Free Mining Experiment
So I have been enamored with these new could mining services that offer free mining power to start up. I have signed up for a few to see if I can actually get a payout on any of these services. I have no illusions of actually getting a payout, but I thought I would share a couple that I am currently using to see if they are actually work or if they are just a scam.
Eobot
First one I use is Eobot. I have spoken a length about these guys and they offer a cool service that gives you access to a large group of coins to mine. They have a faucet that can help you build mining speed. It takes a long time to build mining speed on this platform and the fees can be high for exchange to purchase contracts. But it is free. Steem can be mined on this site and transferred into your Steem account, but honestly it would be easier and cheaper to just buy it or build it up through faucets and exchanging your earning through the Blocktrades service. This is a strategy that @mawit07 turned me onto. The do have some referral benefits for getting new subscribers so that is nice.
Ilivion
This is one I found last night while claiming faucets. They give you a 100 GHS to start and allow you to mine Bitcoin, Dogecoin, Litecoin as well as the GHS to grow your mining power. This service also allows the miner to allocate mining power across all the coins. It does have a faucet that pays in Dogecoin that can be claimed at an unlimited rate. Will warn you though, some of the adds attached to faucet are pornographic so be prepared for that to pop up. The faucet earnings can be used to buy extra GHS for your account. At the current rate, it costs right around 3.8 Dogecoin per GHS, so mining power can be bought fairly quickly.
Bit Fire Mining
I found this one as well last night while claiming faucets. This platform give the user 100 GHS to start with. I don't have much information on this platform yet as there is not much to really look at on the site. There is not a faucet attached to this site. I am mostly interested if I can actually get this to payout once it gets to a level that I can draw on it.
Sierra Hash
This one I found by accident about a month ago. They give you 150 GHS to start out. So what is cool about this one, I hope, is that it will all you to reinvest your earnings in to buying more GHS. I have been running for 23 days and have accumulated about .0005 BTC and when I reach .001 BTC I can purchase an extra 400 GHS. I am curious if this will work or if I can get a payout eventually.
These are the ones that I have been playing around with. To be honest, these are all really trying to get the user to deposit more coins to buy more hashing power. It is a ploy to play on our need for faster results. I am going to play the long game on this and see if I can actually get payouts without buying actually contracts.
i wish to mine btc but failed,
Physical mining of BTC is hard. It is more cost efficient to by hashing power from a reputable company. Do your research before you buy.
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STOPWhen comparing to the bigger cloud mining companies, where 1THz is about 140 to 230 USD, the website IVILION is selling 1TH at 10 USD....
Its a HYIP, be careful :)
Bitfire seems more legit. 1 year contract for 299 USD.
Its expensive though, for a 1 year contract, has high fees of 0.39USD/THz/day too.
I think you are right in your assessment of the sites. My interest was to see if any of these free services can generate a payout. It would seem that it would be a bad business model to give away mining power and be able to generate a payout without actually paying for any services. I am going to post an update on this experiment today I think if I can get it typed up and posted.