Topic: Bitcoin Cloud Mining with HashFlare - page 53. (Read 143042 times)

589 mhs hashflare scrypt hash for sale, really nice price, if interested PM me.

Please add profit switching pool for scrypt

Yes, Hashflare seems trustworthy.
However, every cloud mining company looks trustworthy earlier but later out to be Ponzi.

I don't know if they are real. But till now they pay on time everytime.

Yes, they have a referral commission of 10 % .

I've been looking for a cloud mining company but i cant seem to trust any of them. Ive read some posts in here and it seems to be legit.  Do you offer any referral commission for bringing in sales to  HashFlare?

My logic is that Hashflare is doing genuine mining, trying to earn money and that the contracts they sell are "intended" to be profitable. Why does any mining company sell mining contracts? To fund expansion and further mining ventures. Unlike precious metals or mineral mining there is no doubt as to whether or not the location, the BTC blockchain, has what is desired. The only question is whether it can be mined profitably. So...my assumption, and it is an assumption, is that the contracts are being sold in order to fund increased efficiency of mining since that is the only way to increase profitability in the bitcoin mining game. And since advances in efficiency are going to make less efficient miners less profitable, many will be forced to shut down inefficient mining operations and the result will be fewer miners executing hashing power and potential decreases in the BTC algorithms difficulty which will then attract less efficient miners, again increase the difficulty and the cycle will repeat. So...I remain hopeful that hashflare will be honest, stay competitive, and pay me a better return on my investment than I could have got by lending out my spare bitcoin for margin trading on an exchange. Time will tell.

There's no proof of that. Would you be so kind to elaborate?

This is the closest to results I ve been getting

https://bitcointalksearch.org/topic/1-how-to-make-money-in-crypto-with-minerjoe-hashflare-1579210

Still, cloud mining is a risk, lots of things can go wrong, mining difficulty is the most important issue. BTC and LTC price is the next issue. Make sure you understand these.

Is that not the sales pitch? Hashflare is a farm, they've chose a location with cheap electricity, and they constantly upgrade the inefficient hardware.  I'm still hopefull these contracts will amount to something, there are miners who do make money and selling contracts would be a strategy to keep them financially competitive in a race to upgrade fastest.

In general, purchasing SHA256 power will decline your income from it steadily, because the ever increasing difficulty of the Bitcoin. That's a given fact.

Now regarding cloud contracts, Scrypt power doesn't work that same way. Firstly, it's because (in general) the value of Scrypt-based coins fluctuate alongside the value of the Bitcoin. Secondly, Scrypt income is paid out in Bitcoins. And thirdly, global Scrypt hashpower is rather steady compared to global SHA256 power.
So, generally, if the price of Bitcoins goes up then the price of non-Bitcoin coins goes down, and vice versa. But, since your Scrypt power is paid in Bitcoins, your actual payment (as in terms of $$$ worth) remains very roughly the same; or at least, is far less volatile and subject to direct (global) SHA256 difficulty adjustments, because the (global) Scrypt power is rather steady.

So in answer to your question, yes, Scrypt contracts are more valuable than SHA256 contracts 

They don't and you have lost your money. Sorry to be the one telling you this but money does not fall down from the sky. The only miners who can make money re large farms having access to cheap electricity and constantly upgrading cheap hardware. You have access to none. You should ve gone with scrypt algo, there you would have some chance. With SHA 256, BTC mining, no way. Sorry.

I'm really conflicted on these mining contracts and their premise, maybe someone can give me some pointers.

I bought a contract for 30 TH/s with Hashflare and about 60% of my daily profits go towards electricity and fees, at that rate and with the amount of daily BTC mined it will take me about 400 days to earn back my principal, assuming their is no change to the bitcoin price and the algorithms difficulty. Those are two pretty big assumptions, in fact it seems the difficulty of the BTC algorithm increased 600% last year alone and therefore the idea that I would earn my principal back in a timely manner goes right out the window. So...are these worthless contracts meant to bide hashflare time in a technological arms race, or is there a chance that miners will be forced to dropout because of financing these contract schemes garner to the bigger miners thus decreasing the difficulty of the algorithm and in turn making my mining more profitable. Or is it possible that mining contracts are sold on the presumption that BTC will jump in value significantly more than the difficulty increases and the percentage of fees paid will drop substantially so that I can receive some ROI? 

I definitely should have done some better due dilligence on this stuff, but hey I had money to gamble, and my gamble pretty much amounted to Hashflare is legit and isn't selling worthless contracts.

Now can somebody please explain to me how miners make any money when the BTC algorithm seems to increase several multiples a year? This newb will appreciate it.

You are right. I forgot about the slow start. Last block reward was around 9.5.
The max should be 12.5. So yea, there is still room for improvement.

Genesis is dead for me. My contract was deactivated after not quite 10 months because unprofitabel.
Never achieved ROI. And many others are the same.

In my opinion, Genesis is rip off.

Maybe, you can try genesis mining. They have cheaper zcash mining contacts than Hash flare.

I think the profit will eventually decrease further. Zcash price is falling. I would advice you to stay away from it now.

Due to Bitcoin's sudden rise, profits for both sha and scrypt fell drastically in time. There has been about 20 % decrease in profits in mining contracts.
As Bitcoin price grew, difficulty increased so less mining profits for sha. And meanwhile ltc/btc rate fell so lesser Bitcoin for scrypt.
Profits in scrypt and sha will grow up once again but i don't think there be any improvement in zcash.

Looks like the zCash/equihash contracts are totaly worthless at current price.

0.1 H/s for $3.20 bring only $0.11 per Month according to some calculators.
So no chance to ROI in 12 Months with that.

The zcash price needs to at least double. I keep my fingers crossed.

Scrypt s the best possible option for now but make sure you do understand LTC price and mining difficulty WILL not stay the same for these 10 months. So they might turn into 16 months. Anyway, there re risks.

That being said, I ve ROIed a couple months ago from this contract and if you do search for a larger purchase of scrypt contracts, I might sell some of my hash with 15% discount.

If anyone is interested PM me.

It was very easy to code that. It took only 20 minutes.

According to current situations, for 100 mhs, do not reinvest if you want roi in minimum time. That is would take 375 days to achieve roi.


Now, if your goal is not about achieving roi ,
Suppose you buy 100 mhs today and have decided that you will withdraw your funds 2 years later.
So till which date to reinvest? It means you have to maximize your earnings in a fixed period .

If you do not reinvest at all you get
2.72144 btc


If you reinvest till day 354(calculated using my program) , you get 3.58196 btc

So this is the difference my coffee could make , we can come to know the best strategy for our investment.

note: the day till you have to to get maximum returns depends  the purchased  mhs.
All these calculations, done on current difficulty, maintenance fees, exchange rates.

No, if you purchase right now, you get roi  in 12 months (considering current situation).
But, there are some factors that  should also be considered like currently btc rate is high, it will soon decrease. I only make purchases on Hashflare when I see a discount of 10-20 percent.

If you consider these two things, you can expect roi  9-10 months.

No, don't automatic reinvest. With reinvest option you will not be able to catch the discounts.

Wait, I'll post here best strategy (till when to reinvest) in a day or two.
Note: I would write a program which will do that, just to practice coding and help others and myself too.

Thanks bro. So the ROI should be around 10 months right? If I set to reinvest automatically, the ROI should be earlier. Is this true?

Currently, 100 Mh/s scrypt would yield roughly around ~0.004 BTC per day, net (so maintenance and electricity fees and such already deducted).

If the scrypt algorithm is more, or less, stable than then others I cannot say; I had been tracking my scrypt results, but not the others. Perhaps someone else could fill in on this.
Regarding scrypt, here's my stats for this year (I have 300 Mh/s): Begin this year, I was averaging over 0.015 BTC net each day. Nowadays, it is netting me ~0.011 - 0.012 each day.

For 100 mhs you get 0.003728 btc daily after deducting maintenance costs
(Based on current payouts)

Sha payouts are volatile due to the increasing difficulty.
And, Scrypt payouts are volatile due to fluctuations in btc / ltc exchange rate.
Overall, scrypt seems to be more stable