Why would you join a cryptocurrency mining pool -- that is, purchase a mining contract? And how can you parse the legitimate operations from the scams? Charlie of CryptoCompare offers up advice based on his own navigation of the exciting seas of the mining pool.
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'How to Identify a Bitcoin or Ethereum Cloud Mining Scam': https://www.cryptocompare.com/mining/guides/how-to-identify-a-bitcoin-or-ethereum-cloud-mining-scam
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Good insights! Another important thing to know about contract mining is that the return they quote doesn't take into account fluctuating prices and difficulty. I've started developing some side-by-side comparisons to help shed some light on more realistic return prospects. It's a work in progress, but if you take a look, I'd appreciate your feedback - www.how-genesis-mining-works.com
Weighing in on the cryptocurrency mining, my experience has been exceptional with over 400 of our members mining with daily returns. I can't say enough good things about our history with mining farms except we all wish we had gotten in sooner. Thanks for the update.
what's better and please think about all aspects. power costs ect. a rig with a few professional grade high 4gb to 8gb autocad type Nvidia or Amd cards let's say 6. or a bunch of little raspberry pies?
Here goes my bit of knowledge: www.badbitcoin.org and the click on "The Badlist".
You'll find a massive list of scams/ponzis/etc sites that would gladly rip you off in the name of Bitcoin.
Also, the revenue you obtain from those contracts also depend on the difficulty of Bitcoin, which by the way, is skyrocketing, making mining less and less profitable: blockchain.info/charts/difficulty.
I have to agree with Charlie that the most transparent companies I've seen are Hashflare and Genesis mining. Is there a link to the whole interview?
Fantastic DK cover song "Utra- Super- Kitch- Noir".....(If I may coin a term), Tarantino level. ABJ- I posted an E-mail to Greg Hunter to Interview You. Viva La Competition ! Hope to read Mastering Bitcoin soon. All the Best not so subtle Ninja.
+The Daily Decrypt I sent the Email and sent a couple of your vids as a "Res Ispa Loquitur"...He covers Economics Politics Banking/Finance. But I truly believe you are (pardon the expression) a "Super Model of a current and future zeitgeist/reality" that is way under the radar....Me...I try to watch everything, and what you cover I never saw coming and it is here. Further I would find it delicious for it to take the stage now ! And so I try to breath on the Embers. I was explaining the "trustless contract and the "Arcade/Uber/Dude- biz-model" to someone, and it freaked them out as to the Stonehenge Reality they are in....BTW a piece of advice is buy some Physical Precious metal if you can GLD and SLV look like they are on a breakout and I think the Chinese buying the Chicago Stock Exchange might be to convert it to be a commodities exchange with no speculation futures....."golden rule" "Those with the gold make the rules. All The Best Champion. and thanks for your vids and the MUSIC is SEN- SA -TION -AL! :>!
bitcoin is the last shit this days. Secret meetings behind closed doors coming again. Censorship on reddit, and other places. ddos attacks on other core implementation like bitcoin unlimited xt and so on. Ignorand core developer's that only want to work 4 blockstream funding company interest. bitcoin is not far away from fiat money anymore with central planing behind closed doors and ignorant governance. i am close to leave bitcoin and drop all btc
who are not scams? We would love to promote their business instead. Based on our research hashflare and genesis were legitimate.
Feel free to come over to CryptoCompare and review them or advise us on who the non scams are. We would love to add them to the list.
When i look for cloud mining reputation i just google "<cloud miner business name> + ponzi".
I like the assessment on "Digiconomist" webpage, i.e.
Genesis Mining has 3 stars: http://digiconomist.net/fraud-risk-assessment-genesis-mining
By the way, I haven't seen a smart contract binding a mining contract. Why would be?
P.S.: Hashflare and Hashcoins has a very bad assessment according this page:
(Just be carefull)
+Vlad adrian would u know about any cloud miner who backs their contract on a smart contract?... It would be the perfect antidote against scammers, don't you think?.
If you find anybody offering one, I'd take it.
I think the smart contract /mining contract combination would work really well and would benefit honest companies.
Also i think that if one does it, all the serious companies would follow.
The fees and pricing schemes are generally the bottleneck I think. We are talking to Oraclize.it to bring our volume weighted average price for each coin to their service. Hopefully that would make more mining contract providers move to smart contracts.
I totally agree that smart contracts are the future of mining contracts.
Well +Whats Wrong
(I'm sorry, I'm rectifying my last answer)
You would take a look on an eficiency table, like this one:
One of the most eficient hardware your inverter can handle, according this table is
You can use TWO of these equipments.
Will give you more than 9 TreaHashes per second and runing just 81% of your inverter capability.
Depending on the brand of your inverter I recomend you don´t run it over the 95% of capability. That use to be to optimum eficiency point.
You could start with Ethereum mining. Check the guide in the video link. At the current network hashing power and price, ethereum is the most profitable.
I don't know how long the price is going to stay up but you can generally switch to a different coin when/if ethereum becomes unprofitable.
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