Cloud Mining Scam or legit | Bitcointalksearch.org

CryptoMinerrr

newbie

Activity: 1

Merit: 0

Quote from: manchester11 on October 03, 2017, 02:35:49 PM

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

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lablab03

full member

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For a newbie i suggest to search first using the search bar of this forum instead of making existing thread to prevent spammers. Sorry for interrupting i just want to help you out with easy steps to obtain more information based on your question. Regards

Darklinkz

full member

Activity: 448

Merit: 100

Quote from: oyinkansolaberry on November 07, 2017, 07:15:56 AM

I think it will be very unfair to categorically state that cloud mining is scam. there are so many mining sites that are out to scam people of their hard earned Money, so also there are a few legitimate ones that will deliver on their promise.

I don't think so. They might be operating for a while but the thing is they want it to grow bigger and you fell on their trap thinking they seems to be more legit because they lasted for few years but they are just waiting for the right moment accumulating much money before they disappear.

oyinkansolaberry

member

Activity: 87

Merit: 10

I think it will be very unfair to categorically state that cloud mining is scam. there are so many mining sites that are out to scam people of their hard earned Money, so also there are a few legitimate ones that will deliver on their promise.

aoihs00

sr. member

Activity: 700

Merit: 300

Let me add my another legit and profoundly studied vote - NO.

This question is being asked over and over agin and people making too many threads for it. I think these guys should read the threads first and then ask about it. Anyway why I understand from the cloud mining, once more, that its not legit because it is not affordable for those so called virtual cloud miners to pay you once there is payment day which is daily usually. There were use to be good sites like hash flare and genesis but they went down with disappointment because of few updates they release recently (month ago). In general its hard to get these ponzi schemes to pay you so its better to stay away from it.

entrepmind23

sr. member

Activity: 644

Merit: 261

If the site is paying a too good to be true rate then more often than not, it is scam. I have been scammed before by a "cloud mining" site that's why I don't invest on them anymore and I realized that most if not all are just scam anyway. Many are enticed to invest on it because there is no hard work to do. You just invest and after sometime you will get the interest of your investment. Some cloud mining sites offer 10% a day return which is just unbelievable and from the moment you saw it, you know it is just scam but many are still attracted to invest because they are paying. They are paying at first to attract more investors that would testify that they are paying but after maybe weeks or a month, they would suddenly be gone and re-appear again with another site name. If you value your money then better learn trading because that's where you can earn significant amount of money that is legit.

Billy055

newbie

Activity: 4

Merit: 0

I hope they are legit since I just bought some HIVE via robinhood....

Never been able to make much mining myself it seems to me that many or even all the cloud-mining is actually ponzi-type activity but Genesis seems to be actually doing something that you can get a cut of for some cash in advance....

I once bought 5 shares of GBTC for 240 total and sold them for about 550 each....Silly I should have saved them they are only going up...
But now I am into HIVE (not on the NYSE when I bought them, but they are now.....) and so far we are only going up up and away....

Nfp

member

Activity: 168

Merit: 14

Based on my learnings to this forum. What i mostly read is so bad about cloud mining. There's no one who trusted this cloud mining company. Because they said its all scam. So i think cloud mining is not legitimate.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: richardsNY on November 05, 2017, 02:06:50 PM

Quote from: HarryKPeters on November 05, 2017, 01:52:46 PM

Hold bitcoin and you will thank me later.

It's not for nothing that people are constantly looking for ways to invest their coins. Their main target is to increase the number of their coins, and in order to achieve this, they are going pretty far. Investing in cloud mining is an example, investing in ICO's, casino bank rolls, etc. In easy terms, holding isn't an option for them. I have even seen people refer to holding as being boring. It just shows how greedy people are here, and for that reason they will ignore everything we tell them to avoid. It's their money that they are burning through this way (i.e. capital destruction).

You cant blame those people who do really like to risk their money rather than on idle state.We can say that they are dumb and wasting up money but atleast they do tried out.I have experienced before when i was still a newbie investor which do have limited knowledge i did able to experience where i do tend to invest on cloud mining sites because i do see the profitability but later on i did learned after the consequence that i did experience.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: HarryKPeters on November 05, 2017, 01:52:46 PM

Hold bitcoin and you will thank me later.

It's not for nothing that people are constantly looking for ways to invest their coins. Their main target is to increase the number of their coins, and in order to achieve this, they are going pretty far. Investing in cloud mining is an example, investing in ICO's, casino bank rolls, etc. In easy terms, holding isn't an option for them. I have even seen people refer to holding as being boring. It just shows how greedy people are here, and for that reason they will ignore everything we tell them to avoid. It's their money that they are burning through this way (i.e. capital destruction).

HarryKPeters

hero member

Activity: 896

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Live Stars - Adult Streaming Platform

I would advise to hold your bitcoin instead of cloud mining.
So far all the cloud mining companies I tried were scams: GAW, LTCGEAR, Genesis Mining, hashie all use customer funds and eventually run away. Or offer you anything but ROI.

Hold bitcoin and you will thank me later.

barota

sr. member

Activity: 1176

Merit: 286

personally I do not like investing in mining sites For several reasons such as the slow rate of profit or the long period of return of capital

felipe04

full member

Activity: 308

Merit: 100

Quote from: manchester11 on October 03, 2017, 02:35:49 PM

I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that

I would just like everyones opinion on it if that is ok

So is cloud mining a scam yes or no

Reasons why appreciated

Many Thanks

its legit but there's a limit in cloud mining because its turn to scam after a weeks or months.I think invest your money in cloud mining is good when its new but some are really legit and they back your money if their site are already none profit like entrade.org and eobot mining this two is legit but they already gone and they back the money

DarkbLue

full member

Activity: 196

Merit: 101

Cloud mining cannot be profitable! Try to think the simpliest thing. If it would be profitable, cloud miners would themselfes be their best customers! That is so simple...

InvisibilityFP

member

Activity: 546

Merit: 11

DocTailor IEO on Zloadr

there are a scam and there are legit
dont thrust cloud mining give u free GH/s, high recomended
1.genesis mining
2.harashing24
3.hashnest
u can review that 3 above

posesion19

full member

Activity: 154

Merit: 100

Most of cloud mining is maybe scam , but some cloud mining maybe legit and profitable.
But becarefull , they will be a scam site sometime.
When they got popular they will scam the customer and never withdraw your money.

scott btc

sr. member

Activity: 356

Merit: 250

Quote from: Oakey22 on October 19, 2017, 02:23:09 AM

Most are a scam and the ones that are not, well the profit is not what they promise when you first sign up

It's hard to choose the legit one, but if you ready to let your money gone it's your choice Cloud Mining is Ponzi scene, high risk high profit

bhooscream

full member

Activity: 728

Merit: 117

How about cryptomining.farm?
I've been registered since 2014. And now they are still alive.
I was withdrawn some money from there.

Oakey22

sr. member

Activity: 489

Merit: 322

Most are a scam and the ones that are not, well the profit is not what they promise when you first sign up

sulendra12

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Reward: 10M Shen (Approx. 5000 BNB) Bounty

Genesis Mining probably is a one site that still paying till now. Although, it takes maybe a year to pass the ROI because Bitcoin difficulty and halving. The rest are scam and you shouldn't ever touch and invest on those sites, because they are clearly scam.

Topic: Cloud Mining Scam or legit (Read 5166 times)