All cloud mining is a scam, no matter what the big YouTuber's try to tell you.

in #cryptocurrency7 years ago

First of all, think about this:

If you were making money mining coins and tokens, why would you invite others in to take a cut of your hard-earned profits?

Now that the obvious question is out of the way, let's get down to the truth of the matter, which is "referral commissions", a big YouTuber's best friend.

Cryptonick, and Sunny Decree are going balls to the wall crazy right now hocking their HashFlare usage, and are begging their fan boys like crazy to join under their referral link.

Oh, and both of these fellows made their entire fortunes hocking BitConnect referrals to their fans, before publicly distancing themselves from the platform... so keep that in mind as well.

My guess, is that HashFlare was upset that Genesis Mining was getting all the love, so they called these boys up, and gave them a better referral link percentage option offer than Genesis Mining would.

With that being said, please understand that there is no way to make more money than just buying and holding Bitcoin, or other prominent cryptocurrencies overtime, that is the best and only way to make money.

The only time this isn't the case, is if you're like Cryptonick, Trevon James, Craig Grant, and Sunny Decree, and rack up hundreds or even thousands of referrals.

I myself am doing a real world experiment with BitConnect for 365 days, without referrals, and so far I would have made way more money, if I had just put my initial investment into Bitcoin instead.

You know what they say folks, math always tells the truth, so I encourage you to do your own experiments, to figure it out for yourself.

Buying, holding, and dollar cost averaging will make you far more money than any of these programs will, unless of course you rack up tons of referrals, and this is a fact of which is absolutely indisputable.

Sort:  

This is the reason I do not follow or waste my time on Youtuber that acts only in the interest of making money in a shitty product. You will never make an ROI on those cloud mining, better build your mining rig yourself :)

Yep, and use solar if at all possible, I totally agree!

If you use solar then dont forget to claim your free #SolarCoin.

I dont get cloud mining, I just use #Gridcoin on my PC, Laptop, Raspberry Pis and Android phones, the GRC rolls in while Im mining on kit, that I was using for other real world tasks anyway. There is a marginal energy cost if you do it that way, and that makes it profitable.

Hmm, this all sounds good, but I'd much rather just let someone else do all the work, and just pay for the coins and tokens directly. 😉

Nowt wrong with that approach, if you dont want to fiddle with kit

If you'd get started in mining today what would you mine?

Coin Marketplace

STEEM 0.19
TRX 0.15
JST 0.029
BTC 63493.34
ETH 2578.53
USDT 1.00
SBD 2.79