Kenny West
Veteran
Pretty pretty small if all you're doing is cloud mining, here's what I got so far, $1.50 a month
Can you explain the cloud sharing part of minegate? Are you paying usd for them to mine or are you using that to mine it urself?
Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)
- Thread starter irishfury
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Can you explain the cloud sharing part of minegate? Are you paying usd for them to mine or are you using that to mine it urself?
Black Cobain
Donkey Punch? I Donkey Slap!
When you sign up you get a free account with 50 GH/s (3 cents in BTC a day), you're doing the mining via the cloud as oppossed to your own mining rig which would take up way, way more energy than this.
You can buy more power with their pricing plans, plus you get more power with referrals and comissions too.
Black Cobain
Donkey Punch? I Donkey Slap!
You can buy BTC straight up and do jobs for BTC too but I'm just qualified to tell y'all about the free methods, red*it has a ton of BTC forums that can help out
There's gotta be another way.
Kenny West
Veteran
When it comes to buying more power with pricing plans is that like a monthly subscription type fee?
Black Cobain
Donkey Punch? I Donkey Slap!
Pretty much, there's four pricing plans you can do:
Minegate - Bitcoin Mining - The First Shared Hardware Mining
Kenny West
Veteran
Black Cobain
Donkey Punch? I Donkey Slap!
What more do you wanna know about the process, my man?
I haven't paid at all, I just had a lot of people follow my referall link and one guy bought 550 GH/s which got me 28 GH/s for free
Kenny West
Veteran
idk how this ghz/second translates money wise. If I throw 10$ a month at it will they mine the equivalent on one of those plans? Give me 10$ worth in current bitcoin value? How does the .06$ one have more ghz per second than the .09? Can you explain it in layman's terms
Black Cobain
Donkey Punch? I Donkey Slap!
I'm still doing my research on all this too tbh but I think for each plan you pay .06-.09 per ghz:
- 9 cent plan: $45 for 50 more GH/s (19 cents of BTC a month)
- 8 cent plan: $96 for 1,200 more GH/s ($22.58 in BTC a month) -->You cash out at $5.00 worth of BTC
Alloscomp : Bitcoin Mining Calculator
Kenny West
Veteran
So does it run up the gh/s all the time passively or when you are actively mining?
Black Cobain
Donkey Punch? I Donkey Slap!
The plans already give you the GH/s and after you pay you're already mining all you gotta do is wait after that, the mining's being done for you
Menelik II
I wanna see receipts!
OP you should have at least outlined some of the many real negatives and risks with cryptocurrencies.
* high volatility
* the weak security of the various exchanges
* the legal gray area, opposition from governments
* mining is pointless unless you have decent computer power and don't pay electricity bills.
Trading bitcoins isn't investing, they are not regulated at all, you have zero recourse if anything goes wrong. If the company that holds your wallet goes bust or gets hacked that it. Behind the Biggest Bitcoin Heist in History: Inside the Implosion of Mt. Gox
They don't provide any income like stocks do. The price could easily halve in 1 day.
One 1 or 2 of these cryptocurrencies will stand the test of time ( if any), and the others that don't make the cut will be worthless.
* high volatility
* the weak security of the various exchanges
* the legal gray area, opposition from governments
* mining is pointless unless you have decent computer power and don't pay electricity bills.
Trading bitcoins isn't investing, they are not regulated at all, you have zero recourse if anything goes wrong. If the company that holds your wallet goes bust or gets hacked that it. Behind the Biggest Bitcoin Heist in History: Inside the Implosion of Mt. Gox
They don't provide any income like stocks do. The price could easily halve in 1 day.
One 1 or 2 of these cryptocurrencies will stand the test of time ( if any), and the others that don't make the cut will be worthless.
Kenny West
Veteran
Ok so let me get this straight:
If I sign up I get 50 gh/s for free. Question 1: If I put no more money into this would I be charged at some point or will I be able to collect bitcoin for free for 3.8 months I guess?
2nd question: I would be able to buy more processing power at the rate according to the plan. But how is the fee for that determined when I buy? You said 45 for the month. How did you get that answer? (it's not .09 x 60 seconds x 60 minutes x 24 hrs etc) Do you pay that at once or does it mine and accumulate the fee like an electric bill?
I'm trying to find out wtf .09 gh/s is supposed to mean in practical terms.
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Black Cobain
Donkey Punch? I Donkey Slap!
You wouldn't be charged for the free 50 gh/s at any time, you can mine all you want but you can only cash out at $5 in btc
GH/s is Gigahash per second or how much power you mine
I did some pretty crude math that was off ([9 x 50]/100 or something like that), like I said i'll contact the website for exact rates, seems like you'd pay it all at once
