Best Way for Bargain Hunting in the Bear Market!

[nikkoxiaoxiao]

There is a saying that anyone can make money in a bull market, but bear markets are where future profits are carved. This could apply to the current market situation especially when the market trend turns to be better.

The price of BTC soared from the bottom on December of 2018 at $3,203 to around $4,000 recently, which has increased by nearly 25% in only three months. When miners are worry about their losses on the devaluation of BTC, the market moved and getting better in a rapid speed.

Under the current duration where the bear turns to bull. It is the best time for bargain hunting for miners. There are several ways for bargain hunting and the chief three are shown as below:

1. Buy Bitcoins and wait the price to increase.

2. Buy the hashrate of BTC miners and find the miner hosting services.

3. Get a BTC miner directly and mining bitcoins by themselves.

There are pros and cons of these ways. From my opinion, for example, for risk-averse people, purchasing a BTC miner is a better way because the only cost is the investment capital on the miner and electricity fees of the data center. Compared with buying Bitcoins from the Exchange place, getting a BTC miner could be more safe and stable. The only disadvantage of the third way is probably its inconvenience of subsequent procedures such as hosting and operating. Though, it could be easily figured out by experienced platform and specialized companies.

I am a beginer of Bitcoin and Blockchain industry and still in the process of learning, feel feel to contact me and you guys are also very welcomed to email me. We could discuss and learn together  

nikkoxiaoxiaoli@gmail.com

[Kakmakr]

Ok, first of all, most Cloud mining services that "sell" hash power is based on Ponzi schemes, so I would not advise people to invest money in that. Secondly, you already said that you are a newbie, so why would people contact you for guidance? I would suggest that you study the subject a bit more, before you offer people the option to contact you for advice and guidance.

You do not want people to blame you, if you gave them the wrong advice, right? There are enough experts out there that are willing to give advice for free on public forums like this, so concentrate your efforts on targeting these people. 

[pinoyden]

< snip  >

his first suggestion is not related to mining or cloud mining , so i would accept it and i totally agree with it  . buy low sell high is the most basic and most popular strategy to do when bear market strikes  .  however i also agree on you that most cloud mining sites are just plain scams  but maybe there are few exeptions  . i know some old cloud mining sites that are still up and running until now  .

buying a miner and do mining all by yourself  , can also be a good alternative option to avoid the risk on cloud mining investments .

[nikkoxiaoxiao]

Ok, first of all, most Cloud mining services that "sell" hash power is based on Ponzi schemes, so I would not advise people to invest money in that. Secondly, you already said that you are a newbie, so why would people contact you for guidance? I would suggest that you study the subject a bit more, before you offer people the option to contact you for advice and guidance.

You do not want people to blame you, if you gave them the wrong advice, right? There are enough experts out there that are willing to give advice for free on public forums like this, so concentrate your efforts on targeting these people. 

Thanks for your reply, but I did not mean I advice people to ‘buy’ hashrate and enter into the Ponzi scheme, I did mention in my comments that ‘from my opinion’, I think it is better for miners to have their own machine to get BTC coins. In addition, I also did not say any words of  ‘guidance’, what I was saying is come and chat with me or contact me either by replying me or emailing me, I’m not thinking about giving any advice on anyone in case I will show the wrong way.

I am curious about what is your reason on the opinion that ‘Cloud Mining services’ are based on Ponzi schemes, because as I know, companies such as Genesis is the cloud mining services which is not running based on Ponzi, do you mean all of them or some of them are fraud?

BTW, what’ your opinion on these three options above from your experience or do you have better suggestions that could help people during the bear market?

[nikkoxiaoxiao]

< snip  >

his first suggestion is not related to mining or cloud mining , so i would accept it and i totally agree with it  . buy low sell high is the most basic and most popular strategy to do when bear market strikes  .  however i also agree on you that most cloud mining sites are just plain scams  but maybe there are few exeptions  . i know some old cloud mining sites that are still up and running until now  .

buying a miner and do mining all by yourself  , can also be a good alternative option to avoid the risk on cloud mining investments .

Thanks for you reply and understanding on my words!
Do you have any examples on scams of cloud mining and which way do you think is the best one for people to choose during the bear market based on 'buy low and sell high'?

[Pursuer]

I am curious about what is your reason on the opinion that ‘Cloud Mining services’ are based on Ponzi schemes, because as I know, companies such as Genesis is the cloud mining services which is not running based on Ponzi, do you mean all of them or some of them are fraud?

99% of the cloud mining services have been purely Ponzi schemes scamming people. that 1% that hasn't been a pure Ponzi scheme has also been scamming people and were partly Ponzi because they sold more hashrate than they had.
you see cloud mining is not a profitable business so they all have to turn into a Ponzi scheme if they want to survive and earn profit. in the end the users are not the ones making any meaningful profit, it is these companies. so don't waste your time with them.

[darklus123]

I don't know  where did you get this information but I think you were totally wrong. Now I will tell you based on my experience why it is not profitable to mine during the bearish market. Aside from it does not give you profit as you do mine the coin while its price is slowly going down.

Also have you heard the news that the BITMAIN is currently facing a big problem as it lose around $500 Million last year because of the current market.

[tippytoes]

Ok, first of all, most Cloud mining services that "sell" hash power is based on Ponzi schemes, so I would not advise people to invest money in that. Secondly, you already said that you are a newbie, so why would people contact you for guidance? I would suggest that you study the subject a bit more, before you offer people the option to contact you for advice and guidance.

You do not want people to blame you, if you gave them the wrong advice, right? There are enough experts out there that are willing to give advice for free on public forums like this, so concentrate your efforts on targeting these people. 

I totally agree that the cloud mining services are not really good investment at all. Been there and I only wasted my money. No ROI was returned. Also, there are so many threads already if  he's looking for trading tips, and other pieces of advice in terms of crypto investment.

[nikkoxiaoxiao]

I am curious about what is your reason on the opinion that ‘Cloud Mining services’ are based on Ponzi schemes, because as I know, companies such as Genesis is the cloud mining services which is not running based on Ponzi, do you mean all of them or some of them are fraud?

99% of the cloud mining services have been purely Ponzi schemes scamming people. that 1% that hasn't been a pure Ponzi scheme has also been scamming people and were partly Ponzi because they sold more hashrate than they had.
you see cloud mining is not a profitable business so they all have to turn into a Ponzi scheme if they want to survive and earn profit. in the end the users are not the ones making any meaningful profit, it is these companies. so don't waste your time with them.

Thanks for your advice!

[nikkoxiaoxiao]

I don't know  where did you get this information but I think you were totally wrong. Now I will tell you based on my experience why it is not profitable to mine during the bearish market. Aside from it does not give you profit as you do mine the coin while its price is slowly going down.

Also have you heard the news that the BITMAIN is currently facing a big problem as it lose around $500 Million last year because of the current market.

Yes, I am agree with you. The price goes down slowly and the market is choppy you really cannot control it. But wouldn't buying BTC coins be more risky in this case?? For example, you probably got 100% return on coins yesterday but get 200% losses in today, and it is hard to compensate on that. To buy coins again? Too risky. But buying a miner could be different because you paying investment capital on the machine and electricity fees, maybe you will not profitable at the beginning or even last for a while, but when the market turns, it is more stable and possible to get better return than those only invests on coins? Do you think so?
 I've heard that BITMAIN has some problems but not that specific, so do you think is it possible for BITMAIN to profit in future or what kind of strategy you advice on it?

[nikkoxiaoxiao]

Ok, first of all, most Cloud mining services that "sell" hash power is based on Ponzi schemes, so I would not advise people to invest money in that. Secondly, you already said that you are a newbie, so why would people contact you for guidance? I would suggest that you study the subject a bit more, before you offer people the option to contact you for advice and guidance.

You do not want people to blame you, if you gave them the wrong advice, right? There are enough experts out there that are willing to give advice for free on public forums like this, so concentrate your efforts on targeting these people. 

I totally agree that the cloud mining services are not really good investment at all. Been there and I only wasted my money. No ROI was returned. Also, there are so many threads already if  he's looking for trading tips, and other pieces of advice in terms of crypto investment.

I am not providing trading tips and advice, I did not give any suggestions on cloud mining at all and what I am thinking is how to survive during the bear market. One should have some ways to solve this situation not just investing in coins, right? So what's your opinion on how to survive during this hard time? 

[jseverson]

I don't know  where did you get this information but I think you were totally wrong. Now I will tell you based on my experience why it is not profitable to mine during the bearish market. Aside from it does not give you profit as you do mine the coin while its price is slowly going down.

He probably has his eyes on the long term. I mean yeah you're losing money now, but once Bitcoin prices kick off again, that could more than make up for your losses.

That being said, I probably wouldn't recommend it myself, as we have no idea when that could happen. It would be far simpler to just buy coins and sit on it.

[Pursuer]

I am not providing trading tips and advice, I did not give any suggestions on cloud mining at all and what I am thinking is how to survive during the bear market. One should have some ways to solve this situation not just investing in coins, right? So what's your opinion on how to survive during this hard time? 

first you need to realize that "bear market", "price going down",... are not "hard times". it is just a different trend that you normally were used to see. so you need to adapt to the new trend and change your strategy so that you are not stuck in something that is over.

for example the simplest way of making profit during a downfall is to make profit during recoveries. generally whenever price moved in some direction too fast (in this case a big fast drop) there is a reversal. for instance when price drops 20% it recovers 5-10% right afterwards, you can make a good profit during that time.
another way is margin trading which I won't get into because I don't like it myself but you can find information about it online.

[nikkoxiaoxiao]

I don't know  where did you get this information but I think you were totally wrong. Now I will tell you based on my experience why it is not profitable to mine during the bearish market. Aside from it does not give you profit as you do mine the coin while its price is slowly going down.

He probably has his eyes on the long term. I mean yeah you're losing money now, but once Bitcoin prices kick off again, that could more than make up for your losses.

That being said, I probably wouldn't recommend it myself, as we have no idea when that could happen. It would be far simpler to just buy coins and sit on it.

Thanks, I'm totally agree with you!
What I forgot to say is the difference between the short term and the long term and you just remind me! Of course buy the coins and wait the price goes up could be the easiest way because the only thing you need to do is to transfer the money, you do not need to worry about the subsequent issues such as operating machines or something. But how can you control the market or the price? The market will not always goes as we wish to be, so maybe you will get a lot of money in a short time, but how you get profit in the long term, keep buying the coins? or buying coins plus buying machines together? That could be an interesting topic!

[romero121]

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.

[nikkoxiaoxiao]

I am not providing trading tips and advice, I did not give any suggestions on cloud mining at all and what I am thinking is how to survive during the bear market. One should have some ways to solve this situation not just investing in coins, right? So what's your opinion on how to survive during this hard time? 

first you need to realize that "bear market", "price going down",... are not "hard times". it is just a different trend that you normally were used to see. so you need to adapt to the new trend and change your strategy so that you are not stuck in something that is over.

for example the simplest way of making profit during a downfall is to make profit during recoveries. generally whenever price moved in some direction too fast (in this case a big fast drop) there is a reversal. for instance when price drops 20% it recovers 5-10% right afterwards, you can make a good profit during that time.
another way is margin trading which I won't get into because I don't like it myself but you can find information about it online.

So based on your comments, do you mean choose the right time to invest on coins could be the best and simplest choice for the bear market?

[nikkoxiaoxiao]

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?

[Pursuer]

I am not providing trading tips and advice, I did not give any suggestions on cloud mining at all and what I am thinking is how to survive during the bear market. One should have some ways to solve this situation not just investing in coins, right? So what's your opinion on how to survive during this hard time?  

first you need to realize that "bear market", "price going down",... are not "hard times". it is just a different trend that you normally were used to see. so you need to adapt to the new trend and change your strategy so that you are not stuck in something that is over.

for example the simplest way of making profit during a downfall is to make profit during recoveries. generally whenever price moved in some direction too fast (in this case a big fast drop) there is a reversal. for instance when price drops 20% it recovers 5-10% right afterwards, you can make a good profit during that time.
another way is margin trading which I won't get into because I don't like it myself but you can find information about it online.

So based on your comments, do you mean choose the right time to invest on coins could be the best and simplest choice for the bear market?

essentially yes, but also you should make a decision whether you want to be a trader or an investor and I consider these two to be very different from each other.
a trader only takes advantage of short term market movements and makes money from them while an investor only looks for a potential investment where he can put his money and keep it that way for long term so that he can make profit in the long term while ignoring all the short term fluctuations.
the options for a trader are the whole market and every coin that exists in it, but an investor has limited options and I personally consider only one option for investment and that is bitcoin.

[nikkoxiaoxiao]

I am not providing trading tips and advice, I did not give any suggestions on cloud mining at all and what I am thinking is how to survive during the bear market. One should have some ways to solve this situation not just investing in coins, right? So what's your opinion on how to survive during this hard time?  

first you need to realize that "bear market", "price going down",... are not "hard times". it is just a different trend that you normally were used to see. so you need to adapt to the new trend and change your strategy so that you are not stuck in something that is over.

for example the simplest way of making profit during a downfall is to make profit during recoveries. generally whenever price moved in some direction too fast (in this case a big fast drop) there is a reversal. for instance when price drops 20% it recovers 5-10% right afterwards, you can make a good profit during that time.
another way is margin trading which I won't get into because I don't like it myself but you can find information about it online.

So based on your comments, do you mean choose the right time to invest on coins could be the best and simplest choice for the bear market?

essentially yes, but also you should make a decision whether you want to be a trader or an investor and I consider these two to be very different from each other.
a trader only takes advantage of short term market movements and makes money from them while an investor only looks for a potential investment where he can put his money and keep it that way for long term so that he can make profit in the long term while ignoring all the short term fluctuations.
the options for a trader are the whole market and every coin that exists in it, but an investor has limited options and I personally consider only one option for investment and that is bitcoin.

Thanks, I'v learn a lot on your comments!

Actually from your perspective, it is the choice between a trader or an investor, and I think if you could own a machine during a downfall instead of buying bitcoins, then would you possibly get several-fold profits more than buying them when the trend goes up? From the investors' perspective, they will always look at things in the long-term, especially investment in the high-risky industry (eg., BTC), which is similar to the stock market,
then don't you think it is more sustainable and safe to win in the long-term?

[Wildwest]

Indeed, profits occur before a bullish market, someone will not get a profit without going through a bearish period, so take advantage of the bearish market as well as possible instead of complaining because bitcoin is not going up,