I'm against cloud miners. My arguments

[eternalgloom]

It's really the same with almost every scam like this, people could easily avoid losing their money, if only they would just stop throwing it away without thinking.
And yes, at this point in time I'd even say that "legitimate" cloud mining websites are pretty much the same as a straight up scam.

Through advertising, they make you believe that you can actually make a profit from it, even though you always end up with negative ROI.

Always better to just buy cryptocurrency and hold it.

[Steamtyme]

Good synopsis of what I figured cloud mining to be--and I don't know a whole lot about it, but everything I've read on this forum has been negative.  ~snip~

It's not the first time I've given a similar spiel, sure it won't be the last. I honestly see some of these offers from the established providers giving the same opportunity that traders have. Instead of watching the markets and whatever indicators tip people off, you can watch hardware releases and the Difficulty adjustments. The people who will win this way will be few and far between.

I get that it's not profitable to mine from home anymore, even if you join a pool and have access to cheap electricity.  It would take quite a long time to break even on your original investment in mining hardware, that's my understanding.  But at least mining solo or in a pool would be a fun and educational thing to do, whereas cloud mining is very risky and probably stressful.

Depends on the home miner and their situation. There are work arounds for most people to be at least a little profitable, but there are some who simply can't mine for profit. Recouping the gear purchases can be tough, it's reliability and longevity that are key here. If you weren't razor thin on margins you can hope to run gear for years until it finally becomes obsolete or unprofitable, ideally earning more BTC than you put in. That or sell it when someone is still willing to buy it. You nailed it on the other benefit of learning and the doing, it can be equal parts rewarding and frustrating but I've learned a ton that I wouldn't have otherwise thought to.

[shield132]

I see a lot of mad people who spam all around the internet and argue about the money they lost in cloud mining. These people claim that they INVESTED a lot of money and lost everything.

At first, I felt sorry about these people. But after I've found out what cloud mining is, I started to think, that their loss is just their fault. Cloud miners services offer you to buy mining power. That's alright. Also, they say, when your account profitability turns negative, a system closes your account automatically. That's fair too - your account should profit.

But that is the stumbling block between users and cloud mining services. Users think that they've scammed when their account just stopped making a profit. But some users start flooding saying that one or another company is a scam and nobody should trust it.

They spoil the reputation of good products. Just because they were too stupid to read a contract. I have nothing left to say. I don't understand these people!

"Good products"? Do you really call cloud mining good product? Because they are just legit scam. Would you agree if having slaves were legit again (contract where are written how much they pay in order to be their slave and etc details). I think there are some norms and standarts, what cloud mining companies do are shame and it's even more shame when people can't analyze that they are scammers who offer you mining because with you they get more profit. This is the question which 90% of people can't ask themselves: Why do they offer me mining while they can mine for themselves?

[dunfida]

It's really the same with almost every scam like this, people could easily avoid losing their money, if only they would just stop throwing it away without thinking.
And yes, at this point in time I'd even say that "legitimate" cloud mining websites are pretty much the same as a straight up scam.

Through advertising, they make you believe that you can actually make a profit from it, even though you always end up with negative ROI.

Always better to just buy cryptocurrency and hold it.

Most people would only realize it on the end and rethink that they had been fooled and these things should be think up first before putting up any money.A simple thinking or logic will really be a big help.

Mostly of cloud miners companies are Ponzi schemes that could only be profitable during a bull run. They use mostly of the money receive as an investment in the whole company and them one day they do not have money for dayle expenses. So they start to hold the BTC and make excusing until receive more BTC.

There are little companies that offer series opportunities to invest in mining operation using small quantities of BTC.

but people should know that cloud mining is not investment

Anything on this world that do requires money for you to make money specially giving you out some passive income is always considered as an investment.

[vectisitch]

obviously the poster wasn't around in 2015 when lots of cloudmining services just stopped paying and disappeared over night without a single word. you pays your money and have zero control over what happens next. its like leaving your coins on an exchange and they close crying hack. You have no control or any way of getting ypour money or coins back. stay away from cloudmining services.