Mining on cryptocurrency. | Bitcointalksearch.org

virasog

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Please I as answers to these questions.
Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

It seems like you are referring to cloud mining here and most of them are scams. The newly developed cloud mining sites might give you some withdrawal as they need to develop some reputation to gain more customers before they scam.
So, do not try to research much about cloud mining, you will only end up losing your money and time.

Real mining is only done physically with a proper hardware setup which is not so easy to configure and also involves a lot of costs.

robelneo

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Quote from: Jaycoinz on February 09, 2023, 03:37:38 PM

Quote from: Charles-Tim on February 09, 2023, 12:59:21 PM

Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

Cloud mining are scam as NeuroticFish posted already. Either free cloud mining to lure you to pay for premium and have better mining reward, but those are not real bitcoin, they are just numbers represented on the cloud mining sites. Which means you will not be able to withdraw as they are in control and they are not legit. As the free part of cloud mining is even having high reward compared to what bitcoin mining is today, you should know that they are scammers that only just want you to go for premium version inorder to scam you.

I get it cause their was one of the mining i was ask to pay certain amount before I could withdraw. But later on I find out that their was no way again to login.

Whether you pay for a plan or you're using a free hash that they've given just to join, you cannot withdraw your earnings unless you are a promoter and you keep people coming as your referrals, their model is like a Ponzi scheme they will let you withdraw from the start as long as you keep referring people but if you are not referring but invested in one of their plans they will let you withdraw as long as your withdrawal is not equal on of the amount you withdraw and if they just starting out their platform because they know once you withdraw they know that you will refer people or will increase your investment.

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Quote from: judeafante on February 19, 2023, 05:43:36 PM

I suggest to OP to not deposit and forget about this cloud mining you should have mentioned the name of the cloud mining to warn others, anyway majority of cloud mining are scam.

Probably that cloud mining site he is referring is not active anymore as he mentioned that he can't login any more and probably turned into scam which most or all cloud mining sites are.

judeafante

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Quote from: SushiMonster on February 17, 2023, 11:49:47 PM

Are you talking about mining with the cloud?

Because that’s where you would only get the withdrawal thing because if you do actually mining with the GPU, You would have the rewards are in your wallet.

Yes, it is a cloud mining site because he mentioned withdrawing his earnings that's not the case if he is mining with his own hardware, and worse the cloud mining site is asking for a deposit before he can withdraw, OP did not mention if he got a free hash cloud mining site offer free hash to start, or he already invested in one of the plans.
I suggest to OP to not deposit and forget about this cloud mining you should have mentioned the name of the cloud mining to warn others, anyway majority of cloud mining are scam.

SushiMonster

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Are you talking about mining with the cloud?

Because that’s where you would only get the withdrawal thing because if you do actually mining with the GPU, You would have the rewards are in your wallet.

yhiaali3

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Altcoin mining is possible and a bit profitable but it needs GPUs to be able to mine any altcoin, install it on a desktop computer and install the appropriate mining software and some simple settings and you will get the payment to your wallet automatically.

I was mining ETH (before it moved to POS) I also mined ETC, BTG and the profits were transferred to my wallet automatically.

But if you are talking about cloud mining then you are wasting your money uselessly, it is all scam.

albon

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Quote from: Husires on February 17, 2023, 08:13:26 AM

It is likely that you used one of the hill services that give you free mining in exchange for downloading some sites or leaving the browser running.

It is a method that will not make you any money, and if you do, then it is most likely that it is a fraud. They are seeking to either leave side doors with your phone or any other scam.

If you buy mining hardware, you will choose the address of the wallet you want to withdraw to.

Websites and applications that provide these services to any customer for whom he can do free mining through them are undoubtedly scams, and he will not be able to withdraw his funds in the end, and even if he can withdraw his funds, the output can be a few cents after he consumed the resources of his device and wasted a lot of electricity, the Internet and time, Mining can be a good source of passive income, but it may not necessarily be profitable due to the fluctuations of cryptocurrencies, and therefore whoever wants to mine must choose the powerful hardware, the correct software, and mining platforms for the currencies that he will mine, and he must have the good technical knowledge to prepare mining devices, and I advise anyone who has no experience in mining to educate himself and do his research and not to waste his time in cold mining sites and not to invest in Ponzi scheme sites that claim to have vast and stable profits for investors from mining profits.

Husires

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Please I as answers to these questions.
Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

Since you did not answer the questions above, it is likely that you used one of the hill services that give you free mining in exchange for downloading some sites or leaving the browser running.

It is a method that will not make you any money, and if you do, then it is most likely that it is a fraud. They are seeking to either leave side doors with your phone or any other scam.

If you buy mining hardware, you will choose the address of the wallet you want to withdraw to.

Saisher

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Quote from: dansus021 on February 15, 2023, 10:47:28 PM

All member have said is likely true if you "Mining" cryptocurrency you should your own hardware. But from what you have said you get trouble withdrawing to most likely you invest on scam site.

Can u share the website, from where you know this website? if there is People DM you and give huge return investment is 99% scam

True miners are those with hardware if you don't have this hardware and you just invest in one site and it told you that you are paying for its hardware, it's likely Cloud mining, also known as the Ponzi scheme.
Cloud mining is the new Ponzi scheme now, it has been proven it's a fact they enticed people for free Ghs of mining power, and when you see that your earning is increasing they ask you to deposit and buy more hash so you can earn more.
I guess OP is very late in finding this out so he got scammed.

dansus021

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All member have said is likely true if you "Mining" cryptocurrency you should your own hardware. But from what you have said you get trouble withdrawing to most likely you invest on scam site.

Can u share the website, from where you know this website? if there is People DM you and give huge return investment is 99% scam

joniboini

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Quote from: Jaycoinz on February 09, 2023, 03:37:38 PM

But later on I find out that their was no way again to login.

You got scammed and they probably stop their operation after successfully scamming people, you included. Sorry for your loss, I hope you learned your lesson and never trust online mining ever again after this. That scammer is probably gonna launch another service so do watch out for it.

Quote from: Larty on February 10, 2023, 06:46:21 PM

I have been mining for 4 years, developing the farm, updating it. As a result, there was a short circuit and everything burned down. I certainly made a certain amount of money, but it's not millions of dollars. Sad

I don't think this is exclusive to crypto mining though, more like you need to be careful when doing electronic maintenance. If you mess with the wiring or something similar, any electronic device can break down. Visit the mining boards if you want to ask for suggestions or guides on your RIG maintenance, CMIIW. That being said, mining is obviously not for everyone if your goal is to get profit. You need a lot of capital to start and patience to wait until you get your profits. If you don't have any of that, don't try to mine or use a mining service since most of them are scams.

coin-investor

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Quote from: Jaycoinz on February 09, 2023, 03:37:38 PM

Quote from: Charles-Tim on February 09, 2023, 12:59:21 PM

Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

Cloud mining are scam as NeuroticFish posted already. Either free cloud mining to lure you to pay for premium and have better mining reward, but those are not real bitcoin, they are just numbers represented on the cloud mining sites. Which means you will not be able to withdraw as they are in control and they are not legit. As the free part of cloud mining is even having high reward compared to what bitcoin mining is today, you should know that they are scammers that only just want you to go for premium version inorder to scam you.

I get it cause their was one of the mining i was ask to pay certain amount before I could withdraw. But later on I find out that their was no way again to login.

So they are now asking it in a mining platform, if any platform whether in exchange, casinos, or any other platform where you can withdraw the funds that you've earned and ask you to deposit first, that is a clear sign of a scam, we have seen this scheme so many times posted in the scam section if they tell you it is to verify your address, there are other ways to verify one's address like signing the receiving address, this is the legit way to prove ownership of an address.

Daltonik

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Please I as answers to these questions.
Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

It is not entirely clear what you mean by the loss of access to your funds, if you mined cryptocurrency in pools and used a local wallet and did not save the private key, this is one thing. Another thing is if for payments you used the address of any exchange that ran away with your funds.

Quote from: Jaycoinz on February 09, 2023, 03:37:38 PM

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I get it cause their was one of the mining i was ask to pay certain amount before I could withdraw. But later on I find out that their was no way again to login.

And you probably have a third option is the use of cloud mining, which in fact in the vast majority of cases is just a scam, so here yes, you just lost your funds.

Larty

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Cryptocurrency is generally a risky business. I have been mining for 4 years, developing the farm, updating it. As a result, there was a short circuit and everything burned down. I certainly made a certain amount of money, but it's not millions of dollars. Sad

Bitcoin_Arena

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Quote from: Jaycoinz on February 09, 2023, 03:37:38 PM

I get it cause their was one of the mining i was ask to pay certain amount before I could withdraw. But later on I find out that their was no way again to login.

Wouldn't it be great if you disclosed the site here or perhaps even create a scam accusation against them for the sake of saving other future newbies how care about doing some research?

I suppose you learned your lesson, though it might have felt expensive, but now you know that you only mine Bitcoin using specified hardware (ASICs). Any website or app that pops up claiming you can mine bitcoin through it is a scam.

hugeblack

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

You are not mining. You are wasting your time to obtain updates in the databases of a site which is useless, or you give part of your computing power to individuals who are trying to exploit it to achieve profits in return for your promise that you will get profits.
If you don't buy mining hardware, you trust meaningless promises.

stompix

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

A lot of the guys active here in the mining forum, who actually own their gear?
But yeah, pretty obvious what happened, and sad that it's 2023 and there are still users falling for cloud mining scams.
I don't really want to sound harsh but how have you let this happen for so long and haven't learned that "mining" where you buy packages on shady websites that promise you great returns is not mining at all and just scams?

With mining is the same thing as with bitcoin:
Not your keys, not your coins. Not your miners, not your income.

Now, about the bolded part, we can already picture what kind of site that is, but do tell us, what's the name and adress?

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Quote from: Jaycoinz on February 09, 2023, 03:37:38 PM

I get it cause their was one of the mining i was ask to pay certain amount before I could withdraw. But later on I find out that their was no way again to login.

What exactly is this website? It looks like a cloud mining site if you deposit there before you can mine?
Mining Bitcoin or other Crypto always required a hardware machine and connect them to the pool. If you are mining on Bitcoin pool it requires minimum amount before you can able to withdraw from the pool but on Altcoin/other crypto I think if you mine to the pool the mine coins should be directly sent to your own wallet.

Jaycoinz

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Quote from: Charles-Tim on February 09, 2023, 12:59:21 PM

Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

Cloud mining are scam as NeuroticFish posted already. Either free cloud mining to lure you to pay for premium and have better mining reward, but those are not real bitcoin, they are just numbers represented on the cloud mining sites. Which means you will not be able to withdraw as they are in control and they are not legit. As the free part of cloud mining is even having high reward compared to what bitcoin mining is today, you should know that they are scammers that only just want you to go for premium version inorder to scam you.

I get it cause their was one of the mining i was ask to pay certain amount before I could withdraw. But later on I find out that their was no way again to login.

Charles-Tim

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

Cloud mining are scam as NeuroticFish posted already. Either free cloud mining to lure you to pay for premium and have better mining reward, but those are not real bitcoin, they are just numbers represented on the cloud mining sites. Which means you will not be able to withdraw as they are in control and they are not legit. As the free part of cloud mining is even having high reward compared to what bitcoin mining is today, you should know that they are scammers that only just want you to go for premium version inorder to scam you.

NeuroticFish

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Quote from: Jaycoinz on February 09, 2023, 12:43:55 PM

Please I as answers to these questions.
Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

You should first tell what hardware have you used for mining.
Since your question is this generic, I can tell that I did withdraw when I was mining.
But I've never used cloud mining, because I understood very fast that those are scams.
And I have a feeling that you didn't mine with any hardware, instead you've gone for the nice (meaningless!) numbers the cloud mining scam websites are displaying.

Jaycoinz

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Please I as answers to these questions.
Who has been mining any cryptocurrency and have succeded in withdrawing his money, cause I have minied so many cryptocurrency for past years and presently now, but has not have access in withdrawal.

Topic: Mining on cryptocurrency. (Read 223 times)