BitCoin for Beginners – Cloud Mining & Cloud Hashing – Part 4 – Free BitCoin Contest ROUND 2



Welcome to Bitcoin For Beginners Part 4! In this part we will cover Cloud Mining, also known as Cloud Hashing to some people. Cloud Mining allows a person to purchase mining power without having to purchase the actual mining rig. Bitcoin Mining equipment and software can confuse people and be extremely costly! Since the “difficulty rate” for mining Bitcoin is increasing, more and more mining power is needed to keep up with the ever more challenging blockchain. Cloud Hashing is offered by quite a few companies, typically in a yearly contract form.
Please be careful as some people advertise “Cloud Mining” on eBay and other places where nothing is guaranteed and they might promise you more than what you’ll get. I recommend going to a major cloud mining website and only invest what you are willing to lose. I conclude at the end of the video that cloud mining is not very profitable. Since people are still very interested anyways, I may get involved just to share the experience with you.
Remember, the key to cloud mining is the price of the mining speed/power (GH/s)

I hope you like the video and thank you so much for watching!

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Free BitCoin Giveaway Contest – ROUND 2
How To Play

Step 1: Comment on the video
Step 2: Like and thumbs up comments that you like the most.

The top 5 individual YouTube user comments with the most likes will win in Bitcoin (BTC) I will transfer the Bitcoin to any address you specify when the contest is over.

The contest will end on: December 31st 2013

The contest is in YOUR hands, and this will be fun. The winners will be able to apply what they learn in the videos with their own Bitcoin. Remember, you cant win if you don’t comment and like! (and maybe give the video a like also if you want 🙂

Thank You!


  1. p.s I accept tips and will gratefully accept
    BTC: 1Leb7dyVnzhue9GFmrrFzAPRLe766Fazgz
    DOGE: DS8urLUQd6PXAdgwjH8vrkuczUiqVLt59s
    LTC: LhVbMBSSYCiR5j3x4nmDi7QESBzjSLgorg
    XRP: rEsh9eJJiFQd2dCJe7JrArs2ZnwuES3ksU

    thanks =) by the way Cloud mining is great because you do not have to store the noisey hardaware at home or risk catching your house on =) great investment all round!!!

  2. I buy my bitcoins from a guy down a dark alleyway, but my weed guy keeps laughing at me wen I ask to trade em for bags and asks me if I have brain damage from watching to much youtube….. Lmao only kidding…. Ahhhh sleep now…. lol

  3. I see this video is 6 months old, but you NOW gotta be careful, the CoinTerra TerraMiner IV will mine at 2TH and it is still hard to make a profit.  Plus it will be obsolete before you can log into Coinbase.  I think we missed the bandwagon on this one, but damn informative videos Jay!