Would this be my best bet? - page 2.

leex1528

hero member

Activity: 784

Merit: 1000

I don't think there is a real reasonable way to make money mining for most people. Unfortunately due to electricity costs the market is sort of cornered to people who can have a large farm of mining equipment. It might change in the future depending on what happens here but in the mean time I would stop your mining, as others have said on this thread it will end up costing you money in the long run. Cloud mining seems to be a scam so far. The best way to make Bitcoins is to purchase them unfortunately, you can get small amounts from faucets and stuff like that. Wish you luck on your adventures!

socks435

legendary

Activity: 2030

Merit: 1030

Privacy is always important

Quote from: qelroy on November 15, 2016, 11:31:32 AM

Thank you for your answer.

So there is literally no point in Bitcoin mining anymore?

Because i'm just wondering why everyone else on the forums are building new mining rigs if it's pointless :-/

For now it is hard to mine bitcoin right now even you have a good hardware but there is some alternative ways to mine but in different coin like altcoin.
You can check this section https://bitcointalk.org/index.php?board=160.0
And maybe it can help you to mine some altcoin instead of investing your money in cloud mining site that we do not now if it is legit or not provably almost cloud mining site are not paying anymore and turn into scam best alternative to mine is to build a mining rig and mine altcoin...

Hellacopter

hero member

Activity: 742

Merit: 500

Its better to keep your coins away from the so called cloud mining sites, most of them are just ponzi schemes and will close their doors sooner or later. Try trading altcoins if you have good knowledge about it

LuanX3

hero member

Activity: 756

Merit: 505

Quote from: qelroy on November 15, 2016, 11:31:32 AM

Thank you for your answer.

So there is literally no point in Bitcoin mining anymore?

Because i'm just wondering why everyone else on the forums are building new mining rigs if it's pointless :-/

Don't invest on those cloud mining. Most of them are just ponzis waiting to collapse. Genesis mining indeed has been here for quite sometime. But I think when they are no long profitable they will just run. It's better to just invest whatever you have elsewhere and not to mine bitcoins. Unless you have the money to invest into those bigger mining rigs than USB ones and have really cheap electricity in your place, then go for it. But if you don't have those, then you are better off investing on something else.

Good luck my friend.

qelroy

newbie

Activity: 11

Merit: 0

Thank you for your answer.

So there is literally no point in Bitcoin mining anymore?

Because i'm just wondering why everyone else on the forums are building new mining rigs if it's pointless :-/

qelroy

newbie

Activity: 11

Merit: 0

Hello everyone!

I have been searching around the forums for a while now, to figure out what's best for me in terms of Bitcoin mining.

I have one of those small Antminer USB's, but let's face it.... it will take me a year, and i'm up to 50 cents or MAYBE 1$

There is no way, at this current time i will have the space, nor the equipment to set up my own bitcoin farm, so...

I had a look at Genesis Mining, I have been a customer there before, and everything was running smoothly, now my contract ran out, i'd have to buy myself another contract with them.

But is this my solution, perhaps buying 1 TH/s from Genesis Mining, or can someone recommend a company that does sorta the same?

Thanks!

Alex.

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