How do you think of cloud mining?

[Akiiiil]

I mean is cloud mining profitable and trusted?
There are many platforms for cloud mining such as Genesis Mining and Bitdeer...
Has anyone ever bought SHA256 computer power sharing plan or X11?

I would be grateful for any advice! Thanks!

I've tried a number of cloud mining providers. most of them were scams and the ones who stayed are also stopped paying (Genesis was also stopped paying at one point). So in general cloud mining is not profitable at all (because they drop the reward when mining currency's value jump).

Genesis also stopped paying?? I thought it might be the most trusted provider(because it has operated for some years)

[MinerPath]

I think the best cloud mining provider in 2020 is Bitcoin.com: I wrote a bit on cloud mining Bitcoin here, for anyone that may be interested: https://bitcoinminingsoftware2019.com/cloud-mining-bitcoin/

[smyslov]

I think the best cloud mining provider in 2020 is Bitcoin.com: I wrote a bit on cloud mining Bitcoin here, for anyone that may be interested: https://bitcoinminingsoftware2019.com/cloud-mining-bitcoin/

Cloud mining was profitable back 6 or 7 years ago but now I don't think so, the halving is the big factor why it's not profitable, you are right on telling people it's many advantages but still, the disadvantages outweigh the advantages, buying Bitcoin at when there is a dip is more profitable than buying a plan on cloud mining.

[JayDDee]

Cloud mining was profitable back 6 or 7 years ago but now I don't think so,

Back then everything was profitable, buying hash, selling hash, everyone made a profit.
It has nothing to do with any one method.

Buying hash from a rental service is biased toward the seller. They get to set the price and
and the buyer can take it or leave it. As long as their minimum price is above cost they make
a profit. The buyer only gets hash when the seller is guaranteed to profit an dthe buyer probably
overpaid.

A service like Nicehash is an open market like the stock market. They are just brokers between
buyers and sellers and have no influence on price, the market determines the price. It's arguably
a fair market, if you consider trading bots fair, that pits trader vs trader and the more skilled
(or better bot SW) will profit more.

[MinerPath]

I think the best cloud mining provider in 2020 is Bitcoin.com: I wrote a bit on cloud mining Bitcoin here, for anyone that may be interested: https://bitcoinminingsoftware2019.com/cloud-mining-bitcoin/

Cloud mining was profitable back 6 or 7 years ago but now I don't think so, the halving is the big factor why it's not profitable, you are right on telling people it's many advantages but still, the disadvantages outweigh the advantages, buying Bitcoin at when there is a dip is more profitable than buying a plan on cloud mining.

Cloud mining may be profitable if you expect the markets to go up. The prices are relatively close to what you can mine during that period, so if the prices jump you can yield profit.