Cloud mining still profitable?

[Lakai01]

Cloud mining was never and will never be profitable. Just think about it, why would someone offer hardware for rent if he or she would be able to make a lot of money out of it? Its better to invest the amount of money directly into eg. BTC instead of invest it into cloud mining.

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[Severniti]

I think it's safer now to join cloud mining because the prices are so low now. If they bought equipment now, they should be profitable in the next few years.
But older ones not so.
I would rather buy my own equipment and mine coins myself rather than paying a cloud service.

[gabmen]

At this point it's hardly even profitable for those that own mining rigs so obviously cloud mining profits would be quite neglectable in a market like this. I agree that it hasn't been that profitable when the market was up, what more now.

[hdclover]

There is nothing like cloud mining. Most websites lure users to invest in their site. You may think that you are getting mining hardware virtually but it is not true. It is a well planned Ponzi scheme. Once the new money stops entering, they will run away with your money. Moreover it is not possible if the market crashes.

[pungopete468]

The cost for electricity and also income from minning is not suitable and in my opinion it is better not to do the minning that just throws away our money. better focus on our work and also increase income

[xuan87]

Cloud mining is never profitable for the users, cloud mining is one of the scam that being avoid by a lot of people, usually cloud mining got a sweet promise in the beginning,but it's like a time bomb, it just wait for the owner to run away, it's best to avoid cloud mining

[Krabat]

In place of the one who asked this question I would stay away from all such services and sites that offer cloud mining services, most of them can be quite dangerous in terms of the prospects of losing your money, cloud mining has always been a risky business. And all the more it is relevant in the present time.

[#Bentley]

It seems to me that cloud mining is a hoax, of course, there may be some real projects that allow you to earn money on it, but I haven’t met such projects yet, but I meet a lot of negative feedback from people who have lost their money on this. Therefore, in general, I have a rather negative attitude to this.

[damberg]

I would be very careful investing in cloud mining nowadays. Regardless of alleged partnerships these sites are frequently ponzi schemes without any real business behind.

[Distinctin]

I would be very careful investing in cloud mining nowadays. Regardless of alleged partnerships these sites are frequently ponzi schemes without any real business behind.

Cloud mining sites are just a joke for me,  nobody's wants to believe it cause in many cases that you can't get your money from them, it happen since before and how about now?  It is mostly the same,  it is totally a lie. Their good feedbacks are scripted and it make to attract people but we are all aware of that, it couldn't victimized people again.

[Hektur]

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.

Oh, thank you very much for very helpful comments. I thought that still it is more profitable than buying new hardware and paying the bill. But, if mining is not profitable for anyone, who is mining? Big companies are also not profitable.

[akram143]

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.

Oh, thank you very much for very helpful comments. I thought that still it is more profitable than buying new hardware and paying the bill. But, if mining is not profitable for anyone, who is mining? Big companies are also not profitable.

If you want to do that cloud mining for your experience purpose then you can definitely try it but the fact will be cloud mining is not be profitable like before so doing some other business will be profitable.

[xenomorphe1]

Cloud mining is not profitable actually. It was profitable if you bought a contract in the beginning or before 2017.
Now, can only make little money. I don't know how much it costs now, but at the end of 2017, the price was exagerated.

[romero121]

Cloud mining isn't that profitable as the price of bitcoin was found much low compared to the previous years peak value. Experiencing a big growth in ethereum I too invested into mining, and now I was unable to pay for the power consumption with the mined ethereum. When this is the case with mining I don't find cloud mining to be profiting.

[evanescence]

Cloud mining was never all that profitable.
If you paid for cloud mining before bull makrets, you made profit, but still less profit than you would have made if you just bought the coin you're mining in the first place.

[Sir Legend]

I think that 99% cloud mining is a scam, I have left cloud mining since I was hit by a big scam in 2016, when more than 3 btc was lost even though I bought the bitcoin price at that time around $ 150, if I hold it up until now I certainly get big profit.

[Dragonrage201]

Even mining at home is not easy as coin difficulty and profitability keeps changing. Cloud mining is even less profitable and best avoided.

[rosmerius]

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.

Oh, thank you very much for very helpful comments. I thought that still it is more profitable than buying new hardware and paying the bill. But, if mining is not profitable for anyone, who is mining? Big companies are also not profitable.

Current cloud mining does not seem to be detrimental, but you are still optimistic to do it if it makes you profitable, go ahead. For me, cloud mining requires a lot of money and is not necessarily able to return capital.

[Royal Jelly]

I've heard cloud mining, but most of them get losses and scams, so I don't want to try it even though there are so tempting offers. I only studied but was unable to join because Beum had the expertise and was still afraid to lose.

[Altero]

I've heard cloud mining, but most of them get losses and scams, so I don't want to try it even though there are so tempting offers. I only studied but was unable to join because Beum had the expertise and was still afraid to lose.

Exactly you see and hear, it never give us assurance for profit instead it makes people to be trap by scammers. Imagine, how could they generate money without even doing anything, if they'll pay for the miners where it came from? It could be better to stay away from these, it could be good spending our time into trading or joining bounties.