You are viewing a single comment's thread from:

RE: ScaredyCatGuide to Bitcoin and Other Cryptocurrency – Part IX – Bitcoin Mining

in #cryptocurrency7 years ago

You need to find a legitimate reputable cloud mining firm as there have been spoof firms out there before

Some of them go bad because their business plan failed. They then have no choice but to become a scam.

Some of them go bad because they were intended to be a scam all along

Some of them have "fake users" who collect rewards among the real users for higher profits to the cloud mining firm.

Not being able to fully audit and inspect cloud mining makes it one of the worse trusted investments of all time.

I do not recommend anyone get into cloud mining investments because your money can go "poof" up in a cloud of smoke one day.

Short term, yes, you can make money.

Long term, no.

This is my experience anyway. Think for yourself and do not listen to me for investment advice unless I make sense. :)