beginners be very carefull

[zodiac3011]

well... cloudmining is about buying people to mine it for you! not to make it ROI fast Mining is there business and whether you make profit or not is none of their business

[number2]

When doing cloud mining, you need to read all of the facts, prior to signing up and paying for them.  There ae few to no mining where you can make anything interesting.  I currently mine BCN and mine about 2,000 per day.  That is not alot, about 12,000 satoshi or .00012 BTC a day, but I am going to have my computer on anyway, so might as well mine! When it comes to cloud mining, paying for it is almost never worth it, so you need to read all the facts and do the calculations before you make payment.  Think of it this way, if you owned a mining company where your equipment would mine at 10k THz an hour, would you charge some to profit from your equipment, or would you keep the profit yourself??

[notlist3d]

They give some "profit" illusion to drag you down into their fake mine.
That's why you should more carefull or you will regret forever

You can't group 100 percent into this category.  Sadly yes many scum have created ponzi schemes, this is why people need to research.

Look at hashnest do you think it is fake mining?  I honestly think it is mining and not fake, and I get 0 dollars for saying that.  So there are some good.... but sadly a lot bad.

[odolvlobo]

...That is not alot, about 12,000 satoshi or .00012 BTC a day, but I am going to have my computer on anyway, so might as well mine!...

That's a poor justification. Your computer uses a lot more energy when mining than when idle. Your are making $0.05 per day mining BCN, but you are probably spending at least $0.25 in additional electricity.

[b-trading]

So these new contracts that they made will not be able to ROI before the year ends !
Most of cloud mining sites are scam and when they are trust, they pay very low income. So one should make his calculations before paying his money

i agree with what you said, several month ago i have some any contract of about four cloudmining service and all of them become a scammer and stole my money anyway...and for nowadays i never be interesting again in cloudmining and for now i do trading in altcoin bitcoin and it is more better than have a cloudmining contracts

[bitcoingamblerNO1]

thank you for informing about cloud mining, this forum is really very good as i am getting full of information about bitcoin and alt coins and also the information about the sites and their performances.

[Ceizer54]

I feel sorry for you OP,but you can't expect more then that from cloudmining sites..almost all cloudmining sites are pure Ponzy and will eventually turn out Scams..they provide ROI after many days say 100 days which is both useless and bullshit,considering the site stays alive till then..HYIP are better then these cloudmining sites.Even though both Hyip and cloud mining sites eventually become scam,atleast hyip provides better interest and you can recover your principle in short amount of time,if in luck.
I would say be very careful and never invest in these ponzy type cloud mining sites..If you really need to invest then go for some reliable casino's house edge investments.

[jmintuck02]

Used to think cloud mining was a good idea. After all I read around here, not really anymore. I will just let the cloud mining that

exists on accounts run their course and I would collect what comes. Otherwise, I will look into buying miners and mine altcoins

and trade them.Any cloud mining will just run its course into a wallet or so and be traded off until; the cloud mining outfit

finally goes under. If so, I got what I could out of it.

[niktitan132]

Mining in general is a big scam. The cloud miners are the real puppet masters of mining and they are scamming us all.
Stay away from mining is my words of advice.

[achow101]

Mining in general is a big scam. The cloud miners are the real puppet masters of mining and they are scamming us all.
Stay away from mining is my words of advice.

How is mining a scam? Mining is the method by which transactions are included in blocks to prevent them from being double spent. Mining is an integral part of Bitcoin, without it, Bitcoin wouldn't work.

Cloud mining is different, and most of the time cloud mining doesn't actually mine, they are usually just ponzi or pyramid schemes.

[EXtremeAEX]

Not just that, starters (like me before) earning their first satoshis would feel that its so good, but after some time, greed kicks in. Beginners must be aware of greed, as it might take over them subconsciously. I've learnt my lessons with golden-cows, (if anyone still remembers ) at first it seems like I could get lifetime unlimited earnings, and my earnings increase over time, but soon, all of my investments just disappeared and I lost everything.

Too much to pay for a lesson, but still a lesson learnt. Know that money is not free, and whatever you are 'earning' must have reasonable work behind it. For example you gain from faucets as you are giving traffic to them, and they make money from ads, same logic to signature campaigns, so always find out the motive behind every investment-required-for-high-BTC-returns, and you might find out how cruel to have scams existing. :/

[QQ88]

I have bought a contract with Genesis Mining without any problems... They pay out daily without any problems too.

[odolvlobo]

I have bought a contract with Genesis Mining without any problems... They pay out daily without any problems too.

But do you expect to make a profit? Can you show the math that shows how much profit you will make?

[Amph]

Mining in general is a big scam. The cloud miners are the real puppet masters of mining and they are scamming us all.
Stay away from mining is my words of advice.

if you have 0.05-0.10 electricity you cna mine with your own miner, and no scam is involved, i would do it immediately if i had the possibility

then you simply sell your miner if the roi is too hard to achieve

[Decoded]

That's why I invested $20 on a lifetime contract with them. I'll get my ROI 1 year from now, I recieve 0.0002 each day. What's your daily profit?

Most cloud mining investments are bullcrap anyway, and mostly ponzis. I invested in genesis mining mainly for kicks. If you think that cloud mining is profitable, something is wrong with you. Go participate in a signature campaign or something, or trade altcoin. Not try to go for some passive income.

[gkv9]

That's why I invested $20 on a lifetime contract with them. I'll get my ROI 1 year from now, I recieve 0.0002 each day. What's your daily profit?

Most cloud mining investments are bullcrap anyway, and mostly ponzis. I invested in genesis mining mainly for kicks. If you think that cloud mining is profitable, something is wrong with you. Go participate in a signature campaign or something, or trade altcoin. Not try to go for some passive income.

Why are you saying that all are bullcrap???
Not all, but mostly...
And you can gain better with signature campaigns, but if you invest them in some good and reputed cloud mining companies, I have seen many that ROI you in 6 - 7 months, or instead go for an S7 which costs around 3 - 3.5 BTC and you will be able to ROI in 5 - 7 months based on electricity and hardware costs...

[Hellacopter]

The cloud mining sites nowadays are just scammers and Ponzi schemes, so just be aware from this schemes and sites, and be careful before investing any amount there. That's just another warning and scam alert.

[notlist3d]

The cloud mining sites nowadays are just scammers and Ponzi schemes, so just be aware from this schemes and sites, and be careful before investing any amount there. That's just another warning and scam alert.

You can't fit 100 percent of them into that catagory. Sadly yes a lot are scams... it's sad but true.

But what about hashnest?  I think they are ok personally, I could be wrong but I think most would agree with me on that.  So just make sure you know where your investing before you do it.

[niktitan132]

Mining in general is a big scam. The cloud miners are the real puppet masters of mining and they are scamming us all.
Stay away from mining is my words of advice.

How is mining a scam? Mining is the method by which transactions are included in blocks to prevent them from being double spent. Mining is an integral part of Bitcoin, without it, Bitcoin wouldn't work.

Cloud mining is different, and most of the time cloud mining doesn't actually mine, they are usually just ponzi or pyramid schemes.

It was not intended to be a scam, its just over time with the centralization of mining and no room for the little guy to make any money anymore. Its more of a ponzi really. With nothing in it anymore for us little guys.

[achow101]

Mining in general is a big scam. The cloud miners are the real puppet masters of mining and they are scamming us all.
Stay away from mining is my words of advice.

How is mining a scam? Mining is the method by which transactions are included in blocks to prevent them from being double spent. Mining is an integral part of Bitcoin, without it, Bitcoin wouldn't work.

Cloud mining is different, and most of the time cloud mining doesn't actually mine, they are usually just ponzi or pyramid schemes.

It was not intended to be a scam, its just over time with the centralization of mining and no room for the little guy to make any money anymore. Its more of a ponzi really. With nothing in it anymore for us little guys.

There is still room for the little guy to make money. You just need cheap electricity and you will be making some money.

Obviously you don't know how a ponzi scheme works since mining is not like that.