What is the best mining platform for btc?

dansus021

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Quote from: redsun114 on March 20, 2023, 10:55:50 AM

Did you read an official announcement somewhere from Antminer that they are backing the company or are in any way associated with it? If not, I doubt it is not a real partnership. Though I can be wrong, some websites or services use fake partnerships and sponsorships only to gain more investors and users to trust them for their services.

I'm not blaming the websites, but as we all know that cloud mining platforms are about 99% scams and they can never be trusted with money, so it is better to see all the possible ways they can use to lure more users.

Yeah I do agree with you back couple years ago Hashnest is the official product of Bitmain the others like Antpool and Antminer is a well-known brand but after I hiatus couple of years the site is dead They should be a profitable company at least the first is like that.

Long story short Cheesy

I found Company that backed by bitmain called Bitfufu and there is news about it https://www.bitfufu.com/news/NEW100019 - https://www.prnewswire.com/news-releases/bitmain-backed-bitfufu-finfront-holding-company-a-world-leading-digital-assets-cloud-mining-service-provider-entered-into-a-definitive-merger-agreement-with-arisz-acquisition-corp-301467547.html?tc=eml_cleartime

If you are a new member of course will fall like to this even me but they asked KYC for the first time so I think is probably shit just like Hasnest

redsun114

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Quote from: dansus021 on March 16, 2023, 05:53:22 AM

Well like the others I would prefer to stay away from cloud mining The best-known cloud mining back a year ago like Hashnest, Hashflare, and Genesis is dead.

Tell your friend if your friend has a lot capital it better to mine in home or just buy bitcoin.

Recently I registered on a new Cloud mining platform called Bitfufu and Bitdeer Antminer is also backed the company but after I registered and want to try it out the site directly as KYC Undecided

So I'm not gonna test it.

Did you read an official announcement somewhere from Antminer that they are backing the company or are in any way associated with it? If not, I doubt it is not a real partnership. Though I can be wrong, some websites or services use fake partnerships and sponsorships only to gain more investors and users to trust them for their services.

I'm not blaming the websites, but as we all know that cloud mining platforms are about 99% scams and they can never be trusted with money, so it is better to see all the possible ways they can use to lure more users.

Pezroly

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The best cloud mining is here https://www.nicehash.com/, rent out hashpower - min. 0.001BTC. Others cloud mining websites most probably are scams. Check also nicehash at trustpilot for reviews - https://uk.trustpilot.com/review/www.nicehash.com.

dansus021

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Part of AOBT - English Translator to Indonesia

Well like the others I would prefer to stay away from cloud mining The best-known cloud mining back a year ago like Hashnest, Hashflare, and Genesis is dead.

Tell your friend if your friend has a lot capital it better to mine in home or just buy bitcoin.

Recently I registered on a new Cloud mining platform called Bitfufu and Bitdeer Antminer is also backed the company but after I registered and want to try it out the site directly as KYC Undecided

So I'm not gonna test it.

Husires

legendary

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Quote from: ?? on ??

I don't expect Binance going bankrupt anytime soon, so you could check Binance Cloud Mining[1] for your friend.

As shown they have two mining options and both Sold Out one start with 5 USD and other with 11 USD

Quote

Hashrate Fee
0.0120 USD/T/Days
Electricity Fee
0.0531 USD/T/Days
Historical Output
0.0726 USD/T/Days
Static Revenue Rate
62.50%

I don't know if it's really mining or investing and getting returns just like staking, but it's linked to the hash rate movement.
So, even Binance does not offer a golden and free opportunity.

albon

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Quote from: Justtoons on March 03, 2023, 02:56:00 AM

For sometime now, a friend of mine has being on YouTube, trying to find any legit site for mining btc. I have told him times without number that it will be hard to find such site but he still persist.
So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

Immediately tell your friend to back down from his insistence on searching for a legit cloud mining platform for Bitcoin. Many scam platforms and pyramid schemes are promoted on YouTube as reliable cloud platforms that promise huge profits, and this is not true. Because the cloud mining feature is intangible, which does not require you to own or see mining devices, many scammers have exploited it to inflict their victims; also, if the site has been hacked, and with an increase in the complexity of cryptocurrencies, you may find an interruption of the cloud mining service forever, as there are no guarantees that you will recover your investment capital or your gains, so staying away from these scam platforms is the solution.

Rikafip

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Quote from: kelonmusk on March 13, 2023, 09:17:49 AM

In my opinion, it's always best to be cautious when it comes to cloud mining. I think it's important to approach cloud mining with a healthy dose of skepticism and to do your due diligence before investing any money.

Since cloud mining is in 99.99% cases straight up scam, there's really no need to read reviews and waste time looking for a legit ones. Instead, just treat them like they are ponzi schemes (meaning avoid them) and buy bitcoin & store it safely.

kelonmusk

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In my opinion, it's always best to be cautious when it comes to cloud mining. I think it's important to approach cloud mining with a healthy dose of skepticism and to do your due diligence before investing any money.

I suggest that your friend do some research and read reviews from other users before investing any money. It's also important to consider the fees and potential returns on investment.

Lucius

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Quote from: noorman0 on March 05, 2023, 10:11:01 PM

That means, youtube influencers do their job well.
~snip~

If someone wants to gain knowledge about something exclusively on social networks, then he has to face the fact that sooner or later he will fall into a trap. All these influencers are trying to earn something, so even though not all of them have bad intentions, the fact is that they lead many astray.

Bitcoin mining used to be possible on personal computers, and it is possible today - the difference, of course, is that it is no longer profitable at all. This message should be clearly conveyed to people, with a note that cloud mining is only one form of deception that will only generate losses in 99% of cases, and in only 1% of cases will they return the invested amount or earn minimally.

As strange as it may seem, even with the use of faucets in a smart way, someone can earn $1 a day, which is of course a small amount, but still you have $30 at the end of the month.

Synchronice

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Quote from: FP91G on March 03, 2023, 05:36:14 AM

Quote from: Justtoons on March 03, 2023, 02:56:00 AM

For sometime now, a friend of mine has being on YouTube, trying to find any legit site for mining btc. I have told him times without number that it will be hard to find such site but he still persist.
So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

How much money does your friend want to invest in cloud mining?
If your friend wants to mine bitcoins, then let him get some video cards or a mining farm and learn how to use Nicehash. Video cards will mine the most profitable coins, and nicehash will pay rewards in bitcoins.

It's pointless to buy video cards to start bitcoin mining because 99% of GPUs aren't profitable today and even the profitable ones generate so small profit that cost to benefit ratio is absurd. I would love to start bitcoin mining but I checked the profitability of GPUs at WhatToMine and with 0.1 $/kWh NVIDIA GeForce RTX 4090 that costs between $1600 and $3000 generates $0.84 in 24 hour.

Cloud mining is definitely something that you have to immediately ignore. No one is so insane to buy mining equipment, pay for colocation, pay for labor and offer you profitable cloud mining. Beautiful words aren't always backed by beautiful results.

I think that ASIC miners are the only way to go: Asic Profitability.

noorman0

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[Nope]No hype delivers more than hope

Quote from: The Cryptovator on March 05, 2023, 02:29:33 PM

Why, guys, can't you stop thinking about getting free money when nothing in this life is free?

That means, youtube influencers do their job well. What attracts beginners about crypto is actually a quick profit scheme with some light tasks, passive deposit income which is higher than bank interest. Tracking cookies also help them get similar information, so they never realize that everything the influencer is showing is the dark side of the crypto space.

joniboini

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Quote from: The Cryptovator on March 05, 2023, 02:29:33 PM

Why, guys, can't you stop thinking about getting free money when nothing in this life is free? I find it extremely amazing that people are still searching for mining sites, which were once common Ponzi schemes.

If my observation is not wrong, most of these guys are newbies who are new to crypto, and just heard about it from here and there. Not really surprising if you think about it, especially if what they hear is just about profit and how fast and easy is it to join crypto.

That being said, social media perception about crypto is mostly negative, so I wonder where OP's friends hear crypto from. OP should give him better websites/books if he wanted to learn more about crypto so that he doesn't equate crypto to instant profit.

Quote from: ?? on ??

I don't expect Binance going bankrupt anytime soon, so you could check Binance Cloud Mining for your friend.

Just in case OP is trying to try it, make sure you don't use the money you can't afford to lose. There are many fuds around Binance lately so you should consider that too. Who knows maybe they will close some services that can be considered shady to avoid being slandered further, including their cloud mining.

The Cryptovator

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Why, guys, can't you stop thinking about getting free money when nothing in this life is free? I find it extremely amazing that people are still searching for mining sites, which were once common Ponzi schemes. So-called legitimate cloud mining sites do not exist. They are probably Ponzi schemes or some other kind of. Better to spend your money elsewhere. Don't give your money to the hands of the scammers.

YOSHIE

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@Justtoons, Some of the members here have suggested which are the best and which are bad about crypto mining webs, to do, whether it's for you or your friends.

As information to remind you and your friends in the future.
Important:

Quote

🚀 What are the disadvantages of Cloud Mining?
Here are the drawbacks/ cons of Cloud Mining:

Some cloud mining services might commit fraud.
You have no control over cloud mining.

🔒 Is Cloud Mining safe?
There is no guarantee as to when you will find mining gear that is under your control. Therefore, it is best to invest in only those trusted mining sites.

👉 Is Cloud Mining a scam or legit?
Yes, it is legit and not a scam. Cloud mining can be a great way to invest in cryptocurrency, but it’s essential to do your research and choose a reputable company. Make sure you also understand the laws and regulations in your country.

I want to show you some crypto mining websites, which I know and search on the internet at the moment.
Sadly, I don't dare to tell you a good and honest crypto mining site, at the end of the web I always read what I found.
We do not recommend the following services.

Lucius

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Quote from: Justtoons on March 03, 2023, 02:56:00 AM

For sometime now, a friend of mine has being on YouTube, trying to find any legit site for mining btc.

It might sound a bit harsh, but some people just need to be let learn the hard way - so if you've warned your friend that it's not a smart thing to do and he still insists on it, let him try it and see how much he will profit. "Successful earning" methods are not found on YT or other social networks where 99% of the advice is useless or misleading.

The only correct and profitable way to mine BTC is by buying special devices (ASIC) and connecting to one of the respectable mining pools. Even then, profit is not 100% guaranteed.

FP91G

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Look at old bitcoin mining statistics and find modern statistics
https://www.911metallurgist.com/blog/the-cost-to-mine-different-cryptocurrencies-in-every-country
Then try to answer the question, what is the cost of mining for your company and what will they do after the halving if the price of bitcoin does not rise.
Better buy bitcoin now. If you invest in cloud mining and the price of bitcoin is below $20,000, then you will lose your investment.

Husires

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Quote from: Justtoons on March 03, 2023, 02:56:00 AM

So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

The best place is to buy the mining hardware, but then there will be a headache from the costs of the hardware, depreciation, electricity, cooling and space. Do you think that someone will bear all these losses and then give you profits from bitcoin mining?
The only logical thing is to invest in shares of mining companies, but then those companies will be legal and need to verify identity, and then you will be an investor in shares, not bitcoin.
Or you buy directly from the platforms, but cloud mining is a scam.

BitMaxz

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BTC price road to $80k

Most cloud mining sites are scams but if this is for the sake of your friend's youtube and for studying purposes and willing to lose investment then alternatively for Cloud mining I suggest check Nicehash marketplace where you can rent hash rate and miningrigrentals.com are the two that I know still legit.

I don't know if there are other cloud mining sites out there legit but those two are known as cloud mining that sells hash rate but still, there is a risk involved and I can't guarantee that they won't cheat(fraud).

Why not encourage your friend to buy an ASIC unit than invest in Cloud mining buying then mine with your own is way more safer than finding a legit cloud mining sites.

FatFork

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Quote from: Justtoons on March 03, 2023, 02:56:00 AM

So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

From what I've seen, there aren't any cloud mining platforms that are both legit and profitable, so be wary of any that promise guaranteed returns or seem too good to be true. There have been a ton of scams and Ponzi schemes in the cloud mining space, so a lot of platforms that seem like they'd be profitable are actually just trying to scam you. It's important to be super careful and do your research before investing any money into one of these platforms.

FP91G

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Quote from: Justtoons on March 03, 2023, 02:56:00 AM

For sometime now, a friend of mine has being on YouTube, trying to find any legit site for mining btc. I have told him times without number that it will be hard to find such site but he still persist.
So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

How much money does your friend want to invest in cloud mining?
If your friend wants to mine bitcoins, then let him get some video cards or a mining farm and learn how to use Nicehash. Video cards will mine the most profitable coins, and nicehash will pay rewards in bitcoins.

Charles-Tim

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Quote from: Justtoons on March 03, 2023, 02:56:00 AM

So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

He should stay away from cloud mining if he wants to stay away from being scammed. There is nothing better than joining a mining pool with his miners but which are expensive and consuming electricity too. If his mining research is not about getting miners and to join a mining pool, he should not try to mine bitcoin, he can just buy bitcoin and hold it for long instead.

Justtoons

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For sometime now, a friend of mine has being on YouTube, trying to find any legit site for mining btc. I have told him times without number that it will be hard to find such site but he still persist.
So I'm asking today if there's any legit btc cloud mining platform so I can help my friend with?

Topic: What is the best mining platform for btc? (Read 260 times)