Bitcoin Forum

whether it is still beneficial for us to mine bitcoin in the present, because the cost to mine alone is great, whether it be above current mining results from the cost

please give your opinion

OP, you should move this thread to another section. Cloud mining topics should not be posted here. I think you should move it to the scam accusation or services. Please read the post of MODs here https://bitcointalk.org/index.php?topic=401897.msg4353159#msg4353159.

Regards this bitminer.io. Surely this is a ponzi scheme. Just by looking at it and judging how much returns they are promising for sure this is a scam. It's really too good to be true. Another sign is that the affiliate program is so generous! How can a service give out 20%-100% as their affiliate program! So OP, if you did invest here. Say good bye to you investment. The company does not own miners nor do they really offer miners, it's all a scam!

thank you very much because you have to remind me about this error

I'm not sure bitcoin mining business is bring profit nowadays, unless you have a lot capital and surely cheap or even free electric bills.
I see there are a way to make electric bills cheaper, using solar energy, instead it could be need a some permission from the government, or institution.


This service obviously ponzi scheme, too risk nowadays using cloud mining as investment.

Nope the profit now is quite small, after the halving the mining percentage has been decrease, now mining is so difficult to earn profit, the one that makes mining not profitable is the electricity cost, if you can get a cheap electric source maybe you still can earn profit, otherwise you better find another source of income

mining bitcoin for now is not recommended unless you have free electricity and you should have big hashrate in your hardware because the diff of bitcoin itself from time to time is increase for quickly. but if you are mining altcoin, then maybe you can get a good profit.

How come you will be lucky if bitcoin mining is not profitable? Difficulty are more higher and surely your expenses will be high rather than your earnings and also you might gonna get the full information about it if you search it on google or even on youtube, jusy try wander around and you could truly see some points about it,


And other miner shifts to other altcoins where they can earn profits but i don't know how profitable are they if you mined them in real time act.

Totally suck bitcoin mining is a dead profit idea and we cannot truly earn by that thats why its not advisabke to anybody to mine it since surely we might gonna lose our capital aswell as our energy cost will stretch, we better try to find another good alts rather than bitcoins, or maybe we should leave the mining thoughs since it surely cannot help ourselves to earn.

Mining bitcoin only worth it if you have such a big mining rigs and cheap cost of electricity. However, if you don't have those things I've mentioned above you can still mine other alternate coins which are still profitable.
Mining is now always about bitcoin but there's also various coins you can mine.
And my opinion about bitcoin mining is it's really not worth it. The difficulties were too hard and halving already occurred therefore the profit you will get will cut in half if you compared to before halving occurred
I won't do it though, for now

I think OP's talking about cloud mining, not physical mining. Either way, it's not much different.

Cloud mining can be profitable, but is more often than not a scam.
Physical mining isn't profitable unless you have many rigs.

Either way, I don't think you should look into any type of mining whatsoever if you are new to bitcoin, and instead look into a different method to make bitcoin.

Dont buy cloudmining contracts or whatever they call it. They are all not profitable for you. Its better to buy BTC and hold them instead of giving to a cloudmining site and putting your BTC at risk. Your best hope is only to breakeven with your contract.

Do you even know why cloud mining exist? because first a person or a company decides to start mining and then after they put all of their money on building a farm then they run out of funds and only option would be for them to attract outside investors as cloud miners not small amounts but large amounts of money so they can expand in a way to make it profitable.
So next time if a mining in the cloud service was accepting even a few bucks as investment know something is not right.
Lets be honest no one will invest thousands of dollars to a total stranger, so cloud mining is good only if they are your friends or they can insure your profit somehow.

The cloud mine was a failure. There is no benefit for use bitcoin cloud mining right now totally, I just say depend on with your title.

Probably asic mine was still being beneficial right now.
(if you have a free electricity or cheap)

Even the future will be coming every 4 years in a row and it will worth in the future for mine bitcoin.

No. Have you heard any news or read a thread here that cloud mining can give you enough profit. Absolute not. Because cloud mining cannot give you enough profit.. Dont ever think about entering cloud mining for investments. Im telling you. You will just lose in the end.

Well, My conclusion above could be used for cloud mining. There are many factors to make a profit out of mining business both physical mining or cloud mining.And if it's really about cloud mining then it's really not worth of talking, Because before you can determine how much money you invest to get profit you must first avoid many of scam cloud mining websites which is majority of them

I've consider all cloudminings as scam since there are no truly true among them thats why people should better be more vigilant since anything can be done wrong at that site if people will go invest at them, and that system is mostly been grabbed by scammers so they can fool many people and take away their hard earned money, and that is the site that im totally away and hope people should be more aware so they can avoid their own losses.

Cloud mining site is mostly scam, and with the bitcoin price up to the moon now, there is higher chance the owner decided to pull the plug and run away with all investor funds.

Whatever you get from cloud mining is not a profit you are making mining with them, they run in hyip model paying out old investors with money they got from new investors.

Mining with your own device can still be profitable and safer than trusting third party with your investment, if you have free or very cheap electricity and if you can buy latest mining hardware with great power efficiency like Antminer S9.

Yes it is and that's why I don't rely and believe to them anymore. I was once a victim of a long time running cloud mining.

And after getting the trust of their cloud miners for a lot of years, they did their hidden agenda which was scamming all their investors.

If op is asking about cloud mining, I would say that stay away from them and if you are interested to have your own mining rig, better to think again.

I'm not super happy because I lost money but its right now pretty okay less more scammers so that is good sign of course.

I used to be in cloud mining,I have invested in two cloud mining site,but I'm not getting the profit I'm expecting,cloud mining is not sure profit,earning is to slow,after the halving it's not profitable anymore,you should just concentrate on  programs that pays bitcoin like affiliate marketing and trading..

I managed to get early into Hashocean, barely made ROI before they disappeared with a metric fuckton of BTC. I was aware it was a ponzi, and I got lucky I guess. Just don't do it, pretty much every cloud mining site is a scam with the same "data centres" in Singapore, San Jose etc. from the same template bought of hyip.com or other sites like that.

I think no, we are not lucky in cloud mining bitcoin anymore. The luck has been reduced as the block halving happened. It is not profitable now like what most user here said. You can't have the returns you expected, only a very small amount of it so you are losing your money.

Yeah I would say we are lucky to have crowd mining but most have turned out to be a sham and Ponzi schemes to rip off people's pockets either than that it's a brilliant idea because it takes out noise pollution and radiation effects which hinder many from mining.

I think you would be extremely lucky to find a block now if you are solo mining and the cost to do so would not make it worthwhile.

Cloud mining sites are very touch and go and the majority of them are purely scams and you will never get your money back, there are a couple which seem legit but even legit ones it takes an eternity to earn a ROI, for example Genesis mining I used last year and it took 1 year to make a tiny ROI.

There are pools on the forum here which have been going for a while and are run by trusted members, I tend to rent some hash ever now and again and point it at the solo pool as a lottery, might be worth you having a look https://bitcointalk.org/index.php?topic=763510.0

Many oldtimers (me included) can agree that cloud mining never has been profitable.

So don't invest ot trust cloud mining companies.
9/10 have been proven scams, even the big names. And yes that's Hashnest (Bitmain) included

To me it feels like the mining boom is over and what is left is mostly just large farms that pretty much just maintain the network, smaller farms don't effect them too much but do add more bulk to the total global hash power. Mining for the individual is over.
Unless I am mistaken GPU mining is also not worth it. You can just rent that hash power instead of a GPU.

Cloud mining cannot give much profit. But if you are patient enough to wait for long time. Maybe, just maybe it could give profit. As others are saying, its not worth the money you have invested to a cloud mining. You have to wait for a long time to earn because it will take months just to earn back the money you invested to them. Theres also risks. Some cloudmining are fraud.  Theres a chance that they will closed the site and never return your money.

Of course bitminter.io is a scam! They also seem to mine bitcoins at first for free, lol. They say that, ('supposedly'), it can mine bitcoins just by creating an account and clicking start! As if, and what an affiliate program they have. As known by most members of the community here, if its too good to be true, it probably is. The catch on bitminter.io is that the withdraw button doesnt actually work. Same with many other cloud mining. Some might pay out at first but after sometime, they just pack up with your investment, and close down. Then most probably, the same people open another cloud mining service, under a different name, and based on a different location, and repeat this stuff.

Nope, cloud mining is too risky, no one who has somewhat knowledge about bitcoin will invest there.