Best Way for Bargain Hunting in the Bear Market!

[Wilhelm]

Almost every cloud mining services were completely ponzi, there is no need to segregate which is a ponzi and which isn't a ponzi. In this regard we need to be more cautious. Recently I was approached by a person through Instagram trying to scam me with the term mining. To his words we'll soon become a prey, scammers try to find us through different sources. We need to be prepared enough to be on the safer side.

Thanks for reminding me on that!
Could you please talk about more on 'Almost every cloud mining services were completely ponzi', why is that so?

I'm guessing it works as follows.

1. They take your money.
2. They buy Bitcoin straight away and say they are mining.
3. You wait a long time to "generate" coins. This is where they give you the bitcoins they bought cheap with your money.
4. At the end of the month/year (or at a specific threshold) you can claim your coins which are the current price.
5. You get your bitcoin. The get the difference.

If they really want to screw you over extra they will go bankrupt or claim your account was hacked

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[1Referee]

And I also agree with the buy-and-hold technique, I think it can be also used in mining, even in the bear market, where people invest in miners, and holds the coins they got, so they could harvest in the bull market.

That could work if we're dealing with investors having an eye on the very long term, but most miners aren't like that because their bills come back every month. You could try to hold your coins for like a month or six, but there will be a breaking point where you stop holding them and start selling to cover your operation costs.

Bitcoin has been going down for over a year, and if you look at the price development, miners were better off unloading their coins before we broke $6000 than holding them, and while the odds of another severe correction is on the lower side, you can't take it for granted and have to sell to make sure that you can stay operational for at least a couple of more months would a correction take place.

[upsidedown75]

I'm guessing it works as follows.

1. They take your money.
2. They buy Bitcoin straight away and say they are mining.
3. You wait a long time to "generate" coins. This is where they give you the bitcoins they bought cheap with your money.
4. At the end of the month/year (or at a specific threshold) you can claim your coins which are the current price.
5. You get your bitcoin. The get the difference.

If they really want to screw you over extra they will go bankrupt or claim your account was hacked

LOL, I am not saying this is the right way or what they are doing is right or legal but at least this sort of investment is still better than pure scam provided they don’t go the other way of bankruptcy. If most ICO scam had even done it this way by using people’s money to invest and given them the investment back with capital, the distrust we are getting from investors now would not have been there. That is why even in dealing with mining companies, we still need to make our research thoroughly because it’s really getting difficult for miners in this bear market as some of them has even stopped mining.