what do you think about....

[Pelop17]

What to you think about cloud mining cex.io is it safe and mostly can you send your money to cryptsy?

 

What do you beleive.

 

Mining or cloud mining which is the faster way to make money and SAFE

 

https://cex.io/

[Guest Generallee]

I think that the mining bubble will burst, leading to a huge amount of second hand AMD graphics cards on the market, thus reducing the price considerably. I'm just waiting at this hole thing to blow up,  & people will be forced to sell their mining rigs.

 

But hey, i'm kinda pessimistic.

[dragosudeki]

I think that the mining bubble will burst, leading to a huge amount of second hand AMD graphics cards on the market, thus reducing the price considerably. I'm just waiting at this hole thing to blow up,  & people will be forced to sell their mining rigs.

 

But hey, i'm kinda pessimistic.

Or would that be optimistic in your case?

[Me1z]

What to you think about cloud mining cex.io is it safe and mostly can you send your money to cryptsy?

 

What do you beleive.

 

Mining or cloud mining which is the faster way to make money and SAFE

 

Crypto-currencies, by nature, are not safe. Their very reason for existing is the pursuit of freedom from banks and other economical regulators at the cost of safety. If you are still interested in crypto-currencies after knowing this, then I recommend you stick to normal mining. Infact, I would stay as far away from cloud mining as possible. With cloud mining, you are basically renting the hardware. If the market collapses you don't even have the graphics cards to sell and break even with your initial investments. It's just like renting a house, at the end of the day you don't actually own anything.

[Pelop17]

Crypto-currencies, by nature, are not safe. Their very reason for existing is the pursuit of freedom from banks and other economical regulators at the cost of safety. If you are still interested in crypto-currencies after knowing this, then I recommend you stick to normal mining. Infact, I would stay as far away from cloud mining as possible. With cloud mining, you are basically renting the hardware. If the market collapses you don't even have the graphics cards to sell and break even with your initial investments. It's just like renting a house, at the end of the day you don't actually own anything.

i have a mining rig and i will continue to mine with it. So i should just use cloud mining for a short period of time and not have hope that i will be making lots of money.

1) Do you know if i can send my money from cloud-mining to cryptsy?

 

Also i dont trust ver much cryptsy, where should i put my money?

[Me1z]

i have a mining rig and i will continue to mine with it. So i should just use cloud mining for a short period of time and not have hope that i will be making lots of money.

1) Do you know if i can send my money from cloud-mining to cryptsy?

 

Also i dont trust ver much cryptsy, where should i put my money?

 

From cloud-mining the money would be sent directly to your crypto-currency wallet and from there you could transfer it to cryptsy or any other exchange. With Mt Gox as an example, you should never store your money in an exchange, unless you are actively trading it. The safest/most stable place for you to store your money when not being used is in your wallet.

[Pelop17]

From cloud-mining the money would be sent directly to your crypto-currency wallet and from there you could transfer it to cryptsy or any other exchange. With Mt Gox as an example, you should never store your money in an exchange, unless you are actively trading it. The safest/most stable place for you to store your money when not being used is in your wallet.

but i am in a multipool? In cryptsy i made all my money bitcoins ( can i transfer my bitcoins from cryptsy  to a bitcoin wallet ? )

Also the money if done by cloud mining i should send them into my wallet in this case bitcoin? right?

[Me1z]

but i am in a multipool? In cryptsy i made all my money bitcoins ( can i transfer my bitcoins from cryptsy  to a bitcoin wallet ? )

Also the money if done by cloud mining i should send them into my wallet in this case bitcoin? right?

 

Yes, you should be able to transfer your bitcoins to a wallet, and yes you should send any money from cloud mining to your bitcoin wallet as well.

[Pelop17]

Yes, you should be able to transfer your bitcoins to a wallet, and yes you should send any money from cloud mining to your bitcoin wallet as well.

you are the best!, i will do it now!

[Pelop17]

Yes, you should be able to transfer your bitcoins to a wallet, and yes you should send any money from cloud mining to your bitcoin wallet as well.

Do you have any suggestion of bitcoin wallets?

 

i need it from the bitcoin side: https://bitcoin.org/en/choose-your-wallet

 

FOR DESKTOP

[Me1z]

Do you have any suggestion of bitcoin wallets?

 

i need it from the bitcoin side: https://bitcoin.org/en/choose-your-wallet

 

FOR DESKTOP

 

You seemed to prioritize safety, so I would stick with Bitcoin-Qt. As it says on the site it offers the highest security and stability, but it uses more computer resources.

[Pelop17]

You seemed to prioritize safety, so I would stick with Bitcoin-Qt. As it says on the site it offers the highest security and stability, but it uses more computer resources.

what do you mean? but it uses more computer resources.

 

Also what does the other wallets offer?

[Me1z]

what do you mean? but it uses more computer resources.

 

Also what does the other wallets offer?

 

Bitcoin-Qt is a full client that works as a node in the bitcoin network which adds security, but when running it uses more ram and it takes up more storage space. Armory seems to be based off the original client, but has features like offline storage. MultiBit and Electrum work in the same way that they are not full nodes and need to communicate with a separate server to access the bitcoin network. Because they are not full nodes they use less system resources and are able to perform transactions faster, but are less secure because they need to communicate through a server functioning as a node.

[Pelop17]

Bitcoin-Qt is a full client that works as a node in the bitcoin network which adds security, but when running it uses more ram and it takes up more storage space. Armory seems to be based off the original client, but has features like offline storage. MultiBit and Electrum work in the same way that they are not full nodes and need to communicate with a separate server to access the bitcoin network. Because they are not full nodes they use less system resources and are able to perform transactions faster, but are less secure because they need to communicate through a server functioning as a node.

Thanks now i am downloading the QT

 

My question 1) withdraw or deposit ( i need to move my btc from cryptsy to my wallet)

                     2) Will i use my wallet address ( generate a new address)/ or cryptsy will send me a payment address?

[Me1z]

Thanks now i am downloading the QT

 

My question 1) withdraw or deposit ( i need to move my btc from cryptsy to my wallet)

                     2) Will i use my wallet address ( generate a new address)/ or cryptsy will send me a payment address?

 

I don't use Cryptsy, so I don't know specifics but I found these instructions and they seem pretty straight forward:

 

In your wallet go to receive and copy the address. In crytpsy go to balances, click on Bitcoin & select withdraw. Fill in the needed info. Cryptsy will send a confirmation mail, remember to confirm it by clicking the link in the email.

[Shack Tastic]

Here's a nice bitcoin wallet that I use... https://electrum.org/   It's really lightweight, and very useful as you can access the wallet anywhere as long as you know the password. 

[Pelop17]

I don't use Cryptsy, so I don't know specifics but I found these instructions and they seem pretty straight forward:

 

In your wallet go to receive and copy the address. In crytpsy go to balances, click on Bitcoin & select withdraw. Fill in the needed info. Cryptsy will send a confirmation mail, remember to confirm it by clicking the link in the email.

Here's a nice bitcoin wallet that I use... https://electrum.org/   It's really lightweight, and very useful as you can access the wallet anywhere as long as you know the password. 

Thanks guy!

[zeke_touchdowns]

Hello, Im new to bit coin mining and want to purchase parts that i have already located for roughly 210 USD. If i net 5.2 gh/s how long would it take me to break even and do you think it would be profitable in the long run. I am fascinated by the whole process and as a 15 year old, a small sort of income that could easily fluctuate into profit makes me excited.

 

 Do you guys think it is worth it, or am i to late to the game. Being 15 i obviously don't really have tons of money to throw around but it is less of a risk considering i live at home and don't have to pay for much. Also if I am planning on using 2 red fury bit fury miners can i even obtain a currency like litecoin with these or is that purely reserved for gpus. Thanks

[Shack Tastic]

Hello, Im new to bit coin mining and want to purchase parts that i have already located for roughly 210 USD. If i net 5.2 gh/s how long would it take me to break even and do you think it would be profitable in the long run. I am fascinated by the whole process and as a 15 year old, a small sort of income that could easily fluctuate into profit makes me excited.

 

 Do you guys think it is worth it, or am i to late to the game. Being 15 i obviously don't really have tons of money to throw around but it is less of a risk considering i live at home and don't have to pay for much. Also if I am planning on using 2 red fury bit fury miners can i even obtain a currency like litecoin with these or is that purely reserved for gpus. Thanks

 

Use this site to predict profitability over time using their % increase per month for difficulty to see if you actually make money.

 

http://thegenesisblock.com/mining/