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I wouldn't disagree with that per se. In most cases, odds are in your favour. I even came to the same conclusion for my situation. Electricity and housing costs are too expensive for me to have my own mining setup. It couldn't compete with the rest of the world. And mining contracts are too risky due to the added overhead of costs, which lowers the profit and strongly couples it to the Bitcoin price. I'd even agree with you to call it a scam when all expenses and risks are outsourced to the customer and the cloud mining provider can walk away with profit (or breaking even). So... No mining for me either 😅

Yeah, the whole thing just never sat well with me, but to each their own I guess.