In the title the world "COULD" should be emphasized.
One big risk with cloudmining is the possibility of every cloud mining facility to be a ponzi scheme. There is no possibility to know for sure despite you buy your own mining software.
One interesting aspect of crypto cloud mining is the idea of reinvesting. Hashflare does offer to reinvest automatically. This might be a good idea when BTC is high but you should deactivate it when BTC is low. Really interesting is reinvesting because it is like you probably learned in school "interest on interest" or "Zinseszins" in German. So you come into a momentum of exponential growth which is starting slowly and after some time you are making huge profits!
One problem with this idea is that the mining difficulty is also increasing exponentially. As a result the amount of coins you earn per mining unit is falling exponentially.
That's why the exponential growth as a mathematical stucture is neither good nor bad. In this case it is even working against itself in the same phenomenon. So you must always check if your daily payouts are rising:
So you have to check if reinvesting does make your daily payouts higher!
I am writing this article because due to the rise of the BTC price the reinvesting process could turn out to be more profitable again (because reinvestments are made in dollars). If BTC is also rising exponentially this effect adds up to great moments in the future!
2 other reasons why I decided to write this article are new hashflare prices and a reduction until tonight. You can come there through my referral: https://hashflare.io/r/739510BF
These 2 tools help you to calculate, if it is profitable or not. (I personally like cryptocompare more: just put zero to the energy costs, you can put the maintenance fee in the pool fee gap, but you have to think about the buying cost which you must subtract from the profit)
https://www.coinwarz.com/cryptocurrency or https://www.cryptocompare.com/mining/calculator/
If you do it yourself you will learn how to use it.
This guy is telling you not to invest there at the moment because he calculated the profitability of one contract:
2 interesting articles about mining:
https://steemit.com/job/@futurejob/job-idea-living-from-mining
https://steemit.com/investment/@mathsinnature/is-it-the-moment-to-invest-in-cloud-mining
I hope you liked this collection of ideas about mining and please upvote this post, comment or just take my referral because the time to buy is getting better than at my last post!
But always make your own educated decisions!