Topic: Cloud mining still profitable? - page 4. (Read 1106 times)
I don't use anymore cloud mining, i used in past and i was only on loss because i invest over 0.1BTC and i get only 0.07BTC back even if the contract when i start say that are for life they stop it and say is no more profitable to mine because of difficulty and electricity cost. So if someone want to join cloud mining will be hard to get profit in my opinion.
Cloud mining is typically a thinly veiled ponzi scheme. If you are interested in renting hashrate to spec mine altcoins (large coins not profitable since you are paying a premium), it is best to do so through a hashrate marketplace, such as Nicehash.
With that being said, if you are interested n mining you are best off handling the operation yourself.
Well said , I also think that cloud mining is just a ponzi scheme ,With that being said, if you are interested n mining you are best off handling the operation yourself.
I never trust a cloud mining site again since I lost in hashocean ,
I think if you really want to mine crypto then do it yourself don't trust in some investment sites .
It is better to do it on your own to experience it and gain some knowledge plus the investment that you made would be for a life time.
Don't ever try mining in cloud mining, you will never get profit because maintenance costs are higher than your profit. and cloud mining is prone to scams. so if you have capital, it's better to trade or buy your own mining rig.
You should not to trust cloudmining anymore because it's a scam for sure. If you are really want to mine cryptocoins you can do even it's hard instead of investing in cloudmining. Mining is best if you are going to your own not mining of others. Fot sure more people already out in investing in cloudmining.
Many people avoid cloud mining and this causes the miners to lose their current situation. Cloud mining is not always profitable, but many stop with a bad system or get a scam.
Cloud mining is a way to cheat investors, and it can be said that 99% cloud mining is a scam, this is what makes the market red because most cloud mining owners immediately move to USD when they receive a crypto deposit from user.
Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
today we rarely see a person can have profit from cloud mining, when we use cloud mining, free account will never be able to withdraw or just a very small, and most of cloud mining today are just scams and will never let us have more profit unless we invest huge money in that cloud, so forget cloud mining today, we can only use hardware mining. So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
In 2016 I would mining. I invested a small amount in a cloud mining company. Still an active firm. Not a very recommended method. I still can't reach the minimum amount I can pull.
I don't know that cloud mining still exists in this year.
I never saw it again since last year. This thing is gone day by day because people can't easily trust this cloud mining. Also, it is not too safe
I never saw it again since last year. This thing is gone day by day because people can't easily trust this cloud mining. Also, it is not too safe
It had gone silent since the hype about cloud mining had proven to be not that profitable. Cloud mining is somehow look as a ponzi scheme which most of us agree though there are legit cloud mining company that operates before but they had stopped the operation because of the profitability issue. In short, if one of the biggest cloud mining company stopped its operation, it simply means that cloud mining is not profitable anymore.
I don't know that cloud mining still exists in this year.
I never saw it again since last year. This thing is gone day by day because people can't easily trust this cloud mining. Also, it is not too safe
I never saw it again since last year. This thing is gone day by day because people can't easily trust this cloud mining. Also, it is not too safe
Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
No its not and if i were you?i will keep distance in this kind of newsSo, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
How many issues of cloud mining happens already and nost of those indicates of how risky cloud mining in this community.
i think they are not very reliable. If u get the income through the clouds to dig pits. then why don't they do it themselves? it is probably a scam.
There is no cloud mining currently profitable, I got an email from genesis mining and they stopped my contract on the grounds that mining is not profitable, it is better to invest in top ranked coins such as ethereum, EOS and so on.
Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
Very small profit and many of them will take advantage of you so better just find another alternative. This is not recommendable. So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
I don't know a lot about cloud mining but heard that they don't give a lot of profit. After reading the guys above, I just made sure with it
I don't trust cloud mining since mostly are fake and not worth it .it's just a wasting of time honestly , much better to become bounty hunter which no need to risk a money just participation and will get paid. Because base on my experience in some cloud mining site it's totally not reliable 'cause you must to upgrade your account first before you can process the first withdrawal .which is most common modus of some scam site .
Two days ago JPMorgan published information that Bitcoin mining is not profitable:
https://www.cbsnews.com/news/bitcoin-worth-less-than-it-costs-to-mine-jpmorgan/
If their calculations are correct, the cost of mining one Bitcoin is $4060 and the current price is around $3600
But this thread discussed about the cloudmining, if that's still unprofitable and how these miners are still mining the bitcoin? JP morgan seems missing a calculation about how much received as a validators in the bitcoin blockchain.https://www.cbsnews.com/news/bitcoin-worth-less-than-it-costs-to-mine-jpmorgan/
If their calculations are correct, the cost of mining one Bitcoin is $4060 and the current price is around $3600
If Bitcoin mining is not profitable at all, then it is logical that cloudmining can not be profitable even more.
I also do not believe in the correctness of their calculations, but if they publish such a thing, it means that they are interested in it and it is possible that something will happen soon.
i think they are not very reliable. If u get the income through the clouds to dig pits. then why don't they do it themselves? it is probably a scam.
Many people avoid cloud mining and this causes the miners to lose their current situation. Cloud mining is not always profitable, but many stop with a bad system or get a scam.
Hello, I have just found this website bitdeer.com, it should be a new cloud mining site with very good prices, they pay daily directly from official BTC.com pool. They should have direct partnership with Bitmain.
So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
No, always avoid cloudmining because bad system hide behind it. We all know cloud mining or mining itself not profitable anymore since long time ago. System behind it is always Ponzi / HYIP scheme.So, please, does someone use their contracts? It is still profitable? Or what about Genesis Mining?
Thank you.
Yes, you are right, cloud mining or mining any coin is completely waste when you compare with your electricity bill. Many people lost their money through cloud mining website and which those websites scammed people a lot, so it is very good to stay from those cloud mining websites.
Two days ago JPMorgan published information that Bitcoin mining is not profitable:
https://www.cbsnews.com/news/bitcoin-worth-less-than-it-costs-to-mine-jpmorgan/
If their calculations are correct, the cost of mining one Bitcoin is $4060 and the current price is around $3600
But this thread discussed about the cloudmining, if that's still unprofitable and how these miners are still mining the bitcoin? JP morgan seems missing a calculation about how much received as a validators in the bitcoin blockchain. https://www.cbsnews.com/news/bitcoin-worth-less-than-it-costs-to-mine-jpmorgan/
If their calculations are correct, the cost of mining one Bitcoin is $4060 and the current price is around $3600
Indeed, many people stop mining because they feel the loss, and cannot have profits. This makes people stop for a moment and take a better attitude and feel safer. Cloud mining is not always profitable, but it must be more beneficial.
when the market price goes down, of course, miners will not benefit. the cost of using the tool will definitely be greater than the price of the assets they get. it might be better if their mining activities stop briefly waiting for the market to improve and that will make mining more profitable for the miners. Jump to: