Bitcoin Forum

Just asking for all the expert here in crypto currency. Is it advisable to invest in a  legit btc cloudmining site like Genesis cloud mining, hashflare, viaBtc and other legit cloudming site??. Do we get good profit for those cloud mining site ? or its better to buy bitcoin hold it til its pumps up?. Share all your suggestion for me to have good decision thanks a lot  ;)

I would definitely not advise anybody to invest in any sort of cloud mining site whether it be a legit site or not. Mining crypto currencies is surely a good thing and a good method to earn some crypto but it's only good when done via the traditional method. Cloud mining wont result in any worthy profit since nobody would give you free money just for doing nothing. It would be 10x times better to just buy any coin and hold it than to invest in cloud mining sites. Besides that, 99% of the cloud mining sites are fake so there is just no point in giving away the hard earned money to some scam sites.

No, dont invest on cloud mining site. The difficulty will be raise up again and again and your profitability will going down too because difficulty become high. And they charge some maintenance  fee based on USD, so if the bitcoin price go down then you will pay more for their maintenance fee.

Im saying this because i invest on mining cloud (hashflare) and i regret it.

I'd avoid them, the profitability seems to be real limited if any at all. you're much better off investing in to your own mining set up or just investing in to some coins. I've not come across many people with success stories from cloud mining.

Very shortly, it's not advisable and it's not wise at all. Unfortunately, majority of cloud mining sites turned to be scam and many have lost a lot of money so be careful.
There are so many such sites but only few of them are legit which is actualy hard to tell so you don't need that risk.

YOU must never invest on any mining site. it is just a scam in a long run. or some days.
If you will have your own mining rig be sure that your country collects cheap electric bills.
Mining rigs also have high maintenance, you must keep the place cool (airconditioned) if you think this is really expensive.
just buy some bitcoin and rest it on your wallet.

Oh, a cloud mining? I don't think it is really advisable for you to do so. I think that in cloud mining, it is super risky for a person to invest in such activities because you can't have the money you invested. So, don't pursue this kind of activity.

Thanks for advising, learned from the expert hehe. So now I would never take the risk to invest in any cloud mining site wether its legit now that I know I'll never get good profit by investing in that kind of platform to earn bitcoin but rather to buy some altcoins hold it and wait til the time its value rise up.

Cloud mining sites give you access to small investment and earn big through the same. In reality achieving such an earning is impossible, based on the investment plan you have invest little by little on mining equipment. This will let you get a earning, which is a promised one which seems to be the right pick than going behind mining sites.

If for my personal advice it is better you do not invest for cloud mining and that one day it can be a scam and you should invest enough by buying bitcoin and holding it until the price goes higher, it's a very good opportunity to do.

As I read in the previews topics, Nowadays cloud mining is not that profitable because sometimes, all your earning from mining site is only goes to the maintenance of the hardware that you are using in the site. It is still best to gamble in the pump and dump of bitcoin to gain more income rather joining any mining poll. not unless you are joining an altcoin mining, I think Altcoin mining is currently the best option for mining.

better to buy btc, specially with current price. legit cloud mining site - doesn't sounds right)

It's not. It can go down or hacked anytime. It's more advisable to build your own rig in your house. Never ever participate in this kind of activity unless it's free and legit.

all website mining is a scam, i have bad experience with website mining, many times i got scam in the same month and year by the end of 2014 many sites mining scam simultaneously.
My Advice : if you want to do mining, you better buy your own mining equipment and start mining from home ;)

Yes, no one will dare to venture into the web. Do it in the traditional way and do not believe in anything easier. all are phishing. Take your money to invest, you get the profit. If all conditions are free then 99% sure that site is phishing. I would like to advise newbies that they should invest in the traditional way because in the crypto market there are now a lot of scams set up. Try to avoid the risks.