What's happening to bitcoin ?

[Lucius]

This is not something new. For a long time there are complaints that majority of cloudmining sites turn to be a scam.
They just saw the great opportunity to learn a lot of money from eager and naive users who wanted get the Bitcoins, thinking this is the right way. Before putnih your money to cloudmining check everything twice.

Unfortunately there are many people who are looking for easy money and like you say someone saw an opportunity to make some profit from it.While new members arrive and add money in system some users get pay,but when money stops to flow system is collapsing,classical ponzi and nothing else.

New people enter daily in cryptocurrency world,but they are poorly informed and usually they lose money on this kind of things.So forget the claud mining,it is a waste of money.

[freebutcaged]

One question you should always ask yourself, why a company able to set up mining farms wants to give you profit when they can mine for themselves?

[croutonhexagon]

Yes after july halving bitcoin investment sites had became money looting black hole. Sites like hashocean and coince had became scam. Just before few days of halving hashocean ran away and I was too unlucky that I had loosed my money. And coince had paid me 100% including my profit but after halving they had changed they policy to minimum investment if $500 and stoped paying.

[noictib]

Before Cloud mining sites last long but now they are quickly turn into scam. This began After Halving how sad.
Is there no legimate investment site this days ?   

in actual it is not happening after halving , this type of cloudmining site scam is after ran of site hashocean .
and i think about 50-60% people were Making earning from hashocean .
well at the current time no one site is trusted so i will suggest you not to invest .
further if you want invest then you can try casino investment like moneypot .

[tiggytomb]

One question you should always ask yourself, why a company able to set up mining farms wants to give you profit when they can mine for themselves?

I think you have hit the nail on the head with this one, pretty much sums it up.

I did use one last year on a discount as I was curious, 1 year contract, just finished and made such a small return it's not even worth getting excited about, Genesis Mining was the one which I used and even this one which has been around for a while has major issues with users getting a decent return.

You would be much better off if you put your money into trading some alts or just hold onto your coins.

[BitcoinHodler]

Before Cloud mining sites last long but now they are quickly turn into scam. This began After Halving how sad.
Is there no legimate investment site this days ?   

in actual it is not happening after halving , this type of cloudmining site scam is after ran of site hashocean .
and i think about 50-60% people were Making earning from hashocean .
well at the current time no one site is trusted so i will suggest you not to invest .
further if you want invest then you can try casino investment like moneypot .

everyone makes something by investing in these cloudmining (scam) sites so it is 100% but what you make is never even close to what you invest in.

for example you invest X BTC in one of these sites and they start paying you X/10000 BTC each week and with a quick calculation you can see that with all the fees they take out of it, it will take you a very long time to reach ROI now here is the twist: thy stop paying after a couple of months which means nobody has gotten their whole money back and the first investor loses the least and the last loses the most but everybody loses.

[digaran]

I have a minimum contract of mining dash with GM and all I get is some dust amounts and they wont pay weekly to me to avoid transaction fees, meaning as long as go big on investing with cloud mining companies that are not scams as to take your money and go away are hashnest and genesis you can profit if you invest +$5k imao.

[amacar2]

Halving is just an excuse made by several cloud mining ponzi to run away scamming claiming mining not been profitable after halving. As well as it is also true that most of the cloud mining plan available right now can't be profitable if price per bitcoin doesn't grow significantly in coming years. Most of the cloud mining that are poping up every day are just scam ponzis claiming to give high return.

[kidoseagle0312]

Before Cloud mining sites last long but now they are quickly turn into scam. This began After Halving how sad.
Is there no legimate investment site this days ?    

Nowadays, its really hard to distinguish or determine if the cloud mining sites now are legitimate site, It is because most of the scammer appear in that way, Even me I don't know if there is still legit, due to I've also became a victim several times.

[olubams]

In my own opinion, its not actually about Bitcoin but the promoters of the cloud minning services in the sense that the same set of people can continue to recreate several websites in other to scam innocent people of their resources and the blame is on them because they the ones who are morally bankrupt and not Bitcoin. Bitcoin in its own self has liberated quite a number of people and still doing same and we shouldnt blame it for the deficiency of others...

[buxlover]

I have a minimum contract of mining dash with GM and all I get is some dust amounts and they wont pay weekly to me to avoid transaction fees, meaning as long as go big on investing with cloud mining companies that are not scams as to take your money and go away are hashnest and genesis you can profit if you invest +$5k imao.

Read this topic before claiming genesis is profitable. https://bitcointalk.org/index.php?topic=1185909.0

Never cloud mining was genuine but for some period the pretend to be genuine. The halving reward did not change anything, this became one of the many reasons the cloud mining sites says to scam people. And this doesn't only belong to bitcoin, rather for all atcoin cloud mining same scenario applies.

[BrewMaster]

it seems like everyone learns this the hard way!
i have also experimented with some of these cloudmining sites, nothing big but they all turned out to be the worst thing i could have ever done!

[xdrpx]

Cloud mining websites have always been fake web counters that show fake information about mining on the cloud. They started as a popular scam to deceive a lot of people and they had enough time initially to move around funds between people, but ever since people got to know that they were scam, lesser and lesser people invested and their fraudulent businesses were quicker in the spotlight. The trusted way to invest Bitcoin is through Liquidity swaps (Swapping certain proportions of Bitcoin for altcoin by taking advantage of arbitrage opportunities) and probably to find a trusted options or futures exchange and to trade in Bitcoins like on a Bitcoin stock market.

[clickerz]

Nowadays, its really hard to distinguish or determine if the cloud mining sites now are legitimate site, It is because most of the scammer appear in that way, Even me I don't know if there is still legit, due to I've also became a victim several times.

Almost all of the cloud mining sites I know,turns out to be a scam.No actual mining rig, its like only a program running on their servers.I too a victim of several of this cloud mining sites.This cloud mining sites do not last longer and deactivated running with thousands of bitcoin.

[Nahl]

Before Cloud mining sites last long but now they are quickly turn into scam. This began After Halving how sad.
Is there no legimate investment site this days ?   

they are was already scam before the halving began because most of cloud mining sites are fake so currently very rarely to see the real cloud mining sites who offering small profit for their investor and also many people has learn from their bad experience investing at cloud mining because most of them already stay away from those kind of sites i think that's why cloud mining sites have lack of interest now and regarding your questions i have to answers that some people talking about how to be an investor at casinos sites and you might interested to trying it

[deadsilent]

You should choose a cloud mining sites which are operating long time with no bad records. Hashnest is good also genesis. I dont know if they still operating but they are legit. But for me, cloud mining is not that profitable. You should study how to trade. Trading is much profitable than investing in a cloud mining that is risky.

[eternalgloom]

Saying they turn into a scam is wrong because they start as a scam since day #1 , most of them don't even have mining equipment even If they tell you otherwise. If you really want to invest then stick to trading or even better ... HODL your coins for long term.

You are correct,most of those cloud mining site did not last long. I even joined a couple of sites as of now, only hashocean is left. Also I agree with thread starter that after halving,many sites deactivated.

Genesis-mining is also left, and they kept paying till after the halving.
It's just that by mining BTC on there, you would never make any roi, since it's just not possible there because they take a big chuck of your earnings.

[justallen]

Lesson learned never invest in sketchy looking platforms that has no proof of their company .

[seven2smoke]

Before Cloud mining sites last long but now they are quickly turn into scam. This began After Halving how sad.
Is there no legimate investment site this days ?   

Saying they turn into a scam is wrong because they start as a scam since day #1 , most of them don't even have mining equipment even If they tell you otherwise. If you really want to invest then stick to trading or even better ... HODL your coins for long term.

I think 99% of cloud mining sites! are scam.
As you say,  they turn into a scam is wrong because they start as a scam since day #1
They start the Ponzi scheme since the first day. Like Hashoceans
I can't trust cloud mining sites. If you want to invest and claim some btc.
You can mining alone at your home, Or making some deals or gambling... etc...

Good Luck

[BitcoinNewsMagazine]

Hashnest and BW.com are legitimate. You can buy hashing power and also sell if you get tired of holding. Genesis Mining is legitimate but has never been a good deal, also there is no option to sell your hashing power once bought. If you absolutely have to scratch that itch and buy hosted mining stick to Hashnest or BW. You are better off just buying bitcoin and holding though.