define what the best cloud mining? | Bitcointalksearch.org

cryptoaddictchie

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Quote from: Orwas on June 25, 2021, 11:43:08 AM

What do you think about cloud mining , i try it once and bought a virtual machine to mine monero token on minergate site but its very low hashrate and it has high fees , i need your help to find the best site to mine on cloud mining

I dont think cloud mining is efficient anymore and most think of this as a scam activity on crypto. I remember when I was a newbie and I was got hooked with one example of this and found my money gone that instant. So I swear since then that never put any funds on a ponzi scheme cloudming type of investment.

I also noticed how common the pattern on these projects. People should be aware that cloud mining isnt real mining but only a simulation and a ponzi scheme.

elabor77

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Cloud mining is full of scam sites and real companies ... You have to be very careful about choosing companies that really do cloud mining.
After losing a lot of money with genesis & eoobot a few years ago. In December 2020 I started cloud mining with a Chinese farm, as a precaution I only do mining contracts of up to 120 days. I receive payments every day. I can say that you have to be careful to choose the right time to buy contracts, otherwise you will lose money.The farm is bitfufu

carlfebz2

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Quote from: Orwas on June 25, 2021, 11:43:08 AM

What do you think about cloud mining , i try it once and bought a virtual machine to mine monero token on minergate site but its very low hashrate and it has high fees , i need your help to find the best site to mine on cloud mining

You would really expect that earnings using VPS wont really be that effecient nor just really a waste of time.Cloud mining is not profitable nowadays but if you do ask out about legit cloud mining long time running ones
then it would be;
-Genesis mining
-Hashflare

But you can find more on this list;
https://www.thebharatexpressnews.com/top-10-best-trusted-and-safe-bitcoin-cloud-mining-sites-of-2020/

Just remember that cloud mining investment isnt really worthy at all.

AhmadM

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Quote from: ?? on ??

There may be some of the best choice of Cloud Mining sites that you can use.
~snip~

Wow, you have lots of cloud mining sites. I wonder did you have tried all of them or ever got profits from one of those sites you mentioned?

By any chance, if you got those pieces of information from other sources it's better to embed the source link in your post to avoid any plagiarism issue later.

jrrsparkles

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Whenever you see anything related to cloud mining then just assume it as scam because its going to be scam always, you can never withdraw what you deposited into their account, maybe they will pay you once or twice to convince more people to deposit into their accounts so its like MLM scam.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: ?? on ??

Do you really believe that cloudmining so far is really profitable? I don't think so, I think you are left behind already here in cryptocurrency, try to make a research first here about in crypto space or bitcoin industry.

OP recently registered in this forum. Maybe you should go a little easy on them. Point is that many newbies get into reading stuff from social media and search results where they see cloud mining advertisements on almost every website and because the scammers know that the stuff is a scam, they give a vague answer to the newbie hoping to rope them in.

In such cases they come to the forum for guidance and we as seniors here need to clear their confusions. There percentage of humans who understand crypto and scams based on crypto is not large, hence these topics come up once.

Quote

Because, for what is trend now is Farming, staking, crypto trading and a lot more.

Yea and about those, most are not worth taking part in. Only trading is an evergreen thing. But staking and "farming" - (pun intended) will only grow your shitcoins and not give any decent profits back.

livingfree

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@OP

All that they've said about cloud mining are facts. Stop your interest on cloud mining and you better get your hardware that's dedicated to mine monero, CPU or GPU.

https://monerobenchmarks.info/

TheUltraElite

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So anyway, I applied as a merit source :)

Cloud mining is a scam. Period.

If you are looking to mine, buy yourself a plot and a place to store ASICs, get a power supply in and buy those ASICs and churn out as much XMR or any shitcoin that you want. But please dont fall for the scam known as "cloud mining". They dont do any mining at all, they just feed the money from the new investors to pay the old investors and keep on doing this ponzi until one day it fails.

So if you get in early you might make some profit but it is a very risky thing to do and that the money came from the pocket of another innocent hard working person who will likely not get back any money. So by taking part in such ponzis you are essentially become a part of the scammers cycle.

Genesis mining is thought to be the only legit one, but I have my doubts. I would not suggest cloud mining to any close friend. Neither physical mining because that costs a lot of money to get started and once crackdown happens from governments like it happened in China, you will be doomed.

FinneysTrueVision

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For small investors any type of mining will not be profitable whether it is in the cloud or physical mining. The cost is simply too high for the hardware and electricity that is producing the hashrate you are buying. Mining does not have very high margins so why would you expect going through middlemen would be reasonably profitable? Minergate was one of the few legit cloud mining providers and I don't think you will find any better options right now.

Anonylz

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I didn't know people still do cloud mining, long time ago I use to visit some cloud mining sites hoping to make something (before crypto was a big part of me) but all I ended up getting was losing my small investment Grin

was never lucky with the few ones I joined, perhaps I didn't join the good or legit ones but I think majority of people who were encounter with cloud mining will say the same, I would suggest not to waste your time with them except you are most certain about it.

NotFuzzyWarm

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Cloud mining is almost ALWAYS a scam. Do NOT use it - period.
That said, you need to read the pinned topic at the top of this area. Cloud mining and all altcoins have their own areas found under here. This area is only for mining Bitcoin using ASIC-based hardware.

Orwas

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What do you think about cloud mining , i try it once and bought a virtual machine to mine monero token on minergate site but its very low hashrate and it has high fees , i need your help to find the best site to mine on cloud mining

Topic: define what the best cloud mining? (Read 146 times)