Bitcoin Forum

Ok, so I'm new here obviously.  I keep reading about people saying how Cloud Mining is Garbage and trashing it.

I have a friend that is making 4.6 BTC per week Cloud Mining.  I'm not going to say the site because I don't want the haters to come out or for people to think I'm plugging it.  He has been doing this for a year and the site has been around for longer.  He has a formula and I've looked into the numbers and they seem legit.

I'm seriously thinking about doing it but just not sure after reading all the negative comments on here about cloud mining.  What should I be leary of or looking for? 

I would appreciate any helpful or constructive feedback!

Thank you!

most cloud mining are scam, however there are still some sites that is legit
 Can you tell us the name of that cloud mining?

The cloud mining now that actually gives you tons of money is a ponzi scam. The bitcoin price isnt enough anymore to cover the elictricity fees, so dont expect profit from any legit site that actually owns hardware

Something smells on a referral whoring here. Am I supposed to send you a PM now and you are going to disclose a big secret to me, by sending me scrypt.cc referral link from your friend?

Not gonna happen my friend.

In case you are legit, yes, cloud can be profitable if you chose the right company and keep heavily reinvesting. ROI is about 230-250 days.

Why dont just ask your friend about this. And if you invest and lose your coins then you will have a friend to blame

Go Hashnest or Bit-x or go home...

p.s. or go genesis-mining if you don't care about roi ;D

p.s.2. nearly everybody else will scam you in cloudmining.

edit: you can go kryptologika if that's silver what you're really looking for :D

It's not hard for cloud mining websites to confirm that they're not total ponzi schemes, you'd better be avoiding the ones that don't even try the least to confirm that they actually own hashing power. If your friend really makes 4.6 a week I bet that he's put a lot of money into cloud mining, which by itself is a very risky investment. Your friend could very well wake up to a total loss one day.

Not all cloudmining is a "garbage" , some are legit but that is not a proof that they will be there forever. Not garbage actually, we use the word "ponzi" here


There are no formula in a cloudmining business to proof that there are legit. The solid fact that they are not ponzi will be their mining address which alot of ponzis cloudmining doesnt provide



Please no, we dont need another ponzi cloud mining, unless you can proof that you are not ponzi by providing some data like the mining address


You should be looking for this one (https://bitcointalk.org/index.php?topic=878387.0), If you can provide the data as per asked by that than People can assume you are not ponzi


You are welcome !

For the same of the argument, what kind of money should one invest into a legit service like Hashnest of Bit-x to get this kind of money. 4.6 BTC per week is 0.65 per day. According to my calculation that friend should ve invested about 160 BTC into cloud to get that kind of result.

before this you must ask to your friend too how to earn 4.6 btc per week only from cloud mining are he have a lot referral or he has a very large capital for invest in a cloud mining but problems was cloud mining will be scam or not  i agree your friend have a large capital for invest

Cloud mining can be good yes.
Bit-x are a good example of a regulated exchange, meaning you can safely put money into your account without fear of being ripped off.

It's all just about getting a good price and making sure you cover your fees, both are doable, but they aren't a get rich quick scheme!

In my experience, most of cloud mining site either turn become scam or it's not profitable enough to make profit. So your cloud mining journey is long way to reach ROI, said more than half year. Not a good investment in my opinion :D
The amount of bitcoin that you received is lower every time difficulty increase, it's bad thing :(
And also there are some scam cloud mining, with indication : no proof of hardware mining, pool location and noproof of newly generated coin.
Avoid this one, for the best result i suggest you to avoid cloud mining since it's not profitable anymore
And stay away from ponzi games too

Is this your friend......and the cloud mining you are talking about......??

https://bitcointalk.org/index.php?topic=995654.msg10983924#msg10983924 (https://bitcointalk.org/index.php?topic=995654.msg10983924#msg10983924)

All the reasons that someone would rent you a miner are reasons that you should not want to rent one.

If you think you found the magic deal where someone is willing to charge you less than the miner will generate so they can get their coins up front, you should take a few steps to check how trustworthy they are. Make sure they are actually mining coins. Make sure the coins they are sending you are freshly generated and not just passed around from other customers. Make them show you an address that is being filled with coins that they are generating.

There are not many miners out there that will ROI, so it's very easy to do "cloud mining" without actually mining. Do the math and make sure it makes sense to even get involved instead of just buying coins. If the math works, check, double check, triple check that you are dealing with trustworthy people that are actually mining coins and the whole thing won't fall apart due to falling difficulty, changes in bitcoin price, or greed of the owner.

Cloud mining can be profitable if you treat it like a stock earning dividends. Buy low and sell high. Do not hold the miner for months. If the site doesnt allow you to resell dont bother.

For now i keep some really low investment on scryptcc trying to gain confidence
but 60 days ROI seems suspicious, at least at current prices gonna keep looking foward..

Thank you everyone for responding!!!!  I really do appreciate it.  Again I am not trying to get people to pm me or to sign up.  If you do pm me I still won't tell you the name of the site.  That is not and was not my intentions.  I'm just new and was wanting to know more about it, looking for information.

Again Thank you!