"Bitcoin mining is a Big no!"

[mersal]

Mining is profitable in the long run.
It is cost effective token set up the hardware.
Over a period of time you reap rewards.

People in our country prefer to invest or trade rather than mine as the electricity cost is very high due to which profitability starts after many years if some one has to min btc. If some of the good coins needs to be mined than the difficulty level is very high and thus make not much sense if ROI is after years and not within a year.

When you enter into mine bitcoin the moment of is something different from trading and investing because mining gives more comfort to us because we are the creator of Bitcoin so you cannot make it as possible but mining needs more electricity it will be the car back for that .

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[Oilacris]

   Mining is good but it depend on the area because mining bitcoin must be in a cold area to minimize the electricity consumption. One thing more all the materials needed for mining are very expensive. And if you think cloud mining much better to follow the others advice to stay away because really most of cloud mining are scams, unless you want to try it with all your risks. Sometime people need to try before they believe what others said.

thats right. There are lots of factors that needs to be considerd before we start mining because mining is not an easy job. Mining is only for professionals that has a passion for it , mining is not for casual people that is only looking for some quick bucks.

bitcoin mining is a big no for people who dont have a capital and a dedication to do it.

much better if you can just do trading or investing  because these two activities are indeed more profitable and enjoyable than an actual mining.

Mining is worthy if you do really have the interest on it and when it comes to financial you are capable on investing such thing since we do know that cost of miners arent cheap which means even an average joe would really have a hard time on making a purchase even a single miner and without even thinking up the factors should be considered turns out to be possibly not being profitable which is a disaster.

[ivrynx]

Beforr mining is profitable, but now though it still is, it seems that the costs of mining including the repairs and electricity is just equivalent to thr value of bitcoin that you had mined, it seems like you are just breaking even, also for bitcoin, there are only a few thousands to mine left, instead of mining, trading and accumulation is much more advisable since you will baisaclly obtain bitcoin as well, it costs much less than mining and all you got to do wait for confirmations, but still if want to try mining, just make sure that you are updated with thr current block, how much is left, and what will be the cost of all expenses.

[voztata]

Mining is profitable in the long run.
It is cost effective token set up the hardware.
Over a period of time you reap rewards.

People in our country prefer to invest or trade rather than mine as the electricity cost is very high due to which profitability starts after many years if some one has to min btc. If some of the good coins needs to be mined than the difficulty level is very high and thus make not much sense if ROI is after years and not within a year.

The cost which is needed to set up a mining field is no doubt quite higher and that because of which, most of the people don’t think it to be a very good idea. Other than this, the resources problem is another issue which does not allow us to go for any such thing as this will then result in huge loss too. So, you need to go for investing in different crypto coins and that you can also go for trading as well.

[nikolas8667]

Yes bitcoin mining is the expensive way of earning it will give you profit but will take lot of money to spend as well. So bitcoin mining can be good and bad at the same time, but if you can have the stamina to go through these conditions you can earn high profit!!!

[luffy_OP]

yeah i think for now, investing in bitcoin mining is a no because the prize of btc is low.

[coingrowth]

Bitcoin mining work for large sum of investors and more importantly the one who invested in early 2014 but now the market is nt competent to invest and take profits i preferably say big no

[Marcel666]

Although the mining gear and hardware are very expensive. It is a way of getting steady income, if done properly

[Question123]

Bitcoin mining work for large sum of investors and more importantly the one who invested in early 2014 but now the market is nt competent to invest and take profits i preferably say big no

If you are miner on that year and you hold your bitcoin for few years and they sell bitcoin when price reach $20,000 they will earn more money and mining is best for them. Many miner are left because of the bitcoin but I think you can get enough profit to mining but you need better plan. Maybe yes or maybe no depends on how you mine and handle and your plan.

[boss1dg]

Bitcoin mining work for large sum of investors and more importantly the one who invested in early 2014 but now the market is nt competent to invest and take profits i preferably say big no

If you are miner on that year and you hold your bitcoin for few years and they sell bitcoin when price reach $20,000 they will earn more money and mining is best for them. Many miner are left because of the bitcoin but I think you can get enough profit to mining but you need better plan. Maybe yes or maybe no depends on how you mine and handle and your plan.

but how a miner can hold bitcoin for years , bcoz they spend money on mining as operational cost which is paid by their own pocket and for years paying fees from own pocket without any return will not suit to many miners . even a miner farm having lot of money may not do it . suppose if prices dip further then they will affected more n more .

[bohr]

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 that has been known by the community for a very long time, now mining is an option if you can afford to buy the latest equipment and have access to cheap electricity if that is not the case then you are probably way better by just investing that fiat money in bitcoin directly or you could mine new and promising coins and wait for those coins to skyrocket.

[Activitycoin]

yeah i think for now, investing in bitcoin mining is a no because the prize of btc is low.

I agree bitcoin mining is not good only for now, we should hold it, mining will be open for us I think in December but i will not consider it advisable, most of people are now a day invest so I think it is good to invest in bitcoin or you can go for trading but mining will be good choice at the end of year, I prefer holding than mining.

[TheGreatPython]

   Mining is good but it depend on the area because mining bitcoin must be in a cold area to minimize the electricity consumption. One thing more all the materials needed for mining are very expensive. And if you think cloud mining much better to follow the others advice to stay away because really most of cloud mining are scams, unless you want to try it with all your risks. Sometime people need to try before they believe what others said.

thats right. There are lots of factors that needs to be considerd before we start mining because mining is not an easy job. Mining is only for professionals that has a passion for it , mining is not for casual people that is only looking for some quick bucks.

bitcoin mining is a big no for people who dont have a capital and a dedication to do it.

much better if you can just do trading or investing  because these two activities are indeed more profitable and enjoyable than an actual mining.

Mining is worthy if you do really have the interest on it and when it comes to financial you are capable on investing such thing since we do know that cost of miners arent cheap which means even an average joe would really have a hard time on making a purchase even a single miner and without even thinking up the factors should be considered turns out to be possibly not being profitable which is a disaster.

Yeah you are right. In all sectors of cryptocurrency mining is on the top for earning money. You can cover your expenses on mining in just a few months, but it is true that it is not easy task. The main problem is that of electricity because it consumed lot of electricity and you need cool place for mining. Now many people shifted their mining program to china because of the cheap labor and electricity.

[Sengoko]

Beforr mining is profitable, but now though it still is, it seems that the costs of mining including the repairs and electricity is just equivalent to thr value of bitcoin that you had mined, it seems like you are just breaking even, also for bitcoin, there are only a few thousands to mine left, instead of mining, trading and accumulation is much more advisable since you will baisaclly obtain bitcoin as well, it costs much less than mining and all you got to do wait for confirmations, but still if want to try mining, just make sure that you are updated with thr current block, how much is left, and what will be the cost of all expenses.

If so then no body will mine coins and thus the price of almost every coin will rise like a rocket and the existing holders will make thousands of dollars against their coins. I think that people are still mining crypto and they are earning big money. It is the best sector for earning more and more money in short time without waiting and holding coins for long time.

[matchi2011]

Beforr mining is profitable, but now though it still is, it seems that the costs of mining including the repairs and electricity is just equivalent to thr value of bitcoin that you had mined, it seems like you are just breaking even, also for bitcoin, there are only a few thousands to mine left, instead of mining, trading and accumulation is much more advisable since you will baisaclly obtain bitcoin as well, it costs much less than mining and all you got to do wait for confirmations, but still if want to try mining, just make sure that you are updated with thr current block, how much is left, and what will be the cost of all expenses.

If so then no body will mine coins and thus the price of almost every coin will rise like a rocket and the existing holders will make thousands of dollars against their coins. I think that people are still mining crypto and they are earning big money. It is the best sector for earning more and more money in short time without waiting and holding coins for long time.

Physical mining still active as miners will just turned their rigs to any alternatives that can bring them some gains, but with cloud mining I'm not sure if what the future for this type of investment how could they can possibly maintain their equipments if there's no investors anymore that will invest money it will be a risk better to research more and find the positive and negative side from both area of investment.

[royal slave01]

Yes, i don't like mining because the computer hardware is too expensive and with high electricity cost but the amount we earned during mining is just too small and cant compensate the high electricity cost.

[Voidcrafter]

Cloud mining is a Ponzi scheme, a Scam. Guarantee your investment in this scheme you no one can give. You risk it. In your place I would have just bought coins, Ethereum, or bitcoin and was waiting when the price will rise above.

[green_fish]

The main risk of mining is environmental issues. The mining machine is not a zero-emission device, it creates a lot of noise and heat.
You need to set fire, but also room noise, but also consider the safety of the operating workers!

[gamechangers]

Bitcoin mining is a big no for me too. I will rather invest my money in buying and HODL and I can be sure of making profit.  I have researched and so far I cannot find any profitable mining platform. Virtually all of them are out to feed on you. Recovering your initial investment in mining can be very challenging.

[Bestly]

I learnt few things here.
Conclusively, there are more individuals who don't see mining of Bitcoin as a wise investment.
Some who argue in contrary seem to say reasons which are in line with few facts I have heard before.

I tend to be surprised that out of all comments, there is hardly anyone who could come out to talk from experience trying this out, it shouldn't have been hard for any to defend if it has really been profitable especially by someone who has made profits from it.
Some folks have been dangling an idea of particular mining platform before me to invest, I think I have reason to be more careful now.