Mining in the cloud vs simply buying bitcoin

[Oilacris]

Mining is another form of investment, in terms of buying equipments and consuming energy I think it is far more expensive. I haven't heard any good news about cloud mining, all I can see here in the community and even on various searches, the majority of cloud mining are scam so that's another risk. For now, buying btc or any well stablished crypto is far better especially how bearish the market as of these past few months

Unfortunately, many cloud mining online services turned out to be simple scammers. I know the best and the most honest way to get Bitcoin and make a profit with it - to buy this cryptocurrency and hold it.

This is the most simply thing to be done rather than considering yourself to invest with those cloud mining companies which mostly are scams but people

do really need that passive or simple way that's why they do end up on having this kind of option. Volatility alone will already give out an edge because if you
do plan to put you money on a cloud mining site the profitability of yours are not guaranteed and in worst you wont able to reach up ROI compared
when you are just holding your btc that kind of risk wont exist on the extent that you would able to lose it up.

[OrangeSeller]

They are both the same, there are times they are profitable and there are also times that they are not profitable at all. You just have to know when to continue with a particular one and when not to go with it. You can buy Bitcoin today and within a few days the price will drop down seriously. So you never know which one is right and the same thing also applies to cloud mining just like you have explained it, there are times when it is not profitable and there are also times that it can be profitable.

[fankhan466]

I tried cloud mining on past but i not get ROI, and i lose seomthing like 0.03 bitcoin from what i invest, is better buying if mining at home is not possible because of space, cost of equipment, cost of electricity and other factors.

Can you help me in mining setup at home ? i have free electricity ... i want to start from small setup then more....
thx

[coin-investor]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

[entebah]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

Yes, it is terrible if we invest in Cloud Mining, because most sites lead to fraud, so I only buy Bitcoin from the exchange market, and do normal trading.

[Ayiranorea]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

Yes, it is terrible if we invest in Cloud Mining, because most sites lead to fraud, so I only buy Bitcoin from the exchange market, and do normal trading.

Yes, getting into normal trading is perfectly the best way to earn compared to mining where we don't have to do any big work other than just investing on mining equipments and run it. Mining has got a very big community, but cloud mining in most cases is a scam, because what they assure as return on the investment is very big and impossible to get out of mining. One can get a bigger profit on just buying and holding than investing on cloud or other hardware based mining.

[OrangeII]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

Yes, it is terrible if we invest in Cloud Mining, because most sites lead to fraud, so I only buy Bitcoin from the exchange market, and do normal trading.

for now I'm also avoiding that. after all, I also tried cloud mining and it didn't work well. so, when I need bitcoin, of course I better buy it directly in a market, or collect it patiently. I think it's better for now.

[Adriano2010]

Indeed is better to avoid cloud mining, i try it and i not made a ROI i invest over 0.1 bitcoin and i get back 0.078 bitcoin, if possible better buy bitcoin and hold for long.

[mangsitin]

Cloud mining does provide fast profits, but it is very high risk when you invest there, they pay for the first time, but for the next is fraud, I have tried it, so I think buying Bitcoin is a good thing.

[shield132]

Question is,is there such thing as cloud mining, I know a few reliable ones like Hashnest but the profits there is too small and the maintenance fee will eat up your profits. That is why I stick to trading because there your coins have more opportunity to grow with careful selection of what coin to buy and careful planning.

As far as I know, hashnest has already changed, btw that doesn't matter. Even cloud mining is worst thing because you never ROI while if you buy bitcoins, there is high chance that price will rise and you'll profit while in cloud mining you even lose what you invested.
So I think comparing of these two isn't correct, especially now when even real mining is dead.

[bettercrypto]

It is good to buy bitcoins than become a miner specially, if you do not have knowledge on how to mine BTC. There are many miners all over the world and mining becomes already a competition since 2014. Due to the large numbers of miner, there is no more good profits. Therefore, I never plan to build mining rigs or buy just to mine.

[KlepZ]

I guess if you’re looking at mining as a long term investment than perhaps it can generate you more coins in the long run but it’s also much more risky. First of all miners can break down, and even if you host them somewhere accidents do happens. Also there’s no way to know how high or low will the Bitcoin mining difficulty reach so numbers can change drastically. If you want an immediate winner than I’d definitely go with buying Bitcoins instead of mining them.

[Rufsilf]

I think buying bitcoin directly is better than cloud mining because right now it is very hard to mine bitcoins and you need to buy a good software for you to be able to mind effectively and if you also do cloud mining through cloud mining websites it is very risky because a lot has been reported as fraudulent. Also if you own a mining rig maintenance can be very expensive and the value of your mined bitcoins may not be enough to cover the maintenance alone.

[TheCoinGrabber]

I tried cloud mining on past but i not get ROI, and i lose seomthing like 0.03 bitcoin from what i invest, is better buying if mining at home is not possible because of space, cost of equipment, cost of electricity and other factors.

Kept hearing about cloud mining before but never bothered trying it out, mostly due to lack of capital. And I'm glad I didn't. It's far easier and affordable to just buy bitcoin and hold.

Not sure about mining alts though, I heard those are more profitable.

[SirLancelot]

Well, if it has advantage, it will as well be having an disadvantages right? So that means that none of them is better than the other. And if what you're talking about is bitcoin mining and cloud mining, I don't think I will be choosing bitcoin mining, cause you already know the difficulties in mining bitcoin. Bitcoin is not like altcoins mining, altcoins are far easier than mining bitcoin. The only thing is that bitcoin is worth more than them, but the question should be whether the profit you're making is more than the expenses you're making for the mining. If the expenses is more than the profit, then it's a waste of time. Cloud mining, you don't really have to stress yourself in any way except in getting the finance you need in order to invest. Anyone you decide to choose, do so wisely.

[darklus123]

I am still on the idea of a cloud mining being one of the most Sh*tty way to earn bitcoins. I still don't get it why would such companies offers that certain services when they actually do it for their own(that only makes them really ponzis). Therefore it is obvious that buying bitcoin is much safer as you can have a full control over your fundings.

Well, if it has advantage, it will as well be having an disadvantages right? So that means that none of them is better than the other. And if what you're talking about is bitcoin mining and cloud mining, I don't think I will be choosing bitcoin mining, cause you already know the difficulties in mining bitcoin. Bitcoin is not like altcoins mining, altcoins are far easier than mining bitcoin. The only thing is that bitcoin is worth more than them, but the question should be whether the profit you're making is more than the expenses you're making for the mining. If the expenses is more than the profit, then it's a waste of time. Cloud mining, you don't really have to stress yourself in any way except in getting the finance you need in order to invest. Anyone you decide to choose, do so wisely.

Of course buying a coin is still better than Cloud Mining which is a ponzi scheme and mining bitcoin which differs on the place that you lived in. Mining your own coins can be better if you are gaining a profit all deductions included.

But still buying a coin and trading it is the best option if you can't have the option of mining your own coin. Tho, one thing is clear here (cloud mining is obviously the worst choice out of 3)

[TheCoinGrabber]

Kept hearing about cloud mining before but never bothered trying it out, mostly due to lack of capital. And I'm glad I didn't. It's far easier and affordable to just buy bitcoin and hold.

Not sure about mining alts though, I heard those are more profitable.

like me who just entered the crypto world, with capital spent to mine it still seemed expensive. indeed buying BTC and holding it in the long run is an option, because it can be adjusted to the ability of personal funds

I just thought it's a bit risky. What if the equipment fails? What if you got scammed? So many things to consider when looking into these mining options.

Buying from an exchange seem to be just easier on the nerves. Sure you'd take a hit with the spread but that's expected. KYC isn't also much of a concern since you're gonna give it up anyway when you cash out mined coins.

[Schirer]

I believe that cloud mining in its core cant be profitable for those who buy the service.
Just think of it in this way: Why people who own the hash power would want to give it to other people when they just can mine themselves?
They can make more money on cloud mining from those who buy for them instead of mining themselves.

[Apes]

from the first page to this, everyone says cloud mining completely scam, unprofitable and a ponzi scheme. and I agree with all of them. there no proof that cloud mining really exists and maintains the GPU mining rig. they only lure with big earnings on their home page. better stay away if want to invest just buy it in exchange.

[coin-investor]

from the first page to this, everyone says cloud mining completely scam, unprofitable and a ponzi scheme. and I agree with all of them. there no proof that cloud mining really exists and maintains the GPU mining rig. they only lure with big earnings on their home page. better stay away if want to invest just buy it in exchange.

Even if they really have those mining rigs there's no guarantee that they will not run away, I've invested in one cloud mining that shows investors that they really do have these mining rigs in their Youtube channel, but they still run away and use the money they scam to pay for electricity, cloud mining is a thing of the past, better do trading.