Ninjastic
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Board Beginners & Help
Re: Cloud Mining - Please help a newbie
by
kotwica666
on 30/03/2016, 17:50:25 UTC
Quote from: Warren Buffet on March 30, 2016, 05:40:52 PM
Quote from: kotwica666 on March 30, 2016, 12:58:14 PM
Quote from: notlist3d on March 30, 2016, 12:39:38 PM
Can you name the "There is more Cloud Mining Services that looks legit".  I just don't see a lot out there... hashnest has great backing.  So it's a safe bet.

I lot of cloud mining sites are pure ponzi.  They don't have gear, just a ton of things that should scare users away.  I don't see any other cloud mining site betting hashnest currently, with security of being legit.  But please post the other's that you are talking about.

I also still stand behind fact buying S7 with coupon price and hosting it somewhere chances are is better then cloud mining.

It looks like https://www.genesis-mining.com and https://www.miningsweden.se/ are legit. I just don't like them, because they don't have market to trade between users Smiley



No. They are NOT legit. A cloud mining is legit only when they are selling the hash power they have. Any cloud mining can prove it by showing their mining address(es) as well as publishing sold hash power in real time. Showing picture to owning real mining firm DOES NOT prove anything, because if you have 1 Phs and selling 10 Phs and thereby paying the people holding 9 Phs from other people's investment, you are operating a Ponzi in reality. Unfortunately NONE of the today's cloud miners show the above stated required proof to show their legitimacy. Some people still try to support them saying at least they have some hash power and other bullshits. We should NOT forget that AsicMiner to GAW miner, all had hash power, but they eventually scammed millions of dollar because they sold what they did not have.

Hence, just stay away from each and every cloud mining, unless u are desperate to try your luck in some Ponzi.

It is easy to find videos from genesis mining farm, Mining Sweden is inviting people to see their farm.. Ok, it is not enough. Thats why i wrote that they looks legit.
To be honest even if i will see their mining rigs and BTC addresses there always will be way to scam me.

I know that question - "so what must be done to be sure that cloud mining service can not scam me?" Is difficult and probably only escrow can be good enough, but then who will be escrow to be sure that escrow will not scum me? ehh.. At this point it should be our private decision and risk counting.. or maybe just sentiment Wink