user76541: I happened to follow a few Bitcoin related profiles on Instagram today and within a few hours received about a dozen  messages from ppl asking if i wanted s fast secure return up to 5x my investment.  Of course i immediately assumed it was a scam then I did a Google search on.mining pools.  I haven't read where it's a scam or even a high risk move?  
Can anyone give me advice on if I should even entertain the idea.  Or is it something that is just too good to be true. 

user75001: In general, get rich quick schemes are a scam.
Mining pools themselves are safe to mine with, but I do not know of any official investment schemes. Do not send your money.

user49662: Like any good scam, typical mining scams rely on some element of truth, and separating the truth from the lie, especially in a technically complex field can be difficult.
Let me try to break it down piece-by-piece:
Truths:

Mining is a real thing.
Mining in a pool is a real thing.
Participating in a mining pool is possible
If you bring your own ASIC miner and have cheap electricity.
Investing in a mining pool is possible.
It does not require your own hardware to mine.
Some solicitations for mining investments are legitimate.

Lies:

Fast returns!
Mining requires substantial upfront investment for hardware and other costs, then returns slow, steady profits over a long time. (assuming the Bitcoin price does not drop)
Guaranteed 5x return!
Mining does not have guaranteed returns, and certainly not 5x!
Risk Free!
Nothing is ever entirely risk-free, and if it truly is a sure-thing, then they would invest their own resources, and keep the risk-free profits for themselves.
We need your Bitcoin account / password / private key.
Mining requires expensive hardware, and lots of electricity, but does not need any of your Bitcoin info.


76541: <p>I happened to follow a few Bitcoin related profiles on Instagram today and within a few hours received about a dozen  messages from ppl asking if i wanted s fast secure return up to 5x my investment.  Of course i immediately assumed it was a scam then I did a Google search on.mining pools.  I haven't read where it's a scam or even a high risk move?  </p>

<p>Can anyone give me advice on if I should even entertain the idea.  Or is it something that is just too good to be true. </p>
 75001: <p>In general, get rich quick schemes are a scam.</p>

<p>Mining pools themselves are safe to mine with, but I do not know of any official investment schemes. Do not send your money.</p>
 49662: <p>Like any good scam, typical mining scams rely on some element of truth, and separating the truth from the lie, especially in a technically complex field can be difficult.</p>

<p>Let me try to break it down piece-by-piece:</p>

<h1>Truths:</h1>

<ul>
<li>Mining is a real thing.</li>
<li>Mining in a pool is a real thing.</li>
<li>Participating in a mining pool is possible<br>
If you bring your own ASIC miner and have cheap electricity.</li>
<li>Investing in a mining pool is possible.<br>
It does not require your own hardware to mine.<br>
Some solicitations for mining investments are legitimate.</li>
</ul>

<h1>Lies:</h1>

<ul>
<li><p><strong>Fast returns!</strong><br>
Mining requires substantial upfront investment for hardware and other costs, then returns slow, steady profits over a long time. (assuming the Bitcoin price does not drop)</p></li>
<li><p><strong>Guaranteed 5x return!</strong><br>
Mining does not have guaranteed returns, and certainly not 5x!</p></li>
<li><p><strong>Risk Free!</strong><br>
Nothing is ever entirely risk-free, and if it truly is a sure-thing, then they would invest their own resources, and keep the risk-free profits for themselves.</p></li>
<li><p><strong>We need your Bitcoin account / password / private key.</strong><br>
Mining requires expensive hardware, and lots of electricity, but does <strong>not</strong> need any of your Bitcoin info.</p></li>
</ul>
