Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
When the dust settles there is no room for cloud mining. For cloud mining to makes sense you're dependent on ever increasing prices. And if you think prices will shoot up like that you should probably just buy coins.
Wrong. Both mining and cloud mining are the most effective when prices are stable. This way you can profit even if there's completely no price movement for a year. If the value goes up holding becomes more profitable and if the prices go down both mining and trading become unprofitable. The only thing that can bring you profit in such case is trading (waiting for small bounces and bull traps to sell).That goes for you to. And we haven't seen the kind of stability you're talking about since they started with cloud hashing and I honestly don't think the margins will allow it if/when we get there.
I never said it was stable and that is why mining is not that profitable and cloud companies are going bankrupt one by one. In a stable market mining would be the most profitable solution, beating both holding and trading.
I usually start with 2 btc @x20 leverage and work my way up, once I have 6-8 I cash out the extra and start again with 2. Given the current market conditions I haven't cashed out yet since the potential to profit is very high. This bear wave is strong and I don't see it ending anytime soon.
I agree, we'll probably end up testing January prices again, but another pump is right around the corner.
