Another proof that cloud mining is a scam - page 5.

KennyR

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Quote from: alisafidel58 on March 20, 2019, 06:14:15 AM

Quote from: Baofeng on March 13, 2019, 03:05:19 PM

Quote

https://www.reddit.com/r/Bitcoin/comments/b09lxr/beware_nuvoo_is_refusing_to_payout_mined_btc/

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Well, its 2019 and people still don't know what cryptocurrency is. Not everyone knows Bitcoin or Crypto Currency that's why they fall for such scam. If everyone knows this forum then they will get educated about cloud mining.

There are users who have been making an earning out of cloud mining. It got termed to be a scam when they started to promote with a profit that isn't possible to be achieved. During the early days of cloud mining the difficulty of the network is low and mining happens big. Now the scenario is different and the same makes almost everyone of the cloud mining a scam.

alisafidel58

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Quote from: Baofeng on March 13, 2019, 03:05:19 PM

Quote

https://www.reddit.com/r/Bitcoin/comments/b09lxr/beware_nuvoo_is_refusing_to_payout_mined_btc/

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Well, its 2019 and people still don't know what cryptocurrency is. Not everyone knows Bitcoin or Crypto Currency that's why they fall for such scam. If everyone knows this forum then they will get educated about cloud mining.

rahmatullah9305

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Most of them make money by tricking other people. example: like a cloud mining maker, by giving a return on capital and greater profits.
I hope no one has been fooled this year by the cloud mining site. because they are fake websites that can endanger crypto users.
especially for beginners, because you are very quickly caught up in their seduction. Remember that in the crypto world there are no rich people quickly.

Innerpumper

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Quote from: Baofeng on March 13, 2019, 03:05:19 PM

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

some of today's dominant bitcoin rose umpteen percent in coinmarketcap this marks the entry of some investors for funds to bitcoin

Pffrt

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It's nothing new. You will find it all the time everywhere. Scammers are always there. We are aged in this market and that's why we will not be deceived. But new comers in crypto space are the victims. They don't know anything about the situation and that's why they fall in the trap of this scammer.

tegarp90

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Quote from: Baofeng on March 13, 2019, 03:05:19 PM

Quote

https://www.reddit.com/r/Bitcoin/comments/b09lxr/beware_nuvoo_is_refusing_to_payout_mined_btc/

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Actually it was not scam, but when the mining fee got higher and the price of bitcoin getting down.. So yeah..
I got like 3 times of my investment back in 2017 on hashflare.
But now, every cloud mining are almost scam Sad

AjithBtc

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Quote from: ahmadinejad93 on March 17, 2019, 01:02:35 PM

in my opinion many who think to produce bitcoin with cloud mining is very easy and fast. Especially for beginners who are new to the world of bitcoin who want to get rich quick. Grin

including me who joined cloud mining in 2017, it turns out cloud mining is just a scammer.

We cannot deny that mining isn't possible through cloud. What's been done through hardware mining is possible through cloud. But, through hardware based mining we are supposed to pay electricity charges and on initial investment. With cloud it is not possible to provide with low investment and regular spending. People lack in this understanding and gets scammed.

ahmadinejad93

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in my opinion many who think to produce bitcoin with cloud mining is very easy and fast. Especially for beginners who are new to the world of bitcoin who want to get rich quick. Grin

including me who joined cloud mining in 2017, it turns out cloud mining is just a scammer.

shield132

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The statement that cloud mining is scam doesn't need any more proofs, it's as easy as abc to understand that it's scam. At first imagine, why will someone mine for you while they can mine for themselves? If it's hard to understand for you, then imagine this: Why will someone print money for you while they can print it for themselves?
Cloud mining companies get great profit, you pay fixed money for hashrates, they get it, mine, charge you electricity and equipment's fees and finally you never ROI. Everyone works for their own benefit, not for your.

talkbitcoin

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All I know is that I know nothing.

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Cloud mining was good 1-2 year before and in old time but now for sure cloud mining is bad for all investors ,it is good only for people which get money from referral systems but then that people are liars which will be forgotten and be dissapointed later when their referrals lose so then they will build harder team in some new normal project.

the thing about scams and ponzi schemes is that their failure (the time when they run away) has no clear deadline so you can't say it was 1-2 years before and it is not shorter or something like that.
it all depends on how many people they can scam and for how long. a ponzi scheme can run for 5 minutes before it goes belly up or it can go on for years while scamming thousands of people.

and the most important thing to remember is that you can never beat the system. so don't even try to do it.

kamBlanV

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yes. some cloud mining can give us profit from our investment. Most of the Cloud Mining service providers pay their old customers from new customer contracts that come to join. In general, a concept like this is the Ponzi concept. If the provider of the site provider is hiding behind Whois privatization (WhoisGuard), or does not provide an identity, it needs to be watched out.

Twinkledoe

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If you are an old timer in crypto, you won't believe any promises of these cloud mining services. They are the only one gaining from this platform. Have you ever heard a person getting his ROI from this kind of investment with the time period they promised? Or have you ever known a person invested in this that really got his initial investments?

Xalata

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I have so many reports about how most cloud mining platforms are scams. I don't actually know why some people still believe in cloud mining upon all the numerous warnings that have been given by some community members. It is better in my opinion to go into day trading other than mining of cryptocurrencies.

MakeMoneyBtc

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Quote from: Baofeng on March 13, 2019, 03:05:19 PM

Quote

https://www.reddit.com/r/Bitcoin/comments/b09lxr/beware_nuvoo_is_refusing_to_payout_mined_btc/

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

Honestly I think we have more than enough proof needed to declare cloud mining a scam. There have been a lot of projects existing that tried to prove cloud mining could actually be a profitable business for everyone but unfortunately all of them failed even though they were online and active on the market for a few years. This only proves us that cloud mining is one of the biggest scams in cryptocurrency world and they should no be trusted

prasad87

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Eh, some businesses in the niche are scams, agreed. But most are simply good businesses for the owners, bad for the clients - but nobody is forced to become their client, after all.

eaLiTy

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Quote from: Baofeng on March 13, 2019, 03:05:19 PM

I really don't understand, it's already 2019 and people are still believing that cloud mining is still one way to earn and the best way to invest your money??? *face-palm*..

I am seriously not sure how people still invest in cloud mining sites as they can simply calculate the returns before investing and how long it will take to reach a break out profit, if they find it too hard to calculate there is no point in advising them either as they will not understand the basics, they will learn the hard way instead, cloud mining is not a wise investment but there is nothing wrong in having some fun, you could purchase the coins with that money instead of wasting it.

BeGoods

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Quote from: BitBustah on March 14, 2019, 12:22:37 PM

Its not really a scam but the likelihood of making a profit is slim. A scam would be more like them just stealing your money and never doing anything. People will always fall for these advertisements as much as you want to prevent them from getting sucked in.

Online minning does not provide a big advantage to the owner if you they a real system using miner tools, so why would they prefer to use the ponzi system because they do not have to bother maintenance mining tools, and certainly much more profitable, because they can scam at any time. so be careful..

ryap12

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Quote from: tetyulfania on March 13, 2019, 10:59:20 PM

How come you said cloud mining is scam, did you see many people have raised much money with cloud mining and they have build highest mining project and keep it for the future, but right now is not good time for cloud mining.

It is scam tetyulfania. It is very similar to pyramid scheme where only the first people who invest will benefit the most. Once the scammers meet certain requirements, they will stop approving withdrawals and would just run away with the money from the newest investors. There is no other way for cloud mining to profit that much but through referrals.

imstillthebest

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Quote from: agatha90 on March 15, 2019, 04:05:01 AM

Maybe they have never experienced losing their money. And also most people who believe are those who still don't understand the world of crypto good or bad

Not all who invest in cloud mining sites are noob . i witness alot of experienced and pro traders that also invest on cloud mining because they wanted to earn extra income . others can earn while other lost but there is no problem with it . they are aware that all types of investment do have a risk . thats why we have a golden rule which is " invest only what you can afford to loose "

Furthermore , not all cloud mining sites are scams . there are also legit but they take a lot of time before you can recover your roi .

agatha90

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Maybe they have never experienced losing their money. And also most people who believe are those who still don't understand the world of crypto good or bad

Topic: Another proof that cloud mining is a scam - page 5. (Read 1248 times)