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RE: Is Hash Flare still a good idea to invest in?
Good points yes the mining difficulty is rising. What we are hoping is that the bitcoin price will go up like it did in Dec-Jan and the bitcoin price will nuliffy the difficulty.
The scenerio you describe is a worst case scenario and a possibility. The other possibility is the bitcoin price goes up to $20,000.
I think you didnt read it correctly. I am not describing a new scenario. i am pointing out the massive calculation mistakes in ur post. You mentioned "You have researched and found out it is still profitable" whereas, it is almost 50% loss if someone invests in Cloud Mining when the price stays where it is now.
Anyways, anyone who includes all the possibilities in calculation knows Cloud mining is a stupid investment.
Reason: If bitcoin goes 100k in 12 months, 8k investment today(buying 1btc) will give 100k return.
Whereas a 86thz hashflare will generate less than 1 btc. Meaning, buying and holding will give you a lot more profit than hashflare. If btc is only 20k by end of year, you might hardly break even because of maintenance fees.
All this calculations are under the assumption mining difficulty will be as same as last year. If it increases more than last year, it may end up in far lesser profits.
Yes this was a miscalculation on my part and this an earlier post. I have since updated in my later posts to say that cloud mining on hasflare is not profitable at this time. I recommend investors wait until bitcoin goes up to a higher number before considering investing.
Thank you for the feedback your information is appreciated.