Mining Cloud. May or Not?

[Rahar02]

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/

Nice information about could mining as the most known are genesis and hashflare (I've read it everywhere).
But people, especially for newbies don't know exactly how this mining works, and how if they just run away with all of those money.
Consider how much money we have to pay in order to be involved, such as $140-$500 and so on but you need to wait until 4-6 months for ROI. I always consider, why they should share mining profits for people who don't want to do their research and efforts to build mining rig? Only for easy money.

[wantjokull]

Definitely not.

Because cloud mining is not profitable, those are Ponzi schemes which can make you victim of investments easily. The numbers on the websites you see are just numbers and nothing else. They don't do real mining so you are not investing money and you are just giving away your money for doing nothing. Better invest money into hardware mining. Period. :-)

[hammada]

I am very grateful to all of you. Your answer is a very useful reference. The mistake I made was to invest in a bitcoin-"mining" site with a farming concept. Although my investment is small but the "without asking" error is regrettable.

[jerowacik]

Definitely not.

Because cloud mining is not profitable, those are Ponzi schemes which can make you victim of investments easily. The numbers on the websites you see are just numbers and nothing else. They don't do real mining so you are not investing money and you are just giving away your money for doing nothing. Better invest money into hardware mining. Period. :-)

Cloud mining is a way that is done by people who are not responsible, he is just looking for profit for himself. Look at today most of the cloud mining will end up scam when it has been able to capture a lot of registrants. They have a goal to take all the bitcoins that are deposited under the pretext of buying hardware mining. The fact is they just keep quiet and wait until we deposit bitcoin to them.

[nethan1btc]

Definitely not.

Because cloud mining is not profitable, those are Ponzi schemes which can make you victim of investments easily. The numbers on the websites you see are just numbers and nothing else. They don't do real mining so you are not investing money and you are just giving away your money for doing nothing. Better invest money into hardware mining. Period. :-)

Cloud mining is a way that is done by people who are not responsible, he is just looking for profit for himself. Look at today most of the cloud mining will end up scam when it has been able to capture a lot of registrants. They have a goal to take all the bitcoins that are deposited under the pretext of buying hardware mining. The fact is they just keep quiet and wait until we deposit bitcoin to them.

I think it's not fair for us who worked hard for our bitcoin and those miners just mined bitcoins and depreciated the supply. But I don't think those mining sites maybe sustaining for a long time due to costs is very high, that's those ponzi schemes came out and scam people for their personal will and intentions.

[ss890]

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.

I think looking at all the responses here there should be one system to be incorporated within the forum, which will state the information regarding "investing money into cloud mining"

A special pinned topic to describe the pros and cons of the cloud mining. There should be list of cloud mining services which are legit and which aren't. Well most of them are scams but two three miners are taking it seriously so we can't deny the topic of cloud mining completely. Yes they do shut down the website completely if they found out that they are getting towards the loss and hopefully we can minimise risks of getting victimised by having all new pinned topic. Im hoping to create one by my self to help the noobs.

[sulendra12]

You can try to invest on Cloud Mining like Genesis but don't hope for short profit as you need to wait to get back your investment maybe 6 months depend with your investment as you can clearly see cloud mining isn't a good idea to invest but if you don't mind with it, go ahead.

[JanpriX]

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.

Investing in a mining cloud is a big NO to recommend especially to newbies like you. Please always remember that those sites are 99% scam sites that take money from people who are new to this type of scheme. They will let you deposit your BTC to them but will not return the promised money. It is better for you to level up your rank here in Bitcointalk and then join different campaigns along the way. You'll earn significant amount of BTC by doing that.

[reflector]

You can try to invest on Cloud Mining like Genesis but don't hope for short profit as you need to wait to get back your investment maybe 6 months depend with your investment as you can clearly see cloud mining isn't a good idea to invest but if you don't mind with it, go ahead.

If genesis or hashnet. What ever cloud mining that will not give you way make profit. You need to buy the hash power with the high cost to get the profit accordingly. I noticed both kind of the people who are seeing the profit as well as loss. If you are moderate worker in it, consider this as scam or ponzi scheme. Please buy antminer S9, which can be provide a highest end profit in mining platform.

[raymond541]

Obviously no I have done little research about cloud mining.first few days they give you profit and you eager to make more profit and buy more hash power after few days you will see fees are more than outcomes.scammers understand that people are now smart.people knows cloud mining sites are ponzi scheme.they are now taking few times to run out.beware of any cloud mining site you will never benefited.

[pixie85]

Cloud mining shouldn't even be called mining because you can't even be sure if the service provider is mining. Most cloud mining services are protecting their real mining statistics and you'll never know what they were mining and where. They only want you to give them money and shut up for a year or two while they're using it to make more money.

[tabas]

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, you don't have to invest in cloud mining because they are all scams. It's not good for you newbies to invest there because in the end you will feel upset with the contracts and as well as the possibility that they will runaway from the investors. Learn with other ways of investments as it is the not the only way to invest in cryptos.

[betlord90]

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, you don't have to invest in cloud mining because they are all scams. It's not good for you newbies to invest there because in the end you will feel upset with the contracts and as well as the possibility that they will runaway from the investors. Learn with other ways of investments as it is the not the only way to invest in cryptos.

That's why we need to avoid them and to avoid them we shouldn't try to seek any of those kind to invest since as we said for  numerous time cloudmining is totally a scam investment site. And if people who's seeking that doesn't satisfy to our comment much better if they will seek for proper answer for themselves so that they can point out that this scam is project and must needed to avoid.

[tabas]

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, you don't have to invest in cloud mining because they are all scams. It's not good for you newbies to invest there because in the end you will feel upset with the contracts and as well as the possibility that they will runaway from the investors. Learn with other ways of investments as it is the not the only way to invest in cryptos.

That's why we need to avoid them and to avoid them we shouldn't try to seek any of those kind to invest since as we said for  numerous time cloudmining is totally a scam investment site. And if people who's seeking that doesn't satisfy to our comment much better if they will seek for proper answer for themselves so that they can point out that this scam is project and must needed to avoid.

Just simple avoid them and don't show any interest there. They are completely not going to give you some good profit. We may say that there are some existing cloud mining that pays well to their investors but it isn't enough just for you to try it too.