What all this obviously means is that no, cloud mining operations aren´t selling you hash out of the goodness of their hearts, you´re in effect financing their mining equipment. It´s a great deal for them because very few people actually make any money out of this (get back money loaned) except of course the referral shills that convince people to join these largely hopeless deals. They get their commission for the victims provided.
This is true but I ve seen people making money on cloud mining operations which allow hash trading. I am one of these people. The other option s constant reinvesting large chunck of your payouts which does signficanlty prolong ROI time. Is all this worth that trouble?
I sincerely do not know anymore.
What s become a reality is that making money in crypto s become extremely hard due to harsh competition. Good old easy day are behind us.
Yes, this model where you can trade the hash is the only one which remotely makes sense in cloud mining. For the customers that is. It is possible to make some money, although I doubt that many do, and you can at least cash out when you like.
It´s too much to say that cloud mining is a scam, at least those that actually operate mining gear, but certainly it´s misleading. They prey on the ignorance of the customers. Lifetime contracts and all that. It´s meaningless when difficulty keeps ballooning.
