Is Cloud Mining Profitable?

[needFREElunch]

Hi I have been looking into cloud mining from various places like BFL and bit-x and I was wondering if it was profitable. If anyone has experiences with it they can share that would be great as well.

[jeffhuys]

I don't have any experiences but I just wanted to warn you that cloud mining services can be huge scams. Even if there are 50 people that say it's a good, legitimate business, first try it with the minimum amount of BTC you can deposit there. Good luck 

[funtotry]

Hi I have been looking into cloud mining from various places like BFL and bit-x and I was wondering if it was profitable. If anyone has experiences with it they can share that would be great as well.

I used to use cloud mining until I took a ponzi to the knee.
 
Jokes aside, most cloud mining sites are ponzis, why would they need you to supply investments if mining is so profitable. Pretty sure zenminer just shut down, not receiving my payouts anymore

[funtotry]

Also even if people are saying they are "getting payouts" and "good site" they are either shills or they genuine posters. Either way if its a ponzi the early investors always get paid well..

[needFREElunch]

I don't have any experiences but I just wanted to warn you that cloud mining services can be huge scams. Even if there are 50 people that say it's a good, legitimate business, first try it with the minimum amount of BTC you can deposit there. Good luck 

Scams I have never heard of them being scams before this.

[needFREElunch]

Also even if people are saying they are "getting payouts" and "good site" they are either shills or they genuine posters. Either way if its a ponzi the early investors always get paid well..

What cloud mining sites did you try?

[jeffhuys]

Also even if people are saying they are "getting payouts" and "good site" they are either shills or they genuine posters. Either way if its a ponzi the early investors always get paid well..

Exactly. So, lesson learned: get in early (< 10 pages of comments) and sit back and enjoy. Just remember to cash out on time, that's the important part. I'd love to hear some stories about big "winnings" 

[funtotry]

Also even if people are saying they are "getting payouts" and "good site" they are either shills or they genuine posters. Either way if its a ponzi the early investors always get paid well..

Exactly. So, lesson learned: get in early (< 10 pages of comments) and sit back and enjoy. Just remember to cash out on time, that's the important part. I'd love to hear some stories about big "winnings" 

I used to do that, get in ponzis early dont be greedy then leave after payout. Some people get greedy and reinvest then ultimately lose money. Time is money in the bitcoin world

[jets567]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

[needFREElunch]

Also even if people are saying they are "getting payouts" and "good site" they are either shills or they genuine posters. Either way if its a ponzi the early investors always get paid well..

Exactly. So, lesson learned: get in early (< 10 pages of comments) and sit back and enjoy. Just remember to cash out on time, that's the important part. I'd love to hear some stories about big "winnings" 

I put some money one but then the script broke so i didn't get it back i think it was next ponzi that double paid a bunch of people.

[funtotry]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

[needFREElunch]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

I guess it is tempting when you have thousands of btc in the wallet and you could run and get away without any negative effects.

[needFREElunch]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

[funtotry]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

I think cex.io has been paying out well and hasn't crashed so I don't think thats a ponzi, since they also do the best mining pool ghash.io
Most other ones you can be on being a ponzi however

[bachel]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

I think cex.io has been paying out well and hasn't crashed so I don't think thats a ponzi, since they also do the best mining pool ghash.io
Most other ones you can be on being a ponzi however

Its no Ponzi but they keep a rough 80% of your minings as a fee

and a very good one is genesis mining

[needFREElunch]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

I think cex.io has been paying out well and hasn't crashed so I don't think thats a ponzi, since they also do the best mining pool ghash.io
Most other ones you can be on being a ponzi however

I guess I could see them being ponzis as a bunch of people are putting in money expecting returns.

[needFREElunch]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

I think cex.io has been paying out well and hasn't crashed so I don't think thats a ponzi, since they also do the best mining pool ghash.io
Most other ones you can be on being a ponzi however

Its no Ponzi but they keep a rough 80% of your minings as a fee

and a very good one is genesis mining

80% that is a lot. What is the fee on genesis mining as you recommended it?

[bachel]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

I think cex.io has been paying out well and hasn't crashed so I don't think thats a ponzi, since they also do the best mining pool ghash.io
Most other ones you can be on being a ponzi however

I guess I could see them being ponzis as a bunch of people are putting in money expecting returns.

gaw is a ponzi because they dont mine

add cex.io you can request your mining power in physical hardware

genesis I dont know if you can request hardware but they have a proofed realtionship with spoondolies tech

[needFREElunch]

I dont think so because there is a risk of scam. There are so many examples here about cloud mining sites closing down with everyone bitcoins, its just worth it.

Also problem is, since most cloud mining sites are ponzis, but they actually have quite low payouts so the risk reward isn't very good. I would not do it if I were you

Do you have any proof of cloud mining sites being ponzis?

I think cex.io has been paying out well and hasn't crashed so I don't think thats a ponzi, since they also do the best mining pool ghash.io
Most other ones you can be on being a ponzi however

I guess I could see them being ponzis as a bunch of people are putting in money expecting returns.

gaw is a ponzi because they dont mine

add cex.io you can request your mining power in physical hardware

genesis I dont know if you can request hardware but they have a proofed realtionship with spoondolies tech

Request your mining power in physical hardware? So they send the hardware to you or like a picture? If so that would be pretty cool.

[bachel]

its 0,002 cents per 5 or 10 ghs yes I can recomend genesis using them for a rough 7 months now and never had a issue only negativ is for me that they payout when ever they want during the day sometimes 8pm sometimes 8am sometimes 1 am and so on but they pay every day


cex.io actually send you the hardware not a picture still you will not make a profit with cex.io only good thing with them is buying btc wit a credit card