Bitcoin Forum

Hey guys.

So lets say I have 40btc.
My aim is this... I want a 2nd income to pay off debts.

Where would be the best place to get some good returns?

I'm currently in Scrypt.cc and making 17.5btc per month.
This is a GREAT 2nd salary and goes towards my paying off debt.
BUT I am a bit worried and skeptical of them and want to move my 40btc elsewhere somewhere more safe.

I currently have 5x AntMiner S5's over at Hashnest but daily output is sooooo small.
I could put the 40btc in and buy another 25x S5's but that only nets me around 6btc per month without difficulty increases.

I have dabbled with trading (didn't go so well for me), I also have some bots like CAT (Cryptsy api), and Haasbot.
But I cant seem to get my trading right or for it to be profitable enough.

So that is why I'm coming to you guys.

Where would be a great place to put 40btc to earn me some good cash per week/month.

scrypt.cc went ponzi some time ago i believe, i know bit-x runs a legitimate cloud mining with hashing power provided by bitfury. quite honestly though, trading would earn profits faster than cloud mining if you know what youre doing.

This is why I wish to remove my BTC from Scrypt.

But at the moment they are still paying and paying well...

Is there any good automated type of bots that could be profitable?

no clue, im not too into the forex and trading stuff, but my guess is that if there was such a bot that guaranteed profits, everyone would be using it.

Your best bet scenario is not buying a bunch of gear increasing risk.

Its when usually when the price will go up eventually, and sell off and a waiting game. I`d just hold it for now and sell half the off to supply and profit in whatever that may be like selling vapors, used iphones, things that bring in inventory for profit.

Interesting idea, but not one I love.

Would love to keep it crypto until I withdraw to $.
I would also like to keep making more BTC per month.

You might consider to try out other Cloud Miners that is around for some time and proven to give ROI. I invested in www.CloudMining.website few months ago and now enjoying profit.

Read details here: https://bitcointalk.org/index.php?topic=852857.0

Third party mining monitor CMmonitor.com also reported to have ROI with CMW within ~114 days, though it took ~125 days for me.

http://anony.ws/i/2015/03/02/cmmonitor1.png

They also provide payment proof of 7+ months: www.cloudmining.website/payments.php

Thanks will definitely check them out.

cloudmining website is likely a ponzi scam, I would not invest in there or get out if you already have (if thats possible)
https://bitcointalk.org/index.php?topic=878387.0

has all the warning signs of a ponzi.

I tend to agree with you there...

Seems Hashnest is the best place for me :(

Unless anyone else has any ideas

I agree hasnest is really good.

IMO the best place to make money is altcoin trading BUT it is also the fastest way to lose it if you don't know what you are doing.  I would start very very small, like less than .5 btc to learn what you are doing.  It is a lot of work, and not everyone is successful.

People say that Scrypt.cc is ponzi, but I am not so sure that they are ponzi.  I would not put everything there, but if you already got break even it might be worth leaving your funds in there and then using the payouts for other investments.  If they go away then you lose money, but you are break even so it is still ok.  For those kinds of payouts for me it is worth the risks.

Why do you not think its a Ponzi?

I need some confidence.

Problem is I have not ROI'd yet.
I am still over 45+ days away from full ROI.

just check the facts on the thread I linked in the previous post, cloudminingwebsite has all of the warning signs of a ponzi scam, its highly unlikely that it is a legitimate operation. read the 1-7 points the OP describes and make your judgement call, the person managing that thread has a good success rate in determining ponzis (95%)

What wait haoBTC?

Could put my btc in there and earn 12% interest?

MIning is not profitable anymore,there are already huge mines taking his part

Trading may be profitable but it is highly risky,you have to have a good knowledge in what you do

with 40btc you can join whlaes club and let's rock with BTC-USD trading :) that better you lost your money in ponzi site like scrypt cc

What kind of monthy gains could you make with bit-x's cloud mining service? Im looking at puting my BTC to use myself to have some sort of monthly passive income. Trading doesn't cut it, it's too unstable, you make peanuts sometimes, tons other times.

no idea really; depends how much you put in but i threw in some btc for ~22gh/s for fun, so i may update that in this thread later on after some time has passed. right now the maintenance fees are about ~70-80% of the payout, but that info is based on a small sample.

About trading place, find the long trusted exchanger like Poloniex & bittrex. They have a great interface and everyone love it.
If you have a good experience for trading altcoin, I'm sure you will have a profit especially if you have a huge amount of initial fund.

I think wait 40BTC better trade in BTC-USD like bitsamp or BTC-e , so many scamer in altcoin that not good to trading high risk

I prefer trading. the risk is not too great, depending on who plays and analyze our coin will we play.

whereas mining investment? it took a long time and certainly need substantial capital as well.

Here's another thread similar to what you're asking: https://bitcointalk.org/index.php?topic=1084189.0 And the best suggestion as per me is don't do anything, you have already invested, just put them in a cold storage and once the price goes higher you can sell them and make a profit. Investing your bitcoins in Cloud Mining is the worse thing you can do and you're lucky that they didn't run away with your money till now, just withdraw from any cloud mining service and get hold of your money before it's too late.

I personally choose trading. But now i choose do nothing :D (i need more learning about trading).


Looks like promising, https://bitcointalk.org/index.php?topic=1085039.0


~iki

Thanks for the ideas.

I think personally I'm going to steer clear of trading unless I can get help with some fool proof method.
I always end up losing out when trading.

Still not sure what to do with mining.

Withdraw 30btc from Scrypt and invest in Hashnest, and let the remaining 10btc grow in Scrypt...
Or withdraw all and put it in Hashnest...

Withdraw all and wait to see what S6/7 come out with?!

So many questions, if only you could see the future :(

mostly people here will choose trading just like me because i think that is best option between the two last option

Do you trade manually, or use a program or how?

I would have to say trading in altcoins is a good way to make profit and also to lose quickly, it does take a bit of time to keep an eye on the coins and the movements and scams and so on but the profit is there, you do however need to invest a decent amount of time. 

This is very true on investing.  It can be a good profit or a bad loss.  I would highly suggest starting off slow on investing in altcoins.   There are just a lot of pump/dump coins that have made the alt coin market a little harder the it was at one point in my view.   Just really go slow don't dump your entire budget at once and jump in.

If right conditions mining can be done well.  I personally am a miner at heart and enjoy it.

I would say part of it is finding what you enjoy.   I hold a little in altcoin's just for fun, so you can mix the two.  But I by far keep BTC as my main investment over alt coins.  Its a huge YMMV field on investing on altcoins.

Yeah like I say, I've tried trading... Didnt go so well for me...

I love mining, and would have my own mining farm if prices of elec in UK was any better and I had space.
I looked into colocation and all but its not viable in the UK.

Hence why I need to use cloud mining.

But there is something in mining that is a passion for me... I love it.
And would like to continue to mine for more BTC, just obviously with less risk.

Mining is okay if you have large funds, land and cheap electricity. However, risk like DOA and late shipment can occur. This would result in potential loss of profit and you have to bear that risk. The price can be a huge factor too.
Investing at gambling site can be risky but the risk would be moderate. The profit tends towards the house edge in the long run. If you aren't prepared to wait for sometime, then this isn't for you. Main issue here is trust. You have to trust the site owner to not cheat you or run away.
Trading is very risky. For those who have experiences, go ahead but the risk is still there. In the long run, you can lose all your funds if the coin you invested in crashes. Trading bots aren't designed to generate profit. You have to test it out yourself and find the settings. Again, no guarantees.
There's no such thing with no risk when investing in cloudmining. Mining isn't profitable for small players and cloudminers anymore. The only one profiting is the owner of the cloudmining company. It's hard to mine for guaranteed profit nowadays, even with altcoins.

What about Hashnest?

Seems to be the most legit, backed by Bitmain.
ROI is around 250 to 285 days.

Slow but stable...
40btc nets me around 25 Ant S5's.
I already have 5 taking me to 30x S5's.

My daily average for the last 2 days = 0.005171497btc per miner.
So 30x S5's in a month nets me = 4.718991013btc.

Now that's not tooooo shabby, but obviously I want more to pay off debt quicker.

Also that doesn't account for diff increases or Bitmain releasing the new S6/7 and the price of S5's dropping in market.
Meaning selling my miners could be at a loss.

Might need to wait till July for any announcement before purchasing anything more.

Well, the release of new ASICs can potentially increase the difficulty by a huge amount. Depending on how you look at it, it can be positive or negative. Mining is usually really risky and hard to ROI. Not to factor in the risk of bitmain closing down and there goes your dreams. Hashnest seems to be okay but like all mining operations, it is risky.

Yup this is why Hashnest has me a bit worried.

Also when S6/7 is announced prices of S5 should in theory drop.

I might try wait till the announcement in July and see what it entails.

Also with KnC releasing news about 16nm and some crazy Gh to W ratio Bitmain may have to up their game or their pool will be overrun!
So lets see what happens. 

Don't use robot(probably virus, the system does not work well).
You can use indicator as tools for your technical analysis.

Looks like you prefer to mining than trading :D


~iki

Just go for trading as it is simple Buy Low Sell High..Just wait for the correct time when to buy and when to sell

Its never as simple as that with trading ;)

I did try that for a bit with Haasbot, but it kept going outside the channels when the waves got too big.

Also this market is pretty volatile at the moment with the sudden increase.

Sure it's never as easy as that but it's the best option out of the three you listed, but making money is never easy and always risky. Personally I just prefer to hold my bitcoin in the long term as an investment rather than speculate with it currently.

Both are risky, trading is *slightly* safer if you know what you are doing.  The best investment is to buy a sr member account and enter a sig campaign.   ROI is about 3-4 weeks for that. 

Sig campaign now that's interesting.

Could you swing me more info?
Ps my Account is Sr ;)

Although Vod has tarnished it with bad rep...

Mining is not profitable for the most coins and countries. So, investing and trading is the best way to gain. You should focus on good alts with a supportive community, good devs and a unique feature set.

then i doubt you can join on any signature campaign, none accept user with bad reputation, but you can try with those signature that are not known well, maybe they don't care too much about it, if they are desperate enough to have some advertisement

Many people are selling sr member with bad posting history. Buying those accounts may not allow you to join all the campaigns but there are still some. A good way to earn profit but a lot of posting is required.
Here is an overview of the current active campaigns. https://bitcointalk.org/index.php?topic=615953.0. You have bad rep so you can't really join most of the campaign. A few of them might accept you though.

honestly i don't trust any cloudmining services. and more importantly i personally don't like putting my money somewhere or give it to someone and they give my profit little by little.

i think your best option is to start trading with your bitcoins. you can gain good profit from day-trading bitcoin / USD if you know the markets.

additionally if you like altcoin market, there are a lot of good opportunities there and you an make a bigger profit in trading bitcoin / altcoin. but you have to learn it first. and it needs dedication.

unfortunately, trading effectively for profit requires a bit of knowledge and experience, unlike cloud mining, where people just buy hashing power and sit around while they get paid little by little. ponzi schemes feed off of this and spam things like "guaranteed roi, fast roi, as low as X BTC / Gh/s!!!" which is why the cloud mining scene has a negative opinion from most people.

there are some signature campaign that does not care about a bad reputation.
so now you will play signature campaign?

whether you've decided that a good investment? apparently I'm looking also invest a good and safe  :)

Im not 100% sure what I am going to do yet.

I havent really looked into Sig Campaigns.

whether we can withdraw at any time if invest in site dice?
is there any suggestion from you, the site has good trust?

There's no such thing as big profit. It is impossible to actually earn a big profit in dice sites. You are more likely  to be getting very little profit or a whale will wipe a part of your profits off. If you wanna try, convert your BTC to clam coins and invest in just-dice.com the owner is trusted and well known. The only risk is the volatility of the coin.

Because you have negative trust, and no sign campaign accept user with negative trust

Bloody Vod and his self righteous mission...

Sigh

I guess Vod had some valid concerns. The default rate on BTCJam is ridiculously high and most people would just blindly invest. You should talk to him about this issue and prove that you aren't a scammer. But the fact that you have broken your promise doesn't seem trustworthy to me. No offense, there may be a different side to the story.

Yeah I dont want to get into that whole debacle again.
I and other kicked up so much of a stink it seems he is taking a break from the forums.

As such he is no longer around to look at my rep and don't think he would ever change.

And I have proved I was trustworthy by paying back all my loans and on time (beforehand even).

Anyhoo that is a totally different discussion.

Staking clams is a pretty good investment at medium-long term, probably you already have clams.

i think right now the best way is to just keep them in cold storage to profit later on from the price rise.
but now you can work on your trading skills (as you say you have done before), you can improve yourself and eventually start earning more and more.

Did you trade with them? I only see them posting random, and often contradicting, technical analysis on their blog. So i really wonder if someone, who follows them, somehow, will make a relatively sure profit.

Maybe you need to know certain protagonists that know how to interprete charts. Do you have a tip then? Send me a pm if you have... :)

Looks like 12% annual return. So its similar to dice sites like it was with just-dice.com when they still used bitcoins.

Though i think its risky. They dont tell where the profit should come from, am i right? And they show 15% return on the picture. As long as there is no clear plan about where the profit comes from and why they need investment, where they invest it in and so on... i think its risky and not so very much rewarding.

Its 12% (for over 10btc deposit) and rises by 1% per month till around 16% at the end of the year.
Its not worth it for me.
They also get their payments from mining, they have a big farm in Chine you can read all about it.
Its very open and lots of pics which is encouraging.

Are you referring to https://www.whaleclub.co/?
Cause I dont really see how they can help me with profit?!

Signature campaigns arent for you. At least not when you think about investing 40BTC. They are only payment for posting while wearing a signature with an advertisement. See my signature, its the best paying one that is no scam so far.

So with what indicators do you trade? There often enough is a "correct time"... at least you think... and shortly after it shows you that you thought the wrong way. So care to explain what indicators and entry points you look for?

From mining? Rising profits? Thats something new and sounds risky in itself. Mining business is hard and they promise practically fixed returns.

And promises in the mining area, coming from mining companies... thats a whole story for itself...  :D

My Tips for indicator trade is good news and bad news :)
also i use more reference like newsbtc for some analys coinigy is good too

I learned that good news do nothing to the price, no push, and bad news make bitcoin drop hard often enough. Seems not so very trustworthy.

And on these websites, do you read their analysis or what do you go for?

It try to not focus on price alone.  Since I am in it long term sure I want enough to keep paying my electricity costs.  But my overall goal is to gain more BTC.  I mine with this as my goal to continue to earn more BTC over the price of running costs.   

So far this goal works very well.  I don't worry as much about day to day just watch the BTC grow in my accounts.  I do admit I keep a pretty good spreadsheet that I track each miner and BTC profits vs electricity price so I do not lose money running and it's by miner and overall.   

Would you mind sharing your spreadsheet so I can use it for mine?
Maybe Google docs?