Quote from: magiccoins on July 15, 2014, 04:46:03 AM

Quote from: Bitsaurus on July 10, 2014, 09:12:24 PM

Cloud mining allows companies to take your money and make profits with it. The end user does not make profits from cloud mining.

In what scenario have you ever seen companies give away profit? Companies like Pizza Hut will allow you franchise, but you have to do work to make a profit (and they still get their take). Why would a mining company readily give up free profit that requires no real work?

https://www.nimbusmining.com

You just proved my point. Nimbusmining is charging over $5/GH. Right now you can buy an Antminer S3 and have it hosted in WA for under a total of $2.50/GH for 9 months of mining (it's maximum useful life).

You're paying 2 to 3 times the actual mining cost. That profit goes straight to nimbus who will build their own mining farm to compete against the very same hashes they are selling you.

It's like giving somebody a gun so they can fight in a gunfight with you.