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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.


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Location: Toronto, ON, Canada

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