Cloud mining, some are legit most aint

R

rdot

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Lol, I'v got an account on a cloud miner that's still mining Bitcoin (since Dec of 2020 til today), and its at almost a full Bitcoin - pretty exiting if you have stars in your eyes lol. i go to withdraw this BTC and then i get a pop up box that tells me: "You must first deposit 0.05 BTC in order to verify your withdraw"...

....The conundrum of withdrawing the "mined" crypto, you must first have *your own* crypto to deposit to theyre address (you know for maintenance fee and all of that jazz) to enable the withdraw...

you cant have BTC til you give BTC then you can get the BTC, in which case you'll just be giving away your own BTC and receiving a disappointment in return.

so i make no deposit and the cloud miner just keeps cloud mining away.....lmao
 
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it definitely a scam, but a poorly thought out scam. do people really fall for this?
 
well yea that is why they are running a website. even if 1 in 1k falls to this they make profit
 
Aluminium said:
I mean... you fell for it, right?
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No sir. that's what I'm saying. Why would I need to deposit funds to receive the same funds? beats the entire purpose of the miner.
 
Immergemauw said:
I have never seen a cloud miner actually pay, "some are legit" is an exaggeration.
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Well your prolly right bout that. There's a few that do but it's a small percentage. ThunderToken pays out, banano folder pays, and few more of there that are legit
 
rdot said:
No sir. that's what I'm saying. Why would I need to deposit funds to receive the same funds? beats the entire purpose of the miner.
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I mean you let them run the miner on your computer for months - paid for the power it costs to do so + puts more pressure on your graphics card no?
 
you must prolly get your own cloud @ aws or azure and start mining that way
 
Aluminium said:
I mean you let them run the miner on your computer for months - paid for the power it costs to do so + puts more pressure on your graphics card no?
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No. I should have been more specific. There's a website called Miningstar.io you can put in a BTC address and click 'start miner' and you get redirected to a page that shows you the mining at work. The way this site is set up is the way alot of these sites are set up - the exact same way, If they were mining from my computer i would imagine the power on my electricity would be over spilling.

And idk if they have it set up like that than thats gangsta af but wrong of them to do so but i doubt that
 
Take it from a previous employee of Genesis Mining, you will not turn a profit. Even from most well known/trusted cloud mining companies, the mining contracts have clauses that will suck your profits dry before you reach the "minimal payout", high "maintenance/electricity fees" and when your mining contract isn't profitable for more than 2-3 months it voids and you lose everything.

The only people making money of cloud mining are the operators and the affiliates that shill it. Remember CryptoNick?
 
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