Just read the newsletter in my email. Was the Arctic cloud hosting a joke? It's nowhere close to April Fool's. You can buy so much more BTC than what those hosting plans will ever buy at current rates.
A massive joke, indeed!
But have a look around. All of the other legitimate cloudmining operations are way overpriced too.
Lucky for them, they don't really need to sell contracts because they'll just mine for themselves. Unlucky for us, we'll never get an opportunity to continue mining once we shut down our @home rigs. Cloudmining will never make sense for people who are capable of basic math.
On a side note, my PBMining contracts that I started in the spring actually have a positive ROI now.
Although I don't see that happening for newcomers now.
On another side note, I lost 4.4BTC on the Lunamine scam. And I lost a considerable amount on CEX.io too. So I'm batting .333 on cloud mining ventures.
I mourn the days of lucrative mining hardware already. This sucks!
There is lucrative mining hardware but there is no one willing to sell it to you at normal profit margins IMHO. The Neptune pre-order was sold to returning customers for 10k USD and to new customers for 13k USD at the same time. I've been looking at intel CPUs and even the latest-greatest-bleeding-edge chip goes for ~1k USD. If you also take a look at Asicminer, they were selling 10 pack u-build miners for 10.4 BTC and then two weeks later for 7.9 BTC but those chips were a done deal in June. It seems that people are getting wiser and not coughing up the money for inflated-price miners. Hopefully the same holds true for the Artic Cloud - we took your chips and said we ran out, oh yeah and your refund money too p.s. thanks for the loaner you silly fools - hashing project.