Is cloud based mining profitable?

[Kr0sss]

Do you think cloud based mining such as the one bellow is profitable?

 

https://products.butterflylabs.com/homepage-new-products/1-gh-cloud-hosted-bitcoin-hashing-power.html

 

This website offers 1GH/s for just under $11 on a 12 month contract.

Although bitcoin calculators are not exact, this still looks better than buying hardware upfront. (at least for someone like myself who is just starting and doesn't want to invest thousands upfront)

 

Also, are their any serious drawbacks from this being a pre-order?

[MariusJS]

ATM it might be profitable, but when they launch it, it will not, because the difficulty will be much higher!

[Lays]

I've heard terrible things about butterfly labs, like how they keep you on the pre-order list for MONTHS and never give you your product.

 

(I'm unsure how true these accusations are, but if they are true, steer clear)

[Kr0sss]

anyone else? (bump)