Is cloud mining worth it?

[kittyanne]

Hi everyone,
With a few new sites popping up for cloud mining that offer better rates than Genesis
I am going to do a £300 test run on minersale https://www.minersale.com/ and I'll update in a few months.

[Baloo]

You should calculate everything. Estimate how much you'll get and how much you need to pay. That way you'll know if it's worth it or not.

[joemarct]

Just buy bitcoin dude!

[SouperNerd]

Just buy bitcoin dude!

Super agree! Cloud mining fad is over. Either buy bitcoin or create a for-profit service that accepts bitcoin.

[Decoded]

Cloud mining is almost always a scam, unprofitable, or a ponzi scheme. Just think about it. Why would miners rent off their hashpower at a cheaper rate than gte profits? That's hilariously dumb. The only reputable service that I know of is Hashnest. Even Genesis mining hasn't proved the existence of their mining farm, but their contracts themselves are unprofitable and will end in them profiting, no matter what.

As other have said, just buy.

[SouperNerd]

Cloud mining is almost always a scam, unprofitable, or a ponzi scheme. Just think about it. Why would miners rent off their hashpower at a cheaper rate than gte profits? That's hilariously dumb. The only reputable service that I know of is Hashnest. Even Genesis mining hasn't proved the existence of their mining farm, but their contracts themselves are unprofitable and will end in them profiting, no matter what.

As other have said, just buy.

100% agree with the first sentence.

[Gaenonahiri]

Cloud mining is almost always a scam, unprofitable, or a ponzi scheme. Just think about it. Why would miners rent off their hashpower at a cheaper rate than gte profits? That's hilariously dumb. The only reputable service that I know of is Hashnest. Even Genesis mining hasn't proved the existence of their mining farm, but their contracts themselves are unprofitable and will end in them profiting, no matter what.

As other have said, just buy.

You do not know all the projects of cloud mining, so you can not say that absolutely all of them are scam (for example, I know great Zumminer project). In addition, it can not be denied that cloud mining is much more efficient and cheaper.

[Decoded]

Cloud mining is almost always a scam, unprofitable, or a ponzi scheme. Just think about it. Why would miners rent off their hashpower at a cheaper rate than gte profits? That's hilariously dumb. The only reputable service that I know of is Hashnest. Even Genesis mining hasn't proved the existence of their mining farm, but their contracts themselves are unprofitable and will end in them profiting, no matter what.

As other have said, just buy.

You do not know all the projects of cloud mining, so you can not say that absolutely all of them are scam (for example, I know great Zumminer project). In addition, it can not be denied that cloud mining is much more efficient and cheaper.

I didn't say they were all scams. But most of them are unprofitable. Just ask yourself - what's the incentive to give profits to users, when you could just hoard all the profits? Cloud mining like nicehash is usually the best, where people rent off their rigs and people can purchase their hashpower for a set amount of time. The same question still applies there. Somehow, some way, people will be making profit from you.

[lukewarm01]

I don't think It's worth it. In fact, you're paying a lot for "just in case" equipment is damaged. I believe you should just buy crypto and wait it out, and it should rise in value

[kirillox]

all i can say, im finally off of it. now im on Asictrader and thats good