How Does EOBot work?

  • Ok so I've heard people mention that EOBot is better than Nicehash and I'm trying to figure out how.....I got 463 sats from the EOBot faucet, exchanged it for a 24 hr SHA-256 contract and I'm only gonna make like 358 Sats from the 24 hour I just lost almost 25% doing the mining contract.....

  • @socal I tried many combinations with NiceHash contracts and they all either breakdown or nearly reached breakdown. I got to decision that those prices are all calculated so that you won't make benefits as they advertise.
    Don't know EOBot, I don't think it would be any better than NiceHash
    Update: Actually, you lose since you pay in BTC and you mine ALTs and later you convert to BTC and lose the transaction fees 🙂

  • @socal Change it for 5 Year Rental.
    Honestly the one who tells me that this kind of services are profitable ... I laugh in his face.

    I have accounts in several of these services and unless you invest a good amount of money that allows you to buy more power of mine quickly to recover the invested is not easy

  • The return on eobot will take over a year likely 1.5 to see a return and it is cloud mining so who knows how long it will even be up...

    I use the faucet have for a while I turn to doge half that then to gh4 and half to cure I then mine cure and withdraw at 1 or 2 coins to polo it is easiest way to get btc return for free from them.

    I have used 24 hour to see and in less you got alot and a coin pumps you will always lose

  • admin

    moves this to off topic

  • Honestly.... Eobot and genesis are both ponzi's in my opinion...

    IDK about nicehash

  • @kmaxkmax are you sure, where is your proof?

  • @kmaxkmax I know eobot and genissis is a Ponzi idk about nicehash.

    But to use eobot free faucet you can get coins

  • @skyline_king88 where is your proof?

  • @iKnow0
    Genesis mining is not a ponzi. It's mining operation in Iceland is mentioned in this video:

    Although how profitable it is to cloud mine these days, I can't say.

  • @TrickyHunter i already knew, this i am just worried for @kmaxkmax & @skyline_king88 they are slandering a multi-million dollar company on a public forum. Be careful guys...

  • @iKnow0 ok so maybe genissis is not shown as a Ponzi but I know quite a few people that have had contracts end just before profit and we'll I don't trust any cloud mining anymore

  • @skyline_king88 When you are handing your money over to someone else to make money for you, you are taking a great risk in doing so. The more people that come between you and the way that the money is made i.e. the source, the less you will make.

    I've tried cloud mining, it's long term and not super profitable.

  • @skyline_king88 have a look at craig grants video's on youtube, he explains that unless you keep re-investing its a losing proposition, which makes sense if you take into account the increasing network difficulty. A simple analogy would be buying a car and expecting it to last forever. In accounting speak this is called "deprecation".

  • It is clear that they can not be considered a ponzi as such but unless you invest a good amount of money is only profitable for the company.

    Because you have to invest a good amount of money ??? Because as the difficulty increases if what you generate is not enough to cover the loss of the increase in difficulty.

  • @iKnow0 @TrickyHunter @skyline_king88

    Here is one of the million articles on the internet... enjoy

  • @kmaxkmax again only opinion not proof, opinion is worth zero in a court of law. Don't you think that this individual is highly invested in Bitcoin and hence a conflict of interest. Bitcoin mining is currently suffering from convergence, first it was a CPU, then GPU, then pools of GPU's, then ASIC, then pools of ASIC's, then Mega Farms of ASIC's... so its in his/her interest to discredit any competition.

  • I just know cloud mining is a scam.. I started bitcoin collecting found cloud mining and hyips thought both were awsome till ya find out you will lose alot of coins maybe not right away but you will..

    I lost on hash ocean witch was up for 2 years.
    Cldmining lost witch was up for a year.

    So yes in general I feel 99.999% are a scam.
    Also the fact you rent x amount ghs even if you win a block guess what you don't have a worker so you don't get anything extra.

    All in all I say you guys should be very very careful investing in these sites.

    Also you gotta be one the first people I have seen defend these sites.

  • Ok years ago i bought into Genesis when they first came out , i actually got back my investment there but only just then bang lost the hash, was really pissed on that one

    Hashocean , i new they were dodgesters but thought i would just play with a little 0.1 btc , ok them being a scam i actually made 1.1 btc after re-investing it for a while , was totally surprised on that one and yes im talking about actual withdrawals from there site , last withdrawals was going to be 0.25 btc but then they went AWOL!!

    Eobot been on that since moses played fullback for jerusalem , with them you will never ROI , even only thing i find them good for is the free doge on there faucet

    The only legitimate cloud mining that is there is hashnest , in my opinion , there real, only way to make good returns from them is trading the hash on there hash market as mining to be honest with bitcoin is out of the reach of the average joe, unless your happy to spend big $$ for pennies over a extremely long period!!

  • I use Eobot and have been very happy with them.. I mine then change to GHS im up to just shy of 500 ghs 4.0 right now.. i like that i can send any payments there like from a casino and then do 5 free withdrawals a day. to move around as needed. I dont really leave any amounts in there after transfer to polo and other sites anyways. that way is they up and leave, oh well