Cloud mining

Joined
Nov 30th 2017
Location
US
I was wondering what are your thoughts on cloud mining?
I'm looking to get into it. I'm in a crypto FB group and there a few people doing it. So far it's been good for them.
I'm new to crypto and this will be a new venture for me.
I figure jump in while I can.


IaimToMisBehave
 

V4Vendetta

Moderator
Joined
Apr 14th 2017
Location
Texas
I was wondering what are your thoughts on cloud mining?
I'm looking to get into it. I'm in a crypto FB group and there a few people doing it. So far it's been good for them.
I'm new to crypto and this will be a new venture for me.
I figure jump in while I can.


IaimToMisBehave
I'm not a fan to be honest. Too many potential issues. A lot of cloud mining companies have either been hacked or had funds stolen from insiders. Plus a lot of people complain that a lot of these companies game the payout schemes so you don't actually get paid out the amount you should. Up to you if you want to try but I would suggest, if you want to start mining, to get your own equipment, utilize YouTube, and do it yourself. You can generally make more that way and you don't have to worry about anyone gaming your payouts.
 

V4Vendetta

Moderator
Joined
Apr 14th 2017
Location
Texas
I'm not a fan to be honest. Too many potential issues. A lot of cloud mining companies have either been hacked or had funds stolen from insiders. Plus a lot of people complain that a lot of these companies game the payout schemes so you don't actually get paid out the amount you should. Up to you if you want to try but I would suggest, if you want to start mining, to get your own equipment, utilize YouTube, and do it yourself. You can generally make more that way and you don't have to worry about anyone gaming your payouts.
You should check this guy out
. Great resource for mining. Does walk through tutorials on his youtube channel.
 
Joined
Nov 30th 2017
Location
US
I figured I will give it a go. I'm willing to throw a few bucks and see where it goes.
Thanks for the heads up.
My buddy and I are planning to start mining ourselves.

By the way, so u mine coins?

IaimToMisBehave
 
Joined
Nov 30th 2017
Location
US
I have 8 running now. That mines about 0.15-0.2 ETH per week (that’s if you run them 24/7). I just started dual mining Decred too. I like them a lot. Check out Crypt0’s interview with Luke from Decred.
We ordered 8, 580s. But we have been waiting for almost a month and so far the company we ordered from hasn't got it in.
How long have u been mining?

And what is dual mine decred?

Mining 2 coins at the sometime?

IaimToMisBehave
 

V4Vendetta

Moderator
Joined
Apr 14th 2017
Location
Texas
We ordered 8, 580s. But we have been waiting for almost a month and so far the company we ordered from hasn't got it in.
How long have u been mining?

And what is dual mine decred?

Mining 2 coins at the sometime?

IaimToMisBehave
I haven’t been mining long, only a couple weeks. Still a mining newbie (ha ha). But yes, there are dual mining scripts you can run that enable you to mine 2 particular coins at the same time (generally it only works in conjunction with ETH - eg. ETH and DCR or ETH and SC, etc). Some coins have similar code in that running them together in the same script minimally effects either coins hash rate. There are other examples other than ETH you can use as the base coin but I think mining ETH while you can is the most worth it. If you want to mine say, ETH and XMR, you’d need two separate mining rigs.
 
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