Why do people loan for cloud mining ?

[outofmind]

I've been loaning personally on BTCJam, Loanbase & Bitbond. Most of the time I saw people are loaning to buy Hashnest mining power, and most of the time they're the borrowers that default.
Just want to know if cloud mining is profitable, why don't most lenders just do it themselves but invest to someone to do it for them?

This doesn't make sense to me, but most borrowers listing is about cloud mining, and actually through autoinvest, I did get positive ROI.
Just thinking if every time I have to lend someone to do cloud mining, why don't I do it myself.. It's less risk than lending isn't it?

[crazyivan]

Any time of lending besides margin lending makes no sense cause people CHEAT. It s hard to make money in crypto these days.

[outofmind]

Any time of lending besides margin lending makes no sense cause people CHEAT. Its hard to make money in crypto these days.

You're partially right, so far lending in the above-mentioned platform doesn't earn a handsome profit for me, but at least it still maintain at a positive outcome.
By the way, providing swaps in platform like Okc, bitfinex has become less profit as more and more people doing so, the declining rate is so fast,
I can't even invest for a whole year without paying attention to the profitability

[avatar_kiyoshi]

Why not too invest in safe wallet? Sell your coin at high price. It's better and more safe than do that both things.

[ps_jb]

I've been loaning personally on BTCJam, Loanbase & Bitbond. Most of the time I saw people are loaning to buy Hashnest mining power, and most of the time they're the borrowers that default.
Just want to know if cloud mining is profitable, why don't most lenders just do it themselves but invest to someone to do it for them?

This doesn't make sense to me, but most borrowers listing is about cloud mining, and actually through autoinvest, I did get positive ROI.
Just thinking if every time I have to lend someone to do cloud mining, why don't I do it myself.. It's less risk than lending isn't it?

It has nothing to do with Servise Discussion - stop spamming

[BitMaxz]

I think its for me if you the bitcoin and invest it for a cloudmining hashnest.. i think its risky and if the loan had a daily basis interest.. you can make profit with cloud mining and there's a possibility that you investment money from hashnest will gone.. or they run it..

[gk87]

Any time of lending besides margin lending makes no sense cause people CHEAT. It s hard to make money in crypto these days.

yes this is true sir people are very cheat in these things but crypto has bright future and this is a starting period of crypto
if we use this time for good purpose we become very wealthful in future

[Herbert2020]

you are describing two terrible things combined together. lending bitcoin and cloudmining! both of these are bad investments with total bad return.
lending is bad as long as you don't hold valid collateral, and cloud mining is famously bad because of all the scams and the bad ROI

[crazyivan]

I have managed to reach 90% ROI with one of the cloud mining services around, using a bit different plan. I do not want to post which one cause I do not feel like people following my footsteps and potentially losing money. However, there is definitely a way.

[BitcoinSupremo]

I have managed to reach 90% ROI with one of the cloud mining services around, using a bit different plan. I do not want to post which one cause I do not feel like people following my footsteps and potentially losing money. However, there is definitely a way.

We have discussed this other times, there are people who are making roi with cloud mining scams HYIPS, are only the early birds and the ones who have a lot of referrals. Still I fully agree with your statement, don't try to join any cloud mining HYIPS cause no matter for how long they will pay, they will collapse eventually and later investors will lose big time there.

[ranochigo]

Most lending platforms are actually filled with scammers and it isn't hard for one to get fake ID to verify their accounts and start borrowing. Cloudmining sites are mostly a scam and would close down sooner or later. Those borrowers using this as a reason either have no knowledge or need an excuse to make it seem legit to build reputation or get funding.

[Slow death]

this is a complex problem, many who make loans to invest in cloudminig are on prejudice, not to mention that both cloudming like most people who make loans are scams

In forums where people participate investing in cloudming are exibind when money earn a day and this makes those who earn little look for ways to invest more to earn more, eventually making loans, sell their personal property ... do everything to compete height.

[mindrust]

Cloudmining is scam,don't bother with it. Like the other guy said before me, the only people who made profit out of clodmining are, the ones joined the ship earlier and, they made their money not from mining but from their referrals.

[BitcoinLoan]

I've been loaning personally on BTCJam, Loanbase & Bitbond. Most of the time I saw people are loaning to buy Hashnest mining power, and most of the time they're the borrowers that default.
Just want to know if cloud mining is profitable, why don't most lenders just do it themselves but invest to someone to do it for them?

This doesn't make sense to me, but most borrowers listing is about cloud mining, and actually through autoinvest, I did get positive ROI.
Just thinking if every time I have to lend someone to do cloud mining, why don't I do it myself.. It's less risk than lending isn't it?

If lender have good collateral he almost have no risk in this transaction.

Cloud mining always will be a bit risky. Hashnest of course is most trustworthy service, but always can happen something unpredictable.

[Bitinity]

Because they think that they will get nice profit in cloud mining, they are so sure that they can pay the loan after they get ROI from the cloudmining. But they never think about the risk of being scammed, and if you wanna give loan for them so make sure that you ask for valid collateral.