Skip to main content

Cloud VS Physical Mining

This post may be a bit of a rant.





So as many of you know, the bombshell that zeusminer was no longer providing new hardware to it's customers, and instead is converting everything to cloud mining thing... Well, it got me fired up.

I'm sure there was a reason (hopefully not what I believe to be unbelievable greed), but a pre-order customer has to feel shafted. I love this community and this is, in my opinion, on the same level as that KNC garbage that was pulled a short while ago.

If you're a normal reader of this blog, you know I'm a fan of cloud mining. Great service to have, and competition in the market place helps the cloud miners get a competitive deal on hashpower.

THIS BEING SAID. Enough is enough, if you're a miner looking to get some hardware for home on at least a moderate level, it's impossible. The only company that I still trust in the mining community for hardware is the rocket-surgeons over at Bitmain.

Bitmain launched it's own cloud mining (of course), BUT they also continue to strive for better and more power efficient miners! Which is unlike any other company out there. GAW: rarely sells hardware. ZeusMiner: Effectively stopped ALL creation and R&D for their new more power efficient chips.

I understand that it's very difficult to create a polished highly technical product, but if you make a statment and say "This is what we're going to do", don't back pedal. I know everyone doesn't share this viewpoint, although it makes it very difficult to trust companies like Zeus and KNC when they end up doing things like this to their customers.

Not being able to mine at home is rough because the maintenance/electricity costs from cloud mining services are pretty flipping steep. So before you think about getting into the cloud mining game, figure how much the amount of hashpower is going to run in maintenance costs from the platform, and remember they will raise as BTC drops. So if in one given day the price drops to $150, you are paying double in BTC than you would at it's current level at $350.


Labels:
Location: Toronto, ON, Canada

Comments

Post a Comment

Popular posts from this blog

Antminer S3 Setup Guide & Review

Overview This is for the Antminer S3 , mine are batch 11. So to get started, the units are very nicely made from my experience, and actually not too bad to get started with. You're going to need your miner, a PSU (power supply unit, like the one in your PC) and an Ethernet cord. S3+ Specifications: Hash Rate: 453 GH/s±5% with great OC potential   Power Consumption: 355 Watt at the wall    Power Efficiency: 0.78J/GH on wall   Power Supply: 12V DC Size:  331 mm x 137 mm x 160 mm  Fans: Two 14038 fans mounted on both front and back ends   Operating Temperature: 0 °C to 35 °C   Complied with: FCC / CE Network Connection: Ethernet   Power consumption: This figure depends on the PSU efficiency, ambient temperature and the accuracy of the power meters. Step One: Network Let's prepare your network. You need to have your routers IP address to look something like 192.168.1.X. The x can be reall...
1 comment
Read more

PoolWarz SHA-256 Auto-switching

What Is Pool Warz? PoolWarz is a pool (with a collection of different mine able coins) that has a little bit of a different approach to the set up of your miners. Creators of this site also bring you CoinWarz , and RigWarz , now have their own pool, they're not linked to one another however. Within PoolWarz , when you create a worker, you only point your hardware at one URL, as opposed to multiple different URLs for separate coins. At anytime you can alter what coin this worker is mining by changing where it's pointer (or "assigned" to ) on your dashboard in your PoolWarz account. Subscription There is an option to pay a monthly subscription fee to PoolWarz for a 0% fee (as opposed to their standard 2% fee) and also getting the ability for "auto-switching". If you've been mining for a while, you'll know the concept of "auto-switching" because it's the same as a multipool basically, except you keep all the coins you mine. ...
Post a Comment
Read more

Shift Payments Mobile App - Android

As you know, I just got a Bitcoin credit card from Shift Payments which i reviewed a few days ago here . Overview I love the card, and a mobile app for a product like this, in my opinion, is a must. The application is pretty handy and basically takes the place of any kind of website account / web-app. The app is for both iOS and Android devices, I'll be using the Android app. Boot screen Something that a lot of apps seem to forget, that Shift  hasn't, is above all keep it simple. The app has a clean simple design that makes it very easy to navigate and consume the functionality within. Wallets & Accounts Accounts screen With the ability to add and remove accounts on the fly, and choose your active account (The account you withdraw bitcoin from) quickly and easily is done very well. It drops that average "slide in" menu from the left or right as most mobile apps use, which is great because that's just one less tap you need to...
Post a Comment
Read more