Your friend just know about Bitcoin and said he just invested into cloud mining. - page 2.

warwar

hero member

Activity: 798

Merit: 505

Quote from: lienfaye on September 07, 2016, 04:47:03 AM

I will stop him investing in cloud mining if he is my friend, i dont have to wait to lost his money before i speak. its better from the beginning to give him an advice before its too late. and i dont want him to experience what ive been through.

He already invested in a cloud mining site dude you cant stop your friend. But for me as my prediction now if he just invested on a one of the top cloud mining site now after halving i'll just say that he should just get his roi on that because right now it is very early that the cloud mining site will scam you Cheesy

.

warwar

hero member

Activity: 798

Merit: 505

Quote from: lienfaye on September 07, 2016, 04:47:03 AM

I will stop him investing in cloud mining if he is my friend, i dont have to wait to lost his money before i speak. its better from the beginning to give him an advice before its too late. and i dont want him to experience what ive been through.

He already invested in a cloud mining site dude you cant stop your friend. But for me as my prediction now if he just invested on a one of the top cloud mining site now after halving i'll just say that he should just get his roi on that because right now it is very early that the cloud mining site will scam you Cheesy

.

Darwin02

hero member

Activity: 714

Merit: 500

Quote from: jacktheking on August 24, 2016, 09:54:41 AM

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

I convince him not to invest in any cloud mining sites and say to it why not try trading it's a little bit risky but if you have experience you will earn in it higher than you can make in cloud mining. And cloud mining not profitable at this moment.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

first, i will ask him how much he make invest on cloud mining and then i will suggest him to stop mining with cloud mining if he wants but i don't want to push him to follow my word, its up to him and i only can give him an advice that maybe he needed. but before i telling to stop, i will exlain some info to him, i will explain him what is cloud mining and everything that will be necessary he should know.

lienfaye

hero member

Activity: 3024

Merit: 629

I will stop him investing in cloud mining if he is my friend, i dont have to wait to lost his money before i speak. its better from the beginning to give him an advice before its too late. and i dont want him to experience what ive been through.

kryptqnick

legendary

Activity: 3332

Merit: 1404

Join the world-leading crypto sportsbook NOW!

I must admit that I didn't know about scamming in cloud mining before I read other replies on this post. If a friend of mine decided to invest money in such a thing, I'll mention some unpleasant situations he might face and will ask him to read some information on this website: https://www.weusecoins.com/avoid-bitcoin-cloud-mining-scams/. And yet it is his money and every business involves a great risk, so let it be his way.
By the way, aren't there famous cloud mining companies people trust? I mean, companies which passed the test of time?

Xester

hero member

Activity: 994

Merit: 544

Well he ask for my opinion then I would say things that I know with cloud mining. Tell him the risk factors of joining those investments and show some pictures or articles for some legal basis. I will warn him and advise him to be careful with all the investment sites as some were scam. As a friend I will be really concern with him.

Senor.Bla

sr. member

Activity: 280

Merit: 253

Quote from: Kakmakr on September 07, 2016, 03:05:26 AM

I think I would direct him to this site, http://www.badbitcoin.org/ and ask him to count the amount of sites connected to cloud mining/Ponzi schemes and see if he is still interested in investing with these types of sites. Some people will not take your word for it, so you have to come up with some evidence to prove your point. I have learned the hard way, with telling friends about something their kids did, and even if it was true, they still did not want to believe it, until I brought the proof and now they are left with the red faces. ^hmmmm^

thank you for the site, i will add this. also i think your experience describes how 90% of this cases go down. sometimes even with the evidence they still do not believe you. it depends on the people you are dealing with, but in most cases i do not argue anymore if i have presented the prov and they still wont believe me. then i just wait till they come back crying.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

I think I would direct him to this site, http://www.badbitcoin.org/ and ask him to count the amount of sites connected to cloud mining/Ponzi schemes and see if he is still interested in investing with these types of sites. Some people will not take your word for it, so you have to come up with some evidence to prove your point. I have learned the hard way, with telling friends about something their kids did, and even if it was true, they still did not want to believe it, until I brought the proof and now they are left with the red faces. ^hmmmm^

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: Dudeperfect on September 07, 2016, 12:41:42 AM

Well, instead of friend it was me who was trying to go with cloud mining. I have cancelled my plan because I was and am complete noob in mining and there is no point if I’m entering in cloud mining without proper knowledge. I asked about it before investing in cloud mining here on bitcointalk and I was told to stay away from cloud mining because various reasons.

I would do the same if any of my friend is going is same direction.

that is the point OP is trying to make, you should try to tell other people especially if they are your friends that investing in a cloudmining is not such a good idea.

and if you could, you should always give them links about their scam accusations and the scam topics that you can find so they believe you easier and prevent them from possible big losses.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Well, instead of friend it was me who was trying to go with cloud mining. I have cancelled my plan because I was and am complete noob in mining and there is no point if I’m entering in cloud mining without proper knowledge. I asked about it before investing in cloud mining here on bitcointalk and I was told to stay away from cloud mining because various reasons.

I would do the same if any of my friend is going is same direction.

Antonio G.

member

Activity: 84

Merit: 10

I definitely would warn him to avoid such projects, tell him that he can lost his money and show him an examples in the Internet

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: MingLee on August 24, 2016, 08:11:48 PM

Quote from: rio3233 on August 24, 2016, 07:40:23 PM

Quote from: jacktheking on August 24, 2016, 09:54:41 AM

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

I will tell him that cloud mining is not worth anymore and it will takes long time to get ROI and profit. Especially after the halving, it's become more more harder.

When you invest in cloud mining you're hoping that the overall and total hashing power of the network will go down so that your investment gains more value over the term of it's maturation

As I understand it, this makes sense only if the cloud mining site you invest in is legit. Otherwise, the hashing power of the network is irrelevant altogether, since no one is actually selling you any hashing power at all...

What did I miss (if anything)?

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: Rubberduckie on August 24, 2016, 11:46:16 PM

I'm not sure how anyone has done well with cloud mining. I have heard from a few people they had a nice ROI. I have never had that luck in fact I took a bath invested in CEX a couple years back and lost heaps of bitcoin.

I would tell your friend to run! or really break out a calculator and focus on difficulty
change and if he can make the money back.

the only time I could ever see a cloudmining service be at the very least profitable, it was on cex.io a couple of years ago when it was still profitable and they were running it (now it is paused because of the high fees and unprofitability). and even then it was hard to make a decent amount from cloudmining, the most of the profit came from trading GHS

davis196

hero member

Activity: 3192

Merit: 939

Quote from: jacktheking on August 24, 2016, 09:54:41 AM

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

That would be a very nasty story.

Let`s say i told my friend about bitcoin,but never told him about btc scams.

This would be my fault,i guess.

delliaerd

hero member

Activity: 672

Merit: 500

I think the fisrt i will let he learn about cloud mining and all of the consequences investing in cloud mining, after he face serious obstacle and asking help to me i will give my advice and prefer to him how to looking for bitcoin safely, or at least controlled risk, although majority have a risk.

Rubberduckie

legendary

Activity: 1442

Merit: 1000

I'm not sure how anyone has done well with cloud mining. I have heard from
a few people they had a nice ROI. I have never had that luck in fact I took a
bath invested in CEX a couple years back and lost heaps of bitcoin.

I would tell your friend to run! or really break out a calculator and focus on difficulty
change and if he can make the money back.

ShowOff

legendary

Activity: 2618

Merit: 1181

i will tell them the truth if investing money in cloud mining is actually ponzi scheme and tell them if their profit money is only from new member who deposit on the site and it means their money is other people is money , sometime that way is worked and they know that they almost do wrong thing

Leonard2016

hero member

Activity: 1036

Merit: 520

Quote from: jacktheking on August 24, 2016, 09:54:41 AM

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

you have to tell them. otherwise you would be helping a scam take place.
if you know about the scam, you have to teach them about the cloudmining and how scammy it is. but do it in a nice way instead of being bold about it.

groll

sr. member

Activity: 336

Merit: 250

If I am his closest friend the real friend, and if I am very much aware with bitcoin mining I would suggest him the right thing to do. I would tell him to be cautious and to be very careful in investing with some sites as it always turns to be scam. We could do some research and maybe plan to where and how we would do some investment. As a friend I do not want hin ended up sobbing. Grin

Topic: Your friend just know about Bitcoin and said he just invested into cloud mining. - page 2. (Read 2882 times)