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Author Topic: Are there any cloud mining services that aren't scams?  (Read 70 times)
o48o
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January 27, 2019, 10:38:18 PM
 #1

And if there is, what are currently the most liable / profitable ones? Also if you have personal experiences of the ones that are just crap, please tell.


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January 28, 2019, 09:00:06 AM
Merited by mocacinno (1), o48o (1)
 #2

All the cloud mining sites were either scam or not profitable so just give up this idea to invest on any cloud mining sites and already there are lot of threads regarding this.


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January 28, 2019, 09:05:14 AM
Merited by o48o (1)
 #3

Just think about it... Let's imagine you have an ASIC farm, and you have 2 options:

1) mine, hodl or exchange and pocket 100% of the income (aka running a mining farm)
OR
2) sell contracts, mine, substract some maintenance and divide the income to the people that bought contracts (aka running a cloudmining company)

There are only 2 reasons for picking option 2:
1) The amount of income of contracts and maintenance fees is higher than the income of mining directly. In other words, your "investors" won't make any money
2) You don't want to risk anything, so you cover all your risk by selling shares of your equipment and make your users pay maintenance cost. In this case, your users *can* make a profit, but they carry 100% of the risks for a very small part of the profit.

Neither of these situations sound good to me...

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January 28, 2019, 10:02:37 AM
Merited by o48o (1)
 #4

As they said, cloud mining isn't worth to invest with any penny you have there. If you plan to invest to a cloud mining, you should start your own farm alone and take the risk personally rather than shoulder the expenses of running a farm as an investor of a cloud mining company.

Forget about cloud mining IMO and if you have a decent amount to buy GPU's or ASIC's then you can risk it as long as it's an affordable amount to lose.

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St4yInTh3D4rk
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January 28, 2019, 06:59:20 PM
 #5

As they said, cloud mining isn't worth to invest with any penny you have there. If you plan to invest to a cloud mining, you should start your own farm alone and take the risk personally rather than shoulder the expenses of running a farm as an investor of a cloud mining company.

Forget about cloud mining IMO and if you have a decent amount to buy GPU's or ASIC's then you can risk it as long as it's an affordable amount to lose.
Building a mining farm buy on our own is not also a ad idea now due to the decline of crypto currency prices heaviliy.If OP planned to hold the mined coins for longer time then he may try it but not a wise decision now because ot will eat lot of capital for running cost.SO better keep holding the funds in crypto with the capital used to invest for mining process.

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