Cloud mining still profitable?

[Hermes Mercury]

I don't know these cloud mining sites because when I met the cryptocurrencies this subject was already seen as archaic and damaging to investors and beginners who with the promises of gains were easily deceived. Depending on the coin, today mining is something industrial and many companies are closing due to costs, so it is not such a simple activity and sometimes the best is the speculative mining. Cloud Mining is a lot of risk for little profit and suitability.

[kristensoto]

No one beleive in cloud mining anymore, they are scammers nowadays because no one knows when will they have money and even have to invest more money into an cloud without any potential to get profit back in the future, cloud mining is dead, we dont need it anymore when we have other ways to mine cryptos.

[Japinat]

No one beleive in cloud mining anymore, they are scammers nowadays because no one knows when will they have money and even have to invest more money into an cloud without any potential to get profit back in the future, cloud mining is dead, we dont need it anymore when we have other ways to mine cryptos.

That's correct, in the past it's very popular then turns out to be a ponzi scheme.
People nowadays just choose to mine with their rigs than invest in a cloud mining scheme where no assurance of return.

Even though there are some that are paying, but in general, their reputation is bad, so it's not good to invest with them.

[zhekinsp]

Most of the cloud mining sites were proven to be scam,all they were doing is pyramid like structure of paying but soon after their few initial payout then they are not going to get any rewards.

[Twinkledoe]

Most of the cloud mining sites were proven to be scam,all they were doing is pyramid like structure of paying but soon after their few initial payout then they are not going to get any rewards.

Cloud mining was not profitable even before. Even if you invest in a known cloud mining website, I doubt you will ever get your initial investments on the specified time. Invested also way way back but didn't get my basic funds fully. I don't believe their promises anymore. Wonder if people are still up to this business.

[dark08]

Personally I dont ever try a cloud mining because most of them are proven big scam  so I can say its not profitable from the start you invest money in their site but in a short period of time cloud mining will shutdown then in the end you lose your money.
I worried if theres a people still investing in cloud mining 🤔🤔

[PrepaidCrooks]

"Cloud mining" can still be profitable it just depends on what you're looking for.  I just invested a few days ago into FLEX Mining LTD and am super impressed. Its only 30 days old so maybe one third or one sixth through it's lifecycle.  It has a very impressive 10 day roi and returns 10% everyday forever(let's be real and just make sure you don't expect more then few months) and recoup your initial investment and then withdraw daily so you're just 100% profits which is 8 days of compounding  on your BTC. Ill post my daily payout screenshots to update everyone

****To be clear do not invest your whole bag or anything into this or (crypto in general), that you're not prepared to loose.

Here is my link to use when signing up for 3% reinvestment bonus.

https://flexmining.ltd/?ref=Prelaidcrooks

[aundroid]

Is the whole Cloud Mining in reality not simply a ponzi scheme, in which people actually do not get any Hashrate rented, instead they only get the deposits of new customers?  

[laredo7mm]

when the price of bitcoin falls deeper and deeper between the cost of paying electricity and also the mt I think it is no longer profitable and a lot of cloudmining has finally canceled operating again because it has not benefited

[shoreno]

Is the whole Cloud Mining in reality not simply a ponzi scheme, in which people actually do not get any Hashrate rented, instead they only get the deposits of new customers?  

Lol no  .  cloud mining didnt work that way   . not all  cloud mining  are scams but there are still legit left however it can take alot of time to produce a profit maybe because the difficulty in mining have risen up thru the years  . what you are refering to is networking where new joiners does not get any benefit aside from the old users , in short they work as a pyramid ponzi scheme  . 

[playboy654]

I think it is not enough for me to get the investment back when I was invested in cloud mining because the profit percentage is very much lower it then my expectation so I don't think it's will not profitable right now for this situation

[lelylely]

I am not very interested in cloud mining, I am more careful in investing so I never put it in cloud mining because it is most likely just a scam.

[Yutikas_11920]

when the price of bitcoin falls deeper and deeper between the cost of paying electricity and also the mt I think it is no longer profitable and a lot of cloudmining has finally canceled operating again because it has not benefited
well, currently the highest threat is those who have mining companies with small scale and have locations with very expensive electricity costs, so they will be confused to pay their electricity bills because the falling price of bitcoin will make many mining companies go bankrupt.

[tranquangvinh]

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.

I do not like to participate in such a program because it is often a ponzi model and it is very difficult for us to make money with it in the long run, the rate of that model collapses very high

[GreatBug]

when the price of bitcoin falls deeper and deeper between the cost of paying electricity and also the mt I think it is no longer profitable and a lot of cloudmining has finally canceled operating again because it has not benefited

At the moment, in very few places in the world, mining Bitcoins (due to the price of electricity) is profitable. In fact, most cloud mining should be closed a long time ago, and if it still works, it is definitely a ponzi scheme.

[whirlcoin]

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.

I think still now it cannot be a profitable way to mine currencies and make it profitable will not been successful right now because the winning percentage will be very low for cloud mining so the profit was very very low it will equal to our national so very low profit will be remained.

[greenclub09]

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.

I do not like to participate in such a program because it is often a ponzi model and it is very difficult for us to make money with it in the long run, the rate of that model collapses very high

it can be easily said that cloud mining is no longer a good way to earn money because it has so small profit and most of the cases we dont have any profit at all, that is scam, so we should stop using could mining, we can loss money if we invest in cloud mining.

[btcmurat]

Mining has recently started to lose popularity. Because the price of Bitcoin fell too much. I don't know how Cloud Mining will happen in the future, but Lightning Network can come to good places.

[veznata]

cloud mining is not scam if you use the proven companies that offer these services BUT you will lose money. in case BTC rises drastically in value you will make a profit but it will be much much much lower if you just buy it. Holding today is the best option waiting for expected bullrun.

[MCobian]

I can assure you that cloud mining is no longer profitable to work on, because there are so many cloud mining sites that have proven scams.
So investing in cloud mining should be avoided, I even lost more than $ 1000 because of investing in cloud mining. Most cloud mining uses
a ponzi scheme method, offering substantial rewards. So my advice is never to try investing in cloud mining if you don't want to lose the capital
you have.