Bitcoin Forum

Cloud Mining ? Tell me About it please

I am wondering what exactly is cloud mining?

IS this more less I can invest into a mining system? but don't have to actually have the hardware in my house? I just handle the controls from a remote location?

more less invest in as a shareholder? or really how does this work? information please

Can't you really use the search function? Cloud mining is fake mining where you buy a contract that has nothing to do with the coin being mined by the company that offers the contracts. you can buy an ETH contract and the company never mines ETH, they mine a different coin and then convert their profits into ETH and manipulate your income so that it takes months for you to get your money back.

You're actually one of the lucky ones if you end up with this kind of cloudmining companies... 99% of the cloudmining companies are even worse: they're just ponzi scammers disguised as a cloudmining company. They don't own any hardware, they just own a website to lure in new investors with the help of their affiliates (who get a piece of the stolen money for their effort of dragging in new victims). Once they have stolen enough, they just dissapear, run all their stolen funds trough a mixer and nobody hears from them ever again... Some of them pay out their victims long enough to gain the community's trust so bigger fish is dragged into their scamming webs.

There are a couple "legit" cloud mining companies that sell you all their risks for a small cut of their profits, and they try to manipulate their contracts in such a way they have legal grounds to terminate your contract the first time the price dips or the diff peaks.

In general they are just mining you, once you register your area they can mine you but in a way that you can see how much you are earning but off course they have full control of that coin that is being mined. So stay away from mining and read more around the forum as the previous posts said, their are already many threads about how cloud can be profitable or not.

Preposters already explained, what cloudminers are. They are nowadays not profitable. So it is better to keep the money. If you just want to learn basics about cloudminers and cryptocurrencies in an entertaining way, then visit eobot.com. Use their faucet and click through all items / cryptocurrencies and visit their chat. If you want to generate income with your funds, then keep your BTC or get familiar with projects. You can see them in altcoin section(service announcements and bounties.

Don't even trying that cloud mining, it even doesn't give you anything but just lose and lose all of your money. Even you invest bulk of your money, it doesn't guarantee to get back your investment (ROI).

Nope, you just doing nothing and you will get money based on your investment.

Cloud mining is just way to attract the investors to invest into their mining process. Where in theory when investors make investment then these people should put that money at work by buying more miners, maintenance and electricity cost covering and things like that.


So its kind of supporting money or kind of share holding where XYZ hash rate will be allowed to you and the earning will depend on that. Obviously the hash rates will be costlier than the hardware can mine with, so that they can get their profits first and then share it with you if anything is leftover.


Thats generalised idea behind it and its cloud mining because you just invest it through the online medium but they do the real mining on secrete location etc. So I'm sure that your concept is now clear what it is.

yes so it is generally...but not sure it is so...
I have never attract in my cloudming investors.
My investors have all be paid out with profit.
Now all is for free and you can never say I attract for free...
I even limit maximum attraction...

Cloud mining is a business which its owners ask investors money to buy mining hardwares and all the equipments, infrastructure they need to run the business. When the project is for real, they have a team that show their faces, show their place, the equipments, everything... But they are just making profit for themselves, because as investor you earn even less money each new day.

When it started it seemed very interesting, but now it's worthless and almost everyone knows it's an unprofitable investment. You can make much more profit just by holding your Bitcoins. Businessmen running cloud minings don't care about their investors at all.

(I'm talking about "legit" ones, the HYIP Ponzies are more common and offer exagerated returns, they are fake).

Why dont you try to ask the same question too google instead of posting this kind of crap in here?

Just put this on your searchbar; "What is cloudmining?" You are going to get tons of answers just by doing this, and it is not even difficult to do so.

Anyway, cloudmining is a very risky way to invest your money, you are just "simulating" to have hashpower, only that you are paying for that hashpower and the company is only giving it to you based on the rates that you paid.

It is not safe, a lot of this kind of websites are down right now, and they are now scam.

So better to be away from this kind of ponzies, they all are the same lie.

you come with your enigmatic comments, it's hard to see what you're trying to say



you do not have cloud mining (https://en.wikipedia.org/wiki/Cloud_mining)

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Cloud mining (https://en.wikipedia.org/wiki/Cloud_mining)

Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner.

He's smoking something ;) Or he's afraid of getting more red comments in his profile. Indirect defense is much safer.


It's an investment in a company that may or may not be mining, may or may not allow you to profit and may or may not give you your money back.

I can only say to you brother cloud mining is a fake website made by the evil ones who want to earn in wrong way. in other word they are pro. scammers. They often fall prey to those who want the easy money.
but there is also hardware for mining (correct me if i'm wrong) you need a laptop (high specs) or desktop, and stable internet connection and hardware miner like Ant miner your tools should be open 24/7 but it is strong in electricity and all of tools was expensive.

Unfortunately it is no longer realistic for the most part.  I did a recent calculation with one of the few trusted cloud mining companies and it would take 560 days to break even on my investment.

The new option overtaking cloud mining and traditional mining is automated crypto-currency trading groups.  I would post a link to the platform that I am using but as quick as I do I will be flagged for spamming and called a scammer.  Unfortunately most of the people here have either lost money trading, been scammed by someone and feel stupid, or have only made money in Bitcoin by buying it and holding it (nothing wrong with that). 

Myself, I am earning a full-time in a trading platform after being involved for a VERY short period of time.  The person that introduced me is also on this forum and is earning just under $3000 PER DAY after only 6 months.  Does it sound to good to be true?  YES.  Is it to good to be true?  NO.  If you are interested, PM me.  Unlike most of the people here I will put my money where my mouth is.  Try me!

Cloud mining is nothing but an easy way to scam newbies in the crypto world. Traditional mining is done with good machines and requires a mining farm. Cloud mining websites don't really have a farm and just take your investment and gives you little of your own money while keeping the rest amount for themselves. While most of the websites scam their users in the beginning itself, other websites wait until a bigger investment is made and then scams everybody together. The genuine websites are good but aren't profitable since the charges and fees elucidate the profits making it not worth the time. This is why nobody invests in cloud mining these days.

Basically what you think it is.

They "claim" that they are hosting miners for you, but often the company may not actually be legit, aka running a ponzi scheme of some sort without actually having anything real to back up their claims. Even if they are legit, you're probably not going to make any money off them.

I would defintiely stay away from these cloud mining companies.

You're not really the shareholder since you are only entering in a contract. You are not benefiting from the could mining company making more profits by attracting more customers or whatever, you are only making money off your contract.

They basically are renting out their hashing power to you, with a fee, and you have to pay for everything.

In the end, 9/10 times you're going to end up with a loss. So take their promises with a grain of salt.

In one word, it sucks! Dont even try it, you ll just lose your money.

It is funny that the amount of time it took you to create this topic and to write this lengthy post, you could have just used it to visit Google website and just type 'cloud mining scam' and then you will have so many topics that have been created in the past regarding cloud mining and why you should not bother yourself about them.

Buy your coin, put into your wallet and watch it grow. Mining is not for everyone, but if you have enough funds to set up a mining rig, then go ahead but consider electricity as well, otherwise, go and learn how to trade. However, leaving your funds in your wallet and watching it grow if you cannot really do much to earn bitcoin should be enough for you in the long run.

Please do not explain me what cloudmining is...
I had enough problems and red trust for it...
If I said I had cloudmining it is because I had cloud mining.


http://www.winspiral.net/u2cloudmining/image/CaptU2_151008a.PNG

My cloudmining system was based on mining income and advertising income.
To finance my U2 antminer I have asked for investment.
Investers have made profit from mining and ads income.
After a time I have sold the U2 antminer.
Investors have all been cashed back with profit.
Fortunately the system keeps up making profit from advertising income.
The system is exactly like before but income comes not from mining and advertising,but from advertising only.
So please admit that I know what system I have and what I had.

If tomorrow or in the future,I buy a miner...In 5 minutes...my programme is able to manage it in cloudmining.

I agree it is not easy to explain in few word what is not easy to explain in over 50 pages on my site.

Bolded parts are the answer related to your question on which cloud minings are companies which do seek out investors for the situation that they would able to expand their mining services and in parts of that you would able to profit or have partial allocation on the amounts that they would able to generate or simply means you do rent out a hashpower for now its not physically under your control this is why its called cloud mining.Just a friendly reminder don't bother to invest on this type of business because most of them are scams and the second thing is that you wouldn't really be profitable at all.

If you want to know more about cloud mining, you can also google it. There will be a lot of things to pop out by just searching the key word "cloud mining".

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Farms will let you rent their rig and you'll be taking a portion of it's profit.

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Yes but most of them are scams.

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Your just a plain investor that let them use your money to buy more rig and in return they'll pay you with the profit they'll get.

There are two types of cloud mining companies. The profitable ones and non profitable ones.

Long term profitable ones
- don't exist
- are a ponzi scheme
- Give unrealistic profits.

Then you have Amazon web services, where you can run their gpu instances to mine and burn your money.

In short you should only do cloud mining if you want to burn away your money.

As I know cloud mining is a kind of mining that you need to invest money in cloud mining website to buy the hasrate from the provider then wait until the amount of cryptocurrency you mine reach to the minimum payout then you can withdraw it to your wallet. For now it's really hard to find out a truthworthy cloud mining cause there are a lot of cloud mining but almost are scam like ponzi scheme. If you're thinking about invest in cloud mining I think you shouldn't do that cause for example when you invest about 1000$ to buy asics miner to mine Bitcoin yourself, you'll get about 1 BTC in a month (just for example), but with the same amount of money when you invest in cloud mining you only can get about 0.7 - 0.8 BTC or maybe less in a month cause you need to pay the fee :D. Beside for now the mining difficulty of Bitcoin is really high so invest in mining is not a good idea, if you want to earn I think you should try trading.

You itself mentioned both worst option in mining in the explanation and I do not why you titled one type of cloud mining is profitable and another is non profitable mining option.
Everyday we find atleast one of the thread about querying about cloud mining. I hope people are not reading about cloud mining and it is been digged all the time by the different person.

@liuqi what did you try to say there? I didn't understand a word you wrote. I guess the sarcasm in my post l went way over your head? Didn't it? Also how did you get accepted Into a signature campaign with that level of English?  ::)

Cloud mining is very risky, it is hard to find a trustworthy cloud mining site. Because now a days, their are no cloud mining site that are profitable for your investment. If i were you, i must try to invest in an ICO. It is more reliable than cloud mining.

Cloud Mining is the service of a mining company that provides a place where we can invest. In a way, we do mining, but those who take care of the hardware start cleaning the hardware to monitor the temperature of each hardware. But of course the results obtained from Cloud Mining is very different from Hardware Mining or mining directly. The results of our mining will be shared with the mining company. We will earn money from our mining and we can monitor our mining speed. Is Cloud Mining profitable? There was a time when Cloud Mining was profitable, but now I do not know then. If you want mining in Genesis Mining, you'd better wait until the lifetime package comes back up.

Thanks for all your help guys.

By reading on here and the feedback i got from Genesis Mining. Seems only way to make a return in Cloud Mining is a one time Lifetime membership.

I assume after the one fee. you would see the returns over time. Vs a one year where you will be always paying for a membership and gaining nothing back?

I am correct on this?

I have an excellent "souvenir" about cloudmining.
Many people here talk about and have never "cloudmined".
Many people here like taking about everything and do not know about.

People talk about generalities and present it like particularities or vice versa.
This helps not other people...Fortunately I have not asked here.
I have my own experience as cloudmining webmaster and as cloudmining user from other systems.

I have been scammed and I have not been scammed...
I have stop "cloudmining" because my experience is made...
Everything I could tell you would be from the past...and could not help you,because scammers can born every time.

Cloud mining is the worst scheme I've ever encountered at this time. Cloud mining will only hurt us all and this is the wrong way if you want a profit. Doing cloud mining is like wasting your time and money, I think you can still do much better. Look for something that can make you earn income, cloud mining is the choice for those who are desperate and their thinking is not running.

Have you already tried cloudmining or is what you said just taken out from the hat?

true enough, many people post something and claim to be experts.  how can you actually say something is a scam or not, without the experience

just invest into Hashflare~~

the hardware miners are harvesting faster than cloud mining,

but it may affect to enviroment and risky sometimes(overheated...)...it costs yearly or monthly to renew the hardware

the difference between cloud and hardware mining...is the cost from the monthly cost of power and pool fee

they all got diffculty problem,and the conclusion..the hardware mining got a little more profit than cloud mining..

but the reason why i invest into hashflare...just cuz i dont have a large rig and get rid of power problem~

It's known that most of the cloud mining are just scam. There are some that are operating and has been paying their investors accordingly but it's still better to be cautious about cloud mining. Scammers are just promising returns and profit to their investors without showing any proof of ownership that they do really own a mining farm and that's why if you are up to cloud mining, you are just trying to waste your bitcoin. Contracts of those "legit" ones called by their investors aren't good now so try to find some other investments like trading.

Did you search on the internet first before you ask here in forum?  Cause all of The user here will immediately answer that stupid question bro.  Which is bunch of spammers make a post here and says scam , (without idea), making their own ideas  ,and sometimes copying post from other commentators and put some twist. Lol dont be too lazy mate seek some information first around the internet before to make a question here.  Regards

please read first before you make a new thread it's because your question are already exist. cloud mining is made by lazy and bad people they make it to get some bitcoin from the investors. Most people know that cloud mining is SCAM so there is nothing to trust.

They are not even profitable anymore. Most of them are scams, so you will even be lucky not to end up with one.
However, even the ones that are not scams will not even give you ROI back these days and once your contract is over, it is over. Anyone that cannot mine all by themselves should not even bother as there are so many things they can do to get kick the ball rolling to earn more than mining.

Apparently, what should one expect ?
Things are already getting out of hands for most of these guys and at the end; almost all of them will end up as the same thing. Scam! While a lot of users fund will enter one chance !

People, most especially newbies, should stop looking into cloud mining because there is nothing really to get much from those platforms anymore.

Follow my cloud mining journey here: https://bitcointalk.org/index.php?topic=2521761.0

As most people here have already said, stay away from cloud mining..
Instead, if you want to earn a passive crypto income, do some research into Proof of Stake coins..

Cryptos like Lisk, Nav, PivX, Ark, Stratis etc can earn you a little side income via 'staking'.

This is a much better option than cloud mining and your investment is always in your full control, rather than being tied up in some website that could disappear at any minute  ;) :D

Cloud mining is such sites where you can double your btc but i think All cloud mining  sites are fake.all cloud mining sites are ponzi skims so i suggests you to never invest in it.I have also experience about it.I also invest in one of cloud mining site.And for somedays they give the interest of my investment but after some time they blocked my account and i lost my all investment.so stay away from such ponzi cloud mining sites.