It's been said over and over again, but I think that it's worth too keep pointing it out. Cloud mining is not an investment by any means. The provider could by all means be directly lying to the user, selling a service that is entirely virtual. Recycling some money under the premise that users will never turn out profit. This is what happens all the time, it's 100% safe for the provider while the users takes on a huge risk. Just look into buying mining equipment. It will give you a lesser risk and a greater potential return on your money.
You are right. I really can't understand why they are still buying contracts when it has proven to be unprofitable time and time again.
Please guys stop making threads like: tell me about cloud mining, or what is cloud mining. I've read so many threads with people asking for help because their cloud mining tickets are being unanswered or they got scammed.
You have at least one on the same page where you've posted your thread. Are you blind or just ignorant?
https://bitcointalk.org/index.php?topic=2259139.0
But, Genesis Mining and Hashing24 cloud mining is legit...