Why do people continue to invest in cloudmining?

[squatz1]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

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[zhekinsp]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

The answer is greed.

People are attracted by the offers given by the cloudmining sites so they are just blindly invest on something and lose their money totally.But people need to realize that 9/10 cloud mining sites are scams and one of my friend also victim of cloud mining scams so please control your greed and save your money from scammers.

[NeuroticFish]

The answer is greed.

People are atracte by the offers given by the cloudmining sites so they are just blindly invest on something and lose their money totally.But people need to realize that 9/10 cloud mining sites are scams and one of my friend also victim of cloud mining scams so please control your greed and save your money from scammers.

I think that you are only half right. I think that there are not that many actually in cloud mining. Most are only spreading ref links and use the "demo" "hashrate" in a hope they'll earn a few satoshi from that.

[sunsilk]

They really don't care about our advises here in the forum.

Just like what Neuroticfish said they are only spamming their websites and asking like this "is this *mining site* profitable?".

They are exposing those websites as if they are advertising for free just to get attention and hopeful that they can get an easy investor that is so gullible with their scripted potential profit.

[Zadicar]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

The answer is greed.

People are atracte by the offers given by the cloudmining sites so they are just blindly invest on something and lose their money totally.But people need to realize that 9/10 cloud mining sites are scams and one of my friend also victim of cloud mining scams so please control your greed and save your money from scammers.

Definitely right. As long there are people who do feed those scammers cloud mining or HYIP sites would really still exist no matter what. They do close and ran investors money and few days later they would pop out like mushrooms in the jungle and newbie investors or greedy people will really able to be fall out into the pit of being greedy on money which hyips sites can really convince innocent minds and to those who lack of experience.

[ManaMan]

If they want to jump in and buy the cloudmining contract without previously asking and researching it then it is their problem. Let them make their mistake and hopefully they will learn something about it. Of course they are lookig for money and then they hear mining is the process that creates crypto+ you get passive income and they are excited then they figure out that they are the ones who most probably need to put it all together and set the machine to run. Since they don't understand the thing about it of course it is easier for them to go online and buy cloud mining. Because this way it is one-click away as opposed to researching how they can do their mine operation and set it up themselves.

When you go to cloud mining websites they also offer great opportunity and then you average Joe is sold right away. Tho some cloud mining services seems to be real and in case of price increase you could look at profit at end. However I can't claim anything as personally I haven't tried any of them.

[SellBuyAcc]

They just want more money on their own, even the fact that it might scam their but due to the "greediness" to have more they take more risk at all.

[Tyrantt]

They're greedy and lazy. Lazy to ask around before throwing their money away. They don't even have to ask, they just have to think a little and they'd realise themselves why bitcoin cloud mining is not viable anymore.

[cissrawk]

They're expecting to get profit when they do nothing or something like "I Build this to make passive income, so i don't need to work again" or maybe "This is my passive income, so when i don't get enough salary from my job, then i still have this passive income". But as you can see, they don't get profit except from referral program.

[leowonderful]

Ignorance combined with what's already been said. People fall for obvious scams like Nigerian princes and invest in HYIPs and Ponzis (cloud mining is one!) every single day, and posting and setting up alerts can only do so much. The apparent flexibility and simplicity of cloudmining compared to getting miners hosted also reels people in, and don't forget all the ads. Investments in cloudmining will probably continue to be popular for a few years if Crypto is still as valuable in those days.

[ASHLIUSZ]

Very limited locations around the globe has got the low electricity consumption charges. Mining cannot be made effective when placed in a location where electricity charges were high. To eliminate the electricity consumption people prefer the cloud mining, and here very few functions with legitimacy while the rest easily get the investment and scams the people.

[Pursuer]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

The answer is greed.

People are atracte by the offers given by the cloudmining sites so they are just blindly invest on something and lose their money totally.But people need to realize that 9/10 cloud mining sites are scams and one of my friend also victim of cloud mining scams so please control your greed and save your money from scammers.

it is partly greed but also partly the desperation for earning more bitcoin.
I think you already know that one of the most common questions that is asked is "how do I earn more bitcoin". and people always want to receive money (bitcoin in this case) the easiest way possible without doing anything. and when they see these cloudmining sites and the advertisement and the numbers and all the empty promises,... they finally give in and invest.

[zhekinsp]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

The answer is greed.

People are atracte by the offers given by the cloudmining sites so they are just blindly invest on something and lose their money totally.But people need to realize that 9/10 cloud mining sites are scams and one of my friend also victim of cloud mining scams so please control your greed and save your money from scammers.

it is partly greed but also partly the desperation for earning more bitcoin.
I think you already know that one of the most common questions that is asked is "how do I earn more bitcoin". and people always want to receive money (bitcoin in this case) the easiest way possible without doing anything. and when they see these cloudmining sites and the advertisement and the numbers and all the empty promises,... they finally give in and invest.

So we can call it as greed to become a millionaire without doing anyworks but actually they are just losing their little money what they have.No one can be a miilionaire by doing no works or by doing hardworks,the only way to become a miionaire is by doing hardworkd in smart ways.
If they really want to earn some bitcoins without doing any works then they need to built their own mining farm but obiviously it needs huge capital so earn that money by doing some real day job then built your own farm.

[Lucius]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

I think the first reason is ignorance, many new users really do not know almost nothing about cryptocurrency-they think money can be made from thin air and cloud mining scamers target them everywhere.Although there are warnings everywhere and even on this forum some still do not understand it, which brings us to another reason and that is very poor understanding of english language.

Regardless of all of the above we should not give up in the fight against all forms of fraud,if you help only one person every day to stay away from such thing I think that's already a success.

[VitKoyn]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

It is because there are people that still don't know that investing in cloud mining is not profitable and most are just a ponzi scheme, most of these people are the ones who just starting to enter cryptocurrency industry, they are being attracted by the huge profit in short time that cloud mining companies promises which is not really true. There are also some people that already know that investing in this kind of scheme is not worth it but still closing their eyes about the truth it will never be profitable for them, because they are greedy to make more money or gain more cryptocurrency. We have to accept the fact that some people will never learn until they get victimized by scammers.

[Mister1k]

People we do not have knowledge about the cloud mining and how it works perfectly so far but I am mining ethereum with my 10 cards rig in my home itself. I really happy find the profit with it.

I am wondering while you are investing on cloud mining why you guys missed to check the legitimate of the project before investing on it.

I personally do not suggest anyone invest their fund on cloud mining. They initially give the free contract and then they lock the account without any notice. This what I got information.

[SyGambler]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

to be honest I can't blame all the people who still join cloud mining , a good percentage of them are totally newbies who get into this business by watching youtubers who are making thousands of dollars with these sites
they are trying to sell their follower the fake dream of passive income , and personally I fall into it 3 years ago

The problem is when members of this forums join the cloud mining , even after reading unlimited amount of negative posts

[Sony.UK]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

All high rank members not getting into the cloud mining investment because they are being part of forum for longtime and get the answers says negative about cloud mining for long time. I also stand on the same place where cloud mining is not more profitable.

I see genesis, hashflare are showing good returns to their investors. Even their cloud mining contracts are giving ROI better than other exchanges.
People who ever get involved on cloud mining they all are newbies only. Experienced will never turn towards it.

[Thanasis]

I've been on here trying to get more and more people away from cloud mining, telling them that their either getting into a scam or they're just not going to make a profit (or their money back at all) but still more and more people get into cloud mining and lose out and then complain.

Why is it that people get into cloud mining? Why can't they see the writing on the walls that they're not going to do well and they should be doing other things?

The answer is greed.

People are attracted by the offers given by the cloudmining sites so they are just blindly invest on something and lose their money totally.But people need to realize that 9/10 cloud mining sites are scams and one of my friend also victim of cloud mining scams so please control your greed and save your money from scammers.

Yes greed is the reason that many people are still investing into cloud mining site they are get attracted by the huge offers so they think that they can be a rich person soon by investing small money into the cloud mining sites but they are going to lose their money by investing on cloud mining at most of the times.

Anyone here knows legitimate cloud mining site which actually paying the investors?

[richardsNY]

Anyone here knows legitimate cloud mining site which actually paying the investors?

None, because there aren't any legitimate cloud mining services. All cloud mining services are a scheme, so it shouldn't and can't be considered legitimate, even not when they actually pay their users. Genesis Mining and HashNest as probably the main players in this industry, but I wouldn't recommend anyone to invest even a single penny in their platform. If you invest in schemes, then know that there is no way for the majority of the investors to actually profit from these platforms. The only thing that makes them continue to pay their users is when enough new capital is being invested by newbies. In other words, your capital is being used to fund previous investors, and those who entered after you are funding you.