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Hi all!
I'm new to this forum, so sorry if haven't found required subject. I'm wondering your opinion about cloud mining platforms - does they all scam or there is an ability to mine some using their service.
Thanks for your advices!
I'm new to this forum, so sorry if haven't found required subject. I'm wondering your opinion about cloud mining platforms - does they all scam or there is an ability to mine some using their service.
Thanks for your advices!
I wouldnt say they scam, at least not the reputable ones. It is just that you buy a fixed hashrate contract, that gets obsolete quickly. So you maybe wont roi on your contract.
Sorry for dumb question, but how can hashrate contract become obsolete? I thought, you buy some "power for mine coins" and get back those coins as a result.
Or problem hiding in growing mining complexity?
They don't necessarily become "obsolete", but the power you rent gets irrelevant as days go by because of the increasing mining difficulty of bitcoin and other coins. Hence, your profit gets lower and lower until you get close to zero in payouts.
For more information about this:
Now I start to understand.
Will definitely read, thanks!
