[quigley]

I stumbled upon a new-ish service at cloudminr.io. I'll play guinea pig for the community, and document my experience here.

They've been around since November, and reviews that I read were positive. They have names and an address listed on the site, and claim to be filing as a legal entity.

I grabbed the 100 GH/s they offer for free, and added 250 GH/s at the current (until Thursday) 0.00105 BTC/GHs sale price. My balance is slowly ticking up at about the rate you'd expect, and I'll find out Sunday how the payouts go.

If you want a referral link, I can provide one in a PM. I don't know what the rules here for that are yet.

Stay tuned!

[cyberdexter]

I saw this maybe a week ago some place.

The design or website template instantly reminded me of a site that folded on it's users. I was looking for the thread on HT to compare or to find an old screen of the site I have in mind but didn't succeed.

Perhaps you remember. There was a thread a while ago created by a user about "diversifying your portfolio" or something. He compared that site, LTCGear and another provider and explained why he was invested in those sites. A while into the thread the site folded and someone noticed that the deposit address for the site was the same as the BTC tip address in his forum signature.

I can't say for sure if it is indeed the same template and therefore most likely the same site or not.

[quigley]

The one thing that irks me about this site is the 30% off coupon that they have going on right now. Reminds me of the LTCgear massive discounts...and you know where that got us today. Big discounts like that raises red flags for me now. I'd like to think they are just doing that well that they can afford the discount, but I also thought that of LTCgear as well. So, basically I am just jaded by large discounts because of the recent happenings around the block.

They're supposedly celebrating their 30,000th customer. When I registered on the site, there was no such discount, though I saw that there had been similar discounts for Black Friday, Christmas, and New Years. Each sale lasted only a couple of days. Hopefully these are just to boost the customer base, and this won't turn into the eternal discounts that we saw with LTCGear.

[DirtFighter]

I just tried to have a look and was greeted by "there's a problem with the security certificate"

[Toddimus]

I'm staying away from any more cloud mining. You have no control, and from a strictly monetary perspective, it plays out like a ponzi.
Why do these cloud mining sites pop up? Why wouldn't the owner just mine with their hardware and keep all the profits? Maybe I'm just sore from my cloud investments, but that's the lesson I'm walking away with.

[quigley]

I'm staying away from any more cloud mining. You have no control, and from a strictly monetary perspective, it plays out like a ponzi. Why do these cloud mining sites pop up? Why wouldn't the owner just mine with their hardware and keep all the profits? Maybe I'm just sore from my cloud investments, but that's the lesson I'm walking away with.

Sadly, for those of us without free power, or who cannot have the noise, cloud mining is our only option.

A model exists for cloud mining to be a stable, profitable business. Sadly, it seems that not very many people running cloud mining businesses have figured that out yet.

[quigley]

What cloud mining sites have that model? If you don't mind sharing. I am kinda spooked by cloud mining right now, but if there is a stable model, that would be awesome. I don't mind if the payouts are lower, a stable model is what is needed. Unfortunately greed is feeding this market, which makes scams super easy to create. No one will go for a longer ROI, even if it is stable. The greed feeders wan the faster ROI that they can get. They don't care about crypto, it is a commodity not a currency to them..frustrating.

None yet, that I know of for certain, but I haven't got perfect insight into all the cloud mining operations out there, and it's very hard to tell what's going on from the outside. I suspected LTCGear of using it (and I haven't written them off quite yet). I thought GAW might have been using it in August, and indeed that may have been their initial plan, but they've since abandoned it. Cloudminr.io is certainly in a position to use it as well, but again, it's very difficult to tell without more insight into the company.

[cyberdexter]

Don't confuse any other provider with LTCg buddy. There was good reasons why LTCg was able to offer those prices for a long time. Namely the modding of the ASIC chips and self-mounting on the boards etc. That claim was plausible for a good period of time but then became a lot less plausible once the price dropped down to less than $2.50 MH/s.

I can't see any other platform meeting or offering such price without either doing it the same way Chris does or did or by simply being a full fledged scam from the beginning.

I'm staying away from any more cloud mining. You have no control, and from a strictly monetary perspective, it plays out like a ponzi. Why do these cloud mining sites pop up? Why wouldn't the owner just mine with their hardware and keep all the profits? Maybe I'm just sore from my cloud investments, but that's the lesson I'm walking away with.

Good points. I believe there is a market for cloud mining and that it can be done again (soon, not now at the current BTC rate) but most are scams imho. Why do they not just mine with their own hardware (if they have any)?

Because they can make more from charging for the actual MH or GH by selling you the actual power or virtual miner or shares and then paying you out from the mining proceeds. It pays of the hardware for them and makes extra cash for new hardware.

[Toddimus]

GAW had it right the first time they were hosting... Your rig, your pool, just pay monthly... They never got to that "pay monthly" part though.

That model is one that should be replicated.

[xephyr]

I have been using cloudminr.io for a few weeks with no problems, the option to reinvest earnings is good. Contracts are five years compared to one year at Bitcoin Cloud Services.

[cyberdexter]

None yet, that I know of for certain, but I haven't got perfect insight into all the cloud mining operations out there, and it's very hard to tell what's going on from the outside. I suspected LTCGear of using it (and I haven't written them off quite yet). I thought GAW might have been using it in August, and indeed that may have been their initial plan, but they've since abandoned it. Cloudminr.io is certainly in a position to use it as well, but again, it's very difficult to tell without more insight into the company.

Hmmmm.... interesting.

---

That model is one that should be replicated.

for sure an interesting base model. I said it many times imho GAW was on to something great but then the focus shifted. Deep down there in the rabbit hole something really cool got forgotten

[quigley]

How is cloudminr.io treating you? I am thinking of getting some hashing power there. If I do, I will PM you for your affiliate link, if you have one.

It's been fine thus far, though I've been involved less than a week at this point, and won't receive my first payout until Sunday. My balance is steadily increasing at about the rate I'd expect, and they appear to be relatively communicative with their customers and the wider community. So far, so good.

I do have a referral link. I will happily share it with you in a PM, if you're inclined to use it, and thank you for considering it.

[cyberdexter]

Please let us know on Sunday. I am dying to but some coins "somewhere".

[cyberdexter]

Is there a "proof-of-hashing" on this site? Did they ever show off their mining power?

[k317x]

I threw ~0.5 BTC at Cloudminr.io a few weeks ago & the payouts have been reasonable & consistent. There is very little real info available on them, so I'm not going to be putting much more into it, but I'm hopeful long-term. I posted a support ticket about 2fa & they answered back quickly with a "coming next month" promise. They might even do it

[k317x]

Is there a "proof-of-hashing" on this site? Did they ever show off their mining power?

Nope, some very dim pics that could be from anywhere is all you get.

[cyberdexter]

Would you mind sharing some payout info? What's their avg payout per 100 GH or for 1TH?

[k317x]

Most of my stats aren't straightforward because I reinvested randomly & combined contracts. The past few days I'm seeing 0.00112673 per 100Gh per day which would gen full return at just under 100 days if it sustains.

[P4ndoraBox7]

I'm with Cloudminr since a month, they paid every weeks and I have a few TH there.

One GH gives an average of 0.00001000 to 0.00001100, fee include.

Overall fee ; 5% per GH, in Bitcoins ( Lowest fee ever I found in a cloud mining company. )

Fee are low cause they are located in Norway and have some nice deals with electricity.

Tried the support and got answered by Adrian directly ( the one who created that company ) in less than 24 hours in their business hours.

At the moment there is one promo code you can still write to have a better ROI, you just have to write '' BITCOINALIENS '' and you'll receive 21% discounts.

With 30% discounts they gave last weeks to celebrate their 30k customers, I had a ROI of 180-200 days.

Honestly, I recommend them, you may follow Adrian at www twitter com/cloudminr

So if some people search a way around to make profit into crypto mining its the company that I suggest at the moment.

Referral link removed by Admin

And by the way it's my first post here...I'm the same P4ndoraBox7 that was on Hashtalk and I'm in the move to get out of all this mess, too...Have a great day everyone.

[deeneendo]

the only cloudmining I am still invested in are:

• hashnest (bitmain being behind it, I trust them more than any of the other operators right now)
• hosted S4 at Umisoo in China. they have 2 large advantages: you are free to send the hosting fees upfront, when BTC value is high, and if this is not the case, it is possible to use PayPal, so if BTC value is low for a stretch of time, you can avoid having to spend coin by using FIAT to pay for the hosting.