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Author Topic: "Bitcoin mining is a Big no!"  (Read 3561 times)
passivebesiege
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December 26, 2017, 01:01:41 PM
 #21

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?
cloudming is not really a passive income and its not a good start of  investment.  try to research the other cloud mining that already close a year ago they are all paid all member in the beggening and it does not last long . maybe  they give you a passive income today but no one know until when they will paid you, all of them will close someday when they get enough money then run.

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December 26, 2017, 01:22:53 PM
 #22

I know a little about cloud mining.
I think so far cloud mining is still very profitable although it is not recommended for beginners.
because there are many costs that need to be issued.
but if it can be well set.
this can produce quite large

I think majority of this cloud mining firms that run and give you a huge greed of double digit returns every month which would generally be given for some time and than you would be given some problems they are facing or some other thing due to which they will either delay your payment or stop making payments and turn out to be a scam where they took away your money.

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December 26, 2017, 02:40:54 PM
 #23

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 advise you should get away from it foremost, it must be scammers. We all know cloud  mining is  risk of fraud, ess fun and especially its lower profits. Nowadays, it’s easy for the scammers to make you believe in them by many different ways. So you need to be careful to avoid being cheated. I’ve heard one way which helps you start mining effectively is buying hardware. However, it’s really difficult to buy it cause its expensive and maybe waste electricity.

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December 26, 2017, 04:48:10 PM
 #24

Hi, I am looking for a way to earn some money without invest(because I am broke), I can dedicate 2 hours a day in that. what can I do to make a bitcoin per month without any investment?
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December 26, 2017, 08:51:05 PM
 #25

History has shown, that buying and holding, beats mining almost everytime.
Especially cloudmining, your just asking to be screwed overwinter them.

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December 27, 2017, 06:00:31 AM
 #26

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?

Even though the final decision rest on you. But you need to understand the very reason of those two positions because they might both be saying the truth. For the first category of advisers, you need to understand when they invested in cloud mining because at some point cloud mining was profitable but not any longer while to the other people, you also need to understand if they invested in the sites that you have been recommended before making your conclusion as that will guide the final decision making.
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December 28, 2017, 12:49:38 AM
 #27

My friend who is a bitcoin members and the one that told me about bitcoin says the same thing that investing in cloud mining is too risky and never give way to it.
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December 28, 2017, 01:22:57 AM
 #28

My friend who is a bitcoin members and the one that told me about bitcoin says the same thing that investing in cloud mining is too risky and never give way to it.
Cloud mining isn't risky at all since the result is known already. People aware of how things are know up front that it is nothing more than a scheme meant to make the people behind them earn money without any effort.

I am actually surprised that cloud mining till this day has managed to survive. It shows that there are enough idiots willing to invest their precious coins into something that will only make them lose.

There are far better ways of making money, and mining in its entirety isn't one of these options, unless you have a lot money free to invest in altcoin mining rigs, and even then, buying coins is a better way of making profits. Smiley

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December 28, 2017, 11:50:32 AM
 #29

My friend who is a bitcoin members and the one that told me about bitcoin says the same thing that investing in cloud mining is too risky and never give way to it.
The best cloud mining site I know is Genesis_Mining, but if this site turns out to be not paying decently and stops being profitable, tell me which other cloud mining would be? Cloud Mining used to be good back in the old days of Bitcoin, and not now, this time around I would prefer to go for the main Bitcoin Mining, than being into Cloud Mining cause it’s totally trash these days.

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December 28, 2017, 01:34:15 PM
 #30

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 agree with the people that you met!
Mining itself is not profitable unless you have the ability to acquire cheap mining rigs and you have an access to free electricity.

To acquire cheap mining rigs you need to either work at Nvidia or other miners producer company.
There are some areas in china that won't charge you for any electricty cost at all, so mining there could be profitable.

So unless you are close to a miners producer or you have an acess to free electricty , you shouldn't be considering mining at all.

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December 28, 2017, 03:12:54 PM
 #31

It's not idea to tell a beginner (a child ) that "mathematics ",for instance is a difficult subject rather you encourage the beginner.
Bitcoin mining, in my opinion is a big yes! Now, if miners have not mined the current bitcoin in circulation, how would users carry out day to day  transactions? Now it obvious that miniing is getting difficult by the day but miners must mine to reach the final mark in the future; and not just that,but keep monitoring of the daily blockchian transactions.
I think no matter how difficult or expensive mining is (cloud mining) there are investors in it and they may not mined at a lost all through. Be courageous and involve in mining whether cloud mining or others,there are risks in a every business .
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December 28, 2017, 04:51:17 PM
 #32

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?
Go for the second recommendation as mining requires a huge investment due to its expensive hardware requirement and electricity . On the other hand by doing trading and joining signatures you could earn good amount of money with almost no investment needed.
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December 28, 2017, 05:36:56 PM
 #33

yes indeed bitcoin mining is big no because cloud mining itself even is risky than solo mining and this is not recommended especially there are plenty of cloud mining scam site who only promising us big profit but eventually they only will stole our money and disappear and i personally had several times got scammed by cloud mining and i would never trust again them until whenever



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December 28, 2017, 05:54:20 PM
 #34

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?

Your team of financial advisers might be right on other suggestions they have proffered but the bold part is not the best way to earn bitcoin surely not the only way as the cloud mining section of the crypto community have been infested with scammers that to identify a legit one is gradually turning into a nightmare while when you eventually get one, you have to wait until forever to get a return.

I will be tilting towards the latter school of thought, you want to make more bitcoin buy, learn the art of trading, and then practice it as that is the only surest way.

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Fatunad
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December 28, 2017, 06:16:00 PM
 #35

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?

Your team of financial advisers might be right on other suggestions they have proffered but the bold part is not the best way to earn bitcoin surely not the only way as the cloud mining section of the crypto community have been infested with scammers that to identify a legit one is gradually turning into a nightmare while when you eventually get one, you have to wait until forever to get a return.

I will be tilting towards the latter school of thought, you want to make more bitcoin buy, learn the art of trading, and then practice it as that is the only surest way.
This would be the surest part which we can able to accumulate even more bitcoin.I dont see or even bother myself to put my money on these cloud minings which have been said most of them are infested by scammers which would really give the possibility for you to lose up money.Those suggestions by those advisor is considerable but they do really miss one point which isnt really true after all.
RamonBTC
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December 28, 2017, 06:20:33 PM
 #36

The title seems to be a little off with the content discussion. It is cloud mining that is a worthless and totally unprofitable. Not bitcoin mining especially using your own good hardware in earning passively. But I will recommend to used gpu like 1080ti that is worth the bucks with much higher hash rate. Because you can sold it, if you don’t use it anymore.
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December 28, 2017, 06:41:42 PM
 #37

I think cloudmining is just another waste of investment.  I have been around this environment since 2014, and if cloudmining is still profitable then why would CEX.IO change its service?  Though I can say there are still some legit cloudmining offers but majority of what is in the market now are all ponzi schemes where they pay us from the payment of their new entries.  Aside from that, with the ever growing hashes, the return of our fixed hash will continuuously go down unless we upgraded it. 
batang_bitcoin
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December 28, 2017, 09:45:53 PM
 #38

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?
Cloud mining is a big no and I guess you have to rephrase the title. There have been somehow trusted cloud mining site before and later it was collapsed so don't put yourself and amusement to cloud mining. Those people that you've met who are earning big bucks with bitcoin, listen to them they know how cloud mining works and why you didn't asked them on how they are gaining profit?

BillCoin
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December 29, 2017, 05:28:58 AM
 #39

I think cloudmining is just another waste of investment.  I have been around this environment since 2014, and if cloudmining is still profitable then why would CEX.IO change its service?  Though I can say there are still some legit cloudmining offers but majority of what is in the market now are all ponzi schemes where they pay us from the payment of their new entries.  Aside from that, with the ever growing hashes, the return of our fixed hash will continuuously go down unless we upgraded it. 

The big no here is that some cloud mining companys are actually a Ponzi scheme, and it's hard to determine whether a cloud mining company is a Ponzi Scheme or is actually legit.

That's the big reason you shouldn't be investing in cloud mining, because if you are not familliar with what you are doing, you can find yourself investing in a Ponzi scheme, which later can lead you to lose ALL of your investment funds.

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ActiveWizard77
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December 29, 2017, 05:52:50 AM
 #40

Some cloud mining are legit. But I don't think it will be profitable, cloud mining are sometimes just a Ponzi scheme that will collapse anytime.
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