If you want to invest in bitcoin mining without the hassle of managing your own hardware, there is an alternative.You can use the cloud to earn your coins.Put very simply, cloud mining means using (generally) shared processing power run from remote data centres.One only needs a home computer for communications, optional local bitcoin wallets and so on.However, there are certain risks associated with cloud mining that investors need to understand prior to purchase.Here’s why you might want to consider cloud mining: Here’s why you might not want to consider cloud mining: In general, there are three forms of remote mining available at the moment: We have previously covered ways to calculate mining profitability.However, the web services offered are designed to work with your hardware parameters, not cloud-mining parameters.Even so, you can still use these calculators by thinking clearly about the costs involved.Profitability calculators (for example, The Genesis Block) often ask for your electricity costs, and sometimes the initial investment in hardware.

Effectively, you are being asked for your ongoing costs and your one-off investments.Therefore, since the provider, not you, is paying the electricity bills, you can enter the monthly mining bill in place of the electricity cost.The conversion process isn’t completely straightforward, though.In the case of hardware miners, you can work out the monthly running cost by multiplying your electricity charge (ie: $ per KWh) by the power consumption of the unit and by a conversion factor of 0.744 (the ratio of seconds per month to joules of energy per KWh).But, for cloud mining calculations, you need to do the opposite, because the provider gives you an (effective) monthly running cost.Hence, you need to calculate an equivalent cost per kilowatt hour to feed into the mining calculator.This is done by dividing (not multiplying) the monthly running cost by the 0.744 conversion factor mentioned above.When engaging in any type of cryptocurrency mining there are risks, but profitability is possible if you make the right choices.

In this article, we’ve given you some pointers on how to decide which way to go.In your test calculations, you will likely see that some cloud mining services will be profitable for a few months, but, as the difficulty level of bitcoin increases, you would probably start to make a loss in four to six months and beyond.gold faucet bitcoinA possible remedy to this situation is to reinvest what you have made into maintaining a competitive hashing rate, but this is highly speculative.bitcoin dubai conferenceAs mentioned above, the risk of fraud and mismanagement is all too common in the cloud mining space.ethereum bloombergInvestors should only invest in cloud mining if they are comfortable with these risks – as the saying goes, never invest more than you are willing to lose.ethereum mist client

Investigate social media channels, speak with former customers and ask pointed questions of operators prior to investing.Ultimately, you should practice the same kind of due diligence that you would for any investment.Disclaimer: This article should not be viewed as an endorsement of any of the services mentioned.jasa bitcoinPlease do your own research before considering investing any funds via these services.bitcoin telegram channelAustralian mine, server room, accounting and reward and risk images via ShutterstockSmall to medium-sized businesses and home computer users are urged to step up preventive measures against an aggressive global cyberattack that could hit Hong Kong as people return to work Monday after the weekend.The simplest precautionary measures include “patching” one’s operating systems with the latest security updates and enabling firewalls to block malicious internet traffic, cybersecurity experts said.

Their warnings came as the Hong Kong Computer Emergency Response Team (HKCERT), which handles cybersecurity incidents in the city, recorded two victims of the latest “WannaCry” ransomware attacks over the weekend.Hong Kong regulator SFC seeks input on tighter cybersecurity measures “The two cases were individual users operating on Windows 7,” HKCERT general manager Wilson Wong said.“In both cases, they did not have firewalls, did not update their patches and were connected directly to the internet.” The malware has spread to more than 100,000 PCs around the world since Friday and hit public institutions and corporations including Britain’s National Health Service, Spanish telecoms giant Telefonica, and schools and universities on the mainland.The pattern of attacks appeared to be random in nature and targeting networks, potentially affecting all computers within an organisation and even spreading to backup files.Computer files are encrypted and a ransom in Bitcoin is demanded.

“If you suspect your computer has been infected, whether at home or at the office, unplug it immediately and make sure it is not connected to the internet or other computers,” Wong added.IT sector lawmaker Charles Mok said most public institutions in Hong Kong were diligent in updating their software.His bigger concern centred on small and medium-sized firms as well as home users, whom he said were usually more lax about cybersecurity.“Many SMEs are at high risk, especially if they’re using older operating systems and don’t have an IT department or someone managing their network,” he said.Hong Kong Information Technology Federation councillor Eric Fan Kin Man urged users to back up files on a separate external drive and patch operating systems with legal software.Microsoft’s latest security update is the MS17-010 patch, released in March.On Saturday, Microsoft issued a rare fix to protect out-of-support products such as Windows XP, Windows 8 and Windows Server 2003.Four simple steps to guard against malware Step 1: CHECK that ports “139” and “445” are disabled for public access in your Wi-fi router and internet firewall, as both could leave a hard disk exposed to hackers.