WHAT IS CLOUD MINING?

Cloud (or remote) mining – is the process of using hardware power to mine cryptocurrencies (such as Bitcoin or Litecoin) remotely.
This mining model came into existence due to the fact that the increasing difficulty of mining has made it unprofitable for mining enthusiasts to mine Bitcoins at home.

Cloud mining gives people a unique opportunity to begin mining cryptocurrencies without the need for a large initial investment in hardware or technical knowledge.
Despite the simplicity of the cloud mining model, it is worth elaborating on a few details, specifically it’s important to highlight that remote mining comes in two forms:
hosted or cloud based mining.

REMOTE HOSTED MINING

The first form of remote mining is remote hosting. This model suits users with a high level mining experience and know-how and who require a high degree of control
over their mining hardware. Under this model, the mining hardware is hosted in a remote datacentre and the user assumes full control over the setup and configuration.
Under this model, the miner pays a fee to the hosting company that would cover maintenance and electricity costs.
This helps the miner handle the risks associated with maintenance of the kit as well as any risks with the shipment of the hardware.
On the other hand, it presents the miner with risk on the initial hardware investment and requires much more time and technical knowledge to implement successfully.

It can therefore be summarized that the benefits of remote hosted mining are tight control over the mining process, maintenance support and subsequent ownership of the hardware.
The big drawbacks are risks associated with the procurement of expensive hardware and the very high cost of entry, both in terms of investment and technical expertise.

CLOUD MINING

The second, and more accessible model of remote mining is Cloud Mining, whereby a miner purchases a part of the mining power of hardware hosted and owned by a
Cloud Mining services provider.
The service provider takes on configuring the hardware, maintaining uptime and selecting the most efficient and reliable pools.

This option provides a range of benefits: instant connection (meaning no hardware shipment wait times and delivery risks), fixed maintenance and electricity fees and
no nuisances associated with mining at home such as noise, heat or space.
Another key point is that this model of cloud mining requires no technical experience. Obviously, it’s very important that miners understand the mining process.
However, this model doesn’t require hardware expertise or significant configuration / implementation cost.
Since customers can purchase any amount of mining power (hashrate) they wish, this means that the level of investment will depend only on the miners’ ambition.
This means that the cost of entry and subsequent risk is far lower than in comparison with the remotely hosted model.

Cloud mining is greatly suited for novice miners who would like to try out mining and earning cryptocurrencies as well as seasoned miners who don’t want the hassle or risks
of hosted or home-based mining.

WHAT ARE THE ADVANTAGES OF CLOUD MINING?

1. Mining commences immediately after purchasing a mining contract with the cloud mining service provider.

2. 24/7 round-the-clock mining operation. You don't miss out even one second of mining.

3. Daily payouts of cryptocurrencies.

4. Ability to re-invest accumulated payouts to purchase more mining power (hashrate).

5. A user account with 2FA authentication is provided to graphically monitor your daily payouts.

6. The mining dashboard can be used to change your wallet address, make withdrawals, make re-investments, change the allocated mining pools.

7. Can purchase new contracts anytime to supplement existing ones according to your affordability.

WHO ARE THE TOP-RANKED, REPUTABLE CLOUD MINING SERVICE PROVIDERS THAT WE CAN TRUST WITH OUR MONEY?

1. HashNest ----------- https://www.hashnest.com

2. Genesis Mining ----- https://www.genesis-mining.com

3. Bitcoin.com Pool --- https://pool.bitcoin.com

4. Hashing24 --------- https://hashing24.com


Obviously there are many more, but these are the top two I did my research on, and are highly recommended.

Here is my mining dashboard with HashNest




Here is a brief write-up on cloud mining from the famous cryptocurrency website CrytoCompare.






WARNING!!!

Like any other lucrative business venture, cloud mining can be very profitable, or it may not be,
depending on your mining contract terms, the coins you are mining, and the size and duration of the contract.,

Always invest with money you can afford to lose.

You do not have to monitor the mining output everyday. You should sit back and relax.

Your return on investment (ROI) can be longer than expected, or as fast as a few months to breakeven, if conditions are right.

Do not expect a STEADY income stream from your mining contracts. It is very irregular, with ups and downs on a daily basis.

You should be OK if your expectations are realistic.

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PLEASE DO NOT POST REFERRAL AND DISCOUNT CODES OR EMBED REFERRAL LINKS.

IT IS AGAINST FORUM RULES AND REGULATIONS.

VIOLATION OF THESE RULES WILL RESULT IN THE SUSPENSION OF THE INDIVIDUAL.

THANK YOU.
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WARNING --- HASHFLARE

Please avoid buying cloud mining contracts from Hashflare.

They have unscrupulously changed their existing Lifetime SHA-256 and Scrypt contracts to a limited 1-year.

All existing Lifetime contracts now expire on 31st August 2018!

This is a SCAM!

Go for Genesis Mining, HashNest, Bitcoin.com Pool, or even Hashing24.






CLOUD MINING INVESTORS

1. raynman --- Genesis, Hashflare, HashNest, GigaWatt, Bitcoin.com Pool
2. jack2 --- Genesis, GigaWatt, HashNest
3. denimblue --- Genesis, Hashflare, HashNest, Bitcoin.com Pool
4. alchmiya --- Genesis
5. strife_leo --- Genesis
6. HHCC --- Genesis, Hashflare, HashNest
7. overeact --- Genesis
8. cofin --- Genesis
9. blueblueoutofblue --- Genesis
10. mostwanted82 --- Genesis
11. gigroup --- Hashflare
12. firecrac --- Hashflare
13. Chelsea-Fan --- Genesis, GigaWatt
14. natamhanjing --- Genesis
15. mosfet83 --- Hashflare
16. kievlueen --- Genesis
17. DEz012 --- Genesis
18. tcw90 --- Genesis
19. Nidz --- Genesis
20. tyssxp --- Genesis, Hashflare
21. dragon528 --- Hashflare
22. tskhor --- Genesis
23. blue16 --- Hashflare
24. Ch3n_low --- HashNest
25. yupio --- Genesis, Hashflare, HashNest
26. Ruzumaki --- HashNest
27. Flame Haze --- HashNest
28. V-Zero --- Genesis, Hashflare, HashNest
29. dwRK --- HashNest
30. lastring --- Genesis, Hashflare, HashNest
31. Dividend Magic --- Genesis
32. kwong02 --- Genesia, HashNest
33. swift2 --- Genesis
34. johnnyzai89 --- Genesis, Hashflare, Bitcoin.com Pool
35. Wysiwygman --- Hashflare
36. KK7916 --- Hashflare
37. CoffeeDude --- HashNest
38. Someonesim --- Hashflare, HashNest
39. Blank86 --- Genesis, Hashflare
40. jep --- Hashflare
41. wildan03 --- Hashflare
42. Spectreoutreach --- Genesis, Hashflare, HashNest
43. ru5hd4n --- Hashflare
44. vampirex --- Hashflare
45. edthrax --- Hashflare
46. YO_OY --- Hashflare
47. melz84 --- Hashflare
48. Sigmax --- Genesis
49. alpha33 --- Genesis




GIGAWATT --- Remote Hosting of Mining Equipment

1. raynman --- 3 x Antminer L3+ 2,640 WTT tokens and 1 x Antminer D3 1,320 WTT tokens
2. dc_talkz --- 2 x Antminer L3+ 1,760 WTT tokens
3. jack2 --- 1 x Antminer L3+ 880 WTT tokens
4. Chelsea-Fan --- 3 x Antminer L3+ 2,640 WTT tokens
5. Ruzumaki --- 2 x Antminer L3+ 1,766 WTT tokens
6. jjsia --- 1 x Antminer L3+ 882 WTT tokens









Happy cloud mining, folks!

This post has been edited by raynman: Sep 7 2017, 01:56 PM

Why the old one being deleted ?

This one i see not bad also https://micro-btc.com

after 6 months you can sell back what you buy

There is also another one.

Not so profitable, but legitimate.

It is one of China's biggest mining pool.

https://www.viabtc.com/

I heard that we have someway to check the source of cloud mining earning is from real mining or not through the coins pool website.

Is it true we can check?

i trace back my eth paid by genesis ....they mine it from nanopool

I have no idea how to check.

If someone has found a way, please share it here.

How do you check it?

Please share.

just click on the paid by in your wallet then until the root would be the pool and block

i guess so ...because until the root is nanopool then click 1 more time is the block already

There is one more legitimate cloud mining site.

It is Hashnest, which is operated by Bitmain. The largest ASIC miner manufacturer in the world.

On Hashnest, you can buy and sell mining contracts to increase your hashrate.

https://www.hashnest.com/

Sounds interesting.

I trust Bitmain.

I will check it out later.

Thanks.

Genesis Mining has re-introduced DASH (X11) 2-year mining contracts after running out of stock for about 3 months.

I just bought the 500 MH/s plan.

hi all, i also purchased genesis cloud mining few days ago, so happy to see this thread up again.

Welcome to the Cloud Mining Club.

May I know which plan did you buy?

I will add you as a member in the first post.

Please share your experience as we go along.

Can't compare with u all, i just small investor i bought ETH mining 5Mh/s 2 years contract.

That is a great start!
Sikit sikit lama lama jadi bukit.
I also started small like you more than a year ago.

How much is the ROI per day? Can beat ETH or Hashflare?


Found this

https://www.cryptocompare.com/mining/genesi...n-2-year-large/

It seems ETH one is more worth.

This post has been edited by jack2: Jul 1 2017, 07:51 PM

Not bad. Almost comparable to ETH returns at a much cheaper price.

I intend to hodl DASH for future appreciation.

Ya, because no confidence invest high value in the cloud mining, i will wait for few months see how is the return first then may invest more.
I also planning to buy new GPU to do mining.

But mining GPUs everywhere is out of stock.