"Bitcoin mining is a Big no!"

[Lock00Live]

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

You indeed know very little about cloud mining and that raises the question if you're the original owner of above account? As is, cloud mining ceased to be attractive to anyone as soon as they become experienced enough to see through their resemblance with any ponzi scheme out there. At best, those early payments are carrots before donkeys and unknown to many, it is sending back to you, tips of the much you already invested and only few are lucky enough to even recoup their investment before the party is over, because there usually are no mining hardware anywhere.

Haha, you have noticed something. Well, you have a great point. Cloud mining are just ponzi scheme, a waste of time and money. You don't have control on your investment and you aren't sure about the longevity of site you have joined.

It seems very difficult but I agree with your comment. I've also invested in bitcoin cloud-based websites, and what I've found is that after 3 months I have not yet recovered my capital, and more and more information about fraudulent websites. This makes me very confused. I advise newbies not to exploit bitcoin with the cloud.

[el kaka22]

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?

Unfortunately those who claimed to you to be a good financial adviser did not do a good job as they ended up giving you information that was not right. Cloud mining right now is the last thing you really want to do and you will be lucky to even get your investment back in the long run, better still, if you have enough bucks to invest, you can just start your own mining yourself or simply just buy bitcoin and keep in your wallet.

Mining is suggested only when industry level of operation is planned otherwise mining some altcoins and then converting into bitcoin is also a good idea for new aspirants.

[ultrloa]

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

You indeed know very little about cloud mining and that raises the question if you're the original owner of above account? As is, cloud mining ceased to be attractive to anyone as soon as they become experienced enough to see through their resemblance with any ponzi scheme out there. At best, those early payments are carrots before donkeys and unknown to many, it is sending back to you, tips of the much you already invested and only few are lucky enough to even recoup their investment before the party is over, because there usually are no mining hardware anywhere.

Haha, you have noticed something. Well, you have a great point. Cloud mining are just ponzi scheme, a waste of time and money. You don't have control on your investment and you aren't sure about the longevity of site you have joined.

It seems very difficult but I agree with your comment. I've also invested in bitcoin cloud-based websites, and what I've found is that after 3 months I have not yet recovered my capital, and more and more information about fraudulent websites. This makes me very confused. I advise newbies not to exploit bitcoin with the cloud.

To bad for you and this could be a good basis for us to double check or think twice before we put ourselves on risky situation, But I wouldn't recommend for those new headed guys to seek for that kind of platform since theirs nothing we can do with cloudbase mining platform since a huge chance that they will scam us and snatch our pockets. And the best platform for now to go with is on tradings since we can control our investment with this selection.

[Batmain]

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?

If you have a multi million funds then you must give mining a shot, if your funds are just in a medium range then BTC mining is not recommended because it is not profitable now, this time is not like that back in the old days. you should consider mining ETHEREUM or Zcash.

is there any cloudmining groups in south africa

I don't know and why did you bring you up these question?

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?

you know what? all users here in our forum most of them are not recommend cloud mining because of their experience on it, 95% of mining site are turn to scam and the rest 5% are legit to those who have tools or hardware for mining, which mean there is no reliable cloud mining site. if i where you I will forget cloud mining so I will not regret it later.

True, if you are thinking of mining online then you should stop because mining only exists in the actual production and making your own hardware, or mining rig.
But why you? that means you are not sure? or is it just a typo, if you're reading this then stop in cloud mining bro (ONLINE). I guess it is better to invest in legit ICO.

[lienfaye]

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?

Unfortunately those who claimed to you to be a good financial adviser did not do a good job as they ended up giving you information that was not right. Cloud mining right now is the last thing you really want to do and you will be lucky to even get your investment back in the long run, better still, if you have enough bucks to invest, you can just start your own mining yourself or simply just buy bitcoin and keep in your wallet.

Mining is suggested only when industry level of operation is planned otherwise mining some altcoins and then converting into bitcoin is also a good idea for new aspirants.

I agree with you cloud mining is not advisable to put your money now, majority of it are just ponzi schemes. They pay at first but will fail fo pay you as time passes and will only give you headaches. Listen to an experienced one who already earn bucks because there are many ways to earn crypto especially if you have good amount of capital.

[Darklinkz]

I never trust those crypto investments who operates online and just make promises. If only you have started your journey in hyips and faucets and you would know that none of these cloud mining is legit and just basically are all scams.

[Kayla]

Mining or buying bitcoin is almost the same, which is the benefit of bitcoin. Mining bitcoin requires big capital  and big risk, it is suitable for people who do not really like challenges or big risks. The profits are fast, but the profits are small. While buying bitcoin also has a greater risk, but the benefits are also very large. Capital does not have to be big, but it takes a long time to get big profits.

[btcblockchain]

Bitcoin mining  is nt so profitable compared to trading trading and holding is more profitable than mining

[madwica]

Bitcoin mining  is nt so profitable compared to trading trading and holding is more profitable than mining

It depends on how they you mine bitcoin, if you are using cloud mining yes that is not profitable but if you have mining rigs and powerful hardware i think mining is much better than trading because you do not need to monitor it daily unlike trading.

[carnut]

I think it comes down to risk tolerance. You can invest in mining equipment and feel some level of comfort knowing YOU hold and control your BTC.

Whereas with trading, you're dependent so much on the company behind the coin (altcoins). Or in some cases, an exchange locking up registrations, withdrawals, etc.

I like to control the money so, to me anyway, mining is the more comfortable way to go. Profitable? Maybe, maybe not. But I like to sleep good at night

[Mahanton]

Bitcoin mining  is nt so profitable compared to trading trading and holding is more profitable than mining

It depends on how they you mine bitcoin, if you are using cloud mining yes that is not profitable but if you have mining rigs and powerful hardware i think mining is much better than trading because you do not need to monitor it daily unlike trading.

Not all the times because when you do make mining physically doesnt mean you would really be profitable. Mining do have different areas which would only focus on bitcoin or on some alts which they do really require different miners or apparatus.For now large scale mining farm with asics+ less energy cost then it would really be profitable for you the same on GPU mining too but the advantage is on video cards is that you can choose up wide variety of coins.

[Crypto-Freedom]

Would say cloud mining isn't worth the investment as most aren't transparent enough and certainly not profitable enough to make it worth the time. I recommend selecting some good projects that are developing and simply buying into them. As the ROI will be much higher although initially not a lot of movement same as even buying mining equipment unless you can offset the power consumption its not really viable in many locations.

[richardsNY]

I like to control the money so, to me anyway, mining is the more comfortable way to go. Profitable? Maybe, maybe not. But I like to sleep good at night

Trading doesn't necessarily have to be something you are very active with. I for example consider myself to be an occasional trader, where I buy now, wait for the price to move up or down depending on my position at that time, and then comfortably strike. In some cases you can do so in a matter of days, and in some cases it takes a few weeks. If you play it smart, you can benefit from each direction the market heads into, so it's not that you can't sleep well -- that just plays inside your head. Mining requires you to keep an eye on so many crucial variables, that I see more risk in that part of the market than occasional trading what I do. On top of that, doing this occasional trading, or longer term holding of a certain coin, has proven to be more profitable. But then again, opinions may differ....

[JCLee]

On the issue of Bitcoin mining, over time the difficulty of Bitcoin digging has increased, as Bitcoin has a limit of 21 million coins. Offline mining, in my opinion, is safer than cloud mining, because it will be stored directly in the cold wallet instead of online storage as cloud mining. In terms of cost, cloud mining may be cheaper, but not as secure as offline mining.ß

[Zadicar]

I like to control the money so, to me anyway, mining is the more comfortable way to go. Profitable? Maybe, maybe not. But I like to sleep good at night

Trading doesn't necessarily have to be something you are very active with. I for example consider myself to be an occasional trader, where I buy now, wait for the price to move up or down depending on my position at that time, and then comfortably strike. In some cases you can do so in a matter of days, and in some cases it takes a few weeks. If you play it smart, you can benefit from each direction the market heads into, so it's not that you can't sleep well -- that just plays inside your head. Mining requires you to keep an eye on so many crucial variables, that I see more risk in that part of the market than occasional trading what I do. On top of that, doing this occasional trading, or longer term holding of a certain coin, has proven to be more profitable. But then again, opinions may differ....

I'm with you regarding into this which Is actually true that trading doesn't really be necessary to make ourselves suffer on having less sleep maybe on active traders but yet somehow this thing can really be changed up if we want to. Trading smartly with proper time management regarding on your trading positions will really tell the difference and in regards of profitability I would really go on trading since there are lots of coins to be chosen from it might not be on constant basis but potential profits is huge compared into mining and also its way to technical for me to maintain such farm.

[maarx]

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

You indeed know very little about cloud mining and that raises the question if you're the original owner of above account? As is, cloud mining ceased to be attractive to anyone as soon as they become experienced enough to see through their resemblance with any ponzi scheme out there. At best, those early payments are carrots before donkeys and unknown to many, it is sending back to you, tips of the much you already invested and only few are lucky enough to even recoup their investment before the party is over, because there usually are no mining hardware anywhere.

Haha, you have noticed something. Well, you have a great point. Cloud mining are just ponzi scheme, a waste of time and money. You don't have control on your investment and you aren't sure about the longevity of site you have joined.

It seems very difficult but I agree with your comment. I've also invested in bitcoin cloud-based websites, and what I've found is that after 3 months I have not yet recovered my capital, and more and more information about fraudulent websites. This makes me very confused. I advise newbies not to exploit bitcoin with the cloud.

Yup. So try mining alternative. I see my friend mining at home with a rig set earning a decent amount every month. Last month he shifted to nice hash and earning bit more than earlier. He advices not to get caught up with cloud mining. As said above, cloud mining is so attractive but none returns as a profit or income. One get cheated. Your pay at times become zero.

So try mining with PC at home if you are going for less capital investment. All the best.

[Granxis]

On the issue of Bitcoin mining, over time the difficulty of Bitcoin digging has increased, as Bitcoin has a limit of 21 million coins. Offline mining, in my opinion, is safer than cloud mining, because it will be stored directly in the cold wallet instead of online storage as cloud mining. In terms of cost, cloud mining may be cheaper, but not as secure as offline mining.ß

In fact, the limit of 21 million bitcoins, does not kill miners. Because when all Bitcoins are created, the miners will not get 12 Bitcoins (for now) they get from the blocks. But they will continue their business with fees from Bitcoin transfers. In this case, transfer fees will increase.

[darklus123]

On the issue of Bitcoin mining, over time the difficulty of Bitcoin digging has increased, as Bitcoin has a limit of 21 million coins. Offline mining, in my opinion, is safer than cloud mining, because it will be stored directly in the cold wallet instead of online storage as cloud mining. In terms of cost, cloud mining may be cheaper, but not as secure as offline mining.ß

In fact, the limit of 21 million bitcoins, does not kill miners. Because when all Bitcoins are created, the miners will not get 12 Bitcoins (for now) they get from the blocks. But they will continue their business with fees from Bitcoin transfers. In this case, transfer fees will increase.

It is indeed not killing miners neither nor will kill miners. We all know that mining is the core of bitcoin transactions and the transactions is the reason why bitcoin lives. Tho the current situation for bitcoin fees is just terrible

[Cryptron]

Well its not bad to mine if you can profit from it. What might consider is the place you will plant your mining rigs, if you will build a mining plant from a country that is hot and electricity bills is high that have many miscellaneous fee you might not earn enough or might mine nothing but for the bills.

[Granxis]

On the issue of Bitcoin mining, over time the difficulty of Bitcoin digging has increased, as Bitcoin has a limit of 21 million coins. Offline mining, in my opinion, is safer than cloud mining, because it will be stored directly in the cold wallet instead of online storage as cloud mining. In terms of cost, cloud mining may be cheaper, but not as secure as offline mining.ß

In fact, the limit of 21 million bitcoins, does not kill miners. Because when all Bitcoins are created, the miners will not get 12 Bitcoins (for now) they get from the blocks. But they will continue their business with fees from Bitcoin transfers. In this case, transfer fees will increase.

It is indeed not killing miners neither nor will kill miners. We all know that mining is the core of bitcoin transactions and the transactions is the reason why bitcoin lives. Tho the current situation for bitcoin fees is just terrible

The fact that the fees are so high today allows me to make predictions about the future Bitcointransfer fees. But there are remediation projects, a technology called Lightning Network promises hope. The Lightning Network is a useful technology for reducing the density on the blockchain as well as promises to make transfers instantaneously and free of fee, so it looks like you will be talking more about the name in the future.