Bitcoin Forum

Before Cloud mining sites last long but now they are quickly turn into scam. This began After Halving how sad.
Is there no legimate investment site this days ?  :-\  :-\

Saying they turn into a scam is wrong because they start as a scam since day #1 , most of them don't even have mining equipment even If they tell you otherwise. If you really want to invest then stick to trading or even better ... HODL your coins for long term.

Cloudmining  websites are proven to be scam decades ago. No, there isn't a single cloudmining business which is profitable for its users. The only way you can profit from them is finding more users for their services and they pay you fees for that effort. As you know, that's called "ponzi scheme".

Your right. I guess investing to a program that will be there for a long run is the way to go , maybe i'll try blogging or anything as long as its legimate.

This began way before halving, many cloud mining sites bailed on users throughout the years...

That's not really things happening to Bitcoin. What's happening right now is SegWit, for example.

There is no any single cloud mining that have ever lived for few years and we have seen several long running cloud mining sites run away scamming millions overnight. Better not to even put a dollar over any cloud mining sites, few cloud mining sites showing real mining device may also can't give you profit over your investment as if mining is profitable why would they will mine for your profit?

Investing in any cloud mining is very risky, either they will run away or you can't get your investment back even after several years of waiting.

As far as I know cloud mining has always been a scam, the only difference was when they stop paying you: after they give you 60% of your investment or sooner. So the halving has nothing to do with it.

This was answer before that there is no LEGIT investment site or ponzi site. Don't waste your time on promises of high income. There is no easy way to earn bitcoin. You must work hard.

First of all, it is not what's happening to bitcoin but more likely what's wrong with those cloud mining site? It is very simple those kind of platform which is for me really a good one but being used by the wrong people.

well if your investment is cloud mining then for sure it will be scammed, if you put your investment in Ponzi, HYIP or cloud mining of course you are going to lose your money, there are a lot of legit investment, the secure one is invest it in gambling site, you just need to find reputable casino that accept investment

Investing in a scam and asking why did it scam won't really change the fact that it is a scam. There are dozens of proof that these sites are a scam, why would you even bother investing in it?

You are correct,most of those cloud mining site did not last long. I even joined a couple of sites as of now, only hashocean is left. Also I agree with thread starter that after halving,many sites deactivated.

it has nothing to do with bitcoin block halving.
and also please avoid calling these sites with the name of "mining" because they are not a mining service but a ponzi scheme.

this means they don't turn into scam, they are scam from the start. and also the reason why they don't last long these days is the fact that people are more aware of their scam and don't fall for it. so they can't find any investor so they end their scam operation.

Cloudminings are still scam eventhough there's no halving came yet, and we just been aware and learned some lesson since we Notice the incident happen on HashOcean, truly it gives huge attention to people since they run out some huge from their investor and that made people be more aware for cloudmining schemes, thats why leave that site and don't invest if you are planning to invest on that thing.

This is actually an opportunity for cloudmining scam to scammed beginners people who try bitcoin in first place. Unfortunately they are to greedy without hard work just want an instant money without doing anything.
And cloudmining scam offer big money just for little investment.
People need to educate and research first before dealing with services like cloudmining.

This is not something new. For a long time there are complaints that majority of cloudmining sites turn to be a scam.
They just saw the great opportunity to learn a lot of money from eager and naive users who wanted get the Bitcoins, thinking this is the right way. Before putnih your money to cloudmining check everything twice.

I think they have always been a scam. Thing is, as many people are now wary of them being a scam they close earlier because they cannot go on so much.

nothing is happening to bitcoin.
it is only a simple fact that because of the increase of mining difficulty and also the cost of mining and maintenance of the whole mining operation and also the price of bitcoin many of the cloud mining services which were legit in the past like GHash.io stopped mining. it was no longer profitable.

right now anything called cloud mining is a scam and a ponzi scheme and unless you see mining equipment with your own eyes doing mining don't invest,

Just began after halving? No since the day it was created most of your cloudmining sites that you think lasted long are not legit in the first place. They have just been able to operate for a long term due to continous investors that entering and investing a decent amount on the site.

Why sad? It's good so that people will work on their own without relying so much on passive income and good return promises. In this way, people will seek for themselves other way around to get bitcoin as much as they can do. It's feel much better if you earn more with your own work.

These "cloud mining" websites actually run only on a browser. They give you take GHz and fake, virtual mining rigs which turn into a scam as soon as they get their wanted sum of money. People obviously get into it because it sounds too good to be true.... And unfortunately, it is.

Unfortunately there are many people who are looking for easy money and like you say someone saw an opportunity to make some profit from it.While new members arrive and add money in system some users get pay,but when money stops to flow system is collapsing,classical ponzi and nothing else.

New people enter daily in cryptocurrency world,but they are poorly informed and usually they lose money on this kind of things.So forget the claud mining,it is a waste of money.

One question you should always ask yourself, why a company able to set up mining farms wants to give you profit when they can mine for themselves?

Yes after july halving bitcoin investment sites had became money looting black hole. Sites like hashocean and coince had became scam. Just before few days of halving hashocean ran away and I was too unlucky that I had loosed my money. And coince had paid me 100% including my profit but after halving they had changed they policy to minimum investment if $500 and stoped paying.

in actual it is not happening after halving , this type of cloudmining site scam is after ran of site hashocean .
and i think about 50-60% people were Making earning from hashocean .
well at the current time no one site is trusted so i will suggest you not to invest .
further if you want invest then you can try casino investment like moneypot .

I think you have hit the nail on the head with this one, pretty much sums it up.

I did use one last year on a discount as I was curious, 1 year contract, just finished and made such a small return it's not even worth getting excited about, Genesis Mining was the one which I used and even this one which has been around for a while has major issues with users getting a decent return.

You would be much better off if you put your money into trading some alts or just hold onto your coins.

everyone makes something by investing in these cloudmining (scam) sites so it is 100% but what you make is never even close to what you invest in.

for example you invest X BTC in one of these sites and they start paying you X/10000 BTC each week and with a quick calculation you can see that with all the fees they take out of it, it will take you a very long time to reach ROI now here is the twist: thy stop paying after a couple of months which means nobody has gotten their whole money back and the first investor loses the least and the last loses the most but everybody loses.

I have a minimum contract of mining dash with GM and all I get is some dust amounts and they wont pay weekly to me to avoid transaction fees, meaning as long as go big on investing with cloud mining companies that are not scams as to take your money and go away are hashnest and genesis you can profit if you invest +$5k imao.

Halving is just an excuse made by several cloud mining ponzi to run away scamming claiming mining not been profitable after halving. As well as it is also true that most of the cloud mining plan available right now can't be profitable if price per bitcoin doesn't grow significantly in coming years. Most of the cloud mining that are poping up every day are just scam ponzis claiming to give high return.

Nowadays, its really hard to distinguish or determine if the cloud mining sites now are legitimate site, It is because most of the scammer appear in that way, Even me I don't know if there is still legit, due to I've also became a victim several times.

In my own opinion, its not actually about Bitcoin but the promoters of the cloud minning services in the sense that the same set of people can continue to recreate several websites in other to scam innocent people of their resources and the blame is on them because they the ones who are morally bankrupt and not Bitcoin. Bitcoin in its own self has liberated quite a number of people and still doing same and we shouldnt blame it for the deficiency of others...

Read this topic before claiming genesis is profitable. https://bitcointalk.org/index.php?topic=1185909.0

Never cloud mining was genuine but for some period the pretend to be genuine. The halving reward did not change anything, this became one of the many reasons the cloud mining sites says to scam people. And this doesn't only belong to bitcoin, rather for all atcoin cloud mining same scenario applies.

it seems like everyone learns this the hard way!
i have also experimented with some of these cloudmining sites, nothing big but they all turned out to be the worst thing i could have ever done!

Cloud mining websites have always been fake web counters that show fake information about mining on the cloud. They started as a popular scam to deceive a lot of people and they had enough time initially to move around funds between people, but ever since people got to know that they were scam, lesser and lesser people invested and their fraudulent businesses were quicker in the spotlight. The trusted way to invest Bitcoin is through Liquidity swaps (Swapping certain proportions of Bitcoin for altcoin by taking advantage of arbitrage opportunities) and probably to find a trusted options or futures exchange and to trade in Bitcoins like on a Bitcoin stock market.

Almost all of the cloud mining sites I know,turns out to be a scam.No actual mining rig, its like only a program running on their servers.I too a victim of several of this cloud mining sites.This cloud mining sites do not last longer and deactivated running with thousands of bitcoin.

they are was already scam before the halving began because most of cloud mining sites are fake so currently very rarely to see the real cloud mining sites who offering small profit for their investor and also many people has learn from their bad experience investing at cloud mining because most of them already stay away from those kind of sites i think that's why cloud mining sites have lack of interest now and regarding your questions i have to answers that some people talking about how to be an investor at casinos sites and you might interested to trying it

You should choose a cloud mining sites which are operating long time with no bad records. Hashnest is good also genesis. I dont know if they still operating but they are legit. But for me, cloud mining is not that profitable. You should study how to trade. Trading is much profitable than investing in a cloud mining that is risky.

Genesis-mining is also left, and they kept paying till after the halving.
It's just that by mining BTC on there, you would never make any roi, since it's just not possible there because they take a big chuck of your earnings.

Lesson learned never invest in sketchy looking platforms that has no proof of their company .

I think 99% of cloud mining sites! are scam.
As you say,  they turn into a scam is wrong because they start as a scam since day #1
They start the Ponzi scheme since the first day. Like Hashoceans
I can't trust cloud mining sites. If you want to invest and claim some btc.
You can mining alone at your home, Or making some deals or gambling... etc...

Good Luck

Hashnest and BW.com are legitimate. You can buy hashing power and also sell if you get tired of holding. Genesis Mining is legitimate but has never been a good deal, also there is no option to sell your hashing power once bought. If you absolutely have to scratch that itch and buy hosted mining stick to Hashnest or BW. You are better off just buying bitcoin and holding though.

You all can find threads about cloudmining that informs how many are ponzi schemes and neither the legit ones is a good investment, mining bitcoin nowadays is a waste of time and money, maybe you can mine an altcoin but it all depends where do you live because the eletricity factor.

If you have already invested some money in any cloud mining sites you can say good bye to all those investment amount as they will scam you for sure in future.
Few may stay but you may not earn back atleast what you have invested even within next few years.

cloudmining websites have been scamming for as long as i can remember. its just that they reveal the scam a lot faster now. also dont try to invest bitcoin online, bitcoin itself is an investment.

Indeed it is basically an investment is the most easy and fun to raise money we have, but sometimes there are just sites that utilize the things that we are afraid to invest again. So, indeed bitcoin is an excellent place for investment, just as we invest in Gold. So if you don't want to get a loss or a scam then it is better to store the bitcoin and add more

Investing money in bitcoins is the best thing to do at a moment as price has started to rise and we may see more higher price in coming months so buying and holding them for future is the right decision to make and sell them when you see higher price to secure the profits.

I think anyone with a bit of sense now knows that cloud mining is a complete scam and you should stay away.  mining altcoins yourself can still be profitable with the right coin but as for bitcoin unless you have a million pound to sink into it dont bother......  :'(

It Is realy hard to find the real legimate site this day. becouse Being legimate mean that the investment site, the site must under police supervising and also mean that goverment control the investment site and bitcoin. so I think if we want to find a legimate investment site, the site must from the country that was accept bitcoin and not being illegal in that country, and The site must registered as legal industry in that Country. So if the investment site turned in to a scam, the police can do something to take the developer into the jail.

Cloud mining are already a fraud investment from a long time ago, but the users just realize after he is already running for some years ago, I just think about ROI in the cloud mining site that's just like bullshit, totally a lot of people are just got long for reaching their ROI and totally this just working for payback his capital.
And the doubt of the massive users of the cloudmining site appears at they are not able for paying their users.

Too risky give your amount into the other's hand in this day.

Yes,there is no legitimate bitcoin investment site these days.

There is no authority that controls all the cloud mining,investment scams and they can easily scam people.

Just trade cryptocurrencies and don`t give your btc to some scam project waiting for huge interest.

That's the truth, bitcoin itself is a perfect investment compared to most other investment availability. Also bitcoin as a form of digital currency gives earning similar to the earning got from investing with its price variation happening at certain time intervals. On this account its better to have the bitcoin into your wallet than losing through some scams.

Is that so? I am not into mining but I thought there were some official pools with guarantees and so on and that the problem is that you can't earn much there. As Bitcoin mining becomes harder with time, people want to find something which is still profitable. Thus they become trapped by those who offer them a lot and give nothing.

Lets be realistic all those mining sites are scam, doesnt matter if they have or not real equipment, they wont share their revenue with us if they can earn it alone, i do know the earnings into most of them just dropped and werent to half but much more, those are just like hyip, playing with the money from deposits, otherwise i do believe if you had invested 1000bitcoins into mining company they should use those or to invest or to trade.

They last long back then because they wanted to get as much money as they can. Staying longer makes them look legit and trusted. The longer they stay, the more people will invest in their website because people keeps promoting them and posting referral links in different forum sites.

My advice for you is to move on and accept the fact that all investment sites are just there to scam you. Work hard and you'll earn much more than you can in investment sites.

Yep right now im different methods to earn bitcoin im done investing and getting scammed

There are quite number of legitimate cloud mining sites. Most of the sites that turns scams are those from greedy folks who just want to make money as quickly as they can so they create fake cloud mining site and dupe innocent people of their hard earned money.

i doubt that very much. if there is a so called "legitimate cloud mining site", then they are just building up the userbase, so they can steal more once the scam starts.
ask yourself why would anyone offer you money instead of making money themselves? let us even assume i am a good guy and take the loss and mine not for me but for other, so they can make some money. why on earth would i want those other to be strangers on the internet and not my family or friends?

They  really easily turn into scam  after halving  because  the price  have rose  up and  also  to those  mining sites  do use  old miners  are not   profitable already but  most  of cloudmining  sites  doesnt have  any  legit  mining farms  and thats why  i really avoid this  kind of schemes  anymore because  they are  just a waste of time.

I do agree with that, there is scam sites who pretends and convince people that they are the most reliable investment site. But in the end if people trust their platform declaration of site is close and future of those innocent investors is like a smoke that vanished no one to be sued because it cant be traced. With regards to cloud mining, i think its not a good idea nowadays mining is not that progressive compared from previous years because there's no more invested in mining due to lot of scammers as i've said most of them scam promises.

After halving even mining for real with mining rigs have become not profitable and what cloud mining is doing is just paying old investors with new money so there is nothing like mining reward affecting returns from cloud mining. Cloud mining are just hyip, never consider investing in any cloud mining sites.

lol.. scam is scam, doest matter how much time it's needed to go offline.
they are quickl turning to scam because the price have high volatility right now so it's hard to pay everyone for a longer time.

stop investing in these scams and search for a real investment.

What has the fact that cloud mining scams exist got to do with bitcoin, your subject said whats happening to bitcoin ?  

these boards are getting worse  ::)

If you are interested in mining, I recommend you to do a deep research into mining and try to assemble a mining rig of your own. There are tons of materials relating to setting up and running rigs all over the internet.

I have tried genesis and hash flare and haven't made profits or got my initial investments after waiting for 6 months. I tried hashnest and was able to sell my hashing power and make some profit. Do your due diligence before investing into any new cloud mining sites!

Exactly, we should really never try to put our amounts  on any obvious scam platforms. This people are somehow good at marketing that is why they can able to manipulate users mind especially to those who really don't have an idea on the real business.

it has nothing to do with halving
it is that "cloudmining" is usually a pure HYIP disguised as a cloudmining service
with no facilities or no exit strategy,best cloudmining HYIPs lived for almost 2 years(Hashocean, btcmine) rest collapse far earlier
usual cycle is 2-6 months
there is a great topic on btalk on how to determine if the service is scam or not based on several criteria:
https://bitcointalk.org/index.php?topic=878387.1820
I recommend everyone read it,so  no more questions like "Is this cloudmining site legit" arise

it is already obvious that most cloud mining are scam , maybe all of these happened before or after the halving because they are just waiting for those who will put a large amount of bitcoin as they know that after halving many people will make another investment with them especially the Hashocean . and for your question , as all of people are saying there are no legitimate investment site this days as all of them has no possible legitimate proof of their operation .

Too good to be true. This is how I call them and this is what they exactly are. If cloud mining was this easy, everyone would have been rich right now. What you're looking at is a simple number on a website that has been programmed to rise faster or slower, depending on what package you have rented. In the end, you'll either be banned, kicked out of the website randomly or the site will go offline.

Every online investing site is a scam. I do not know why you still believe that they pay for you after you make a deposit. There aren't anything call "cloud mining". It is basically a fake site which provides a fake number and fake data, mining power in order to attract people. When they have enough money from investors, they will shut the site down and run away with the money.

First of all i wont called cloud mining as investment, because usually their data is incorrect and they are scam, and you are right, it is getting more and more difficult to find a legit investment site, now more people prefer to keep their coin rather than invest it

Cloud mining could be considered an investment, however, it is definitely a lot more variable and unstable vs other investments. As for the scams that we see becoming more and more prevalent, it's because of the high value of Bitcoin and the constant desire among people to grow their wealth.

Headline what happened with bitcoin, and topic about cloud mining sites are not going together. I never invested my money in cloud mining, I tried few sites where they had some free hash power for registration, I didn't earn nothing, after some time this sites were not available in one moment.
I think people finally see what cloud mining services really are, and cause of that they can't trick people anymore. Now we are much better informed and probably this forum contributed a lot to that, stay away fro cloud mining services.

Half year after a lot of ponzi schemes "closed" and we still can see news schemes opening their doors to steal money.

This will always be the cause of bad reputation of bitcoin, a lot of scamers here and there, until when?

yes I think we should be wary of sites cloudmining site organizer, because what we see together today about cloudmining circulating on the Internet sure the edges are definitely a scam. it is because they know that the Internet is an anonymous world. which allows them to perform the lure in the search for new victims.

They only scam people because people are greedy...

They saw a good site design offering an big passive earning and want easy money.

To be honest I don't feel nothing for this kind of scammed people. They got what they deserve.

crypto games and other gambling sites that let you invest is much better than
dealing with the unstoppable force of hash being worth less and less each day.

I paid my lesson to the cloud mining gods lol.

Better seek other online investment sites that are proven and trusted than investing in a cloudmining site. Cloudmining nowadays is an unstable business that give you little profits in an installment basis, this in addition to the proliferation of fake cloudmining sites that scams many investors.

Since 2015 when i was newbie  i heard many cloud mining sites but there is no cloud mining site are stay long in the internet they are gone after they got a lots of investors just like ponzi or HYIP sites they are giving roi for a week or daily that can attracted from newbies..
The only thing that i can say those service like cloud mining and ponzi site they are the same as scam i never heard that there is cloud mining site are staying long..
So better to stay away if you are smart you can think that there is no free money online you to work before you can receive rewards..

There is some investment site but its risky but not the same as ponzi you can try investment site like in betking i heard that some investors there are making good profit in betking its a gambling site that you invest in bankroll or house edge and earn profit every month..

i am not sure but truth is, 90% of the cloud mining site is scam, but i am not sure about genesis mining, can anyone clarify on this?

That site seems to have the largest user base who uses it

Well I wouldnt say they were a scam aince the start, I've invested something back in the day when cex.io had its cloud mining service and I've actually made a profit, also i've made a profit with hashrate (i think thats the name), altho that was a few years back.

Because it's hell of a lot easier to ceare a scam and steal bitcoins than fiat, and alao btc properties help you in that since it's kind of anonimous

I agree with you, most of the cloud mining sites out there are just hyips in disguise and after a few weeks maybe 2-3 weeks they will turn to scam and run the bitcoins that they stole from their investors. Most of my friends says that genesis mining is a legit cloud mining site but for me even though they are legit cloud mining site it is not worth it to invest on that site because the mining difficulty already increases and it can affect the profit that we will get on mining thru sites.

I believe you, and I was once a vixtim of it too. Cloud mining slowly gone out of the scene after the halving. There are amany people who did not recover from their invesntment and the site owner is nowhere to be found.

yeah cloud mining websites are becoming scams nowadays .actually they dont have the good equipments to do the mining .and they are taking a lot of transaction fees which is not at all fair ..hope u understand that investing in cloud mining is not all good and its just a waste of money..kudoos :)

Not after halving. It was way back before even bitcoin existed. They do it with USD and when bitcoin came they got a better opportunity to not be traced or somehow get a bigger amount to rob people.

Unfortunately, there aren't much around these days, because bitcoin has spread all over the internet and it probably reached to evil communities too, so they would not control themselves but do every way possible of earning bitcoins by scamming people and many other ways.

Sure there is legit projects to invest, like some casinos bankroll, or others games, since looks like you like to gamble your money, several time ago the cloud mining has already been exposed as huge hyip, and ponzi scheme, soo when you invest into such you know you wont roi, and you will loose, soo avoid them before or search about them.

yes , you all right . trading and event very better ..

Ponzis, all of them.  It blows my mind that they still exist in this age of transparency,  but they do.  If you want to mine, do it.  But cloud mining scemes are total scams and there are much better ways to make money.

now its not good for mining bitcoin again because many cloud mining itself become scam and we should not to invest with them. i think its better for us to save our bitcoin in our wallet, and only choose the best and recommended investment that has been proven by many people.

Now a days, you really cannot trust any investment site most especially cloud mining. Aside from the return of investment was too slow you are not sure if how many days will run before they turned out into a scam. I had learned my lesson since hash ocean turned to scam. I dont even get a single cents of my investment in hash ocean, same with the other cloud mining. Mow bitcoins are the source of scammer to earn.

There are so many other ways where you can invest your bitcoin and can get some good profit, for example you can invest your bitcoins in alt coins for this youe need some good knowledge about the alt in which you are going to invest your money, you can also invest your money in gambling.

After having seen so many so-called cloud mining sites which went scam we don't need to ask why and we don't need to invest in them? Just like some of the members already posted in this thread they were scam from day one from the day they came into existence. Beware of such so-called cloud mining scam thing.

That is because they are greedy and out of their wanting to get some good profit in bitcoins. They think that it will give them good profit upon trusting those scam cloud mining sites. So, I say that this teaches us lesson from being scammed by this scheme and we won't become a victim again for this investment in the future.

I already read before that its been really scam befre thats why I dont do mining also because there i only a small amount of btc that can ear in mining 

I also do agreed with you, I do believe that there is still legitimate cloud mining at the present time now, though the saddest part is majority of them are running away the money of the investors who get interest to invest to their sites.

Cloud mining sites are nothing but HYIP or ponzi schemes and no one should lose a single moment even thinking about investing in them, find real investment opportunities like bankroll casinos.

its a good idea to make investment ini bankroll casinos but before we do it, we should make research first and then we can select only the best casinos with good profit return otherwise our money can not be back if the investment is ended.

I've heard a lot of negative things about cloud mining. It seems more risky than putting bitcoins on an exchange.

Investing bitcoin is so profitable when the price of bitcoin is growing up, even though so many scammers from investment site.
But if you do it with correctly way you will get real profit. You must make sure the strategy that you will do. First, make sure the site is legit and really will pay you.
Overall bitcoin is good currency that can give the user profit.

And it is not just an hearsay because what you have heard are fact about cloud mining. Many got victimized that and I guess most of them are newbies.

Because those people who are becoming victims of it doesn't know the true nature of a cloud mining company and not doing some background researching.

Whether it is cloud mining or HYIP don't let your bitcoins wasted from depositing to them.

Try enerycoin it is going to be the next best thing. ;)
It will conserve your blocks and not waste confirmations like what happened 48 hours ago.

Yeah that will be a better idea instead of investing to those scam sites like hyip's and cloud mining or other ponzi schemes.

Just invest to bankroll casino's even though they are not promising big return still they are legit ones. Unlike these scams that promotes high return.

But they won't return you anything when they collapsed.

Unfortunately it is not just about the block problem, more than it bitcoin has been survive and it is not scam coin but enerycoin there are no people who know about it and it is can become scam coin, the people won't burn their money to unknowing coin.

Yes....They way I recall it, they started off as a scam and just continued on scamming.  In the beginning, they caught quite a few people off guard, but now days most experienced users know better than to even give cloud mining a second glance because they learned their lessons way back....cloud mining still catches the noobs, however, which carries on the tradition of learning the hard way.

There is no fast buck in bitcoin. Everybody when they first get in bitcoin trys. Its not early days anymore. People that are coming in now are late. Just buy and hold.