I am of the opinion that every cloud mining should be labelled as a scam. No exception
But for no reason, there are a lot of people who still fall into this program.
Unfortunately, just like in casinos where MOST people end up losing money given the statistical advantages the house has over the players, you can't label them as scammers, the same thing is true for cloud mining that is offered by "legit" companies like Bitmain, in other words, you could sue all those fake cloud mining companies who simply take your money and run, but I doubt you can do the same with Bitmain, Viabtc, any other company that doesn't just run away with your money.
They simply are counting on people's ignorance and greed, they know the math very well, and they know how to make a profit at the expense of those who don't, do I advice everyone against it? yes, can I say without a doubt that Binance, Viabtc, and all those folks are scammers? would be hard to prove in a court to be honest.
It is kinda grey scam hahaha I just recently saw Binance Cloud Mining and am interested to see but after doing math with stompix at the end if we subscribe to Binance cloud mining today we will get razor-thin profit
I just know after you guys tell me, and yes it actually profitable but razor-thin margin and we need 3 months to get return of investment for now it is not worth it too, it is better to buy with DCA technique and maybe the return will more than this.
* Hashrate Fee 0.02 + Electricity Fee 0.0531 = 0.0731/USD/T/Day (the historical output 0.0776/USD/T/Day - Fee 0.0731/USD/T/Day = 0.0045/USD/T/Day
I wonder where the 23% comes from
So right now it's 0.0777 in profit with 0.0200+0.0531, a bit better than yours but still, you get
0.0731 in expenses and 0.0777 in revenue, which is 0.0041 in profit, so a 5% margin, nowhere near a 23% stated there.
Taking into account the current mempool spam that drove the fees up and you get a 5% bonus from this which might not be there tomorrow the profit is paper thin, one tiny dif increase and you're losing coins.
