Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
yup my cloudhashing miner will be shutdown as well.
i owe them 30$
its a sad day for cloud mining
Quote
Dear Cloudhashing customer:
Due to the changed financial viability of our cloud mining service, we have decided to increase the management fees associated with the service to USD $0.15 (15 cents) per gigahash per month. This amount ($15.00 per month) will be deducted directly from your mining earnings. If your mining earnings are not sufficient to cover the management fees, you will be invoiced for the remainder amount.
Due to the changed financial viability of our cloud mining service, we have decided to increase the management fees associated with the service to USD $0.15 (15 cents) per gigahash per month. This amount ($15.00 per month) will be deducted directly from your mining earnings. If your mining earnings are not sufficient to cover the management fees, you will be invoiced for the remainder amount.
i owe them 30$
its a sad day for cloud mining
When the dust settles there is no room for cloud mining. For cloud mining to makes sense you're dependent on ever increasing prices. And if you think prices will shoot up like that you should probably just buy coins.
I was thinking they could provide me with the best possible $/GH that i could ever achieve on my own. which was probably the case, but i still lost a fuck load of potential profits paying for the contacts in BTC. I got my bitcoins hashed to bit by the cloud.
I'm not saying it's impossible right now, but eventually, when the market stabilizes, even at a higher level, the margins will get squeezed such that there is now room for an extra link in the chain. Though I wouldn't recommend it now either.
If you live in Canada I am sure there is some poorly utilized industrial estate that is struggling with heating bills. Talk with the owner about letting you install some machines there and just pay for electricity usage and it shouldn't be impossible to mine a bit on the side.