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Author Topic: Another proof that cloud mining is a scam  (Read 1177 times)
Baofeng (OP)
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March 13, 2019, 08:05:19 PM
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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

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March 13, 2019, 08:33:53 PM
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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
You cant really blame yet there are still noobs out there who do feed these scammers.Due to lack of knowledge and the nature of greediness
on making money which do leads with wrong decisions on putting money with these cloud mining sites.Its part of the learning process  Cheesy

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March 13, 2019, 08:51:39 PM
 #3

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
You cant really blame yet there are still noobs out there who do feed these scammers.Due to lack of knowledge and the nature of greediness
on making money which do leads with wrong decisions on putting money with these cloud mining sites.Its part of the learning process  Cheesy
Lack of knowledge, yes, that was most people got scammed. The worst here is the reputation of the entire cryptocurrency, once a noob had scammed they think that the whole crypto also was a scam and the main here is Bitcoin. And tell their friends that it is scam without knowing them the only source of scam is where they invested not the crypto. Frankly speaking, people are easy to fool when it comes to higher earnings.
Well, we are so lucky here that we are fully oriented regarding that matter and avoid possible scam.

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March 13, 2019, 09:00:35 PM
 #4

Well why you are able to know the truth is because of your level of knowledge but believe you me that there are still a whole lot of forks who still believe in that scam of a thing call cloud mining and are still willing to invest in it.
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March 13, 2019, 09:05:28 PM
 #5

Well why you are able to know the truth is because of your level of knowledge but believe you me that there are still a whole lot of forks who still believe in that scam of a thing call cloud mining and are still willing to invest in it.
No pun intended! - “ lot of forks “
Sorry couldn’t help myself !
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March 13, 2019, 09:10:44 PM
 #6

Over time I believe people will be orientated about the real truth behind all these cloud mining sites. Unfortunately noobs will always fall for this and the greedy ones except for those that make good research before investing. People are just psyched up about these online opportunities anytime they hear of it  so they won’t even bother to make any research about till there money is gone. That’s another way to learn. It’s called a learning process. But it’s always good to avoid these and step on shoulders of experienced ones in the game so they will guide against all this cheap ways of losing money.
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March 13, 2019, 09:17:31 PM
 #7

Over time I believe people will be orientated about the real truth behind all these cloud mining sites. Unfortunately noobs will always fall for this and the greedy ones except for those that make good research before investing. People are just psyched up about these online opportunities anytime they hear of it  so they won’t even bother to make any research about till there money is gone. That’s another way to learn. It’s called a learning process. But it’s always good to avoid these and step on shoulders of experienced ones in the game so they will guide against all this cheap ways of losing money.
I do hope so that they will really learn from the past mistakes of other crypto investors, otherwise this will be cyclical. Maybe because of greed or possibility there are a lot of people who enter the market and doesn't really understand who everything works and they just think that it's easy to earn bitcoin through investing in cloud mining. If it's easy to earn through mining, I don't think that those people behind will share their 'hashing power' as par of mining pools.









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March 13, 2019, 09:20:12 PM
 #8

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

There are always "new ones" so that is usual to see. It will not end as many people likes passive income without doing nothing.

If basic discouragement, advices and recommendations isn't enough for them to understand the risks they are taking then you have no choice but to let them see and experienced the output by themselves.

No way we can just changed their mindset easily because their precious common sense were built the other way around. Luckily, not all newbies are not like that.

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March 13, 2019, 09:22:40 PM
 #9

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
I don't think that you should blame newbies about that, it's a lack of knowledge. The time when will they lose their money they will learn from this mistake. I was a newbie before and I invested in some cloud mining sites and I was scammed, I learned that since 2 years to not invest in this kind of sites, It was really a bad experience for me and I know a lot people lost more money than me, It's really shame.
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March 13, 2019, 09:45:42 PM
 #10

They don't just promise too good to be true income they also make a good sales talk. They would show fake proofs of their daily income and try to blind greedy people. I also used to wonder if these people posting do really get the same income or they are just performing the task of recruiting people to believe in their lies just because they are getting paid for referring people.

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March 13, 2019, 10:25:16 PM
 #11

Nuvoo? Never heard of it but it sounds already a little bit scammy.  Cheesy
The idea to offer people to participate in mining because their electricity cost in their home country is too high to be profitable is a good idea in general. The problem of cloudminers is that they are not transparent. If you ask them about their (average) electricity cost, most of them will refuse to tell it. That's shady as fuck and they can determine how much they pay out and keep the rest of the mining revenue to themselves. Nobody would be able to verify if the payouts are fair or the company took the biggest part.
And of course, there are also those "cloudminers" offering returns of more than 2% per day. Everyone who knows at least a little bit how mining business is making profits (it's not much anymore since September / October) would notice a big red flag and don't invest because it's just a ponzi.

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March 13, 2019, 10:29:40 PM
 #12

I have never believed in cloud mining because i have read on several websites that they are full of scams. All they do is to get the mining power of several people and use it to their own benefit without distributing the rewards back to the individual miners. Most of them shut down after operating for a while. if you want to get into mining then it would be better to to set up your own mining rig or run a masternode instead.

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March 13, 2019, 10:38:40 PM
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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..



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March 14, 2019, 01:23:09 AM
 #14

After a protracted bearish market that started in 2018, and we are still swimming the tides, some of the friends in the space that we all ran away from deadly Ponzi to found solace in bitcoin and cryptocurrency, have most part gone back to Ponzi scheme, citing their losses in bitcoin market and justifying that something must kill a man. You really can't blame people for taking some certain actions even when they understand it will have a future negative effect, they just want an easy way out.
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March 14, 2019, 01:41:10 AM
 #15

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

well, at all times there are newcomers who seek out ways to "earn bitcoin" because they still think bitcoin is something magical on the internet that they have to get it through weird ways instead of buying or working for it for real!
and when they search for stuff like that, they find things such as cloudmining which will then promise them all kinds of things and many believe them.
the worst part is that cloud mining is just one of many things they fall for! the biggest scam has been the ICOs that have been taking victims constantly. of course this year we were lucky enough to witness their death.

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CryptoBry
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March 14, 2019, 03:06:55 AM
 #16



Scams can be found in all type and kind of industry hell that also includes even many religious organizations who are supposed to be exemplary in terms of honesty and being kind to humanity. Scams happened because there are people who are very creative in fooling other people and because there are many people who became willing victims due to many factors like lack of knowledge and that universal desire to make money without doing anything laborious. Scammers are known to be good in presenting the colorful rainbows that promises a great future ahead only to realize later that they are being lead into the hell. We have to be careful the only problem here is that the market is now getting bigger and bigger everyday so scammers can always find the captured market they are desiring.
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March 14, 2019, 03:07:37 AM
 #17

I can't blame the newbies though for keep on falling with such cloud mining scams. There's many people who doesn't have an idea to what cloud mining really are and having the same thought that this how people can make money with cryptocurrency. As they come to the community, we need to keep on pushing these reminders as well even its annoying for some who are already aware of it. We need to keep that exposure that cloud mining sites will just scam their money and if they say a 'legit' one, it will barely give them reward.

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March 14, 2019, 03:12:52 AM
 #18

I'm thankful for bitcointalk even to begin. Like the Beginners Section has a lot of useful information towards how to interact with activities that are surrounded by cryptocurrencies etc. I have read there that it is a scam and faucets are a waste of time, it has helped me towards having a  better experience and not getting me scammed. That leaves now how people educate themselves about projects that are probably scam, and maybe those who are legitimate at first then run off with your money, who knows.

I think it's not ideal for people who own mining rigs and lend them to you and not profit from it. Madness.

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March 14, 2019, 03:33:47 AM
 #19

Quote

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Oh well, there's till people who's hoping that in a short span of time they will be able to generate profits, they are gambling with fate and they are
trying to go first so if in case that they are able to be lucky they will gain without any hard work.

We can never control people's believes, things like this will continue to exist as long as they can see people who will willing to participate.
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March 14, 2019, 03:59:20 AM
 #20

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.
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March 14, 2019, 04:24:26 AM
 #21

It's just that people are still looking for easy ways to get something from their initial investment without really looking into further details, hence the continuous prosperity of such scam sites. A lot of us know so well that cloud mining is just another thing of the past, and is just the facade of many ponzi schemes of today. A lot of 'cloud mining' sites pay only for the first few weeks and just disappears without a trace later on, and this might be the case on yet another ponzi scheme we have here on the article.

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March 14, 2019, 04:30:31 AM
 #22

Easy money, that's what people always wanted to have. They don't research at all, they just listen to the sugar coated promises that money will be returned in with interest and all they have to do is sit back, relax and wait for pay day. With the rising cost of maintenance and power bills, mining is not feasible, what more if its cloud mining.
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March 14, 2019, 05:53:00 AM
 #23

most of them are new people who know cryptocurrency, because honestly I first went to the world of cryptocurrency to trust cloud mining, and spent full time there.
but I am sure, as time goes by, they will also realize that it is a waste of time.

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March 14, 2019, 06:03:13 AM
 #24

Out there, a lot of people who think bitcoin is easiest way to earn money. And they are who still believe cloud mining is good resources to get a lot of bitcoin without work hard. And it is good for target of a scammers.

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March 14, 2019, 06:16:42 AM
 #25

There will be many people who will register on the cloud mining especially for new people who don't learn much about cryptocurrency. Their friends invite them because their friend can give proof of the payment. I don't think that they will join in cloud mining if they have true information that cloud mining will not give them any profit. People still want to make money by instant, and they don't want to learn anything.

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March 14, 2019, 06:43:20 AM
 #26

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

Tell that to the countless members here who have been scammed by those cloud mining sites. Did you go around the scam accusations board or even in any other boards and see people bitching around and saying that they have been scammed by this and that cloud mining sites?

And have you noticed the advised of most posters in this thread? Of all the posters around, you are the only one who has a different mindset. I don't know who you are referring to when you said 'people have raised so much money with cloud mining'Huh. Since I joined the forum in 2017, other higher rank members are already calling it a scam, so I'm still confused with what you said. Roll Eyes

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March 14, 2019, 06:58:26 AM
 #27

Lol, cloud mining is nothing but a counter that changes some numbers, making you think you have mined something, somewhere in "cloud". I agree that people should no longer believe in cloud stories.

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March 14, 2019, 07:22:12 AM
Merited by Jating (1)
 #28

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Thats why we need to expand our effort in telling people like this,we cannot blame them for being a victim as  cloud mining really promise huge profit than the other area of profiteering here

I almost entered this mining field when a friend of mine told me about this issue and lucky that instead of cloud mining i bought cryptocurrency and tokens for long term holding

Now atleast i can still see my capital(even though they dropped from upto 50% but still chances are i can profit huge in future
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March 14, 2019, 08:05:14 AM
 #29

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Thats why we need to expand our effort in telling people like this,we cannot blame them for being a victim as  cloud mining really promise huge profit than the other area of profiteering here

I almost entered this mining field when a friend of mine told me about this issue and lucky that instead of cloud mining i bought cryptocurrency and tokens for long term holding

Now atleast i can still see my capital(even though they dropped from upto 50% but still chances are i can profit huge in future

I actually had the same experienced with you. I have friends who suddenly woke up one day and invite me to join on those cloud minings in 2017, lol. The thing is that I'm not aware that they're also into crypto so I was caught by surprised and I told them that majority of them are scams.

So they didn't believed in me and later I found out that they have been scammed and come back to me saying that they should have listened to me.  Grin

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March 14, 2019, 08:59:18 AM
 #30

Lol, cloud mining is nothing but a counter that changes some numbers, making you think you have mined something, somewhere in "cloud". I agree that people should no longer believe in cloud stories.

yes that is the definition of  a cloud mining . you are mining via others hardware  . they will only provide you counters or numbers of the total coins that your rented miner have mined . cloud mining is really profitable before when the time that bitcoin is not yet popular because the mining difficulty is not yet hard that time  . now most of the cloud mining sites are only scam  so beware   .  even mining on your own hardware is not really profitable  .  why cant we just invest or buy a bitcoin ?  that is more profitable imo  .
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March 14, 2019, 09:04:53 AM
 #31

When it comes to bitcoin and other cryptocurrencies, every beginner will come with the focus of earning good which is the primary focus. Further only people get to know about the innovative technology and the relative factors associated with it. The target of the scammers were the newcomers, when they were assured of huge return on the investments they easily fall to them. We cannot indicate the newcomers were the one who gets caught into the traps. There are even more people who out of greed get caught into the traps. In this regard unlike the profiting it is good to analyze to the highest extent possible before making an investment, because with cryptocurrency getting back investments is not possible once you have made it.

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March 14, 2019, 09:29:10 AM
 #32

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Because they are attracted with the profit and with those sweet words on their website and if you are researching or do not how to properly invest, you are going to fall for this kind of program, so don't be surprised there are still people who get victimized, if there are none anymore, they will take down the site.

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March 14, 2019, 01:40:35 PM
 #33

It's 2019 but there are newbies, when I was new to crypto space I also thought to buy contracts and make 'easy money'. Thankfully, I didn't invest as I didn't have any money that time, not having money also prevents you from losses sometimes.

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March 14, 2019, 02:26:03 PM
 #34

it is simply because some people refuse to see the warnings no matter how many of them are and sometimes even when they are too obvious. the biggest and most obvious case of this is the recent ICO mania where lots of people even old members who have been around, despite knowing how scam and Ponzi like they are, they still invested in them.
compared to ICOs that have no product, investing in a cloud mining scam makes perfect sense!!!

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March 14, 2019, 03:40:59 PM
 #35

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

Not all of them are a scam. In fact, some of them are pretty good to make money when the prices are right and you have the amount to invest.

Now, with those contracts you are the one taking the risk. And if the price goes way down you will lose money, will the "cloud" mining companies are totally and completely safe. So in that aspect it is arguable.
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March 14, 2019, 03:48:42 PM
 #36

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Feel sorry but irritated at the same time. We know that a lot of us really wanted to earn as easy as possible, to the point that some are so desperate. I'm irritated in the fact that most of these people who's engaging in a such activity without doing some research or so. We can't say that it's them not blame, but it's carelessness, or idiocy. Beginners should not be so eager to trust immediately, it can't be reason they are still to this. It's a MUST for them to know what they are engaging with.
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March 14, 2019, 03:57:35 PM
 #37

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
You cant really blame yet there are still noobs out there who do feed these scammers.Due to lack of knowledge and the nature of greediness
on making money which do leads with wrong decisions on putting money with these cloud mining sites.Its part of the learning process  Cheesy

This is means that not all have a knowledge to cyptocurrency  because they dont know  the legitto scam its obvious that cloud mining is big scam and those people that investing in this mining are noob or need to learn more about cryptocurrency.
Well we cannot blame those people that attracting to this scam method because cloud mining offering a good return but result to nothing hehehe.

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March 14, 2019, 04:16:18 PM
 #38

Ok,sorry i just found this while researching cloud mining myself? why is it a scam in your opinion? is there actual mining happening or is it a total scam? If there is indeed actual mining happening, are you referring to it as a scam because of the fact that the main miner basically uses the user to hedge his currency risk?

thx!
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March 14, 2019, 04:45:50 PM
 #39

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
We cant all know what's going on in the crypto sphere and this is one of the reason why this forum were created in other create an awareness of what's happening in the crypto world so people who are not a member of this forum will definitely lack some knowledge. However, most of the newbie of this days sees crypto currency as a mean to earn simultaneously income.

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March 14, 2019, 05:07:32 PM
 #40

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

Not all of them are a scam. In fact, some of them are pretty good to make money when the prices are right and you have the amount to invest.

Now, with those contracts you are the one taking the risk. And if the price goes way down you will lose money, will the "cloud" mining companies are totally and completely safe. So in that aspect it is arguable.
Have you tasted it? if then, can you put one of the site which you means?

I just wanna tell you something about cloud mining if you don't know yet.

 1. ▁ ▂ ▄ ▅ ▆  Cloudmining 101 (ponzi risk assessment)  ▆ ▅ ▄ ▂ ▁
 2. BITCOIN CLOUD MINING IS A SCAM (noob word!)
 3. Lets STOP the Cloud Mining scammers HERE
 4. Advice for new users regarding CLOUD MINING
 5. [SCAM] Cloud mining website hashflare.io using fake reviews

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March 14, 2019, 05:22:37 PM
 #41

Its not really a scam but the likelihood of making a profit is slim.  A scam would be more like them just stealing your money and never doing anything.  People will always fall for these advertisements as much as you want to prevent them from getting sucked in.
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March 14, 2019, 07:51:51 PM
 #42

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

Not all of them are a scam. In fact, some of them are pretty good to make money when the prices are right and you have the amount to invest.

Now, with those contracts you are the one taking the risk. And if the price goes way down you will lose money, will the "cloud" mining companies are totally and completely safe. So in that aspect it is arguable.
Have you tasted it? if then, can you put one of the site which you means?

I just wanna tell you something about cloud mining if you don't know yet.

 1. ▁ ▂ ▄ ▅ ▆  Cloudmining 101 (ponzi risk assessment)  ▆ ▅ ▄ ▂ ▁
 2. BITCOIN CLOUD MINING IS A SCAM (noob word!)
 3. Lets STOP the Cloud Mining scammers HERE
 4. Advice for new users regarding CLOUD MINING
 5. [SCAM] Cloud mining website hashflare.io using fake reviews


You're both right I mean you and xWolfx because there are actually some long existing cloud mining site which are still active till day but they have also once scammed their user. Therefore, I will never recommend cloud mining to anyone because 99% of the company that claim to be cloud mining scammed their users.

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March 14, 2019, 07:55:26 PM
 #43

How hard is it for them to ask for your BTC address and send it manually? I guess they have zero BTC in storage.
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March 14, 2019, 08:53:29 PM
 #44

this is a powerful way to trick beginners to get bitcoin. everyone believes it is a cheap business with only internet capital.
they are easily cheated with extra income.
and the most frequently asked thing is "can it be withdrawl?"

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March 15, 2019, 03:23:01 AM
 #45

Never been attracted even before with cloud mining. People nowadays were should really be anxious about something like this. After reading the conversation between the victim and the nuvoo, I absoultely sure that they were scam. She purchased a lifetime contract and nuvoo did not stop it and never bring back the btc that was mined.

This will be a lesson learned for everyone who easily falls for this kind of fraud. Beware!
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March 15, 2019, 09:05:01 AM
 #46

Maybe they have never experienced losing their money. And also most people who believe are those who still don't understand the world of crypto good or bad
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March 15, 2019, 09:28:48 AM
 #47

Maybe they have never experienced losing their money. And also most people who believe are those who still don't understand the world of crypto good or bad

Not all who invest in cloud mining sites are noob  .  i witness alot of experienced and pro traders that also invest on cloud mining because they wanted to earn extra income .  others can earn while other lost but there is no problem with it  .  they are aware that all types of investment do have a risk  . thats why we have a golden rule  which is " invest only what  you can afford to loose "

Furthermore , not all cloud mining sites are  scams  . there are also legit but they take a lot of time before you can recover your roi  .
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March 15, 2019, 09:32:24 AM
 #48

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

It is scam tetyulfania. It is very similar to pyramid scheme where only the first people who invest will benefit the most. Once the scammers meet certain requirements, they will stop approving withdrawals and would just run away with the money from the newest investors. There is no other way for cloud mining to profit that much but through referrals.
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March 15, 2019, 10:57:40 AM
 #49

Its not really a scam but the likelihood of making a profit is slim.  A scam would be more like them just stealing your money and never doing anything.  People will always fall for these advertisements as much as you want to prevent them from getting sucked in.
Online minning does not provide a big advantage to the owner if you they a real system using miner tools, so why would they prefer to use the ponzi system because they do not have to bother maintenance mining tools, and certainly much more profitable, because they can scam at any time. so be careful..
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March 16, 2019, 03:30:18 PM
 #50

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
I am seriously not sure how people still invest in cloud mining sites as they can simply calculate the returns before investing and how long it will take to reach a break out profit, if they find it too hard to calculate there is no point in advising them either as they will not understand the basics, they will learn the hard way instead, cloud mining is not a wise investment but there is nothing wrong in having some fun, you could purchase the coins with that money instead of wasting it.
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March 16, 2019, 11:15:05 PM
 #51

Eh, some businesses in the niche are scams, agreed. But most are simply good businesses for the owners, bad for the clients - but nobody is forced to become their client, after all.

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March 16, 2019, 11:19:02 PM
 #52

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Honestly I think we have more than enough proof needed to declare cloud mining a scam. There have been a lot of projects existing that tried to prove cloud mining could actually be a profitable business for everyone but unfortunately all of them failed even though they were online and active on the market for a few years. This only proves us that cloud mining is one of the biggest scams in cryptocurrency world and they should no be trusted
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March 16, 2019, 11:44:41 PM
 #53

I have so many reports about how most cloud mining platforms are scams. I don't actually know why some people still believe in cloud mining upon all the numerous warnings that have been given by some community members. It is better in my opinion to go into day trading other than mining of cryptocurrencies.

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March 16, 2019, 11:51:32 PM
 #54

If you are an old timer in crypto, you won't believe any promises of these cloud mining services. They are the only one gaining from this platform. Have you ever heard a person getting his ROI from this kind of investment with the time period they promised? Or have you ever known a person invested in this that really got his initial investments?
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March 17, 2019, 12:53:01 AM
 #55

yes. some cloud mining can give us profit from our investment. Most of the Cloud Mining service providers pay their old customers from new customer contracts that come to join. In general, a concept like this is the Ponzi concept. If the provider of the site provider is hiding behind Whois privatization (WhoisGuard), or does not provide an identity, it needs to be watched out.

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March 17, 2019, 05:06:35 AM
 #56

Cloud mining was good 1-2 year before and in old time but now for sure cloud mining is bad for all investors ,it is good only for people which get money from referral systems but then that people are liars which will be forgotten and be dissapointed later when their referrals lose so then they will build harder team in some new normal project.

the thing about scams and ponzi schemes is that their failure (the time when they run away) has no clear deadline so you can't say it was 1-2 years before and it is not shorter or something like that.
it all depends on how many people they can scam and for how long. a ponzi scheme can run for 5 minutes before it goes belly up or it can go on for years while  scamming thousands of people.

and the most important thing to remember is that you can never beat the system. so don't even try to do it.

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March 17, 2019, 03:42:06 PM
 #57

The statement that cloud mining is scam doesn't need any more proofs, it's as easy as abc to understand that it's scam. At first imagine, why will someone mine for you while they can mine for themselves? If it's hard to understand for you, then imagine this: Why will someone print money for you while they can print it for themselves?
Cloud mining companies get great profit, you pay fixed money for hashrates, they get it, mine, charge you electricity and equipment's fees and finally you never ROI. Everyone works for their own benefit, not for your.

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March 17, 2019, 06:02:35 PM
 #58

in my opinion many who think to produce bitcoin with cloud mining is very easy and fast. Especially for beginners who are new to the world of bitcoin who want to get rich quick. Grin including me who joined cloud mining in 2017, it turns out cloud mining is just a scammer.
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March 17, 2019, 06:19:10 PM
 #59

in my opinion many who think to produce bitcoin with cloud mining is very easy and fast. Especially for beginners who are new to the world of bitcoin who want to get rich quick. Grin including me who joined cloud mining in 2017, it turns out cloud mining is just a scammer.
We cannot deny that mining isn't possible through cloud. What's been done through hardware mining is possible through cloud. But, through hardware based mining we are supposed to pay electricity charges and on initial investment. With cloud it is not possible to provide with low investment and regular spending. People lack in this understanding and gets scammed.

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March 20, 2019, 04:01:01 AM
 #60

Quote

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Actually it was not scam, but when the mining fee got higher and the price of bitcoin getting down.. So yeah..
I got like 3 times of my investment back in 2017 on hashflare.
But now, every cloud mining are almost scam  Sad
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March 20, 2019, 04:16:42 AM
 #61

It's nothing new. You will find it all the time everywhere. Scammers are always there. We are aged in this market and that's why we will not be deceived. But new comers in crypto space are the victims. They don't know anything about the situation and that's why they fall in the trap of this scammer.
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March 20, 2019, 04:39:21 AM
 #62


I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

some of today's dominant bitcoin rose umpteen percent in coinmarketcap this marks the entry of some investors for funds to bitcoin

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March 20, 2019, 10:24:16 AM
 #63

Most of them make money by tricking other people. example: like a cloud mining maker, by giving a return on capital and greater profits.
I hope no one has been fooled this year by the cloud mining site. because they are fake websites that can endanger crypto users.
especially for beginners, because you are very quickly caught up in their seduction. Remember that in the crypto world there are no rich people quickly.
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March 20, 2019, 11:14:15 AM
 #64

Quote

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Well, its 2019 and people still don't know what cryptocurrency is. Not everyone knows Bitcoin or Crypto Currency that's why they fall for such scam. If everyone knows this forum then they will get educated about cloud mining.
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March 20, 2019, 11:17:44 AM
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 #65

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Well, its 2019 and people still don't know what cryptocurrency is. Not everyone knows Bitcoin or Crypto Currency that's why they fall for such scam. If everyone knows this forum then they will get educated about cloud mining.
There are users who have been making an earning out of cloud mining. It got termed to be a scam when they started to promote with a profit that isn't possible to be achieved. During the early days of cloud mining the difficulty of the network is low and mining happens big. Now the scenario is different and the same makes almost everyone of the cloud mining a scam.

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March 20, 2019, 12:29:29 PM
 #66

When I'm starting to learn crypto, I have heard this cloud mining and I tried it but I didn't invest on it using fiat money. I got my investment in cloud mining thru the crypto faucets. After a month or two, I realize that its not profitable so I quit doing it and lucky for me I didn't invest on it using fiat currency.

I know that most of the cloud mining sites right now are considered a scam but there is one app (not site) that offers cloud mining to its users and that is the Electroneum app. I'm not advertising it but I know that this app isn't a scam and they are paying for real.

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March 20, 2019, 01:26:54 PM
 #67

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Well, its 2019 and people still don't know what cryptocurrency is. Not everyone knows Bitcoin or Crypto Currency that's why they fall for such scam. If everyone knows this forum then they will get educated about cloud mining.
There are users who have been making an earning out of cloud mining. It got termed to be a scam when they started to promote with a profit that isn't possible to be achieved. During the early days of cloud mining the difficulty of the network is low and mining happens big. Now the scenario is different and the same makes almost everyone of the cloud mining a scam.

I become a victim in such once buddy. I was tried to use one cloud mining site and it showed very fast move in mining balance and they asked me some fees amount in BTC to withdraw that funds from the mining wallet but finally I lost the fund only from there.

I was trying to reach them via email or other option but it is not at all helped me.
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March 20, 2019, 01:39:54 PM
 #68

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

Not all of them are a scam. In fact, some of them are pretty good to make money when the prices are right and you have the amount to invest.

Now, with those contracts you are the one taking the risk. And if the price goes way down you will lose money, will the "cloud" mining companies are totally and completely safe. So in that aspect it is arguable.

as you said, it is really a aspect arguable if we are talking about cloud mining that have been able to show their mining equipment and when I say something arguable  I am talking about the contracts Vs the profits that supposedly these contracts should offer VS the terms of service that these cloud mining impose on their customers. This TOS of cloud mining are big aberration and prejudice people and the contracts do not provide any advantage to people. Now comes a question: why people invest in these legitimate cloud mining companies? My assumption is because people do not know or are afraid to trade or invest in ICOs or Hold because they are afraid of having too many losses. while legitimate cloud mining is promising them guaranteed returns (something that time has proven not to happen)

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March 20, 2019, 01:59:38 PM
 #69

Quote

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Actually it was not scam, but when the mining fee got higher and the price of bitcoin getting down.. So yeah..
I got like 3 times of my investment back in 2017 on hashflare.
But now, every cloud mining are almost scam  Sad

Probably the year 2017 was very memorable to everyone because obviously, we make tons of money because of the massive bull-run and then cloud mining became hit as well. So that time those cloud mining are already running a scam, but due to the conditions of the market, it was not evident. But as time goes by plus the market condition worsen, those cloud mining was unmasked and evidently, they are exposed as purely scams and ponzi schemes.

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March 20, 2019, 03:49:34 PM
 #70

 I personally didn't get any site of cloud mining that are paying .That's why i still don't believe in cloud mining .I think its not possible to mine mine being offline .So that's why i think the site are being scam .You just proof another site that's scam.

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March 20, 2019, 04:12:42 PM
 #71

I have never believed in cloud mining because i have read on several websites that they are full of scams. All they do is to get the mining power of several people and use it to their own benefit without distributing the rewards back to the individual miners. Most of them shut down after operating for a while. if you want to get into mining then it would be better to to set up your own mining rig or run a masternode instead.
I think you didn’t know already the flow of the cloud mining. That’s why you think that all cloud mining is full of scam. Cloud mining is the best way on how you will earn bitcoin in the cryptocurrency community. You say that cloud mining is scam because sometimes if it has an investment you think it is scam and not paying. Cloud mining needed an investment in order to gain you more profit but it is not scam. There is a free mining site that it is legitimate like btconline and ethonline. I hope this information helps you.
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March 21, 2019, 01:34:12 AM
 #72

When I started in bitcoin, cloud mining and hyip are the things that attract me the most when I was still looking for an easy way to make money. It was all scams and some will even try to make a reputation for a year to attract more but in the end they will also disappear like the others. You don't have any assurance on those cloud minings and it's a very risky transaction right from the start.
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March 21, 2019, 02:36:34 AM
 #73

When I started in bitcoin, cloud mining and hyip are the things that attract me the most when I was still looking for an easy way to make money. It was all scams and some will even try to make a reputation for a year to attract more but in the end they will also disappear like the others. You don't have any assurance on those cloud minings and it's a very risky transaction right from the start.
I do even believe that most people do able to experience to invest on Hyips and ponzis and being scammed with it before they do able to learn about crypto fully.

There no need for some proofs yet these cloud mining do exist no matter what because of greedy and noob investors out there who do believe with easy money.

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March 21, 2019, 03:59:49 AM
 #74

When I started in bitcoin, cloud mining and hyip are the things that attract me the most when I was still looking for an easy way to make money. It was all scams and some will even try to make a reputation for a year to attract more but in the end they will also disappear like the others. You don't have any assurance on those cloud minings and it's a very risky transaction right from the start.

Yes, because new people still thinking about how they are going to make easy money in every field including in cryptocurrency so when they see a big offer by cloud mining and hyip, they will try no matter if, in the end, they will get a scam by that website. It's hard to believe that, but that is what happens on around us.

I think since 2017 until now, cloud mining was not a good solution to make money, but I see that in middle of the last year until this year, many cloud mining was online to fill what people want because they see that the market still on the bottom. They know how to use the chance to make money from the desperate of the people.
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March 21, 2019, 07:09:52 AM
 #75

Cloud mining is not a good way for people to earn money. Just trade. In cloud mining, you got to spend money in which you are not the holder of the money, it's the miner's who have your money. In cryptocurrency, we should not trust anybody so easily. Scammers are lurking in this platform in which they are in numbers.
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March 21, 2019, 08:15:17 AM
 #76

Most of them make money by tricking other people. example: like a cloud mining maker, by giving a return on capital and greater profits.
I hope no one has been fooled this year by the cloud mining site. because they are fake websites that can endanger crypto users.
especially for beginners, because you are very quickly caught up in their seduction. Remember that in the crypto world there are no rich people quickly.
People should search about the review of cloud mining. Those who are new think that it is easy money for the to earn without knowing that the site is being used for them to attract though it really not going to pay. Mining site should not be visit or warn those using it to stop because it just going to waste their resources. There is no easy money, you have to work for it to gain.

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March 21, 2019, 08:38:33 AM
 #77

If people will do research, they will find out there are a lot of complaints in the scam section on the majority of top cloud mining sites, but newbies are not doing their assignment, they tend to believe what they see in advertising, when in fact these are all Ponzi Scheme.

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March 21, 2019, 01:25:20 PM
 #78

Cloud mining is not a good way for people to earn money. Just trade. In cloud mining, you got to spend money in which you are not the holder of the money, it's the miner's who have your money. In cryptocurrency, we should not trust anybody so easily. Scammers are lurking in this platform in which they are in numbers.
Cloud mining has had a very good time in the past when many investors have earned a lot of bitcoin from it but when the value of bitcoin increases over time, this story has had the opposite reaction, almost all cloud minning just want to steal investors' bitcoin, and I have not heard about cloud mining for a long time, it seems to have been removed from the lives of bitcoin users. Therefore, in this moment, when people mention cloud mining, my advice can only say that it is a scam and should not participate.

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March 21, 2019, 01:50:30 PM
 #79

you need to know that not 100% cloud mining is legit, we know that cloud mining has many benefit, we dont need to maintenance the rig and dont pay the electiricty bill, but we should find the good cloud mining provider if you want to start cloud mining, you need to see the record of the cloud mining before you subscribe it

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March 21, 2019, 02:15:41 PM
 #80

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Actually it was not scam, but when the mining fee got higher and the price of bitcoin getting down.. So yeah..
I got like 3 times of my investment back in 2017 on hashflare.
But now, every cloud mining are almost scam  Sad

I never invested in cloud mining business because i feel it is sort of a scam. More of the sites collect the money from the people in name of mining and they exit when they got enough money.
On the other site, even if the site do not exit, the change in bitcoin prices make it difficult to get profit out of it.
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March 21, 2019, 03:13:53 PM
 #81

Is the NUVOO mining https://nuvoo.io/ right websites? I have confused a bit because i am not used it because i involved other some popular cloud mining like https://hashflare.io/ and https://www.genesis-mining.com/ i don't think your proof is enough to cloud mining is a scam.

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March 23, 2019, 07:11:20 PM
 #82

The present market has proved that cloud mining projects majority of well-established projects have failed
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March 23, 2019, 10:53:08 PM
 #83

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Behind every scam is either greed or the desire to gain without a job
(Passive income) coupled with ignorance and lack of experience
Another problem is the impact of fraud on the reputation of crypto as a whole
Some will not understand that crypto is not his fault
It's simply as thefts from banks using forged documents.
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March 23, 2019, 11:09:32 PM
 #84

Well, newcomers still come to crypto for a freebie. They believe that they can get a lot of money here, and therefore begin to participate in all sorts of fraudulent schemes. And when they fail, they will say that crypto is a Scam.

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March 23, 2019, 11:28:52 PM
 #85

The present market has proved that cloud mining projects majority of well-established projects have failed

Is there even something like a well established cloud mining project? Is this the same as a scam that goes on for years therefore it is legit? Cheesy
Cloud mining is always a scam. I can't believe people are falling for it 4 or 5 years after the first cloud mining scams were busted.
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March 23, 2019, 11:55:52 PM
 #86

Is the NUVOO mining https://nuvoo.io/ right websites? I have confused a bit because i am not used it because i involved other some popular cloud mining like https://hashflare.io/ and https://www.genesis-mining.com/ i don't think your proof is enough to cloud mining is a scam.

being popular doesn't make something not-a-scam!
being popular in this case only means that they are successful scams. if you think about it, a lot of miners shut down their mining equipment due to rise of difficulty and drop in price, but these cloud miners are still running despite the fact that people no longer trust them enough to make an investment in any of them. not to mention that they always sell more than possible hashrate they may have which is clear signs of Ponzi.

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March 24, 2019, 12:20:19 AM
 #87

It is rather unfortunate how some newbies fall victims to these scam cloud mining sites. This has been one of the topmost topics discussed on the forum scam sections and if newbies are to do enough research, the truth behind cloud mining will be unfold. Knowledge is very key in crypto and all crypto enthusiasts must take time to study more about the crypto space in order to come out successful.
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March 24, 2019, 12:31:50 AM
 #88

The difficulty in mining has risen so much that getting rewards in the cloud is unlikely, it is best to join a pool and with a high capacity team.
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March 24, 2019, 12:57:01 AM
 #89

On the other site, even if the site do not exit, the change in bitcoin prices make it difficult to get profit out of it.

There are two types of cloud mining and both are scamming you. First one is a fake site used to gather money and play ponzi for a while to make people think it's legit and then disappear. Second one pays out for months or even years but makes sure you never reach ROI. You invest 1000 dollars and in 2 years they pay you back and then shut down your contract. In those 2 years they are mining with equipment you bought for them and you're getting your money back and think it's all fine.
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March 24, 2019, 01:03:47 AM
 #90

I have friends that claim that they know Cryptocurrency and they say they are mining and asked “Where’s your mining rig?” Then they say “I don’t have, I just share my Hash power towards a cloud mining service.”. That’s just sad knowing that they are going to be regretting their decision. I’m not sure if they still continue to do it or even involved in the cryptocurrency scene. They just went there because Bitcoin reached the ATH and not stay.

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March 24, 2019, 02:56:45 AM
 #91

Well, newcomers still come to crypto for a freebie. They believe that they can get a lot of money here, and therefore begin to participate in all sorts of fraudulent schemes. And when they fail, they will say that crypto is a Scam.
Most of those who suffered losses due to scam were newbies, and I had experienced that in mining investment too, I suffered losses in piggymining, hashmining, and so on. I began to realize that mining which provides big profits is just a ponzi scheme, but I never say crypto is scam
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March 24, 2019, 04:10:33 AM
 #92

Most of those who suffered losses due to scam were newbies

Not only newbies but also veteran and pro do also experience to get scam because scammers are hard to detect .

I had experienced that in mining investment too, I suffered losses in piggymining, hashmining, and so on. I began to realize that mining which provides big profits is just a ponzi scheme, but I never say crypto is scam

Those sites that you mentioned above are seem to be an obvious scam by just basing on their domain names  .  majority of the cloud mining sites are also scam so its not surprising of someone will got scammed by them  .  even if you say that crypto is not a scam , other people especially those newbie and the ones that didnt try crypto will instantly think that crypto is scam after they hear scamming news related to crypto  .  it sucks but thats the truth
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March 24, 2019, 04:22:30 AM
 #93

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Agreed with this and Ive always had my doubts about pooling your monies together to help each other.
This is crypto where people are as selfish as they come.
For people who really believe in this concept, heres an article-
https://www.buybitcoinworldwide.com/mining/cloud-mining/


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March 24, 2019, 06:00:19 AM
 #94

Well, newcomers still come to crypto for a freebie. They believe that they can get a lot of money here, and therefore begin to participate in all sorts of fraudulent schemes. And when they fail, they will say that crypto is a Scam.
Most of those who suffered losses due to scam were newbies, and I had experienced that in mining investment too, I suffered losses in piggymining, hashmining, and so on. I began to realize that mining which provides big profits is just a ponzi scheme, but I never say crypto is scam

It's almost unsustainable long term so people should really consider other things fist before investing in cloud mining sites. At first look, it's really an easy, effortless way to get bitcoins but you don't have any assurances then even if the site is legitimate. If it crashes you wpuldn't have anyone to run after.


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March 24, 2019, 11:54:59 AM
 #95

When I hear the words cloud mining, what comes to my mind is that you will invest your money for the miners and you'll let the miners get the profit of that and will give you some part of your profit. I think it's odd for you just to give your money to them, I think investing would be profitable rather than cloud mining, at least you have your money and you control it.




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March 24, 2019, 12:18:26 PM
 #96

I in most cases also believe that 99% of projects with cloud mining are a Scam , but for example there is eobot I know it works for a long time , and it seems to always withdraw funds , but that's just not quite profitable to mine, payback almost 2 years

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March 24, 2019, 02:59:33 PM
 #97

not all cloud mining is a scam
to see if the cloud mining is scam or not, I use this method
1. Pay attention to the correct SSL installation on the website
2. websiter design
3. the original owner or creator of the website
4. See the support page and check the truth of the existence of the company
5. when before making a payment is there a statement of approval for the purchase of hashes
Hopefully this is useful, if something goes wrong, please correct it or if something is missing, please add it

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March 24, 2019, 03:07:04 PM
 #98

Quote

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

You can't blame people, these cloud mining sites have a huge army of promoters and of course, they also offer referral rewards, sometimes referral contest, they can only victimize newbies in this community but not an old timer.

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March 24, 2019, 03:53:08 PM
 #99

I think not everyone understands crypto, of course there are still many beginners who are new to crypto, so it's only natural that some people try to get bitcoin from cloud mining.

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March 24, 2019, 05:29:13 PM
 #100

One can't blame them for believing in cloud mining and treating it as a great investment, cloud mining is a proven scam just that they still have nobs you preach their victims into it and there by making them believed that cloud mining is a legit means of earning profits in cryptocurrency.
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March 24, 2019, 05:38:55 PM
 #101

Those who still believe cloud mining can be source money because they are usually still brand new to involved in crypto world and usually they do not have experience so they easily affected when people says that cloud mining will fulfill they promise will giving high profit to their investors which is this really fake and we cannot blame people such as them and we who had more experience should be warn them early

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March 24, 2019, 05:44:07 PM
 #102

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.
Every sector can become a means of scamming opportunity to fraudsters but this doesn't be cloud mining is a scam.
Individuals just has to raise there bridge wall against the possibilities of getting scammed

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March 24, 2019, 09:20:59 PM
 #103

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.
Every sector can become a means of scamming opportunity to fraudsters but this doesn't be cloud mining is a scam.
Individuals just has to raise there bridge wall against the possibilities of getting scammed
There are many spheres in the world where deception occurs very often. And we have to fight against deception, be careful in the cryptocurrency market.

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March 24, 2019, 10:57:24 PM
 #104

Still yet majority of people are yet to know the real truth behind cloud mining .many won’t even listen. When you tell them not invest they might thing you don’t want them to make money. People should check this forum and make a lot of research before putting money into a scheme.
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March 24, 2019, 11:00:54 PM
 #105

i believe that clod mining is not a scam and can be achieved if it has not already being achieved as at this point in time, it is considered as one of the best solutions to the storage of data currently and can be deployed to solved challenges associated with the mining of crypto currencies
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May 14, 2019, 12:37:46 PM
 #106

We can't blame people for investing in such cloud especially if they are not good at trading, investments are still the best option for them but not recommended. The closest investment is cloud mining if the cloud mining site is the longer they assumed that it is legitimate but eventually will be turned out to be a scam.
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May 14, 2019, 01:04:50 PM
 #107

The crypto industry is still young with so many starters getting on board almost everyday unlike this I don't believe no experienced crypto investor would fall for these scams of cloud mining. Mining in its general terms ain't profitable as it used to be how much more profits from cloud mining. We are setting for the bull run and it's best to invest into some cryptocurrencies other than wasting your time on investing with cloud miners.

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May 14, 2019, 01:08:35 PM
 #108

Every user of cryptocurrency surely has a fantasy of being able to earn big through bitcoin when they get into bitcoin. They never know how risk it is, this mind makes them invest on such scams without any form of research. Cloud mining is possible in my view, but one cannot get the big return as those people promote with big multiplication on the investment.

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May 14, 2019, 01:09:27 PM
 #109

Cloud mining become another option for people who want to earn passive income on crypto with small capital.
It's just like ordinary trading but if there is an option for who want to do copy trading, they will choose copy trader rather than trading by themself.

So basically people is lazy but they want to earn easy money

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May 14, 2019, 01:54:33 PM
 #110

A newbie + old people= higher percentage to get scammed.

Over here many people still going to MLM, join money game. They don't understand anything, they think it's possible to get that much money when you just doing an easy task.
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May 14, 2019, 02:12:10 PM
 #111

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
The problem is that new users always look for ways to earn bitcoin in an easy way and they end up investing in doubling scams and cloud mining, little do they know that they are all fooling these novice users entering the market, i am not sure what we can do to stop people being scammed from these sites, more sites are being exposed as scams and still people tend to invest in those scams over and over again.
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May 14, 2019, 02:14:31 PM
 #112

Cloud mining isn't necessarily always a scam its just not worth investing in.  I know some people that made some profits from their contracts but they would have done much better just buying crypto instead with that money.  If the farm had a really strong operation in the first place they wouldn't even have to sell contracts.
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May 14, 2019, 02:22:52 PM
 #113

Its just a ponzi scam its always good and shiny in the beggining but when the ponzi become untenable for the to give profit to the newcomers.. so that why even when u get profit in the beggining we all know how its goin to end. that the sad thruth about most of cloud mining sites maybe the new cloud mining site in this bull market are going to be profitable fos some months.

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May 18, 2019, 10:42:16 PM
 #114

You actually get cloud mining scripts that are sold with the intentions of ripping people off. They can be set in the admin panel to do all sorts of things, like fake users and payouts and hashpower.
You cannot actually fake hash power because there are no miners so if you look on the blockchain there is nothing but they still fake it on their website for people who do not know better.
They even come with their own little bs story of why they here and where they came from. The same with HYIP scripts. Also sold with the intentions of stealing from others.

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May 18, 2019, 10:53:59 PM
 #115

It's so sad that some crypto noobs always get swayed by these schemes of cloud mining. Most of them are scams and you would earned up losing your money or wasting your time anyway. I would advise you do crypto trading or mine the cryptocurrency yourself if you have the means.

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May 18, 2019, 11:28:56 PM
 #116

Quote

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Haven't they learn any lesson from the past ?
It has been 10 years and I couldn't believe that there are still who falls into this scam's.
If you really want to mine crypto then invest on your own mining rigs buy it and handle it on your own don't invest in this so called cloud mining scam.

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May 19, 2019, 08:42:23 PM
 #117

Cloud minings and the fallacy of the lifetime contracts. Many people thought they would earn passive income by the end of their lives, but in fact they earn few satoshis every day and decreasing until the *lifetime contract* is finished because mining difficult and operational maintenance costs.
And they dare to say some people make profit from cloud mining investment. Of course they did, they invested in cloud mining when btc was 400 dollars, received half of the total amount of btcs invested back, but with btc at 6000-14000 dollars range price. In this kind of business the investor is paying the mining business to make profit exclusively for themselves, it doesn't return any profit to investors!

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May 19, 2019, 08:48:37 PM
 #118

One can't blame them for believing in cloud mining and treating it as a great investment, cloud mining is a proven scam just that they still have nobs you preach their victims into it and there by making them believed that cloud mining is a legit means of earning profits in cryptocurrency.
I have given up long ago on cloud mining because it a proven scam but I don't know why some people in the community still get them self involved in it. I have hard several cases against cloud mining that they don't pay up and the account of users getting compromised this are some of the fraud activities that have been associated with cloud mining lately.
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May 19, 2019, 09:07:09 PM
 #119

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
You cant really blame yet there are still noobs out there who do feed these scammers.Due to lack of knowledge and the nature of greediness
on making money which do leads with wrong decisions on putting money with these cloud mining sites.Its part of the learning process  Cheesy
Maybe the investor was a newbie in crypto currency and doesn't know a thing yet.
But still it wouldn't be enough reason to fall victim to those scammer since there are so many ways to know that those are just scam site.
They are just lazy enough to do their own research.

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May 19, 2019, 09:12:27 PM
 #120

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

It's really unbelievable, all that's needed is a quick search on google and anyone will find what happens with most of these scam cloud mining operations...

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May 19, 2019, 09:18:55 PM
 #121

We can't do anything for them. they need to learn and even if you warn them about these scams and hypes they are still gonna make the same mistakes. but these scams are definatly gonna too small in current years but I do not understand why these scams are even there. I mean a skilled user can easily make like 0.01 btc per month (at least). there is nothing bad about making money but making money from stealing others is somewhat bad.
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May 19, 2019, 09:39:19 PM
Merited by uneng (1)
 #122

Cloud minings and the fallacy of the lifetime contracts. Many people thought they would earn passive income by the end of their lives, but in fact they earn few satoshis every day and decreasing until the *lifetime contract* is finished because mining difficult and operational maintenance costs.
And they dare to say some people make profit from cloud mining investment. Of course they did, they invested in cloud mining when btc was 400 dollars, received half of the total amount of btcs invested back, but with btc at 6000-14000 dollars range price. In this kind of business the investor is paying the mining business to make profit exclusively for themselves, it doesn't return any profit to investors!
Most people think that there's got to be some kind of value in these mining contracts, at least when they start. I think it's basically just betting that the value of Bitcoin will always go up and that the difficulty won't get harder than it already is, which we know is a fallacy because it's almost always been going up. I used to think that cloud mining was a viable means of earning BTC, since I used to use sites such as, I think it was CEX.io(?), and it's where I put my first few earnings into, but I eventually realized that it would never pay off and I was able to walk away without losses because I could just sell the hashing power.

I kind of want to feel bad for people that get baited into these kinds of scams, but that's what happens when people think that something too good to be true is actually a good deal. There is no value in mining contracts and, sadly, too many people buy into the lifetime ones thinking it's a great deal.

Companies do whatever makes them the most $, and if they're willing to sell their hashing power instead of using it to mine for themselves, you know that it's more profitable for them to not mine. If they won't mine, why should you?
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May 19, 2019, 09:42:51 PM
 #123

If people just use the logic and do the math they will see that`s not worth to invest on cloud mining
You will only gain money if the coin rises in value, so you can buy the coin directly

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May 19, 2019, 09:44:06 PM
 #124

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Anyone new to bitcoin will always look at ways to earn maximum benefit and that is where these cloud mining sites make their profit, it is a trap for new users as they will not understand the difficulty in which you could get any profit even with a good mining machine and these cloud mining sites are taking advantage of that ignorance and there is no doubt we should tag those sites.
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May 19, 2019, 11:27:45 PM
 #125

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
You cant really blame yet there are still noobs out there who do feed these scammers.Due to lack of knowledge and the nature of greediness
on making money which do leads with wrong decisions on putting money with these cloud mining sites.Its part of the learning process  Cheesy
Lack of knowledge, yes, that was most people got scammed. The worst here is the reputation of the entire cryptocurrency, once a noob had scammed they think that the whole crypto also was a scam and the main here is Bitcoin. And tell their friends that it is scam without knowing them the only source of scam is where they invested not the crypto. Frankly speaking, people are easy to fool when it comes to higher earnings.
Well, we are so lucky here that we are fully oriented regarding that matter and avoid possible scam.
So that is why we need to improve their thinking level about crypto dont hesitate to help because i know it will give them a motivation to never drag themselves about quiting here because this is what exactly i‘ve experienced here in crypto.

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May 29, 2019, 11:03:24 AM
 #126

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
i used only one cloudmining website that is Eobot i dint find much revenue in this site even if we want to get some good returns it will take years . So i stopped investing time in this websites .
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May 29, 2019, 11:10:55 AM
 #127

Cloud mining sites are really great and easy scams if you want to scam people who are new in this type of thing. People want fast and big returns and cloud mining scams offer such great profits.Too bad people rarely realise if something is too good to be true, it is not true at all. There are a lot of cloud mining scams and most of them were very profitable for scammmers. A shitty website and a couple of people promoting that site for their own gain. And thats it. Scams such as crypterra which was not even a good scam that had a site that only had stock images got away with millions of dollars.
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May 29, 2019, 11:33:30 AM
 #128

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Cloud mining was over since 2017, but there is still a lot of cloud minings, they are targetting newbies who do not know that the cloud mining is just a Ponzi scheme and there are really no mining rigs to show investors, I'm also surprised that so many ICO are cloud mining based.

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May 29, 2019, 11:39:32 AM
 #129

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Cloud mining was over since 2017, but there is still a lot of cloud minings, they are targetting newbies who do not know that the cloud mining is just a Ponzi scheme and there are really no mining rigs to show investors, I'm also surprised that so many ICO are cloud mining based.

You are right that new user who are greedy and came to bitcoin to become rich soon falls for this cloud mining scam as they wanted to earn without doing any hardwork and cloud mining is the best way they think but in the end they come to know that they got scammed.
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May 29, 2019, 11:44:49 AM
 #130

If people just use the logic and do the math they will see that`s not worth to invest on cloud mining
You will only gain money if the coin rises in value, so you can buy the coin directly

But the problem is people are tempted of the word "making money with cloud mining" so they still invest in the cloud mining especially in the new cloud mining which they don't know if that services could stay online for a long or not. The cloud mining right now was not profitable because you should buy hash power to mining, the price of the power is not cheap, you should wait for some time to reach ROI which you don't know if you can reach it or not.

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Novatech8
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May 29, 2019, 12:25:20 PM
 #131

I've been in the cloud mining business since 2017 and I've learned a lot about it ,I invested for sure but later on gradually I detect its an absolute waste of time ,many of the popular cloud mining platforms are dead or exist scam already ,stay away or cry later

Indamuck
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May 29, 2019, 12:38:44 PM
 #132

Just because it is a stupid thing to buy doesn't mean it is a scam.  The mining companies usually do what they promised but it is a dumb investment.  It is like a car dealership selling you rust protection or something else that isn't really needed but you are still getting that service so it isn't really a scam.
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May 29, 2019, 12:47:03 PM
 #133

Just because it is a stupid thing to buy doesn't mean it is a scam.  The mining companies usually do what they promised but it is a dumb investment.  It is like a car dealership selling you rust protection or something else that isn't really needed but you are still getting that service so it isn't really a scam.
It's true that there are some cloud mining websites that are fair and try to do the best in order to pay their customers but the reality is these days most of this websites are just a hidded HYIP under another name. They lie people about their company and their services, pay them for a small period of time to build some reputation and raise more money and them disappear and stop payments.
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May 29, 2019, 04:08:56 PM
 #134

Some cloud mining is not a scam, but over time with cloud mining we can't get a ROI, i invest over time on cloud mining and after i paid over 0.1 bitcoin and got on return only 0.07 bitcoin.
bekkioPEK
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May 29, 2019, 04:32:15 PM
 #135

I did a couple of contracts with genesis mining in the past, September 2017 it seems to me, the contract was 2 years and in fact they are still paying me (I think there are a few months to finish the contract). the problem is that after a few months the profits have dropped a lot and you only have a few crumbs left. absolutely not recommended

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May 29, 2019, 04:42:19 PM
 #136

I did a couple of contracts with genesis mining in the past, September 2017 it seems to me, the contract was 2 years and in fact they are still paying me (I think there are a few months to finish the contract). the problem is that after a few months the profits have dropped a lot and you only have a few crumbs left. absolutely not recommended
most of the comments about cloud mining is really not for recommending such investment, its better to trade or invest with projects that you'll
be able to get some good returned instead of giving your money with mining company who can't promised to take care of your money, you can deal
with trading and invest with full control of your money.

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oseikuf44
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May 29, 2019, 07:54:44 PM
 #137

99.99 percent of all cloud mining is a scam despite all the hardware and the proof they can convince investors to believe. It is unfortunate always newbies into cryptocuurency fall to this fraud. Though they can pay at early stage like all ponzi scheme but sooner or later they will get excuse to stop paying.
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May 29, 2019, 09:20:43 PM
 #138

Immediately avoid cloud mining because this is a type of investment that is not recommended. too many negative things happen because basically the cloud mining companies do not have hardware mining and in fact the majority only do math calculations. so this initial indication has proven that cloud mining is not reliable to be an investment. choose investments that are far more convincing like trading. I left cloud mining 3 years ago, I realized that cloud mining is a useless thing.
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May 29, 2019, 09:31:10 PM
 #139

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Cloud mining was over since 2017, but there is still a lot of cloud minings, they are targetting newbies who do not know that the cloud mining is just a Ponzi scheme and there are really no mining rigs to show investors, I'm also surprised that so many ICO are cloud mining based.

It was over even before that. The real big year for cloud mining was 2015 and it was just next year 2016 when most of them collapsed because it wasn't profitable to mine and contracts were bought months before when Bitcoin was worth more so people were expecting profits that were impossible to achieve in bear market.

Some cloud minings were ponzi schemes and some just couldn't deliver.
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June 24, 2019, 01:15:32 PM
 #140

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
Thats why we need to expand our effort in telling people like this,we cannot blame them for being a victim as  cloud mining really promise huge profit than the other area of profiteering here

I almost entered this mining field when a friend of mine told me about this issue and lucky that instead of cloud mining i bought cryptocurrency and tokens for long term holding

Now atleast i can still see my capital(even though they dropped from upto 50% but still chances are i can profit huge in future

I actually had the same experienced with you. I have friends who suddenly woke up one day and invite me to join on those cloud minings in 2017, lol. The thing is that I'm not aware that they're also into crypto so I was caught by surprised and I told them that majority of them are scams.

So they didn't believed in me and later I found out that they have been scammed and come back to me saying that they should have listened to me.  Grin
Lucky that I am not one of those friends of yours who cried after being scammed and not listening to advices lol 😂

But at least they become a good example to others so they won’t be a victim in same scenario.i hate scammers as I hate being victim also
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June 24, 2019, 08:50:33 PM
 #141

Never engaged in mining at all,and cloud mining even more so.And what is important on the forum no one wrote that earned well with this type of mining.Therefore, as soon as you see the words “cloud mining” in advertising, know that fraudsters are hiding behind this advertisement.
Irvinn
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June 25, 2019, 05:12:46 AM
 #142

When you personally assemble a farm for mining and monitor the work of all your computers, you really see your results.  Based on this, you have a desire to improve and increase the power of your system, invested money in it.  But if we are talking about cloud mining, then for all of her this wall can really hide scammers who earn with the help of those who have connected to their online capabilities.  And I did not even try this type of activity, because I didn’t like it from the very beginning, because I couldn’t control the whole situation.
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June 25, 2019, 08:15:13 AM
 #143

Never engaged in mining at all,and cloud mining even more so.And what is important on the forum no one wrote that earned well with this type of mining.Therefore, as soon as you see the words “cloud mining” in advertising, know that fraudsters are hiding behind this advertisement.
actually, cloud mining is very thick and close to scammers. Since I know Crypto, it always ends scam. however, the safest thing in mining is to build your own rig, even though it requires substantial costs.
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June 25, 2019, 01:32:35 PM
 #144

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..


when i started with btc it was pretty known that cloud mining was a scam you end up with pretty much nothing thanks to fees and other bullshit, it looks good on paper but once u start using it you never make anything pretty much and just to get back your investment take years lol.
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June 25, 2019, 09:14:21 PM
 #145

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I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..
in my opinion cloud mining is not really a scam if they really have proof of mining equipment to support their project. but you need to ask yourself why they will sell their equipment if they earn from it. i try to invest in cloud mining before and the good thing is until now i still earn  from it but the earning is super low if you will compare it in the real earning of equipment you bought. if i will convert the coin i use to purchase the equipment i will have better profit right now.





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