Cloud Mining

Sigvat

Hi every one I wondering how good cloud mining is.
I was wondering if it worth getting involved in cloud mining.
Lots of company are saying they you can save money by not having energy cost or the cost replacement parts

dose any one have any experience with the cloud mining company’s?

are they as good they say or is it another mining scam?

Thanks every one looking forward to you comments

Sigvat

CloudScrypt

Hi Sigvat,

It depends on your wants/limits and goals really. But there are a few viable choices out there.

If you don’t want to buy a rig and run it yourself then you can always lease from services such as betarigs.com, you could also buy a rig and have it hosted by someone. Good ways to avoid the capital investment, noise, etc but ultimately not as profitable as running yourself.

Sigvat

I having a friend who invested his money in to a cloud mining company called Cloud Hashing.
He’s been tell me that there support is awful and he has been delay on his mining because of hardware installment.
which is also on there twitter page https://twitter.com/cloudhashing.
are there any legitimate cloud mining company out there who offer and support there customer what they promise

thanks for all you support
Sigvat

Old discussion shifted here.

[quote name=“wrapper” post=“57484” timestamp=“1391688200”]
The only way to secure Feathercoin or Bitcoin in the long run is to ditribute hash power, such that one person or pool cannot join together to manipulate the Block chain difficulty.

I have suggested this needs to be by promoting each merchant to have a small (ASIC) miner. They know they are the bank, and will be the main users of the coins.

The trouble with Cloud mining it is open to more than one abuse and is anti distributed network(ie centralising).

That’s apart from the fact they are grooming scammers by tempting them with an easy Con.
[/quote]

[quote author=CloudScrypt link=topic=7318.msg57485#msg57485 date=1391688871]

[quote author=wrapper link=topic=7318.msg57484#msg57484 date=1391688200]
That’s apart from the fact they are grooming scammers by tempting them with an easy Con.
[/quote]

Could you clarify that? Not sure I understand…
[/quote]

Ignition75

[quote name=“Sigvat” post=“57482” timestamp=“1391688021”]
I having a friend who invested his money in to a cloud mining company called Cloud Hashing.
He’s been tell me that there support is awful and he has been delay on his mining because of hardware installment.
which is also on there twitter page https://twitter.com/cloudhashing.
are there any legitimate cloud mining company out there who offer and support there customer what they promise

thanks for all you support
Sigvat
[/quote]

I have a few contracts with cloud hashing and they are hosting my servers when cointerra finish building them, you’re not filling me with a lot of confidence :(

I haven’t had to log a support request but they’ve paid out on time every time so far…

mhamilton79

I also have some contracts with cloud hashing - their support is simply the worst i have ever come across in the history of the internet - see the comments on their own face book page below;

https://www.facebook.com/cloudhashing

It’s my experience with them that has driven me to set up my own business directly completing with them. to be honest with the rubbish support and customer service they offer it wont even be a competition…

They truly couldn’t give a crap about their customers. They are not a scam in anyway though - they payout etc but customer service is non-existent , piss poor

Ignition75

[quote name=“mhamilton79” post=“57525” timestamp=“1391698050”]
I also have some contracts with cloud hashing - their support is simply the worst i have ever come across in the history of the internet - see the comments on their own face book page below;

https://www.facebook.com/cloudhashing

It’s my experience with them that has driven me to set up my own business directly completing with them. to be honest with the rubbish support and customer service they offer it wont even be a competition…

They truly couldn’t give a crap about their customers. They are not a scam in anyway though - they payout etc but customer service is non-existent , piss poor
[/quote]

Awwwe… When I pre-ordered my servers last year CoinTerra didn’t know who their hosting partner was going to be… Since then I’ve started mining alt currencies and I’ve got some space in a warehouse now I could potentially put the servers, maybe I can cancel my hosting contract, I will look into it.

Thanks for the heads up…

eaxvac

When new coins are out. Deploy huge amount of servers on Windows Azure/Amazon AWS for a week or two.

Afterwards when price skyrocket, sell them. Enjoy $$.

Ignition75

[quote name=“eaxvac” post=“57559” timestamp=“1391705409”]
When new coins are out. Deploy huge amount of servers on Windows Azure/Amazon AWS for a week or two.

Afterwards when price skyrocket, sell them. Enjoy $$.
[/quote]

I got screwed on eBay buying Butterfly Labs Jalapenos waaaay back when I had absolutely no idea, so for this round of ASIC chip upgrades, I’ve ordered 10 of these [url=http://www.blackarrowsoftware.com/store/prospero-x-1.html?sl=en]http://www.blackarrowsoftware.com/store/prospero-x-1.html?sl=en[/url] to drip feed on eBay at one a week for a little payback ;D

They were due end of Feb, but now they have delayed until April, so my plan is back firing >:(

jti8899

[quote name=“Calem” post=“57497” timestamp=“1391692030”]
Old discussion shifted here.

[quote author=wrapper link=topic=7318.msg57484#msg57484 date=1391688200]
The only way to secure Feathercoin or Bitcoin in the long run is to ditribute hash power, such that one person or pool cannot join together to manipulate the Block chain difficulty.

I have suggested this needs to be by promoting each merchant to have a small (ASIC) miner. They know they are the bank, and will be the main users of the coins.

The trouble with Cloud mining it is open to more than one abuse and is anti distributed network(ie centralising).

That’s apart from the fact they are grooming scammers by tempting them with an easy Con.
[/quote]

[quote author=CloudScrypt link=topic=7318.msg57485#msg57485 date=1391688871]

[quote author=wrapper link=topic=7318.msg57484#msg57484 date=1391688200]
That’s apart from the fact they are grooming scammers by tempting them with an easy Con.
[/quote]

Could you clarify that? Not sure I understand…
[/quote]
[/quote]

Calem,

pretty disappointed in your use of “staff position” on this one. I guess there is no point in sharing an opposing opinion to yours eh? So I will have to just agree! “If you don’t own your own rig, your not committed”

Not really encouraging to share thoughts and opinions freely here now. I can see your more committed then me so I will respectfully bow out of this conversation.

~//~

Thytos

It’s curious how this subject has come across several places in our forum already…

Cloud mining services for scrypt mining will eventually be established. It has happened with bitcoin and I really can’t see a good reason why it wont happen with feathercoin (and other alt coins). Like any new thing that can potencially generate $, it is prone to scammers… but then again, all of the crypto world is prone to scammers but that doesnt stopped us from being here and try to do some good.

If there is “easy” money to be made somewhere, you can always expect some parasites do join the caravan… but that doesn’t mean the caravan itself is wrong or is heading in the wrong direction, it just means you ought to know where to be in that caravan and I believe there is room for different views in this particular caravan…

[quote name=“jti8899” post=“57630” timestamp=“1391721490”]

Calem,

pretty disappointed in your use of “staff position” on this one. I guess there is no point in sharing an opposing opinion to yours eh? So I will have to just agree! “If you don’t own your own rig, your not committed”

Not really encouraging to share thoughts and opinions freely here now. I can see your more committed then me so I will respectfully bow out of this conversation.

~//~
[/quote]

Look. I do apologise. I really do.

In regards to using my staff position, I may have spazzed out verbally, but I’m not silencing anyone here. I locked the thread and redirected everyone to a fresher thread. That’s it.

To be honest, it would be best if you stuck your guns though. Just because I don’t agree with you on one particular point, it doesn’t mean I’m not aware that differing opinions are actually a good thing. Not all the staff agree with each other on everything.

And let this be said.

My opinions, are my opinions only. I do not represent any form or sort of consensus amongst the staff or the community as a whole.

In regards to:
[quote author=jti8899 link=topic=7456.msg57630#msg57630 date=1391721490]
“If you don’t own your own rig, your not committed”
[/quote]

I never said that, nor did I imply the fact.

I was getting at, was the fact that from a miners point of view, there’s a lot less risk. This lessening of risk comes at at a premium. That’s where the cloud hashing business comes in. They can and will only operate to make a profit. Maybe they never convert the crypto’s back to fiat, this doesn’t matter.

The point I’m getting at, is that this does a couple of detrimental things.

1. It incentive’s and create’s centralisation. There by It discourages individual’s to help decentralise the network.
2. Creates a haven for scam artists and/or individuals who don’t seem to care about much more than just making a profit.

With that said. I do not think it is impossible, to have a network of excellent cloud hashing services tailored to many vary set’s of individual needs… In the future, it wouldn’t surprise me if it works out fine. Just, right now, while crypto’s are in their infancy, I just can’t see it been a good thing.

Once there is some sort of regulation, provided it is not corrupted, the crypto community would be less exposed to the effects of scammers, dishonest people and greedy corporations.

So @jti8899 please accept my apology, but…

Do. Not. Change your mind regarding cloud hashing, unless you truly believe so.

It is the differing of opinions that contributes to social progression…