"Bitcoin mining is a Big no!" - page 17.

winterland

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Quote from: mi56374100 on February 21, 2018, 02:34:02 AM

These financial advisers may be a bunch of scammers, and no one will suggest you invest in cloud mining sites, and most bitcoin mining is a scam.

If you're going to invest money in mining, just buy bitcoin, and let it grow in your wallet and I think that's a good way to do it.

I prefer to think of it as incompetence rather than financial advisers being scammers, but as you may guess that could be the case too, the reason I think this is the case is that like in anything there are people that are great at their jobs and there are people that suck and most financial advisers will give you advice you will find in a 10 dollar book or that is just common sense for people like us but some will try to give a few ideas to seem like they have knowledge they do not have and recommend scams as a result.

Thanasis

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Quote from: Cryptagio on February 24, 2018, 06:05:12 PM

Mining is not the best thing to do right now unless you are willing to build your own farm worth millions of USD

Mining is always worth to do but now the rewards in the bitcoin mining decreased due to the difficulty level increase but still we can do mining if we have powerful ASIC miners it is worth and indeed for future too if there is no miner our transaction can not be confirmed.So miners are always important and worth but investment capital needed for that is high.

eann014

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Bitcoin mining if just good to those who have free electricity but if you don't have free electricity, bitcoin mining is also not a profitable way to earn bitcoin for me trading is better than mining.

Royal Jelly

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ECOSTART

I think if people are going to start mining now it's too late and a waste of time. If you have money and want to do mining then you need the highest pc rig

n0ne

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Quote from: mrcash02 on March 02, 2018, 12:24:33 PM

The contradiction has just one reason: Referral system. These "financial advisors" are probably trying to make some extra satoshis by referring Crypto newbies to invest in cloud minings. I have seen similar situations happening with some acquainted, people considerably well instructed being lured to invest in cloud mining believing that is the "hot" way to make profit with BTC.

One of the issues with Bitcoin nowadays is that people are being told about it by the wrong people...

Ponzi schemes quite often promote their services through referrals. Here newbies easily get into traps expecting big money without understanding the truth behind cloud mining websites. The user need to analyze and spending on real mining gives at least small income than getting scammed in cloud mining websites.

mrcash02

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The contradiction has just one reason: Referral system. These "financial advisors" are probably trying to make some extra satoshis by referring Crypto newbies to invest in cloud minings. I have seen similar situations happening with some acquainted, people considerably well instructed being lured to invest in cloud mining believing that is the "hot" way to make profit with BTC.

One of the issues with Bitcoin nowadays is that people are being told about it by the wrong people...

isyot12345

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Bitcoin mining is great platform to earn some standard income. But we need some equipment to do that. If we have equipment maybe we earn some good and high profit.

jeepuerit

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Yes, bitcoin mining is not really big, because it is small and most are not sure whether it is legit or not, many mining sites are just wasted time because they do not transact or transfer.

yanlap

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Quote from: jayhawk1 on February 27, 2018, 05:18:54 AM

Quote from: Jico79 on February 24, 2018, 04:39:06 AM

Cloud is the place to store user information. Bitcoin does not use the user's personal information so there is no reason to exploit it in the cloud, which is unreasonable.

Bitcoin mining is a good thing to do actually but for a person who is having this much of resources that he can arrange some super computers having a fast processing speed and that he needs to set up mining fields. Other than mining fields, a lot of money will also be spent in order to meet the power and electricity problems and other expenditures. Mining is actually not that much feasible thing as compared to that of holding and trading.

Yes bitcoin mining is the expensive way of earning it will give you profit but will take lot of money to spend as well. At first bitcoin mining need some equipment and that equipment are very expensive, after those equipotent your bitcoin mining will consume a lot of electricity and someday it will become unaffordable for you, but some people have made high profits even in this situation and a small patience made them millionaires forever. So bitcoin mining can be good and bad at the same time, but if you can have the stamina to go through these conditions you can earn high profit.

jayhawk1

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Quote from: Jico79 on February 24, 2018, 04:39:06 AM

Cloud is the place to store user information. Bitcoin does not use the user's personal information so there is no reason to exploit it in the cloud, which is unreasonable.

Bitcoin mining is a good thing to do actually but for a person who is having this much of resources that he can arrange some super computers having a fast processing speed and that he needs to set up mining fields. Other than mining fields, a lot of money will also be spent in order to meet the power and electricity problems and other expenditures. Mining is actually not that much feasible thing as compared to that of holding and trading.

Cryptagio

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Mining is not the best thing to do right now unless you are willing to build your own farm worth millions of USD

Sony.UK

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The more the door opened for earning, it's really welcomed. Mining is one of the best source in crypto currencies to earn money. We have could mining and other domain mining. Experts do say that cloud mining is good. But I do not wish to move towards cloud mining as my friends had a bad experience. Hence I have invested a little amount and bought mining tools and started mining. Receiving standard income.

Gotumoot

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Quote from: hercules006 on December 25, 2017, 10:00:56 AM

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?

Mining is one of the effective way to earning bitcoin , it's the computer duty and however some are scam so be aware on that. But in spite of some are scam there is a legit one , and remember that it's how fast your computer is , the fast your computer , that fast of mining it would be.

Bertoman

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bitcoin can be used as a mining and Cloud is the place to store user information and the last me sentence no they were not considered rather they were confirmed by the people.

maarx

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Mining is a good platform to earn a standard income in crypto . So take up. I have a mining rig at home with 6 graphics cards running on Nicehash. Receiving a standard income every month.

I do not advice for Cloud mining as I do not have an experience on it and have not yet heard a positive feedback on cloud mining.

Jico79

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Cloud is the place to store user information. Bitcoin does not use the user's personal information so there is no reason to exploit it in the cloud, which is unreasonable.

v0rtecxz

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it looks like a pretty bad impression of cloud mining, a lot of people have been deceived, they just look from the side of profit without considering the risks that exist there, I do not recommend cloud mining for a beginner because it will be very risky, you can lose all your capital in but that does not mean all the cloud mining is a fraud, if you want to profit from cloud mining, pretty good, but you have to be prepared with risks that will overwhelm you

Clark05

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If you saying cloudmining for me it's not good because they have cloudming after few months they will not pay investor and if you invest to cloudming it's 1 year I think before you can get your capital or before double your money. You can start your own minibg but remember it's not easy you big capital and a loy of knowledge. You can strt trade also if you want need only capital and patience for that before you sarn money.

jakezyrus

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Quote from: gamalzour on February 24, 2018, 01:19:50 AM

Quote from: BlackPanda on February 20, 2018, 08:34:23 AM

Quote from: GideonGono on February 20, 2018, 05:21:19 AM

Quote from: hercules006 on December 25, 2017, 10:00:56 AM

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 may say or suggest go through bitcoin mining though we all know that it's expensive or non profitable on some , but yet it's worth it , despite the risk promise it's worth it , but I suggest to that , mining bitcoin isn't easy , bitcoin mining can cost a lot of energy and will result to a bigger expenses , and it's build to a better climate a climate that it's cold.

Cloud mining is a very bad thing and for me it just wastes the time we have. Cloud mining can never be profitable, some reviews say that profitable cloud mining is a fake thing. There are many people who experience it and I think people who keep trying to do cloud mining is a person who is not careful and do not have the spirit in his life. They just wish on a luck and it will be a regret throughout their lives.

Cloud mining has always been a waste of time and even the legit ones will still end up not giving you what you really want at the end of it all which makes the whole idea suck. I think most people have even gotten to realize that already and have given up on cloud mining. It is either mining or no mining and as we all know, it requires a lot to mine bitcoin now, with respect to funds, electricity, space and some good knowledge. If all those cannot be in place, just buy and hold.

cloud mining is actually worth it and not all of them are scams, i knew it because ive been experience cloud mining in the past but they arent free , those cloud mining sites that offers free account are more likely to be fake or scams, you cannot withdraw your balance if you dont pay them like the ones in bitminer/prominer. but overall i still prefer cloud mining vs mining using a hardware because buying an actual hardware is too pricey and the maintenance isnt also easy.

gamalzour

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Quote from: BlackPanda on February 20, 2018, 08:34:23 AM

Quote from: GideonGono on February 20, 2018, 05:21:19 AM

Quote from: hercules006 on December 25, 2017, 10:00:56 AM

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 may say or suggest go through bitcoin mining though we all know that it's expensive or non profitable on some , but yet it's worth it , despite the risk promise it's worth it , but I suggest to that , mining bitcoin isn't easy , bitcoin mining can cost a lot of energy and will result to a bigger expenses , and it's build to a better climate a climate that it's cold.

Cloud mining is a very bad thing and for me it just wastes the time we have. Cloud mining can never be profitable, some reviews say that profitable cloud mining is a fake thing. There are many people who experience it and I think people who keep trying to do cloud mining is a person who is not careful and do not have the spirit in his life. They just wish on a luck and it will be a regret throughout their lives.

Cloud mining has always been a waste of time and even the legit ones will still end up not giving you what you really want at the end of it all which makes the whole idea suck. I think most people have even gotten to realize that already and have given up on cloud mining. It is either mining or no mining and as we all know, it requires a lot to mine bitcoin now, with respect to funds, electricity, space and some good knowledge. If all those cannot be in place, just buy and hold.

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