Posts Tagged ‘cloud mining

markets-cx-litecoin-cloud-mining-service

If you were looking for the Litecoin alternative of the CEX.io Bitcoin cloud mining and trading service then you may not have to wait much more. We have just found out about a new service that looks and functions very much like CEX, however it is designed only for LTC cloud mining. This new service that has launched just a few days ago is called Markets CX and has started just about a week ago with a month before that for closed beta testing according to the available information. It seems that the service is based somewhere in Asia and to be more precise in mainland China according to the not so man details published about the operation. Furthermore the cloud mining hashrate being offered is apparently provided by 5-chip Gridseed ASIC devices and there is even an option to redeem your cloud mining hashrate for actual hardware (300 KHS per device).

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Of course we have decided to give the service a try as something new and interesting in our search for a good Litecoin cloud mining service. It seems like the most promising and well made from what we have tried for mining Litecoin, so we have decided to start by depositing 5 LTCs and purchasing Scrypt mining hashrate with them. We started with 1 LTC initially just to test and soon after that moved another ~4 Litecoins and the total hashrate we have purchased with them was about 120 KHS. We liked that the deposit confirmations require only 3 confirmations on the network, so you can quickly have the LTCs available on the exchange to buy hashrate with. The current price per 1 KHS is 0.0410 LTC with already over 40000 KHS (40 MHS) available on the exchange, so there is plenty of hashrate available for sale at the moment. We however do recommend to start small as we did and we usually do with new services that we are trying out and if everything works well out for you you can later on buy more hashrate. The good news is that we already got a few hourly earnings credited to our account and we can withdraw them, though we’ll probably reinvest them for more hashrate. We expect that soon the exchange rate will start to get higher as currently the available on the market KHS are probably offered by the service provider at a lower rate and with more demand the price will start to get high. This will allow you to buy now cheaper and sell more expensive later on to get some extra profit if you do not want to invest on the long run.

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And while this new service for LTC cloud mining does seem to look very similar to CEX.io the two are not run by the same people. This new Litecoin cloud mining platform does not yet have a public mining pool where you can mine with your own hardware, or even some real time information about what and how your purchased cloud mining hashrate is performing. For the moment you can only see every hour what your earnings are on the account Balance page, so there is more to be desired here, especially considering that this piece of information is not well described and you need to figure it out by yourself.

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Markets CX does offer a Mining Profit calculator that can give you an idea about when you can expect to break even in. The average return of investment according to the profit calculator is 6-7 months and that does sound pretty good, but the time required to get your invested LTC back can vary. The maintenance fee for the cloud mining hashrate you purchase is currently 7.5% and you can see how much from your earnings are deducted each hour when you get your mining profit credited to your account. So far we are excited by the potential we see in this Litecoin cloud mining service, so we do recommend to take a look at it if you are interested in LTC cloud mining. You can try it out with just a few KHS like we did and we’ll keep you updated on our experience and results from using this new Litecoin cloud mining and trading service. Note that we do recommend to proceed with caution though and not invest a lot of coins initially and give the service some time to prove itself first!

For more information about the Markets CX Litecoin cloud mining service and to try it out…

pbmining-5-year-btc-mining-contracts

We’ve been using the PB Mining Bitcoin cloud mining service for almost a week already and since the BTC network difficulty just increased by about 21% we have decided to report on our current earnings with the previous difficulty. We have started testing the BTC cloud mining service by purchasing 1 GHS with a price of 0.0107 BTC per GHS for the purposes of our tests. Now, after the difficulty has been just increased the there is a new price of just 0.0089 BTC per GHS. This means that at the moment you can purchase 500 GHS for about 4.45 BTC as opposed to 5.35 BTC for the same hashrate last week. This price reduction with the increase in Bitcoin network difficulty is a good thing and makes the service even more attractive, so we are already considering of purchasing some more GHS.

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Let us see how things are going in terms of earnings, since our testing has started we got a small payment (they are sent every Sunday before Midnight) and currently our earnings from the 1 GHS purchased equal 0.00075838 BTC (not including the payment that was already sent). These earnings are for mining in the last 4 and a half days after we got a payment on Sunday. With the previous difficulty the estimate was 0.0001607 BTC per day earnings with 1 GHS hashrate so for 4.5 days this equals to 0.00072315 BTC and for 5 days 0.00080350 BTC. With our current earnings in between these two numbers we can say that we are very happy with the results we are getting so far. And with the update of the price for 5 years mining contract the PB Mining Bitcoin cloud mining service is getting more and more attractive option. Sure there are other alternatives available, but they try to not only sell you higher priced GHS, but also make you trade them while they mine for you in order to get higher profit (or loose more trying to do that). This service on the other hand is a long term contract where you cannot sell your purchase GHS, however they will continue to mine for you for 5 years with expected return of investment in roughly 6-8 months currently estimated.

For more information and to try out the PB Mining Bitcoin cloud mining service…

pbmining-5-year-btc-mining-contracts

It seems that cloud mining crypto currencies is booming lately and more and more new and interesting services giving you the opportunity to purchase Bitcoin mining hashrate in the cloud are appearing. We are going to be looking at one new such service that we just started testing a day ago – PB Mining, so we are going to be sharing our first impressions from the service and in the following days we’ll keep you updated with more details and interesting findings as we continue to use it. You should know that there are different types of services that offer you cloud mining hashrate, and you should approach them differently based on what exactly they are offering you. For example one of the most popular such service called CEX.IO has an exchange where users trade hashrate and the current market price is based on the users trading. The advantage of that method is that you can both mine and trade at the same time and maybe get some extra profit, the disadvantage is that the price per GHS is higher and the risk of price fluctuations is higher, making it not so attractive for long term investment. On the other hand, the new service offers a different approach – they are selling you long term contracts for 5 years of mining. So essentially you are going to be renting a BTC mining equipment for 5 years and all of the mined coins will be sent to your Bitcoin wallet every week for the duration of the mining contract. This is essentially a long term investment in Bitcoin cloud mining service and the good thing here is that the price per GHS is more than two times lower (0.0107 BTC per GHS) compared to what CEX is selling at the moment on their exchange (~0.0240 BTC per GHS).

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You can quickly and easily register at PB Mining and purchasing some hashrate and starting to mine with it can take just few hours. For the moment this service is not that automated and feature rich as you might want it to be, but on the other hand it is very easy and simple to start using it. When you are registering you need to provide your Bitcoin wallet address that will be used to send your weekly earnings, make sure you type it right as you will not be able to change it afterwards (probably edit functionality will be added soon) along with other profile details in your account. As soon as you register you will need to deposit some Bitcoins that you will use to purchase cloud mining hashrate with, the price is 0.0107 BTC per GHS and you can purchase from 1 GHS up to 500 GHS at a time (0.0107 BTC – 5.35 BTC) at a single order, though you can make more orders after your first one. We started our testing with the purchase of 1 GHS hashrate and after we have sent the Bitcoin transfer to the provided address it took about 3 hours for our purchased Bitcoin mining hashrate to appear in our account, but it could take up to 12 hours according to the service provider.

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After our hashrate has become active and our 1 GHS started mining BTC we have waited for 24 hours to see how much Bitcoins we are going to have mined for 1 day. Since our first 24 hours ended a bit after midnight this Sunday you can see that we even have our first weekly payment sent and received in our BTC wallet, so we can confirm that the service is really paying every week as well. The image above can give you an idea about how your profile details look, simple and easy, though a bit more functionality like editing the details you have entered upon registration would be nice. For example after some time you may need to change your wallet address, after all here you are paying for a 5 years contract. But since the service is still quite new, we expect to see some improvements happening soon, the important thing for now is that it seems to be running very well and problem free and we like that. We suppose that there are already about 1500 people that have registered for it and the currently available hashrate reported by the service statistics shows that there are currently about 24.314 THS available out of which there are 14.4 THS still available for sale.

We are sure that you are already asking is it worth to go for long term Bitcoin cloud mining investment and the answer is yes. And to the question if it is better to go for dedicated ASIC mining hardware for BTC or to purchase cloud hashrate the answer is a bit more tricky. If you are able to buy a Terahash size ASIC miner at the moment and get it immediately, then you should do so as it will be cheaper than renting for 5 years cloud mining hashrate. However if you are not able to pay and get the hardware immediately as is most likely the case with almost all people, then investing in cloud mining is a good alternative. With cloud mining services such as PB Mining you can purchase a lot of GHS and they will immediately start mining for you, even if you may have to pay something like 50% more than for a dedicated Bitcoin ASIC that you will however pre-order now and will have to wait for some time to get it.

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Now we are going to do some calculations to see what you can expect to get in terms of mined BTC from the Bitcoin cloud mining hashrate that you can purchase at PB Mining. On the image above you can see an estimation of what earnings are expected for a day with the current BTC difficulty with 1 GHS mining hashrate – 0.0001607 BTC for 24 hours in ideal conditions. Our 1 GHS cloud mining hashrate has so far generated for us a total of 0.0001624 BTC, so we probably had a bit of more luck in finding blocks at the pool. And if we do a long term calculation for the possible break even in time for the purchased hasrate and we set a 20% increase of BTC difficulty on each retarget (a moderate value closer to the latest few diff increases) we have ended up with about 180 days or half an year. This means that the rest of our 4.5 years of the mining contract duration we are going to be earning Bitcoins after completely getting back in just 6 months what we have invested at the beginning. This does not sound bad at all, though the return of investment time could be a bit higher with higher difficulty increases every 12 or so days. This is pretty much the average ROI time that most of the good cloud mining services should be able to offer, making this an interesting service to try out and invest into some GHS that will be mining for you on the long run. So far we are pretty happy with the service and what we are seeing and already getting back in return, and we’ll keep you updated on how things progress as we continue using it.

For more information and to try out the PB Mining Bitcoin cloud mining service…


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