▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁

[pixie85]

What about hashflare? I think they are big enough to deserve to being
considered here. I guess general opinion is that they are legit..

OP is AWOL for a long time, hashflare hasn't shown any signs of legitimacy based on his criteria though. The fact that it's been running for a long time doesn't make it a good candidate for being legit. There aer many examples of schemes that collapsed and went away with user funds.

But they invite you to visit their mining rigs. So yes, they are legit. Profitable? That's another story, but they do mine.

Kindly note, though that they do invite to visit their mining rigs, that this is not the same as being legit (!)   

I have seen a few posts from people saying they were thinking about paying them a visit, but never actually saw a comment of one who actually had done so 

True. This is similar to what some of these scam companies are doing.
Some of those from OP's list owned offices and you could go there and talk to their employees. They had live chats, skypes, phone numbers. Some even had mining farms set up to look legit, made photos and videos of these mines and it was all for show.
A company with a physical location can't be called legit purely because of that.
Owning mining equipment doesn't make you a legit cloud mining company!

[brobbel]

What about hashflare? I think they are big enough to deserve to being
considered here. I guess general opinion is that they are legit..

OP is AWOL for a long time, hashflare hasn't shown any signs of legitimacy based on his criteria though. The fact that it's been running for a long time doesn't make it a good candidate for being legit. There aer many examples of schemes that collapsed and went away with user funds.

But they invite you to visit their mining rigs. So yes, they are legit. Profitable? That's another story, but they do mine.

Kindly note, though that they do invite to visit their mining rigs, that this is not the same as being legit (!)   

I have seen a few posts from people saying they were thinking about paying them a visit, but never actually saw a comment of one who actually had done so 

True. This is similar to what some of these scam companies are doing.
Some of those from OP's list owned offices and you could go there and talk to their employees. They had live chats, skypes, phone numbers. Some even had mining farms set up to look legit, made photos and videos of these mines and it was all for show.
A company with a physical location can't be called legit purely because of that.
Owning mining equipment doesn't make you a legit cloud mining company!

All true.

But even being a legit cloud mining company does not mean you will never be scammed.
Wrong business decisions, hacks, inside jobs, etc. can happen.

[shane]

What about hashflare? I think they are big enough to deserve to being
considered here. I guess general opinion is that they are legit..

im not trust any cloudmining, we can build our mining rig just with 1BTC
why invest our money at cloudmining if we can mining it with our real hashrate ?

[ubercool]

What about hashflare? I think they are big enough to deserve to being
considered here. I guess general opinion is that they are legit..

OP is AWOL for a long time, hashflare hasn't shown any signs of legitimacy based on his criteria though. The fact that it's been running for a long time doesn't make it a good candidate for being legit. There aer many examples of schemes that collapsed and went away with user funds.

But they invite you to visit their mining rigs. So yes, they are legit. Profitable? That's another story, but they do mine.

Kindly note, though that they do invite to visit their mining rigs, that this is not the same as being legit (!)   

I have seen a few posts from people saying they were thinking about paying them a visit, but never actually saw a comment of one who actually had done so 

True. This is similar to what some of these scam companies are doing.
Some of those from OP's list owned offices and you could go there and talk to their employees. They had live chats, skypes, phone numbers. Some even had mining farms set up to look legit, made photos and videos of these mines and it was all for show.
A company with a physical location can't be called legit purely because of that.
Owning mining equipment doesn't make you a legit cloud mining company!

All true.

But even being a legit cloud mining company does not mean you will never be scammed.
Wrong business decisions, hacks, inside jobs, etc. can happen.

Cashing out the investment is near to impossible now in cloud mining. It was only good for early days and after that, it was just a scheme to rotate your own money. No profit at all.

[btcdiggingmaster]

What about hashflare? I think they are big enough to deserve to being
considered here. I guess general opinion is that they are legit..

im not trust any cloudmining, we can build our mining rig just with 1BTC
why invest our money at cloudmining if we can mining it with our real hashrate ?

I agree with you because instead of investing in other Ponzi schemes why don't we learn ourselves how mining works. Because every cloud mining is a scam because they will pay us according to their wish and according to the investment they got. If we raise any question they will say simple answer our power bills are very high Bla Bla Bla Bla...

[brobbel]

Bla Bla Bla Bla...

That part were the only words that made sense.

Not every cloud mining is ponzi, only (almost) every cloud mining (legit or not) is a bad investment.

[JessicaG]

im not trust any cloudmining, we can build our mining rig just with 1BTC
why invest our money at cloudmining if we can mining it with our real hashrate ?

Simple: Because from a financial point of speaking, the electricity costs and the write-off of your equipment for example. In some countries mining is profitable, whilst in others mining profits are (very) thin or even unprofitable.

Not every cloud mining is ponzi, only (almost) every cloud mining (legit or not) is a bad investment.

Agree.
I like HashNest, but it's rather unpredictable and a bit of a gamble to make some profits, but certainly not impossible.
I like HashFlare as well, but I'm a bit more cautious with them; to many red flags for me to wager large(r) sums with them, so I'm building this one up more slowly.

[s@t0sh!]

Bla Bla Bla Bla...

That part were the only words that made sense.

Not every cloud mining is ponzi, only (almost) every cloud mining (legit or not) is a bad investment.

I don't think cloud mining is a bad investment. If you had invested in Ether/LTC mining before the recent price rise, your previously mined coins would suddenly be worth lots more leading to a good ROI on the cheap mining plans, when the coin prices were low.

[flaboy07]

Anyone here have any experiences with Eligiusmining.com....issues pulling coin!

[carlfebz2]

Bla Bla Bla Bla...

That part were the only words that made sense.

Not every cloud mining is ponzi, only (almost) every cloud mining (legit or not) is a bad investment.

I don't think cloud mining is a bad investment. If you had invested in Ether/LTC mining before the recent price rise, your previously mined coins would suddenly be worth lots more leading to a good ROI on the cheap mining plans, when the coin prices were low.

You do know whats actually a cloud mining? Its mining a particular coins with the use of other service or 3rd party which means you dont have the rig or whatsoever.You have just put your money into them and doing all the work.If you are speaking about mining coins then thats not cloud mining but personal or physical mining. Most of this cloud mining are just total ponzi which ends up scam.

[effect515]

It has been 1 year since the ponzi assessment table last published

[iamTom123]

Bla Bla Bla Bla...

That part were the only words that made sense.

Not every cloud mining is ponzi, only (almost) every cloud mining (legit or not) is a bad investment.

I don't think cloud mining is a bad investment. If you had invested in Ether/LTC mining before the recent price rise, your previously mined coins would suddenly be worth lots more leading to a good ROI on the cheap mining plans, when the coin prices were low.

You do know whats actually a cloud mining? Its mining a particular coins with the use of other service or 3rd party which means you dont have the rig or whatsoever.You have just put your money into them and doing all the work.If you are speaking about mining coins then thats not cloud mining but personal or physical mining. Most of this cloud mining are just total ponzi which ends up scam.

I can still remember last year when I get back online and get introduced into many opportunities on cryptocurrency there was one very popular cloud mining company called HashOcean which later on became a big scam. After that, other so-called mining programs also closed leaving many investors holding large empty bags.

We should really careful with what we are dealing online especially if it is involving the money we earned so hard. The feeling of being scammed is something beyond description and it is an insult to our intelligence. It is often said that we have to do our due diligence and to think many times before opening our wallet whether online or offline.

[someone111]

Is https://bitclubpool.com a ponzi scam?

https://bitcointalk.org/index.php?topic=762075.0;all

[mnmnmn]

Thanks for starting this thread. In retrospect, it's obvious that cloud mining has to be a scam, but I needed to hear someone point it out.

[manifo1d]

What about microhash.net?

I received Payout yesterday

[letsfly]

I'm still with hashflare and they are still paying though they change the contract from lifetime to one year . Is that a good sign that they are legit ?

[TetianaTan]

Thank you good topic. Having studied all the topics, I concluded that my investments in cloud mining are erroneous. I invested in hashflare and eobot.

[Holla123]

some people recommended genesis mining independently from each other another one likes hashflare better because he said  they also have operations in Europe and they have some option for cashout anytime.

[JessicaG]

some people recommended genesis mining independently from each other another one likes hashflare better because he said  they also have operations in Europe and they have some option for cashout anytime.

It's near impossible nowadays to reach ROI with genesis mining, and hashflare is no better since they recently made the switch to change their lifetime contracts to yearly contracts... 

[dunfida]

some people recommended genesis mining independently from each other another one likes hashflare better because he said  they also have operations in Europe and they have some option for cashout anytime.

It's near impossible nowadays to reach ROI with genesis mining, and hashflare is no better since they recently made the switch to change their lifetime contracts to yearly contracts... 

They would really do such thing sooner or later because they would kill their business if they would offer lifetime contracts and somehow this kind of promotion do really adds up on the hype which people put into their minds that they can able to make money forever without doing nothing.Just invest and forget and you do receive daily profits.They would really make a limit and if not then they cant sustain to give more than on ROI into those investors.This is quiet a wise move from them and that's why cloud mining isn't really profitable at all.