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57 sats \ 2 replies \ @SimpleStacker 22 Mar \ on: Is Bitcoin Cloud Mining Just A Scam? bitcoin_Mining

I'd want to understand what's in it for the people renting out their miners? Why wouldn't they just mine themselves? Are they charging higher prices to rent the miners than they'd expect to make in Bitcoin? If so then why would anyone pay to rent their services?

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30 sats \ 1 reply \ @Cje95 22 Mar

That’s my understanding… they rent their miners at a rate they will make money but not deal with risk/reward of block finding. Even in a pool you could go bare for a while

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0 sats \ 0 replies \ @siggy47 OP 23 Mar

I know steady cash flow is attractive, but you will pay for it. The big question is how much, and whether the pricing method is transparent or opaque.

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