I have been doing some research and looking at Hashflare.io. Hashflare is a cloud based mining company that provides mining equipment stored at their data center. Basically you pay an up front fee that gets you a dedicated hash rate. From there they take a commission fee off of your earnings. This sounds like a pretty good deal (although it puts the risk in your court and not on them should you not make money). My question though is how profitable is this really? I see videos and posts of people showing off their control panels where they are making some sweet gains and profits. Of course I get that the profitability is directly tied to how much the coin you are mining is worth and you are basically gambling that the coin will go up over the course of your mining contract. From what I can see the only coin worth mining with them at the moment is Bitcoin. I also feel like if this was really a really profitable method that had long term viability that everyone would be doing it and throwing money at it which then becomes a problem because the more miners there are, the less everyone technically gets.
Anyways, please post your thoughts and experiences with this. Specifically I would like to hear from people that already have accounts there and how long it took them to see their ROI and how profitable their venture has been for them. Also how do they feel it will go long term? Have you seen your daily earnings going down?
Thank you.