Bitcoin mining is a big no for me too. I don't think there is any reputable cryptocurrencies mining firm nowadays. Once you deposit your investment, making profit will forever remain an issue. I will rather buy my bitcoin and HODL it till I am ready to sell it at a profitable price.
It is because mining is not easy; requirements for mining needs huge money and the earnings are too little. If the price of bitcoin fall more, miners will stop mining because there will be no profit in mining due to low bitcoin price. Why they would spend thousands of dollars and waste their time for nothing. That’s why many people now say big no to mining bitcoin.
Topic: "Bitcoin mining is a Big no!" - page 4. (Read 4024 times)
Bitcoin mining is not good for everyone due to the expenses that follows; the power consumes and the rest of them. So it’s only those that are living a country where there is low cost for power supply that can do Bitcoin mining. But I heard that Cloud mining is very good and derive a decent income for those who invest in it.
I have registered on Genesis Cloud Mining, but I’d like to do some more research first before I decide to invest my money, I can’t just make decision just because of what one person told me, I prefer to get people’s opinion on whatever I’m doing, especially things like this to know when I’m doing the right and wrong.
I have registered on Genesis Cloud Mining, but I’d like to do some more research first before I decide to invest my money, I can’t just make decision just because of what one person told me, I prefer to get people’s opinion on whatever I’m doing, especially things like this to know when I’m doing the right and wrong.
Right now Bitcoin mining is very difficult to mature coins with the difficulty we are facing. Even for mining, the electricity expenses are kept increasing and this makes me spend more than 3 months without bitcoin. Now there are a lot issues which power fluctuation will also cause delay to mine the bitcoins.
investing in cloud mining is not really valuable because most of them are just scams, but I prefer trading than mining bitcoin because I think it is more profitable to trade than bitcoin mining
This is the right way. You should buy some bitcoin today and hold them for some time and when you realize that know selling is profitable then you can sell your coins. But mining is also mandatory because if there is no mining there would be no supply and if no one wants to sell hid coins where will you find coins? But it is also a fact that mining in these days are not profitable.
The Bitcoin is definitely mined but the resources to do the mining is enormous these days cause of all the ASICs and all the mining power needed to do so... Mining is needed to keep the network going but for sure trading is easier - but you still need new Bitcoins.
I think that bitcoin is not very well mined, if it is possible to mince something else and it will and will make sense much more
in my opinion the best way to get bitcoin is to buy it in the market, mining cloud in my opinion is mostly just fraud, I think trading is one way to get more bitcoin but must be able to predict and analyze to maximize profits
investing in cloud mining is not really valuable because most of them are just scams, but I prefer trading than mining bitcoin because I think it is more profitable to trade than bitcoin mining
This is the right way. You should buy some bitcoin today and hold them for some time and when you realize that know selling is profitable then you can sell your coins. But mining is also mandatory because if there is no mining there would be no supply and if no one wants to sell hid coins where will you find coins? But it is also a fact that mining in these days are not profitable. 
Ive met some group of financial adviser, they told me that the best way to aquire bitcoin is through cloud mining,
That group of advisers will ruin you! I don`t know who can with, with health mind, recommend could mining over real bitcoin mining. It`s odd that people still fall on this, maybe cause its cheap, you can start with cloud mining easily, all you need is 10$, some minimum, and you will get even bonus hash rates on first deposit, and people you invite, and more than anything else you will get huge promises. For mining you need equipment, very expensive equipment, most of the people can`t afford that, they turn to cloud mining, and that`s a huge mistake, better buy bitcoins with that money and keep them!
There is no such thing as "trusted cloud mining". They are all scammers in the end. It's better to put up your own rig like every smart miner does. These cloud mining services could have been also the same scammers that just keep changing their company's name after they ended their latest one.
Joining to groups wherein they do cloud mining is a little bit risky since you don't know them personally or they are not in your place either, but owning a mining equipment that is another issue since whatever you mine it's all yours but maintaining a mining tools is expensive so you need to earn big to keep those thing working.
Bitcoin mining is a big no for me too. I don't think there is any reputable cryptocurrencies mining firm nowadays. Once you deposit your investment, making profit will forever remain an issue. I will rather buy my bitcoin and HODL it till I am ready to sell it at a profitable price.
It is because mining is not easy; requirements for mining needs huge money and the earnings are too little. If the price of bitcoin fall more, miners will stop mining because there will be no profit in mining due to low bitcoin price. Why they would spend thousands of dollars and waste their time for nothing. That’s why many people now say big no to mining bitcoin.
investing in cloud mining is not really valuable because most of them are just scams, but I prefer trading than mining bitcoin because I think it is more profitable to trade than bitcoin mining
All those cloud mining are very risky and have a big chance of turning into a scam, like hashocean who was said to be trusted and operated for years but turns scam.
You shouldn't try to use "cloud mining" because it does have a lot of fraud, and the cost of "cloud mining" is high! If you really want to mine, then you should choose to buy a real mining machine to get started!
Yeah it is very risky and somebody can take all your investment. it is better to mine yourself and if you see there is no profit or the margin is too low then leave it and start some other business to invest in some Altcoin. It will be better for you. You can make money from your investment in bitcoin or Altcoin but with low investment in mining you can lose your money.You shouldn't try to use "cloud mining" because it does have a lot of fraud, and the cost of "cloud mining" is high! If you really want to mine, then you should choose to buy a real mining machine to get started!
Yeah it is very risky and somebody can take all your investment. it is better to mine yourself and if you see there is no profit or the margin is too low then leave it and start some other business to invest in some Altcoin. It will be better for you. You can make money from your investment in bitcoin or Altcoin but with low investment in mining you can lose your money. 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 have never done cloud mining before but one of my friends was into Bitcoin mining and he never benefitted much from it due to the electricity cost, Bitcoin mining consumes lots of electricity. But I heard there are countries where you will benefit from it or maybe if you have your own light generator, don’t know for sure. I once checked out Genesis Cloud Mining seems like it might be good, but I already have a way making income, so no need for now. 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?
You shouldn't try to use "cloud mining" because it does have a lot of fraud, and the cost of "cloud mining" is high! If you really want to mine, then you should choose to buy a real mining machine to get started!
Bitcoin mining is a big no for me too. I don't think there is any reputable cryptocurrencies mining firm nowadays. Once you deposit your investment, making profit will forever remain an issue. I will rather buy my bitcoin and HODL it till I am ready to sell it at a profitable price.
Pool Mining or Cloud Mining have their advantages and disadvantages. However, if you have the financial capacity, as well as the large space to accommodate the large digging machine and optimize profits, then Pool Mining will be the best option for you. Your finances are limited or you can not afford, so Cloud mining is a good choice for you.
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