I am pretty new to bitcoin and have basically been using faucet sites to get started.
I know faucets are slow and labourious but at least they are giving me an insite into how bitcoin works
Cloud mining is something that i am seeing advertised a lot.
People will say it is a scam
Some people will say it is not a scam I know that
I would just like everyones opinion on it if that is ok
So is cloud mining a scam yes or no
Reasons why appreciated
Many Thanks
I strongly discourage the use of cloud mining. Until now, cloud mining only perform calculations only. In fact most of them do not have real hardware mining. I am quite worried because they play the Ponzi system because they do not have a clear system. This is evidence that cloud mining is not an investment you should choose. You will only lose your capital and get some satoshi only. There is also cloud mining is blurred and bring all the money belongs to the investors. This is a risk and we should really never try cloud mining.