Topic: "Bitcoin mining is a Big no!" - page 7. (Read 4020 times)
Bitcoin mining with free registration like faucet will be no harm at all, just use a different wallet from the common wallet you use since there will be possibility they will penetrate your account... You can try them if it's free.. M
There are a lot of scams in the cloud-mining market. And basically, the accrual of the coins is not transparent.
Exactly, they will show the beautiful profit and it drives cloud-mining users into massive investment. But in fact, the users can't ever withdraw their money.
There are a lot of scams in the cloud-mining market. And basically, the accrual of the coins is not transparent.
I don't recommend that you use any "cloud mining" for mining, because there are many fraudsters in them, and many hackers exist, I suggest you try to use a safe way to mine! For example, buy a mining machine!
Risk of fraud
Exploitation activities are unclear
Less fun (if you are a geek like self built system!)
Lower profits - operators must cover their costs
Warning in the contract that the mining operation may terminate depending on the bitcoin price
Lack of control and lack of flexibility .
Still, are you sure of what you are saying? I think cloud mining is just for those that don’t have the equipment for mining direct, so they go for cloud mining and invest their money and at the end of the month they get paid a certain percentage or so. I’ was looking forward to doing that until my friend who was into that told me that profit no longer comes from it. But I don’t know yet, my intention was to invest through him and at end of the month he would give me my share of the earned profits.Exploitation activities are unclear
Less fun (if you are a geek like self built system!)
Lower profits - operators must cover their costs
Warning in the contract that the mining operation may terminate depending on the bitcoin price
Lack of control and lack of flexibility .
Bitcoin mining may not be profitable for current price levels and profit calculations but if you mine and hold them for years then you may become a multi-millionaire but to cover the present running costs you must be millionaire now itself. Yes, bitcoin mining has become a industrial level business not suitable for small scale.
Risk of fraud
Exploitation activities are unclear
Less fun (if you are a geek like self built system!)
Lower profits - operators must cover their costs
Warning in the contract that the mining operation may terminate depending on the bitcoin price
Lack of control and lack of flexibility .
Exploitation activities are unclear
Less fun (if you are a geek like self built system!)
Lower profits - operators must cover their costs
Warning in the contract that the mining operation may terminate depending on the bitcoin price
Lack of control and lack of flexibility .
I don't think PoW will be the future.
It's consuming insane energy, requires a lot of effort when btc gets mass adoptions because of scalability problems.
I think. I'm not an expert but please tell me a different story or solution. I'm curious about the mining VS other way of verification
It's consuming insane energy, requires a lot of effort when btc gets mass adoptions because of scalability problems.
I think. I'm not an expert but please tell me a different story or solution. I'm curious about the mining VS other way of verification
This has been a big thing when the price of cryptocurrencies peaked high, but now if you go through a mining necessity marketplace you could find lot of mining rig for sale. This is all because of the decreased profiting and in locations where the electricity consumption need to be paid high doesn't make any profit considering the present price.
Bitcoin mining is not profitable these days unless you have a mining farm. You will have to spend and invest much more than you will profit. Despite that there are still few enthusiasts that beleive mining will bring them profit.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
That is true and for you to have a profit you should better mine other cryptocurrency for instance EthereumClassic, Pirl, Metaverse and Ethereum are still viable for GPU mining. And unless the market goes in an uptrend and bulls mining will not be the profitable specially the prices if hardware like GPUs are starting to decline due to demand.
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?
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?
Yes it is another way to gain income but it is true that mining is too expensive and risky and it only profitable depends on your area or location. But you can also try to have proof and experience by yourself if you have capital to start doing mining.
It is quite expensive to set up a mining right, and it would take a while to recuperate your capital. Also there is stiff competition, I would advise mining altcoins instead. As it mostly requires less computing power.
Best thing is that you at any time can get your initial investment out of a specific coin, where with hardware mining you need to reach that break even point to not suffer any losses.
Bitcoin mining is not profitable these days unless you have a mining farm. You will have to spend and invest much more than you will profit. Despite that there are still few enthusiasts that beleive mining will bring them profit.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
That is true and for you to have a profit you should better mine other cryptocurrency for instance EthereumClassic, Pirl, Metaverse and Ethereum are still viable for GPU mining. And unless the market goes in an uptrend and bulls mining will not be the profitable specially the prices if hardware like GPUs are starting to decline due to demand.
Have always had this thought that bitcoin mining is as lucrative as the real petroleum mining in itself, Now I know a lot better, thanks for this forum
Bitcoin mining is not profitable these days unless you have a mining farm. You will have to spend and invest much more than you will profit. Despite that there are still few enthusiasts that beleive mining will bring them profit.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
That is true and for you to have a profit you should better mine other cryptocurrency for instance EthereumClassic, Pirl, Metaverse and Ethereum are still viable for GPU mining. And unless the market goes in an uptrend and bulls mining will not be the profitable specially the prices if hardware like GPUs are starting to decline due to demand.
Bitcoin mining is not profitable these days unless you have a mining farm. You will have to spend and invest much more than you will profit. Despite that there are still few enthusiasts that beleive mining will bring them profit.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
On the other hand cloud mining is mostly scam and something it should be avoided unless you don't want to lose your money.
The clear conclusion is that individual mining belongs to sone past times and that you have to choose some other investment type.
I won't venture into bitcoin mining for any reason. I am not ready to loose any money at all. I no longer see bitcoin mining as rewarding as it used to be. Majority of the mining firms are scam and you may never make your principal deposit back, not to talk of the interest promised.
Investing today, more and more investors. This crowded outlook has made investors more developed. But the bigger the consequences of the bad guys take advantage of the market. Losing the capital and profits of investors is not good. This would lead to difficulties for the mining companies that did not comply with the requirement.
Buy some VGA cards and start your physical mining farm, cloud mining is not a wise choose for sure.
I won't venture into bitcoin mining for any reason. I am not ready to loose any money at all. I no longer see bitcoin mining as rewarding as it used to be. Majority of the mining firms are scam and you may never make your principal deposit back, not to talk of the interest promised.
The likelihood that the seller of contracts will be unconscionable. The significant demand for cloud mining has activated some scams offering non-existent production facilities and exploiting interest in BTC – cloud mining has become for them just a godsend. It is worth using only proven services with numerous recommendations and not “peck” on promises of sky-high interest, laying out in the first bitcoin cloud. In its majority, figures above 300% of profitability (per year) cannot exist in theory – the best and reliable cloud-mining websites cannot give such data.
The only thing which you have to consider at time of mining of bitcoin or any other crypto coin is that you have to be sure that you are living at a place where there is a continuous supply of power and electricity. Other than that, you have to be sure that you are having some high performing super computers too for the sake of mining but all of it will cost you much higher. Jump to: