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Topic: How do I identify genuine mining opportunities? (Read 996 times)

member
Activity: 854
Merit: 10
February 19, 2018, 10:44:16 PM
#50
They are all joke, just like the bitcoin miner app. By the time you "mine" enough, your "free trail" contract is over.  Undecided

Cloud mining is a business of the scammer; and much better to avoid them and invest in trading because you will be anonymous in your fund. If you have huge money for capital it is great to build your own mining rigs, yes it is risky but it is much better than investing in cloud ming also having own mining site can gives you higher and stable profit.

For that we need lot money setup the mining rig, the best things start investing in trading because with the profits you setup mining rig. Humble suggestion to the OP is don't and never invest into the cloud mining because there are many scammers out there to steal your money without paying anything.
newbie
Activity: 11
Merit: 0
With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.
I believe you're talking about cloud mining. IMO you should waste you money in cloud mining, it's not worth. With normal exploration with antminer or asicsminer you will have to spend around 2 years to be able to take all the money you invested in gold mining back but it'll be longer if you use cloud mining. Beside there are a lot of scam cloud mining so it's not easy to learn a truthworthy one so you should better stay away of cloud exploration and try to earn from a few other way like trading, buying ICO job or maybe holding.
member
Activity: 227
Merit: 10
i invested on this particular site which offers a ROI in just ten days! imagine having to return your investment in just 10 days and after that, it still continues to mine. Now think about is, is it good to be true? don't get hooked up on such thing as high ROI in short time frame etc. try to weigh the facts of a real mining sites
full member
Activity: 392
Merit: 106
I don’t know how to answer this question because even the popular one and trusted bitcoin mining platform can soon be a scammer like website. It’s hard to tell for it will always be a risk and that what internet really is since it is prone to any abused. So if you have the courage to gamble in that, you just have to be ready for anything might happen in unexpected way.
full member
Activity: 518
Merit: 111
Dota2
There is no cloud mining that I know off that can make you any real profit , In my opinion stay away far away from them . There is ton of others things that you can put your money in that is more reliable than cloud mining .
There are some mining sites that is legit but those legit one has a very little profit.
Listen here, the only mining that can get you profit is when you've invested to real mining farm or when you build your own mining rig cause let me think of it. I wonder why people will let you in, in what they are calling some "Mining" when they can just take all the profit? Real miners just need some funds and when they have accumulated or when they built the mining machine they don't need you anymore and they will solo their profit so don't believe online so I think it is better to just learn software and hardware and build your own.

There are few ways to know, though,  these days it becoming complicated.
What I usually do when I was interested in cloud mining then is to always run a deep background search on it, about the company and where it is located.
This is very essential because at the process, you will surely discover something which might make you want to use it or not.
Apart from running a background check on it, also try to read recent reviews because you would see people who might not like the way the company runs and why.
Also make sure these reviews are from genuine people who might have used it. Because sometimes, some companies buys reviews just to look good.

They can't do all sorts of lies online, you can't fully depend on what's online so better check out the actual site (the actual location) and check what are they mining and what are they doing, some mining are not profitable nowadays because mining is getting hard. And again I will just recommend to build your own. Sometimes, Even Items online that has a pretty good reviews can be a failure when you already get it.



This mean that you don't need to trust on internet videos and advertisement. You need to find someone that have reputation when in comes of mining bitcoin industry. This is a big help thread to avoid possible scammer attack in the future plan on mining. But if anyone here can advise or can add put some trusted link about mining, so I can use it and observe it.
hero member
Activity: 648
Merit: 502
There is no cloud mining that I know off that can make you any real profit , In my opinion stay away far away from them . There is ton of others things that you can put your money in that is more reliable than cloud mining .
There are some mining sites that is legit but those legit one has a very little profit.
Listen here, the only mining that can get you profit is when you've invested to real mining farm or when you build your own mining rig cause let me think of it. I wonder why people will let you in, in what they are calling some "Mining" when they can just take all the profit? Real miners just need some funds and when they have accumulated or when they built the mining machine they don't need you anymore and they will solo their profit so don't believe online so I think it is better to just learn software and hardware and build your own.

There are few ways to know, though,  these days it becoming complicated.
What I usually do when I was interested in cloud mining then is to always run a deep background search on it, about the company and where it is located.
This is very essential because at the process, you will surely discover something which might make you want to use it or not.
Apart from running a background check on it, also try to read recent reviews because you would see people who might not like the way the company runs and why.
Also make sure these reviews are from genuine people who might have used it. Because sometimes, some companies buys reviews just to look good.

They can't do all sorts of lies online, you can't fully depend on what's online so better check out the actual site (the actual location) and check what are they mining and what are they doing, some mining are not profitable nowadays because mining is getting hard. And again I will just recommend to build your own. Sometimes, Even Items online that has a pretty good reviews can be a failure when you already get it.

full member
Activity: 518
Merit: 111
Dota2
They are all joke, just like the bitcoin miner app. By the time you "mine" enough, your "free trail" contract is over.  Undecided

Cloud mining is a business of the scammer; and much better to avoid them and invest in trading because you will be anonymous in your fund. If you have huge money for capital it is great to build your own mining rigs, yes it is risky but it is much better than investing in cloud ming also having own mining site can gives you higher and stable profit.

Good suggestion, just sound like " build your own business and be a Big Boss than being employee until you get old and become useless" . Well the risky factor is always there but it has high percentage of being successful than waiting for trading,investing, being a bounty hunter and many more. Just adding a little side comment.
legendary
Activity: 1414
Merit: 1039
With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

Don't ever mine using some oneline service. 99 out of 100 times it's a scam. Cloud mining and mining in general is practically not profitable for the average Joe. The difficulty has come to the point where you would need to be very rich or a pool of money in order to even think about being profitable on mining. Even then, the difficulty could increase significantly over the time you expect to be mining, making you continuously put money into the mining rig for the chance to not even get your money back.
sr. member
Activity: 532
Merit: 280
They are all joke, just like the bitcoin miner app. By the time you "mine" enough, your "free trail" contract is over.  Undecided

Cloud mining is a business of the scammer; and much better to avoid them and invest in trading because you will be anonymous in your fund. If you have huge money for capital it is great to build your own mining rigs, yes it is risky but it is much better than investing in cloud ming also having own mining site can gives you higher and stable profit.
newbie
Activity: 3
Merit: 0
They are all joke, just like the bitcoin miner app. By the time you "mine" enough, your "free trail" contract is over.  Undecided
hero member
Activity: 994
Merit: 502
Several cloud based mining is getting promoted through social media as well self promoted articles. Very small number of such websites seems legitimate, upon the same its good to invest into small scale mining, maybe this will help in improving the mining with different asics and other equipments available.
full member
Activity: 966
Merit: 153
There are few ways to know, though,  these days it becoming complicated.
What I usually do when I was interested in cloud mining then is to always run a deep background search on it, about the company and where it is located.
This is very essential because at the process, you will surely discover something which might make you want to use it or not.
Apart from running a background check on it, also try to read recent reviews because you would see people who might not like the way the company runs and why.
Also make sure these reviews are from genuine people who might have used it. Because sometimes, some companies buys reviews just to look good.
full member
Activity: 1344
Merit: 110
SOL.BIOKRIPT.COM
With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.

It's really hard to know whether the cloud mining you chose is a scam or not. Even it is not a scam, we can never tell that you can be successful all the way, look at what happened to Nicehash, they have been breach and we don't know if the money of the users will be given back or will be lost forever. Well all investments are risky and you should know that by now. If I were you, why not invest in promising ICO or Bitcoin and Ethereum. Just holding onto them will give you decent profit, it's your call not ours.
hero member
Activity: 686
Merit: 500
With scammers everywhere wanting to capitalize on one's lack of knowledge, how can I idenify which mining opportunities are genuine to avoid falling victim to scammers. Help out with whatever knowledge and experiences you might have.
Majority of cloud mining farms are scam.You could try genesis mining as it is said to be legit.You could find three plans based on the hash rate.It is sad that you would have to wait atleast for six months patiently to get back your invested money.Indeed you could even mine some altcoins with GPU systems itself in home and sell them for bitcoins.
full member
Activity: 518
Merit: 111
Dota2
how to know if a cloudmining is scam? -it has a website!
on a more serious note,cloudminings are the thing of the past
even the ones that are legit won't let you profit
if you want to learn more about how to determine the legitimacy of a cloudmining ,go here:
https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387

you can also find a short list of the "legit" sites and also a huge list of the already collaped scams

An good information from a legendary, thanks for it. So much useful for me as a newbie when in comes of mining . I visit the link that you provided in your previous message. It's absolutely hard to understand in a short interval of time. But I'm interested in cloud mining.
sr. member
Activity: 1400
Merit: 269
There is no legit or trustworthy cloud mining sites. This sites let's you buy some imaginary mining power with a high price and takes to long to be able to get the ROI of your investment sometimes you lose your capital instead of gaining when the duedate has come for your investment to grow. This cloud minings are more like crowd funding where they gather the money of investors and once they hit the desired amount or cap they vanished.
hero member
Activity: 1190
Merit: 525
CryptoTalk.Org - Get Paid for every Post!
Avoid all mining businesses which don't allow you to resell your mining power or mining businesses which decreases mining power value within time. That means: avoid 99,9% of mining related businesses... When investing always think on long term, do the math and if there aren't solid returns or guarantess, get away!
hero member
Activity: 3080
Merit: 603
Online mining should never be an option even if the service is legit, they wont give you the profit you may desire.
True but newbies will still insists that they have earned a very attracting amount thought that's not really high. They are for the profit without doing anything and they find it as an effortless opportunity.

There are some legit cloud mining websites where you can invest your bitcoins, but you should keep this in mind that cloud mining wont generate you any quick profits and it would even take a long time to give you the ROI (Return Of Investment). So my personal suggestion to you would simply be not to get into it and try something else, and i'm saying this because i did it myself in past.

Better to learn from the experiences of others with those popular exit scams that happened with these schemes it's not going to be worth it for a person that wants to get in with cloud mining. Better to stay away and find a better opportunity with trading.
member
Activity: 112
Merit: 11
If it sounds too good to be true, it probably isn’t, no investment can consistently generate high returns with no risk or guaranteed returns. Remember all Ponzi schemes always begin with paying out or else they will not attract new recruits. If the primary way of earning is through referrals or commissions, your alarm bells should be ringing since it means that the business model on its own is unprofitable.
member
Activity: 60
Merit: 10
{Capricorn}
It is an unfortunate truth in the  internet world wide web realm, everyday a new website will surface claiming big return of investment.
The good thing is many online reviews now is free to view and read, they can give you insight about the website security and investment accountability
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