Alexander Petersons talks about the future of Cloud Mining and cryptographic markets
Alexander Petersons is the product director of Hashtoro, a well-known cloud mining service. He was recently interviewed by the media and talked about the future of cryptocurrency markets, decentralization and even how profitable Bitcoin mining is.
The Future of Crypto After The Massacre
We all know that the bear market has demolished many investors who believed that Bitcoin would have reached the sky last year, so one of the most important topics that Petersons talked about was the market. According to him, the market is experiencing a decline, but it will only be temporary. He points out that the market has been declared dead seven times and is still alive and well.
Alexander Petersons defends the idea that Bitcoin could reach the price of $ 50,000 USD this year, however, understands that this will only happen on certain positive aspects. He understands that the fall in the price of Bitcoin occurred after the liquidation of the Monte. Gox resources and that there is still a chance for the price to recover soon but it will not necessarily be very easy.
He also believes that more people will move to cloud mining because of the growing difficulty of hash calculations and expects more cloud mining sites to appear in the coming years. He claimed that Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Monero (XMR) are not going anywhere and these tokens will continue to be strong, which is why the company he extracts them.  Efficiency and profitability of mining
Speaking of the future of the mining sector, Petersons seems to be confident. He believes that, unlike what Vitalik Buterin preaches, the stake test will not replace the test of labor. Yes, Bitcoin mining is a waste, but he believes the key is efficiency. Because? Because it's easier to censor proof of the mail than proof of work, which makes it more secure.
That's why efficiency needs to be improved. Hashflare, he believes, died because it was not profitable and was not profitable because it simply was not optimized to be efficient. In such a volatile market, you must be prepared not to be lucky all the time.
According to him, cutting maintenance costs is very important. Cloud mining can still be profitable even in the midst of the crisis if a company is really focused on efficiency like Hashtoro. The farm of the company is located in European countries that are crypto-friendly and have access to cheap energy, the most important aspect.
Having your mines in a cold country also helps because of the heat and gives ASIC miners more efficiency. The company is even planning to create its own plants optimized in the future to achieve even better results.
The system determines which crypt is most profitable to extract each time and automatically switches to that. At the end of the day, all the coins extracted are converted into currency and customers receive up to 10% more profit in this way. In this way, the company cuts costs and tightens good contracts for customers.
All mining activities on Hashtoro are done on an industrial scale and always use the newest equipment, something that people simply can not do at home. This also makes Bitcoin mining very profitable when prices are low and lets customers stay in BTC without losses.
The executive also talked about other topics such as mining cloud scams. According to him, it is important to stand out in the crowd if you do not want to be confused with a scam. It's all very word of mouth in the cryptography industry, and if you show a good job, people will notice, believe.
In this way, the company managed to succeed even in a market full of scams because it predicted it could be very reliable.
Petersons also spoke of Bitmain. He believes that society is one of the strongest players in the mining market right now, but there is nothing to worry about, because if Bitmain used 51% of the attacks, it would simply make its equipment useless as people would abandon it. Bitcoin.
At the end of the interview, Petersons advised new investors who are entering the market at this time to buy Bitcoin while the price is low. Also, he said that they should educate themselves because the market is complicated and knowledge can help you as cryptos is shaping the world and the market.
He firmly believes that we will see more encrypted legalized in the future and that is when growth will explode.
About Alexander Petersons
Petersons works as a product director at Hashtoro and is an IT specialist and serial entrepreneur. He started in small IT companies in Europe and then moved to the United States when he started working to the top. He also worked on the development of mobile processors in Qualcomm, a telecommunications equipment company from the United States.