Can anyone show me where the cloudmining review thread is located? Search is temporarly disabled and i can't find it, don't even remember the subforum category.
thanks in advance
EDIT: Never mind, found it
May I know the link to the thread? I wanted a thread like that for a while now and I didn't even know one existed.
I'm fairly sure (although not 100% certain) that he's talking about this thread:
https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387Wasn't cloud mining increasingly less profitable? I remember one of the main cloud mining service providers went bankrupt or something.
Many cloud mining services have collapsed. As notlist3d said, GAWMiners was one, but PBMining was another one which was very popular and eventually ended up collapsing.
CEX.IO was the biggest one for a while. That one didn't go bankrupt or choose to scam but rather, they shut down* their mining operations since mining was no longer profitable given the low BTC price in 2015. They refocused their business towards being a Bitcoin exchange instead.
*Technically, this isn't completely true since customers still had the option to re-enable mining but as I said, it was no longer profitable so it became pointless to do so.
Wasn't cloud mining increasingly less profitable? I remember one of the main cloud mining service providers went bankrupt or something. What kind of money would one be investing to make profits?
Gaw I'm guessing is who you are thinking of. And I don't know if it's the profit they were just into lot's of scamy things.
They didnt pay electricity bill, had paycoin flop, possible legal trouble becuse of paycoin. They are not bankrupt yet.... but they have headed down a bad path.
This is why you need to go with someone reputable. And really put in some research into it. And it's not just cloud it's regular miners aswell. It just takes more time to ROI. The 3 month ROI is gone at this point.
GAWMiners actually had a fairly good score on that thread compared to many of the other providers. AMHash had a perfect or near-perfect score and ended up in trouble too. Researching the options beforehand is certainly a good idea, but it's not an infallible strategy since even the most reputable businesses can end up being scams.
