Topic: What is the best program for cloud mining? (Read 206 times)

yes i heard hashnest eventually i use it couple years back the site own by bitminer there's proof of the mining rig to
bitdeer in the other hand it same joined with antimner

but yes cloud mining right now is espensive if i were you would rather depositing my Stable coin or other coin to Yield Optimizer or stake some coin like cardano

Yea, seems this user's status changed to Archived (autoban). The account hasn't been nuked, if nuked then any post shouldn't appear in his post history. However, it's good at least he has been punished for spreading the suspicious link. Not sure either it happens due to my report, but the report has marked good on the same day (9/10/2021). And he got what he deserved. I don't think even he could get back his account even appeal it.

The premise of my previous post what that you somehow knew a cloud mining company to not be a scam. If a company was stealing images of miners from other companies, it would probably be fair to say they would be solidly in the scam category.

Those who used the BIP chrome extension will easily spot that the OP account was banned and might your report was effective, OP now was nuked.
He obviously shilling those names that might lead or fall to the trap.  It's a good thing that you've reported that account to stop this behavior.

In addition, most of them operated with no real mining machine, stealing images from other mining companies and claiming that they are.

Cloud mining businesses don't have enough credibility now even how you will say it is a good company.  It will remain a scam company in the eyes of investors so it wastes of time.

In the past, most cloud mining companies have been outright scams, frequently via some kind of long con. I expect that in the future (along with the cloud mining companies that presently exist), most cloud mining companies will turn out to be a scam.

Even if you could somehow guarantee that a cloud mining company was not a scam, it would probably not be a good idea to "invest" in a cloud mining contract. I will list some of the reasons why below:

Additional Middlemen need to profit:
When you buy a cloud mining contract, you will almost always buy from an entity that is not the manufacturer of the mining equipment. This means there will be at least one additional entity that will need to charge a markup in order to turn an expected profit. If the cloud mining company advertises, the price you pay for a cloud mining contract will need to be increased in order to pay for the advertising expenses.

Cloud mining companies will have difficulty scaling:
Normally, very large miners can find efficiencies in their setup to reduce unit costs, however, this generally takes some trial and error. Cloud mining companies will generally need to "lock in" their expected costs when pricing their contracts to customers to ensure their operation is not unprofitable. If a cloud mining company were to find efficiencies after they initially sell their contracts, they would not pass those cost savings onto their customers, but they have little reason to look for those additional efficiencies, as they would already be operating profitably.
Similarly, very small mining operations may sometimes be able to find unique discounts that are only available to very small operations, for example, a datacenter (sublease) may have a limited amount of space to rent at a lower than the otherwise normal price. Or a small miner may have a unique situation in which they can procure a limited amount of electricity that is free or that has a lower than market cost.

The people who were around back then already know how crappy cloud mining is. Their new user base is most probably the people who are new to crypto— being attracted to "passive income" and all that; basically the people who prefer to just sit in their couch and watch Netflix all day.

I never know these cloud mining sites are still a thing. They became obsolete in late 2013 and even though some of them continued to appear with a promise of making things work this time around, I still won’t trust a single penny on their business model. With that said, those names that you mentioned in here, even them being ‘legit’ as per your research, most people will invalidate them just because they offer cloud mining solutions. It’s a gimmick; why would anyone with complete rigs rent out their machine when they can just do it solo and get a lot of profits for themselves?

Guys just stay away from these users. It's been noticed this user spreading various scam sites on the forum. Once you visit his profile you might get it. I have reported a few for sharing a suspicious link on the post, not sure if moderators remove them since the scam isn't moderated by the forum. Doesn't matter he post about what, he just trying to spread scamming sites. And we know another name of cloud mining is a scam. So just put in ignore this user.

Sound like shills

Genesis mining has multiple valid accusations Scam alert : Do NOT INVEST in Genesis Mining I don't think it can be called as one of the best or legit. The other cloudmining has many users complaining about scam and loss, but the accusations lack of proof/images.

OP do you ever invest to all cloudmining you said above? I would like to see your transaction history of those cloudmining platform.

Cloudmining is dead for a long time and the thing you had said was actually on point or precise.Profitability doesnt really fit out for this one and it is much better for you to hold your coins instead on using
up these platforms.

Excluding those cloud mining scams and talking about legit ones then ROI is something you should consider which takes a long time and also to mind off that there's a certain contract which means
if less profit then expect that you wouldnt get any ROI until your contract expires.

I cant even believed that there are still some Cloudmining companies are still running today.

+1, back in the days, a few years ago. This cloud mining is popular and most scammers are here with insane advertisements and guaranteed returns but most of them are turning into scams.

I am surprised that there is still a lot of these kinds of programs even a lot of alternative popping now especially on other altcoins, decentralized finance, like yield farming or staking (less risk).

To be honest, If I see or hear the words "cloud mining", the first word that comes to my mind is "scam". Be careful

Mining is an activity that needs accurate calculations and a lot of luck to be profitable. Therefore, when you talk about cloud mining, the investor is the weaker party. Even if the companies are honest and legal, you will get the profits after they make sure that they get their profits.

It may have been a good policy in the past but for now it is better to try POS than to try cloud mining.

Cloud mining is not worth investing it would be better to buy your own ASIC or build your own mining rig than investing in any cloud mining sites.
99% of them are scams and you will never get the ROI back.

Only one site that I recognize from your list. Only Bitdeer that I know is well-known legit and partnered with Bitmain.
But it doesn't mean that I trust them there is still some risk in investing in them.

Even you say those are legit companies for cloud mining, it doesn't change the fact that your profit from those cloud mining sites will continue decreasing, probably because of the so called maintenance fee, withdrawal fees, hidden fees, and etc. Which the calculator gives that you result that you can get your roi for a certain of time but it will not happen due to these fees... And its better to stay away from them.

The top Cloud Mining Legit Companies with the best program include

Ecos Mining.
Oxbtc.
Bitdeer. Bitdeer is based in Beijing and offers cloud mining services to users throughout the world.
Hashnest.
Cudominer.
Genesis Mining.
Hashing24.