Topic: "Bitcoin mining is a Big no!" - page 8. (Read 4024 times)

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.

Cloud mining is a reasonable way of earning bitcoins and other Crypto-coins in this Crypto age. In a nutshell, it’s simplified mining of bitcoins and altcoins, which relieves you of electricity costs, 24-hour monitoring, software configuration and other complexities associated with the classic production option on your equipment. Cloud mining is the same habit of earning bitcoins and altcoins at the expense of computing power, only without using your equipment. With cloudy coin mining, equipment is leased from services (companies) that have powerful data centers with farms for the production of cryptocurrency.
Now, this means you depend on the Company's operation before your coins are delivered. Also, A lot of people are definitely joining the Company's stream of cloud miners, because majority of us want to earn freely, with low cost of investment. This means, only pieces of Satoshi will be earned, compared to our setting up your equipments and bearing the cost of operation using the ASIC software. That's the real deal, you get to bear the risk and the gain as big as they turn to be. Probably, you can hook some friends up into the game, so it's going to be a shared burden and gain. The gains are massively high compared to cloud mining where you earn chips of Satoshi.

Taking up this advice, I think some MERITS are deserved.

Yes it is good to do mining you will earn big in doing it, but you need to have the software for mining, you cannot do mining if you do not have the software and you also need a big investment or big money to but the software. The computer with the software for mining is too much expensive if you do not have a big money then you cannot do it and it will cost you a big electricity in doing mining. 

I think cloud mining is not a good source of bitcoin earning, the best way is to build your own mining with powerful rigs and hardware to make your mining run smoothly and will exist for long period of time but you need a huge amount of capital for that. After that, you need to have the proper maintenance of the equipment to avoid overheat.

for people who don't have big money, they don't have to do bitcoin mining because it's only a waste of time. they need support from the hardware so they can get a nice reward in a day. besides that, they need to know how much the electricity fee. this is for people who want to do bitcoin mining at their home. but I will say a BIG NO for cloud mining because you cannot get an ROI in a year besides that, the fee for monthly will always increase. it's not worth to try cloud mining even if you want to try to do altcoin mining IF you don't have good hardware for mining. it is better you use the money for trading only, and with the knowledge that you can learn from many sources, you can get a significant profit from trading.

Yeah i think so because bitcoin mining nowadays is very hard and you need very great miner cause the difficulity is extremely hard
I suggest you to choose altcoin mining instead of bitcoin cause the difficulity is more easier than bitcoin and the price is gonna better in the near future

I am more amenable to mining in the altcoin but looking for what is really good, because altcoin is also a lot of good, and not ethereum's fault because it's still the best for now

bitcoin mining are importen, but you should never mine alone.

Bitcoin mining is most important thing because the every important thing is depend on mining. It is more famouse and profibable. Small size mining is not good because the power of mining is very higher. There are many mining centers in the world and they use modern technology. It should be continue with technology because mining will be dificult in futere and we need to stand against that

Cloud mining is a total waste of time and resources. At the end of the month you will be begging to be paid if not totally scammed. Most cloud mining services out there are just scams. If you have the money I will advice you set of your own mining farm but it is cost effective. If not just ignore. It is now highly competitive and most of the tools and hardware are on the high side, plus you will need constant electric supply to keep the mining farm running. Go for the later option and ignore cloud mining.

I think mining is a good way to get a passive income. But mining bitcoin right now is not a good idea. I see the difficulty in mining bitcoin is much higher than before. In my opinion, you can switch to altcoin rather than bitcoin, you can probably consider ethereum, bitcoin gold or monero.

That group of financial advisers are probably group of scammers, no one would suggest you to invest money into cloud mining sites because mostly they are Mavrodi scams.
You should listen to other group who told you that you should stay away from cloud mining.

Now Bitcoin mining could be risky especially when you do not have experience in mining you may end up losing profit, also if you have low budget, better not go with mining That is good for Mining Bitcoin

The amount of bitcoin is limited so we do not have many bitcodes to dig forever, but the bitcoin value will be incrementally increased over time if bitcoin is used, the exposure will be minimized.

Now Bitcoin mining are not so good because we are make a new project and some buy instruments for mining but bitcoin mining are not good out put in bitcoin. I say that this is the loss project to make bitcoin. They are very cost but out put is very losses project.

Base on my current knowledge and even to what I've heard, cloud mining is not really worth because some of them are a scam. If you wanted still to do mining I would recommend to you to buy a mining rig, though it is expensive but, it is really worth plus you can retrieve it in a time. You should take the recommendation of veteran people who fully known this mining system.

Each person succeeds in a different perspective and thought. You need to identify and clarify your goals. With a bitcoin value of only 21 million. The mining process is constantly increasing (including companies and large corporations). In addition, bitcoin mining demonstrates your initiative and profitability in this market. Hence, select high quality mining services and reputations to reduce the risk of scams.

Just as gold is limited, bitcoins are also limited. This limitation creates a scarcity, creating a value for bitcoins, because often something rare is precious. Therefore, bitcoin abortion is not high. The amount of unconfirmed bitcoin will decrease over time

Right. In my country too. It's too costly for the fuel-powered machinery that comes with them.
The cost of electricity bills is too high to maintain.
Some investors have had to liquidate them for ineffectiveness.

Let's say the first group was a marketer group who will have a little commission when they invite someone to join the group so they have to make every word they say appealing, and the second group is people are those group who experience the real bitterness of cloud mining, it is up to you to make the choice and try it or not!