My experience tells me otherwise...It is totally unprofitable to use Cloud mining. Take genesis mining as example, they are still haven't problem paying out which is suppose to be a daily event. Secondly as the difficult rises, whatever hashrate you bought will not cut it, and you may have to invest more to increase the hashrate(top up). If you think about it, it is not different from a ponzi scheme with slight modification. At least when you buy the mining rig, the rig belongs to you and you can switch to mine other coins(same algo) which maybe more profitable to bitcoin.
RE: Different cloud mining investment options (HASHFLARE VS GENESIS)
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Different cloud mining investment options (HASHFLARE VS GENESIS)
As long as the coin price rises stay ahead of the hash rate and difficulty then the contracts can remain profitable. Other than the payout issues with Genesis I am happy with the my DASH and Monero contracts. Both remain profitable.
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How impressive was that recent Monero gain! All because of news that Koreans will be able to trade it
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Indeed. Though the coin technology has a lot of unsung merit. In my opinion it has the best privacy tech in the crypto space. If governments ever try to clamp down too hard on crypto, Monero will be the one to use.
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