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Author Topic: Bitcoin Mining or Gambling  (Read 3311 times)
investerS
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September 13, 2017, 07:01:19 AM
 #1

I want to make money online through bitcoin but am really confused about mining and gambling with bitcoin because i see the two ways as a quick way of making btc but i need advise about which of the two is more reliable, bitcoin gambling or mining?
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September 13, 2017, 07:05:24 AM
 #2

I want to make money online through bitcoin but am really confused about mining and gambling with bitcoin because i see the two ways as a quick way of making btc but i need advise about which of the two is more reliable, bitcoin gambling or mining?

No. Either one of them are not profitable. Specially gambling, IF I were you I would just do trading or buy bitcoin and hold it for long term. When you say mining, it is cloud mining or solo mining? Again, for me there are cloud mining that is totally a scam so I would be careful if you really want to make investment out of it. While solo mining would require a lot of capital  to begin when and the ROI is not that good either. So either go for trading, or just get bitcoin and hold for as long as you can.

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September 13, 2017, 07:05:43 AM
 #3

Neither.

Gambling is not a way to make money.

Mining is a way to make a little bit of money, but only if you are in the right situation.

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September 13, 2017, 07:06:18 AM
 #4

Mining is far too expensive now to make any profit, you will need and expensive setup, gambling as it is with fiat it is luck.
I would suggest maybe trying your hand at trading altcoins as the rewards can be huge if you are lucky, this would mean signing up to an exchange such as Bittrex and then buying some coins with your bitcoin and see how you go.



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VitKoyn
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September 13, 2017, 07:07:51 AM
 #5

I want to make money online through bitcoin but am really confused about mining and gambling with bitcoin because i see the two ways as a quick way of making btc but i need advise about which of the two is more reliable, bitcoin gambling or mining?

I will recommend bitcoin mining is safe and profitable compared to gambling but you can also do research which cryptocurrency to mine that will give you the most profit. I will not ever recommend bitcoin gambling because is too risky you can lose all your bitcoins in just 5 minutes. I do gamble in bitcoin sometimes but I do it for fun not for profit.

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September 13, 2017, 07:10:00 AM
 #6

 On this time when bitcoin in stres I m going in dogecoin for saif my money on this unstability period

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September 13, 2017, 07:13:18 AM
 #7

I want to make money online through bitcoin but am really confused about mining and gambling with bitcoin because i see the two ways as a quick way of making btc but i need advise about which of the two is more reliable, bitcoin gambling or mining?

i sugest you go on mining over gambling , because mining is not risky at all but needs some enough capital to start because you need to buy a dedicated mining rigs or hardware which expensive and also the electricity will consume more, but the only downside is that youll earn slowly overtime unlike gambling that you can win instant or also loose instantly.

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September 13, 2017, 07:16:02 AM
 #8

Neither.

Gambling is not a way to make money.

Mining is a way to make a little bit of money, but only if you are in the right situation.
Agree you are only in a good position if you know what you are doing with mining, its a matter of knowing how to calculate and assess whether you
are in right place where mining expenses especially the electricity is really low, and you also needs to know if how long you can wait before you can
take your ROI and your earnings.

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September 13, 2017, 07:24:05 AM
 #9

Gambling not for make money but for burn money   Grin
Mining too expensive or you want to cloud mining but many cloud mining is scam.
Trading is the best way for make profit

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September 13, 2017, 07:27:24 AM
 #10

I want to make money online through bitcoin but am really confused about mining and gambling with bitcoin because i see the two ways as a quick way of making btc but i need advise about which of the two is more reliable, bitcoin gambling or mining?

sorry to disappoint you but there is no way of making money "quickly" and bitcoin is not an exception to this rule since it is also money. you will be wasting your time, money and energy if you think there is way specially if you waste it on gambling because gambling is not a way to make money but to lose it instead.

as for mining if you know you have a cheap electricity and if you are willing to make an investment to buy mining equipment then it can be considered a viable option to make some small amount of profit.

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September 13, 2017, 07:29:44 AM
 #11

I would choose gambling for me personally. I have a background in poker though. If you are just starting out you have a strong chance of losing money due to inexperience. Bitcoin mining is very expensive because you have to buy a crap ton of equipment and you end up spending a lot of money on electricity. From what I hear it isn't likely to be profitable if you are doing this by yourself. If you are going to do this then you need to setup a huge plant which isn't practical.

When I recommend gambling I only play in games where you are against other players. I never really play games against the house. The house ALWAYS wins unless your cheating  Tongue. Which is wrong, so don't do that.

I sometimes gamble at Betcoin. Seems like a very good site for gambling with crypto currencies. They now accept ether and Litecoin too now. Use my link to sign up so that I get money:

https://www.betcoin.ag?r=8954

(You have to type the link in the URL exactly as it is including the r=8954 so I get credit as a referral. Apparently in the past people abused the forum by using referral links as spam. I am not doing so since this is on topic and does not violate any rules. See you at the tables.)  Grin

For those suggesting trading, I believe full heartedly that it is easier to win money playing poker than to trade. I think I read a stat somewhere that more people lose from trading than poker. I believe that winning poker players are somewhere near 10% where as traders are somewhere around 2%. I could be wrong though.

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September 13, 2017, 07:30:14 AM
 #12

You better trade bitcoin, gambling will make you poor and mine is now very difficult and expensive. By trade, money is under your control and you're free to decide how to use your money.


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September 13, 2017, 07:31:21 AM
 #13

Gambling is a good way to lose money, unless you open a casino. Even casinos have their own risks, for example your site may be hacked or exploited, or the FBI may bust into your door at any time because an american citizen used your site to gamble. Most gambling games have a house edge so you are guaranteed to lose in the long run, and the ones without house edge give even more profit to casinos.

Bitcoin mining isn't profitable for small users, so it is not a viable option for newbies.

Better think about other ways to earn bitcoins if you are a newbie

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September 13, 2017, 07:35:19 AM
 #14

For starters neither of the two choices are profitable
Gambling - you will just lose your btc on here, I tried this one before and this is not a good source of btc.
Mining - you need a huge initial investment. Bitcoin mining requires a the latest technology - both in hardware and software which is very costly.

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September 13, 2017, 07:36:51 AM
 #15

Since mining and gambling are not good options. Is there any suggestion about earning decent amount of bitcoins?
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September 13, 2017, 07:37:41 AM
 #16

Neither.
That's what I think also.

Gambling is not a way to make money.
Gambling is a way to lose money.

Mining is a way to make a little bit of money, but only if you are in the right situation.
Mining to be profitable had some qualifications I believe. It requires cheap electricity, a cold environment (optional but essential), and invest big time.

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September 13, 2017, 07:38:58 AM
 #17

Since mining and gambling are not good options. Is there any suggestion about earning decent amount of bitcoins?

There is. Offer your skills. That may be programming skills, writing skills, etcetera in exchange of bitcoin.

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September 13, 2017, 07:43:23 AM
 #18

Since mining and gambling are not good options. Is there any suggestion about earning decent amount of bitcoins?
Of course there is it. Learn something than can help the world. For example how to create signature designs, how to create websites/apps and a lot of other stuff. You just have to find something you also like to do and money will come easy

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September 13, 2017, 07:45:16 AM
 #19

That's not the two of them, the answer to making you Bitcoins. In gambling yes you earn, but you also lose because of being greedy you win again. Such a gambling can quickly earn money but also quickly disappear. In the mining you will also earn a lot of money and you need more investment to use the computer devices to mine. The easier way to earn Bitcoins is Trading. Here it can be 100x or so if you know the trend of trading. So I can advise you on trading.

umbara ardian
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September 13, 2017, 07:46:27 AM
 #20

just a suggestion in my opinion more mining is recommended. than you are gambling if you gamble quickly produce but fast for poor gambling does not guarantee while the mine promises you can earn even a little money but so far no one has not managed to mine.

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