Hello!
I want to share my experience of mining. I used cloud platforms like Hashflare with small attachments of about $ 100. Now the payback is about 200%, but the problem of all cloud-based mining is to limit the withdrawal of funds. My investment is not enough to mine the required crypto currency for withdrawal. The currency that I'm heading is bitcoin. At the moment, due to the dynamics of the exchange rate and the increase in the complexity of mining, payments are falling. Do you think it makes sense to invest in the cloud mining of bitcoin now?
cloud mining has been synonym for ponzi scheme since the early days of bitcoin. It doesn't need to be the case always but it's something to be heavily considered before making any kind of investment in this space
I personally don't prefer the cloud mining but again, I cant be considered as the reliable advisor because I have never invested the needed money into the cloud mining site. My personal opinion based on the others reviews is actually bad. I also think that the cloud mining owners, it also depends if the site is popular or not, are making the huge amount of profit based on the investor's money. Investors are getting just a small portion of the mined coins and the most important thing is that the difficulty for the certain coins is rising so the people which have invested money into the cloud site can actually end with a big loss and in the end they must in some cases invest some more only to cover their unexpected expenses. I would recommend homemade ASIC miners- If the miner has enough of bankroll he can payout the hardware he invested in and also gain profit and if he decides to stop the mining operations he can always sell the mining equipment for a least half of the money he bought the hardware for.