Beginner wants some feedback!

[Itun]

Yeah, I highly don't recommend investing in any mining system now.

Just buy some coins

They'll be a much better investment

[btccashacc]

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

you can mining new altcoin with your machines, some of that give you profit and lose
(im lose mining at cann coin)

and if you want to invet think again about that company... may be u can invest at bitcoin 75% and use only 25% for cloudmining

[JohnPap204]

Can I use my PC to mine other cryptocurrencies that use Scrypt or CPU and GPU mining are long gone?
I've also found the PACMiC V3 which looks like a good option!

[Pursuer]

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

you can mining new altcoin with your machines, some of that give you profit and lose
(im lose mining at cann coin)

and if you want to invet think again about that company... may be u can invest at bitcoin 75% and use only 25% for cloudmining

I agree, if you can find a new altcoin and mine it as the first person (the first blocks) and do it while the difficulty is pretty low you can gain a nice profit.

p.s. can you explain what you mean by "lose mining"?

[prodigy8]

I suggest to buy bitcoin, the bitcoin price is changing dramatically but let's calculate something 5,000$ % 220$(price of btc before some hours) = 22.7272 BTC. And selling this only after 9hours when the price was 230$.

22.7272BTC x 230$= 5227.2727 USD.

You see the profit now?

5227.2727 - 5000 = 227.2727 USD profit in just 9 hours.

P.S i didn't included any fee from exchanges.

[JohnPap204]

I suggest to buy bitcoin, the bitcoin price is changing dramatically but let's calculate something 5,000$ % 220$(price of btc before some hours) = 22.7272 BTC. And selling this only after 9hours when the price was 230$.

22.7272BTC x 230$= 5227.2727 USD.

You see the profit now?

5227.2727 - 5000 = 227.2727 USD profit in just 9 hours.

P.S i didn't included any fee from exchanges.

Yeap, I see the profit. So it's like stocks right? Buy low - Sell high!
Do you reccomend any exchangers, with low fees and such?

Many thanks,
John

[ikydesu]

Can I use my PC to mine other cryptocurrencies that use Scrypt or CPU and GPU mining are long gone?
I've also found the PACMiC V3 which looks like a good option!

You need research first when you want to mining altcoin, mostly altcoin is easy to dump and pump, find a promising altcoin and also research the difficult too, see this link: http://www.coinwarz.com/cryptocurrency

[Fat Ronaldo]

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

Only you can make up your mind whether to invest. I'd stay away from cloud mining though and just biuy bitcoins and they should or could be a great investment themselves over time but nothing is guranteed. Do your own research and make your own mind on what you want to do but the decision is yours.

[RodeoX]

I would recommend not going into mining unless you have a lot of capitol, expertise, and antacid. With mining you will be competing with some very smart and large operations. Even with all that investment you are still taking a large risk as the future of BTC is unknowable.

If you just buy some bitcoin and hold them for an appreciation in value you still face the risks associated with price decline, but have far less investment in useless capitol. After all you can always get something back selling BTC but very little selling used mining equipment.  

Lastly I would forget about "selling" bitcoin and focus on spending them. A lot of people lose money everyday because they forget that when you have bitcoin you already have money. They take a loss buying and then another selling them back. Why? You could just use them to buy the things you are going to buy anyway. Almost anything is now available for sale in BTC and transactions in BTC are safer, faster, and cheaper than other methods.

Cheers,
RDX

[newflesh]

Hmm, I see. So aren't there any legit cloud mining sites?

They are few and far between:

Ponzi's that have already collapsed as predicted:

Code:

PBmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
Lunaminer.com         1+2+3+4+5+6+7      => 7/7 = Ponzi
coinsoncloud.eu       1+2+3+4+5+6+7      => 7/7 = Ponzi
Cryptomine.io         1+2+3+4+5+6+7      => 7/7 = Ponzi
hashie.co ("gen1")    1+2+3+4+5+6        => 6/7 = Ponzi
bitcoinlabmining.com  1+2+3+4+5+6+7      => 7/7 = Ponzi 
ltcgear               1+3+4+5+6          => 5/7 = (very) suspicious
hashprofit.com        1+2+3+4+5          => 5/7 = (very) suspicious
minethatcloud.com     1+2+3+4+5+6+7      => 7/7 = Ponzi
CoIntellect.com       1+2+5+6+7          => 5/7 = (very) suspicious
terabox.me            1+2+3*+4+5+6+7*    => 6/7 = Ponzi (pictures are not convincing to me for now, exit strategy involves  60+ days stall tactic)
chabatmining.com      1+2+3+5+6+7        => 6/7 = Ponzi
Ecrypto.co.in         1+2+3+4+6+7        => 6/7 = Ponzi (+ confirmed scam, they are no partners of cex.io)
GenerateBTC.com       1+2+3+4+5+6+7      => 7/7 = Ponz

Likely Ponzi scams that have yet to collapse:

Code:

cloudminr.io          1+2+3+4+5+6+7      => 7/7 = Ponzi 
cloudmining.website   1+2+3+4+5+6+7      => 7/7 = Ponzi
Skycoinlab.com        1+2+3+4+5+6+7      => 7/7 = Ponzi (+ organized by serial ponzi scammer: ?topic=583177.msg10298730)
btcslice.com          1+2+3+4+5+6+7      => 7/7 = Ponzi (+ pays out in reversible paypal ?)
grmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
bitcoinmaker.ch       1+2+3+4+6+7+8      => 7/7 = Ponzi 
eobot.com             1+2+3+5+6+7        => 6/7 = Ponzi (+ possible malware/wallet stealing software)
hashwar.co            1+2+3+4+6+7        => 6/7 = Ponzi
bitrush.com           1+2+3+4+6+7        => 6/7 = Ponzi 

Code:

nexusmining.com       1+2*+3+4+5+7       => 6/7 = Ponzi (Guy from Spondoolies says im wrong, but I cant score what I havent seen and he seems to confirm they have no hardware)
minerslab.com         1+2+3+4+6+7        => 6/7 = Ponzi (+ selling hardware that doesnt exist + using purchased "legendary" account) 
bitcoincloudservices  1+2+4+5+6*+7       => 6/7 = Ponzi (+ founded by known scammer  https://bitcointalk.org/index.php?topic=860400.msg9638868#msg9638868) 
scrypt.cc             1+2+3+4+5+6        => 6/7 = Ponzi (preliminary assessment) 
Kryptologika          1+2+3+4+*          => */7 = Ponzi -> passthrough of AMhash which is defunct. Currently operating as fractional reserve/ponzi.
hashcoins.com         ~1+2+3+4+7         => 5/7 = (very) suspicious (user selectable pool requires fee, dc pictures show no miners, linkedin profile doctored, hardware sales very dubious,..)
Zeushash              1+2+3+4+5          => 5/7 = (very) suspicious 

Rest:

Code:

Cryptsy MN            1+2+3+4            => 4/7 = Possibly/partially legit ( + no details on fee structure)
cloudmining.sg        1+2+4+7            => 4/7 = Possibly/partially legit
genesis-mining        1+4+7              => 3/7 = Probably legit (risk of fractional reserve mining)
Megamine.com          1+4                => 2/7 = Probably legit 
Bit-x.com             1+4                => 2/7 = Probably legit (preliminary assessment, partnership confirmed by Bitfury)
pow88.com             1+2                => 2/7 = Probably legit (preliminary assessment)
KNCcloud              7                  => 1/7 = Legit (but as hardware vendor, they broke their promise not to selfmine with more than 5% of customers hashrate )
Hashnest (umisoo)                        => 0/7 = Legit

Obsolete or suspended:

Code:

AMhash                                   => 0/7 = Legit (if you buy directly) / divs momentarily (?) suspended 
Cex.io                4                  => 1/7 = Legit
Cryptx PETAmine                          => 0/7 = Legit
GAWminers             1+4+5+~7           => 4/7*= Possibly/partially legit based on criteria set forth. Based on wider context: more suspicious than a nun squatting in a cucumber field

Personally I'd just invest (what you can afford to lose) by buying btc from an exchange.

[prodigy8]

I suggest to buy bitcoin, the bitcoin price is changing dramatically but let's calculate something 5,000$ % 220$(price of btc before some hours) = 22.7272 BTC. And selling this only after 9hours when the price was 230$.

22.7272BTC x 230$= 5227.2727 USD.

You see the profit now?

5227.2727 - 5000 = 227.2727 USD profit in just 9 hours.

P.S i didn't included any fee from exchanges.

Yeap, I see the profit. So it's like stocks right? Buy low - Sell high!
Do you reccomend any exchangers, with low fees and such?

Many thanks,
John

Well dont have any experience with fiat currencies but i would suggest 2 of them: coinomat.com and/or bit-x.com. Please research yourself here in forum about these main exchanges and others. and best of luck.

[Mickeyb]

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 see it was told numerous times before me, but I will repeat it again just so you don't make a mistake.
Don't do either of the two. Bitcoin mining is unprofitable for the small people and your gear will become obsolete very quickly. Mining companies are in majority total scams and do not trust them.

For 5k, buy yourself 20 BTCs and a Trezor. Stick your 20 coins in the Trezor so they are well secured and be happy. If this thing ever go where we all think can go, you will be rich one day out of this move.

Good luck!