Is bitcoin cloud mining a scam?

Discussion in 'General Bitcoin Gambling Discussion' started by NKOTB, Jul 7, 2017.

  1. NKOTB

    NKOTB Member

    Like many people I am kicking myself that I didn't buy more bitcoin back when it was $200. However, I've seen a few adverts on reddit for various cloud mining services that say you can acquire bitcoin at half the price if you mine it rather than buy it at an exchange. I know that major Chinese miners like ViaBTC offer cloud mining contracts so I'm wondering if anyone here has had any success acquiring bitcoin at a discount with any of these cloud mining services?

  2. Freddy

    Freddy Member

    you have to ask yourself, if cloud mining was profitable, why wouldn't miners just mine themselves and keep 100% of the profit? are they running a charity where they want people to take a bite out of their income? cloud mining is a scam and should be avoided.
  3. EthHead

    EthHead Member

  4. PokerGod

    PokerGod Member

    cloud mining is 100% a scam. just look at viabtc who put their fees up from 6% to 50%. these guys are con artists. if you want to mine, buy a damn miner.

  5. Humble Servant

    Humble Servant Active Member Staff Member

    ViaBTC are just another name for Bitmain so I'm not surprised that they are scamming their customers. It's best to avoid anything that Jihan Wu and Bitmain are associated with.
  6. the bitcoin hash rate has doubled since march so if you signed a contract 6 months ago, you're probably losing money now.

Share This Page