Archive for the ‘Cloud Mining’ Category

Checking Out Hashop, a New Bitcoin Cloud Mining Platform

5, May 2014

hashop-io-cloud-mining-service

Hashop.io is a relatively new service offering Bitcoin cloud mining services that we have decided to check out. The service itself was announced about two months ago, but we decided to give it some time in order to see if it will be here to stay or not. The good news is that the service is still here and has been adjusting their prices down with the increase of the network difficulty. With that said we do still want to warn you to be careful should you decide to try this service yourself. The company behind the service is apparently registered in the Seychelles and the website itself does not give you too much information on who is actually behind the website. The business model that this service follows is very similar to that of Cloudhashing – targeting people that are new to crypto currencies.

hashop-io-cloud-mining-plans

The Bitcoin cloud mining plans that Hashop.io currently offers are in the form of 2 year contracts and you have the following options: 20 GHS for $109 USD, 50 GHS for $249 USD, 100 GHS for $449 USD or 200 GHS for $799 USD. The supported payment methods are a Credit Card (Visa/MasterCard), Bitcoins or Wire Transfer. There is also an option for future cloud mining contracts that will start on 1st of June that come cheaper in terms of price, but the two more jumps expected by then in the Bitcoin difficulty will most likely make them not that more interesting anyway. With a price of about 0.013 BTC per GHS for the cheapest plan this certainly is not the best price you can currently get in the form of cloud mining hashrate an even at the most expensive plan the price per GHS is about 0.00945 BTC per GHS. But that is not the problem, the actual problem is that the Profit calculator offered by the service does produce some really nice numbers such as about $128 USD actual profit (after you return the $109 USD paid for the contract) after two years if you buy the 20 GHS plan. This may sound really nice, but running the numbers through an independent profit calculator produces significantly different numbers, ones that say you cannot even get half of the money you have invested back from the mined coins. That of course is with the current market conditions which are far from great, but when investing in cloud mining you should do the math for the best and for the worst case scenario before actually giving your money.

hashopio-account-balance-tab

When you register and get a contract pretty much all you get is a Balance tab with a brief information about your current hashrate and mined BTCs as well as an Account page where you can edit your details. There is no detailed statistics or option to change settings in the mining process or to use a pool of your choice. According to the information available you should be get an option to convert your purchased GHS to BTC (sell them back at lower price) in a week after you have purchased a cloud mining contract. This is a good option should you decide you no longer want to continue using the service and recover some of the money you have invested as most other long-term cloud mining services do not offer such an option (unless they have a exchange). Also do note that the service has a maintenance fee of $0.00045 USD per hour per GHS, this fee is subtracted from your mined coins depending on the amount of GHS you have and you may miss reading about this fee.

Our conclusion in short – be careful with that cloud mining service, even though it has been available for a while and seems to be here to stay. Their prices, while lower than some other alternatives, are still pretty high and it is doubtful if you will manage to break even let alone make some profit with the current market situation. There are better priced alternatives available, ones that have been available for longer time and have earned the trusts of many users that you should stick with if you are interested in Bitcoin cloud mining.

– For more information about the Hashop.io Bitcoin cloud mining service…

Cloudhasing with New Website, Cloud Mining Plans and Prices

20, Apr 2014

cloudhashing-new-cloud-mining-plans-prices

The Bitcoin Cloud Mining service Cloud Hashing has a new website design and new cloud mining plans and prices. The new prices however are just slightly more attractive than the old ones and that with the fact that the Bitcoin network difficulty continues to increase in big steps does not make the service that much more attractive and profitable as it was before the latest update. The cloud mining contracts being sold by the service are for 1 year term, and you can get 30 GHS for $299 USD, 110 GHS for $999 USD or 375 GHS for $2999 USD. If you put these values in a profit calculator with the current market situation there is absolutely no chance to even get a return of your investment in a year, let alone to have made some profit. And that makes it really hard to eve consider investing in the service, though if conditions improve for the better there is some chance to actually get some profit, but the risk is quite high to hope for such. So we do recommend to look for other better priced alternatives if you are interested in cloud mining services.

– For more information about the Bitcoin Cloud mining service CloudHashing…

The Bit-Mining Cloud Mining Service Experiencing Problems Again

19, Apr 2014

bit-mining-cloud-mining-service

We’ve been testing the Bit-Mining cloud mining service for a while already and our experience with it was actually Ok while the service was working properly. The problem is however that the service was not functioning properly pretty much most of the time since we started testing it and yet again it seems to be experiencing some serious issues. The last time that the service was apparently “hacked” it took more than just a few days to restore the normal operation, then there were some issues with the SSL certificate of the service and now again they have been having some issues for more than a few days already. What we do not like is that the people behind the service are not very active in communicating about the problems when they have some, so the users can be rest assured that they are going to be fixed. And since they do have problems so often what is happening is that their users are going away and so are we. We decided to give a second chance after their last problem was fixed, but now we can already draw our conclusion – stay away for the service. They do have too much problem, take a lot of time to fix them and you as the user only get some headaches from all of the trouble associated with it to be worth it.

Currently users are unable to login, resetting the password could work for some, but after loging in successfully the service is still not properly functioning. The last official news from the service was a short post on April 15th at the Bitcoitalk forum quoted below:

Hello Bit-Miners,

We apologize for the lack of communication during these last few days. As you all have noticed, there have been many issues and down times as of late with the website. We have received many hack attempts in the last few days at Bit-Mining.Co, which has caused us many issues. All our staff members are working together to fix all the issues and bring the website back to normal activity as soon as possible.
All open tickets should be resolved and withdrawals processed in the next 48 hours.
If you don’t see your issue resolved in the next 48 Hours, please email us
at: Support@Bit-Mining.Co . Again, we apologize for the lack of communication.
From now on, we will keep you updated more frequently by using social media pages.
Please follow us on Facebook: https://www.facebook.com/bitmining
and Twitter: https://twitter.com/Bit_Mining

Bit-Mining.Co

The problem is that since then nothing new has been available as information, no communication through the Facebook or Twitter pages that are supposed to be used for things like that. And the service is still not properly functioning after a few days have passed already. Again, we’ve had enough of issues and recommend to stay away from that service and if you are using it and still haven’t withdrawn your coins you should consider doing so after they finally fix this problem as well.

– For more information about the Bit Mining BTC/LTC cloud mining service…


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