I don't see entirely why the cloud mining industry gets a "bad rep" when it comes to the customers. If cloud mining is profitable for people individually, there isn't a reason it wouldn't be profitable for both the cloud mining organization and the customer. But what it comes down to is greed, on the end of the cloud mining operation. There isn't a reason ANYONE cloud mining should not at least* get their money back in the near future. I mean lets face it, we all now 2 currencies can be mined and by mining Decred while mining Ethereum is more profitable than just mining full Ethereum. While the cloud mining operation "only" mines the Ether or Bitcoin, they are making a killing off the 2nd coin that they don't have to share the gains with anyone from.
I looked into Gigahash, their site doesn't work and already has scam reports. While Hydrominer is flat out a lie?...with the first few things I read on it. Based in Croatia, their electricity power is already at the rate it would be if it were Hydropower in the USA, Sweden or UK was being used. The ICO is more or less a way for the founders to just make more $ off of it, in the "sense of building/harnessing hydropower." These are just my mere findings.
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So what I noticed in these last 2 days... people want reputable cloud mining operations- BUT no one wants to define what that is, in their viewpoint? Interesting.
Come on everyone, what is it that would lead to a "legitimate" mining operation in your eyes? I don't ask just because I feel like it, I ask because answers/findings will be used in the organizations development.
Thanks again!
They get their bad rep because they aren't transparent, and because their terms and conditions are vague at best, misleading at worst. Anyone reading the terms for the first time, especially if they aren't familiar with how quickly "maintenance" fees suddenly eat up and end contracts, will get caught out. You're absolutely right - cloud mining should be profitable - miners, don't share whatever it is they're co-mining, nor do they share out the fees they earn from blocks.
Gigahash and HydroMiner like any ICO have their scam reports, and by no means am I advocating them - they merely show the way forward, like I said, firstly by selling power and not hashrate. Hydrominer is based in Austria, so not sure what you're reading... again, I have never supported either but their steps are a huge move from current cloudmining operations. Something someone like you might learn from.