So I was just referred to Bitclub by someone I trade bitcoin with in meat space, says he was introduced to it through his father who is some kind of business person who knows the owners personally. I have no reason to doubt he believes what he told me, but even so, anyone know anything about it? Safe(ish) to invest in?
The way I see it, cloud mining is a flawed business model (for the subscribers, not for the sellers).If mining is indeed profitable, why should they sell a slice of their profit for a fair price?
Either the price is unfair, or it is just a scam.
Of course, they might be selling shares of the mining profit for fiat money immediately needed for maintenance, or for acquiring new gear and so on, but it's a very long shot. I'd imagine they should have their cash flow under check if they're so successful. And I've never heard of current mining gear being sold on credit. On the contrary, it is usually paid before delivery - often much too long before delivery.
TL;DR I reckon you'd be better off investing your subscription fee directly in bitcoin.
