Quote from: Ganbound on October 17, 2018, 11:08:26 AM

Quote from: hannahboy on October 10, 2018, 10:21:34 AM

Quote from: pinkpanther03 on October 07, 2018, 02:24:04 PM

Quote from: hercules006 on December 25, 2017, 03:00:56 PM

Ive met some group of financial adviser, they told me that the best way to aquire bitcoin is through cloud mining, they gave me names of trusted cloud mining providers and as of my research, they are well known and trusted.
Then ive met some people, whos already earning big bucks on bitcoin, they dont recommend cloud mining. They told me that its expensive and risky, but as for my understanding its good way of gaining passive income.
What are the possible reason on thier contradiction?
Whos recommendation should i try and why?

To tell you frankly, cloud mining is just a piece of shit. Out of 100% of your capital your ROI after 6 months or more would be 75% only, if you invest on any cloud mining site. But if you buy mining rig like Asic or others it is much good though its expensive and will give you a high cost sometime in electricity, But I think it depends if the area is a cold place. Bitcoin mining machine can really give you a passive income as well.

Bitcoin mining is not an easy job and need many things like place for mining, big investment, experts and electricity. In these days the price of bitcoin is not good and miners are not making any good profit, therefore they are thinking about quitting mining. If these miners quit mining the supply will down more but the price will not go up because it is not a product of daily use.

I dont believe in cloud mining because you dont know the miner and give your money to an anonymous person. It is much better to set at home and done work. Atleast you will not lose your money if you are not earning. Cloud mining means to give the keys of your wallet to a person whom you dont know. Anyway I think that mining should be continued but not cloud mining.

Agree with you, we all should do this because safety is all about mot to share your private key with anyone, if you will share it with unknown people so they will hack your bitcoin wallet, I think it is good to mine normally instead of cloud mining, for this you will only have to buy the equipment and to pay the bills, now it is good time for being a miner as much as you will pay your money to mine, it will give you huge amount of profit so dont say no to the entire mining.