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RE: Did you get scammed or did you just fail to read and understand??
While I agree that cloud mining isn't necessarily a scam I think unless you're willing to read through all the fine text carefully you should absolutely avoid it. There are some clauses there though that do make me go "Hmm" you may actually be better off buying some dedicated scrypt miners for yourself if you want to own hashpower permanently.
Or alternatively, you could simply rent hashpower short term and keep re-newing because then you'll have a lot more control over what you're doing, I'll freely admit, I've made some dumb mistakes with cloud mining, still getting payouts, but ouch never again.
I am willing, I have done so...
This rant is on the general misuse of the word throughout the internet, not just in cloud mining.
I think you're right on that, too often you have people screaming scam immediately without having any fucking clue on what they're buying. The favourite one is investments generally where like you say they haven't read it all carefully enough, I do think though it's awfully sneaky of some of these companies to do this the way they have they should make it clear of what happens if the investment stops being profitable for instance.
At this point it seems I'll be better off putting my money in speculation or lending on Poloniex perhaps.
Don't margin lol. I've lost more on the polo margin than I ever could on cloud mining sites going under.
lol! I'm talking about just lending :D I do alright on trading actually, but there's a really big problem in trading where you can be severely undercapitalised and just keep on losing money because you don't have enough in to make money on the price difference and it's not something people explain very well, found this great article on the subject though actually.
https://vantagepointtrading.com/archives/10075
So yeah, don't think you're going to make anything if you only put $10 into trading, I've made that mistake myself :( I was talking mainly about simply lending though at a stable rate because then you wouldn't have to worry so much about risk.
I do much better now without risk of margin call, it's as simple as buy low, sell higher... Don't sell lower than you bought plus fees and you always profit. People start losing when they are unwilling to wait.