"Greed" is the main reason why there are people who do blindly like to waste up their money into these cloud mining sites. Some are already aware but most people do just forget to do a in-depth research before investing which they are just being blinded by that passive income thing without even realizing or do forgot to make calculations first before putting up money and now they are starting to make issues and do already regret on what they have done. People do need to lose money before they do able to learn.
I don't think it has much to do with greed but more with stupidity.
Greed mostly hints towards generating more of something (money in most cases) through ways that offer at least some form of potential profitability, which cloud mining definitely isn't part of. If you also take into consideration that cloud mining is a very slow process when it comes to generating "income", the greed aspect plays even less of a role here.
Cloud mining is meant to be a long term passive income stream for people, which is why it's so popular. Stupidity makes them ignore/discard the fact that there are no profits to be made here, only losses.
