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RE: EDIT: Potential Ponzi! - SierraHash offering free 150 GH/s BTC mining
so you get free bitcoin, mined by someone else?
what is the catch!
so you get free bitcoin, mined by someone else?
what is the catch!
see the update to this post... Looks like there is a big catch unfortunately!
No catch. You won't earn much from 150 GH/s , but probably around 3-4k satoshis a day.
The company benefits because you'll use their product and might buy more power from them and some people will reinvest the earned BTC to increase power and BTC earnings.
The other way is to sign up and withdraw 100k satoshis each month or so for free. Just added bit of BTC to scoop up in my opinion
Sorry - yes they are mined by the company giving you hash power. They own the equipment, but you will own 150 GH/s of bandwidth on that equipment.
As I said in response to an earlier comment, cloud mining can be a mixed bag. Personally I'd like to see the price and difficulty of BTC stabalise before I put any of my own cash in, but when it's stable it "can" be good.