I've thought about cloud mining briefly and I am having trouble seeing how one would make a base profit from it - unless you are betting on the price of the currency going up during the duration of the time you buy. I recall casually considering the numbers on nicehash renting power and recall it being similar to just buying the coin for the price. With that said, nicehash has a great mining program which I use on my gaming PC when I'm not gaming. I could definitely be wrong about the profitability - if someone would explain that would be great.
RE: How I have wasted money purchasing cloud mining contracts