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Author Topic: Was there ever a profitable cloud mining site?  (Read 1880 times)
Wind_FURY
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September 18, 2016, 10:21:01 AM
 #1

Common sense will tell you that most of the cloud mining operations will not give long term profit for its customers because Bitcoin mining is very competitive and the difficulty is always rising as there are more and more mining rigs added to mine the coins. We have also seen many cloud mining operations closing down and most of them did not even gain return on investment for customers.

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.


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September 18, 2016, 10:23:14 AM
 #2

By their very nature, they have to start off appearing to be profitable to draw suckers in. Like any Ponzi if you get in early and get out you may well end up making some profit. I can think of other things I'd rather be risking my money on.

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September 18, 2016, 10:39:18 AM
 #3

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.

Back to two years, i remember seeing people talking about cloudmining and how profitable it is, of course it doesn't mean making thousands of dollars  Wink
I didn't have bitcoin that time nor the experience to search about how legitimate/profitable they are but the two that comes in my mind are : cex io (closed) and the bitmain's PACMIC +/- genesis mining
For now it is hard for me to believe that there is a profitable cloud mining after the halving and the increasing difficulty...

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September 18, 2016, 10:39:33 AM
 #4

If there are profitable cloud mining site, usualy they runs ponzi scheme and it is profitable in the begining. They are many examples (ltcgear,cointellect, scrypt cc and the last gone Hash Ocean). All of them disappear with costumers money, in my opinion for today there are not profitable cloud mining service.
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September 18, 2016, 11:07:04 AM
 #5

If there are profitable cloud mining site, usualy they runs ponzi scheme and it is profitable in the begining. They are many examples (ltcgear,cointellect, scrypt cc and the last gone Hash Ocean). All of them disappear with costumers money, in my opinion for today there are not profitable cloud mining service.

I don't see either any reliable cloudmining services right now thats why i am avoiding those one so i will not become a scam victim since i already learned more lesson from the past, so thats why people should need to learn their lesson to since cloudmining business is not profitable as of now, mostly those running nowadays are scam and only exist just to satisfy their greed for money.

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September 18, 2016, 01:11:53 PM
 #6

There is a problem with defining if cloud mining service which was active in the past was fully legitimate or not.
Because I know some companies which paid their customers and fulfilled their mining contracts, but then went bankrupt or simply disappeared.
I have trouble deciding if that was because there were Ponzi or simply mining turned out to be not profitable in the long run.


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September 18, 2016, 01:33:28 PM
 #7

Unfortunately no real cloud mining at this time , I tried to invest in some sites which claimed that they are cloud mining sites , but they scammed me in the end , when I was newbie , I though they are legit sites .
Genesis mining might be good site , but I did not try it because they give small profits.



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September 18, 2016, 02:34:13 PM
 #8

In 2012-2014, cloud mining was very profitable (ROI only in few months) and many people was talking about it.
But, there's ponzi cloud mining called PBMining and many people fell for it (included me). Even there were some ponzi cloud mining, few people still managed to earn profit.

But now, cloud mining isn't profitable anymore whether it's legit or not,

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September 18, 2016, 03:46:40 PM
 #9

there are so many sites on cloud mining came and went , some were profitable ,but lot of cloud mining sites turned scam , in the beginning cloud mining sites give some profit  and after few days they turn scam , some sites are running from long years but profit is very less.

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September 18, 2016, 03:58:37 PM
 #10

no one can compete with the mining farms any more. if they could then why would they share their mining power with some random idiot on the internet for pennies?

if I was scammer on the other hand, that sure looks like a juicy piece of low hanging fruit to get money out of people.
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September 18, 2016, 05:29:37 PM
 #11

Scammers trying to gather goats for slaughtering.......That is all. If cloud mining was anything profitable then why wouldn't the admin mine for bitcoins himself........ Embarrassed
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September 19, 2016, 05:10:23 AM
 #12

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.

Back to two years, i remember seeing people talking about cloudmining and how profitable it is, of course it doesn't mean making thousands of dollars  Wink
I didn't have bitcoin that time nor the experience to search about how legitimate/profitable they are but the two that comes in my mind are : cex io (closed) and the bitmain's PACMIC +/- genesis mining
For now it is hard for me to believe that there is a profitable cloud mining after the halving and the increasing difficulty...

What do you mean by "it doesn't mean making thousand of dollars"? If I invest $20,000 in a cloudmining site like what you mentioned, Genesis mining, are you saying that I will not be able to make thousands to get my investment back and earn from my contracts?

To the people who have tried Genesis Mining. If I invest $20,000 in Bitcoin mining contracts, how much would I expect to receive and earn monthly?


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September 19, 2016, 05:55:25 AM
 #13

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.

Back to two years, i remember seeing people talking about cloudmining and how profitable it is, of course it doesn't mean making thousands of dollars  Wink
I didn't have bitcoin that time nor the experience to search about how legitimate/profitable they are but the two that comes in my mind are : cex io (closed) and the bitmain's PACMIC +/- genesis mining
For now it is hard for me to believe that there is a profitable cloud mining after the halving and the increasing difficulty...

What do you mean by "it doesn't mean making thousand of dollars"? If I invest $20,000 in a cloudmining site like what you mentioned, Genesis mining, are you saying that I will not be able to make thousands to get my investment back and earn from my contracts?

To the people who have tried Genesis Mining. If I invest $20,000 in Bitcoin mining contracts, how much would I expect to receive and earn monthly?

First of all don't ever do that mistake to invest 20.000 USD in genesis mining. The only people who will tell you that you will make money there are sockpuppet or shills looking to earn from their referral system.

This is how it works in Genesis Mining. Let's suppose you buy lifetime contract with your 20.000 gran . They start paying you out well in 2-3 or maybe even 5-6 months since your amount is a big one. Then all of a sudden they shut down your miner by telling you difficulty in bitcoin mining has increased so your miner are not anymore profitable that's why they have to turn it off.

This way you will never make back your investment with Genesis-Mining.

Know that there is not available for the moment any cloud mining that can make you profit, legit or not.
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September 19, 2016, 07:21:43 AM
 #14

in my experience I don't know any profitable mining site that wasn't or isn't a ponzi
Hashocean was a good ponzi , so maybe it was profitable for many but at the moment there is no good site even ponzis

hopefully because people stopped joining these sites , but yeah other than ponzis I don't know any profitable site that operates or operated before

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September 19, 2016, 12:14:58 PM
 #15

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.

Back to two years, i remember seeing people talking about cloudmining and how profitable it is, of course it doesn't mean making thousands of dollars  Wink
I didn't have bitcoin that time nor the experience to search about how legitimate/profitable they are but the two that comes in my mind are : cex io (closed) and the bitmain's PACMIC +/- genesis mining
For now it is hard for me to believe that there is a profitable cloud mining after the halving and the increasing difficulty...

What do you mean by "it doesn't mean making thousand of dollars"? If I invest $20,000 in a cloudmining site like what you mentioned, Genesis mining, are you saying that I will not be able to make thousands to get my investment back and earn from my contracts?

To the people who have tried Genesis Mining. If I invest $20,000 in Bitcoin mining contracts, how much would I expect to receive and earn monthly?

As of people saying in some existinh threads they are stating that the roi is to low and not worthy for the long wait so its ideal for you to weigh some things up before looking for cloudmining investments, and i think its better for you to have your own mining farm rather than investing at those unsurely profitable site, so you better be wise since scamsite are everywhere, 20,000$ is huge investment.

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September 19, 2016, 03:02:03 PM
 #16

I wouldn't know if there was a profitable cloud mining site because I don't cloud mine Wink and I probably never will, at least for now Wink. There may have been profitable cloud mining sites in the past but I'm not too sure on that. I normally put my bitcoins into Haobtc now since they are a very trusted "investment" site.
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September 19, 2016, 06:10:49 PM
 #17

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.

Back to two years, i remember seeing people talking about cloudmining and how profitable it is, of course it doesn't mean making thousands of dollars  Wink
I didn't have bitcoin that time nor the experience to search about how legitimate/profitable they are but the two that comes in my mind are : cex io (closed) and the bitmain's PACMIC +/- genesis mining
For now it is hard for me to believe that there is a profitable cloud mining after the halving and the increasing difficulty...

What do you mean by "it doesn't mean making thousand of dollars"? If I invest $20,000 in a cloudmining site like what you mentioned, Genesis mining, are you saying that I will not be able to make thousands to get my investment back and earn from my contracts?

To the people who have tried Genesis Mining. If I invest $20,000 in Bitcoin mining contracts, how much would I expect to receive and earn monthly?

It is all about the ROI, as i mentioned before it was easier but I never heard someone making a big earning from cloudmining sites
Theses days if you invest such amount, the site will turn offline immediately lol and scam everyone's money  Wink
With such amount and a low price electricity i would say solo mining is more profitable (make your calculation before ofc)

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September 19, 2016, 07:54:37 PM
 #18

Common sense will tell you that most of the cloud mining operations will not give long term profit for its customers because Bitcoin mining is very competitive and the difficulty is always rising as there are more and more mining rigs added to mine the coins. We have also seen many cloud mining operations closing down and most of them did not even gain return on investment for customers.

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.

You are lucky if you invest in a mining site and you got back your roi. Most of the time before people get their 100% ROI , Cloudmining site run or they just don't pay you and will give a lot of reasons with the delay. Some cloudmining will pay low investment and will wait for you to reinvest then they'll run. There's no safe nowadays.

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September 19, 2016, 08:18:42 PM
 #19

Only legit and worth investing site I know is Genesis-Mining. They truely have proper data-centers and are legit cloud mining team.
They have had coverage in media as well and are quite popular not like the scam ponzi who are run by people whom we never really in real life.
If I ever want to invest in cloud mining it would be genesis-mining.

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September 19, 2016, 08:23:33 PM
 #20

People would have recieved more than their ROI on the antminer S7 on hashnes's cloud mining scheme.
The hosted mining from miningsweden would give around $10 profit per month (potentially).
I think BW are still profitable cloud miners along with other laes able to do hosted mining.

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