Topic: Cloud Mining Scam or legit - page 4. (Read 5134 times)

You're supporting your locals? I thought all their miners are supposed to be in Iceland.

Genesis Mining Ltd. Chinachem Century Tower, 31/F, 178 Gloucester Road, Wanchai Hong Kong.
Very local, indeed

Cloud mining is a scam, that's all there is to say.

There are actually a few legit paying cloud mining sites out there e.g. hashnest although that doesn't guarantee you that they will remain like that always so my advice will always be to stay away from cloud mining sites as much as possible. Also experiencing problems with them should be expected so if you wanna try you have to be ready for it. Always invest an amount you can afford to lose although i think a person who profits on his first try will likely invest more on his second try.

i think the only legit cloud mining is genesis mining !
iam working with them since 2 years now and the owner is also from germany like me so iam supporting my locals

Genesis mining has many video proofs of there mining in iceland !
I like them a lot and get great paymens every day ! mind payout at moment is 150 000 Satoshi its mined fast if you own some ghs there!

kind regards

Don't collect from faucets, you will waste your time. Better invest 100$ and buy bitcoins for it, it will spare you half year of useless clicking.
There are ponzi scams - they will tell you that they are mining but actually they are only depending of new depositors.
And there are real companies where you will reach ROI very hard and it is not worth of money.
Find other ways to earn bitcoins.

in most cases, it's a scam, in a more less often cases they can't keep up with the difficulty and just can't pay out therefore a failed investment. Stay away from cloud mining, it was a thing a few years back but now, I can surely  say that 95% of cloud mining services are a scam. That time has passed.

Legit? How can you say such thing since they are just on ICO or funding period which means its still no operating.How would you compare this cloud mining in genesis or hashflare? Most cloud mining sites are scam or ponzi.
If you do tend to join on those operating i would say it wont really be worth it at all if you do trying to check mining difficulty for sure profits would really be affected when it tends to rise up.As a newbie i would really discourage op not to join on this one.I know you are wearing companies signature but it his own choice if he would decide to put up money on that.

There are many sites are now scam that is why more people doesn't want to invest in this kind of method but there are also legit cloud mining site, just try to invest in Ice Rock Mining you can found the link in my signature this is new but it has a great project and i feel that it will last long that is why more investor will be get profited in the long run.
But i advise that just invest the amount that you can afford to lose specially we are in online investment we do no hold anything than few letter of our account and password. This is one of the risky method but it could return profit.

most of cloud mining is scam but,, there are legit cloud mining such as genesis mining, hashnest, hashflare,
but for hash flare not recomended coz only 1 yeras contract

No it's not scam. It's pretty clear bussines model that works but was misused multipletimes to scam people.

I think it was around 2015 when a big boom in cloudmining started and so many doubtful cloudmining services appeared  (most of them was just ponzi schemes). Lot of people fell in and got robbed. Thus marked all cloudminings as scam.
This would never happen if people would investigate a bit more.

Two big red flags are: affiliate system and free hashes to start. Once you these two it's 99.9% scam.
Secondly you should investigate whether the company is actually mining. Anybody can claim he is mining but unless proves it you cant trust him.

Hasnest, BW and bixin (those are the only cloudmining I trust) are really mining BTC ( you can check it using any chain explorer).
Moreover hashnest and BW are ASIC manufacturers (which makes me sure there is no scam attempt at all).

in my opinion, cloud mining is not scam because i am getting ROI with them but some of them is scam. you can choose cloud mining which is recommended by members here and still be careful if you decide to invest with them. each people have different opinion because we have different experience. maybe i can say cloud mining is not scam, but the other people will say that cloud mining is scam. i hope you don't become confuse and its better you thinking before invest in cloud mining or other programs.

Just go with the Minergate review about cloud mining. They are one of the classic cloud site which provides the mining option. Please go with the Radeon cards mining which cost little low than the amount you have to invest in ASIC mining set up. Get profit delay and all fine but you will be scammed by them.

Cloud is often used for deploy web and database applications. Mining would need CPU & GPU intensive tasks which is not suitable for those system.

I agree with you, it's not all mining site are scam like hashnest that's the only mining site we've already know is legit. And that like what you said  its too long to take our money back. And yes your right much better to trade our bitcoin rather than invest to investment site.

Almost all are scams or ponzi always or some dont even work but some works but it is not profitable wasting time and rigs to that business electric bill will increase as well you cannot even have your capital on starting  even in 2-3 months truly a waste of time only certain coins can be mined and as i said so not profitable  but if you have mine earlier in year it would have been easy and profitable that time but this kind of work is just like faucets

In my opinion, not all cloud mining sites are scam. There are legit ones also. For example genesis mining is a legit site. Last year I deposited nearly 600 dollars in that and they are still paying me. So I can confirm that its a legit site. One thing you should  keep in mind. It will take a long time to reach your roi in bitcoin. Since I invested in fiat currency, I was able to reach roi within 8 months.

I will assume that you will actually read these posts, so I'll answer your question



according to wikipedia

"Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner. There are many cloud mining scams.


Types of Hosting

Users of hosted Mining equipment can either lease a physical mining server or a Virtual private server and install mining software on the machine. Instead of leasing a dedicated server, some services offer hashing power hosted in data centers for sale denominated in Gigahash/seconds (GH/s); Users either select a desired amount of hashing power and a period for the contract or in some cases can trade their hashing power.

Pros and Cons

There are several advantages over the normal home-mining.

Pros:

A Quiet and cooler home
Lower electricity usage
no need to manage the equipment - no need to repair and no need to configure the hardware


Cons:

Management Cost - cost for the maintenance of the equipment
Lack of control - most providers don't offer the possibility for one to choose their desired mining pool
Security – some cloud mining service providers have turned out to be ponzi schemes

https://en.wikipedia.org/wiki/Cloud_mining

"
this is cloud mining:


https://www.genesis-mining.com


this https://www.skycoinlab.com is not cloud mining.
was ponzi and became scam




cloud mining (legitimate cloud mining) are not profitable, you invest bitcoin and spend months or years and see no profit

This is based on my experience so be aware of it. I'm pretty sure that 90%-95% of these cloud mining sites are scam. They are just getting money from the newcomers to provide payouts for the old ones and once they hit their target "profit", they'll just vanish in thin air without any trace leaving their current investors/users without any money. I experienced this first-hand to almost all of the cloud mining sites that I invested in. Lesson learned from those experiences and I will never put my money (BTC) again to those scam sites. Don't get fooled by other people saying that they are legit because more often than not, they are also invested in it and would just want to have an exit as soon as possible.

Nothing last forever even those cloud mining giants would really have the time to close their service.We don't know on when but for sure as mining difficulty rise they less profit or money they would made would possibly make their company close.This is why investing or putting up money on these cloud mining isn't really a wise thing to do its much better to find another investment than minding on this one.

I don't really see any way that this is different from all the other Cloud mining Services out there. It looks like it may have started with a handful of equipment moved up from there but this is pretty much the way the most cloud nine eight starts off. What exactly can you say that's going to make us trust this company more than any other company out there.

They are not true miners they are Ponzi schemes and the people offering that will always act as if they are mining but they are not really.


Sometimes they will mine but they will not return you your money because they will be using that money for their is rig and to make it bigger one. There have been so many big players in the industry but unfortunately none sustained for longer period than expected. They all just disappeared in the thin air and scammed everyone involved.


The genesis and hashflare, these were the good players but unfortunately they look like frozen too now and they have lost the trust dye to ultra negative reviews around the forum itself.