Can someone help me understand the point of cloud-mining and why anyone would buy a cloud-mining contract? For every one I've looked at, the cost of the contract far outweighs the amount of bitcoin that would be mined, so why do people buy these contracts?
The only way I can see it 'could' be beneficial is if you purchased a contract some time in the future at a fixed price, and by the time your mining contract begins the value of bitcoin has risen significantly and outweighs the cost of the contract - or is that the point, like some sort of gamble?
Cloud mining is a thing of the past, don;t anyone fool you even if they promised you high interest or profit, they cannot sustain, in fact many small time miners are selling their mining rigs because they cannot keep up anymore, you are better buying Bitcoins and other mine able coins, in two years time there will no cloud mining site, because it's not going to be profitable it's more of a Ponzi scheme