Well, the answer is yes and no. Since the mining difficulty of bitcoin has increased substantially in the last few years, mining at home using bitcoin mining hardware has become unprofitable for individuals as they can not compete with large international mining operations that own warehouses full of bitcoin mining machines.
In terms of bitcoin cloud mining, since the price of bitcoin has continuously increased in recent years, cloud mining contracts have been profitable investments and will stay profitable as long as bitcoin continues to gain in value. Having said that, historical data shows that investors who simply bought and held bitcoin made higher returns than those who invested in bitcoin cloud mining contracts.
Hence, it is up to you to decide whether you prefer to invest a larger amount once to then receive smaller daily or weekly bitcoin payouts “indefinitely” or do you prefer to buy and hold bitcoin and benefit purely from the capital gains of the digital currency?
Mining takes patience and is not that profitable hobby mining can be done thou
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I think buying and holding bitcoin till it appriciates remains the best option.
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Well put. I've invested in cloud mining services and they seem like you could get a good ROI.
Ill just say it takes a large investment and patience to see good returns with it. What would you say Marketsons?
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what do you think about asic or gpu mining?
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