What's happening to cloud mining? It seems like only yesterday (December 2017) that buying a Bitcoin cloud mining contract was one of the smartest things that you do. The ROI back in December was less than 100 days to profitability. So what happened? In my latest video, I discuss two of the biggest issues negatively affecting the profitability of our Bitcoin cloud mining contracts which is the new low price of Bitcoin ($8500 - $9,000) coupled with the increasing difficulty every two weeks in the Bitcoin network. And when you add in the daily maintenance costs that cloud mining companies like Hashflare and CCG Mining impose to stay in business, a perfect storm of unprofitability follows. In other words, if you were to buy a typical Bitcoin cloud mining contract today (March 2018) you are almost guaranteed to not make back more Bitcoin then if you were to simply buy and hold Bitcoin. So is cloud mining completely dead? I would not say that it's completely dead, but it is certainly NOT the path to easy riches that so many people seemed to think back in December 2017. No doubt the profitability of these contracts will increase if #1, the price of Bitcoin rises exponentially, and #2, the monthly Bitcoin difficulty remains relatively modest. However, both of these factors are beyond anyone's control.
Hashflare offers only one-year mining contracts. You might want to invest in Litecoin, Etherium, or ZCash if you feel that Bitcoin is no longer profitable anymore.
Genesis Mining is by far the biggest player in the cloud mining market. While they are often out of Bitcoin cloud mining contracts, when they are available they are usually the most reasonably priced multi-year, open-ended Bitcoin cloud mining contracts.
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CCG Mining is a relatively new player in the cloud mining business. The company, based in Poland is fully transparent and is one the few companies to offer open-ended cloud mining Bitcoin contracts. While their open-ended Bitcoin contracts will probably lose you money in the long run with the current low price of Bitcoin, CCG Mining offers a lot of other cloud mining alt-coin contracts which include Litecoin, Ethereum, Dash, Monero, and LBRY. Also, CCG has a very unique product line, the ability to purchase your own mining rig hardware for alt-coin mining.
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