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Author Topic: Why do people continue to invest in cloudmining?  (Read 182 times)
pugman
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May 11, 2018, 11:04:11 PM
 #41

It's the exact opposite. It's the perfect way to scam people, but a stupid way to 'make' money for people. That being said, in most cases all terms most of the well known cloud mining services handle have been updated to reflect the negative aspects due to the many variables that are involved. In other words, it's no longer a scam, but a gamble. Some people call it a legal scam, which I can agree with as well. People just need to understand what consequences their actions may have if they blindly invest their funds in whatever vague site or service. If they accept the involved risks, then it's all fine -- we can't stop people from investing, just provide information. It's up to them to acknowledge that or to blatantly ignore it (the latter mostly applies).
Worse part is that people actually borrow loans to invest in cloud mining sites. They don't do the math nor a good research. People think this is a scenario of high risk - high profit, while it is clearly high risk - low/no profit. People have made a lot of assumptions about crypto and they have been wrong every single time.

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