Hashflare Pricing- What am I missing?

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: atc1-REAL on November 23, 2017, 10:08:42 AM

What did I miss in my calculations?

This reminds me some time ago, I spent a lot of time calculating and did not understand why my gains were much lower every day, it was annoying and I gave up on these cloud mining sites, it was my money and time loss

Quote from: Zocadas on November 23, 2017, 11:17:58 AM

Now they have a ridiculous withdraw minimum, that most of customers will never reach.

was a strategy to steal people

Quote from: Zocadas on November 23, 2017, 11:17:58 AM

I would categorize it as scam.

lately he has done many promotions and this is not a good sign

Zocadas

hero member

Activity: 909

Merit: 508

You missed nothing. Hashflare missed to add all costs to info site, so that customers get trapped. There are not only maintance fees, but also electricity costs, that vary from pool to pool, whyever. In the last months, before Hashflare anounced, shortening lifetime contracts, there was even a ROI of 6 months. But most of the time it was on 22 months. Now they have a ridiculous withdraw minimum, that most of customers will never reach.
So, forget hashflare. I would categorize it as scam.

atc1-REAL

member

Activity: 101

Merit: 10

Alright, so at present, Hashflare is selling 10GH/s at $1.40 for their 1 year contract with a maintenance fee of 0.0035$ per 24h per 10GH/s.

Assume I buy 1 TH/s (100*10 GH/s) at $140. At present I get approximately 0.00018430 BTC per day at that rate.
This 1 TH/s keeps mining for a whole year, so I get 0.00018430*365=0.0672695 BTC by the time my 1 year contract ends which at the present rate is around $550. The maintenance would be $0.0035*100*365=$128 approximately.
So, I end up with $550-$128=$422 for an investment of $140.

Assuming that the price and difficulty remains constant, that's an ROI of 300%! Of course that's impossible. What did I miss in my calculations?

Topic: Hashflare Pricing- What am I missing? (Read 241 times)