Topic: Advice for new users regarding CLOUD MINING (Read 44146 times)
Haven't bumped this for a year, just a warning for new users. Please do extensive research before giving away your money to somebody who promises to give more back to you. It's quite easy for crooks to have somebody code a fancy website, post some fancy pictures, and make a fake website. It's much riskier for people to actually file as an operating corporation with their local/state government as that opens them up to prosecution for fraud and other crimes.
I am seeing more cloud mining offers pop up again 
so I'm going to bump this and hopefully save some NEWBIES some heartache.
so I'm going to bump this and hopefully save some NEWBIES some heartache. 
Looks like another cloud is defaulting. Cyrptomining.farm is failing to make payments: https://bitcointalksearch.org/topic/cryptominingfarm-no-longer-paying-5040529
Why I'm not surprised? In fact I don't know any cloud mining service that was actually legit and made to keep their business. At the end all users of such services lose their money.sooner or later.
That is why I always say that to keep away from cloud mining is the best decision you can make. But still there are always people who will fall for their tempting offers.
be the possible circumstances we would faced up in the end. I didn't even expect that there are still some scammy cloud mining sites as of today yet they
had already been bust up already but still peoples greed will always be the reason for this scammers to continue to pop up.
One feature typical of most scams besides the most obvious things most people notice on the surface include the site requiring a deposit in order to withdraw funds, something that happened in the thread linked.
Looks like another cloud is defaulting. Cyrptomining.farm is failing to make payments: https://bitcointalksearch.org/topic/cryptominingfarm-no-longer-paying-5040529
Why I'm not surprised? In fact I don't know any cloud mining service that was actually legit and made to keep their business. At the end all users of such services lose their money.sooner or later.
That is why I always say that to keep away from cloud mining is the best decision you can make. But still there are always people who will fall for their tempting offers.
be the possible circumstances we would faced up in the end. I didn't even expect that there are still some scammy cloud mining sites as of today yet they
had already been bust up already but still peoples greed will always be the reason for this scammers to continue to pop up.
Looks like another cloud is defaulting. Cyrptomining.farm is failing to make payments: https://bitcointalksearch.org/topic/cryptominingfarm-no-longer-paying-5040529
They never even pretended to mine, it was this "virtual mining" bullshit.
Looks like another cloud is defaulting. Cyrptomining.farm is failing to make payments: https://bitcointalksearch.org/topic/cryptominingfarm-no-longer-paying-5040529
Why I'm not surprised? In fact I don't know any cloud mining service that was actually legit and made to keep their business. At the end all users of such services lose their money.sooner or later.
That is why I always say that to keep away from cloud mining is the best decision you can make. But still there are always people who will fall for their tempting offers.
Looks like another cloud is defaulting. Cyrptomining.farm is failing to make payments: https://bitcointalksearch.org/topic/cryptominingfarm-no-longer-paying-5040529
thank's for this information to your post .I have benefited a lot from your post . I will avoid it myself & say others.
The aftermath of Hashflare's exit is bound to send a negative vibe down the spine of pro-Cloud mining supporters. I don't think we should still give opportunities to ripoffs, scams, and HYIPs, all in the name of cloud mining.
It is always suggestible to the Newbie because most of the Newbie will always think to make money fastly but cloud mining is waste for investment. Already we have seen many scams from this cloud mining and they are not profitable at all. This thread is the best guide for the Newbie.
Me too and I just started my crypto journey back in 2017 but I already witnessed hundreds of them getting reported in their fb groups or forums realted to crypto that they have been scammed. Maybe the safest way to get into mining business is to find miners near your place or country who really operates and then make a deal with them.
I think Bitcoin is a good option to investing in today's time. Because in bitcoin we have good profit in less time. If we invest in Bitcoin, there is also a risk to it. Because Bitcoin prices are rising up and down every day. And anyway we do whatever investment places. There is also a risk. Therefore Bitcoin is a good option for investment.
Good luck all BTC member.
Good luck all BTC member.
My advice for new users that wants to start thier journey in cloud mining is to not start all . why i could say that ? Well simply because all cloud mining are type of pyramid sheme that will only end up on scam if they already reach thier targeted profit .
At first , you can always get paid by them but eventually you will notice that there are now issues regarding on their service and you will shock one day that their site is already shut down .
So if you dont want this to happen , youd better follow my advice .
At first , you can always get paid by them but eventually you will notice that there are now issues regarding on their service and you will shock one day that their site is already shut down .
So if you dont want this to happen , youd better follow my advice .
You would be surprised at the number of cloud mining "companies" that never even paid out users. Often times it was just one guy who would make micropayments for a few days to all users with no actual mining equipment. These scammers would simply make up a name and a website with a payment address, make a signature campaign, have a bunch of new users spam the forum with the stupid signature ad nauseum. New users would sign up and pay for a small contract only to find out there was no company in the first place.
My advice for new users that wants to start thier journey in cloud mining is to not start all . why i could say that ? Well simply because all cloud mining are type of pyramid sheme that will only end up on scam if they already reach thier targeted profit .
At first , you can always get paid by them but eventually you will notice that there are now issues regarding on their service and you will shock one day that their site is already shut down .
So if you dont want this to happen , youd better follow my advice .
At first , you can always get paid by them but eventually you will notice that there are now issues regarding on their service and you will shock one day that their site is already shut down .
So if you dont want this to happen , youd better follow my advice .
DrG has definitely worked real hard in building up this thread and I must say that it's a must read for newbies if they're looking to invest in cloud mining contracts.
Please do keep updating this thread @DrG! This industry is still young, even though you've been around here for 7 years (so it might not look very young to you) but yes, it's still young. Newbies are still flowing into crypto everyday and they do require advises and tips like the ones provided in this thread by you.
BTW, I wish I had read this thread when I wasted off my tens of bitcoins blindly at CLDMine (which later proved to be nothing more than a ponzi) in 2015-16.
Please do keep updating this thread @DrG! This industry is still young, even though you've been around here for 7 years (so it might not look very young to you) but yes, it's still young. Newbies are still flowing into crypto everyday and they do require advises and tips like the ones provided in this thread by you.
BTW, I wish I had read this thread when I wasted off my tens of bitcoins blindly at CLDMine (which later proved to be nothing more than a ponzi) in 2015-16.
Looks like Hashflare gets thrown into the hot mess that is cloud mining. https://bitcointalk.org/index.php?topic=4461608.60
The aftermath of Hashflare's exit is bound to send a negative vibe down the spine of pro-Cloud mining supporters. I don't think we should still give opportunities to ripoffs, scams, and HYIPs, all in the name of cloud mining.
It is always suggestible to the Newbie because most of the Newbie will always think to make money fastly but cloud mining is waste for investment. Already we have seen many scams from this cloud mining and they are not profitable at all. This thread is the best guide for the Newbie.
The aftermath of Hashflare's exit is bound to send a negative vibe down the spine of pro-Cloud mining supporters. I don't think we should still give opportunities to ripoffs, scams, and HYIPs, all in the name of cloud mining.
Most of the Newbie user don't have much confidence and ready to learn about the cloud mining because they will bother about the earnings and this is a very good guide for them not to invest in cloud mining. It is a very risky one investing in cloud mining and many newbies lost their money after investing in cloud mining. so it is always good to stay in the cloud mining.
Just bumping this up because I see a lot of newbies talking about cloud mining to get around mining at a loss.
Cloud mining.... don't. Just don't.
Cloud mining.... don't. Just don't.
Coming up on the 3 year anniversary of this thread and seeing the blood red waterfalls today what better time for some cheerful news.
The good news is that Genesis and Nicehash are not scammers. Everybody knows those 2 sites. Pretty much everybody else has either fallen to the side or confirmed to be a scam or ponzi.
With no risk there is usually no reward. But the presence of risk does not necessitate reward - and many of those listed on the first post just ran away with peoples money.
Do your research before you buy/invest - and if you're not sure.... let others test the waters before you jump in.... well unless money comes easy to you (pssst, please feel free to tip me then for no reason
)
The good news is that Genesis and Nicehash are not scammers. Everybody knows those 2 sites. Pretty much everybody else has either fallen to the side or confirmed to be a scam or ponzi.
With no risk there is usually no reward. But the presence of risk does not necessitate reward - and many of those listed on the first post just ran away with peoples money.
Do your research before you buy/invest - and if you're not sure.... let others test the waters before you jump in.... well unless money comes easy to you (pssst, please feel free to tip me then for no reason
)
I'm just going to bump this up for now after seeing lots of newbies asking about cloud mining. I'll come back and edit the OP after a review some of the scams that have progressed in the last year 
Interestingly though, some sites are still alive and kicking. Kudos to them for sticking it out when it would have been easy to take the money and run.
Interestingly though, some sites are still alive and kicking. Kudos to them for sticking it out when it would have been easy to take the money and run.
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