This writing is a result of tiredness and angriness against cloud mining companies, most (around 95% of them) cheating and robbing good believing people who are investing more and more every moment to this booming new industry area. The idea of this particular type of mining is brilliant. Benefits are undisputed, such as no purchase of heavy-duty hardware machines, no colossal electricity fees, zero space allocation problem, divided maintenance fees.
Since May of this year, I have been studying and signed up to hundreds of different cloud mining sites, investing my own money at least 40 of those companies. I just wanted to see results and effect on those companies. In no case, i wouldn't make any mistake on judging them because I Will reveal them later on this blog post—shame on you, shame on you. But as you have seen surely in the movie, I will tell these villains; YOU SHALL NOT PASS! Any more on this road you have chosen.
To keep me on track of this post, ill stay now on bitcoin cloud mining only since it is by far the most known and popular crypto on earth. I am still not believing that all these people have invested already. Again, more is going to invest in one of the easiest to expose of cryptocurrency crimes. Next, I will show you a mathematic formula that cannot be denied by any of those culprits, just because it is straightforward: mathematics.
And if you are company owner who is reading this, please do not worry about your reputation. The truth will also set you free. I will let everyone know at the end which companies are safe and legit. As far as I have gone through them, but the list is quite complete, I can assure you.
The basic facts of BTC mining(or any other cloud mining) are that you can see the truth of any company's mining offer in minutes maximum. And he or she cannot deny it. Those who will lose their faith in getting huge profits from these companies do not lose faith in all miners. They still exist. But in any case, this article and story are my responsibility. And my Duty.
Let's face the facts next.
There are two significant facts on this formula only. The first one is Miners Revenue, which means the total value of coinbase block rewards and transaction fees. You can also check it at some of the mining pool websites, and I will also give a link to you. A second major, the significant fact is the total hash rate. That means the estimated number of terahashes per second the bitcoin is performing in the last 24 hours. This one too, you can check out quickly.
Then you divide the total miner's revenue by miner's overall hash rate. The answer is the most accurate evaluation of how much cash flow 1TH/s products at this moment. Let's call this value Saurons Return.
Then, you compare ANY bitcoin cloud mining contract to this number, and if this offer equals or is more than of Saurons Return, It's a scam. No doubt it. And one more time, to this elementary and simple math, nothing can change this number upwards, no electricity, no maintenance, no good sales speech, no supernatural force, no future prediction, no nothing—end of the story.