Bitcoin Forum

Hi
As title says... is cloud mining worth it? do you recommend any cloud mining website? (mining bitcoin)

Just trying to get my head around things.

Thanks!

after halving,i don't think cloud mining is worth it anymore although you should be very aware when trying to invest on cloud mining since there's so many fake cloud mining that actually running ponzi scheme so if i were you i won't invest on cloud mining but prefer to buy a mining rig instead

Yes but mining rigs are so expensive nowadays and to be fair, isnt worth the investment if not in the long run?

Hi, If I where you I wouldn't bother with cloud mining. This is one of the most broken things there is in the bitcoin world. You can be a part of massive ponzi, grand theft etc.
To much risk and why aggravate yourself for some uncertain profit?
Just like aubert said, you will do better if you save some cash for a real miner, dont buy used equipment, go with the most advanced unit on the market and you may (MAY) get your profit from it. Check and double check your electricity prises and how the electric company reacts when massive energy consumption takes place.

The only cloud mining that I would recommend is Hashflare. I'd recommend Haobtc but they act more like a bank then a cloud mining website since they don't sell contracts. I wouldn't bother with any other cloudmining websites unless they prove that they mine, and are owned by a trusted member of the community. Here's a cloudmining risk assessment thread: https://bitcointalk.org/index.php?topic=878387.0.

Don't. Cloudminings are no longer profitable because of the expensive purchasing power. If you can find one that pays high or sells their khs cheap then its provably a scam so better just stay out of them.

NO! 99% of the clown mining site are scam or will turn to the dark side soon, the rest you need to ROI after at least 6-9 months which keeps increasing due to maintenance fees or with the volatility of bitcoin

this is the conclusion in 1 pic reassembled by me
https://i.imgur.com/6d6dELV.jpg

Its not worth it. honestly it is worst thing to do to invest your money in cloud mining site that you can not make  any profit  so better to stay away with cloud mining site almost all cloud mining site are scam its just the same as other investment site.

Even after so many cloud mining had been proved Ponzi and I could say that almost all of cloud mining is just Ponzi,and people still want to try their luck on this thing,i should recommend you to read about few cases about how cloud mining will only make you losing and I hope you could thinking twice
beside of it my answer is definitely not worth it wasting your money and too much risk while you only get so damn low profit

if bitcoin price reached atleast $800 per coin maybe you can try buying some hash power in hashnest.com, it will be kinda profitable but slow otherwise just forget about cloud mining as most of them are just a hyip

I think no its not so profitable right now. If I were you I will try trading than cloud mining, trading is much profitable than cloudmining right now if you know how to trade just a suggestions.

In my opinion, it's worth it if the site is trusted and is really mining bitcoin to pay their members (you'll be having a hard time looking for trusted sites though). I don't have any website to recommend to you since nowadays, those cloud mining sites out there (well, mostly) is running a Ponzi scheme just like Aubert have mentioned and will surely be scam in just a couple of weeks or months maybe. I think it would be better if you'll not risk your money on cloud mining sites and look for other ways to earn BTC rather.

No,stay away,keep your money and warn everyone to do the same,be smart please stop making these useless scammers rich without doing nothing.
I would rather burn all my bitcoins instead of "investing them" in a cloudming site(ponzi in disguice),it's a shame that there are still peoplen who are interested in them.

Cloud mining is not worth in this time caused by the halving time for a few month is passed, and about the recommended cloud mining site, maybe hashnest? but a lot of people will against about this because too many cloud mining become a scam and so will suggest you for the stay away from them. but i think that is better for think the another worth investment place.

better you save your money for buying bitcoin and waiting for a while. or if you are really curious about mining, i suggest you buy new personal computer and buying vga cards, and then you can trying to mining altcoins like eth, etc, xmr, dash, ltc, and then collect the coins and sell it if the rate is up on the market exchange.

I honestly getting tired of seeing this question, you already know that investment in the mining cloud not a good choice because of the advantages they offer not same with the risk you get.

Nowadays, cloudmining born fast, so many new cloudmining which offer you a profit just investing on their site. But the result is scam, they know people greedy, and easy to deceived.
Just stop and stay away from cloudmining site.

In my opinion it is not worth because of the difficulty of bitcoin, but if you want try making investment on cloud mining you can try hashnest because it is trustworthy cloud mining service.

It's not at all profitable but if you want to try I agree that you should try Hashnest cause it's backed by Bitmain and you have an option to sell your GHS after some time if you are not happy with what is happening there.

I think it isn't worthy, I notice several cloud mining sites every day and I can't believe that all these sites really mine bitcoin or altcoin, most of them are potential scams, but the matter is when they will stop paying, and this is the only difference between them, therefore investing in these sites like testing your luck.

Once upon a time it was good because we learned many things but at the end most of us got scammed or at least we didn't reached the ROI.

But now when the price of bitcoin is high and the difficulty increases to fast there is no hope to invest in cloud mining or the ROI will take so long.

I think cloud mining is not feasible because...Cloudminings are no longer profitable and the increasing number of fraud.

Ok the short answer is no. No it's not rally profitable at all, of you want a decent profit from cloud mining you would have to wait many months or even years in some cases and the big problem is that most of these cloud mining websites trun out to be scams. It's just a waste of time in my opinion. If you are into mining just buy a mining rig and mine at home(that's high maintenance though).

Even if a cloud mining site isn't a ponzi, they will never give back all of your investment and you will never reach ROI. I only got 70% of my investment back when I bought some hashes at genesis-mining and I'm never touching cloud mining ever again.

No way cloud mining means loosing your harldy earned money and any experienced bitcoin used will not recommend you to invest in cloud mining,so please stay away from it.Specially after halving we have seen hashocean scammed and then topmine and cldmine,all gone taking users money so i advice never to invest in any of the cloud mining sites.

Yes all cloud mining sites are ponzy schemes,they lure users as they think it is the easy way of earning the money just invest and get return in some months,and they may pay for some time in start but surely they will run away with your bitcoins very soon,i also lost my coins in cloud mining sites in the past but i learnt my lesson.

Cloud mining is definitely not worth it. Each and every coin that you've sent to any cloud mining site should be considered as a donation to them. Some people might have earned money out of cloud mining or HYIP sites, but that doesn't mean that cloud mining sites should have a good name. After numerous big cloud mining companies have used the "I got hacked" excuse, no HYIP site or whatnot can atone their negative name.

For fixed income purposes and let's say the company is really legit, no it's not worth your time.

Better find other ways to earn bitcoin. Put some work and effort to those worth to try method and forget that sit back and relax method as it may just result for you to become a lazy person.

mining rigs is indeed expensive but you can use it to mine coin whatever you want whether it's ethereum or monero it's up to you and it's really worth it for you especially if you got a cheap and quite stable electricity ,but to be honest,not worth if it's not for long run

Find me a decent, 100% real cloud mining service. Then you can can calculate your profit and be clear about your investment.

Or do you ask about fake pyramid and ponzi schemes disguised as cloud mining? If you are a prophet and pull out your money before they stop paying, then maybe.
Because they are scam, and will stop paying sooner or later. if you want to invest try to get interested in bankroll casino investments or something.

But thoae cloudmining one's are giving so much low roi and i think its not worth to wait since the profit are less and time would be worthless for this kind of investment and sometimes some of cloudmining sites these days are scam so people should really need to b aware for this fake scheme since many scammers joined and grab the oppurtunity and make a site named it as cloudmining, and also im kinda bit confused on cloudmining these days since those industry are on bit collapsing stage.

Cloudmining sites are just scams from the start even the difficulty of mining  is not  yet increased on the previous  halving. Some sites claimed that they are running a mining farm which is not trully there and some  may have farm but cant sustain for so long. How much more on these days that difficulty on mining has increased.?  Thats why i never turned  to invest on those sites after on the hashocean incident.

Calling cloud mining an "industry" is a little too much. Maybe in the past it was shaping into branch of bitcoin mining with few companies, but not anymore.
As some of them turned out to be lying as well.

The problem is how extremely easy is create cloud mining scam - you just need nice looking website and it's almost guaranteed that some fresh bitcoin enthusiast will fell for it.
Even if fake cloud mining will earn $100 from single scam is well worth it and it fuel chain creation of another fake services.

Just look at this:

Most, if not all, of these cloud mining sites are either scams or money losers

cloud mining site is a prime opportunity for a Ponzi scheme. Customers pay a bunch of money up front and don't expect a profit for several months, The rising difficulty means your hash power will earn less and less over time.

If you still want to consider cloud mining

Cloud mining contracts must be valued using the future difficulty, and not the current difficulty

Honestly, joining a cloud mining program and sending them money is like giving alms to a scammer who is in dire need of money. Nowadays it's better and worth it to learn difficult things like trading and coding for bitcoins other than doing it the easy way. If it's still 2012-2013 then probably it is still profitable but right now? It's not. You also wouldn't learn anything since people behind the service would just say a couple of things about what they're doing but you aren't experiencing mining yourself. So to wrap it up, no. Cloud mining is totally not worth it.

Some sites not just pronounce that they are running a mining farm but also give a stream link which you can check their mining rigs mining.

Which i think that they can simply pay someone to share the view with others and for users to believe that they are really investing in a real company.

Yes all cloudmining sites are scam nowdays and seen so many cloud mining sites being shut after taking investors money we all should learn the lesson now to avoid all of the cloudmining sites even which are paying still because they would surely shut down one day.

its wasting your time and you money, stay away from it, all the cloud mining will turn to scam eventually, so it's better put your money into legit investment, HYIP cloud mining and ponzi is not a good way to earn money, stay away from them and be smart

99% of could mining sites are SCAM or PONZI.  Is there any site legit? Yes, there is. The Genesis Mining is the biggest one. But doesn’t worth, because the ROI is ridiculous and you’ll lose money instead of earning with them. This is due to high competition for bitcoin mining and maintenance cost of mining farm.
 
No board on cloud mining, bro.

Yes i do saw those links previously. well they do actually run a  mining farm which is somehow  good and  gives as confidence to invest but still i wont consider to invest on those things again. I dont have trust anymore on any cloudmining no matter how many miners do they have.

In my own experience cloud mining have turned out to not be trustworthy or let me say majority of them because quite a number of them have turned out to be scam

Actually, that is just their trick for making the people is appearing the perception if they're a good cloud mining and wil be a good way for investing in them and that is just for lure the people for wasting ther money in them and until a long time later the cloud mining will always have a scam predicate.

in the present timw both the cloud mining and hardware mining is not profitable . here every cloud mining site is only a ponzi scheme . they take money from many users and ran away before paying all the btc or money . still there are some long time running cloud mining site like genesis mining . but you should learn some lession from hashocean which was cloud mining site and ran away .

I think it is not worth due to difficult mining, but if you want get pasive income you can try on hashnest although it needs long time for return of investment hashnest good service for cloud mining.

If i were you i wouldnt mind to waste my money and time on those sites. Its better to hold your money that to invest those  ponzi schemes . Cloudmining are just scams in the long run and  not profitable. Its better to run your own mining farm  then for sure it would give you decent  amount of profits unless if you have cheap electricity on your county.

Actually mining bitcoin still give you benefit but you need to sell partly to pay for the cost of electricity and the remainder is held for sale when prices rise.

What I am understanding from your statement is, cloud mining will not be profitable with the respect to investment amount and its returns for present days. But, after holding for some longer periods, the rewards from cloud mining may worth more to to get us profits.

How could you say so? Do you try to invest on those? I think not since you are not barking at them cloudmining these days bud are scam we cannot really get some profits with that and if you think you can earn with that in a long run well close that thinking its because it might gonna kill your budget, cloudmining is not trusted program upon investing so better be carefull on that thing, the reward you are saying is just an imagination, and you will ended to be scam victim if you do so

If cloud mining could be worthy it then most of us could be rich. I invested more than 5 bitcoins in cloud mining 3 different cloud mining sites but now I am regretting. keeping in mind that I had borrowed this money from lenders, it has been a big blow to my reputation because what I borrowed is still outstanding and I am not able to repay back. Look for something else more important than cloud mining.

5 bitcoins is really very big money, with which you have tried cloud mining industry. I guess if you had invested into a reputed cloud mining services, you might get chances to get few rewards as share till today. It means you will still have chances to recover your investment but after some long waiting. Hope you will recover your investment at least in equivalent fiat value in near future.

There's no way cloud mining it's worth it. To me, people who are depending on investment sites like this is the type of people who are too lazy to work their way to success. They want to make other people do the effort. Thus, they pay for an "investment" and lazily wait for 3 months to have profit. In most cases, the website just turns into scam even before the members get their ROI.

From an investors perspect the risk vs a potential reward is admissable. Therefore It is not worth to spent even a dime into any type of cloud mining operation.
In short, they are after your money (duh) but they can't (financially) reward you something substantial.

no its not worth at all, its like playing with time bomb, for sure one day cloud mining is going to scam you, and to make it worse the ROI is so long, so its not worth with the risk, just stay away from it, unless you want to donate your money to the site owner

For me its not worth it and cloud mining is not the answer for generating profit through bitcoin, most of them are like ponzi schemes. maybe some of them are legit but it will take a long time for you to earn, so dont trust easily because you'll never know how long it will last.

Also those who have turned out to be legit and have stand the test of time have a way to make you regret investing. So back to your question it does not worth it, I wont go into it and wont advise as well...

Its not worth investing into these websites the most are ponzi's, they are almost all scammers so I think that is already saying enough about it right ?
You should not do it because you will at the end not make any profit.

I dont support anyone to invest in cloud mining and its really not worth it,even you will loose your bitcoins here because most of the cloud mining sites are scam.Even that are running still but giving very less return specially after halving,getting back ROI will take a lot of time now and may be before that they may close,so i wont support that.

Agree, although there was a cloud mining that actually run their business but to get a profit requires a long time and most of the mining sites the cloud would end up with scam.

Well yeah cloud mining are not worth it and I know many cloud miners already learned a lesson  from hashocean and will not going to have another attempt for investing with it. Because they are just total scams and simple as that and I would say that even they are promising high returns it is better if you not going to trust them.

I totally agree with last comments. I invested some years ago and I had some benefits, but since last year I have lost almost all my investments in Cloud mining, some of the companies closed and other ones doesn't have any support at all.

It is not worth, the fees of mining is very high because of difficulty, i am we can be return of investment and it is very dangerous because mostly cloud mining service are scamer, although there is cloud mining service that can be trusted like hashnest.

Nopes. They dont worth. Try other forms of investment, where business model is clear.

at the start it was worth to mine with the computer...

My u2cloudmining site makes profit ...no need now to lose with mining.
My u2cloudmining system is the only real system who makes profit without mining...

So far many members have earned...and none has lost because it is impossible to lose...only earning is possible.

Whether or not a certain cloud mining site is really legit, it's simply not worth the time and money you invest in it.

Maintenance fees are too high in regards to the very low rewards you get per found block.

It's much better that you just keep your Bitcoins in your wallet as a long term investment. It saves you a lot time, money and headache.

Maybe that could be a good idea if you really don't want to compensate on cloudminings but its still risky to wait for more long months and hold your bitcoins in your pocket, but i think the best thing to do with that is to invest it so your btc will grow so if the time the btc price suddenly pump well yoy can earn huge profit with it since your doing a nice job handling and doing some great decision when it is on early stage on it.