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Title: Cloud Mining Post by: mensha on November 24, 2017, 03:01:07 PM I want to know that whether cloud mining sites are trustworthy or not. Also is it profitable?
Title: Re: Cloud Mining Post by: cryptocoinfarmer on November 24, 2017, 04:11:40 PM Best way to find out use search on the forum.
There are plenty questions about cloud mining. By the way, most of the cloud mining are scams. Title: Re: Cloud Mining Post by: ahmedjamal1998 on November 24, 2017, 04:47:50 PM From my own perspective, I can certainly say that all cloud mining services are pure scam. Do not even bother to put a single dollar in them. Basically if you take a look at most of the cloud mining services that ever existed, you'll find lots and lots and lots of people screaming scam scam although they were warned before it not to invest. Just think about it. It's a business. And in order for it to make them money, they have to rent it out for more than how many coins it makes in order to pay for electricity, office rents etc. That's literally just plain logical thinking. Some of them don't even have the mining equipment ready. So what do they do ? They use your invested money to buy themselves the miners and then pay you even less. But how do they do that ? All of these services offer "long-term investments" which gives them the appropriate amount of money to buy equipment. They mainly work on selling prettified words and unfortunately you believe them. They'll tell you that you actually will make profits and even try to prove it to you with maybe some reviews/graphs or anything else. BUT DON'T BELIEVE THEM ! You might see good numbers for the first or two months but it then starts going down. You won't make any profits out of it. And if you're lucky enough, you'd get your capital back (which might not even happen). What guarantees that they even stay until next year ? NOTHING. I'd say, if you want to earn from mining, do it yourself. Buy the machines (but be careful as there's a lot of fake stores around so first do your research and do it properly) and set them up yourself. Title: Re: Cloud Mining Post by: Z1pp4 on November 24, 2017, 04:53:01 PM I want to know that whether cloud mining sites are trustworthy or not. Also is it profitable? Not worth it m8. I would rather build rig myself as you have more options to mine new altcoins. But ofc - you must have some knowledge.Title: Re: Cloud Mining Post by: xenomorphe1 on November 24, 2017, 05:19:12 PM Cloud mining is not worth. They can steal your mining and you wouldn't know it. It is faster and better to buy directly the coin than to mine it. And because the value of the coin may increase, the difficulty of mining is going to increase and you won't get the expected amount of coin compare to the moment you started to mine it. You may get some profits as the coin value may increase. But not much profits compare to buying directly the coin.
Title: Re: Cloud Mining Post by: Palmerson on November 24, 2017, 05:57:17 PM No one calls you a proven cloud mining. This means that there is no need to contact the service. Most in this market is a fraud. It is better to buy equipment to mine bitcoins for themselves. It will not bring such income as you promise the crooks but you are guaranteed to receive the income.
Title: Re: Cloud Mining Post by: bwin2012 on November 24, 2017, 06:28:52 PM It’s not profitable, not interesting
Title: Re: Cloud Mining Post by: Cacapzarg on November 24, 2017, 06:44:18 PM It’s not profitable, not interesting If your electricity price is lower than 10c/kWh, it is usually profitable. Title: Re: Cloud Mining Post by: leowonderful on November 24, 2017, 06:46:43 PM It’s not profitable, not interesting If your electricity price is lower than 10c/kWh, it is usually profitable. Title: Re: Cloud Mining Post by: bwin2012 on November 24, 2017, 07:18:21 PM It’s not profitable, not interesting If your electricity price is lower than 10c/kWh, it is usually profitable. |