Topic: Cloud mining with Hashflare still profitable (Read 12717 times)

I'm sorry, I guess most people here do physical mining and your electricity costs would be somewhere in the 0.02USD to 0.05USD per KWh. If so, then cloud mining with Hashflare or Genesis Mining would be a waste of time for you, but for someone like me who's electricity costs is at 0.12USD per KWh, Hashflare and Genesis Mining gives me a good option.

I've personally invested 450k Philippine pesos or 9k USD into Scrypt (Litecoin) mining (who would put money in SHA256 certainly doesn't understand that the power consumption or maintenance of mining SHA256 would be too high). This was on December 2016, when LTC was at 3USD and Hashflare's offering was at 6.6USD per MH/s. In a short 5 months, I recouped my investments due to BTC rising to 2700 USD, and LTC shooting up to 50 USD.

Right now, I'm enjoying profits since I've already recouped my principal. Obviously I won't increase my Hashflare investments and am purchasing ASIC miners from Bitmain (the L3+) and pursue mining with a low 800W ASIC miner because this has a higher return than Hashflare even at 0.12USD per KWh, and I guess that's the logical progression of things.

Immediately dismissing Hashflare because you were scammed by some two bit unknown site would be tantamount to saying that you still wet your bed since you did it when you were 3 years old.

Hashflare's mother company is Hashcoin and Hashcoin creates mining rigs and ASIC miners and also spearheaded the ICO named Polybius.
Running since 2014, I think this company has a place for miners whose electricity is high and can't afford to purchase an ASIC miner.

This is something that people are just simply going to have to accept, I don't know how anyone would think that Cloud Mining isn't a scam based on the simple fact that people wouldn't be allowing you to profit in this amount when they could just be using their own machinery for this. Cause they do have all the machines already, right? Or so you think.

No one is going to let this happen and even the reputable companies (or so we think) like Genesis Mining go ahead and say once this isn't profitable for us, we'll be stopping service for even the lifetime customers. These businesses are either going to be scams (most) or just looking out for themselves (like they should, they're a business for god sake)

Just let cloud mining die off, it's all a fucking scam.

Revenge posting or may be some random sh*t by some alt account of someone. Newbies post all kind of nonsense these days.
To OP and all the readers: I guess we can say it unanimously that cloud mining is waste of time as well as your money. You may get more returns in gambling than to put it in cloud mining.

Why are you referring to a 5 month old message?

Lol @ this retard scammer

Nice try faggot

Yes, the $960 was including referrals, but he don't have any I guess, so $800 is a very good price.

What other offer?
I think he was selling for $1400 but offered price was below $960 or about that much.
He was offering it at 22% off of what it was worth back when btc price was $1250 but now is $997 last I checked so he would be lucky to get anything above $800 I would imagine.

And you saw the other offer? I guess that seller must be happy when he can get that much as offered.

Just invest your money in different programs mate since cloudmining is not truly profitable right now you can see some feedbacks from this thread and almost majority of people says bad unto them so it's up for you now if you still want to invest at them since im pretty sure that you would regret on your money putted in their. Explore the furom mate so you could see some other platforms that can give us some decent profit rather than thinking of investing on hashflare.

Good timing on my part for stumbling on this thread.

I was just looking into buying an account with them literally just a minute ago.

Now I have some facts to base my answer on to what price would be the right one to buy a similar account for.
Thanks.

Thats the big mistake of people that needed to be correct and theirs nothing in this world that we can earn by just doing nothing, And cloudmining sites are just taking the advantage of those lazy people who wants to earn money easily and thats the reason why they are the one whos been a scam victim on this kind of scheme. And for us to be called miner we should have a hardware for ourself and don't trust anymore those who said they are profitable.

I should say there's no cloud mining still profitable. Look at my 120 usd contract's profit.

http://imgur.com/GEsFfCg

When i get 0.00055313 BTC payment, i'm giving 0.00035458 BTC to SHA-256 maintenance. So i'm basically getting lower than half of my contracts profit.

Its not profitable. Don't buy cloud mining contracts from Hashflare. Or maybe anywhere.

Simple, because they greedy lazy people who want instant money without doing anything or basically they want to mining bitcoin but don't have enough capital to build a farm mining, then run into cloudming which "yeaay i mine bitcoin, have a lot coins in my wallet", really they not considering the difficult mining rate. I'm not forcing people to don't mining bitcoin via anything which real mining. Hashflare, hashnest, genesis have good reputation which might be worth to try than other cloudming, but they also considering the difficult which can reduced to earn ROI, the factor come from the company itself.

Build own mining farm is might be better, but there's also another ways to earn bitcoin, the real one is trading.

If people are still interested in cloud mining as a serious investment option even though all the scam sites that we have seen popping, they seriously don't know what they are putting themselves into.

Even cloud mining sites that were started with legit intentions turn into a scam at the time they notice how unprofitable the service has become.

The block halving was a perfect excuse for these sites to either say that they can't run their business anymore, or they flat out run with people's money and dive into the anonymity that they think will protect them.

People simply should completely ignore this industry and put their focus on other things. There are so many options available, why do they constantly need to come back to cloud mining? I really don't understand this.

Forget cloud mining... Even the best promotion you could get from any company doesn't worth and it's probably a scam and don't trust in ads. Many "anti scams" or many serious bitcoin news websites has scam ads, because it's not controlled by the owners --coindesk and cointelegraph had this "issue". Even not been a problem, many people fall in this abyss of cloud mining --I'm saying "not s problem" because it's your own choice and not a systematic protocol error or something like that. Do, stay away from any cloud mining even if you calculate and recalculate it on alloscomp website. Btw, don't join PacMics plans of Bitmain because the ToS is very clear and your money could be ripped. Ps.: nothing against Bitmaintech or Genesis Mining, for example.

I know where did u get that info from. I m saying I ve been investing into casinos for months, several of them. There s no way to repeat that result, that way one off event. You ll see his average ll keep dropping month after month and he did publish these results only to get more referrals. BS.

Well, I am not the one who came up with this number. This is based on investing experiment of Scott from BitcoinGamblingReviews.
I am no saying that this way is ideal way of investing, so far people who invested in BetKing's bankroll gained substantial profits.
Also it seems some casinos are better and will generate profits while others could bring you loses. But this is certainly better that investing in cloud mining IMO.

In most of the cloud mining sites there will be risk even if they are operating real mining farms or are from trusted real company.
Mining with own mining devices will be completely risk free (if difficulty and hashrate doesn't increase exponentially) and you can also easily switch towards mining other alts if you can get more profit than mining bitcoin.

To optimize electricity cost you can add few more investment and set up solar system to atleast cover 50% of your power requirement. Better to learn lesson from previous cloud mining sites.

I am still convinced that Hashflare is profitable. I disabled auto-reinvest, and let you know in a few months  

yeah, altho there have been a few good cloud mining sites when the dificulty was rather low, like cex.io (had high fees) and hasprofit (the russian one) is where I've actually made some profit over a period of 6+ months. But now, with this high difficulty, I don't know how profitable for them that can be.

Cloud mining websites, or at least most of them, are just virtual numbers that will show up on your display to make you believe that you're earning something. In the end, the withdraw limit either goes up automatically when you reach a certain amount (for example I found an app which changed the withdraw limit from $5 to $15 as soon as I reached $3 in my account) or the website simply closes down with a reason like "the website has been hacked". It's a scam, there are no rigs in reality.

That s pure BS. Profits from casinos cannot come even close to that 43%, this is one off event where a large whale lost 1000 BTC and that s it. How many times per year do you think something like that might happen? What if he won 1k BTC instead?

very well said, I also prefer betting rather than investing on cloud mining services it really feels good to have passive income but it is not going with for a lifetime as we all know that it is actually operated by unknown group with no possible proof of mining farm. So much better to risk on gambling rather than risking on cloud mining.

I agree with you guys that  most cloud mining  are  just total  scams. Same here I don't have trsut  anymore on this kind of investments but  as we all know that hash nest  is  owned by bitmain which is a company do sell off  asic miners  and they would surely not intent to make a scam  with hashnest because if they do so the reputation  of  bitmain would be affected  . FOr OP, mining  on hashnest would really reach you  long  months to achieve ROI. Its  not profitable already.

Yeah, my most precious lesson about cloud mining is that they can turn into a scam in anytime. I used to believe in Hashocean and after they ran away, I lost about 0.1BTC. Keep your head cold, be wise and deeply consider before you start making any investment in Cloud mining

We all know that there is no legit cloudmining. I learned from my mistakes on the past. Just dump it. It is better to gamble rather than invest on cloud mining site that run byy anonymous group of person that you didn't even know if they really have mining farm

Still, Hashflare cloud mining ROI is not even close to profits users can achieve with other types of bitcoin investment methods.
I am talking about casino bankroll investments, they seem to be far more better option: after 3 months you can achieve return of 43% in the best case (BetKing investment)

Reference: http://bitcoingamblingreviews.com/bitcoin-gambling-investments-312/

Well investing on  hashnest  is also good rather than risking to  mine with hardware which you know that  electricity charge is somehow expensive but  i really dont  like cloudmining sites even though they are legit ones, im  not discouraging you  OP just sharing my insights with this. If you are doing  compounding profits to purchase Hash then  Roi would surely lessen  but dont forget on the  mining difficulty  because it would surely affect your  daily income.

Recently I am into mining and compared cloud mining to mining with your own hardware. The best home miner at this moment is the Antminer S9 with his 13 TH/s it will mine approximately Ƀ0.38 a month. However you will have to pay the electricity bill, which is more then $200 a month at my place for this machine (1300 Watt).

I started to use cloud mining via Hashflare. The maintenance fee (Electricity and server management, 0.004 USD per every 10 GH/s of SHA-256) is for 15 TH/s around $186 a month based on my settings and this will mine about Ƀ0.44 a month. (mining calculator: https://alloscomp.com/bitcoin/calculator)

In my Hashflare dashboard I can choose different pools. I look at https://bitcoinchain.com/pools daily to see which pools are best. According to my calculation, my ROI is 10 - 14 months. Compared to my real estate investments, this is very good. (Real Estate buy and rent: approximately 6-8 years ROI)

I will keep my progress posted, so you can determine if mining is maybe something for you.

If you have any questions or suggestions, please let me know.