"Bitcoin mining is a Big no!"

[Cryptagio]

Mining is not the best thing to do right now unless you are willing to build your own farm worth millions of USD

[jayhawk1]

Cloud is the place to store user information. Bitcoin does not use the user's personal information so there is no reason to exploit it in the cloud, which is unreasonable.

Bitcoin mining is a good thing to do actually but for a person who is having this much of resources that he can arrange some super computers having a fast processing speed and that he needs to set up mining fields. Other than mining fields, a lot of money will also be spent in order to meet the power and electricity problems and other expenditures. Mining is actually not that much feasible thing as compared to that of holding and trading.

[yanlap]

Cloud is the place to store user information. Bitcoin does not use the user's personal information so there is no reason to exploit it in the cloud, which is unreasonable.

Bitcoin mining is a good thing to do actually but for a person who is having this much of resources that he can arrange some super computers having a fast processing speed and that he needs to set up mining fields. Other than mining fields, a lot of money will also be spent in order to meet the power and electricity problems and other expenditures. Mining is actually not that much feasible thing as compared to that of holding and trading.

Yes bitcoin mining is the expensive way of earning it will give you profit but will take lot of money to spend as well. At first bitcoin mining need some equipment and that equipment are very expensive, after those equipotent your bitcoin mining will consume a lot of electricity and someday it will become unaffordable for you, but some people have made high profits even in this situation and a small patience made them millionaires forever. 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.

[jeepuerit]

Yes, bitcoin mining is not really big, because it is small and most are not sure whether it is legit or not, many mining sites are just wasted time because they do not transact or transfer.

[isyot12345]

Bitcoin mining is great platform to earn some standard income. But we need some equipment to do that. If we have equipment maybe we earn some good and high profit.

[mrcash02]

The contradiction has just one reason: Referral system. These "financial advisors" are probably trying to make some extra satoshis by referring Crypto newbies to invest in cloud minings. I have seen similar situations happening with some acquainted, people considerably well instructed being lured to invest in cloud mining believing that is the "hot" way to make profit with BTC.

One of the issues with Bitcoin nowadays is that people are being told about it by the wrong people...

[n0ne]

The contradiction has just one reason: Referral system. These "financial advisors" are probably trying to make some extra satoshis by referring Crypto newbies to invest in cloud minings. I have seen similar situations happening with some acquainted, people considerably well instructed being lured to invest in cloud mining believing that is the "hot" way to make profit with BTC.

One of the issues with Bitcoin nowadays is that people are being told about it by the wrong people...

Ponzi schemes quite often promote their services through referrals. Here newbies easily get into traps expecting big money without understanding the truth behind cloud mining websites. The user need to analyze and spending on real mining gives at least small income than getting scammed in cloud mining websites.

[Royal Jelly]

 I think if people are going to start mining now it's too late and a waste of time. If you have money and want to do mining then you need the highest pc rig

[eann014]

Bitcoin mining if just good to those who have free electricity but if you don't have free electricity, bitcoin mining is also not a profitable way to earn bitcoin for me trading is better than mining.

[Thanasis]

Mining is not the best thing to do right now unless you are willing to build your own farm worth millions of USD

Mining is always worth to do but now the rewards in the bitcoin mining decreased due to the difficulty level increase but still we can do mining if we have powerful ASIC miners it is worth and indeed for future too if there is no miner our transaction can not be confirmed.So miners are always important and worth but investment capital needed for that is high.

[winterland]

These financial advisers may be a bunch of scammers, and no one will suggest you invest in cloud mining sites, and most bitcoin mining is a scam.

If you're going to invest money in mining, just buy bitcoin, and let it grow in your wallet and I think that's a good way to do it.

I prefer to think of it as incompetence rather than financial advisers being scammers, but as you may guess that could be the case too, the reason I think this is the case is that like in anything there are people that are great at their jobs and there are people that suck and most financial advisers will give you advice you will find in a 10 dollar book or that is just common sense for people like us but some will try to give a few ideas to seem like they have knowledge they do not have and recommend scams as a result.

[neonshium]

These financial advisers may be a bunch of scammers, and no one will suggest you invest in cloud mining sites, and most bitcoin mining is a scam.

If you're going to invest money in mining, just buy bitcoin, and let it grow in your wallet and I think that's a good way to do it.

I prefer to think of it as incompetence rather than financial advisers being scammers, but as you may guess that could be the case too, the reason I think this is the case is that like in anything there are people that are great at their jobs and there are people that suck and most financial advisers will give you advice you will find in a 10 dollar book or that is just common sense for people like us but some will try to give a few ideas to seem like they have knowledge they do not have and recommend scams as a result.

If you living in an under developed country where there are not enough resources of power and electricity, I must say that it is better not to go for mining of any of the crypto coins no matter what as this will result in huge amount of investment and that you need to bear huge expenditures. However, if you really think that you can manage all the things, then you can go for it.

[nniecan001]

Why not folks, if you have enough capital, low value of electricity, good country weather, updated system technology knowledge (specially in bitcoin). It's up to you, just always remember "time flies away like an arrow". So decide now and be a source of bitcoin, cause this is the future currency.

[fasdorcas]

Based on my own experience, I will advise you not to step a foot on cloud mining, cause it’s not worth it. Cloud mining worthless this time around, and that has been since Bitcoin price went above $1k. When I got into Bitcoin, my favorite used to be Cloud mining, cause then I had no other option. But it was good then, and I was earning a good amount of money. As of now, it’s a No-No., you shouldn’t think of it.

I don’t know of Bitcoin mining, cause I haven’t done it before. But it will be better than cloud mining, I’m very sure of that.

[bitcoin31]

If we see cloudmining is obviously scam because it's look like an hyip or ponzi scheme after the few weeks or few months of paying partcipants it will gone or the founer will run with the funds of the investor.  Better to trade or buy an altcoin instead of investing in cloudmining because your profit is depends also what coin you have been invested or to your luck.

[Victor$]

If we see cloudmining is obviously scam because it's look like an hyip or ponzi scheme after the few weeks or few months of paying partcipants it will gone or the founer will run with the funds of the investor.  Better to trade or buy an altcoin instead of investing in cloudmining because your profit is depends also what coin you have been invested or to your luck.

Indeed it is risky because you will buy the highly expensive mining equipment and then at the end you will not the profit so it is good to buy the bitcoin and hold for the long time it is profitable and also very reliable and easy way of making money, trading could be risky so it is good to have a lot of information and knowledge about bitcoin trading also try to make long time trading instead of day trading, as it will be more profitable.

[Rampagoe004]

Talk about mining issues I understand a little, if the ordinary people plunge into the mine to use capital If small capital profit is also small in get, but if you have big capital profits are also big, most of which can manage properly yes get big profits miners first taste

[greeklogos]

I think you should to trust to opinion of those people who made money on bitcoin of course. If you want to mine my advice is to concentrate on real mining, but not on cloud one, and to chose some other coin, Etgerum would be perfect, but not on bitcoin, which private mining is almost impossible to manage already. Good luck!

[justdimin]

Bitcoin mining is great platform to earn some standard income. But we need some equipment to do that. If we have equipment maybe we earn some good and high profit.

If I want to earn extra, rather than tying down my capital with bitcoin mining that would end up with a lot of headache due to the high level of difficulty and unless you have a lot to invest and you have less electricity rate compared to a lot of countries, then it is better you just buy your coin at dip and hold or trade them. With that, at least I know all I need is just the knowledge and my capital is always going to be intact since I would not be losing most of the time anyway.

[Victor$]

Bitcoin mining is great platform to earn some standard income. But we need some equipment to do that. If we have equipment maybe we earn some good and high profit.

If I want to earn extra, rather than tying down my capital with bitcoin mining that would end up with a lot of headache due to the high level of difficulty and unless you have a lot to invest and you have less electricity rate compared to a lot of countries, then it is better you just buy your coin at dip and hold or trade them. With that, at least I know all I need is just the knowledge and my capital is always going to be intact since I would not be losing most of the time anyway.

yeah it does happen in bitcoin mining because they price is already increasing band the extra investment will be a part behind the screen when you will have to buy the mining equipment's and they are very costly so I think it is more than headache, you will have to arrange the mining equipment's then after that huge watts of electricity it will consume and you will be in lose at the end, so from my side it is no too, I prefer investing to the bitcoin and hold fr the long time, it is giving me high amount of profit that I am not in needs of mining now, I can invest low and get high profit.