Bitcoin Forum

Has anyone tried HashFlare (https://hashflare.io) ?
I want to know if i should invest in it...

I don't know much about Hashflare specifically, but most cloud mining sites are scams, and the rest are generally money-losers. Overall, the business model doesn't make much sense. Why rent out mining equipment for less than it mines, when you can keep all it mines instead?

I would be very wary of cloud mining... seems like it's not worth it at all, and could even be a scam. If you want to do cloud mining, just rent an amazon server and run mining software on it. You can have as much or little processing power as you need and cut out the middle man.

Idk how effective of an option that is because I've never tried it but I don't see why that wouldn't be way better than paying a service that does cloud mining.

The only bitcoin cloud mining that is legitimate and also pays you fairly is ViaBTC (https://www.viabtc.com/contract/). They charge 13.58% for electric power and a 6% management fee. That means for each daily bitcoin payout you get 80% they keep 20% for overhead. The other players Hashnest, pool.bitcoin.com, Giga-watt and Genesis Mining charge higher fees. ViaBTC is sold out now but they should restock as soon as more miners are delivered. They use S9 only from Bitmain. You can cut the overhead some if you buy miners from SinoHash (https://bitcointalk.org/index.php?topic=1694162.0) and have them hosted at their colocation center in China, but they have a minimum order of ten miners. You also then have to worry about downtime and maintenance

Legit or not, it's not profitable to invest on cloudmining sites today. You have to purchase tons of hashpower and that will cost you a lot. Plus the fees which your earnings there can't be covered. If you think BTC1 investment in that kind of system is profitable in the long then you are wrong. Return of investment is horrible and after reaching that phase, it's not worth the time you spend.

Better find another way to earn bitcoin. I will disregard the scam thing but Cloudmining is not welcome anymore in the community due to mining difficulty and rewards.

Its a kind of cloudmining sites where most of the time they are ponzi scheme. And I don't know if there still legit cloud mining site
at this point of time, but much better for you not try to invest it.

I've heard about the hasflare of friends. They are investing in the cloudmining. And they get paid. According to their investment.

Here is proof of withdraw from hashflare

https://i.imgur.com/487Ig8D.png (https://hashflare.io/r/E649745)


As long as i used hashflare, i never get a problem. And now my account still active and generating profit  :D :D
Here is link if you wanna use my refferal code Hashflare (https://hashflare.io/r/E649745)

Once again, invest money that you can afford to lose

Legit cloud mining site for now , will pay you , not sure you will return your investment even in 1 year , but if you're just looking to invest to see how it goes , I suggest you invest in a very small way and make your conclusions after.
Though I think everyone will agree that cloud mining is not profitable.

The cloudmining will never be returning your ROI. and it will never give you profit through using his service. In another case, it will be a bit different if you are investing on the hashflare and try to mining the coin such as ethereum and it gets a pump in the future and you will get a lot of benefits. Remember the cloud mining site is full with speculation. It's not good for using it right now. Build your own rig will better.

I do not know about the site but i know one things if we investing in cloud mining we will not get a profits.

@fikihafana

You getting paid doesn't mean anything. More important is that you share how much you invested before that, and at what conditions. That will help explaining your situation more accurately.

People at first get paid without any problems, and this can continue for basically months without any problems. Only thing is that the further away you are, the more obvious it will be for you that you'll likely never roi.