Posts Tagged ‘pbmining’

Our New Cloud Mining Service Testing Progress Report

13, May 2014

cloud-mining-services

We haven’t updated our cloud mining progress report for a while now, so we have decided to write down our latest impressions form the services we are currently testing or have tested already. And with services such as MarketsCX and Bit-Mining disappearing, creating a lot of trust issues with other and especially with newer cloud mining services it is good to give an overview based on our own experience. The biggest concern with most cloud mining services is if they are here to stay and will not take away your coins or money and run away with them. Especially true with new services that have just launched and the way they run and the information they provide raises some concerns. That is why we do recommend to always do some research and start small should you decide to test a new cloud mining service and be very careful, unless you are sure to be investing in an already proven and established service.

CexIO is probably the oldest and biggest Bitcoin cloud mining service, no concerns there, though our experience has shown that it is good mostly for trading GHS/BTC and long term investment in Bitcoin cloud mining hashrate does not work that well. The service does plan to launch Litecoin cloud mining as well, but it is still not available, though they have been expanding the list of services they have such as adding Scrypt mining pools as well as introducing a trading fee on their exchange and adding future cloud mining contracts for trading. Currently the price of 1 GHS worth of Bitcoin cloud mining hashrate is around 0.0069 BTC and near the end of this month it should most likely go below 0.006 BTC judging from the current FHM trading price.

PBMining is a Bitcoin cloud mining service intended for long term investment as there is no exchange where you can buy/sell the purchased hashrate at any time and you buy a 5 years long mining contract. The service has probably the best prices per GHS for BTC cloud mining hashrate and this along with the 5 year contract makes a lot of people concerned and we were a bit concerned as well initially. However the fact that we’ve been using PiggyBack Mining for almost 3 months already and we didn’t have any problem and were always getting our weekly payouts on time we are not that concerned about them anymore… especially comparing to the bad experience we’ve had with other services that are no longer available. Currently the price per 1 GHS is 0.005 BTC per GHS and the price gets down usually every difficult increase of the Bitcoin network.

Cloud Hashing is a Bitcoin cloud mining service that has been available for some time and seems to be a very serious one according to what they claim (3.79 PHS total hasrate). The service has own dedicated pool and you get control over the workers you have via a web-based dashboard depending on the mining contracts you have purchased. The only drawback of this service is the not so attractive price they have for the hashrate that you can purchase in the form of a 1 year contract. You are not able to purchase minimum of 30 GHS and they are a bit expensive at $299 or 0.69 BTC (0.023 BTC per GHS), so not easy to test the service with a very low investment before deciding if it is worth to invest more. After all everything that a miner wants to get is profit when investing in either Bitcoin mining hardware or in cloud mining services and the numbers here don’t look so good. The fact that the price for the cloud mining packages offered does not adjust with the change in difficulty does not help either.

ScryptCC is the first Litecoin cloud mining service that we’ve tried a while ago and we were very excited about it at first, but were not very satisfied by the level of support we were getting – very slow response to issues. Though things seem to have been improving the fact is that this is the only more serious Scrypt cloud mining service that remains after others such as MarketsCX and Bit-Mining have disappeared. The service is apparently using GPUs making it harder to add additional hashrate and thus the prices are mostly depending on the trading going on between users. Currently the lowest price of 1 KHS worth of Litecoin cloud mining hashrate is available for 0.000719 LTC and when we started testing it about three months ago it was pretty much double that price.

We’ve seen quite a few other new cloud mining services popping up, but no other serious enough made in terms of user functionality that is currently available. Other similar services rise some concerns, don’t have detailed mining reporting and/or trading functionality etc. Again we do recommend to always do some research and start small should you decide to test a new cloud mining service and be very careful, so that even if it disappears quickly you will not loose much!

PB Mining With an Improved Website Interface and Functionality

25, Mar 2014

pb-mining-new-website

Today the Bitcoin cloud mining service PB Mining has updated their website, something that they have previously announced. Earlier today there was a message about the update pointing to the new IP address of the website, though some of you might still see that message until the DNS cache is refreshed. The new website is not a complete makeover, but more like adding new features and improvements to the interface of the service. We are happy to see that some of the things that we did not like about it initially are now fixed, such as the ability to update your Bitcoin payment wallet address. There is now more clearly structured and detailed information about your cloud hashrate and when your cloud mining contract expires and so on. There could be a few more issues n the next days that need to be worked on, but hopefully things will be back to normal and the support of the service is working to bring everything back to normal after the update.

We’ve been testing the service for a month already and though we had some concerns when we first started, now we can say that most of them are gone. The service has been running stable and problem free and we were getting our mined coins each week on time. We are still not ready to invest a lot of coins in the service as we are still testing it, but we are gradually adding more hashrate pretty much each week or when the difficulty has increased. The reason or that is the decrease in price per GHS that the service has with each difficulty adjustment to the already most attractive price they have for cloud mining.

At the moment they have 78 THS worth of hashrate and the option to buy a contract at 0.0075 BTC per GHS currently says that it has all been sold out. This however can be a result of temporary disabling the option to purchase new hashrate until everything is operating normally after the move, the same can also be true about new registrations. If you are already using the service and are having some issues try contacting the support or post in the dedicated thread about the service on Bitcointalk linked below.

– To the PB Mining cloud mining service dedicated topic at the Bitcointalk forum…

Weekly Report on Our PB Mining Cloud Mining Service Testing

17, Mar 2014

pbmining-current-hashrate-and-price

One more week has passed from our ongoing PB Mining Bitcoin cloud mining service tests and yesterday we have received our payout. As we’ve already discussed the service is sending the payouts from the cloud mining hashrate that you have purchased every Sunday before Midnight. From what we are seeing so far the payout seems to be fixed based on the current difficulty and the hashrate you have purchased. So far we haven’t had any issues with the service, unlike many other similar services that do have problems lately, but we are still a bit wary and are not investing too much coins in hashrate.

pbmining-new-weekly-payout-report

We already have 20 GHS purchased worth of hashrate and we are probably going to be upping that hashrate some more after the next Bitcoin difficulty adjustment in about 8 days, because PB Mining is decreasing their price per GHS with every difficulty increase. And for the moment they are still offering the best price per GHS for cloud mining hashrate that starts mining for you right away. The total hashrate of the service that is being officially reported is now 64 THS. There seem to be already about 4000 people that have registered and are using the service for cloud mining and while there are still some concerns about it, things seem to be running smoothly so far. And even though we have been testing the service for more than 3 weeks already and are so far happy with the results, we do still recommend some caution and to start small and not rush in with a lot of BTC to invest in cloud mining hashrate if you do wan to test it yourself.

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


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