Is investing in mining still worth it? - page 9.

tabas

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Quote from: avikz on October 08, 2016, 03:44:19 PM

Investing in physical mining is still profitable only if you are not mining bitcoin. Bitcoin solo mining is not profitable from a long time now. But there are some alternate currencies which you can mine and get the profit.

You will have to check with other miners to fix upon a single currency to mine. Monero I think is still profitable. But cloud mining is not a recommended investment. You may loose all your money. Instead buy rigs and start at home. It is even better if you have access to alternate energy source like solar panel.

You are right with it there are newbies that are getting wrong for the description of 'mining' because there are some people who are inviting them to invest in cloud mining as it is just like the same as 'mining'. But they are very wrong with it for it is just a scamming scheme just to get their bitcoins. And for the real mining, I would say it is still profitable but your profit will just be putted into your expenses like electricity and other expenses as well.

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Quote from: ultrloa on October 09, 2016, 07:10:26 AM

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Quote from: Zadicar on October 06, 2016, 12:49:45 AM

Hashnest is a cloud mining which i suppose its not ideal to invest these kind of sites or cloudminings , achieving roi would be so long. Its better to invest on your own mining farm itself if you have the money to invest but be sure you have a cheap electricity to be profitable.

Cloud mining in general, whether legit or not legit, is not worth it with the difficulty that is constantly going higher and higher.

Even investing in your own mining farm isn't really achievable for the average person here.

In order to make some decent income from mining you should invest like $10,000-$20,000 into gear, and that is still the minimum.

In order to keep making profits you have to keep adding/investing in new hardware to not fall behind.

Mining with the bitcoin as a example is not profitable anymore.

Let me your example dude for supporting your statement if mining bitcoin is not profitable, I are need your explanation, and so give me a reliable data about it. cause too many bitcoin miners is not retire from their job.

Bitcoin mining would not be profitable if you are just mining for few miners only and especially when you are using old aged miners and you have expensive electricity then you would not be profitable at all but if you have the right amount to invest and you have cheap electricity then it would be profitable to mine . Others said mining bitcoin is not profitable anymore as of today they are somehow wrong and right, the main thing here is depending on many factors.

yes its not profitable nowadays since blocks are very difficult to find on these days and surely it will harder to find in this coming future, so overall ratings for mining on my side its totally wreck and those business is on shaddy situation and not worth it to invest with so i don't think it will be profitable again for this time, and surely those sites who offer cloudmining is scam and not worth it really to spend even a single cents in our beloved pockets.

You are right, as the years goes by and the halving event increases the difficulty to mine and blocks are much more harder to find thats why mining arent profitable as of today unless you are running lots of it and cheap electricity but if you have expensive electricity then dont mind to mine after all. Cloudmining sites are just total scams.

I dont trust anymore on cloudmining because ive been scammed recently on this kind of websites that why i would not recommend cloudmining and also to build oyu own mining farm would be somehow expensive because you would need the latest asic rigs miners in able to be profitable and as others said electricity should be considered also because this is an expense would be deducted on your profits so that you could able to calculate your net income.

Investing i cloud mining of any type of easy cash investments are things i try to avoid. It makes no sense to me. Because i lost quite some money now and that's why I prefer to stay away from them. And yes i can advice everybody to do the same.

As i said earlier cloudmining are just total scam because they are just accumulating money from their investors and one day they would surely ran off all of the money from their members thats why most newbies would fall always for this and im not an exception on that since i was a newbie way back then.

This is been talk by all of people here and cloudmining really got negative feedback for many people who experienced to invest in that kind of scheme since they know and flagged it as scam, thats why people should really listen and give some little time to read for this kind of discussion if they have plans or finding some best answer for this kind of investing scheme, and people should tag cloudmining/hyips as scam so they can save their money and not compromise by scammers.

If you are a sensible person and do have care on your money and afraid to lose your money then you would surely search these kind of thread because you would like to know the past experiences of some veteran user here and those people who already experience lose on cloudmining sites. If you do read this thread and other realted topic then you would be already awared and might possible not to be victimized by those schemes even if you are a newbie on bitcoin world.

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