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The cloud mining thread
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the_ox Offline
Robin
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Posts: 175
Joined: Sep 2013
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Post: #1
The cloud mining thread
A month ago I was thinking about writing a topic related to cloud mining and open for discussions, suggestions and to see if you are also mining somewhere over the internet.

What I want to show you is what is being my experience so far with two mining companies, how difficult are the transfers and if they are solid. I know some people which are interested to see how it works, if it is profitable and reliable because there are many cloud-mining platforms on the web, many are scams, ponzi schemes, sold out or are giving more losses than profits.

But first of all, what is cloud mining?
It is a mix of cloud computing and mining, which means you rent computer power that is focused only on crypto mining. The simplest, most common way is to buy time-specific contracts (1 year/2years or unlimited) which will guarantee you, with the current mining difficulty, that the contract will give you a daily/weekly/monthly X amount return of the selected coin.

For example, a provider “Roosh Mining” sells a 100USD mining contract can give you 0,000321 BTC per day.

It’s hard to define how much computer power is sold with a contract. It will really depend of the company and each company will have their own ‘meters’. For example, HashFlare sells you 10gh/s for 0,80USD. AWS Mining sells something call “CMP” - 0.1 CMP costs 40USD.

Here’s my current experience with the platforms:

AWS Mining: Created by a group of Brazilian investors, they have mining farms in China, Mongolia and recently in Paraguay. They got cheap electricity and tons of ASICs. There are ZCash/ETH/BCH/BTC contracts for one year or lifetime but most of them are sold out.
The ones I got are the one-year contracts. But keep in mind that the other condition is if you get 200% of your ROI, they will also expire. EG.: if you invest USD 80, once your contract make 160USD, it will expire. You can buy another contract if you want.
The payments are every day, minimum withdraw is 40USD, but when you withdraw, you receive the USD total amount in BTC and is sent to your wallet.
Website: https://awsmining.com/
ROI Calculator: https://awsmining.com/calculator
Reviews: https://netbusinessrating.com/en/review-...aws-mining
Sponsored Link: https://bit.ly/2y1IbLs (you cannot register without a sponsor)

Hashflare: Famous Cloud mining platform. They also mine other coins but most of then are out of stock. A maintenance cost per GH/s is charged daily as well, but you receive your amount in BTC every day.
Website: https://hashflare.io
ROI Calculator: http://profit.hashflare.eu/en/
Reviews: https://netbusinessrating.com/en/review-15339-hashflare

So far I’ve invested:

660USD with Hashflare
520USD with AWS Mining

The main difference between AWS and Hashflare is that AWS pays you in USD every day and Hashflare does in BTC.

On AWS Mining, this was what I go the 16th. By using two contracts, 1 CMP + 0,1 CMP = 440USD, the daily returns are about 2,35USD.

[Image: first.png]

On Hashflare, although it is paying in BTC every day, I bought 8.25TH/s, which is about USD 660.

[Image: second.png]

If you see, the gross amount of BTC mined is almost the double of what I’m get in AWS mining.

[Image: third.png]

However, Hashflare has a maintenance cost which is 0,0035 USD per 10gh/s, - about 65% of what you mined today, with the current BTC price:

[Image: fourth.png]

So the net amount of BTC is 0.00050157 - 0.00034332 = 0.00015825 BTC, which is $ 1,31.

Now, the trick here is:
- AWS mining pays to you daily with USD, but when you withdrawn, they will convert the amount to BTC and transfer to your wallet.
- Hashflare will always mine BTC but will charge you daily in USD.

So you can make a good strategy depending of the price of the BTC. When BTC price is low, AM will pay more, when high, HF will give you better returns.

Both companies give you a 1-year mining contract. However, in AM, the contract will be ceased if you make 200% of your initial investment. So, if you bought a $80 contract it will be ceased once it returned you $160.

Wrapping up:

AM:
- Pays in USD.
- Contracts are closed if 200% ROI (or the contract time is up)
- Doesn’t promise big returns, but they are good, constant and reliable.
- Minimum amount to withdraw is 30USD

HF
- Pays in BTC but charges a maintenance cost in USD
- No profit limit
- Good if you believe the price will skyrocket
- Minimum withdraw: 0.05001944 BTC (a lot!)

If you guys also use any other Cloud Mining platform, please share here your reviews, payouts etc.

Update:
- Yesterday I transferred 40USD from AWS to my wallet, it was quick and easy.
- AM has an interesting reference program with some cool bonuses.
- HF is tougher now to mine because the maintenance cost is about 80% the earnings you make.
06-08-2018 12:12 PM
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the_ox Offline
Robin
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Posts: 175
Joined: Sep 2013
Reputation: 13
Post: #2
RE: The cloud mining thread
Just an update:
Hashflare stopped paying, it's been almost a month. BTC needs to go up or the money invested will be lost in a year.
Aws mining still paying but it reduced like from 2,14 to 2,05 daily. Still good.
07-11-2018 01:20 PM
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sardines Offline
Pigeon

Posts: 28
Joined: Mar 2015
Reputation: 1
Post: #3
RE: The cloud mining thread
The review site foxyrating calls out both AWS and Hashflare as scams.
Is this review site even legit?
11-03-2019 12:06 AM
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