Post
Topic
Board Mining
Re: is there such a thing as a non-scam cloudmining operation ?
by
mikeywith
on 21/09/2021, 23:11:49 UTC
IF they are legit ...    doesnt the "overpricedness" really depend on what the market is going to do ...   or would btc going up not really matter, as you would also me mining less and less, as time goes on, due to difficulty etc ...

There are a few factors involved, nothing I say or think is worth anything for that matter, in other words, you can't take any of it to the bank, what I know and have been saying for years is that difficulty will ONLY go up regardless of what the price does, of course, I am not talking about the short term drops that happen within a month or so, I am simply stating that the average difficulty this year will without a doubt be less than that of next year.

The second most important factor to most folks would be the price of bitcoin, while price tends to go up in the very long term, there is no guarantee that it will go up within the period of the contract, plus, notice why I said "to most folks" because, to me, price does not matter, simply based on the fact that if you are certain that price will go up, why not just buy bitcoin instead of those mining contracts?


The whole purpose of mining be it cloud mining or actual mining is to make more BTC than what you can buy directly, if not, why even bother? of course, there is always a chance that you will end up making more BTC buying those contracts, but then, so many stars have to be aligned for that to happen, chances are, most folks won't be making more BTC than what they could otherwise buy directly.

The recent difficulty drop caused by the mess in China was probably the only reason why buying those contracts a few months back was a good move, but I won't be counting on that to happen again.