Cloud Mining Scam or legit

[yndye]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

I started in faucet too and then proceed to join cloud mining because it promises huge returns and I end up being scammed. There are sites maybe that are not scam but it gives so small earnings that you will still end up losing rather than earning. There are so many HYIP sites that promises just days and you will get back your return of investment but more often than not those are scam too. One hint for you is that if the return is too good to be true then maybe it is.

[vintages]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

OP, I was once in your shoe.
When I first started with bitcoin, I did  quite a lot of faucet, viewing ad and so sort of others things.
Then I saw cloud mining and I thought it was the deal and better than faucet, guess what, I was cheated!
I paid but wasn't evening receiving the profit of what I paid for, it will take you months to recover your normal payments not to talk of the normal profits. There will be a time that they stop paying and they will expect you to upgrade..(another scam).
My opinion OP is that they are not worth it, though you might find good ones but it will b quite hard.

[truthstalker]

Cloud mining is almost always a scam. You only have to search the scam accusation board and you'll find several cloud mining threads there. I think I've seen 2 successful companies running cloud mining. But then it's just a pyramid scheme in disguise. Don't do cloud mining guys

[mamesso]

In 2013 ago, I searched the faucet and searched for cloud mining.
no one pays, it's just a waste of time.
until finally i found this forum.
I recommend no longer believe in faucet and cloud mining.

[passwordnow]

Cloud mining is almost always a scam. You only have to search the scam accusation board and you'll find several cloud mining threads there. I think I've seen 2 successful companies running cloud mining. But then it's just a pyramid scheme in disguise. Don't do cloud mining guys

Not almost but they are really scams and if you don't want to be a victim of those cloud mining don't believe if someone endorses and advertises a cloud mining here in forum. And with those successful cloud mining companies you had mentioned are they hashflare and genesis mining? They are the most popular cloud mining but still I won't put any single penny on them just to be sure.

[1Referee]

I think I've seen 2 successful companies running cloud mining.

Successful in what way? For the people being dumb enough to buy themselves into cloud mining, or for the cloud mining services? I go for the latter.

But then it's just a pyramid scheme in disguise.

That. I see cloud mining also as something with close similarities to one major rule when it comes to casinos, and that's basically that the house always wins in the long term. In both cases people are chasing an easy way of generating income, while in reality they aren't earning anything. It only results in losses. Compare the returns of any type of investment with just buying yourself into Bitcoin, and you'll see that buying Bitcoin has greatly outperformed each and every investment option with great ease. Now it's waiting for people to realize this.

[gabbie2010]

I agreed with you there are has been some faceless scams around this cloud mining companies, majority are fraudsters when you invested your money with the aim of recouping your investment, in a long run your money is gone, in fact you cannot even control them, I prefers diverting my investment to something else rather than cloud mining.

[el kaka22]

In 2013 ago, I searched the faucet and searched for cloud mining.
no one pays, it's just a waste of time.
until finally i found this forum.
I recommend no longer believe in faucet and cloud mining.

Good you found this forum pretty fast. Faucets are apparently a waste of valuable time and PC RAM and some people even end up having a malware infected browser/system in the process, while 99% of cloud mining websites are nothing but scams and even the 1% are not worth it as the investor will be happy if he/she ends up managing to collect their ROI.

[marukochanx3]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

I see a lot cloud mining was scam , their want us deposit first time , then their will withdraw for us.
But if you deposite more than $1000 , maybe their will take ur money and never withdraw your money to ur wallet.
I know because this my experience. 
Becarefull , dont trust any cloud mining , their will scam u when ur deposite a lot balance on ur account 

[richardsNY]

I see a lot cloud mining was scam , their want us deposit first time , then their will withdraw for us.
But if you deposite more than $1000 , maybe their will take ur money and never withdraw your money to ur wallet.
I know because this my experience. 
Becarefull , dont trust any cloud mining , their will scam u when ur deposite a lot balance on ur account 

The cloud mining scam sites that you are talking about who shut down after receiving decent deposits, are nothing more than shitty sites that are being operated by a few noobs who get excited by just a few thousand bucks. If we look at how certain cloud mining services are operating, perfect example is genesis mining, they don't have to shut down in order to scam people -- they can keep paying out till a moment comes your contracts will get terminated due to them not being profitable anymore. Funny thing is that a lot people here consider genesis mining to be a legitimate cloud mining service -- just shows how delusional people here are....

[cydrix]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

Correct me if im wrong some cloud minings are not always a scam they really provide money for the interest and then eventually it became a scam to others because it pays low and could think that it is a scam wqste time and influence on the forum gets you all the idea it is a scam but some are not always a scam just not paying enough to your capital

[pratik009]

Cloud mining is most of time scame.only very less site are legit for cloud mining.but it is very slow process and take too much time.so I suggest you to not do  cloud mining.some sites are legit but still I suggests you to not do investment in such sites.because if you invest in that then they closed you account .so be safe.

[jatin729]

Yes there are most of cloud mining sites is a scam.
I got scammed by startminer please be aware before investing these kind of websites.
Because once they get enough profit from consumer they shut down website.

One of the legit website but i am nit using it
Genesis mining

[allcloudminers]

There are many cloud mining scams out there. Dont invest in new cloud mining companies that guarantee you a certain profit per day. Also, be careful when they give away free cloud mining power. Genesis Mining, Hashflare, Hashing24, Hashnest, Minergate are examples of legit cloud mining companies.

Read more: www.allcloudminers.com

[Wipro]

There are many cloud mining scams out there. Dont invest in new cloud mining companies that guarantee you a certain profit per day. Also, be careful when they give away free cloud mining power. Genesis Mining, Hashflare, Hashing24, Hashnest, Minergate are examples of legit cloud mining companies.

Read more: www.allcloudminers.com

Even these trusted legit mining sites also not giving profit to anyone. Their money will be looted back in the form of maintenance fees and for buying the hash power from the network pools. Ignore any type of cloud mining sites, your time will be wasted and you cannot make any income you giving out for electricity too. In these list, Minergate mining will be mining via CPU cores and GPU cards.

[Blake_Last]

Some cloud mining sites are legit and there are also some that are scams. For a cloud mining to be legit, it should have a mining rig running and capable of subsidizing and paying everyone who has invested in it. However, if the cloud mining site does not have this type of facility or rig, and they don't have a particular site where they run and mine various cryptocurrencies, then basically speaking, these sites are a scam and only operating to deceive unsuspected victims to invest in their fraudulent scheme.

[Koro-Sensei]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

If you ask me i dont really recommend  cloud minings it has many reports as such in scams or ponzi  . Some not but considering the time and waste of money because of slow flow of incomes so really not suggesting cloud mining almost 70% of cloud mining spots are scams well im just predicting theres no perfect evidence for me but thats my estimation and as you said  some people will disagree but who are we to judge on a persons perspective or decissions2

[Koro-Sensei]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

I started in faucet too and then proceed to join cloud mining because it promises huge returns and I end up being scammed. There are sites maybe that are not scam but it gives so small earnings that you will still end up losing rather than earning. There are so many HYIP sites that promises just days and you will get back your return of investment but more often than not those are scam too. One hint for you is that if the return is too good to be true then maybe it is.

Yea probably its the people who thinks cloud mining could generate such kind amount of money 24 hours or so . So people tend to say that it is a scam because as you say it has a small amount of interest than your money dropped but eventually wont happen after some time because some cloud mining site also tends to lure the some people in their stand and let them have the first or two but the third one and or last it wont happen again

[Hamphser]

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

I started in faucet too and then proceed to join cloud mining because it promises huge returns and I end up being scammed. There are sites maybe that are not scam but it gives so small earnings that you will still end up losing rather than earning. There are so many HYIP sites that promises just days and you will get back your return of investment but more often than not those are scam too. One hint for you is that if the return is too good to be true then maybe it is.

Yea probably its the people who thinks cloud mining could generate such kind amount of money 24 hours or so . So people tend to say that it is a scam because as you say it has a small amount of interest than your money dropped but eventually wont happen after some time because some cloud mining site also tends to lure the some people in their stand and let them have the first or two but the third one and or last it wont happen again

Thinking off the concept on how Ponzi works which old investors would really be paid up by the amounts being invested by new comers which means payout would really depend if there someone new do join but coming to a point on where no one would able to join now then for sure this is the best time for them to ran off all the money have been invested.They are really just good on 1-2-3rd payments but later on expect that you would be scammed.Nothing on this world do gives huge interest for a short period of time without doing nothing.

[SamsungBitcoin]

Way back 2 years ago there are legit cloud mining site (I forgot that site but i am participated on that site) which has lots of investors and supporters but suddenly bad something happen on their management and they turn to scam. Then after that i do not see any legit cloud mining site until now most of them are only wanting to scam investors and their target is the users who are greedy to make income. They post great screenshot with withdrawal to show that their site is legit but in behind those proof is not legit.