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Author Topic: Another proof that cloud mining is a scam  (Read 1115 times)
Pffrt
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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

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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.
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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

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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

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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Xenrise
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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.
Naughty Princess
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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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kennen1113
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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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