If we go back to 2014, especially those who have been in the blockchain world for a long time, they may remember the announcement of cloud mining platforms. The bitcoin was moving between 500 and 800 dollars and was an interesting way to make our capital profitable.
Its characteristic volatility, ignorance and lack of confidence towards digital assets did not attract many investors, which is why mining platforms were shown as a safe alternative.
Some companies such as Genesis Mining or Hashflare bought tens of square meters of free space to install hundreds of processors that mine bitcoin 24 hours a day. We could participate in it by investing our capital. Depending on the contracted mining power they paid us a daily residual, modest, but good.
In the following years, bitcoin rose in price and with it profits. Our capital was multiplying and the mining platforms blew their trumpets.
So unexpected was this growth, that it broke any scheme and planning. In 2018, the Bitcoin began to decrease for different reasons that are not relevant, the mining platforms had problems to satisfy the daily payments of the hundreds of new investors who arrived to enjoy this cake.
Maintenance fees and withdrawal fees were unbearable and mining took a back seat.
Currently, multiple cloud mining sites continue to appear on the network, today better known as virtual mining. Premises and GPUS are no longer rented to mine Bitcoin, the activity is simply simulated.
Like a kind of mining, but without resorting to the traditional method, which made contracts more expensive and boycotted the platform's ecosystem.
Security will never be the family of Bitcoin or anything derived from it. Everything carries risk. There will continue to be scammers and pyramid builders but they are increasingly controlled and the investor has sharpened his senses. It catches them quickly.
If you want to have a passive income through virtual cryptocurrency mining, let me tell you that you are not going to find something 100% reliable. You will have to be BRAVE and play with secondary capitals that you do not have. In this way you will avoid many scares.
Some investors continue to use them, as is my personal case, measuring risk well and always using small capitals as a trial and error system. The advantage is that we now have a multitude of cryptocurrencies, not just Bitcoin. This is the case of Tron, BINANCE Coin, USD Tether or Litecoin.
