BITCOIN MINING QUESTION

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cantonman

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Hello, I keep seeing postings on Facebook about fantastic returns available by getting involved in bit coin mining. The latest one
talked about mining bitcoins on block chain wallets - none of which I understood - and where a $400 investment supposedly provides you $1600 in 48 hours.

Now I realize this has to be a scheme to get $400 from someone, but is there a legitimate way to get a reasonable return in a bitcoin mining program?

Thanks!
 
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It is a scam 100%.

The most powerful BTC miner costs $10k.
It can bring $20 daily.
In most countries, it will be zero payoffs because you will pay the same money for electricity.

If someone has money to invest in a big amount of miners and has free electricity - why they should search for someone who invests small money instead of mine all money by themselves.
 
Any ads that talk about mining is a scam. Thought those were banned already...

No point of mining anymore unless you have access to cheap electricity but still.

Would be better to move to a proof of stake tokens, less environmental impact.
 
Last edited:
cantonman said:
where a $400 investment supposedly provides you $1600 in 48 hours
Click to expand...
All those are scams, like a pyramid scheme. They do not even do any mining. They will collect money, payout for a while, keep collecting money from newer member and one fine day soon, they will vanish in thin air with people's money.
 
Nope best mining is ETH now. and that is long ROI.
based on my try to mine before, best to buy the token directly rather than mining them.
 
For that price, it seems like a cloud mining scam.
 
Hello and thanks for the replies. As I said in my original posting I realize this has to be a scam, but I was not aware if there was a legitimate way
to benefit from mining. I've seen the term cloud mining before, which was mentioned by Don Quim, but are they also scams or legit?
 
Of course, it is a scam. You can invest in mining equipment but it takes time to get the investment back. It's not as easy as the ads make it sound.
 
The only way you earn is when you assemble a mining rig on your own
Stay away from these types of schemes
 
forget about mining.This year last bull and we go into a long bear cycle
 
The electricity costs in most countries make mining not worthwhile to get involved. But if you find a way like solar panels to have cheap electricity then go for it! Why not?
 
Undoubtedly, building your own mining farm is the best option.
But if electricity is very expensive, then as an option to buy cryptocurrency at the bottom.
And fix on the rise. But this is a game on the stock exchange. There are risks.
Best of all, buy and forget for 5-10 years)) Maybe bitcoin will be worth between $200,000 and $500,000 :)
 
Assemble your mining rig then purchasing a special one. Take care of electricity cost.
 
Naughtyfatkid said:
Any ads that talk about mining is a scam. Thought those were banned already...

No point of mining anymore unless you have access to cheap electricity but still.

Would be better to move to a proof of stake tokens, less environmental impact.
Click to expand...
Not true, mining Ethereum is still highly profitable.
 
Only genuine way to make money with mining is to invest in own mining equipment. After 3-5 years, you will start making profit.
 
Most of the cloud mining is scam
If you want to start mining you have to invest in Gpus but not for btc , only eth
 
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