Topic: Cloud Mining Journey (with Hashflare) - page 3. (Read 4614 times)

Hello,

An update from my side after 30 days in Hashflare/
Just to reminder, i started on Dec 10 2017 with 84 TH/s

For now i recovered 39.2 % ( in BTC ) from my initial investment
which makes breakeven at 77 days.

I have been quite lucky as previous mining difficulty has been only increased by 3.1%

Next one ( currently scheduled for Jan 12 ) should be higher, around 10%

I didnt get a chance to reinvest as the BTC price didnt get much higher since my last update ( the only condition i would reinvest was the BTC to make a big jump higher )

Thank you, didn't think to look under that title even though I had been reading up their FAQ and support. Since they have been increasing and decreasing the minimum and transaction fee reactively, the 'at the moment' is kind of worrying.

Still waiting for OP though. I'm curious.

Sure you still can make the withdrawal even you do not meet the minimum conditions.
Check this out at HashFlare FAQ What if my final balance is lower than the current minimum withdrawal amount?

I've been waiting for OP to post whether he/she was finally able to make a withdrawal too.

Newbie question: if I don't reach the minimum threshold for a withdrawal and my contract runs out, and I want out, can I still withdraw or they will end the contract with my money? Thanks.

Hey, I want to try it out.  SOmeone got a voucher code for me?  Please PM it, and don't spam the thread.

Hey mghaynes  ... Hope you're doing OK in 2018.   How about an update.  have you withdrawn yet ?

I started a similar Journey with you on Dec 6th,  Bought 2TH for $300 US and don't care if I loose it.   

I wanted to try reinvesting for 6 months and see how the changes in difficulty and price per TH affect that strategy

so far in 1 month I'm at 2.59TH

Most ICO's are scams. Plenty of scams in crypto. There are no safe investments here.
I find it puzzling that people come here to dump on cloud mining and pump their ICO scams.

Still there are many fools in the market who is investing on the cloud mining platform. When many people comes a victim and reporting here as the complaints and many things.
Still many people doing that mistake for the long time, They may be risky to the have the contract for long time, they may block your account or they will charge extra charge as the payment for the cloud site.

I am aware.
Anything can happen, and I always advice anyone to invest only the amount of money they afford to lose.

Genesis and HashFlare are here for some good years. I am new in Crypto, and I admit I was very skeptical.
Their business model is clearly in favour of them. They invest in mining hardware, start to mine for themselves, then by selling this hashpower to users, they already have most of their investment returned.
Plus, after one year (the contract duration on HashFlare) they remain with the hardware. It won't produce that much after one year but they for sure will reuse it  for the same contracts to new users or switch to other coins that are more profitable to mine.
Plus, they are protected in case of investing into equipments that have mined a coin that drops 90% due to.. who knows what security issue is found in the code.

That's why I think these limited contracts are a proof that the company is protecting as much as it can, in order to be able to remain on the market, as a trustful one.

If you catch a good offer of these contracts (with trusted cloud mining companies for years) and the mined crypto is in a bullish trend - you are going to make a better ROI.

Of course you have to consider the difficulty increase.
There are so many aspects. I made that profit estimator for cloud mining mentioned in an earlier post - so that anyone can play with it and make a better ideea of what is possible.

As I said - some day it may come the news like ... NiceHash has been hacked
Or exchanges gets hacked, or closed, or ...

Get informed, study, and again: invest only as much you can afford to lose.

Cloud mining cant gives you good income then your capital would be on the higer risk investment that is why if you gain profit in this cloud mining (hashflare) much better to withdrawn all your investment because in the long run it will be a scam site. I rwad more statement for those users experience inveating in cloud mining but their experience almost the same.

Goodluck to all investors of this cloudmining wishing that this site will continue the good work and do not become a scam because base on my experience there are some previous cloudmining which gather lots of investors due to their good services but one day many people git shock because more withdrawal become pending then later on their site does not exist. In short they became scam mining.

With the price of bitcoin at an elevated value, it changes the ROI significantly. Which means any calculations prior to December are likely irrelevant, along with the opinions about cloud mining.

To all of you who want to make a more clear idea about the profitability of these contracts... take a look here:
https://docs.google.com/spreadsheets/d/1AtXK_-mabN0RaUTlROutF-Sx0u_NE2Q0rJbsNoa9IDY

The main condition for mining profit to overcome the value of HODL'ing the bitcoins, is the difficulty adjustment.
By following the pattern of the previous year (2017) - you definitely win with the mining. Otherwise - you better keep the coins.

Just play a little bit with the numbers and let me know what do you think. Just make a copy of the spreasheet, do not edit the original document.

Hashflare doesn't run their own pool, so they can't control what the pools pay out.

"Kangaroo Cloud Power Project"
Never heard of them. Let us know if he actually gets BTC out of it.

Antpool estimates 0.00013223 BTC/Th on their website.

0.0001812972 BTC per TH/s at 12/28 is impossible!
You can simply try to use a caculator for example

https://www.cryptocompare.com/mining/calculator/btc?HashingPower=1&HashingUnit=TH%2Fs&PowerConsumption=0&CostPerkWh=0

You will find only 0.0001342 BTC a day.
I think 袋鼠云算力 might be a scam...

Hello rangermy

Could you please let us know what's your friend's cloud mining? Genesis Mining? or what?
And what is the hash power's  price he/she buy per TH/s from the cloud mining?
Thanks.

Hello,

18 days since my contract with Hashflare started

Recovered already 23% of my initial BTC investment.
My initial breakeven period has been delayed of 4 days from 74 days to 78 days

So far I got no reinvestment strategy but reaching the breakeven as quickly as possible

I should be able to keep that pace for the 2 weeks after Jan 1 ( next scheduled  diff change ) as so far, then next mining difficuty should not increase very much :

It is just 0.5% ahead for now : https://diff.cryptothis.com/

So i can expect to me on schedule for the next 5 days + 14 days

I should probably recover 50% of my initial investment on day 40 which is pretty good 

I do not plan to change the current strategy unless BTC surges dramatically ( then i will reinvest in TH/s) or HF gives some great discounts on TH/s

Will see

It's possible to make a profit under the old price ($1.5). In order to make a profit at $2.2, the price of Bitcoin would have to stay over $20k.

No, as the price for 10GH/s is still at $2.20 (was $1.50).
Don't think that you make money with that price. Therefore reinvest isn't a good deal at this time.