Are all “hosted mining” services necessarily scams?


In 2014 or so, I paid less money to a company called “Cloudhashing” or something like that that claimed I was renting a part of their Bitcoin mining pool and all I had to do was pay that little and then wait for the coins to roll .

I’ve never had a single satoshi, as you can imagine.

But since then, I’ve seen many services where you can obviously pay an amount big An amount of money to “hire a miner” they host/set up, exactly the same setup as the scam you’ve fallen into. That is, I don’t buy a miner they ship to me, and then I plug it into my local power. I never see/care about loneliness; It is “striked” from me in the same way that a “web host” account is something abstract to me versus asking for a physical server that I keep running in my closet.

He. She It seems To me it would already be possible that this service would not be a scam. I mean, the argument is usually something like:

If they can mine themselves and make more money, why would they sell this to you?

I get that argument, but at the same time, what if they don’t have the money up front to pay the extra miner (or part of it) unless I give them my money? Doesn’t it make sense that they are using client money to legitimately order more miners and make them stay in their improved facilities with cheap card etc, which I can’t do at home? Isn’t a more efficient setup that I simply pay them to let them add hash power and then we both earn money, for ordering an old miner that I can’t run here anyway?

What am I missing? Are there non-fraudulent mining services? I want to make Bitcoin but I won’t waste more money on scams.



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