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RE: Bitcoin Cloud Mining - Why I´m Invested In It & How Profitable It Can Be!
I have some cloudmining contract at Hashing24 since some months, but if I had invested my money just in Bitcoin and done nothing, I´d have much more by now. I guess these cloud mining contracts can only be profitable, when the BTC price is weak - at least many people say, that it is always better to directly invest in BTC - on the other hand, I´ve never been a Bitcoin guy and the only reason for me to buy BTC is to be able to invest in other coins/projects I believe in....
So far I've got lucky on the cloud mining as my investments turned into profit and I haven't had any issues with it. Of course it depends on many factors but so far I can't complain about it at all :)
Exactly! It is always better to invest in BTC directly. The difficulty will always increase and your btc return will start diminish exponentially.
The time to break even will be much longer. Beware that cloud mining is a poor investment. You will be lucky if you get break even.