"Bitcoin mining is a Big no!"

[South Park]

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?

Remember to always make your own research and also remember the next, try to listen to people that have expertise in whatever you want to know, a financial advisor may know about how to manage fiat and other investments but he probably doesn't know anything about bitcoin, those people that have said to you that cloudmining is a bad idea are right you should never invest in anything like that.

[blackandred]

i think cloud mining is a scam . if it is profitable , they can mine bitcoin on their own . buying hardware for excavation will put a lot of money and expensive electricity . the profit will be several years later . the best strategy is to buy bitcoin directly .

[Arkham Knight]

I've seen many huge cloud mining sites that turned into a scams but the real bitcoin mining where you have the hardware is legit. You just need to check first if you can handle the electricity bill but nevertheless it's still profitable.

[slaman29]

Lots have been said about Bitcoin mining... it's profitable, yes, can't argue against that, if managed well. But what's definitely obscure for me is the profitability of cloud mining sites. Almost everyone would agree from this forum that these are scams and I tend to agree.

If you want to mine, there's no choice. you've got to do it yourself. Cloud miners, legitimate or not, never show you what's actually going on with the hashpower you bought. And if you understand mining properly, there's no way you can earn fixed daily income as part of a pool. Which is what cloud mining offers. Just stay away, for the sake of your investment.

[zerotu]

hard to Mining Bitcoin now  difficulty and high hs , and also Expensive Miner tool

[rileynicole17]

Maybe because those different people earn through their waya and they are more on it than the other. I would suggest you to try on the second opinion you got because it is not that risky and you will not provide a big money for it.

[dongbat03]

Maybe because those different people earn through their waya and they are more on it than the other. I would suggest you to try on the second opinion you got because it is not that risky and you will not provide a big money for it.

It's a big NO  for me  because bitcoin mining is very costly  and no lifetime assurance

[OLPORTAL_Nastya]

Mining is already archaic method. it takes too much efforts and resources to earn some coins instead. I think the future is for staking

[Lehbane]

Out of 100 only. 01% are real things when it comes to offering Claudio mining on Bitcoin, and the  the rest is just 'drawing' if you know what I mean, the most of them are just fake and scam pretending to be a real apps for miners but only slowly curruption your account and some basic information about their miners to penetrate of their personal accounts or related accounts.

[Rmcdermott927]

Any investor who told you the best way to earn bitcoin is cloud mining is likely not a good investor.  Think about it, you are paying for someone else’s electricity, time, space, and equipment and they expect to see a profit on their investment.  If you pay a low enough rate per kWh, you could likely turn a much better profit on your own. 

Currently, the best option is to just buy BTC with fiat and hold onto it. 

[nelsledma]

I've seen many huge cloud mining sites that turned into a scams but the real bitcoin mining where you have the hardware is legit. You just need to check first if you can handle the electricity bill but nevertheless it's still profitable.

There is nothing bad in doing bitcoin mining or the mining of any other crypto coin and that there are people who have set up mining fields and that they are using those fields to mine the crypto coins. However, the only thing which you must keep in your mind is that it is very much costly thing to do and that this will result in lot of consumption of the resources along with huge investment amount.

[CryptoMao]

Well, you need to trust that they aren't a scam which is easier said than done. If the financial advisor knows one who is legit and can show you the numbers, then maybe you could consider them. For the most part, just avoid.

[robertkamerer]

I don't know of a single Cloud mining service that's not a scam.

[Thian778]

Joining to groups wherein they do cloud mining is a little bit risky since you don't know them personally or they are not in your place either, but owning a mining equipment that is another issue since whatever you mine it's all yours but maintaining a mining tools is expensive so you need to earn big to keep those thing working.

[reighbut2017]

Joining to groups wherein they do cloud mining is a little bit risky since you don't know them personally or they are not in your place either, but owning a mining equipment that is another issue since whatever you mine it's all yours but maintaining a mining tools is expensive so you need to earn big to keep those thing working.

Bitcoin mining is not my priority because it requires to put-up money as capital to buy expensive computer system, so instead, i partcipating in bounty campaigns so i can start eaning bounty rewards once ICOs is successful.

[raybut37]

Joining to groups wherein they do cloud mining is a little bit risky since you don't know them personally or they are not in your place either, but owning a mining equipment that is another issue since whatever you mine it's all yours but maintaining a mining tools is expensive so you need to earn big to keep those thing working.

Im not in favor in bitcoin mining because aside from very risky the computer hardware is also very expensive so instead of buying mining rig, i prefer to buy directly cryptocurrency to start earning.

[Blue Bell]

Maybe because those different people earn through their waya and they are more on it than the other. I would suggest you to try on the second opinion you got because it is not that risky and you will not provide a big money for it.

It's a big NO  for me  because bitcoin mining is very costly  and no lifetime assurance

Well it is not like to say only NO because according to me if you have amount of money you can go for it as if you have multi millionaires funds in your pocket you must try mining once as it gives high and fast profit but if your income and funds is not very high then mining is not recommended right now, because it is not making profit these days for low income people but will be good to mine at December 18 so better wait till then.

[3rrr angels]

Joining to groups wherein they do cloud mining is a little bit risky since you don't know them personally or they are not in your place either, but owning a mining equipment that is another issue since whatever you mine it's all yours but maintaining a mining tools is expensive so you need to earn big to keep those thing working.

Im not in favor in bitcoin mining because aside from very risky the computer hardware is also very expensive so instead of buying mining rig, i prefer to buy directly cryptocurrency to start earning.

Agree, we don't know yet what will happen to our mining rig investment if it can survive and earn the amount what we expected.

[daxiake]

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?

BTC mining needs powerful ASIC hardware and you cant do that on normal PCs. I am not saying that cloud mining is a scam but we mostly hear negative news about cloud mining. That's why I think the risk is a bit high if you are going to mine BTC using a cloud.

[Vinalians]

In the situation right now of bitcoin we could say that no to mining first because like i said earlier the situation of bitcoin right now is not good. The value of bitcoin as of today is again decrease at 5% above and it looks like it is decreasing more so for now mining is not profitable but it can be in the future.