Mining Cloud. May or Not?

[hammada]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

[-ck]

Definitely not.

[iamTom123]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

I think most of the members of this forum would agree to this very simple answer: NO and NO! Most of these cloud mining programs are just scams and if you intend to upgrade your account because the real earnings are not in the free status then you can just be wasting your hard-earned money and precious time.

Right now, there are already proven and prestigious mining programs that you can join. Do your own diligence before selecting which one is the best for you. Ask people of their opinion just like what you are doing here and look for possible complaints by members of the said program. All of these things can help you decide which should it be. Anyway, good luck to your desire.

As for me, I invested some of my money in a stable and paying cryptocurrency trading program which is giving me now regular income everyday and I can withdraw my earnings right away in just minutes no more waiting period to be patient of.

[carlfebz2]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

Supposed to be cloud mining but well you did just right on asking here before you would able to lose your hard earned money. Cloudmining isnt really worth to join in and 101% you will surely be got scammed knowing that there are lots of frauds here on bitcoin world.All things that do promise too good to be true returns are most likely are scams.Dont fall for these things.

[crazyivan]

If u re a newbie, definitely NOT. I suggest you try with PoS coins. There s a link under my avatar. Let me know if you need help with this.

[piloder]

A big NO...

No any cloud mining packages are profitable.
You might have to wait for years to get back your initial investment in terms of fiat.
No any cloud mining services can run for long period, so lifetime contract is not in reality.


Rather than investing in some scammy cloud mining packages just buy some bitcoin and hold them for few year you can easily double or tripple your investment.

[pinkflower]

Definitely not.

Listen to this guy, he knows what hes talking about.

Theres one importance piece of information that those cloudmining services dont tell you. That difficulty in BTC mining rises as more hashing power is mining in the network. This makes profitability in mining very hard. If your cloudmining service was really profitable, then why would they share their profits with you? By issuing cloudmining contracts to you, what they are doing is passing their risk to you, not profit.

[sunsilk]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?

It's a big no, newbies always come to think of that cloud mining is a real mining and it's a very profitable way to bitcoin.

As stated by everyone here, there's no benefit for you guys if you will try cloud mining.

You can eve become a victim of their shady behavior.

[DaMut]

No,Yes and absolutely No.
Cloud mining no longer profitable if you're mining Bitcoin or other Top cryptocurrency.
The difficulty is very high and other than that you also need to pay an electricity fee.
other than that another 'hidden fee' aka their profit will be counted everytime you're going to cash out

Cloud mining can be profitable if you're mining a new cryptocurrency,
this happen if the difficulty not really high and have a good combination between project idea,audience and improvement of the project.
if that project meet that criteria more likely it will be profitable but will take a time around 6 months or more to wait the project make another breakthrough and because of that's the key point to get profit for the miners.

in conclusion,for a newbies it's extremely risk and not really good for.
so all that i can say for you is Absolutely No.

for more reference go read here :
https://www.buybitcoinworldwide.com/mining/profitability/

and a legit company reviewed by costumer :
https://99bitcoins.com/genesis-cloud-mining-review-scam-legit-investment/

[SirSar]

Cloud mining - is a one way ticket. DO NOT invest in cloud mining.

[deadsilent]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

That depends to you. Are you willing to wait and risk? Im asking you because this is not an easy money because this may take a long time to take back you roll of investments. Usually cloudmining is for long term investments. But the risk is, how long will they operate their cloudmining? Many cloudmining just ran away this together with the investor's money. And even your you already get your roll of investments, i don't think it can give you a decent profit.

First thing you should do is to study first. Make a research how it works.
Good to see that you are asking our opinions about cloudmining. And for me, cloudmining is not profitable anymore. But still, it's up to you. Best of luck.

[subSTRATA]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

That depends to you. Are you willing to wait and risk? Im asking you because this is not an easy money because this may take a long time to take back you roll of investments. Usually cloudmining is for long term investments. But the risk is, how long will they operate their cloudmining? Many cloudmining just ran away this together with the investor's money. And even your you already get your roll of investments, i don't think it can give you a decent profit.

First thing you should do is to study first. Make a research how it works.
Good to see that you are asking our opinions about cloudmining. And for me, cloudmining is not profitable anymore. But still, it's up to you. Best of luck.

even if you plan with long term in mind, youve got to account that the difficulty will increase, and the first thing about a business; a business (cloud mining) will not sell you anything unless they are making money off of it. their objective is to make money, not provide a handout. its very unlikely that you will reach ROI in a reasonable amount of time that justifies your investment.

Many cloudmining just ran away this together with the investor's money.

thats not cloud mining, thats a ponzi scheme under the guise of a cloud mining operation.

[iqlimasyadiqa]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

You choose the wrong choice when it says that cloud mining is one good investment. With the experience of everyone I suggest that cloud mining will only make you lose a lot of bitcoin you have. Cloud mining is not a solution, cloud mining is very risky and also not trusted. Sometimes they become SCAM sites, this is what many people have felt so far. If you are smart then you will choose other investment.

[Immakillya]

Don't ever think about investing there mate. Let's say you have invested in a trusted or legitimate cloudmining. The question is the profitability of it. Can cloudmining can give good profit? Definitely the answer is not. It cant sustain or fulfill your needs. You wait for years and you receive your ROI. After that, you are only receive penny from them. Maybe if you invested a long time ago, you are a rich man by now. Why don't play your money yourself? You can do trading or try lending service.

[socks435]

Don't ever think about investing there mate. Let's say you have invested in a trusted or legitimate cloudmining. The question is the profitability of it. Can cloudmining can give good profit? Definitely the answer is not. It cant sustain or fulfill your needs. You wait for years and you receive your ROI. After that, you are only receive penny from them. Maybe if you invested a long time ago, you are a rich man by now. Why don't play your money yourself? You can do trading or try lending service.

Yeah you got the point there is no profitable cloud mining now a days .. never heard a cloud mining site can give you profit mostly they are turning into scam.. Since many people are looking for a cloud mining scammers are still doing their own way to make a new cloud mining site just to scam anyone to invest in their business and never get back their bitcoins from cloud mining..
If you really thinking deeply there are no business that can gives you free profit you should always work hard in order to earn a good amount ..

[Barcode_]

I don't recommend anyone to invest into cloud mining, most of this sites are scam, why would anyone want to pass your money to someone when your funds are being control by them. Basically if the admin of the site decided to shut down the site and run away, investors are basically helpless with absolutely no hopes of getting their money back.

[Slow death]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?

No, i have a hunch that you will not hear me unless of course i tell you about my own experience

Your answer will be a valuable science for beginners (newbie). Thanks.

About my experience, well in the past, i invested in cloud mining company (true cloud mining company, not ponzi scheme), unfortunately until today i have no profit, it seems that every month the supposed daily value that was i receive is reduced, so much disappointment that i did not even enter the site.

I gave up on the site, maybe they should have closed my account

[jimn]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

There is really very little sites of cloud mining which are legitimate and worth to invest with them, but most of this so called mining cloud sites are just ponzi schemes, and already scammed many people , like Hashocean and so many other programs..

[thend1949]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

There is really very little sites of cloud mining which are legitimate and worth to invest with them, but most of this so called mining cloud sites are just ponzi schemes, and already scammed many people , like Hashocean and so many other programs..

I certainly agree on this matter about mining, and that ponzi schemes who scammed people all around the world, this has been affecting lot's of mining reputations. We couldn't trust any legit minings nowadays and that sites you've mentioned few numbers of them is to be confirmed first before doing investments with them. Litteraly I am not into full knowledge about that mining ways because that educated myself based on the past readings and research I did, no mining is still profitable than before.

[GreenBits]

Do you all (cryptocurrency experts) recommend us (the newbie) to invest in the mining cloud?
Your answer will be a valuable science for beginners (newbie). Thanks.

No expert, but no. You are being sold a lie.


Consider the product you are purchasing. Essentially, a printing press that makes money.

Ask yourself, if you had a printing press that made money, would you rent it out to other people so that they could print money?

Let me answer that for you. Hell to the no, you would not. You would plug that bad boy in and print until the power went off, or it broke.

Now compare this to what you are buying

You are being sold uncertainty. The reason why anyone would offer you this is because they are not comfortable with the risk of not achieving ROI. By selling you a contract and getting paid in advance, you are being subjected to the uncertainty of difficulty increases, and time. In the meanwhile, they collect your money, spend it on more hashing power, and actually increase the difficulty, devaluing your asset.

Cloud mining is a scam. mine your own damned coins.