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Is Cloud Mining Worth It


Mohrzy

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The sad fact is that there is no way to know if the cloud mining site you are working with is legit, therefore, almost all of them are scams.  This is because it makes no sense, if you ALREADY have mining power that is profitable, you'll just make profits, it's only if you DON'T have profitable mining equipment that you would engaged in cloud mining.  Save your coins and just stay away.

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I have actually been doing the cloud mining thingy on my phone for the last couple of years. Though, what I do is just the freebie ones. No investments of any sorts aside from a few clicks in weekly basis. I am subscribed and continually have been mining Electroneum cryptocurrency and Phoneum as well. It doesn't give you so much. It's just something I made of a habit, anyways it's free and doesn't use your mobile data nor your phone's resources as it is cloud mining. Lately, also happy with how another gambling site added Electroneum as a mode of deposit. And with a very minimal amount of 100 ETN you are able to bet and given you are Level 1 you are able to trade 100 ETN to other crypto's including BTC ETH DOGE etc. Cool right? Not trying to promote the other site. I just hope Stake will also decide to integrate the 2 known mobile only crypto currency ETN and PHM. Thanks!

 

Cheers,

NiCOL3 🃏🀄

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Hi friends. I have my own opinion about coin mining. I do not think it is profitable right now because mining is not money, it is just a way to get a coin. Now the steak is gaining popularity. I do so. I downloaded Netbox.Browser and got the coins to register. And also I get coins every day for using it. The coin is called NBX. And it's already traded on the exchange. So I get the coins. Everything is simple.Site: https://netbox.global

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i am a big victim of cloud mining :) do not ever trust on cloud mining sites, i got scammed 2 times, i cant mention the sites name here, but in start they will pay you like 2 or 3 or maybe 4 withdrawls after when they gain your trust and you will invest more they will simply stop paying you anything, so just stay away from cloud mining, my friendly advice to you.

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56 minutes ago, sahil777 said:

i am a big victim of cloud mining :) do not ever trust on cloud mining sites, i got scammed 2 times, i cant mention the sites name here, but in start they will pay you like 2 or 3 or maybe 4 withdrawls after when they gain your trust and you will invest more they will simply stop paying you anything, so just stay away from cloud mining, my friendly advice to you.

Alright thank you for the advice and it seems everyone else is on the same page aswell 👌

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  • 4 weeks later...
On 12/23/2019 at 12:19 PM, Mohrzy said:

I got 2 questions is cloud mining even worth trying in the first place without having other people? 
 

Is it worth cloud mining if you build up a team?

If you find legit cloud mining and if you have god money to buy platforms with good hashing power than that's so worth it, the problem is if we have little money.

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  • 4 weeks later...
  • 1 month later...

I know some mining website are working as legit, it is a reality to earn money from cloud mining but the problem is this, many websites who claim that they will give bitcoin to its users when they join or become a part of their poll, but at the time of result, they prove themselves as scams.

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Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power.[1] This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware. The mining rigs are housed and maintained in a facility owned by mining company and the customer simply needs to register and purchase mining contracts or shares.[2] Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner. Users of hosted Mining equipment can either lease a physical mining server or a Virtual private server and install mining software on the machine. Instead of leasing a dedicated server, some services offer hashing power hosted in data centers for sale denominated in Gigahash/seconds (GH/s); Users either select a desired amount of hashing power and a period for the contract or in some cases can trade their hashing power.

 

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