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Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

I don't use cloud mining and I don't know about bitdeer.com, but they all operate the same so I would suppose that this site is like the others of this type. And no they are not profitable, if you ask if you can make profit with them. The owners of such sites can be profitable, but the users certainly not. If you decide to try cloud mining, read the terms of their service very carefully.

Cloud mining is typically a thinly veiled ponzi scheme. If you are interested in renting hashrate to spec mine altcoins (large coins not profitable since you are paying a premium), it is best to do so through a hashrate marketplace, such as Nicehash.

With that being said, if you are interested n mining you are best off handling the operation yourself.

They are no longer profitable. And most of these cloud mining sites even if they are legit and partnered with bitmain, they will take advantage of their investors and will give you a very small profit.

They are the ones that will take the profit most and just distribute to their investors the money that they borrowed for the meanwhile, and while being the holder of your money they'll take the ownership of the hardware.

Talking about cloud mining, i think it depends on what project or site i think,. for example Aws, ive read that some users are happy with their services for now, but we could not say in the long run, we know already that this types of opportunity are not long term.

mostly cloud mining sites are scam, don't waste your time with these kind of earning sites, it is not profitable and it will not survive for long.

I'm not sure now that doing cloud mining can still provide benefits for miners because the prices continue to decline with some possibilities that the machines we rent to do cloud mining may be more expensive than the income that can be obtained in mining.

The only place with working mining powers  I know is nicehash, others just want to take all your money)

No, I would say definitely avoid it. Maybe the owners can make decent money, but I doubt very much that the individual users can. The time for making easy money by mining has I think long long gone.

How many times you want to hear that cloud mining sites scam or not worthy to invest if you want to do just go ahead and face the consequences but there is no use of trying it. Whatever the cloud mining sites are not going to make your it's they will it all your money and just gone. Go to the Google and search for cloud mining scam with bitcointalk keyword you will see lot of threads coming up.

it's been a long time ago that cloud mining is not a profitable type of investment. even most cloud mining only does a mathematical calculation without real mining hardware. there is even a lot of cloud mining that ends in a scam. so my advice is to avoid cloud mining and look for other jobs that are far more worth it.

I don't know why people are bent on mining and if you want to mine buy your mining gear and if not use the money to buy into the coins directly. I am saying this because 99% of online mining end up being a scam or default in payment and most people fail to get their capital back. I made this mistakes when I joined crypto looking to mine BTC but I was scammed of my BTC and I have read stories like this over and over again.

I don't remember it being profitable. ITs always been a scam so someone should at least check whether its true that his cloud mining site is partnering with Bitmain because if its true, Bitmain may have gone rouge lol. Genesis mining had been promoting that could mining for a very long time, I don't remember seeing someone testifying they got profit.

They are probably lying about their partnerships so they can attract more clients and seem more legitimate, cloud mining has never being profitable and from the beginning it has been a scam, just think about this if you had miners in your home and you could obtain profits with them will you waste your time trying to sell your hash rate? No, that only adds complexity to an operation that is already profitable, so we can conclude that cloud mining is only offered by those which cannot get profits with their mining equipment or scammers.

I had invested in genesis mining and purchased a btc mining contract which they have recently deactivated due to no profits so the answer to your question is very simple that cloud mining is also struggling at the moment and there are no profits in cloud mining unless the project or premises has free access to electricity.

In my opinion it's not since 2015, even before I joined the cryptocurrencies, I quoted 2015 because in some places on YouTube many videos from that time, for example HashOcean, I think old people know this scam project, eobot also beyond bitzfree ! Unfortunately I joined in 2017, so I could not participate in this season, I'm from the season ICO! Either way, Cloud Storage will be very profitable, just a little information. :D

About their partnership, I don't think it's official, bitmain is a HARDWARE Company, cloud mining is an imagination for them so it's not possible and never be. And for cloud mining to be profitable, what are the odds? Most of the experienced miners somehow tried cloud mining but all said it was a scam so believe them, they won't tell that for no reason.

Bitdeer you say?

Check this thread: https://bitcointalk.org/index.php?topic=5098855.0. User already exposed how shady this company is, so just beware and be cautious.

In my own perceptions, I still don't have concrete assurance that cloud minings will give us more profit. Most of the previous project that I've been through in terms of mining, it was really a failure. I don't know how others strategize the situation to acquire profit, and probably they're having buffers on their funds in order to survive.

There is a full forum devoted to mining on bitcointalk so may get better answers there. From past replies, cloud mining is generally not liked much.

Cloud mining was never and will never be profitable. Just think about it, why would someone offer hardware for rent if he or she would be able to make a lot of money out of it? Its better to invest the amount of money directly into eg. BTC instead of invest it into cloud mining.

I think it's safer now to join cloud mining because the prices are so low now. If they bought equipment now, they should be profitable in the next few years.
But older ones not so.
I would rather buy my own equipment and mine coins myself rather than paying a cloud service.

At this point it's hardly even profitable for those that own mining rigs so obviously cloud mining profits would be quite neglectable in a market like this. I agree that it hasn't been that profitable when the market was up, what more now.

There is nothing like cloud mining. Most websites lure users to invest in their site. You may think that you are getting mining hardware virtually but it is not true. It is a well planned Ponzi scheme. Once the new money stops entering, they will run away with your money. Moreover it is not possible if the market crashes.

The cost for electricity and also income from minning is not suitable and in my opinion it is better not to do the minning that just throws away our money. better focus on our work and also increase income

Cloud mining is never profitable for the users, cloud mining is one of the scam that being avoid by a lot of people, usually cloud mining got a sweet promise in the beginning,but it's like a time bomb, it just wait for the owner to run away, it's best to avoid cloud mining

In place of the one who asked this question I would stay away from all such services and sites that offer cloud mining services, most of them can be quite dangerous in terms of the prospects of losing your money, cloud mining has always been a risky business. And all the more it is relevant in the present time.

It seems to me that cloud mining is a hoax, of course, there may be some real projects that allow you to earn money on it, but I haven’t met such projects yet, but I meet a lot of negative feedback from people who have lost their money on this. Therefore, in general, I have a rather negative attitude to this.

I would be very careful investing in cloud mining nowadays. Regardless of alleged partnerships these sites are frequently ponzi schemes without any real business behind.

Cloud mining sites are just a joke for me,  nobody's wants to believe it cause in many cases that you can't get your money from them, it happen since before and how about now?  It is mostly the same,  it is totally a lie. Their good feedbacks are scripted and it make to attract people but we are all aware of that, it couldn't victimized people again.

Oh, thank you very much for very helpful comments. I thought that still it is more profitable than buying new hardware and paying the bill. But, if mining is not profitable for anyone, who is mining? Big companies are also not profitable.

If you want to do that cloud mining for your experience purpose then you can definitely try it but the fact will be cloud mining is not be profitable like before so doing some other business will be profitable.

Cloud mining is not profitable actually. It was profitable if you bought a contract in the beginning or before 2017.
Now, can only make little money. I don't know how much it costs now, but at the end of 2017, the price was exagerated.

Cloud mining isn't that profitable as the price of bitcoin was found much low compared to the previous years peak value. Experiencing a big growth in ethereum I too invested into mining, and now I was unable to pay for the power consumption with the mined ethereum. When this is the case with mining I don't find cloud mining to be profiting.

Cloud mining was never all that profitable.
If you paid for cloud mining before bull makrets, you made profit, but still less profit than you would have made if you just bought the coin you're mining in the first place.

I think that 99% cloud mining is a scam, I have left cloud mining since I was hit by a big scam in 2016, when more than 3 btc was lost even though I bought the bitcoin price at that time around $ 150, if I hold it up until now I certainly get big profit.

Even mining at home is not easy as coin difficulty and profitability keeps changing. Cloud mining is even less profitable and best avoided.

Current cloud mining does not seem to be detrimental, but you are still optimistic to do it if it makes you profitable, go ahead. For me, cloud mining requires a lot of money and is not necessarily able to return capital.

I've heard cloud mining, but most of them get losses and scams, so I don't want to try it even though there are so tempting offers. I only studied but was unable to join because Beum had the expertise and was still afraid to lose.

Exactly you see and hear, it never give us assurance for profit instead it makes people to be trap by scammers. Imagine, how could they generate money without even doing anything, if they'll pay for the miners where it came from? It could be better to stay away from these, it could be good spending our time into trading or joining bounties.

No, always avoid cloudmining because bad system hide behind it. We all know cloud mining or mining itself not profitable anymore since long time ago. System behind it is always Ponzi / HYIP scheme.

   There are many warning here on forum about cloud mining. Many people lost a lot of money with their wrong investments in cloud mining services.
Cloud mining services are profitable just for owners and first investors, everyone else lose.
   Instead of cloud mining services, people should think about invest in POS coins! It`s my plan for the future, at least one of the plans I have, to run
a masternode.

Yeah, that is right, the only one who is running for many years is the Genesis Mining. They are probably the real one. But it is a pitty, that this industry is full of scams.

They might be a legit company, just like EOBOT if you ever heard that before. And about the Ponzi scheme, we know nothing about it. For example Genesis Mining, on the surface they have real hardware to mine Bitcoin right now. But we should know the fact that for almost more than 6 months, mining is no longer profitable.
and if we do simple speculation about their costumer and their company expenses so far, do you think they did not 'do' something behind our back? and do not forget another fact that some people were losing their money without an explanation from that company for a couple years. Just google it if you do not believe it,
cloud mining is dead for almost 3 years, and most of them were/are using a Ponzi scheme to survive for all this year.

yes of course mining is still profitable if you own your own device as long as it can sustain your bills and your device didnt broke you can reach your roi really soon.

On the bitcointalk forum, quite a lot of users speak negatively about mining, because there is very little profit and it is not profitable to engage in this activity. In addition, the costs go to the voice work and maintenance of equipment.

As stated above repeatedly, do not mess with it. This is a one-sided game, and you will not be on the best side.
If you want to mining, look for a choice of promising, but little-known PoS coins. This can give a big profit in the future.

even though the kit is looking for post coins that are not widely known to that person does not guarantee that we will benefit by mining. the market conditions that I now think of crypto mining can be a loss in terms of operational costs in mining. we know that electricity consumption for mining is very large, we have to do a thorough calculation.

Yeah, but it is not about the small profits but because most of mining sites were scams.
If we talk about small profits, we should also start hate bounty campaigns because they give us very low profit recently.

Cloud mining is something different from the mining by yourself with your own rigs don't get confused by the word mining. Cloud mining is like an investment you need to pay someone and they will mining for you then they will give the profits based on how they made it but most of them will never pay you.

I'm ever see the calculation, when the difficulty getting harder, it's not profitable anymore.
But if you keep insist to invest on it, just becareful , extremely careful.

As far as my experience said, any crypto investment are risky so personally I'm avoid it !

It seems to me that right now you need to avoid any risks. In addition, on the bitcointalk very often now there is information that the mining has become very unprofitable. Many users of cryptocurrencies are moving away from this activity or freezing it for a while.

To keep it short: I haven't done a research about bitdeer and I don't know if it's a scam, but if you are sure it's no scam I doubt it is profitable in current market conditions. Their profits depends on their hardware, like if they use ASICs for BTC, they need a very cheap electricity to be profitable.

But in general, i don't like the structure of fixed cloudmining contracts. It's because you buy mining contracts and can't sell them later in the future. If you want to receive some profits from mining I can only recommend mining tokens, where you receive a part of the mining profits when you hold the mining tokens. And you can sell your mining tokens later, it's a huge advantage compared to normal mining contracts. There are not many offers of good mining tokens and you have to do a good research.

in my personal opinion at this time maybe if you invest in mining you might lose.
because I have a number of friends who use mining, and they don't do mining at this time, because of the larger spending bills for now.

Two days ago JPMorgan published information that Bitcoin mining is not profitable:

https://www.cbsnews.com/news/bitcoin-worth-less-than-it-costs-to-mine-jpmorgan/

If their calculations are correct, the cost of mining one Bitcoin is $4060 and the current price is around $3600

Electric bills, internet, and cheap coins even hard to mine it. That is all reason why some people not mining with GPUs anymore. It is too bad know they get that tools not in cheap price too because a lot of demands.

Indeed, many people stop mining because they feel the loss, and cannot have profits. This makes people stop for a moment and take a better attitude and feel safer. Cloud mining is not always profitable, but it must be more beneficial.

when the market price goes down, of course, miners will not benefit. the cost of using the tool will definitely be greater than the price of the assets they get. it might be better if their mining activities stop briefly waiting for the market to improve and that will make mining more profitable for the miners.

But this thread discussed about the cloudmining, if that's still unprofitable and how these miners are still mining the bitcoin? JP morgan seems missing a calculation about how much received as a validators in the bitcoin blockchain.

Yes, you are right, cloud mining or mining any coin is completely waste when you compare with your electricity bill. Many people lost their money through cloud mining website and which those websites scammed people a lot, so it is very good to stay from those cloud mining websites.

Many people avoid cloud mining and this causes the miners to lose their current situation. Cloud mining is not always profitable, but many stop with a bad system or get a scam.

i think they are not very reliable. If u get the income through the clouds to dig pits. then why don't they do it themselves? it is probably a scam.

If Bitcoin mining is not profitable at all, then it is logical that cloudmining can not be profitable even more.
I also do not believe in the correctness of their calculations, but if they publish such a thing, it means that they are interested in it and it is possible that something will happen soon.

I don't trust cloud mining since mostly are fake and not worth it .it's just a wasting of time honestly , much better to become bounty hunter which no need to risk a money just participation and will get paid. Because base on my experience in some cloud mining site it's totally not reliable 'cause you must to upgrade your account  first before you can process the first withdrawal .which is most common modus of some scam site .

I don't know a lot about cloud mining but heard that they don't give a lot of profit. After reading the guys above, I just made sure with it

Very small profit and many of them will take advantage of you so better just find another alternative. This is not recommendable.

There is no cloud mining currently profitable, I got an email from genesis mining and they stopped my contract on the grounds that mining is not profitable, it is better to invest in top ranked coins such as ethereum, EOS and so on.

No its not and if i were you?i will keep distance in this kind of news

How many issues of cloud mining happens already and nost of those indicates of how risky cloud mining in this community.

I don't know that cloud mining still exists in this year.
I never saw it again since last year. This thing is gone day by day because people can't easily trust this cloud mining. Also, it is not too safe

It had gone silent since the hype about cloud mining had proven to be not that profitable.  Cloud mining is somehow look as a ponzi scheme which  most of us agree though there are legit cloud mining company that operates before but they had stopped the operation because of the profitability issue.  In short, if one of the biggest cloud mining company stopped its operation, it simply means that cloud mining is not profitable anymore.

In 2016 I would mining. I invested a small amount in a cloud mining company. Still an active firm. Not a very recommended method. I still can't reach the minimum amount I can pull.

today we rarely see a person can have profit from cloud mining, when we use cloud mining, free account will never be able to withdraw or just a very small, and most of cloud mining today are just scams and will never let us have more profit unless we invest huge money in that cloud, so forget cloud mining today, we can only use hardware mining.

Cloud mining is a way to cheat investors, and it can be said that 99% cloud mining is a scam, this is what makes the market red because most cloud mining owners immediately move to USD when they receive a crypto deposit from user.

You should not to trust cloudmining anymore because it's a scam for sure. If you are really want to mine cryptocoins you can do even it's hard instead of investing in cloudmining. Mining is best if you are going to your own not mining of others.  Fot sure more people already out in investing in cloudmining.

Don't ever try mining in cloud mining, you will never get profit because maintenance costs are higher than your profit. and cloud mining is prone to scams. so if you have capital, it's better to trade or buy your own mining rig.

Well said , I also think that cloud mining is just a ponzi scheme ,
I never trust a cloud mining site again since I lost in hashocean ,
I think if you really want to mine crypto then do it yourself don't trust in some investment sites .
It is better to do it on your own to experience it and gain some knowledge plus the investment that you made would be for a life time.

I don't use anymore cloud mining, i used in past and i was only on loss because i invest over 0.1BTC and i get only 0.07BTC back even if the contract when i start say that are for life they stop it and say is no more profitable to mine because of difficulty and electricity cost. So if someone want to join cloud mining will be hard to get profit in my opinion.

The problem of Mining business is that scammers came and abused it. They offered their ponzi scam services and ruined the legit cloudmining. Even the legit cloudmining made mistakes and scammed customers (like hashflare mining).
Mining is just not profitable, best choice is to buy crypto and HODL.

since the cryptocurrency market began its decline, even then many miners abandoned their activities and switched to trading or simply began to make their investments for long-term storage. I think that this trend will be traced until the cryptocurrency market recovers.

The problem is the very high cost of buying mining equipment, so many choose to join cloud mining.
although the risk of fraud there is very high. but as long as we can choose a good site I don't think it's a problem.

I don't know these cloud mining sites because when I met the cryptocurrencies this subject was already seen as archaic and damaging to investors and beginners who with the promises of gains were easily deceived. Depending on the coin, today mining is something industrial and many companies are closing due to costs, so it is not such a simple activity and sometimes the best is the speculative mining. Cloud Mining is a lot of risk for little profit and suitability.

No one beleive in cloud mining anymore, they are scammers nowadays because no one knows when will they have money and even have to invest more money into an cloud without any potential to get profit back in the future, cloud mining is dead, we dont need it anymore when we have other ways to mine cryptos.

That's correct, in the past it's very popular then turns out to be a ponzi scheme.
People nowadays just choose to mine with their rigs than invest in a cloud mining scheme where no assurance of return.

Even though there are some that are paying, but in general, their reputation is bad, so it's not good to invest with them.

Most of the cloud mining sites were proven to be scam,all they were doing is pyramid like structure of paying but soon after their few initial payout then they are not going to get any rewards.

Cloud mining was not profitable even before. Even if you invest in a known cloud mining website, I doubt you will ever get your initial investments on the specified time. Invested also way way back but didn't get my basic funds fully. I don't believe their promises anymore. Wonder if people are still up to this business.

Personally I dont ever try a cloud mining because most of them are proven big scam  so I can say its not profitable from the start you invest money in their site but in a short period of time cloud mining will shutdown then in the end you lose your money.
I worried if theres a people still investing in cloud mining 🤔🤔

"Cloud mining" :) can still be profitable it just depends on what you're looking for.  I just invested a few days ago into FLEX Mining LTD and am super impressed. Its only 30 days old so maybe one third or one sixth through it's lifecycle.  It has a very impressive 10 day roi and returns 10% everyday forever(let's be real and just make sure you don't expect more then few months) and recoup your initial investment and then withdraw daily so you're just 100% profits which is 8 days of compounding  on your BTC. Ill post my daily payout screenshots to update everyone

****To be clear do not invest your whole bag or anything into this or (crypto in general), that you're not prepared to loose.

Here is my link to use when signing up for 3% reinvestment bonus.

https://flexmining.ltd/?ref=Prelaidcrooks

Is the whole Cloud Mining in reality not simply a ponzi scheme, in which people actually do not get any Hashrate rented, instead they only get the deposits of new customers?  ;)

when the price of bitcoin falls deeper and deeper between the cost of paying electricity and also the mt I think it is no longer profitable and a lot of cloudmining has finally canceled operating again because it has not benefited

Lol no  .  cloud mining didnt work that way   . not all  cloud mining  are scams but there are still legit left however it can take alot of time to produce a profit maybe because the difficulty in mining have risen up thru the years  . what you are refering to is networking where new joiners does not get any benefit aside from the old users , in short they work as a pyramid ponzi scheme  . 

I think it is not enough for me to get the investment back when I was invested in cloud mining because the profit percentage is very much lower it then my expectation so I don't think it's will not profitable right now for this situation

I am not very interested in cloud mining, I am more careful in investing so I never put it in cloud mining because it is most likely just a scam.

I do not like to participate in such a program because it is often a ponzi model and it is very difficult for us to make money with it in the long run, the rate of that model collapses very high

At the moment, in very few places in the world, mining Bitcoins (due to the price of electricity) is profitable. In fact, most cloud mining should be closed a long time ago, and if it still works, it is definitely a ponzi scheme.

I think still now it cannot be a profitable way to mine currencies and make it profitable will not been successful right now because the winning percentage will be very low for cloud mining so the profit was very very low it will equal to our national so very low profit will be remained.

it can be easily said that cloud mining is no longer a good way to earn money because it has so small profit and most of the cases we dont have any profit at all, that is scam, so we should stop using could mining, we can loss money if we invest in cloud mining.

Mining has recently started to lose popularity. Because the price of Bitcoin fell too much. I don't know how Cloud Mining will happen in the future, but Lightning Network can come to good places.

cloud mining is not scam if you use the proven companies that offer these services BUT you will lose money. in case BTC rises drastically in value you will make a profit but it will be much much much lower if you just buy it. Holding today is the best option waiting for expected bullrun.

I can assure you that cloud mining is no longer profitable to work on, because there are so many cloud mining sites that have proven scams.
So investing in cloud mining should be avoided, I even lost more than $ 1000 because of investing in cloud mining. Most cloud mining uses
a ponzi scheme method, offering substantial rewards. So my advice is never to try investing in cloud mining if you don't want to lose the capital
you have.

i can say there are legit cloud mining sites but yes, you will lose money from all of them. been there, done that. tried several cloud mining sites before, legit and known ones. but they failed in giving you the advertised ROI at a specified time.
 so nope, not gonna traversed the same path again. if you have the funds, slowly accumulate mining gadgets. at least if it is not profitable, you can stop but you have your hardware that you can go back anytime

You sure they are not scam? what if I say you that many of them are scam, as in almost all of them are. Yes, some are good as they are but many are.
I urge people not to invest with cloud mining and get rid of them.

Investing on defi rather on cloud mining is a way better,  defi coins can give you immediate and high profit, cloud mining are sometimes scam. But i dont recommend that you will invest on defi, better to research first.

What you said contradicts. But at least you have given an advise to do research first and that should be done by everyone who's aiming to invest with anything related to cryptocurrencies.
Defis or any projects, they have to do their research individually to avoid being scammed.

In my opinion, one does not interfere with the other. You can simultaneously invest in cryptocurrency, giving preference to promising and real DeFi projects, and at the same time engage in cloud mining, but only in both cases, the most important thing is to conduct accurate research. Most DeFi projects, like companies or resources that provide computing power for mining, are scammers and this must be taken into account constantly, giving preference to one or another project. But there is another option when you will have a choice not to invest in new projects and not pay companies for cloud mining, but to invest your own funds in your own mine.

Mining is the basic thing behind the successful running of the network. People weren't aware of the mining process, upon the same there were more and more number of scams in the name of mining. Cloud mining assure with big return for minimal investment which isn't possible with the hardware mining.

In recent days more other forms of mining process have been followed by different projects, but those weren't effective as the mining with GPU's. Mobile based, browser based and sharing based mining is the recent advancement over the cloud based mining.

Since 2019 there have been many cloud mining sites scams, making cloud mining is not an option to generate profit anymore.
Investors are no longer interested in investing in cloud mining, now there are many more promising investment options.
Therefore, in my opinion, cloud mining is no longer profitable. Now investors are more interested in DeFi projects,
which can provide a large enough profit.

There is a feature of users choosing their mining pool for free because they collaborate with BTC.com, AntPool, F2Pool, ViaBTC, and BTC.TOP. try to learn for yourself by trying it for free if there is still one. or if you are in doubt just go to a mining site which has been proven to be not a scam. actually mining for now can still make a profit, but most coins have experienced havling So that the income is reduced, the could mining site still survives, but the profit sharing will also be adjusted to the mining results produced.

Yeah, i agree to this one, I think cloud mining was a thing of the past, nowadays only very few people still engage in it, most people already understand majority of the cloud mining are fake and not trussed platform,  but if there are still good ones available then maybe you can generate some profit,  i think better to join any masternode or staking project which is good.

There are a legit one but it takes forever to actually get your investment back also known as ROI, they give back your money/investment sure, but depends on your investment it will take forever. I have never heard these days people who already got their money back from cloud mining

I cannot even name one cloud mining site that has a good reputation and pay its investors, cloud mining is a thing of the past there is no good mining site now, this is 2020, not 2016 it's better to buy a coin and hold or trade it but investing in mining site it's like investing in a Ponzi scheme.

Since i enter this forum i always heard about cloud mining not being profitable and some says it is a Ponzi.
though i have no knowledge about this really.
My brother use to Mine altcoins but stopped after a year because of too much energy consumption and he don't even get a break even from his mining activities.

---

i will stay away from mining not unless i become a millionaire and capable of having a Mining farm to make sure
 a income from this operation.

Cloud mining is really a thing of the past and you need to use your own funds more rationally, and not pay mining companies, as a result of which your expenses will be higher than income. Cloud mining is really a thing of the past and you need to use your own funds more rationally, and not pay mining companies, as a result of which your expenses will be higher than income.

Cloud mining website actually doesn't do any mining,they just send few initial payout from the investment capital but after the one or two payout, you will be facing issues that is the story of evert cloud mining website. Even mining is hard to make profitable in this 2020 so don't expect money in the easiest way.

I agree that many cloud mining services have turned out to be scams, and a very large part is completely unprofitable. However, there are some websites that have survived for many years and are still doing well. For example https://www.genesis-mining.com/ I haven't checked their profitability at the moment and I don't expect them to be very profitable, but if someone strongly believes that Bitcoin's price will be much higher in the future, I think that the risk of loss is here the lowest.

Has cloud mining ever been profitable for the buyer who buys their packages on their site? I think that the number of cloud mining companies who remained genuine for years is so small that nothing looks comparative in this industry. And it is good to keep your coins in your wallet than trusting a 3rd party to pay you at some fixed intervals.

When the reward for "mining" the block was greater and the difficulty was less, cloud mining was quite profitable. It was a great option for people who didn't know how to run mining rigs, or just didn't want to invest a lot of money in hardware. Unfortunately, at the moment with a much lower reward than a few years ago, this profitability is very low. The only chance to make a profit from it is that the Bitcoin price will continue to rise, which unfortunately we cannot be 100% sure about.

Do you still find some legit cloud mining apps or sites? Well, I never seen any of them as legit right now. Most of my cloud mining apps are just bubble. They are not good when it comes to making profits because most of them needs an initial investment. They just good at your first glance but it is not worth to install or try. Because cloud mining for me is a scam.

In 2020 opening a contract on genesis mining will end up in a loss for sure because the mining difficulty increased a lot, you will be charged 28% as hardware maintenance fee on genesis mining which is going to eat up your capital until it gets exhausted itself.

If that's the case the sufferers will be the small scale miners. As per my calculation mining difficulty have been increasing and to compensate the same high efficient hardwares were getting launched. This helps maintain the profit unlike the mining difficulty, but the maintenance fee and other miscellaneous fee will surely eat up the profit. Cloud mining doesn't seem to be profiting, those are days when normal computer itself mined bitcoin.

many cloud mining went bankrupt when the price of Bitcoin dropped a few years ago...
Current cloud mining is not profitable at all, the cloud mining companies that were once very trusted have not opened their services because the BITCOIN price is not that high at the moment.

It is an obvious fact that having a cheap electricity source will increase the chances of making a profit. Otherwise, the costs will surpass the profit and the investor is supposed to wait a few more years. The best option is to find another country where the electricity costs will be cheaper, for example, Iran and Georgia have a better profit/loss ratio for miners, AFAIK.

If we can find a location that has a cheap electricity cost, then that place is very suitable as a mining farm. Usually mining farm owners
have difficulty making profits if they have to pay high electricity costs. From research conducted by R&D Elite Mining Inc, it was found
that the countries with the cheapest electricity prices belonged to Burma and Egypt, and other research conducted by Global Petrol Prices
countries with the cheapest electricity prices are Iran and Burma. It seems that Burma is very feasible as a place to seek profit from mining.

I would assume that this site resembles the others of this sort. Also, no they are not productive, on the off chance that you inquire as to whether you can make benefit with them. In the event that you need to get a few benefits from mining I can just suggest mining tokens, where you get a piece of the mining benefits when you hold the mining tokens. t may be better if their mining exercises stop quickly trusting that the market will improve and that will make digging more productive for the excavators.

You shouldn't trust cloud mining applications or websites, many of which have been reported scams in the past few years. If you haven't yet participated in it, you should give up this thought because they usually disappear in a short time.

If you have Millions of dollars as capital and living in places where electricity wont kill you?then yeah it is profitable because if not then surely you will be at loss in a matter of year.
Some of my friends tried having a Miner but end up quitting and at losses .
also this reason that over the years cloud Mining has been tagged as scams and many victims cried tears in this forum and even outside about their experiences.

I completely agree with you that the stigma of a fraud has long been imposed on cloud mining and there is no reason to trust this or that resource. But nevertheless, apparently someone else is able to deceive users, since such sites are still advertised. And even if we assume that for those people who do not understand the choice of equipment and whose country has a high price for electricity, then Cloud mining can in fact be a good choice. But almost all resources are built on the principle of a financial pyramid, because the first users make a profit at the expense of new users who came and at a certain moment the Scam bursts.

Nowadays cloud mining is not profitable, as some of the newly rise cloud mining programs are scam. I think these days cloud mining is dead and no one will gonna believe on cloud mining again.

I actually don't have solid confirmation that cloud mining's will give us more benefit. A large portion of the past venture that I've experienced regarding mining, it was actually a disappointment. I currently consider crypto mining can be a misfortune regarding operational expenses in mining. we realize that power utilization for mining is enormous, we need to do an intensive estimation.

99% of all cloud mining is not real mining, but rather a scam. You have no equipment, simple script runs in the background. The profit is made with new users, that's ponzi, whoever comes last loses everything.

Yes, cloud mining are mostly scam even if there's any legit ones i bet no one gonna trust them. Cloud mining is just gimmick and in the inside it's just some another ponzi. If you want to waste money instead of wasting it on this kind of gimmick cloud mining might aswell buy some real mining rig. Though I guess you're not gonna get the ROI within a year maybe.

absolutely true, thats why i never invest in any cloud mining after i lost a lot of money few years ago in cloudmining site
its better to stake some POS coins in our wallet if we want get passive income in cryptocurrency

I don't believe that at this age and with the huge information out there some one still feels cloud mining is still a thing, Cloud mining always end up one way and that is down. For the sake of newbies please do not put your money into cloud mining most of them are scams and it is not a sustainable business

That is the problem with the new companies trying to build cloud mining business but can't because of the stigma. Normally if you live in a nation that has low electricity cost and if you could focus on just the expense of the machines, you could totally make a profit from mining without a doubt. Obviously mining is something volatile as well, these days mining profits you a lot more than what it did a year ago, but remember when ETH went as low as 80 dollars? Miners lost money like bunches during that period as well and there is no guarantee that won't come back ever neither.

There were so many companies that did cloud mining and claimed "they got hacked" and not paid anyone's money that, even though cloud mining could work as a good business, people just do not trust them anymore.

ive been genesis mining before and its could be profitable for you but its long term investment depend on which website you are investing, some website are using cloud mining name but they are hyip that promised you short term profit and end up scam, just be carefull when you get into cloud mining world.

Some of them wont even last for at least a month as long they already collected big amount of deposit or investment.. They promise good returns in short period of time but they will be the fisrt to get before anyone will recieve thier reward.

They only exist for short period of time knowing that in the long run no one will invest to their scheme, better to invest with good project

instead of trying your luck finding cloud mining investment, learn to study and research invest with proper knowledge instead of wasting

your time making things as quick as you want you'll only leading yourself to lose your money.