Quote from: Slow death on October 02, 2018, 07:31:26 PM

Quote from: fanatic26_ on September 28, 2018, 11:52:15 PM

First he needs to understand how cloud mining works. People blaming a cloud service provider for the rise and difficulty and drop in price is a bit silly.

so explain us in detail

Quote from: fanatic26_ on September 28, 2018, 11:52:15 PM

Their job is to make a profit, you cannot punish them for looking out for the best interests of their company.

they already have high profits, people are asking that they be more fair and transparent

A cloud mining contract is not created to make a profit at the current spot prices. It is kind of a bet that the coin price will rise. The only way to profit on a cloud contract is to have a steady price rise that outpaces difficulty adjustments for the life of the contract. If it was more profitable to just mine rather than sell the contract, cloud mining would not exist. What selling a cloud contract enables a company to do is to front load the profit versus the slow steady drip of mining, most often it is done to feed further expansion of the company so that it can grow at a fast rate without bogging itself down with a large number of loans and other financial burdens.

What exactly do you mean by fair and transparent? Everything is spelled out to the letter in the contract as far as what to expect. It is not the company's fault that its customers do not educate themselves before purchasing a product. It is not the company's job to hold hands and coddle its customers. The onus is on the customer to learn and understand what they are getting into. It is quite unfair to blame the company for a clients ignorance.