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Cloud Mining 101 Lots of people ask me if cloud mining through services like Hasflare and Nicehash are a scam. The short answer is no, most cloud mining providers have an excellent business model and they don't need to scam you. You are providing these companies with the capital they need to purchase cloud mining hardware and in return you get to enjoy some of the benefits.
Yes it is possible to make money on some of the best cloud mining contracts out there but I challenge people to look at where their real profits come from. If you purchase a 1 year mining contract for bitcoin and pay in advance you are taking a long position on bitcoin that you cannot easily exit.
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