Should I mine bitcoin?

[Athertle]

I checked out CloudMining.website and buying hash power looks pretty cheap. Do you think it is a good investment to buy a bit and then begin mining?

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[DannyHamilton]

I checked out CloudMining.website and buying hash power looks pretty cheap. Do you think it is a good investment to buy a bit and then begin mining?

No.

There are many could based mining sites that are scams. It would be best to avoid them unless you are very certain that you have found one of the few could mining sites that aren't scamming and that can actually provide you with a reasonable chance at a profit.

If you have access to cheap resources (ASIC equipment, cooling, and electricity) then you might be able to mine profitably, otherwise you can consider mining at a loss as a hobby if the technology and activity interests you.

[Unkle]

Mining bitcoin and using cloudmining sites are to different things. Personally I wouldn't bother with either and look at alternative ways of acquiring bitcoin. Like Danny said most cloudmining sites are ponzis or scams and even with the legit ones you won't make much so its not worth the risk.

[DannyHamilton]

This question was also answered on your other thread that asked a similar question:

Self-explanatory, really. Where's the best mining website with the highest payouts? I'm new to bitcoin so I'm not quite experienced in this.

You are asking the wrong question. Highest payout is irrelevant when they are ponzi.

-> https://bitcointalk.org/index.php?topic=878387.0

Perhaps in the future, you can avoid splitting the conversation by avoiding asking similar questions in multiple threads.

[Athertle]

This question was also answered on your other thread that asked a similar question:

Self-explanatory, really. Where's the best mining website with the highest payouts? I'm new to bitcoin so I'm not quite experienced in this.

You are asking the wrong question. Highest payout is irrelevant when they are ponzi.

-> https://bitcointalk.org/index.php?topic=878387.0

Perhaps in the future, you can avoid splitting the conversation by avoiding asking similar questions in multiple threads.

Sorry about that. I thought that they were different enough to be separate but in the future I'll merge similar questions together.

Anyways, thanks for the help.

[LockDown]

You should not mine just trade or mine alt coin.

[DannyHamilton]

This question was also answered on your other thread that asked a similar question:

Self-explanatory, really. Where's the best mining website with the highest payouts? I'm new to bitcoin so I'm not quite experienced in this.

You are asking the wrong question. Highest payout is irrelevant when they are ponzi.

-> https://bitcointalk.org/index.php?topic=878387.0

Perhaps in the future, you can avoid splitting the conversation by avoiding asking similar questions in multiple threads.

Sorry about that. I thought that they were different enough to be separate but in the future I'll merge similar questions together.

Anyways, thanks for the help.

No problem.

As the creator of the thread, you can lock either (or both) with the "lock thread" link on the left side at the very bottom of the thread if you are done with discussion in the thread.  That will prevent spammers from continuously bumping the thread to the top of the "recent topics" list with responses.