Good day miners,
Just came across an article on trading view about fancy crypto cloud mining. Beings how this is a well experienced group of fine miners that I trust. I was hoping to get some opinions or experiences trying this service.
Thanks and Happy Mining
Can you link the article.
And most likely itās a scam. Also they can lie about what ASICS they have. Over 99% of the time itās a scam.
Sometimes they will give you a little reward, then ask you for more money and run with it.
Isnāt cloud mining alway a scam
The article is just bs. Donāt fall for everything you read.
Most time scammers pay for the articles to be written, and people fall for them.
https://bravenewcoin.com/insights/cloud-mining-scams
Read the article.
Never heard of cloud mining until this article so I figured this was the best place to ask, thanks for the info.
Cloud mining is basically paying money for hashrate to rent. Mostly they are scams.
Only known legitimate one I can think of in that follows the rental of hash rates is NiceHash I believe offers this and is the basis of their business model.
Yep ONLY use nicehash rented power. (imo thats the only safe option since they are a traded company)
For nowā¦stay tuned.
gonna second on what pretty much everyone is saying here in that itās not legit. Many cloud mining platforms came about back in the 2017/2018 bull market, all of which were scams. big red flag here is they have ETH mining, and ETH is no longer minable haha.
they seem to have other domains as well
.cc and .org?
Nothing is for free.
If the machine they offer to rent is profitable, why not make the profits themselves?
minimal payout is 0.0001 for BTC going to work gonna let it run all day and see the results
facepalm. itās a scam. Take note of my post above ānothing is for freeā
Then look at the name of the link āfree web mining tool for everyoneā.
I can kind of sum up their scam. There is a open-source PHP addon that distributes a Browser cookie. That browser cookie mines XMR monero with your computer to the address of the programmer.
If you wanted to mine Monero, do it yourself. Iāll teach you, message me and ask.
So the website uses your computer to mine to their wallet, and they break you off a little bit of YOUR computers mining profits.
Now the real question. Does simply going to that website deposit a cookie on your web browser that continues mining even if youāre not on that site? AKA a virus that is now on your computer mining away for someone else. History tells us, hackers can exploit anything. if they can do a 51% mining attack, coding a virus like a cookie is childās play.
I highly suggest you take my advice seriously, nothing is for free. If you see the word āfreeā involved with crypto, run for the hills. And I get it, Iām offering advice while also saying everyone is trying to scam you. You just have to roll with the punches and learn how to sniff out the BS and learn those lessons.
Edit/Addon- You will never mine $3 worth or 0.0001btc worth of monero mining at less than 30 hashes per second (what the cookie does). So I suspect at some point, once they determine how big of a sucker the victim is, they then give them crypto to boost their spirits and further con The Mark into sending them even more money.
Just noticing y2kanonomousās post below. Iām sorry if Iām being crude or harsh in my comment. In my heart, weāre on the same team, I do not intent to be rude, just blunt.
I got scammed with cloud mining. They kept charging me fees that were higher than the rewards I was getting from mining until I had nothing.
Donāt cloud mine.
I was trying to think of a way to say effectively what @Kadiyania said but couldnāt so left and waited for someone else to do so.
Effectively my concern is like he said that it is a virus and even if you get paid you likely wonāt get paid enough for what it really costs you plus no guarantee that it wonāt do even more and steal from you.
I downloaded phonix miner onto one of my computers when I had just gotten into it. Luckily, my antivirus caught it before it melted my pc.