Quote from: realwhitewhidow on Today at 10:51:02 PM

Quote from: mikeywith on Today at 10:08:24 PM

Quote from: realwhitewhidow on Today at 09:34:54 PM

Are they all just simply scams? or are there actually some legit ones out there ?

The majority of cloud mining companies are nothing but scam, the rest are overpriced, Viabtc offers a legit cloud mining service, I have not tried it but I use viabtc for mining and they are indeed trusted so it's highly unlikely that such a large pool will turn out to be selling scam mining contracts.

Also, IIRC bitdeer has a partnership with Bitmain which makes them somehow trustworthy, but again, the legit ones are overpriced, the fake ones are just ... fake.

IF they are legit ... doesnt the "overpricedness" really depend on what the market is going to do ... or would btc going up not really matter, as you would also me mining less and less, as time goes on, due to difficulty etc ...

how hard do you think btc would have to go up, to actually make it worth while, to buy like a 2 year contract now? what would btc (or eth for that matter, depending on the contract) have to move to, for it to have been a good decision?

even legit cloudmining company like viabtc has the “we can fuck you whenever we decide clause”

so if you buy a contract you are betting that the contract does not get too good along with betting it does not get to shitty.

you are also betting they do not have a natural disaster.
you are betting power costs don’t shift bigly
you are betting the country that hosues the gear does not shut power off.

all of the above they can use the fuck you anytime we want clause.

so there is far more to the picture then meets the eye.

no one should ever buy a-cloud contract .

I can go further but I wont