Cloud mining still profitable?

[Hektur]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

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[Awesomus Maximus]

I don't use cloud mining and I don't know about bitdeer.com, but they all operate the same so I would suppose that this site is like the others of this type. And no they are not profitable, if you ask if you can make profit with them. The owners of such sites can be profitable, but the users certainly not. If you decide to try cloud mining, read the terms of their service very carefully.

[jeffthebaker]

Cloud mining is typically a thinly veiled ponzi scheme. If you are interested in renting hashrate to spec mine altcoins (large coins not profitable since you are paying a premium), it is best to do so through a hashrate marketplace, such as Nicehash.

With that being said, if you are interested n mining you are best off handling the operation yourself.

[jossiel]

They are no longer profitable. And most of these cloud mining sites even if they are legit and partnered with bitmain, they will take advantage of their investors and will give you a very small profit.

They are the ones that will take the profit most and just distribute to their investors the money that they borrowed for the meanwhile, and while being the holder of your money they'll take the ownership of the hardware.

[pinoyrichkids]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

Talking about cloud mining, i think it depends on what project or site i think,. for example Aws, ive read that some users are happy with their services for now, but we could not say in the long run, we know already that this types of opportunity are not long term.

[DonFacundo]

mostly cloud mining sites are scam, don't waste your time with these kind of earning sites, it is not profitable and it will not survive for long.

[D3m1r4wanti]

I'm not sure now that doing cloud mining can still provide benefits for miners because the prices continue to decline with some possibilities that the machines we rent to do cloud mining may be more expensive than the income that can be obtained in mining.

[Vit83]

The only place with working mining powers  I know is nicehash, others just want to take all your money)

[Cnut237]

No, I would say definitely avoid it. Maybe the owners can make decent money, but I doubt very much that the individual users can. The time for making easy money by mining has I think long long gone.

[Thanasis]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

How many times you want to hear that cloud mining sites scam or not worthy to invest if you want to do just go ahead and face the consequences but there is no use of trying it. Whatever the cloud mining sites are not going to make your it's they will it all your money and just gone. Go to the Google and search for cloud mining scam with bitcointalk keyword you will see lot of threads coming up.

[iqlimasyadiqa]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

it's been a long time ago that cloud mining is not a profitable type of investment. even most cloud mining only does a mathematical calculation without real mining hardware. there is even a lot of cloud mining that ends in a scam. so my advice is to avoid cloud mining and look for other jobs that are far more worth it.

[jacafbiz]

I don't know why people are bent on mining and if you want to mine buy your mining gear and if not use the money to buy into the coins directly. I am saying this because 99% of online mining end up being a scam or default in payment and most people fail to get their capital back. I made this mistakes when I joined crypto looking to mine BTC but I was scammed of my BTC and I have read stories like this over and over again.

[cabron]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

it's been a long time ago that cloud mining is not a profitable type of investment. even most cloud mining only does a mathematical calculation without real mining hardware. there is even a lot of cloud mining that ends in a scam. so my advice is to avoid cloud mining and look for other jobs that are far more worth it.

I don't remember it being profitable. ITs always been a scam so someone should at least check whether its true that his cloud mining site is partnering with Bitmain because if its true, Bitmain may have gone rouge lol. Genesis mining had been promoting that could mining for a very long time, I don't remember seeing someone testifying they got profit.

[South Park]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

They are probably lying about their partnerships so they can attract more clients and seem more legitimate, cloud mining has never being profitable and from the beginning it has been a scam, just think about this if you had miners in your home and you could obtain profits with them will you waste your time trying to sell your hash rate? No, that only adds complexity to an operation that is already profitable, so we can conclude that cloud mining is only offered by those which cannot get profits with their mining equipment or scammers.

[kingzpro]

I had invested in genesis mining and purchased a btc mining contract which they have recently deactivated due to no profits so the answer to your question is very simple that cloud mining is also struggling at the moment and there are no profits in cloud mining unless the project or premises has free access to electricity.

[Gekkoo]

In my opinion it's not since 2015, even before I joined the cryptocurrencies, I quoted 2015 because in some places on YouTube many videos from that time, for example HashOcean, I think old people know this scam project, eobot also beyond bitzfree ! Unfortunately I joined in 2017, so I could not participate in this season, I'm from the season ICO! Either way, Cloud Storage will be very profitable, just a little information.

[aervin11]

Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.

About their partnership,

They should have direct partnership with Bitmain.

I don't think it's official, bitmain is a HARDWARE Company, cloud mining is an imagination for them so it's not possible and never be. And for cloud mining to be profitable, what are the odds? Most of the experienced miners somehow tried cloud mining but all said it was a scam so believe them, they won't tell that for no reason.

[peter0425]

Bitdeer you say?

Check this thread: https://bitcointalk.org/index.php?topic=5098855.0. User already exposed how shady this company is, so just beware and be cautious.

[Klausi]

In my opinion it's not since 2015, even before I joined the cryptocurrencies, I quoted 2015 because in some places on YouTube many videos from that time, for example HashOcean, I think old people know this scam project, eobot also beyond bitzfree ! Unfortunately I joined in 2017, so I could not participate in this season, I'm from the season ICO! Either way, Cloud Storage will be very profitable, just a little information.

In my own perceptions, I still don't have concrete assurance that cloud minings will give us more profit. Most of the previous project that I've been through in terms of mining, it was really a failure. I don't know how others strategize the situation to acquire profit, and probably they're having buffers on their funds in order to survive.

[Dragonrage201]

There is a full forum devoted to mining on bitcointalk so may get better answers there. From past replies, cloud mining is generally not liked much.