See what I did here? My amazing (non-existent) photoshop skills allowed me to put a mining facility in the clouds. But enough about the amazing picture.
These past few days I've been trying to do some research on cloud mining. I really want to know if it is profitable or not. But searching the world wide web has taught me only a few things really:
People who are against it say the following:
- They claim almost all cloud mining sites/companies are scams in one way or another. Some would not even mine but use your money to trade. Others do not pay out and others are straight up criminals and take your money and run.
- They claim cloud mining is almost never profitable and they advise you to use the money you want to invest in cloud mining to buy cryptocurrency at an exchange or a broker.
People who are for it say the following:
- A lot of people 'review' cloud mining companies but they actually do not review them, all they tell you is what some companies offer, tell you about some differences and they end up telling you which one they are affiliated with and give you their affiliate code hoping you will use it.
- These people hardly ever inform you about their own investment so we can learn from it. I have not seen a lot of people actually discuss what they invested and what they made during the time the cloud mining has been running. I have not seen a lot of people actually discuss their ROI.
So the people who are against it can quickly persuade you with very good arguments not to invest in cloud mining. The people who are for it are basically selling you their affiliate code but this does not persuade me into thinking it is actually profitable at all.
My conclusion at this point
I don't have enough proof that it is a good investment and that there is a real and perhaps quick ROI to be made. So I've decided I won't invest in cloud mining at this point in time.
But I do know that a lot of people are cloud mining... they can not all be losing money, right? There must be quite a lot of people who are making profit this way. I would very much would like to hear about real cloud mining cases. Has it gone bad? Are you doing well? I'm hoping that there are people here on Steemit that can and want to provide information about it so interested people can make a better informed decision about it. I even may end up using your affiliate code if I decide to start to mine in the cloud. ;)
Like this post? Feel free to upvote, comment and resteem. And, as always... keep up the good work and may the Steem be with you!
Want to buy cryptocurrency? I have bought most of what I hold at Litebit.eu and have very good experiences with each and every order.
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