Should We Risk Mining Bitcoin?
You Be The Judge...
About a few weeks ago I wanted to spend my money investing into bitcoin mining only before using steemit but something told me not to. Not too long ago I was doing some research about bitcoin mining and was not to please about the whole thing. Lets see...You have enough hashpower that is above 1 Ehz, Do You Know How Much Is That?! I'm like omg where in hell I am going to get something like that? I do mechanical work but the least I can think about is taking a transformer from a microwave along with its processing slot and use that as a miner and hope it works and does not blow me up into bits; Okay I am getting to 'deep' there but seriously where in hell I am going to get something like that from? Using like a Tribune of Gpus or Cpu processor is very impossible, not only you have to worry about those devices being overheated after overclocking but you have to worry about the cost of your electricity that you generate each day while mining with that type of hashpower, and the devices malfunctioning and stop working, That will really be a waste of money and hard work.
As far as cloud mining goes, I really find it not that bad. There is a problem though, I do not know which cloud mining service to trust. There are a couple of cloud mining schemes that I am trying not to waste my money on. I need a service that I can trust and not to get 'buried beneth the pits of hell', its facts people and I know this had happen too many bitcoin investors. Anyway the least I can do is change my ip address and use Eobot Cloud Mining due the fact that they do not serve NYC residents, so I am going to have to make some changes on that or hit the vpn instead. So that will be all for now, if anyone feel that you want to support me on this then just follow me and check out some of my other post @jonasthomas
Gpu mining is easy especially with one click miners like nicehash and others. You can literally buy a gtx1050ti and after a year it will have paid itself off and you sell the gpu for more money.
Use hashflare cloud mining it's legit company and accepts credit card
They also have a physical addresa and i am with since a while and getting paid
They also have a group on telegram which has about 900 members who some of them investing tens of thousands and very happy with them
https://hashflare.io/r/FE6BF2C9-1C0B9034
And hashcoins (hashflare is just part of it) will open polybius bank next year, the first crypto bank in Europe
Of course it is, it always is. You invest to mine bitcoin, which gives you even more Bitcoin. These are something you should wait for long term. Long term investments pretty much. Get a farm, start mining cash easily a few months later. Also with Bitcoin price increasing, it's a lot easier to get your ROI shortly than ever before.
Please vote for me .. Thank you
Will you risk your investment by changing the ip? I shouldn't do that... i have a lot invested into cloud mining and I can say out there are a lot of scammers promising the moon but there are some cloud mining webs that are good investments. Hashflare more than genesis mining. Mining at home has no risk as if one day is not profitable anymore you always can sell the equipment... cloud mining needs 7 8 months a year to get the investment back and it depends a lot of what strategy you will choose... if you want to invest into hashflare this is my referral link https://hashflare.io/r/426933E4 Or in genesis mining ISD2Lv Feel free to use them and get discount on buying hashpower. If you have doubts just ask me, I'll be glad to help
Here is exactly where you should mention your referral code dear
This post received a 4.6% upvote from @randowhale thanks to @jonasthomas! For more information, click here!
in cloud mining there 4 good company (genesis, hashing24, hashflare and oxbtc)
but right now there one company that put everyone to sleep and its Bitconnect
https://bitconnect.co/?ref=andy514
for the average person its better to mine alt coins and then change to btc or use a program like nicehash which mines alt coins and pays you in btc
Why's that?
Because it could be done with GBP processors cheaper than BTC
yes this is important since some coins like Zcash need 20kH/s and you can have some profit with CPU and GPU. I am new to mining and I am learning a lot.
I'm currently using Genesis Mining, Hashflare and Eobot.
https://www.genesis-mining.com
Refferal Code- vPkSpH
https://hashflare.io/r/18BBB98A
Are you still making money using their mining services?
I read a lot of articles, they are saying buying is a lot practical to own a coins.
What do you think?
Follow me @Yehey
Thank you
Bitcoin mining may not be that profitable now but I see the price of Bitcoin going beyond the $10 000 in the near future. Hence a small loss will now will be a big gain for tomorrow.
Nice post!
I agree with you on this. Longer term 40-110K
Why have a small loss now with buying hardware, setting it up, power, heat and all the time when you "earn" more just buying BTC? It is more profitable for avarge Joe
This is also true and worth the investment.
However, am a technology geek. I like to understand and work with the source. I find this more exciting :)
I tend to agree with you. It is gong to lose money for a while but if the coins are kept, they will become profitable if the price goes up.
Mining for now should be focused on altcoins as they tend to spike in value, whereas bitcoin is more stable, the key is to find a promising altcoin and mine.
Mining is a waste of your resources, if you are considering getting into mining, DON'T.
Instead, buy tokens you are thinking of mining.
I explained why in this post.
Bitcoin future uncertain - cryptocurrency mining is OBSOLETE!
https://steemit.com/bitcoin/@slavix/message-to-all-mining-is-obsolete
In short? No.
BTC and most crypto mining is pretty inefficient by single users, largely due to the costs of electricity and the mining market being dominated by huge miners in countries with cheap power (China, primarily).
True, you can make enough money to maybe pay off the GPU you bought to mine with in a year or so, but there is always a high risk the strain on your hardware will cause problems, or the price of BTC and difficulty to mine it changes over that year.
I mean, look at how the price of BTC changed in even the past few months and think about entering into a longer term investment (Paying off GPU, electricity over a year or two).
Honestly, if you want to get into it, just buy some BTC or ETH and play around with trading, or explore investing in ICO (Initial Coin Offerings).
Like others have mentioned, Cloud mining is an option but you need to be VERY careful who you are trusting with the investment. Lot of horror stories floating around with those. If you do your research it should be fine though.
I have been using hashflare from 2016 and they have been paying me ever since so i recommend joining their service hashflare.io/r/7A4214AD
Bitcoin market is saturated. Buy bitcoins is better then mining them ;)
This post has received a 7.73 % upvote from @booster thanks to: @jonasthomas.
Good post. I would like to hear more on update. thanks
I don't think it's worth it, I mined Ethereum. Honestly I found doing pump and dumps work. I just started a group, details below.
Just started a pump group - there will be NO pre-pump (Can be verified via looking at the graphs) Honest and fair only - just started!
To join the group you have to download and make a telegram account, then click the link below and it allows you to join. We need to work towards a thousand or so members before the pumps work well but in the mean time we will make it work!!
https://t.me/joinchat/AAAAAEPtJOwXdp8GYGghGQ
I personally have a cloud mining contract with Genesis Mining and am happy.
Currently they are delaying payouts to every second day until they address an issue and they have also momentarily stopped selling BTC has power (this happens when they need to upgrade and obtain more hash power so it will not be long before more is available for purchase).
Try Genesis Mining or Hashflare like others here have recommended. I was about to buy a contract with Hasflare at one point, but then Genesis Mining started selling more BTC has power again.
In my opinion, Bitcoin Mining is the safest way to earn money. It will make it's high in the ending of the year for sure.
I have been following Bitcoin over the past two years. This spring, the trend that I was waiting for started to happen: Many companies that sell services and products started accepting Bitcoin as a direct payment method.
As I expected, once this started to happen, the Bitcoin (BTC) value (in USD) started to climb...and has pretty much continued unabated (with an expected price point of $5,000 USD per 1 BTC by the end of the year.
Of course, I was not interested in 'trading' Bitcoin nor buying it at that elevated price (or the Risk of ICO's). What I wanted to do was figure out a way to invest some dollars to CREATE Bitcoin - and then hold on to it to allow the appreciation to grow and/or cash it out to take the money and reinvest in other assests.
Without ging into all the details at this point, BTC is created through a process of 'mining'. Mining uses specialized and powerful computing power (caled Hash Power) to do the complex calculations to verify BTC transactions and get a 'reward' as a result of finding/verifying new BTC.
Now I could (just as you could) invest in the actual equipment but nowadays, the amount you need to initially invest and the time it takes to get this running profitably is beyond the reach of most people.
So, I started investigating 'cloud mining' companies.
Basically, you purchase mining contracts, pay a reasonable service fee and generate BTC that you own and can keep.
Main providers for cloud mining contracts are HashFlare and Genesis Mining
After looking at the mining plans, I picked HashFlare as it seemed the easiest way to buy-in for a reasonably low amount and gradually compound as you can buy Hash Rates (computing power) at fractional rates.
How to get free Stellar Lumens based on your bitcoin holdings:
https://steemit.com/bitcoin/@idealsceneprod/how-to-get-free-stellar-lumens-end-august-27-2017-rush-rush-rush
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me
pleas send me 0.002 bitcoin in my wallet address pleas help me
my wallet address
1MZyQWNbQj7F55hxGdbMfZu9T8tDtvnME1
pleas send me i am very upset pleas help
me
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