Thats why we are trying to make the first decentralized cloud mining platform, and I wish for the day that all major cloud mining sites, untrusted ones to use this approach, when you place contracts in the blockchain and force payouts and ditch the hardware its more safe for everyone, since they are ponzi anyway, why not have it at least safe?
Topic: Cloud mining. advantage and disadvantage (Read 776 times)
1. Electricity costs remain manageable, as opposed to the case of hardware mining. This is because of the power intensiveness of mining rigs, which almost double electricity bills.
2. Mining farms can be irritatingly hot, a situation that is unheard of in cloud mining.
3. The exasperating noise of cooling fans is avoided.
Cons:
1. Unfortunately, the cloud mining industry is marred by fraudsters. A lot of investors lose their money to scammers.
2. With cloud mining, the sense of self-satisfaction of building a mining rig is absent.
3. Mining companies can abruptly shut down operations when profits diminish.
2. Mining farms can be irritatingly hot, a situation that is unheard of in cloud mining.
3. The exasperating noise of cooling fans is avoided.
Cons:
1. Unfortunately, the cloud mining industry is marred by fraudsters. A lot of investors lose their money to scammers.
2. With cloud mining, the sense of self-satisfaction of building a mining rig is absent.
3. Mining companies can abruptly shut down operations when profits diminish.
wow thank you guys. everything is negative lol. thank you for the advises for newbie like me. I'll look for other ways to earn. you're the best guys! 
Try to reach Member or Full member rank. It'll easier to earn money in this forum 
wow thank you guys. everything is negative lol. thank you for the advises for newbie like me. I'll look for other ways to earn. you're the best guys!
You have to invest a large amount and it take very long time to get back your invest 
). Nowaday It's really hard to find a reputable cloud mining website. If you wanna try cloud mining I think eobot.com is ok
). Nowaday It's really hard to find a reputable cloud mining website. If you wanna try cloud mining I think eobot.com is ok 
Hi everyone I don't have money to buy mining tools thats why i end up in cloud mining. I just want to know the advantage and disadvantage about it.
answer:
@mrcash02
"DISADVANTAGES:
- You don't recover the same amount of coins you invested;
- ROI takes much time;
- Most cloud mining sites are Ponzi HYIP schemes.
"
ADVANTAGES:
none
Is it worth it?
Few investments give good returns and cloud mining does not give good returns... look for other investments
Do you have strategies?
I do not know
Do you know the best site to mine?
Maybe hashflare
Cloud mining is not a profitable way of earning bitcoin these days. Cause all of this newly created cloud mining sites are all scam. There is no even advantage when you join in mining sites.
All cloud mining sites is just scam!!! Avoid them 
Correction: All FAKE cloud mining sites is just scam!!! Sadly it's most of them ... once you see they offer free GHs to start you'd better stay away.
Real companies like BW, Bixin or Hashnest are honest, nevertheless the profitability is disputable.
I have been able to make profit with hashnest but mostly due to constant buying and selling Ghs as the price is changing a lot (mining revenue was just cherry on top)
PROS: easy to use, you do not need to care the maintenance issues
CONS: it's IOU (they can disappear without warning)
All cloud mining sites is just scam!!! Avoid them
DISADVANTAGES:
- You don't recover the same amount of coins you invested;
- ROI takes much time;
- Most cloud mining sites are Ponzi HYIP schemes.
ADVANTAGES:
...
_______________________________________________________________________________ __
Don't invest in cloud mining, you make much more profit just by holding your Bitcoins or any other currency. Makes no sense to pay to mine a lower amount of coins you paid. Cloud mining is just a trap investment to take newbie's money.
- You don't recover the same amount of coins you invested;
- ROI takes much time;
- Most cloud mining sites are Ponzi HYIP schemes.
ADVANTAGES:
...
_______________________________________________________________________________ __
Don't invest in cloud mining, you make much more profit just by holding your Bitcoins or any other currency. Makes no sense to pay to mine a lower amount of coins you paid. Cloud mining is just a trap investment to take newbie's money.
Cloud mining is never advantage it is always a scam or it is profit for the persons who are running because even if the could mine is genuine but the ROI is very long because you are paying for all expenses and at the end your profit end to zero or only 1 or 2 percentage. So it is better to go for trading or just hold your bitcoins for long and you will see the valuation growing.
Ask yourself a question. Why would anyone rent you the use of their mining equipment if they were not making more money doing that than mining for themselves?
Cloud mining groups have the benefit of lovely big places to put the miners in and more efficient use of the machinery than you would have mining with a bashed up S9 in your basement. The problem is that I can't think of a single current cloud mining provider which doesn't just take this extra profit themselves (and a significant chunk of the rest of your money through a slow and complex process). The concept of cloud mining is bad in that it is pro-centralisation, but a legitimate cloud mining site could exist (not that I can think of one right now).It'll look really nice what you're getting at first OP, and you might have some nice "returns" at first, but the chances are it'll never actually reach what you put in, and if it ever does it'll be a really long time from now when the hashrate you bought hardly does anything anymore. The thing is that you'll receive a high dollar value, but the Bitcoin value (or invested altcoin) will probably not actually reach what you put in.
In its current state, cloud mining is a bullshit system and no one should be investing, nor spamming reflinks like some idiots enjoy doing.
Even back in the day, it would have been more profitable to just buy BTC than cloud mining.
Ask yourself a question. Why would anyone rent you the use of their mining equipment if they were not making more money doing that than mining for themselves?
Ask yourself a question. Why would anyone rent you the use of their mining equipment if they were not making more money doing that than mining for themselves?
Hi everyone I don't have money to buy mining tools thats why i end up in cloud mining. I just want to know the advantage and disadvantage about it. Is it worth it? Do you have strategies? Do you know the best site to mine? Thank you everyone
Today, not so much. You could profit with cloud mining back in the day as Idid with CEX.IO but today you'd need a huge investment and quite some time to wait. If I were you, I wouldn't be investing in any cloud mining service because most of them are scams and the ones that aren't just aren't profitable anymore.
Hi everyone I don't have money to buy mining tools thats why i end up in cloud mining. I just want to know the advantage and disadvantage about it. Is it worth it? Do you have strategies? Do you know the best site to mine? Thank you everyone
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