ViaBTC closing cloud mining contract Market

[casparthefriendly]

https://pool.viabtc.com/announcement/21/

ViaBTC is closing their Cloud Mining Contract business apparently. Interesting...

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[Fidemoga]

https://pool.viabtc.com/announcement/21/

ViaBTC is closing their Cloud Mining Contract business apparently. Interesting...

Yupp, I also got the notification. Maybe they had all their servers in China. And it seems to be unsecure right now, if China will ban mining companies because of electricity resources. But it is a nonesense for me to ban mining because the electricity consumption for traditional money is much higher.

[Slow death]

https://pool.viabtc.com/announcement/21/

ViaBTC is closing their Cloud Mining Contract business apparently. Interesting...

this Announcement they made is very vague, they did not give relevant details of why they are closing all contracts, so it seems that they have no respect for their customers.

In order to control speculation and protect the interests of our investors, ViaBTC will officially close cloud mining

I do not understand anything they're saying, what the hell do they mean by "speculation" and " protect the interests of our investors ", Is it because of recent news from China?

But it is a nonesense for me to ban mining because the electricity consumption for traditional money is much higher.

I think China is taking these steps because it does not want its people to use decentralized currencies.

[1Referee]

Oh no, this means one thing, and that's genesis mining gaining a whole lot more empty headed chickens as "investors". Genesis mining is exempt from all the drama unfolding in China due to the potential mining ban, because they aren't mining anything. This however is just a temporary action, because once the farms are relocated, they will be back in the game. The only thing I like about this is that China will no longer be the central point of the majority of all the network power, and that we should all be happy about.

[error08]

How about people who just purchased mining contract recently like 1 week or 1 month but have not achieve ROI? It's a disaster for them.
What does it mean; Please finish all your cloud mining contract trading ASAP?
Will they gonna pay investors for the rest of the contract or just stop all the contract yesterday?

[shield132]

I was going to invest in their cloud mining, great I didn't do that. For example if I have cloud mining contract here and they decided to close, what happens? No one will buy unuseful shares here because it's closing so will they refund or what? They said only "Please finish all your cloud mining contract trading ASAP." Nothing more. That's bad, they were new but really good company.

[RGBKey]

This is why you don't buy "lifetime cloud mining contracts". Because shit happens. There are plenty of people in this forum advocating against cloud mining, nobody should be unaware of the risks.

[BitHodler]

There are plenty of people in this forum advocating against cloud mining, nobody should be unaware of the risks.

Plenty of people advocating against cloud mining, but still plenty of people being delusional enough to do so anyway. The only difference here is that ViaBTC does have an actual farm, where 99% of the rest doesn't.

Those who bought shares a long time ago couldn't have seen this coming, so the only thing they can be blamed for is investing in something that isn't profitable at all. Those who invested very recently are just dumb.

If you know that a potential mining ban is looming in China, which has been like this for more than a month, you obviously should avoid using ViaBTC or any other actual mining farm in China to start cloud mining.

If you proceed with it without doing any research, you're just asking for it.