I'm against cloud miners. My arguments - page 2.

Slow death

legendary

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Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: btc_love on May 14, 2019, 12:27:07 PM

They spoil the reputation of good products.

good products?

- How long have you been a cloud mining investor?

- How much money did you invest in cloud mining?

- How much profit did you already have in cloud mining?

Quote from: btc_love on May 14, 2019, 12:27:07 PM

Just because they were too stupid to read a contract.

too stupid ?

the contract is very vague and opens loopholes for them for always benefit them and harm their customers, for example I heard that only when the price of bitcoin is $9,500 is that the cloud mining will return profits and pay the investors. imagine if they had said that when the price was $17000, I doubt that people would invest money in these cloud mining

Quote from: btc_love on May 14, 2019, 12:27:07 PM

I don't understand these people!

maybe you do not want to understand

Steamtyme

legendary

Activity: 1554

Merit: 2037

Cloud mining companies are a fairly poor investment most of the time. I briefly looked into a few and it left a bad taste in my mouth, and honestly seemed like a stupid option. People could either buy the coins and hold them, or even if home mining isn't an option buy hardware and host it. I personally don't see cloud mining as a good product, it's a service that really only benefits the provider. Even if things are good, you are just helping them pay off their gear with your money, hoping that you earn more coins than you paid - including maintenance fees.

Any cloud mining with a contract has the ability to leave you out of pocket, as soon as things turn unprofitable. Most flat out cancel the contractual obligation to mine without refund, and don't provide the option to mine at a loss - this should be your choice if you will cover the maintenance fee. On the other hand I've heard of the options where you can rent hash for small periods time when you think it could be particularly profitable, that can work for some but requires a lot of research and luck.

This is just covering the legit operations then there are the myriad of scam operations that take it all and run anyways.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Some of the cloudmining services out there like Hashnest aren't too bad IMO, Hashnest tells you the daily maintenance rate for the miners they sell and they also provide a neat chart to view past earnings for miners per TH in the case of SHA256, and things mostly go smoothly over there. Last time I checked you can also redeem the miners when they become unprofitable if you have enough of the contracts for a specific miner so you can get physical hardware afterwards as well. There's definitely better ways to invest your coins out there though.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: btc_love on May 14, 2019, 12:27:07 PM

They spoil the reputation of good products. Just because they were too stupid to read a contract. I have nothing left to say. I don't understand these people!

Depends! Why?

There's lot of cloud mining companies nowadays 95% of them are just scam and only Hashflare and Genesis are the ones to whom i believe that these are
legit and operational ones but still even how legit they are,cloudmining profitability is not really that good so it wont still be a good option.
The main reason why these people do cry after being scammed? They are greedy too much on having those good returns on short duration.

btc_love

member

Activity: 566

Merit: 13

I see a lot of mad people who spam all around the internet and argue about the money they lost in cloud mining. These people claim that they INVESTED a lot of money and lost everything.

At first, I felt sorry about these people. But after I've found out what cloud mining is, I started to think, that their loss is just their fault. Cloud miners services offer you to buy mining power. That's alright. Also, they say, when your account profitability turns negative, a system closes your account automatically. That's fair too - your account should profit.

But that is the stumbling block between users and cloud mining services. Users think that they've scammed when their account just stopped making a profit. But some users start flooding saying that one or another company is a scam and nobody should trust it.

They spoil the reputation of good products. Just because they were too stupid to read a contract. I have nothing left to say. I don't understand these people!

Topic: I'm against cloud miners. My arguments - page 2. (Read 396 times)