Beginner wants some feedback!

[JohnPap204]

Hello everybody,
I made an account because I would like some opinions on Bitcoin and if I sould invest in it or in other cryptocurrencies.
I can invest enough money (up to 5k) in equipment or cloud mining. Mind that my country has pretty high electricity cost thus buying
my own machines is not going to be any proffitable. Should I try cloud mining and if so, which company do you sugget?
Or maybe I just shouldn't invest in Bitcoin at all?  

I'd really appreciate your feedback,
John

[Restored]

Hello everybody,
I made an account because I would like some opinions on Bitcoin and if I sould invest in it or in other cryptocurrencies.
I can invest up to 4000USD in equipment or cloud mining. Mind that my country has pretty high electricity cost thus buying
my own machines is not going to be any proffitable. Should I try cloud mining and if so, which company do you sugget?
Or maybe I just shouldn't invest in Bitcoin at all? 

I'd really appreciate your feedback,
John

If you're going to invest in Bitcoin, then don't invest in mining. There is too much competition for that, and plus, most cloud mining companies are a ponzi system. Instead, buy some bitcoins. Mind you, the price of bitcoins has been falling lately.

[JohnPap204]

So you are suggesting me to buy some bitcoins, wait for their price to rise, sell them and make profit?

-EDIT: Forgot to ask, "Ponzi system" ?

-John

[Restored]

So you are suggesting me to buy some bitcoins, wait for their price to rise, sell them and make profit?

-EDIT: Forgot to ask, "Ponzi system" ?

-John

Pretty much. But you should do extensive research on prices of bitcoins and what's been happening before investing in it.

Ponzi systems are websites that pay old investors with new investors' money. Many cloud mining websites are secretly ponzi systems in disguise. Ponzi operators often run away with investors' money after getting some large profit, and then start all over again with a new website.

[JohnPap204]

Hmm, I see. So aren't there any legit cloud mining sites? Or mining is a big no-no at the momment due to the difficulty of Bitcoin?
What about mining other crypto-currencies?

Thanks again,
John

[Restored]

Hmm, I see. So aren't there any legit cloud mining sites? Or mining is a big no-no at the momment due to the difficulty of Bitcoin?
What about mining other crypto-currencies?

Thanks again,
John

There are, but mining bitcoin isn't really profitable anymore so there's no point in doing it really.

Honestly, I don't really have much experience with altcoins. I would recommend for you to post in the altcoins thread for that.

[GermanGiant]

Hello everybody,
I made an account because I would like some opinions on Bitcoin and if I sould invest in it or in other cryptocurrencies.
I can invest enough money (up to 5k) in equipment or cloud mining. Mind that my country has pretty high electricity cost thus buying
my own machines is not going to be any proffitable. Should I try cloud mining and if so, which company do you sugget?
Or maybe I just shouldn't invest in Bitcoin at all?  

I'd really appreciate your feedback,
John

I'd suggest you to break down your investment in four equal parts.

Part 1: Buy bitcoin.

Part 2: Buy altcoins. Refer: www.coincap.io

Part 3: Buy hash power from cloud mining website. For profitability check: www.cloudmining.website/calculator.php

Part 4: Buy hardware to mine at home. When you find that this is a losing investment, sell gears and buy more hash power.

[Restored]

Hello everybody,
I made an account because I would like some opinions on Bitcoin and if I sould invest in it or in other cryptocurrencies.
I can invest enough money (up to 5k) in equipment or cloud mining. Mind that my country has pretty high electricity cost thus buying
my own machines is not going to be any proffitable. Should I try cloud mining and if so, which company do you sugget?
Or maybe I just shouldn't invest in Bitcoin at all?  

I'd really appreciate your feedback,
John

I'd suggest you to break down your investment in four equal parts.

Part 1: Buy bitcoin.

Part 2: Buy altcoins. Refer: www.coincap.io

Part 3: Buy hash power from cloud mining website. For profitability check: www.cloudmining.website/calculator.php

Part 4: Buy hardware to mine at home. When you find that this is a losing investment, sell gears and buy more hash power.

Ignore what he just said, especially about CloudMining.website. They are a 100% ponzi system and you'll lose your money if you invest in them.

Also, please close this thread once you're done with it or signature spammers will spam this thread to oblivion.

[GermanGiant]

Hello everybody,
I made an account because I would like some opinions on Bitcoin and if I sould invest in it or in other cryptocurrencies.
I can invest enough money (up to 5k) in equipment or cloud mining. Mind that my country has pretty high electricity cost thus buying
my own machines is not going to be any proffitable. Should I try cloud mining and if so, which company do you sugget?
Or maybe I just shouldn't invest in Bitcoin at all?  

I'd really appreciate your feedback,
John

I'd suggest you to break down your investment in four equal parts.

Part 1: Buy bitcoin.

Part 2: Buy altcoins. Refer: www.coincap.io

Part 3: Buy hash power from cloud mining website. For profitability check: www.cloudmining.website/calculator.php

Part 4: Buy hardware to mine at home. When you find that this is a losing investment, sell gears and buy more hash power.

Ignore what he just said, especially about CloudMining.website. They are a 100% ponzi system and you'll lose your money if you invest in them.

Also, please close this thread once you're done with it or signature spammers will spam this thread to oblivion.

What ? They are paying consistently for almost 10 months now. Payment proof of each payout can be verified on blockchain - www.cloudmining.website/payments.php

[notlist3d]

Depends on your goal.  If you buy bitcoin and have cold storage and store it away I think you will make money.

Only thing is I think it is a long term investment.  Some such as mining or other cloud are shorter term investments.   So pick one you are happy with.

[Restored]

Ignore what he just said, especially about CloudMining.website. They are a 100% ponzi system and you'll lose your money if you invest in them.

Also, please close this thread once you're done with it or signature spammers will spam this thread to oblivion.

What ? They are paying consistently for almost 10 months now. Payment proof of each payout can be verified on blockchain - www.cloudmining.website/payments.php

Okay. Doesn't mean that they'll continue. They've already been solved to be a ponzi at this thread.

[GermanGiant]

Ignore what he just said, especially about CloudMining.website. They are a 100% ponzi system and you'll lose your money if you invest in them.

Also, please close this thread once you're done with it or signature spammers will spam this thread to oblivion.

What ? They are paying consistently for almost 10 months now. Payment proof of each payout can be verified on blockchain - www.cloudmining.website/payments.php

Okay. Doesn't mean that they'll continue. They've already been solved to be a ponzi at this thread.

That thread was tailored to promote AM hash, a multi million dollar scam. It has served its purpose and hence OP does not update it anymore. Please enlighten yourself before making funny statements and it is always better to use your real account instead of creating newbie sockpuppets.

[JohnPap204]

Ok guys, so as far as I can see, cloud mining is not a real option.
I guess that leads us to these two:
1) Buy some BTC, wait for the price to rise and sell.
2) Buy some equipment for home mining as long with some cloud mining.

What kind of equipment do you recommend? I am looking into the SP20.
About the cloud mining thing, Genesis Mining seems to be legit, right?

Thanks a lot for everything,
John

[Restored]

Ignore what he just said, especially about CloudMining.website. They are a 100% ponzi system and you'll lose your money if you invest in them.

Also, please close this thread once you're done with it or signature spammers will spam this thread to oblivion.

What ? They are paying consistently for almost 10 months now. Payment proof of each payout can be verified on blockchain - www.cloudmining.website/payments.php

Okay. Doesn't mean that they'll continue. They've already been solved to be a ponzi at this thread.

That thread was tailored to promote AM hash, a multi million dollar scam. It has served its purpose and hence OP does not update it anymore. Please enlighten yourself before making funny statements and it is always better to use your real account instead of creating newbie sockpuppets.

It is continuing to serve its purpose. It's excellent on how to find cloud mining ponzi systems vs. the legitimate cloud mining programs.

And hasn't looking at your own thread given you some decency to lie low? It would be a good idea to reply to this post with some "proof" that CloudMining isn't a scam instead of ignoring it for 23 days (and counting).

Ok guys, so as far as I can see, cloud mining is not a real option.
I guess that leads us to these two:
1) Buy some BTC, wait for the price to rise and sell.
2) Buy some equipment for home mining as long with some cloud mining.

What kind of equipment do you recommend? I am looking into the SP20.
About the cloud mining thing, Genesis Mining seems to be legit, right?

Thanks a lot for everything,
John

I would say that you should do some more research now that you're handing some more options. Take your time; investing is a big risk and you should always consider each option thoroughly. If you need better help, then feel free to ask for help from some of the bigger guys.

[unholycactus]

As mentioned above, the most sound and simple investment you can make is to just buy Bitcoin.

You mentioned that your electricity cost was high. I'm not sure what that means but if it's anything above 10cents/KWh I wouldn't buy miners unless you plan to replace your heating equipment for the upcoming winter.

[JohnPap204]

Sadly it's about 18cents/kWh here so I guess miners aren't also an option.
I'll think about it further more and maybe bite the bullet and get some bitcoins,
and some cloud mining GH/s!

-John

[Restored]

Sadly it's about 18cents/kWh here so I guess miners aren't also an option.
I'll think about it further more and maybe bite the bullet and get some bitcoins,
and some cloud mining GH/s!

-John

Sounds like a solid plan to me.

Please lock this thread (bottom left).

[JohnPap204]

I'll give the thread a couple of more hours, just in case someone pops in with something new!

Have a nice day,
John

[pooya87]

cloudminings have never been a good option in bitcoin world. the most common problem is that they are not legitimate and just a ponzi scheme so you will lose your money if you invest in those sort of cloudmining services.
and for the rest, the amount of maintenance fee that they take from you will always make the profit minimal. also you should remember that the difficulty is increasing so your profit will decrease too. and in the end you won't be able to have a good ROI and profit.

p.s. i like this post on cloudminings https://bitcointalk.org/index.php?topic=878387.0 you can get useful information there.

[CryptoTrout]

Just buy into bitcoin, maybe throw a hundred bucks at ethereum just in case that blows up.