What do you think of Cloud mining?

[mafral]

I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.

[gentlemand]

Almost all of the time it is too good to be true.

Check this - https://blockchain.info/charts/difficulty

That's mining difficulty. More difficulty requires more machines and more electricity.

To keep paying you the same amount the miner has to spend that much more to keep up.

Are they going to do that? Nope. They're going to go Ponzi and pay you with the money they fleece from other people. Keep going until it collapses.

[Roydgon]

Someone can explain what a cloud is?

[gentlemand]

Someone can explain what a cloud is?

Cloud as in something happening elsewhere like cloud storage. The idea is that you're paying someone else to run mining machines and they're giving you their profits after a cut. In reality no one is doing this.

[coinsons]

only who make a cloud rent mining earn money
u can only money if u known that this crypto will pump 100% in future

[Aderiho Bitjones]

I think that if there is money then you can buy power. And invest in big money. But if there is little money, then it's better not to deal with it. Since it will pay off only in half a year

[player514]

I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.

Cloudmining is almost always a scam. If the people actually did have hardware that would work to mine as much as they claim, then why would they not just use the hardware for themselves?

It doesn't make sense for the people to give you a cut with the hardware. Logically, the only true option for the reason of cloud mining is to be a scam.

[TepungBeras]

Better we mine ourselves than we invest in cloud mining, Because such investments can stop when rich, and the results are also small

[zolfa]

yes, I've heard of cloud mining, I think it's the same as hitbtc. I see it's a scam, because my friend has been 4 years doing cloud mining, but never produced bitcoin in the least. I better choose a faucet, which can produce little bitcoin.

[Vatimins]

I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.

     Never listen to those scammers. If you do, you will only get added to the list of the dumb people that became victims to these kinds of dirty schemes by those lazy ass scammers. Cloud mining won't really be able to do you anygood. It will only put your investments into waste together with your precious time and effort. There are plenty of ways to earn crypto currencies. Better watch that instead of believing scams like these.

[Dreamr]

I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.

Cloudmining is almost always a scam. If the people actually did have hardware that would work to mine as much as they claim, then why would they not just use the hardware for themselves?

It doesn't make sense for the people to give you a cut with the hardware. Logically, the only true option for the reason of cloud mining is to be a scam.

No. I don't think cloud mining services like Genesis Mining, and Hashflare Mining are scams because they have physical mining hardware working on their mining farms. Maybe some mining sites e.g. IQ Mining.

[TWW]

one word...SCAM...as far as i know mostly of them are scam...firstly they promise you a very very promising investment program...when you reach an ammount to withdraw they demanding a minimal deposit...when they get everything they want from many users then its time to escape...the true cloud mining is only genesis mining which has real mining hardware

[mrtryonebiggums]

one word...SCAM...as far as i know mostly of them are scam...firstly they promise you a very very promising investment program...when you reach an ammount to withdraw they demanding a minimal deposit...when they get everything they want from many users then its time to escape...the true cloud mining is only genesis mining which has real mining hardware

Not true at all, I have a friend who does it often and he has not once been scammed. It does require effort and diligence on your part but so does everything else that can be profitable. Lets face it the money or the correct coins aren't just going to fall into your lap you gotta do your homework.

[Dread Pirate Roberts]

Cloud mining and rent mining. some of them which are legitimate pay. But also a lot of those company use the ponzi system to get it that leads to fraud.
its dangerous to join . for my personal opinion . whatever they said i dont really trust it . they just had plan to mainain cashflow. not maintain mining flow .
maybe someone has or is getting regular payments from the service right know. but its part of the plan, they create trust. so they ( investor )want to invest more and their (owner) financial flow smoothly. until it's time for them to run away with the rest of the money when everyone begins to join them.

[AltcoinAuthority]

one word...SCAM...as far as i know mostly of them are scam...firstly they promise you a very very promising investment program...when you reach an ammount to withdraw they demanding a minimal deposit...when they get everything they want from many users then its time to escape...the true cloud mining is only genesis mining which has real mining hardware

Not true at all, I have a friend who does it often and he has not once been scammed. It does require effort and diligence on your part but so does everything else that can be profitable. Lets face it the money or the correct coins aren't just going to fall into your lap you gotta do your homework.

You might want to stay in your own lane, most Cloud Mining websites are wanting to scam people when they can get enough people to market  them.

[pawanjain]

It indeed is too good to be true. Cloud Mining is not any good now because of Bitcoin's difficulty. You won't be able to make any major profit through cloud mining. Most of the sites which claim to give huge profits in cloud mining through investments are probably fake and will scam you for sure. Cloud mining cant make any worthy profit now and os it is best to avoid any such investments.
It would be better to invest that amount directly into trading. If you just want to do the mining, then you should be doing the traditional mining by buying hardware and building mining rigs.

[jjacob]

I am new in the bitcoin world, and I saw this publicity on instagram about cloud mining, it claimed that I could earn bitcoins with any investment, even without having a hardware. I did a little research but didn't understand much, it seems too good to be true.

The returns promised are not guaranteed, but based on expected growth in hashing capacity of the industry and expected mining rewards which the firm will obtain. If some cloud mining firm promises you guaranteed returns, then it must be a scam operating like a ponzi scheme. Some mining companies do not even tell you where they are based and are not open about their hardware specifications - big red flags.

[TWW]

one word...SCAM...as far as i know mostly of them are scam...firstly they promise you a very very promising investment program...when you reach an ammount to withdraw they demanding a minimal deposit...when they get everything they want from many users then its time to escape...the true cloud mining is only genesis mining which has real mining hardware

Not true at all, I have a friend who does it often and he has not once been scammed. It does require effort and diligence on your part but so does everything else that can be profitable. Lets face it the money or the correct coins aren't just going to fall into your lap you gotta do your homework.

well...i said mostly but its really hard to find legit one...they mostly run their website in 1-3 months...at that time they may really paying but you should know how to predict when or how they close their cloud mining suddenly if dont want lose your money

[CloudM]

Making profit via cloudmining is all about your prediction on the future coin price you're mining. If you think the price is going higher, you should sign up a cloud mining contract to secure the profit.

[fenican]

Conceptually it is a good and profitable business for someone selling the contract - rather than have all the uncertainty associated with wildly fluctuating crypto prices and difficulty, which can render a hardware farm completely unprofitable overnight, a cloud mining company can lock in a profit margin and have certainty that they will recoup their hardware costs plus profit. It is, conceptually, a great business. Unfortunately the world is full of scams and it's an easy scam for a company to never buy the hardware and just sell bogus mining contracts. That, not the viability of the business model, is what has prevented cloud mining from taking off. But if Amazon or a reputable provider offered the service, it could be a WIN-WIN.