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Author Topic: "Bitcoin mining is a Big no!"  (Read 3367 times)
GoodLuck2
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October 14, 2018, 07:17:29 PM
 #481

Ive met some group of financial adviser, they told me that the best way to aquire bitcoin is through cloud mining, they gave me names of trusted cloud mining providers and as of my research, they are well known and trusted.
Then ive met some people, whos already earning big bucks on bitcoin, they dont recommend cloud mining. They told me that its expensive and risky, but as for my understanding its good way of gaining passive income.
What are the possible reason on thier contradiction?
Whos recommendation should i try and why?
the decision is in your hands, if you want to get a lot of bitcoin you can do it by mining, but in this way you need huge capital for the mining needs.
according to my advice, you should just do trading to get a lot of bitcoin, with your diligence and ugliness you might be able to generate bitcoin with a lot.
Agree with the discussion, it is all about us, if we will have enough money to manage the expenses I am sure we will get huge amount of profit, mining actually gives better profit but it takes time and needs money to use, now a day we are able to see mining is making bigger scope in market because mining has become a solar system holder and we can use solar system to generate better profit from mining.
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NeeNts
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October 15, 2018, 11:34:24 AM
 #482

Bitcoin mining is not the option for me to make passive income because I doubt if one will make enough passive income to cover for his investment. I am yet to see anyone who completed his cloud mining without any issues along the line. Majority of the cloud mining firms are scams. Just buy your bitcoin and hold.
Bitcoin miners know that the price is not increasing for long time and the profit mark=gin is very low because of low bitcoin price in the market, that’s why they are dishearten and now they are also thinking to start some regular business. In these days mining is just a waste of time and money. It is better to change your profession for good future.
Maricel2017
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October 16, 2018, 05:24:17 AM
 #483

Bitcoin mining before is much profitable but when the value rising it became too hard to get profit in mining but still there are company that continuous using this method to generate income and i do not know if there are still individual who are continuous mining even this time which very hard to mine bitcoin.

bitcoinisbest
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October 16, 2018, 06:18:43 AM
 #484

Bitcoin mining before is much profitable but when the value rising it became too hard to get profit in mining but still there are company that continuous using this method to generate income and i do not know if there are still individual who are continuous mining even this time which very hard to mine bitcoin.

With the fallen prices in btc, mining is not recommended and I do not intend to do it. It is better to upgrade your skills in trading, identify investment opportunities with ICO coins can yield you much profits in the short and long term rather than mining the coins now.

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October 16, 2018, 11:25:11 PM
 #485

why can't it be big ...? , because bitcoin has not been officially used as a currency, and many do not know bitcoin, therefore bitcoin cannot be perfect yet. If bitcoin can often make campaigns, it is likely that bitcoin can be a big mining

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DaughterOFbitcoin
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October 17, 2018, 09:23:02 AM
 #486

you can ask for some advice and recommendation.
Most of the miners are in Asia, because the cost of mining is low in Asian countries. In west the labor cost is high and miners cannot save handsome money. That’s why they are quitting mining or mining very small quantity. Mining is no more profitable and when there is no profit why one should waste time and money in such activity or business.
I am not in favor of cloud mining. If you can do mining by yourself its ok, if not then invest your money somewhere else, but don’t even think of cloud mining. Anyway miner think that the profit margin has reduced due to fall in the price and there is no positive attitude in the market, the price is not increasing for the last several months, therefore they are not happy in mining.
Ganbound
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October 17, 2018, 11:08:26 AM
 #487

Ive met some group of financial adviser, they told me that the best way to aquire bitcoin is through cloud mining, they gave me names of trusted cloud mining providers and as of my research, they are well known and trusted.
Then ive met some people, whos already earning big bucks on bitcoin, they dont recommend cloud mining. They told me that its expensive and risky, but as for my understanding its good way of gaining passive income.
What are the possible reason on thier contradiction?
Whos recommendation should i try and why?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.
Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.
I don’t believe in cloud mining because you don’t know the miner and give your money to an anonymous person. It is much better to set at home and done work. Atleast you will not lose your money if you are not earning. Cloud mining means to give the keys of your wallet to a person whom you don’t know. Anyway I think that mining should be continued but not cloud mining.
lauder_larger
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October 17, 2018, 12:26:03 PM
 #488

Bitcoin mining is not the option for me to make passive income because I doubt if one will make enough passive income to cover for his investment. I am yet to see anyone who completed his cloud mining without any issues along the line. Majority of the cloud mining firms are scams. Just buy your bitcoin and hold.
Bitcoin miners know that the price is not increasing for long time and the profit mark=gin is very low because of low bitcoin price in the market, that’s why they are dishearten and now they are also thinking to start some regular business. In these days mining is just a waste of time and money. It is better to change your profession for good future.
I also think the same if miners do not make any profit why they would mine bitcoin? Everyone is here for making money, traders, investors and miners and if traders and longtime holders make money and miners are just wasting their time, they would definitely quit mining and start some other business or trade in Altcoin or even mine Altcoin. It will be better than bitcoin mining.
Ericgreen
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October 18, 2018, 12:32:42 PM
 #489

Ive met some group of financial adviser, they told me that the best way to aquire bitcoin is through cloud mining, they gave me names of trusted cloud mining providers and as of my research, they are well known and trusted.
Then ive met some people, whos already earning big bucks on bitcoin, they dont recommend cloud mining. They told me that its expensive and risky, but as for my understanding its good way of gaining passive income.
What are the possible reason on thier contradiction?
Whos recommendation should i try and why?
the decision is in your hands, if you want to get a lot of bitcoin you can do it by mining, but in this way you need huge capital for the mining needs.
according to my advice, you should just do trading to get a lot of bitcoin, with your diligence and ugliness you might be able to generate bitcoin with a lot.
Agree with the discussion, it is all about us, if we will have enough money to manage the expenses I am sure we will get huge amount of profit, mining actually gives better profit but it takes time and needs money to use, now a day we are able to see mining is making bigger scope in market because mining has become a solar system holder and we can use solar system to generate better profit from mining.
Bitcoin mining is no more profitable in this price therefore most of the miners think to start some other job or work. They think that if the price of bitcoin falls a bit more then there would be no bitcoin mining and the supply will be reduced more. This is not good for overall bitcoin because the investors will be low and so the use. Minimum price of bitcoin should be atleast $6000.
btcmegastar
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October 18, 2018, 02:52:55 PM
 #490

Now bitcoin mining is not profitable because the difficulty of maturing the coins are taking too long. So now we are in an unpredictable situation so if we are not making profits better stay away from bitcoin mining otherwise expenses of power consumption will be more.

remuy24
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October 18, 2018, 06:01:55 PM
 #491

Ive met some group of financial adviser, they told me that the best way to aquire bitcoin is through cloud mining, they gave me names of trusted cloud mining providers and as of my research, they are well known and trusted.
Then ive met some people, whos already earning big bucks on bitcoin, they dont recommend cloud mining. They told me that its expensive and risky, but as for my understanding its good way of gaining passive income.
What are the possible reason on thier contradiction?
Whos recommendation should i try and why?
I think. cloud mining is very dangerous and the risk is quite high, I have tried it and proven at the beginning of the pay and the next payment they have not paid again. I suggest that you make a trade and learn to invest

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escalante28
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October 18, 2018, 10:41:23 PM
 #492

It's up to you mate, I believed cloud mining is profitable if you invested it in the right company. Try to figure out every mining platform you're investing because there are companies that can't give you profit and some of them are scam. It's a matter who and how you're going to choose but if I were you, invest your own mining tools, if you have a capital for solar panel and mining rig din do it.

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