"Bitcoin mining is a Big no!"

[richardsNY]

bitcoin mining is good and can make some profits from it and No for newbie.

Bitcoin mining isn't profitable either for the far majority of the people, so it's pointless even mentioning that. The only entities managing to make actual profit are those with hundreds of thousands worth of equipment at minimum, and even they need to invest in more gear from time to time. If you don't upgrade your gear, the increasing difficulty will make sure there is no point in keeping your operations running any longer. People for once should understand to put mining aside completely, because it doesn't bring you anywhere -- the far majority of the people regret having invested into anything that's mining related, so why continue to go through all this?

[Bect1936]

Bitcoin mining profit depend on your place.
in china and other countries bitcoin mining make real profit but in others is Big No "income tax and electric bill "
 electric bill is what keep your profits up because your total costs will be less than all miners and so that they will start thinking not to sell it.
you can earn more with cold wearthe, you dont need to buy fans and other cooling system

[Koadharber]

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 that mining with graphics cards is nowdays a risky bet at most. Normally, if the benefits are particularly good due to good prices and plenty of coins to mine many more people go into it and the profit goes down. ASIC mining is probably even worse, as the really fat whales are into it.

GPU or ASIC mining both do have risk if we do try to look on mining difficulty which we do know it do rise up overtime. The fact there that most people do focus on GPU since its lesser on price not like on asic and they can able to mine out lots of coins which is mineable by VC but regarding profitability it can give you the chance but still you would need to consider the most common things which is electricity.

[Mister1k]

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 that mining with graphics cards is nowdays a risky bet at most. Normally, if the benefits are particularly good due to good prices and plenty of coins to mine many more people go into it and the profit goes down. ASIC mining is probably even worse, as the really fat whales are into it.

GPU or ASIC mining both do have risk if we do try to look on mining difficulty which we do know it do rise up overtime. The fact there that most people do focus on GPU since its lesser on price not like on asic and they can able to mine out lots of coins which is mineable by VC but regarding profitability it can give you the chance but still you would need to consider the most common things which is electricity.

How do you say GPU and ASIC mining both are risky bro. There are many people mining bitcoin and alts for making money. Next development projects on crypto platform this is the highly earning option.
Difficulty is need to worry when you have the cheap hash given hardware or GPU cards. When you have antminer s9 or other than that you will get the profit for sure with that. GPU rig is good for mining ETH or other alts.

[rhamzter]

bitcoin mining is good and can make some profits from it and No for newbie.

Bitcoin mining isn't profitable either for the far majority of the people, so it's pointless even mentioning that. The only entities managing to make actual profit are those with hundreds of thousands worth of equipment at minimum, and even they need to invest in more gear from time to time. If you don't upgrade your gear, the increasing difficulty will make sure there is no point in keeping your operations running any longer. People for once should understand to put mining aside completely, because it doesn't bring you anywhere -- the far majority of the people regret having invested into anything that's mining related, so why continue to go through all this?

Actually mining is a time consuming and they need high amount of investment. Because this projects are needed a lot like tools, electricity and others. Maybe mining was depending to the capacity of the users together with the location.

[zlatan07]

Most Bitcoin Cloud Mining Companies are Scams

[pokeronlinestatus]

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?

There are two sets of people that you have talked to. The first group of people you have talked is knows nothing and just want to earn quick bucks by investing on cloud mining sites, however, there are only few trusted mining sites that really give you good returns, and most of them are scams. While the second set of people, are really traders and have been in the business too long that they have earning big bucks already. They know the ins and outs and have been in the industry for so long and experience says that is the best way, not investing in cloud mining. Reason to the second set of people that you have meet, they know what they are saying and you should try it. Trading is risky YES, they are right, but the risk comes with big rewards as well.

I took think that for now bitcoin mining is not too profitable instead of if it is done on a large scale. Mining is becoming difficult more and more days as the number of t. But still trading is more profitable compared to mining for now transactions are increasing and also the power needed to mining.

Bitcoin trading is in the other had more profitable as more and more new coins are getting listed on exchange and this has increased the chance to earn money for the traders.

[Fantastic33]

Cloud mining is profitable but it is very difficult to mine, and i think its not a good idea. Also, you need certain equipment to mine. Mining is very risky, and there are only few trusted mining sites. If you want to earn, then do it on a right way just like trading. Its more profitable than mining. Just be patient and plan your actions very carefully, then success will follow.

If you want to read about the advantages and disadvatages of mining, then click on the link below.
http://techglamour.com/cloud-mining-advantages-and-disadvantages/

[d0nsly]

It better to mine altcoins than bitcoin, you can probably consider ethereum, bitcoin gold or monero

[ivrynx]

I think this depends on your situation, if you located on a cold place and the cost of electricity is low, why not mine bitcoin as, since you can still profit, but if all the factors that will help you mine will cost more than your earnings, then stop. As an investor, bitcoin still gives us income, why stop, though there are alot of altcoins out there, they still can be converted to bitcoin, i am not against mining altcoins, but why would we stop mining bitcoin, if it still gives us profit, the term is not being greedy, but being practical and expanding your investments.

[MoneyMotivatesMe]

Most Bitcoin Cloud Mining Companies are Scams

Like the heading says, most cloud mining contracts are scams. Why?
Because it’s easy for companies to take peoples’ money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware. So remember: 99% of cloud mining companies are scams.

'


Absolutely. I've encountered many of them in social media and all these sites are gone quickly with all the investor's money on their pockets.

[glowing10]

bitcoin mining is good and can make some profits from it and No for newbie.

Bitcoin mining isn't profitable either for the far majority of the people, so it's pointless even mentioning that. The only entities managing to make actual profit are those with hundreds of thousands worth of equipment at minimum, and even they need to invest in more gear from time to time. If you don't upgrade your gear, the increasing difficulty will make sure there is no point in keeping your operations running any longer. People for once should understand to put mining aside completely, because it doesn't bring you anywhere -- the far majority of the people regret having invested into anything that's mining related, so why continue to go through all this?

Actually mining is a time consuming and they need high amount of investment. Because this projects are needed a lot like tools, electricity and others. Maybe mining was depending to the capacity of the users together with the location.

Location will play a vital role because its possible that electricity would be very cheap at that place and on other hand many countries have the high cost thus this difference would kill your profits as the level of difficulty will keep increasing to mine any of the coins. So people avoid nowdays mining instead look to invest directly.

[yojodojo21]

Cloud mining is crazy as f*** sorry for the word, they keep on telling yeah it's good but it's really not, on the first place they can do it by themselves mine bitcoin on how much amount they have but investing to it, is like cutting your money and burn it.

[Laland]

Cloud mining is crazy as f*** sorry for the word, they keep on telling yeah it's good but it's really not, on the first place they can do it by themselves mine bitcoin on how much amount they have but investing to it, is like cutting your money and burn it.

Off they would tell you that but it is in each users to know what is legit or not. If its too easy that all you have to do is invest at their site then wait for profit, then it is a scam. Sure bitcoin is investing but you have to manually work for it, not just some automatic profiting like some of these cloudming sites.

[dharnamonitor]

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?

That group of financial advisers are probably group of scammers, no one would suggest you to invest money into cloud mining sites because mostly they are ponzi scams.
You should listen to other group who told you that you should stay away from cloud mining.

Hahaha 😂. I also have some second thought about it whether those financial advisers he said were real or fake. Even though I'm not expert than them, I could still be sure to recommend someone  to keep away from those schemes.  Lol

[lady pink]

bitcoin mining is good and can make some profits from it and No for newbie.

Bitcoin mining isn't profitable either for the far majority of the people, so it's pointless even mentioning that. The only entities managing to make actual profit are those with hundreds of thousands worth of equipment at minimum, and even they need to invest in more gear from time to time. If you don't upgrade your gear, the increasing difficulty will make sure there is no point in keeping your operations running any longer. People for once should understand to put mining aside completely, because it doesn't bring you anywhere -- the far majority of the people regret having invested into anything that's mining related, so why continue to go through all this?

Actually mining is a time consuming and they need high amount of investment. Because this projects are needed a lot like tools, electricity and others. Maybe mining was depending to the capacity of the users together with the location.

Location will play a vital role because its possible that electricity would be very cheap at that place and on other hand many countries have the high cost thus this difference would kill your profits as the level of difficulty will keep increasing to mine any of the coins. So people avoid nowdays mining instead look to invest directly.

Bitcoin mining becoming expensive, consuming high level energy could enter bitcoin into dark age. Being avoided by miners is a threat to bitcoin's future. One of the report says that bitcoin mining will consume more power than the whole world by 2020. If it is true then Bitcoin will face a lot of new problems than it have today.   

[bitbunnny]

To invest in mining on your own has become too expensive having in mind the final profit. Unless you don't have some mining farm you can't expect much and the expenses are high.
That was one of the reasons why people thought cloud mining could be the solution but there are so much scam scheems that is very hard to distinguish what is legit and what not.

[serjent05]

To invest in mining on your own has become too expensive having in mind the final profit. Unless you don't have some mining farm you can't expect much and the expenses are high.
That was one of the reasons why people thought cloud mining could be the solution but there are so much scam scheems that is very hard to distinguish what is legit and what not.

True!  I have been here since 2014, around that time until now there are lots of cloudmining company that turned scam.  I was also a victim of that scam but oh well, lesson learned.  Though I can say there are cloudmining that are still legit up to date, but when they will turn to scam is unknown yet (possibility is big though).  Given, that cloudmining is a legit stuff, the problem would be the diminshing return of investment.  The ever increasing difficulty and hashrate of the entire coin's ecosystem will render your investment to have less and less return unless you upgrade.  That is the unevitable feature of cloudmining.  The ROI will really take a very long time.

[hkall_018]

Indeed cloud mining could be risky, but after all its wise to invest in the crypto world with money you can afford to lose, whether its a risk of a scam could mining contract, or even the cryptocurrency market crashed and the so-called bubble "burst" having said that: if you're willing to take the risk with money you can afford to lose (and equally chance of big returns) then cloud mining is much easier than buying & maintaining ASIC miners. You can also setup a GPU miner and rent it out in return of Bitcoin revenue which is kind of somewhere in the middle. I'm actually doing both; I'm using a couple of cloud mining services that provides constant payouts in BTC and also running a small mining rig that also gives me small portion of BTC every day.. If you're interested I can refer you to the cloud mining services I'm using.

[noloco]

If you have the funds to contract cloud mining, you have the funds to buy directly on any market.

Bitcoin is not a rare coin where you need to mine to get some.

Cloud mining adds the risk of time to the transaction vs buying.