Cloud mining an my experience with crypto and Bitcoin

Hi,
It is wise to warn you that this is not the happy story about cloud mining with the referral link on the end.

My beginings

First time when I heard about Bitcoin was it in early 2013. I discovered Bitcoin in some forum. I installed qt-wallet in my computer and click on the link with name Free Bitcoins. That page wanted only my email address exchange for 0.005BTC. :) And that was all. Price at that time was around $80. When I done it I completely forgot about this. Who could have expected what is going to happen. At the end of 2013 price was going skyrocket and articles about Bitcoin started to popup around the Internet. I started to digging about more free coins. First I discovered faucets and I was collect some coins. :) Than I discovered cloud mining.

My experience with cloud mining

I started to read about Bitcoin and cloud mining. Than I decided to invest some money in GRmining.com.

I bought some BTC and invest small amount of BTC in to it. After feew weeks I lost my worries and started to be excited. And I invested more BTC.

"I'll be millionaire" feeling

My excitement was going up with the money received from grmining. I reinvested and talked to my friends about free money and bitcoins. Some of them used my referral link to buy contracts from grmining. How difficulty went up a I look around in reddit and bitcointalk and read more stuff about cloud mining and started to be suspicious. After for more weeks I was thinking that is not correct cloud mining. That time I discovered Genesis mining and invest some bitcoints in their contract and started to earn money from Genesis mining.

Mining Scam and Ponzi scheme

After 4 months I was convinced that GRmining is a scam. I only hoped that my investment 1 BTC will return sooner than guys from GRmining will decide to close the shop. I discovered that on the Internet is lot of bitcoins scams and Ponzi schemes.
If you want to be sure about your investment I recomended to you to read this:
Criteria to help you spot a cloud mining scam/ponzi.
https://bitcointalk.org/index.php?topic=878387.msg9697654#msg9697654
Grmining close his page on the beginning of year 2015 how can you see on their twitter. https://twitter.com/grmining That time I had return only 0.7 BTC from my 1 BTC investment. I was really disappointed but Genesis mining was in the scene.

Genesis mining and how about all end

Genesis mining turns in a real company with real hardware. I was happy and reinvesting all mined bitcoins back to their contract. Even I bought new bitcoins and invested in the cloud mining with hope that Life time contracts bring me never-ending income. I was watching price and difficulty always with hope. On the end of 2015 I decided stop reinvesting mined bitcoin because halving was on the way. That time difficulty went really up and price went down. And my daily earning went smaller and smaller. In early August 2016 took place Bitfinex exchange hack and price drop significantly and contract becoming unprofitable and stay here longer than 1 month.
In a contract is:

In the event of a contract becoming unprofitable (i.e. the payout can’t cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days. This means that we will take care of the maintenance fee in the hope that your contract becomes profitable again. This may happen if the mining network difficulty decreases and/or Bitcoin price increases. If the contract does not return to profitability in this period it will be terminated because the mining machines are consuming resources (electricity, cooling, hosting, servicing, etc.) which cannot be paid with their generated payouts.

In my contract was only 20 days of unprofitable time. And so it happened that Genesis mining canceled my Lifetime contract.
My return was only 25% of invested bitcoins. :( Yeah, you can say price is really going up now and my investment bitcoins will turn in to the profit, but anyway if I hold all invested bitcoins now I am millionaire.
And second really important thing is that my wallet is full of small transaction. Last payment from Genesis mining was 0.00004562BTC. If I want now transfer this bitcoin somewhere else it will cost really really high fee. :( And now my mined bitcoin is stack in the wallet and waiting for segwit.

If I still do not refuse you from mining, I hope you invest it carefully.

And we have not seen the end of it yet

I am disappointed with cloud mining but not with crypto itself. Now I know that is better buy and hold than invest in cloud mining.
At present I am holder of different types of cryptocurrency. I pay with bitcoins and litecoins on daily basic. I have full bitcoin nod running in my basement. Ans so on.

What is your experience with cloud mining?