Cloud Mining Scam or legit

[Tyrantt]

in most cases, it's a scam, in a more less often cases they can't keep up with the difficulty and just can't pay out therefore a failed investment. Stay away from cloud mining, it was a thing a few years back but now, I can surely  say that 95% of cloud mining services are a scam. That time has passed.

[spngebob]

I am pretty new to bitcoin and have basically been using faucet sites to get started.

Don't collect from faucets, you will waste your time. Better invest 100$ and buy bitcoins for it, it will spare you half year of useless clicking.

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

There are ponzi scams - they will tell you that they are mining but actually they are only depending of new depositors.
And there are real companies where you will reach ROI very hard and it is not worth of money.
Find other ways to earn bitcoins.

[felicita]

i think the only legit cloud mining is genesis mining !
iam working with them since 2 years now and the owner is also from germany like me so iam supporting my locals

Genesis mining has many video proofs of there mining in iceland !
I like them a lot and get great paymens every day ! mind payout at moment is 150 000 Satoshi its mined fast if you own some ghs there!

kind regards

[Potato Chips]

i think the only legit cloud mining is genesis mining !
iam working with them since 2 years now and the owner is also from germany like me so iam supporting my locals

Genesis mining has many video proofs of there mining in iceland !
I like them a lot and get great paymens every day ! mind payout at moment is 150 000 Satoshi its mined fast if you own some ghs there!

kind regards

There are actually a few legit paying cloud mining sites out there e.g. hashnest although that doesn't guarantee you that they will remain like that always so my advice will always be to stay away from cloud mining sites as much as possible. Also experiencing problems with them should be expected so if you wanna try you have to be ready for it. Always invest an amount you can afford to lose although i think a person who profits on his first try will likely invest more on his second try.

[pixie85]

i think the only legit cloud mining is genesis mining !
iam working with them since 2 years now and the owner is also from germany like me so iam supporting my locals

Genesis mining has many video proofs of there mining in iceland !
I like them a lot and get great paymens every day ! mind payout at moment is 150 000 Satoshi its mined fast if you own some ghs there!

kind regards

You're supporting your locals? I thought all their miners are supposed to be in Iceland.

Genesis Mining Ltd. Chinachem Century Tower, 31/F, 178 Gloucester Road, Wanchai Hong Kong.
Very local, indeed

Cloud mining is a scam, that's all there is to say.

[felicita]

i think the only legit cloud mining is genesis mining !
iam working with them since 2 years now and the owner is also from germany like me so iam supporting my locals

Genesis mining has many video proofs of there mining in iceland !
I like them a lot and get great paymens every day ! mind payout at moment is 150 000 Satoshi its mined fast if you own some ghs there!

kind regards

You're supporting your locals? I thought all their miners are supposed to be in Iceland.

Genesis Mining Ltd. Chinachem Century Tower, 31/F, 178 Gloucester Road, Wanchai Hong Kong.
Very local, indeed

Cloud mining is a scam, that's all there is to say.

yes there mining farms in Iceland but the founder and leader of this company is a German guy
if he minign in germany he has to pay 16x more than in iceland In iceland there is allways cold no hot summer thats best for minig
and this is no scam its real


kidn regards

[richardsNY]

yes there mining farms in Iceland but the founder and leader of this company is a German guy
if he minign in germany he has to pay 16x more than in iceland In iceland there is allways cold no hot summer thats best for minig
and this is no scam its real

Who cares where they are located (if they even actually are mining)? Cloud mining is a way (even for legitimate mining operations) to generate income from which they in advance know the far majority of the users will never reach ROI. It's basically a legit form of scamming people, and the funny thing here is that a lot people don't realize that. It's them carelessly pumping their money into whatever service that looks promising when it comes to its rewards. It's pure capital destruction.

[eagleman]

yes there mining farms in Iceland but the founder and leader of this company is a German guy
if he minign in germany he has to pay 16x more than in iceland In iceland there is allways cold no hot summer thats best for minig
and this is no scam its real


kidn regards

Are you working with genesis mining company? It seems that you are being offended and trying your best for defending them. Don't get hurt if someone says that cloud mining are scam, the operation of GM isn't even proved that they are real, who knows?


And it doesn't matter on how long they've been operating, remember with what happened to hashocean.  I didn't invested with it because since before I was doubting CM's.

[CyberKuro]

Indeed, cloud mining has been known as scam project due to many of them were ended as scam. But, there are few cloud mining which has been around for years and consider as legit such as genesis mining. Newbies always looking for an easy way to earn bitcoin and interested to invest on scam cloud mining which offers high return and fast ROI than other legit cloud mining, so i do not recommend to invest on such sites. If you have like $1000 to invest on cloud mining, it may be profitable after several months if you can be patience, waiting for ROI which takes, usually 6 months. But, most people will advice to not do it, and prefer to invest in bitcoin or altcoins.

[black014]

Stay away from cloud mining. Even if it was legitimate, it is a very slow process and the model behind the business doesn't make much sense to me - iirc, I ran some numbers and it was about 18 months to begin to see a ROI.

yeah, that was true almost cloud mining site are not legit, do not trust. wasting your time into that site making your invest loosing. it's better to participate to a signature campaign instead of investing to scam site like cloud mining.

[blockman]

Stay away from cloud mining. Even if it was legitimate, it is a very slow process and the model behind the business doesn't make much sense to me - iirc, I ran some numbers and it was about 18 months to begin to see a ROI.

yeah, that was true almost cloud mining site are not legit, do not trust. wasting your time into that site making your invest loosing. it's better to participate to a signature campaign instead of investing to scam site like cloud mining.

In my way of thinking all of them are scams, I never invested to a cloud mining but base on what I've studied most of them are just giving every investor a sore when they are saying a lot of percentage that will be distributed to the investors. It's too good to be true and don't be some quite ignorant without knowing if that company is a legit one hence just choose trading instead of cloud mining.

[Ararbermas]

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

  well for me when i heard cloud mining i remember all of my experience on it when i started. I've been scam for many times in any cloud mining which is promising. i am agree that not all of cloud mining is a scam but after how many weeks it will end into scam. So much better to invest and not to mining cause you really wasting your time on it . Cause now adays all over the Internet some of the offering sites that promising also like the classified site is a scam. Such as clone site the same website design like the legit site . I suggest to do a review first put some time for reading so that you can avoid scammers.

[crairezx20]

Stay away from cloud mining. Even if it was legitimate, it is a very slow process and the model behind the business doesn't make much sense to me - iirc, I ran some numbers and it was about 18 months to begin to see a ROI.

yeah, that was true almost cloud mining site are not legit, do not trust. wasting your time into that site making your invest loosing. it's better to participate to a signature campaign instead of investing to scam site like cloud mining.

In my way of thinking all of them are scams, I never invested to a cloud mining but base on what I've studied most of them are just giving every investor a sore when they are saying a lot of percentage that will be distributed to the investors. It's too good to be true and don't be some quite ignorant without knowing if that company is a legit one hence just choose trading instead of cloud mining.

There is no legit base on what i experience of many cloud mining site there are some cloud mining site that can stay for long but in the end they will give a reason that they hack even its not .. the same happen in exchanges like MT.gox
I experience of scam by many investment and cloud mining site and there is no legit almost all are scam you can be experience of paying but its just a disguise to attract more people to invest and encourage people to invest more until they are satisfied what they collected before they will going to be scam..
So if you really care about your money and you don't to scam better to be careful and stay in bitcoin instead or like you suggest trading are also good not the same risk as investment or cloud mining..

[felicita]

yes everyone how investet inc lcoudmining knows that it migth end before ROI ;9
but the only think i can say, wiout offers from GM XD, i got my ROi on GM and its mining since now.
maybee they stop towmorrow but all contract you buy ther are with open end !!



kind regards

[gilangIDR]

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 strongly discourage the use of cloud mining. Until now, cloud mining only perform calculations only. In fact most of them do not have real hardware mining. I am quite worried because they play the Ponzi system because they do not have a clear system. This is evidence that cloud mining is not an investment you should choose. You will only lose your capital and get some satoshi only. There is also cloud mining is blurred and bring all the money belongs to the investors. This is a risk and we should really never try cloud mining.

[blockman]

Stay away from cloud mining. Even if it was legitimate, it is a very slow process and the model behind the business doesn't make much sense to me - iirc, I ran some numbers and it was about 18 months to begin to see a ROI.

yeah, that was true almost cloud mining site are not legit, do not trust. wasting your time into that site making your invest loosing. it's better to participate to a signature campaign instead of investing to scam site like cloud mining.

In my way of thinking all of them are scams, I never invested to a cloud mining but base on what I've studied most of them are just giving every investor a sore when they are saying a lot of percentage that will be distributed to the investors. It's too good to be true and don't be some quite ignorant without knowing if that company is a legit one hence just choose trading instead of cloud mining.

There is no legit base on what i experience of many cloud mining site there are some cloud mining site that can stay for long but in the end they will give a reason that they hack even its not .. the same happen in exchanges like MT.gox
I experience of scam by many investment and cloud mining site and there is no legit almost all are scam you can be experience of paying but its just a disguise to attract more people to invest and encourage people to invest more until they are satisfied what they collected before they will going to be scam..
So if you really care about your money and you don't to scam better to be careful and stay in bitcoin instead or like you suggest trading are also good not the same risk as investment or cloud mining..

There are some cloud mining now that are still operating and many are investing to that cloud mining. And for sure many are familiar with hashflare and genesis mining. Many says that these two are legit but I don't give them my trust since I was aware on what happened with the other famous cloud mining before which is hashocean. And that made me not trust all of the cloud mining anymore and there's no way for me become convinced with them anymore.

[tonlong]

Cloud mining is not worth buying ever and i think there is better ways like holding coins or mining yourself. Don't waste your time with it which is nothing more than a scam.

[iqlimasyadiqa]

Cloud mining is not worth buying ever and i think there is better ways like holding coins or mining yourself. Don't waste your time with it which is nothing more than a scam.

Cloud mining is just a step to waste time we have. as a person who knows bitcoin makes me believe that cloud mining is a system that can destroy the money we have. the proof of many people who lose a lot of money because of losses after investing in cloud mining. although there are some legit cloud mining but that does not guarantee that we will benefit, they will play time until we finally lose all the investment we have.

[nerverd99]

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

When the cloud mining new open their project , their will pay you fast , trusted and can withdraw , but when their have much customer , they will be scam ur money and never pay for you again , u lost u money. they scammed u. i never trust any cloudmining btw. 

[Drixy]

Stay away from cloud mining. Even if it was legitimate, it is a very slow process and the model behind the business doesn't make much sense to me - iirc, I ran some numbers and it was about 18 months to begin to see a ROI.

yeah, that was true almost cloud mining site are not legit, do not trust. wasting your time into that site making your invest loosing. it's better to participate to a signature campaign instead of investing to scam site like cloud mining.

Well as of for now we dont have the good mining site yet though in 2012-2013 when still many minings and more profits made through that . Then our dawn is not the right tme to prepare such thing as mining because a lot od that lately has no profitable guarantee that you can make ammends on your capital youll only waste time and precious energy to such a slow income business why struggle to that if you have bitcointalk forum