Hey guys,
In order to help popularizing crypto economy and to make some additional money, I have decided to share some of my investments with the community. I will be sharing information, including actual results, remarks and recommendations about stuff I have invested into. There have been a lot of new guys entering crypto and I believe this kind of information can be a win-win situation for everyone involved. Remember, even though I share only projects which I have personally tested, this DOES NOT mean these projects are risk free. Never invest anything you cannot afford to lose and always do your own research! Please have in mind my reviews and threads are
not about get rick quick schemes!!! I will not write about 3 months ROI, crypto doubles and similar junk cause these things simply do not work. So, let us start with HASHFLARE cloud mining.
1. What is it and what to select?Hashflare is a cloud mining project located in Europe, in Talinn, Estonia. Currently they offer 3 different cloud mining products: SHA-256 (Bitcoin), scrypt (Litecoin) and Ether mining. Although all 3 algos can be potentially interesting, I have selected investing into scrypt contracts. The main reason behind this is Litecoin mining difficulty. Differently from Bitcoin hashrate, Litecoin global hashrate has been almost constant since the beginning of the year. In April 2016, LTC hashrate was 1,484 GH/s compared to 1,520 GH/s in August 2016. So, there has been only small Litecoin mining difficulty increase which keeps Litecoin mining profitability high.
As you can see on the next graph, Litecoin hashrate has been bouncing up and down during the last year which makes it more attractive for mining.
2. Live Actual ResultsI have invested in Hashflare in December 2015 and my results show that it takes about 11 months to reach ROI. Currently. 500 MH/s scrypt hashrate costs 8.45 BTC (at August 8, 2016 BTC price) and it generates about 0.022-0.025 daily NET payouts, after paying maintenance fee. This means ROI can be reached in just above 11 months, depending on Litecoin price. I know some people are going to say 11 months is a long time to break even. I DISAGREE BIG TIME. In my personal experience, any crypto projects which tells you it can generate 4-5 months ROI on your investment or even less, has got big time SCAM written all over it. Do not fall for these promises, if it is too good to be true, it is probably a scam. Please have in mind that in investment banking 2-3% ROI per year is considered as a quite good investment which brings ROI to 33 years or more. Compared to that, I think 11 months currently offered by Hashflare is an excellent results.
Here is what I have been getting from Hashflare per day after purchasing 500 MH/s scrypt cloud hash.
The difference between last scrypt daily payout and my balance is the maintenance fee. The amount from balance is my NET payout, after maintenance fee gets deducted. These payouts do vary a bit, mostly depending on Litecoin price, since Litecoins mined on the basis of your scrypt cloud mining contract get exchanged for BTC on a daily basis. However, it all comes down to about 11 months ROI at current Litecoin hashrate and price.
I do recommend setting your account to reinvest 20% of your payouts in order to increase your cloud hash and hedge yourself from potential future hashrate changes. Also, it is important to mention that scrypt and SHA-256 cloud mining contracts offered by Hashflare last indefinitely (as long as they are profitable) while Ether contracts last 1 year.
3. Legit or Not?Although I have had a very positive experience with Hashflare, anything into crypto can turn into a scam. So, only invest what you can afford to lose. There are a lot of photos of people behind Hashflare online as well as photos of their mining equipment. They do definitely mine but this does not mean they cannot run away or get hacked causing you to lose your investment. This is why I recommend to start with 0.5 - 1 BTC investment and then grow your portfolio if you like your results.
Here are a few photos of Hashflare gear:
Also, there are a lot of photos of people working for and behind Hashflare including their Linkedin profiles. These are real people you can interact with.
4. How to start?That is all for the first time guys, during the following weeks/months, I will be sharing with you info about other projects I have decided to invest into. Stay safe, always protect your coins, keep them in a cold storage, always use 2FA if possible and do not be afraid to ask questions. I am always willing to help out.
Cheers,
Joe