Bitcoin investment ? Cloud mining ?

[Borisz]

I haven't yet met a person who would be talking positively about cloud mining in a long-term.
I don't want to jump to conclusion too quickly, but it is a red flag for me.

Services seem profitable at first, but then they either disappear or simply become non-profitable.
They charge such high maintenance fees that your coins are virtually nothing. Pretty much the only one who profits from cloudmining is the service provider

They invest in hardware, they sell it virtually. They calculate the maintenance fee in such a way that it includes the risk of hardware failure, so you are also paying for replacement hardware and/or maintenance. Introduce some trading fees on share trading between users and voila.

From what you wrote, it looks like a perfect description of a Ponzi scheme where all the risk (enormous risk) is put on the newly coming investor in exchange for not so promising gains. Risk-reward ratio screaming 'no go'. Pretty much in-line with my observation until now. Keep away from that.

Yes it can be a ponzi indeed. However, it can also be a legit mining business where initially due to low difficulty the miners get a fair share of their profits whereas later when the difficulty is higher the profits and hence the revenue drops significantly.

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[deepestfear]

Cloud mining sites are mostly ponzi schemes - many have closed in the last 2 to 3 months

[JessicaSe]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

[ranochigo]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

True, but cloud mining would not be profitable at all even if they are legit. If it can really profit, why don't the owners mine it for themselves and profit more?

[Madness]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

True, but cloud mining would not be profitable at all even if they are legit. If it can really profit, why don't the owners mine it for themselves and profit more?

Good question .
Well Cloud Mining is a long term investement , Let's say you paid 50$ and you got 0.1 BTC . You will say it's not profitable which is correct.
But if you wait some years , that 0.1 BTC (23$ now) may turn to (100$ later) .
Of course if you didn't pay using BTC in the first place otherwise it's like you did nothing .

~ Madness

[ranochigo]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

True, but cloud mining would not be profitable at all even if they are legit. If it can really profit, why don't the owners mine it for themselves and profit more?

Good question .
Well Cloud Mining is a long term investement , Let's say you paid 50$ and you got 0.1 BTC . You will say it's not profitable which is correct.
But if you wait some years , that 0.1 BTC (23$ now) may turn to (100$ later) .
Of course if you didn't pay using BTC in the first place otherwise it's like you did nothing .

~ Madness

You are bound to lose some BTC on maintenance fees. It would have been much more profitable and less hassle if you believe that will happen and buy Bitcoins directly.

[BillyBobZorton]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

True, but cloud mining would not be profitable at all even if they are legit. If it can really profit, why don't the owners mine it for themselves and profit more?

So basically it's impossible to mine unless you own farms of antminers these days.

[Dr Charles]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

True, but cloud mining would not be profitable at all even if they are legit. If it can really profit, why don't the owners mine it for themselves and profit more?

A good example to disprove your point is my Bit from the Block project in my signature... it is both profitable and legit. Due to intial capital requirements, just starting a cloud mining service is not always an option... BFTB is different because all profits from mining are either returned to GH owners through the form of dividends or reinvested back into the project. I cant speak for other cloud mining providers because BFTB is the first service of its kind but I spend my time, money, and energy maintaining it for no personal profit because I myself have been screwed multiple times by shady websites in this industry so I gain personal gratification for providing a service to help protect others.

call it bullshit, call it shady, call it what you will but not everyone is out to screw you over.

[leblanc]

the last horrible cloud mining I remember was a couple months back in 2013 called pbminig, many have lost a lot.

Learn from that and then decide.

[Dr Charles]

the last horrible cloud mining I remember was a couple months back in 2013 called pbminig, many have lost a lot.

Learn from that and then decide.

haha I remember pbmining... expensive 5 year contracts? doomed to fail and it did.

[mark613]

I have made a little money buying Gh's at Hashnest.com  and AmHash1 contracts through the Havelock Investments website.  You won't get rich overnight but if you buy GH's cheap enough you should be able to make roi plus a little extra.


Sorry AMHASH1 and anything Havelock is the suck.   ** AVOID **

[koelen3]

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

AFAIK , they all did in the end

[fildza]

How long in the record this thing have last and what the name ?

[gkv9]

Not all cloudmining sites are ponzis.

AFAIK , they all did in the end

True... And yes, the best place I have ever read about these cloudmining "ponzis" is: https://bitcointalk.org/index.php?topic=878387.0

[koelen3]

Not all cloudmining sites are ponzis.

AFAIK , they all did in the end

True... And yes, the best place I have ever read about these cloudmining "ponzis" is: https://bitcointalk.org/index.php?topic=878387.0

Thanks for sharing this
Really useful to share with anyone who believes in investing in a cloud mining

[fildza]

Not all cloudmining sites are ponzis.

AFAIK , they all did in the end

True... And yes, the best place I have ever read about these cloudmining "ponzis" is: https://bitcointalk.org/index.php?topic=878387.0

Thanks for sharing this
Really useful to share with anyone who believes in investing in a cloud mining

Yes, they just need some proof for them see the truth

[yenzae0215]

if you want to invest in a cloud mining service, i can suggest trying cloudminr.io i think its the only paying cloud mining site as of now

[ranochigo]

Hi For my opinion i tried genesis-cloud mining. but as time passed i conduct a research regarding on bitcoin investment. im highly recommended this site to you . https://bitc1.biz/?ref=zacki900 you can check if you wanted to. if you have a big budget for investment try their plans . it will give the best profit. Im scared of trying those sites. but i after i check it and make a deposit i can clearly say that im getting my ROI back with in 25 days so goodluck with that.

A Brand New Member telling about a Cloud-mining site with ROI in just 25 days
I better join it fast so i can get my ROI
*Sighs

hey even im new in this site. I'm reading forums i already tried cloud mining that genesis mining i said a while a go is not a ponzi or a scam. you can have your ROI if your has rate will be 5TH/s right?? so i joined in genesis mining this october 2014.

Not really, and also, ROI is dependant on price per GH and electrical fees/management fees. IF another cloud mining service cost 0.0001BTC/GH and your cloudmining service cost 0.002BTC/GH, the one with lesser price would have a better chance to ROI.

if you want to earn profit from you investment then stay away from ponzi or cloud mining sites
and if you want to loose money then invest in ponzi or cloud mining site

Not all cloudmining sites are ponzis.

True, but cloud mining would not be profitable at all even if they are legit. If it can really profit, why don't the owners mine it for themselves and profit more?

So basically it's impossible to mine unless you own farms of antminers these days.

You can mine with a CPU but you will not generate a profit.

[uki]

A Brand New Member telling about a Cloud-mining site with ROI in just 25 days
I better join it fast so i can get my ROI
*Sighs

and on top of that adding his referral in the link, what is prohibited by the etiquette of this forum.
Well, that is just another good example how trustworthy this cloud mining may be.

[tmfp]

A Brand New Member telling about a Cloud-mining site with ROI in just 25 days
I better join it fast so i can get my ROI
*Sighs

and on top of that adding his referral in the link, what is prohibited by the etiquette of this forum.
Well, that is just another good example how trustworthy this cloud mining may be.

It wasn't even cloud mining, it was "forex" trading with a team of etc etc.
A quick look at their 'main office' in London shows they share it with 52 other companies and used to call themselves "The Bitcoin Foundation Limited".