Post
Topic
Board Service Discussion
Merits 1 from 1 user
Re: Cloud mining services, is it worth it ?
by
HeRetiK
on 07/05/2018, 13:25:11 UTC
⭐ Merited by npredtorch (1)
No, cloud mining services are almost never worth it.

For the most part you will end up with a loss, having mined less coins than you initially invested. Those cloud mining users that claim fiat profits, usually would have made more profits by simply holding their coins instead of investing them into a cloud minig scheme.

Cloud mining is only profitable for the ones offering the service, not the ones investing in it. Basically it's a simple way for miners to make a safe profit off of "investors" while outsourcing the risk of difficulty adjustments and hashrate growth onto the unsuspecting hashrate buyer -- assuming the hashrate being sold actually exists to begin with.