Post
Topic
Board Service Discussion
Re: Cloud Mining Scam or legit
by
Slow death
on 05/10/2017, 22:03:07 UTC
I will assume that you will actually read these posts, so I'll answer your question


So is cloud mining a scam yes or no

according to wikipedia

"Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner. There are many cloud mining scams.


Types of Hosting

Users of hosted Mining equipment can either lease a physical mining server or a Virtual private server and install mining software on the machine. Instead of leasing a dedicated server, some services offer hashing power hosted in data centers for sale denominated in Gigahash/seconds (GH/s); Users either select a desired amount of hashing power and a period for the contract or in some cases can trade their hashing power.

Pros and Cons

There are several advantages over the normal home-mining.

Pros:

A Quiet and cooler home
Lower electricity usage
no need to manage the equipment - no need to repair and no need to configure the hardware


Cons:

Management Cost - cost for the maintenance of the equipment
Lack of control - most providers don't offer the possibility for one to choose their desired mining pool
Security – some cloud mining service providers have turned out to be ponzi schemes

https://en.wikipedia.org/wiki/Cloud_mining

"
this is cloud mining:


https://www.genesis-mining.com


this https://www.skycoinlab.com is not cloud mining.
was ponzi and became scam



Reasons why appreciated

cloud mining (legitimate cloud mining) are not profitable, you invest bitcoin and spend months or years and see no profit