persuade me to join their get rich quick Bitcoin mining scheme & then tried to shame me into it. Give up on cloud mining they are almost always scams. Just look at the graphs. com the domain was just registered 5/29/21 but they say they been around for 17 years and 1726 accounts? Reply reply. So a company that will definitely not disappear in a couple of months is a prerequisite for buying a cloud mining contract. They say that 364 days ago (all of them say exactly 364 days, even the one from last week) I registered to an automatic Bitcoin cloud mining service and I've linked my devices to their platform via IP. If bitcoin collapsed down, I would not have received a profit. A Mar 11, 2024 · Bitcoin cloud mining offers an alternative path for those interested in participating in the Bitcoin network without directly managing complex and expensive hardware. It is cloud "losing". I would recommend GoMining it uses NFT powered mining and is probably about one of the most legit cloud mining services I’ve used I currently get about about $10-$13 per day deposited into my BTC wallet the more you invest the more you make you can upgrade your NFT by 2 ways you can upgrade your TH which is the power your miner has same way as like a real miner would have you can also As this continues to happen and the only profitable operations are large miners, won’t this make bitcoin more and more centralised? Yes. But it is important to pick the right platform to invest in. I could go on but suffice to say that overall home mining FAR exceeds cloud mining in every way. Hey, so i stumbled over this Bitcoin Cloud Mining App on the Android Appstore: Official Reddit of UnMineable. if buying cloud mining solutions was profitable, people wouldn't sell them. Your GH will lose value faster than you will btc mining. Cloud mining is really profitable. I already own crypto-currencies, have done some research on stablecoin farming and now I'm interested in cloud mining. The launch of GDMining's new cloud mining plans and affiliate program provides an opportunity for individuals to participate in cryptocurrency mining without the barriers of cost or Mar 24, 2021 · cØûÈԤ ÐásÞ Ó ¿Ê'‰h¹ ³’orZdÞ1Flò- >™œ Êž{+JS ÿ]@ …–o´@aõÊ|B´0«øf,ð­µ2ŸÈKý–9/w qm yi ¿¾> ¼X»h Ų`Ò-= í–¡ÑÛ ¦Œ« DŠÊ°n9 ØÈ íªÙš ¨;L©@×k(Hÿ%§á Ó°G]Â,LWÀ2p†A 0‚ ­ ¸ÊMÌhi غzúåwÁšìÛ•ýa 1ãE î_û×Ü߶~é_³"ûÃx:™ñì á?Í¿U!fEö‡jz yƒTfô§‹ v{ MÏLVd*ÊíoUˆ ¦ ÓpIÆ¿_ ¾Ê¿U!þU Keep it simple and cloud mine with Block Hunter. While it's essential to acknowledge the risks and uncertainties, it provides accessibility by lowering the financial and technical barriers to entry. I chose Hashflare because they are the most trusted cloud mining company operating since 2012. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Small mining contacts are an on ramp to mining for individuals late to the party that want to jump right in as fast as possible. xisy ardyv vwivrn dgz sfv gsluf hrpjb oed dtov jbr