Posts Tagged ‘cloud mining

cloud-mining-services

Over the past year and so we have seen many cloud mining services come with big promises and then go either turning out to be scams or failing due to some bad business planning etc. We’ve tested quite a few of these and lost some money on some, on some we’ve won even though they are no longer available, but there are still a few services that are still here, work fine and pay regularly to their users though we actually had some doubts about some of these.

One of the earliest large scale cloud mining operations, namely Cex has transitioned to an crypto currency exchange only and while it was operating as a cloud mining service the chance to actually perform well was to not only cloud mine, but trade your hashrate all of the time. This was true for many cloud mining operations that came with a built in market where users can sell hashrate, though this allows you to exit at any time by selling your hashrate. We did not like this concept that much as it takes a lot of your time to actually make profit and one of the goals of going the cloud mining way is exactly to save you the trouble of needing to spend a lot of time on the mining-related things.

Some Chinese ASIC manufacturers started promising cloud mining operations, but failed miserably or are going that road pretty fast. A recent example is the AMHash operation that had various issues pretty much from the start and is pretty much dead now. ZeusHash was another promising start with Litecoin cloud mining from a Scrypt ASIC manufacturer that has transitioned to a Bitcoin only and not very profitable at that cloud mining operation. Then there is Hashnest operated by BitMain that also had a fair share of issues and has been constantly changing what they are offering, making it harder for users.

We are not going to even mention various services that looked promising or not, but ended up being scams or services that were betting on the price of Bitcoin only going up or down for that matter and ended up disappearing because of that. So where are we currently cloud mining at and what is left as services that have been here long enough to be considered safer?

Genesis Mining is one of the most serious entrants into the cloud mining world that we’ve been using for about 10 months already. The company is trying to be very open and transparent regarding its mining operations including hardware manufacturers partnerships to counter the mistrust caused by a lot of anonymous scams. Daily payouts, transparency, multiple ways to purchasing cloud mining hashrate.

Bitcoin Cloud Services is a more anonymous cloud mining operation that we started using about the same time as Genesis Mining, though it is apparently a year old now and currently running an extended price promotion to celebrate their birthday. Have changed their initial offer, but are still here and pay out mined earnings on a daily basis, offer attractive pricing and anonymity is a plus for some people.

ScryptCC left us with mixed feelings once we started using it back in February last year, looked promising and worked fine unless you had an issue and needed to deal with support. Well, they are still here and we are still mining with not that much hashrate, but the service is still paying out. There are some people complaining from issues with it apparently, so support could still be an issue, but unless you have to deal with it seems to be Ok. Still we would not advice to go with larger investment there.

bitcoin-cloud-services

In the last year or so many companies appeared and disappeared in the world of cloud mining and very few have managed to survive or turn out to be more than some quick scheme to trick the miners. One of the few cloud mining companies that remain and continue to operate is Bitcoin Cloud Services that is turning 1 year old on March 12th, though we started using it and did our first review of the service just about 8 months ago back in June last year. To celebrate their 1st year anniversary there is a currently ongoing price promotion for Bitcoin cloud hashrate being sold this hole week with discounts based on the amount of hashrate you purchase. The discounts listed below are applied automatically depending on the amount of GHS you buy, they are counted towards the standard price of 0.0017 BTC per GHS that the service has.

Promotional volume discounts for hashrate:
0.0016 BTC per GH/s in orders over 50 GH/s (5.88% Discount)
0.0015 BTC per GH/s in orders over 1000 GH/s (11.76% Discount)
0.0014 BTC per GH/s in orders over 10000 GH/s (17.64% discount)

The mining contracts are for 1 year with no additional fees, everything is included in the price of the hashrate you purchase, payouts are being sent on a daily basis. The service is keeping mostly anonymous profile does not reveal much about their actual mining operations, but the payout address is publicly available and you can check the payment transactions that go out.

For more information about the cloud mining currently offered by Bitcoin Cloud Services…

bitcoin-cloud-mining

Due to the low Bitcoin price a lot of players have been left out and the Bitcoin cloud mining industry has been reorganized. Bitcoin is here to stay and Bitcoin Cloud Services mining operations will continue as the company has reassured us that they have secured hardware and energy agreements that will give a competitive advantage when the price of Bitcoin recovers. The last difficulty adjustment for Bitcoin brought a negative difficulty of -6.14% and this means more Bitcoin for the same hashing power and ROI in less time. However do not forget that investing in Bitcoin mining is something that is expected to give long term profitability. Over the course of the weekend Bitcoin Cloud Services is running a promotion with a 10% discount of the regular price of 0.0018 BTC per GHS for hashrate. All you need to do is to apply promo code BTC10OFF2015 during checkout to receive the 10% weekend promotion. Do note that this discount will be active only during the last weekend of the month, so make sure you don’t miss your chance to use it if you are buying Bitcoin cloud mining hashrate.

For more information about the cloud mining offered by Bitcoin Cloud Services…


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