"Bitcoin mining is a Big no!" - page 18.

Kiweikoo

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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.

Anyone who is not even ready to go through bitcoin mining the proper way should even forget mining. Cloud mining have always ended up to be messed up in the long run and based on what OP have said, I really wonder how a financial adviser would come up with something like that in the first place. Such a person should be fired instantly.

If the Op cannot go ahead with the huge expense of mining bitcoin, he can just pick an altcoin or just invest in purchasing bitcoin and holding.

StarofBTC

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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.

There is nothing difficult about bitcoin mining if you have the bucks to invest and if you have the knowledge, Difficulty level may have increased, but it is normal to see that happening during huge rally. However, for anyone who cannot invest in mining the normal way, cloud mining should never be an alternative. Better still, like you have mentioned, trading if properly learned should even be a better thing to do.

shesheboy

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Quote from: ssuchy on February 22, 2018, 03:47:24 PM

Quote from: onebtcforlife on February 21, 2018, 12:31:54 AM

Quote from: hercules006 on January 21, 2018, 11:56:33 PM

Have you guys heard about, omnia tech? They offer cloud mining, lifetime. But im not a member of it. I just heard it to them

Whatever the company background may be Cloud mining is not suggestible for investment and almost most of the people got awareness about the cloud mining will become scam at last. So we have to be very careful while investing in these cloud mining Websites.

if there is such a risk, then why should we consider these opportunities as potential investment targets? Is there really no other way, better and more profitable.

considered? no they were not considered rather they were confirmed by the people who does actually uses it before and that is why many people are saying cloud mining are risky. although bitcoin mining using a hardware is not risky at all because you are the ones who control and operate it but the profit you will be getiing will be less and lesser as the time goes by because the difficulty in mining a bitcoin have been gotten high , as soon as many and many people are mining on it.

ssuchy

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Quote from: onebtcforlife on February 21, 2018, 12:31:54 AM

Quote from: hercules006 on January 21, 2018, 11:56:33 PM

Have you guys heard about, omnia tech? They offer cloud mining, lifetime. But im not a member of it. I just heard it to them

Whatever the company background may be Cloud mining is not suggestible for investment and almost most of the people got awareness about the cloud mining will become scam at last. So we have to be very careful while investing in these cloud mining Websites.

if there is such a risk, then why should we consider these opportunities as potential investment targets? Is there really no other way, better and more profitable.

imstillthebest

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Quote from: flyingplows on February 21, 2018, 01:55:22 PM

The thread started by "best way to aquire bitcoin is through cloud mining" which is completely wrong in any context. Cloudmining is either a scam or not profitable in general. Real mining (not lending your money to "cloudminers") is sometimes profitable only if you really know what you're doing and have suitable place to hold miners, cheap electricity, decent way to ship miners for cheap and on time, etc.
The best and the only real way to start with Bitcoins is to buy them. Once your every second breath is about crypto you can start thinking about investing some BTC or cash into mining instead of buying and still only when there is a coincidence in circumstances and you are skilled enough to calculate that mining could be more profitable than just buying for a certain period of time.

mining is profitable as long as you mine coins that is not hard to mine, like for example xmr or monero because this coin is the most easiest to mine among others or when conpared to mining a bitcoin and etherium. mining is also profitable than buying or investing because the cost of buying a mining hardware is only one time but the cost of buying a coin or investing on them is lifetime , you are tempted to buy as long as you have a money or have an urge to buy and add them on to your holdings.

flyingplows

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The thread started by "best way to aquire bitcoin is through cloud mining" which is completely wrong in any context. Cloudmining is either a scam or not profitable in general. Real mining (not lending your money to "cloudminers") is sometimes profitable only if you really know what you're doing and have suitable place to hold miners, cheap electricity, decent way to ship miners for cheap and on time, etc.
The best and the only real way to start with Bitcoins is to buy them. Once your every second breath is about crypto you can start thinking about investing some BTC or cash into mining instead of buying and still only when there is a coincidence in circumstances and you are skilled enough to calculate that mining could be more profitable than just buying for a certain period of time.

nydiacaskey01

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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?

There's only a few cloud mining companies out there that really have their own mining farm, theres a lot of them out there who claims that they are into mining, they have rigs, but if you ask them some photos of their mining farm, they will tell you for security purposes they cannot provide. I have seen cloud mining companies like Cloudminr.io, Scrypt.cc and Hashocean come and disappear with investors money and yet people still believe that theres money in cloud mining. Folks, there are more ways to earn Bitcoin aside from cloud mining. You may try Hashnest by Bitmain but the ROI is too long that you can earn more if you go into buy and selling. Stay away from it.

techit

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Bitcoin mining is still very profitable
Only problem is high mining cost due to increase in difficulty

Kevin77

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Quote from: wave1002012 on February 20, 2018, 09:42:15 AM

Bitcoin mining is good as long as you have enough money to invest and your ready to risk your money if ever you encounter problem because gadgets to be use in bitcoin mining are very costly.

Asides having money, it is always good to consider electricity too as that has been one of the major challenges most miners always have and once that is out of it, the rest is history. Bitcoin mining is good and can give more over time since you really would not have to be doing much and the miners are doing all the work. A lot is necessary to consider before mining which makes the knowledge come to play. However, I would not even bother myself delving into the cloud mining space as there is nothing there for anyone.

mi56374100

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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.

onebtcforlife

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Quote from: hercules006 on January 21, 2018, 11:56:33 PM

Have you guys heard about, omnia tech? They offer cloud mining, lifetime. But im not a member of it. I just heard it to them

Whatever the company background may be Cloud mining is not suggestible for investment and almost most of the people got awareness about the cloud mining will become scam at last. So we have to be very careful while investing in these cloud mining Websites.

madwica

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Quote from: wave1002012 on February 20, 2018, 09:42:15 AM

Bitcoin mining is good as long as you have enough money to invest and your ready to risk your money if ever you encounter problem because gadgets to be use in bitcoin mining are very costly.

Correct setting up own mining rig is good and it will gives you high income, but cloud mining is not good to invest they only run in few months then it will shut down brings all the money of investors.
But if you have not enough money to set up own mining rig much better to invest in trading than choosing cloud mining.

winterland

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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?

There is not a contradiction, you are just putting your trust in the wrong people, fire your financial advisor he is dumb he is the kind of people that would fall for scams as long as it seem credible enough, you need to use your common sense, mining can be profitable but that is if you buy the equipment yourself, cloud mining is a scam because if they had the equipment they could get better profits by mining themselves.

wave1002012

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Bitcoin mining is good as long as you have enough money to invest and your ready to risk your money if ever you encounter problem because gadgets to be use in bitcoin mining are very costly.

BlackPanda

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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.

GideonGono

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★Bitvest.io★ Play Plinko or Invest!

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.

sugihe

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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?

If the cloud mining about bitcoin i think i will suggest you to do that because its more difficult now and its not like before that you can get much income from bitcoin mining. So better just do trading.

doaremon

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I don't think Bitcoin is good for mining. Rather than mining,it will be good to invest them in different sectors. As Bitcoin is not ligal through out the world so it's value is unstable. Today it has a good price value but tomorrow it may has the Lowest minimum value. So all the time, we cannot predicte the price range of Bitcoin. If you mine them then it will be a point of concern for the future. As a crypto currency, the more you invest,the more the price will be up. In total, rather than mining it will be a agood decision to invest them....

Tungsten-1

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Quote from: Md Saad on January 23, 2018, 08:52:21 PM

I think if you are ready to take a massive risk then you have to be involved in this platform otherwise it doesn't suit you. as your adviser mentioned that it's too risky to get involved but they are doing well in that platform. I think when you invest here then you will get updated all type of information and then you can take a decision following that information.
For me, Bitcoin mining is one of the most profitable platforms for gaining a profit among the blockchain system. Since in recent time is not a favourable time for this platform but the time will change and it will be fine in the future.

There are countries like that of China who have banned the mining of any coin especially bitcoin. The only reason behind all this is that bitcoin mining consumes lot of resources like that of power and electricity. There is no way that we can meet all the needs of the ones who are trying to do mining as there are not enough resources present over here. Moreover, you also need to have some super computers in order to do mining.

Md Saad

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I think if you are ready to take a massive risk then you have to be involved in this platform otherwise it doesn't suit you. as your adviser mentioned that it's too risky to get involved but they are doing well in that platform. I think when you invest here then you will get updated all type of information and then you can take a decision following that information.
For me, Bitcoin mining is one of the most profitable platforms for gaining a profit among the blockchain system. Since in recent time is not a favourable time for this platform but the time will change and it will be fine in the future.

Topic: "Bitcoin mining is a Big no!" - page 18. (Read 4024 times)