Clound mining worth to invest?
I would like to share my experience in cloud mining and my personal aspect to someone that interest in this kind of investment.
What is cloud mining?
Cloud mining service, basically is the offer for a mining contract that provided crypto currency mining sevice by someone who will take care of installing the hardware, monitor ,maintenance work. All you do just buy the contract and wait for the profit payment after deduct maintenance and electricity cost.
Sound easy,dream of sweet passive income? let's see what happen recently.
On 26 June the biggest scam event in history of cloud mining happen again, yes again!!
The "Hashocean" well, use to be the most popular cloud mining site with over 700,000 investors now gone forever. This is not the first time, if we turn back the time to mid of last year the rising of Bitcoin price cause cloud mining site popping up several months ago and nowadays most of them are closed or not paying (according to cloud mining list on http://www.cmmonitor.com).
Do any real cloud mining exist, and how to identify which site is scam?
Yes of course, so far as I know there are some long run and proof of real mining operation such as
-Genesis mining
-Gigahash
-Hashnest
and "Nicehash" which is not a cloud mining actually, this site you can sell or buy hash power to or from other miners.
Before going future in identifying scam site, let me tell you the story of my investment in cloud mining site. I invested in three mining site
1.) Hashocean
2.) Hashflare
3.) Genesis mining.
Most of my investment are in Hasocean, fortunately enough a month before they gone I decided to stop reinvest and get almost of my investment back.
Hashflare , honestly I think this is also scam site because they never show proof of their mining operation (all scam site always say that this for the security issue bla bla bla). But Hashflare may able to prolong their site running that because the fact that revenue from cloud mining can not guarantee! Most of scam site like Hashocean come up with fix and high return rate which in the real world that cannot achieved due to the uncontrolled factors in mining operation such as mining amount, exchange rate, etc. After the "Bitcoin block Halving" the revenue from cloud mining should be reduce significantly and Hashflare do reduce the payout, also with Genesis mining.
Genesis mining should be the real cloud mining site but also the most expensive contract price.
As describe above, my opinion "All cloud mining site which cannot proof that they own their mining farm are scam!!"
Do information on the cloud mining monitor sites give some help?
The cloud mining site list on http://www.cmmonitor.com or others monitor site that still paying, doesn't means that they are not scam, !!remember this!! Why? The information of how long that cloud mining site operate dose not guarantee that they won't close their website and lay on the beach by your money. The only factor is the amount of money they needed (like Hashocean that has been monitored for 400+ days). Only useful information is the ROI.
Shall I invest?
After recent "Bitcoin block Halving" there is no point of interest. Why? Simply enough, the ROI is too low now and don't be lured by the "Life time contract" cause that is not. Now ROI on Hashflare and Genesis mining is much lower after block Halving as of my calculation base on current bitcoin and mining contract price, it will take almost four years to get payback. And there will be another block Halving in next approximate four years which will cause all of my current contracts payout are zero due to maintenance and electricity cost.
Anyway if you really are risk seeker and have some money ready to throw away, go for those cloud mining site with high ROI. manage your port folio don't gamble on single site(remember they maybe all scammer!) and hoping that you get payback and some profit before they close their web site.
**Please note that this choice is really risky, be very caution for what you decided.**
Hope that my experience maybe useful for you :)
--Source of information--
www.cmmonitor.com
*For cloud mining site please use google*
*Sorry for my poor English skill*
You could check hashnest. Long run and reputable, but for sure not PROFITABLE. Invested 0.5 BTC in January, fo far recovered 0.35.
They used to lease Antminers S3 S5 and S7. S3 and S5 are allready dead. S7 just started to produce negative outcome. So the site most probably will close soon
Yep let's see whether Antminers S9 could improve cloud mining situation or not.
Also thanks for the information.