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Topic: "Bitcoin mining is a Big no!" - page 2. (Read 4024 times)

sr. member
Activity: 1491
Merit: 320
🐪
October 19, 2018, 01:16:12 PM
Last time I was checking vast majority of hash power was in control of few mining pools located in China.

I wonder if that is still the case ...
hero member
Activity: 1092
Merit: 501
October 19, 2018, 01:00:56 PM
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?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.
Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.
I don’t believe in cloud mining because you don’t know the miner and give your money to an anonymous person. It is much better to set at home and done work. Atleast you will not lose your money if you are not earning. Cloud mining means to give the keys of your wallet to a person whom you don’t know. Anyway I think that mining should be continued but not cloud mining.
Agree with you, we all should do this because safety is all about mot to share your private key with anyone, if you will share it with unknown people so they will hack your bitcoin wallet, I think it is good to mine normally instead of cloud mining, for this you will only have to buy the equipment and to pay the bills, now it is good time for being a miner as much as you will pay your money to mine, it will give you huge amount of profit so don’t say no to the entire mining.
hero member
Activity: 1092
Merit: 523
October 19, 2018, 06:03:48 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 never checked out cloud mining and the real mining and I don’t know which one of them works better. But I know a friend that was doing cloud mining and I believe he was making lots of profit from it, according to what he has said.

But after I went online, I started seeing people claiming that cloud mining is nothing and that profits never come from it. From what I’ve been seeing online, seems like both type of mining are not profitable unless you’re able to set up a huge mining farm.
member
Activity: 742
Merit: 42
October 18, 2018, 05:41:23 PM
It's up to you mate, I believed cloud mining is profitable if you invested it in the right company. Try to figure out every mining platform you're investing because there are companies that can't give you profit and some of them are scam. It's a matter who and how you're going to choose but if I were you, invest your own mining tools, if you have a capital for solar panel and mining rig din do it.
member
Activity: 134
Merit: 10
October 18, 2018, 01:01:55 PM
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 think. cloud mining is very dangerous and the risk is quite high, I have tried it and proven at the beginning of the pay and the next payment they have not paid again. I suggest that you make a trade and learn to invest
member
Activity: 700
Merit: 12
October 18, 2018, 09:52:55 AM
Now bitcoin mining is not profitable because the difficulty of maturing the coins are taking too long. So now we are in an unpredictable situation so if we are not making profits better stay away from bitcoin mining otherwise expenses of power consumption will be more.
jr. member
Activity: 92
Merit: 1
October 18, 2018, 07:32:42 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?
the decision is in your hands, if you want to get a lot of bitcoin you can do it by mining, but in this way you need huge capital for the mining needs.
according to my advice, you should just do trading to get a lot of bitcoin, with your diligence and ugliness you might be able to generate bitcoin with a lot.
Agree with the discussion, it is all about us, if we will have enough money to manage the expenses I am sure we will get huge amount of profit, mining actually gives better profit but it takes time and needs money to use, now a day we are able to see mining is making bigger scope in market because mining has become a solar system holder and we can use solar system to generate better profit from mining.
Bitcoin mining is no more profitable in this price therefore most of the miners think to start some other job or work. They think that if the price of bitcoin falls a bit more then there would be no bitcoin mining and the supply will be reduced more. This is not good for overall bitcoin because the investors will be low and so the use. Minimum price of bitcoin should be atleast $6000.
jr. member
Activity: 86
Merit: 2
October 17, 2018, 07:26:03 AM
Bitcoin mining is not the option for me to make passive income because I doubt if one will make enough passive income to cover for his investment. I am yet to see anyone who completed his cloud mining without any issues along the line. Majority of the cloud mining firms are scams. Just buy your bitcoin and hold.
Bitcoin miners know that the price is not increasing for long time and the profit mark=gin is very low because of low bitcoin price in the market, that’s why they are dishearten and now they are also thinking to start some regular business. In these days mining is just a waste of time and money. It is better to change your profession for good future.
I also think the same if miners do not make any profit why they would mine bitcoin? Everyone is here for making money, traders, investors and miners and if traders and longtime holders make money and miners are just wasting their time, they would definitely quit mining and start some other business or trade in Altcoin or even mine Altcoin. It will be better than bitcoin mining.
jr. member
Activity: 76
Merit: 1
October 17, 2018, 06:08:26 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?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.
Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.
I don’t believe in cloud mining because you don’t know the miner and give your money to an anonymous person. It is much better to set at home and done work. Atleast you will not lose your money if you are not earning. Cloud mining means to give the keys of your wallet to a person whom you don’t know. Anyway I think that mining should be continued but not cloud mining.
jr. member
Activity: 91
Merit: 1
October 17, 2018, 04:23:02 AM
you can ask for some advice and recommendation.
Most of the miners are in Asia, because the cost of mining is low in Asian countries. In west the labor cost is high and miners cannot save handsome money. That’s why they are quitting mining or mining very small quantity. Mining is no more profitable and when there is no profit why one should waste time and money in such activity or business.
I am not in favor of cloud mining. If you can do mining by yourself its ok, if not then invest your money somewhere else, but don’t even think of cloud mining. Anyway miner think that the profit margin has reduced due to fall in the price and there is no positive attitude in the market, the price is not increasing for the last several months, therefore they are not happy in mining.
member
Activity: 122
Merit: 16
Reward: 10M Shen (Approx. 5000 BNB) Bounty
October 16, 2018, 06:25:11 PM
why can't it be big ...? , because bitcoin has not been officially used as a currency, and many do not know bitcoin, therefore bitcoin cannot be perfect yet. If bitcoin can often make campaigns, it is likely that bitcoin can be a big mining
hero member
Activity: 1218
Merit: 557
October 16, 2018, 01:18:43 AM
Bitcoin mining before is much profitable but when the value rising it became too hard to get profit in mining but still there are company that continuous using this method to generate income and i do not know if there are still individual who are continuous mining even this time which very hard to mine bitcoin.

With the fallen prices in btc, mining is not recommended and I do not intend to do it. It is better to upgrade your skills in trading, identify investment opportunities with ICO coins can yield you much profits in the short and long term rather than mining the coins now.
full member
Activity: 448
Merit: 103
October 16, 2018, 12:24:17 AM
Bitcoin mining before is much profitable but when the value rising it became too hard to get profit in mining but still there are company that continuous using this method to generate income and i do not know if there are still individual who are continuous mining even this time which very hard to mine bitcoin.
newbie
Activity: 72
Merit: 0
October 15, 2018, 06:34:24 AM
Bitcoin mining is not the option for me to make passive income because I doubt if one will make enough passive income to cover for his investment. I am yet to see anyone who completed his cloud mining without any issues along the line. Majority of the cloud mining firms are scams. Just buy your bitcoin and hold.
Bitcoin miners know that the price is not increasing for long time and the profit mark=gin is very low because of low bitcoin price in the market, that’s why they are dishearten and now they are also thinking to start some regular business. In these days mining is just a waste of time and money. It is better to change your profession for good future.
sr. member
Activity: 630
Merit: 251
October 14, 2018, 02:17:29 PM
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?
the decision is in your hands, if you want to get a lot of bitcoin you can do it by mining, but in this way you need huge capital for the mining needs.
according to my advice, you should just do trading to get a lot of bitcoin, with your diligence and ugliness you might be able to generate bitcoin with a lot.
Agree with the discussion, it is all about us, if we will have enough money to manage the expenses I am sure we will get huge amount of profit, mining actually gives better profit but it takes time and needs money to use, now a day we are able to see mining is making bigger scope in market because mining has become a solar system holder and we can use solar system to generate better profit from mining.
legendary
Activity: 1568
Merit: 1002
October 14, 2018, 10:19:01 AM
Bitcoin mining without any devices only android won't work but if you have gpu's and miners installed on a computer you can mine bitcoins.
Mining won't work with mobile phones only. Mining is preferred only for computers which can stay open whole day unlike phones that will be heaten after a long time of usage.
You will not have maximum results or profits in mining if you only do it with ordinary gpu and moreover just from a mobile phones, if that is done you will only waste your time as long as you wait for the results or profits from the mining. There are many things that must be considered to be able to start mining with profits that at least will not make you lose even though it is a small profit. This does not happen only for bitcoin mining, because all types of mining to mine crypto must have very high knowledge and money to start.
full member
Activity: 434
Merit: 126
October 14, 2018, 06:57:40 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?
the decision is in your hands, if you want to get a lot of bitcoin you can do it by mining, but in this way you need huge capital for the mining needs.
according to my advice, you should just do trading to get a lot of bitcoin, with your diligence and ugliness you might be able to generate bitcoin with a lot.
member
Activity: 280
Merit: 10
Fast, Smart, Trustworthy
October 14, 2018, 05:17:50 AM
Cloud mining has not always been the best mining method because it has certain security risks and it is very easy to be exploited by fraudsters!
newbie
Activity: 76
Merit: 0
October 14, 2018, 02:46:01 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?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.
Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.
I do not prefer cloud mining because it is right that you will only invest your money with cloud miners and they will do the rest, but the problem is this that you will give the keys of your treasure in anonymous hands and if they disappear you could do nothing. Otherwise cloud mining is good for those who cannot afford the mining expenses and those who do not have the facility.
newbie
Activity: 92
Merit: 0
October 11, 2018, 07:02:59 AM
you can ask for some advice and recommendation.
Most of the miners are in Asia, because the cost of mining is low in Asian countries. In west the labor cost is high and miners cannot save handsome money. That’s why they are quitting mining or mining very small quantity. Mining is no more profitable and when there is no profit why one should waste time and money in such activity or business.
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