Cloud Mining Explained here
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  1. #1
    Administrator PeterDrew's Avatar
    Join Date
    Apr 2017

    Cloud Mining Explained here

    Cloud Mining Explained.

    There are many ways you can participate in Mining Bitcoin and other Alt or Alternative coins and be a part of the ever expanding Bitcoin Community. Bitcoin mining leasing companies allow you to participate and be part of the blockchain network by leasing out their Computing Power to the public. Leasing Companies do this to expand their own network while at the same time, letting less technically minded people get involved and profit from mining bitcoin and other Alt coins.

    In simple terms, bitcoin mining is converting electricity into computing power to run the decentralised blockchain of computers. These computers solve equations that are the fundamentals of what the blockchain technology is. It's a proof of work system designed to be unhackable, decentralised. Each transaction is verified by Bitcoin Nodes, computers that host the entire records of each transactions that occur in the blockchain network. Additionally the bitcoin mining computers process each of the financial transactions that happen around the globe.

    Cloud mining is the entry point for most people who do not have the technical ability to create their own mining computers, though allows them to become a part of the community and help the Bitcoin network grow, with little time investment of their own.

    People who do have the technical ability to create their own bitcoin mining computers also invest in cloud mining due to its ease of entry and to part of a larger "Pool" of computers that find new "blocks" faster (More profit.) Plus tech savvy people use cloud mining as a diversification strategy, to insure against how long their own equipment will be profitable over time.

    The largest and most trusted Cloud Mining Sites are:
    www.Genesis Mining

    Then there are the lesser known Cloud Mining Companies.

    Cheap Electricity Drives Bitcoin Mining Companies to Canada.
    Canada has cheap, Green, Hydro electricity.

    Ease of Entry is the main selling point of Cloud Mining Farms or Companies. They are called "Farms" because they are Huge, these companies traverse the world looking for cheap electricity to run the 100's of thousands of computers. Just recently Canada who's electricity is Green and Cheap has had their Cheap Green overflow of Hydro Electricity fulfilled by the ever growing list of Cloud Mining Companies taking up their cheap green electricity.

    Here's a great video revealing the size of Genesis's cloud mining Infrastructure.

    Cloud Mining Profitability:

    This image capture is taken from my HashFlare account.
    In it you can see I have 11.46 Terahashes purchased, or Accumulated. See my Re Invest strategy" target="_blank">here to help accumulate more terahashes and more profit.
    What this shows from an investment of approx $2300 USD you will get a return from HashFlare Cloud Mining company of
    $17 per day
    $ 122.00 Per Week.
    $ 524.28 Per Month.
    $ 3,145.67 Per 6 Months
    $6,378.72 Per Year.

    Additionally this image shows that these rates are related to the price of bitcoin currently at $11,632.18. If the price of Bitcoin goes up, which is highly likely the case in my opinion, then your profits increase accordingly. To see more on my thoughts why we are just at the beginning of Bitcoin and why it's got longevity read my post here.
    Crypto Market Cap - what it is and why it's important.

    The above image shows a return on your investment in approx 5 months while bitcoin is at this price, if it increases, then the time to get your money back is reduced.
    Using these stats, after 5 months you'll get your original investment back and then have 7 months of profit, over 12 months gaining a 2.5 times return on your investment.
    This profit comes from the Bitcoins created from the hardware you have leased.
    To Improve your profits by investing back into purchasing more terahashes follow these guidelines

    Getting Started.
    First you need a bitcoin wallet.
    The largest and most credible crypto or bitcoin exchange is
    Register here and get $10 in bitcoin for free just for joining. (after you've purchased $100.)

    After you've registered you will need to verify yourself and your bank details. This is all pretty straight forward and they supply help information to show you how to do this relatively easily.

    Then you choose one or more of the Cloud Mining Companies listed Below.

    Listed by our Preference
    Register Here: (We have tutorials on this forum how to maximise your profits using HashFlare and Tutorials.)

    Register here: Genesis Mining (Closed for new contracts, after recent incredible spike in growth.)
    Use my Code here Fb6AKG and save 3% on your new contract

    Register Here:

    Register Here:

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  2. #2
    Junior Member
    Join Date
    Jun 2019
    United Kingdom

    Cloud Mining Explained here

    not sure about cloud mining but i have used coinbase for about 3 years or longer paid out 3000 usd to me no problems never bought anything tho.

  3. #3
    Administrator PeterDrew's Avatar
    Join Date
    Apr 2017

    Re: Cloud Mining Explained here

    Quote Originally Posted by Barryirome View Post
    not sure about cloud mining but i have used coinbase for about 3 years or longer paid out 3000 usd to me no problems never bought anything tho.
    I've been with coinbase since it started also..

    That's where I receive my funds, and generate commissions also LOL

  4. #4
    Junior Member
    Join Date
    Jul 2019

    Re: Cloud Mining Explained here

    Hard to say, honestly, higher in some cases lower in others. All great to be used together to cover the entire first page though etc.


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