Bitcoin Forum

Hello and Good Day,

Bitcoin and other  cyptocurrenies no doubt  is not new to anyone  now.
What is surprising  and exciting  is the means which people to get them.
I am a novice but with determination to raise " a stack" of it.
I hope my experiences help others  in the same way.
Everyone is invited to add his/her own ideas.
NO SCAMS
NO PONZI SCHEMES

USE THE REFERRALS
LET'S  BE FRIENDS.

My first try was with apps- bitcoin aliens and faucets-moonbitcoins and moonlitecoins.
I made some  coins,  small but it is still coins,  you can even stack up coins to pay for cloud mining this way

Now I am up to cloud mining.
So far I have registered on some of them *those giving free Ghs* and waiting  to see results.
Let's hear yours

Experiences my man,  share your fun, highs and lows.
Some people might ask for tips,  share with them please.

I never tried mining. Bitcoin mining is not profitable, because it requires big investments and gives small returns, also you need cheap electricity. I also never tried to mine altcoins, because I don't want invest in mining hardware and also don't know coins which is worth to mine.
I advice you to stay away from cloud mining. 99.9% of these sites are just ponzi schemes which are don't mine coins. Sooner or later mostly such sites turns into scam sooner or later. In these sites which gives free GHs, you need to invest if you want to withdraw what you "earned".

I tried mining with my gpu but funny is, I have a low spec gpu so I did not mine lots of coin with it.  Then I heard about nicehash and miningrigrentals. I rented some mining rigs and pointed it out to a multipool but well, the result is below than the profitability payout.  I also try mining newly launched altcoin with it and result is ok. 

If they have referral systems, chances are they're Ponzi schemes.  I can't say I trust any cloud miners, maybe HashNest, HashFlare, ViaBTC and Genesis Mining but I'm always a tad skeptical even of these since they don't tend to be good investments if they're legit.

Yes there's a lot of money there in mining. Try other mining application that doesn't need to invest just open your computer and run the applications . but let see if cloud mining really works I hope it too cause I'd try it too.

Thanks  for the advice.
I thought about that too, but what of sites like Genesis mining? Those seems legit enough,
My location does not have cheap electricity or data,  so my first option was to look at cloud mining, cheap and easy....
I would still try and anyone which behaves badly will get a mouthful here.
At least to keep others out

Cheap electricity is the main factor to consider when trying hardware mining through ASICS or through graphic cards. If you don't have this then it will be very difficult for you to have a profitable mining experience. Cloud mining are even worse as you are giving your money to a third party service and all you have is a promise to get them back from them. There are a few altcoins profitable even with expensive electricity but they need experience from the user.

For the path you have taken which is the free mining part, I am sure something tangible will not come out of itat least in the sshort-term because free GHs will be the same as faucets where it will take forever to get a stack of it which is your motive here. At the same time, if you are going into mining you really need to understand and do your research in the one you are willing to join so you won't be frustrated in achieving that your objective...

And I have gotten my first casualty - bitminer. io
They have refused to pay out.
Sent 2 letters to them and nothing.
Anyone here who has been  paid by them?

Free stuff will get u nowhere, faucets and free cloud mining.

I suggest you stop wasting your time on that and switch to something more profitable.

That's right you can't get anything for free. Free mining is a scam that at first gives you free stuff just to make you invest some serious money or gives you "free" stuff that requires you to refer people to be able to cash out.
In short, faucets pay so little that you'd earn more selling homemade lemonade.
99% of cloud mining companies are scams. A good example of this is Genesis Mining, that is still ripping people off despite all the negative reviews.

I agree with you . there are still many things we can do. faucet and also cloud mining is not a way to get bitcoin.
still a lot of time that we can use to earn money very much. do another more useful investment.

You better not bother with cloud mining. Most such schemes aren't even holding real hashrate and are just built to rule in funds for the company running it.

So far no positive response on cloud mining. I still have 2months on testing as I have registered on a lot of them.
Hope to get 1at least for a good review.

I'm telling you once and for all, DON'T TRY CLOUD MINNIG.

I did buy a few times in hope that I would get any profits. I rented from miningrigrentals but the profit was below what I paid in the first place.

As for solo-minning I tried that as well but could hardly get anything. I guess the bitcoin minning is now on an industrial level where there are huge farms/mines. Those are the ones getting profit. (talking about mines like the ones in China)

My experience is that i dont trust cloud minning.

What about  mining other currencies and converting them?
Anyone tried that?

You are in the big misunderstanding Because​ first of all.you need to know that bitcoin mining is no more profitable now and Secondly​  the cliudmining are the big scams currently Because many of the Ponzi sites cames in the market and run away after steal Monet of every investor , so I will suggest you to not go for the cloud mining  and you can think about hardware mining if you have chip electrici

Okay
I do not have cheap electricity
Hardware is very difficult and expensive to get.

That is for bitcoin.

What of other currencies? Litecoin? Monero?
Any ideas?
Correct me if I am wrong; it seems we can do mobile morning on some of those coins and still make a profit?!?!

If miners did not make a profit, do not you think they would have stopped mining?

Ghs free?

You joined in the ponzi site.

my advice:

Listen to what people are telling you, get away from ponzi sites.

If you are able to land a good discount in a cloud mining website then you can really try that option other than that i do agree that cloud mining is not a profitable one as they will be giving out your coins on a monthly basis what you have given them in the beginning to avail the service and that is how i felt about cloud mining. :D I am not sure what OP is telling here about free hash rates as i have not seen any offers like that from legit sites.

Where are you from? Looks like if that will be applied on the altcoin mine.

No, the big problem for mine bitcoin is you must use asic miner. It will consume a lot of power.

It depends on your mining rig, If you want to do use GPU rig and I think monero is better rather than litecoin. But why don't you try ethereum?
Do you mean mobile mining? It is not recommended way for you, you will not get anything and just waste a lot of your time. You will never get a little penny for use android mining or mobile mining.

At this point Dash mining looks profitable, but when prices go down or difficulty goes up this will change. And probably it changed long before you reach ROI, so I don't suggest it.

FYI, Hashflare's Scrypt mining is always converted to BTC and with Genesis Mining you can convert all sorts of mining into different currencies, so your idea is not new.