A little less than a week ago I posted a blog titled CLOUD MINING CRYPTOCURRENCY. DO THEY REALLY WORK? (clickable link if you would like to read)
Just to reiterate what I found on WIKI
“Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoins or alternative cryptocurrencies without managing the hardware”
After tickering around a bit on a few different web pages that “Claim” to be free cloud mining service web pages, few in particular like CPUWIN.com AND OOMINER.COM it seems like a lot of them are misleading in what they are actually going to be doing for their users. Right at the beginning of the crypto era mining using a basic computer/laptop was actually effective from what I hear. But with that being said, the amount of users who are mining with rigs and the amount of power consumption needed to complete the complex mathematical equations, and reputable cloud mining operations out there, a website that can’t be verified probably isn’t going to yield positive results as far as the actually mining is concerned.
Honestly I am not sure why people would want to develop and operate a website that doesn’t actually add value to the people that they are hoping will interact with the website. But it happens all the time and just because it doesn’t make any sense to me doesn’t mean that they aren’t entitled to do what ever it is that they want to do.
Fair warning to anyone who is looking into cloud mining, be sure to find a reputable source that you can verify that it is actually profitable or at least has some kind of value. From what I can see that is what block chain is about. taking away the need for trust and becoming transparent. It it isn’t transparent and you are just hoping that it works out, then like they say “ if it is too good to be true then it probably is”