Post
Topic
Board Service Discussion
Re: CEX.IO is the only legitimate cloud mining site
by
Mabsark
on 20/01/2015, 14:33:32 UTC
This is the kind of mentality that allows ponzis to thrive. If you want to try cloud mining, either accept that you're playing a part in a ponzi scheme and take your profits before the whole thing falls apart or choose a legitimate service and lose any hope of making a profit at all. That's the reason why CEX.IO was so overpriced. Unlike most of its competitors, it was a legitimate mining firm backed by actual hashpower. And because of this, nobody who sat on their miners actually made a profit from buying CEX.IO mining contracts except for those who bought them just before the November 2013 bubble.

Purchasing cloud mining is no different than buying a physical miner in that regard. You don't buy an obsolete, power hungry miner for above value and expect to make a profit either.