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Hello,

I have seen many websites offering "Lifetime" contracts on cloud mining hashrate. Most ROI calculators that I have come across appear to indicate that these contracts will lose profitability in around 20-30 weeks, so less than a year. Am I looking at this wrong, or are these contracts actually just that much of a scam?

No, these contracts are right. With the amount of profits that people can see from buying into the altcoin mining frenzy the difficulity is going to increase at an exponential rate due to this. Plus, my view on Cloud Mining (be it bitcoin or Altcoins) is that all of the companies that offer this out are a bunch of scams, and the few that aren't are the ones that are just going  to stop mining on your 'lifetime' contract when it isn't profitable for them.


Avoid it all together dude, you're bound to lose all your money in the end.

Cloud mining is evil. Why sell contracts for mining, if you can mining coins on this hardware (gpu, asics). Cloud mining this is a fraudulent pyramid.

Thanks for the information, I figured it was like anything else that seems too good to be true. >:(

Yes, I am sad to say that I will likely lose a decent amount of BTC on a "Lifetime" cloud mining contract. I purchased a cloud mining contract back in August (I got caught up in a fervor and didn't do my due diligence.) While it is still paying out, my earning are decreasing by about .0002/week and, if that stays the case, I will no longer be earning anything 34 weeks from now. I think that I will be lucky if I get even 50% of my initial investment back.....I am currently just trying to figure out how to earn some BTC so that I can at least end up with the same BTC as I started with before getting scammed/wasting my BTC on this cloud hash rate

Avoid those lifetime contracts, but if you're gonna push with cloudmining, better go on a platform that has a secondary Ghs market, so you can liquidate ur assets anytime, or trade for profit.

That's very correct. Never trust them even the legit ones.
I lost a lot of money with cloud mining contracts before.
And yes, even with the so-called lifetime contracts, they will just stop sending your share.
Hard lesson for me. So please don't ever place big investments on this.
Just money that you can risk of or you're ready to lose, if you really want to invest on cloud mining.
There are a lot of discussions here also related to cloud mining, so you might want to dig deeper & learn more about this before plunging to an unknown venture.

You've got past that first hurtle. If it sounds to good to be true, it probably is. All cloud mining ponzis are a scam. They would make more by mining rather than going through the hassle of renting out contracts. Lifetime contracts are good for the lifetime of the business, which will always be short lived. All of these ponzis will fail and if you think you're in a legitimate cloud mining scheme you're going to be very surprised when they reach their end game goal and you get taken for everything.

You're completely right, actually.

The fact is that "lifetime" contracts are not "lifetime" at all. In fact, as network difficulty goes up and bitcoin rates fluctuates, it is very possible and even probable that your contract is going to be terminated in under a year or two.

Even if your contract keeps going, it won't get you good results after the initial few months. Is it a scam? I don't think that's the right word, but it's close to one.

Yeah, you are not looking at the right way. This type of contracts are not acceptable in the market of investment anymore.
Most of the cloud mining platforms are in market likely to put you in loss financially.
Nobody have been profitted by these contractors as promised.
Instead of bumping your money into mining contracts, you can get good profit trading altcoins.

What ROI calculators have you used? It may not be accurate.

Some cloud mining sites will close your current contract as soon as you stop making a profit to cover maintenance, others will wait until there are three consecutive days of not enough profit to cover maintenance. But in both cases, your contract will not last more than 4 years(since halving makes mining rewards go down significantly).

I'd say that on average, lifetime contracts will only outlive the 1 year contracts by a maximum of a few months. It is not a good investment to make.

maybe what they mean about lifetime contracts is as long as they can operate the company then you can still mining with them but if somehow they are shutdown their services in just 6 month then they are only scam you. i have seen this is the past and there are many cloud mining offering "lifetime" like you said but the fact is after they operate in just one year or less, they are run away with the money and people getting sad. for example, in genesis mining, i can reach the ROI in just 9 month with small hashrate and i am sure this will happen too with the big hashrate. in hashnest, the ROI is almost equal with genesis mining. but in the other places, maybe they can guarantee that the ROI can be reach in 4 month but i think its difficult to reach ROI in short of term.

What to hide from you mate but these kind of contracts are just shit and they don't pay you for much longer. Have you known to hashflare ? They had similar way of attracting people, they had all these lifetime contracts and shit but recently they turned the cloud mining site upside down by publishing that they will not have the lifetime contracts anymore and those who were on the cloud mining lifetime contract will be offered 12 months contracts. Ask me man how they scammed everyone holding big chunks of hashrates just lost the money over period of time. This was crazy, really sucked the balls out. Sorry for the language but that's how they drive the whole thing and make people disappointed in the end.

think the others are completely ripoffs/ponzi schemes. At least GM is actually legit and offers a decent deal.But if you're really interested, go with genesis miningand cloud mining is a waste of time if you are not planning on getting any referrals. Just think about it, why would cloud mining sites offer you contracts if you were going to profit on them consistently and by a large margin? They could make much more mining themselves.

Lifetime contracts usually have small print in that they're lifetime for as long as they remain profitable to mine.  There are usually small fees taken from the mining profit and when the fees surpass the profit then the contract is considered done.  This is how they end contracts and sell you on a new one.  I don't consider it a scam but it's not very transparent either.  Cloud mining sounds great on paper but every time I look into them I can't get the math to work out.

One thing that I have learned in past years is that cloud mining = scam. Don't even think about investing in it,  if it's too good to be true its just a ponzi or HYIP.
All these lifetime plans are to lure in the customers and then in about a month or 2 the website vanishes. If by chance you find a legit cloud mining company then it is not going to give you a great profit, it will be very small.

lifetime is marketing Gemic to take contract form user ..but it will closed after certain time ..if you see there is one time mention . contact will active till its profitable .. so you will not able to know which hardware you  have so after certain time it will be down ..

It's in their terms and conditions, and when you buy the contract you agree to all the terms and conditions so it's not a scam.

But it's just unprofitable. You're essentially speculating on bitcoin price and bitcoin difficulty in a really inefficient way - your contract's gunna expire in less than 2 years. If you want to speculate on bitcoin price, do it by buying bitcoins directly.

There are cases where people have made money, but it's certainly not the majority.

Cloud mining is just a waste of time. although there is a contract that has been agreed upon and it appears that we will benefit, but that number is very little and we can actually leverage to a much more profitable investment. even a lot of cloud mining that only lasted for several months only. they stopped and fled after receiving so many investors. this is a fact and now many cases have been encountered like this.

Exactly this.

Cloud mining operations are going to rip you off one way or another. Even the legit ones that actually do mine may rip you off with a bad deal. For instance, look at hashflare. They were one of the premier cloud mining services and they recently reduced all lifetime contracts down to 1 year, for no reason.

Even if this doesn't happen, your contract is eventually going to expire. it's not "lifetime" and this is actually misleading advertising.

dude don't waste your time and your money to that site, most of the cloud mining is turn into scam after a month. they always promise lot of money and big profit but it does not real. after you invest to their site they hit you and run..

yes your right mate they will provide a payment in their first costumers to gain more victim. They are good from the Start then after a weeks or month when you fall in their traps. It will turn to scam and you cant even withdraw your profit just pending withdrawal.  So isuggest to dont easily fall on that kind of stuff if you dont want to watse you money and time cause all of the clound mining is a totally scam . You will notice it after you put a large of money on it .

Dude dont try it otherwise youll suffer in the end it might be true that it islifetime but itis not so porfitable if youre doing this . Well your choice to make were here to make suggestions but preferably not youll eventually waste time and money even youre patience cannot handle this scam that contract might be right although some minings might be better if youre a year or two earlier it is not the right time to mine those days are over .

The problem isn't really those scam sites shutting down after just a month. The problem is that obvious schemes such as genesis mining continue to pay out their users due to the idiots investing their money in that service.

People, as dumb as they are, think that when a cloud mining service pays their users out, it by default is legitimate. This delusional way of thinking is the reason people continue to invest in these schemes.

Another major factor is that people even make the mistake to re-invest their earnings, and that's when the cloud mining service has got the better of you ~ re-investing your earnings means that you start from scratch again.

I think theres no such thing as lifetime contract. Cloud mining costs a lot. Especially for maintenance. I had a lot of friends who are convinced to do cloudmining because of some amazing offer which they can get if they avail that promo. In the end they got nothing and just waste their money. So beware of this. I think before availing their offer, just research about them a liitle bit and check their reviews.

Many people will say that those lifetime contracts are profitable in the end but I would like to say that it's not. I don't know why they are still promoting cloud mining (maybe they just promote it for their referral profits) but it is plain as day that they are just scams that will get money from newbies who don't know anything about it. Websites like these have high chance of disappearing without any trace after a couple of months (when they hit their target profit). Don't waste your time.

They say lifetime to encourage many people to join. It does not have much mean, They can change contracts on you like that with just a day or two's notice. Cloud mining is becoming a joke.

It is a lie, you are never going to recover your investment, you need at least 14 months of contract to make your ROI, and if the website gets closed, or if it is a scam, then you are going to be in a loss.
You need more than a year to recover your investment, and then it is pure profit, but who knows how much time could that website last? most of them are scam.

Spot on. It's basically people giving back their own money that they were getting paid back bit by bit, which makes me feel even more sorry for them. If they keep repeating this (i.e. let earnings pile up, then later use these earnings to buy more contracts) it will make them land into a never ending cycle. It's common sense if you think about it, but yet people fail to understand what's going on with the money they assume is being put to work in form of mining. :D

Don't trust those contracts cloud mining are popular for just giving some false hope to their investors just like what HYIP's are offering. I would recommend you that don't look at their contracts nor investing and giving them an interest because it's not worth for you. I don't invest in cloud mining since before because I have learned from those people that are aware you'll just waste a big sum of your money their if you'll be attracted to their contracts.

Mate it is so true avoid some of that related business if possible for starters get some ranks for more money or income will come to you eventually so you cant or get invovled in that kind of business or even rely on such vulgar things that it is obviosly a ponzi scheme or scams . You must now how to identify wether a scam or not well good luck and be cautious

Buddy, Please don't invest in any cloud mining service. If you have money in your pocket, get some coins from exchange and keep it in your wallet. That will give you more profit than any of this cloud mining services. I have seen many promoting cloud mining services. They are doing this to get some referrals. That's it. In fact its impossible to reach your roi in bitcoin, if you are investing in cloud mining service with bitcoin. You may be able to achieve roi in fiat, if you are investing with your fiat currency.