Published
5 years ago on
July 30, 2018
“The one-day difficulty change is 14.88%. What is more significant, the streak of increased mining power has led to a 47.92% difficulty growth over the past three months. The effect of mining difficulty affects mostly cloud mining, which relies on preliminary contracts hinging on the expectation that the Bitcoin market price would offset the higher difficulty and lower rewards. Some analysts see the current break-even price at $8,900, to make cloud mining contracts profitable.â€See the full article for yourself, here. The take home message here is that for now, cloud mining is no longer a lucrative move, as a matter of fact, it may cost you more than you could possibly earn. Of course, then the price of Bitcoin moves up again, so will the potential reward via cloud mining but remember, when the reward increases, so will the number of cloud mining service users. You’ve got to consider what sort of impact that will have on your rewards. Ask yourself, are you spending too much, is it worth it?
