"Bitcoin mining is a Big no!"

[Angle22]

why can't it be big ...? , because bitcoin has not been officially used as a currency, and many do not know bitcoin, therefore bitcoin cannot be perfect yet. If bitcoin can often make campaigns, it is likely that bitcoin can be a big mining

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[DaughterOFbitcoin]

you can ask for some advice and recommendation.

Most of the miners are in Asia, because the cost of mining is low in Asian countries. In west the labor cost is high and miners cannot save handsome money. That’s why they are quitting mining or mining very small quantity. Mining is no more profitable and when there is no profit why one should waste time and money in such activity or business.

I am not in favor of cloud mining. If you can do mining by yourself its ok, if not then invest your money somewhere else, but don’t even think of cloud mining. Anyway miner think that the profit margin has reduced due to fall in the price and there is no positive attitude in the market, the price is not increasing for the last several months, therefore they are not happy in mining.

[Ganbound]

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?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.

Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.

I don’t believe in cloud mining because you don’t know the miner and give your money to an anonymous person. It is much better to set at home and done work. Atleast you will not lose your money if you are not earning. Cloud mining means to give the keys of your wallet to a person whom you don’t know. Anyway I think that mining should be continued but not cloud mining.

[lauder_larger]

Bitcoin mining is not the option for me to make passive income because I doubt if one will make enough passive income to cover for his investment. I am yet to see anyone who completed his cloud mining without any issues along the line. Majority of the cloud mining firms are scams. Just buy your bitcoin and hold.

Bitcoin miners know that the price is not increasing for long time and the profit mark=gin is very low because of low bitcoin price in the market, that’s why they are dishearten and now they are also thinking to start some regular business. In these days mining is just a waste of time and money. It is better to change your profession for good future.

I also think the same if miners do not make any profit why they would mine bitcoin? Everyone is here for making money, traders, investors and miners and if traders and longtime holders make money and miners are just wasting their time, they would definitely quit mining and start some other business or trade in Altcoin or even mine Altcoin. It will be better than bitcoin mining.

[Ericgreen]

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?

the decision is in your hands, if you want to get a lot of bitcoin you can do it by mining, but in this way you need huge capital for the mining needs.
according to my advice, you should just do trading to get a lot of bitcoin, with your diligence and ugliness you might be able to generate bitcoin with a lot.

Agree with the discussion, it is all about us, if we will have enough money to manage the expenses I am sure we will get huge amount of profit, mining actually gives better profit but it takes time and needs money to use, now a day we are able to see mining is making bigger scope in market because mining has become a solar system holder and we can use solar system to generate better profit from mining.

Bitcoin mining is no more profitable in this price therefore most of the miners think to start some other job or work. They think that if the price of bitcoin falls a bit more then there would be no bitcoin mining and the supply will be reduced more. This is not good for overall bitcoin because the investors will be low and so the use. Minimum price of bitcoin should be atleast $6000.

[btcmegastar]

Now bitcoin mining is not profitable because the difficulty of maturing the coins are taking too long. So now we are in an unpredictable situation so if we are not making profits better stay away from bitcoin mining otherwise expenses of power consumption will be more.

[remuy24]

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. cloud mining is very dangerous and the risk is quite high, I have tried it and proven at the beginning of the pay and the next payment they have not paid again. I suggest that you make a trade and learn to invest

[escalante28]

It's up to you mate, I believed cloud mining is profitable if you invested it in the right company. Try to figure out every mining platform you're investing because there are companies that can't give you profit and some of them are scam. It's a matter who and how you're going to choose but if I were you, invest your own mining tools, if you have a capital for solar panel and mining rig din do it.

[prtty2gal2]

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 never checked out cloud mining and the real mining and I don’t know which one of them works better. But I know a friend that was doing cloud mining and I believe he was making lots of profit from it, according to what he has said.

But after I went online, I started seeing people claiming that cloud mining is nothing and that profits never come from it. From what I’ve been seeing online, seems like both type of mining are not profitable unless you’re able to set up a huge mining farm.

[yvesp110]

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?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.

Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.

I don’t believe in cloud mining because you don’t know the miner and give your money to an anonymous person. It is much better to set at home and done work. Atleast you will not lose your money if you are not earning. Cloud mining means to give the keys of your wallet to a person whom you don’t know. Anyway I think that mining should be continued but not cloud mining.

Agree with you, we all should do this because safety is all about mot to share your private key with anyone, if you will share it with unknown people so they will hack your bitcoin wallet, I think it is good to mine normally instead of cloud mining, for this you will only have to buy the equipment and to pay the bills, now it is good time for being a miner as much as you will pay your money to mine, it will give you huge amount of profit so don’t say no to the entire mining.

[ovcijisir]

Last time I was checking vast majority of hash power was in control of few mining pools located in China.

I wonder if that is still the case ...

[syamster]

Bitcoin mining before is much profitable but when the value rising it became too hard to get profit in mining but still there are company that continuous using this method to generate income and i do not know if there are still individual who are continuous mining even this time which very hard to mine bitcoin.

With the fallen prices in btc, mining is not recommended and I do not intend to do it. It is better to upgrade your skills in trading, identify investment opportunities with ICO coins can yield you much profits in the short and long term rather than mining the coins now.

Well said mate, you are absolutely right that we should try to improve our skills in trading and it investing, joining campaigns, but a bit disagreement I will show because I think mining should not be totally avoid because it is also one of way to make big profit, so it is good to make better skills for mining , it only needs money to buy equipment and to afford the electricity bills after that it will be full of profit.

[samuland5]

why can't it be big ...? , because bitcoin has not been officially used as a currency, and many do not know bitcoin, therefore bitcoin cannot be perfect yet. If bitcoin can often make campaigns, it is likely that bitcoin can be a big mining

No the reason is not that it is not centralized but the reason is that miners do not get profit because of low price of bitcoin. When the price rises up miners make more profit because they receive big money for their bitcoin. Now the expenses are high and profit is less. If the price falls a bit more they will definitely stop mining. Not earning is better than losing money and time.

[realBitcoiner]

you can ask for some advice and recommendation.

Most of the miners are in Asia, because the cost of mining is low in Asian countries. In west the labor cost is high and miners cannot save handsome money. That’s why they are quitting mining or mining very small quantity. Mining is no more profitable and when there is no profit why one should waste time and money in such activity or business.

I am not in favor of cloud mining. If you can do mining by yourself its ok, if not then invest your money somewhere else, but don’t even think of cloud mining. Anyway miner think that the profit margin has reduced due to fall in the price and there is no positive attitude in the market, the price is not increasing for the last several months, therefore they are not happy in mining.

Yeah you are right in Asian countries you can find cheap labor and the cost of electricity is also normal. You can also find big place for mining on low rend. Everything is cheap in Asia compare to Europe and America. Miners in Asia earn more money than miners in west because the price of bitcoin is one in the whole world and mining expenses differs in Asian and western countries.

[vinjan]

Because cloud mining is almost entirely scamm, first they did pay but eventually they didn't pay. they are lost and they are running away with investor money.
i have experienced it

[Tungsten-1]

Now bitcoin mining is not profitable because the difficulty of maturing the coins are taking too long. So now we are in an unpredictable situation so if we are not making profits better stay away from bitcoin mining otherwise expenses of power consumption will be more.

I think wse should not think like this, mining is the best source of earning for a lot of people, we should be wise while making decisions, it is not good to say no for anything related to cryptocurrency because any investment can make us rich, no matter it is investment, trading, or mining, all we need is money and experience, if we are good at something only then we should try but patience should be our first thing to choose for making profit.

[Sanu Simon]

Because cloud mining is almost entirely scamm, first they did pay but eventually they didn't pay. they are lost and they are running away with investor money.
i have experienced it

That's true, myself too haven't found any legit cloud mining services. Initially they pay and when days pass we won't be paid. Also we cannot request or do anything as each and every process happens through internet. Now as the price has fallen low no coin seems profitable to mine.

[btcmegastar]

We are seeing many cloud mining based companies scamming a lot of people in the market which makes us it is a very tough job to make coins through the mining. So it is very hard to get Bitcoin through mining because due to difficulty now we are facing it which it will take time to mature coins.

[Hans17]

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?

Basically in the world or industry of mining bitcoin, you need a right amount of knowledge regarding on how and why it's very risky yet profitable. In the case as of now we can see that bitcoin is very low, and some people are using mining to get out of it, to somehow earn. Which is very beneficial because mining is a passive income, and yes its very expensive, well despite the fact that it's expensive. In the end it's all worth it, so for me and for what i believe is bitcoin mining is a big YES.

[Duzter]

Mining is said to be the backbone to the entire cryptocurrency operation, right now due to the low profitability and the increased power consumption charge mining operations have decreased significantly. This too can be a reason for the fall of the cryptocurrency market which is predicted to flourish throughout the year.