Whats the difference between cloud mining & mining pool section??

[Sincerem]

Seriously, they are quite similar in so many ways and when you take a good look at it, you will definitely undoubtedly understand that there isn't much any difference.

Yes, they aren't much difference between cloud mining and mining pool network. Cloud mining online tries to claim to have a mining pool offline, mining genuine crypto like BTC, or ETH. But that's not true, most of them just have same mindset like ponzi.

 

[GIFTMICHAEL]

Since many people online are using this kind of avenue of scamming people off their cash online, by claiming they are legit cloud mining site, having pool offlinem that's simple way to scam people online.

 

[Heatman]

Since many people online are using this kind of avenue of scamming people off their cash online, by claiming they are legit cloud mining site, having pool offlinem that's simple way to scam people online.

Seriously, there are countless cases of online scams especially associated with cryptocurrency. It's why most social sites ban the use of cryptocurrency ads on them, for example Facebook.

 

[GIFTMICHAEL]

Seriously, there are countless cases of online scams especially associated with cryptocurrency. It's why most social sites ban the use of cryptocurrency ads on them, for example Facebook.

You're right. Their are too many scams around crypto, that's why we need to be careful with all the ads displaced on the internet. Facebook saw the high level of scam going through it, that's why they banned such ads being displaced on their social media site.

 

[Kelly5]

They are kind of similar actually. Mining pool is when a bunch of miners come together and share processing resources to mine bitcoin because you need large amount of processing power to actually mine Bitcoin. While cloud mining is when there is a large data centre with large processing power so you connect to them via the cloud services and they mine the Bitcoin for you.

You seem to know your stuff though. I like that. You actually have me a very clear picture of the use of these two confusing terms. They've been really weird for me to differentiate

 

[Heatman]

Personally I don't like anything called mining whether it's cloud mining or any kind of mining once they mention mining elite I am not interested because it's a complete waste of time for me.

 

[Sotherefore]

I don't have any understanding of those things all I know is that cryptocurrency can be mined in pools and what that means is that a group of people will come together to share everything like mining connection together and how they do it I do not know .

 

[FreshKaz11]

I have heard many things about mining pool and cloud mining. But i never know how this two mining system works. I'm still gruelling about how they work and the big difference between them.
Can any one explain the difference between mining pool and cloud mining system??

I can't give bad or wrong answer to your question in this post,but am also here to learn and know more about the both of them and I would like to know the difference as well.

 

[Sincerem]

I can't give bad or wrong answer to your question in this post,but am also here to learn and know more about the both of them and I would like to know the difference as well.

Mining pool to my best understanding, is where group of miners come together to form a mining block, by contributing to acquire the mining tools, hardware, and other essentials needed to mine digital coins. While cloud mining services are websites online claiming that they mine real BTC or any coin, and demanding you deposit to have chances of earning. By contributing to buy some tools/hardware components for them to mine crypto and bring your returns based on the contract selection you choose.

 

[Heatman]

A lot of people don't really understand the difference between cloud mining and pool mining which is why I believe a lot of information should be created and made a way for them to know the difference and know which one they can take part in.

 

[Sincerem]

If they read my take on the difference above they'll surely get a clue about what cloud mining and mining pool is all about. And differentiate between each other.

 

[Heatman]

Personally from my experience of having been a failure when it comes to mining house make me to look down on any kind of mining no matter how a lucrative it seems to be for people that are engaged in it

 

[Sincerem]

I don't consider mining with my mobile or desktop computer to be lucrative or real mining. Let alone investing on an unregulated mining site that sounds too good to be fake.

 

[cowantussie]

A mining pool is a joint group of cryptocurrency miners who combine their computational resources over a network to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency.
How a Mining Pool Works
Individually, participants in a mining pool contribute their processing power toward the effort of finding a block. If the pool is successful in these efforts, they receive a reward, typically in the form of the associated cryptocurrency.

 

[Heatman]

Well for the record that they are called cloud mining and mining pool means that they are quite different from each other in all ways. Most people are familiar with cloud mining.

 

[Sotherefore]

We may not be able to have the answer about this one because this can easily be interpreted by crypto miners because they are the one that deal with all this thing, anyway I will just like to know but I need to do my own personal research about it.

 

[Heatman]

A mining pool is a joint group of cryptocurrency miners who combine their computational resources over a network to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency.
How a Mining Pool Works
Individually, participants in a mining pool contribute their processing power toward the effort of finding a block. If the pool is successful in these efforts, they receive a reward, typically in the form of the associated cryptocurrency.

Thanks for sharing this with all of us here who are actually new to the world of cryptocurrencies mining ⚒ as it's not something that we can easily earn from, so I don't take it seriously.

 

[Good-Person]

Since many people online are using this kind of avenue of scamming people off their cash online, by claiming they are legit cloud mining site, having pool offlinem that's simple way to scam people online.

There might be many scam mining pools out there. However, not all the mining pools are scams. There are indeed many legit mining pools out there but you just need to be very careful. However, cloud mining sites are definitely scams, so please stay away from them.

 

[GIFTMICHAEL]

There might be many scam mining pools out there. However, not all the mining pools are scams. There are indeed many legit mining pools out there but you just need to be very careful. However, cloud mining sites are definitely scams, so please stay away from them.

Already I'm faraway from them, i don't see myself wasting time around them. As for the mining pools, they're simply legit but not done with mobile, or desktop device.

 

[Good-Person]

Already I'm faraway from them, i don't see myself wasting time around them. As for the mining pools, they're simply legit but not done with mobile, or desktop device.

Please note that connecting with a mining pool would notmean that you will mine a lot of crypto. I have tried mining using various mining pools in the past nad it did not work for me because I never had a good hardware to mine coins.