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[Gigi]

What is Bitcoin?

I remember the first time I researched BTC mining on a PC was a year back and already it was a saturated and competitive market to enter (I missed the mining bus as they call it). One thing for sure, was that I didn't have the tech savvy to build something mining-worthy, and not just an elaborate room heater. Electricity isn't exactly cheap where I live either, due to excessive taxation.

Cloud mining certainly seems to have some perks, you meddle with less hardware, you get less senseless heat from the computer and there's a lower electricity usage.

But it's not all flowers and sunshine, most cryptocurrency mining sites are complete ponzi schemes (they pay the earlier investors with money from the newer ones).

Legit sites also have a thing called maintenance and electricity fees ("MEF"), which adds up as expense on your otherwise flawless plan of gaining profit in the span of 6 months. Another thing is that mining difficulty increases as more cryptocurrency is mined and there's a huge variation in the balance of cryptocurrency making frequent re-calculations of your "plan" necessary to avoid going into negative profit.

Has anyone successfully seen any profit from Cloud mining? Even small sum stories, I'd like to hear the experience.

 

[overcast]

I don't see anything reasonable wiht mining that block is now very costly. per block mining takes more energy. and even more power to sustain the transaction. so it is better to make use of the other coins and mining them would be better as well.

 

[junrose123]

I really don't want bitcoin mining since my computer hangs every time I would try to mine some bitcoins. If only my computer can do it smoothly then I would probably keep on mining everyday.

 

[tusziget]

I think,as I have read you need a a very strong PC,which you will use exclusively for mining all day long.I have never tried it out,as I have read all this stuff,and I knew,I don't want at all to mine Bitcoin.

 

[Yugocean]

There are no much blocks in bitcoin blockchain where we can mine bitcoin; I used to mine monero, but it's block is also over; Bitcoin is based only on POW, so min ing is the only possible way to generate it.

 

[tusziget]

The question is,what will happen when almost all of the Bitcoins have been mined and there will be no miners in the cryptocurrency world,to do the job?Who will validate all the transactions blocks?I hope that moment never comes.

 

[Yugocean]

Bitcoin mining is not even easy, it requires much much powerful device. Mining may not stop; as I checked Monero mining in two different device; in one device that I used most, there is no mine left; but it is still available in another device.
So bitcoin will also get mining as per device.

 

[tusziget]

Yes,it is correct,if you want to start mining it is important to start mining with the best mining hardware,which was built specifically for that purpose.Companies,like Avalon are offering special equipments for Bitcoin mining.

 

[crisbennoya]

Instead of looking for mining equip, I would look for cloud mining websites.
I have looked for the best and cheapest options and I will give you my opinion about it. All I can say is - it's very profitable! Just start from a small amount of btc and reinvest while making profit.

 

[psyrecluse]

Instead of looking for mining equip, I would look for cloud mining websites.
I have looked for the best and cheapest options and I will give you my opinion about it. All I can say is - it's very profitable! Just start from a small amount of btc and reinvest while making profit.

I have tried vixice before and made a decent profit out of it. Way back bitcoin is a lot more cheaper... I regret selling mine. Can you tell me what cloudmining you have invested?

 

[Kranthi]

you can not see cloud mining with ROI or the cost you invest with them, you just buy cloud mining and hold them, it is just for future in term even the prize goes to 100 x or even more, depends up on the market and the coin you selected

 

[Crystal]

The question is,what will happen when almost all of the Bitcoins have been mined and there will be no miners in the cryptocurrency world,to do the job?Who will validate all the transactions blocks?I hope that moment never comes.

Mining in its term means validating transactions. New bitcoins are generated as reward . Mining will never stop but rewarding for validations, yes.
When new bitcoins will stop to appear (reach 21 mil units) people will still buy and sell bitcoin, will still pay for a coffee or for a car and therefore these transactions needs validating (confirmations). And thats what are miners do : confirm transactions for a fee. The only difference now is they get a reward of 12.5 BTC from time to time and this reward will be given and halved until bitcoin reaches 21 mil units.(supply maxed out).

Once a crytocurrency has been created and its minable (needs transaction validation) , the mining process will never end unless the internet dissapears or if the cyptocurrency is not used (dies in its early stage).

 

[tootsie]

So a site like freebitcoin that offers mining.. we should do the mining say on cell phone alone by itself.. that doesnt do anything else?
Im assuming we can hook a cell to wii fii connection and just let it run all day? I might try . just to see how much bitcoin it earns in a day or a week. and then decide if its a good idea.

 

[brokekid0212]

No because it take too long to make a profit if you are able to make a profit ,the equipment are too expensive and the high electricity cost.

True. I am interested but investment is a must for bitcoins in order to achieve $$$. Maybe I'll settle for the free satoshis from several sites.

 

[lisavy]

I see there are many bitcoin mining pools, what's their purpose in mining bitcoins?

If someone could explain I'd be very grateful. Share the pros and cons if any!

First,

I see there are many bitcoin mining pools, what's their purpose in mining bitcoins?

If someone could explain I'd be very grateful. Share the pros and cons if any!

In my opinion, there are two main reasons:
1. Bitcoin is a digital money that is quite new to a lot of people, if you want the bitcoin to succeed, it must be popular by letting so many people own it. Founders and organizations that hold a lot of bitcoin have this obligation, although it is now considered to be very valuable but actually goes the first 2,3 steps of transformation. What is the value of the bitcoin coin if you own all 21 million bitcoins, in many ways for people to own it such as mining, faucets, even for free ... and collect money Identifying (and possibly destroying :)) or at least making identifiers less valuable ...
2. Too many people take advantage of profiteers by forging, fraud

 

[iAmBitcoins]

HI friends
i want to invest some money so give me your suggestions
like where i should invest
should i invest on buying hardware for mining
you guys know that bitcoin is getting up and up
not only btc but other cryptocurrencies are also getting up
i think it can make me a lot of money.
what do you think about my idea?
have anyone installed hardware for mining?
if yes than how much it cost you and how much are you making???
please give me your suggestions in comments
Thanks

top 3 stable (hyip) investment websites (no particular order) right now are as follows:

you might want to try them

 

[Arisktotell]

This bitcoin mining company- hashing24.com has many ads nowadays popping all over the net including our BMF site. Has anyone here tried investing in them/// legit or scam/// they claim to have the most powerful Bitfury chips...

 

[natico]

Hi everyone
I think the best option for novices like me is to use cryptoTab, which you can download and read from the link below.

In this way, you are going to mining via your browser and use the cpu system as much as you like. It does not require special knowledge at all, and just after you have installed the browser, just keep the browser open every time you work.

In addition, one of the good features of this system, you can get your operation with a minimum BTH minimum 0.00001

 

[midnightoka]

Hi everyone
I think the best option for novices like me is to use cryptoTab, which you can download and read from the link below.

https://get.cryptobrowser.site/2866014

In this way, you are going to mining via your browser and use the cpu system as much as you like. It does not require special knowledge at all, and just after you have installed the browser, just keep the browser open every time you work.

In addition, one of the good features of this system, you can get your operation with a minimum BTH minimum 0.00001

Bitcoin Mining in your browser is pointless. I think I tried it for three days for 24 hours a day and made a total of $0.26. That's with an Intel core i7. So no there is no profit in it. You burn more in electricity. I wouldn't suggest mining at all with your PC. If you have an ASIC on the other hand. Even then with the market how it is. Very unlikely that you will ROI in any short amount of time. If you look at NiceHash's profitibility calculator, you will see that the top earning ASIC is only earning $25.50/Day I also see it is $5900 USD to buy. You do the math. That's all providing the market stays the same which it won't.

 

[anilmr]

What is Bitcoin?

I remember the first time I researched BTC mining on a PC was a year back and already it was a saturated and competitive market to enter (I missed the mining bus as they call it). One thing for sure, was that I didn't have the tech savvy to build something mining-worthy, and not just an elaborate room heater. Electricity isn't exactly cheap where I live either, due to excessive taxation.

Cloud mining certainly seems to have some perks, you meddle with less hardware, you get less senseless heat from the computer and there's a lower electricity usage.

But it's not all flowers and sunshine, most cryptocurrency mining sites are complete ponzi schemes (they pay the earlier investors with money from the newer ones).

Legit sites also have a thing called maintenance and electricity fees ("MEF"), which adds up as expense on your otherwise flawless plan of gaining profit in the span of 6 months. Another thing is that mining difficulty increases as more cryptocurrency is mined and there's a huge variation in the balance of cryptocurrency making frequent re-calculations of your "plan" necessary to avoid going into negative profit.

Has anyone successfully seen any profit from Cloud mining? Even small sum stories, I'd like to hear the experience.

I have just joined new version of Eobot, and they give 10 GHS of mining power for free. There is also faucet rward, where you can earn any crypto of your choice, once a day. You can convert this crypto reward into mining power, thus accumulating mining power over a period of time, with which you can mine any crypto of your choice. This is a good site to start mining cryptos for free

 

[anilmr]

I run minergate in my pc. It dont have high specs so the earnings is very slow. Any idea how to maximize this? I have unconfirmed balance. How to confirm that?

I just started running Cryptotab on my PC. It earns me, though the earning rate is very slow. I am monitoring the electricity bill. So far the speed of my PC is not affected. Only after a month of trial, will I be able to judge whether it is profitable to run Cryptotab on my PC.