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Monthly reminder that hosted #bitcoin mining is a scam.

Buy bitcoin itself, or pickup a side hustle and convert profits to bitcoin, or buy equity in bitcoin miners, or mine at home with a whatsimmer or #bitaxe

But absolutely do not get into hosted mining. You will regret it

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Discussion

TallBrian 11mo ago

I learned this lesson the hard way.

Deleted Account 11mo ago

Almost same here

Enki 11mo ago

Been saying this before cumpiss mining went south.

Deleted Account 11mo ago

Cumpiss mining is why I am preaching this as well

Enki 11mo ago

Yeah, unfortunately a lot of people got burned by them. It was genuinely sad to watch.

kazlife 11mo ago

What’s an example of hosted mining?

Deleted Account 11mo ago

One of nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z sponsors: Simple Mining

Another one is Compass Mining

Bill Cypher 11mo ago

This is why you don't trust a bitcoiner who uses their real name.

kazlife 11mo ago

They make it sound super legit through the ad reads… typical

Where can I find out more info on how this is a scam?

SUPERMAX 11mo ago

What'sminers are preferred imo

I have been working on getting them to run with 110v too.

Deleted Account 11mo ago

Post updates on the 110v effort that's suck

SUPERMAX 11mo ago

Will do

Deleted Account 11mo ago

Sick*

Ryan 11mo ago

WMs are beasts. Highly recommended.

nym 11mo ago

Most folks day attention to the minimum withdrawal threshold of the pool they are using also.

vectr 11mo ago

Hosted mining is an IQ/darwin test in the wild. The first questions someone should ask about it are “how does the host company make money?” and “wouldn’t they be more profitable if they did the mining for themselves?”

Deleted Account 11mo ago

Exactly

CrnaGoraOne 11mo ago

Hosted mining is like paper bitcoin.

u32Luke 8mo ago

Why?