Bitcoin Cloud Mining with HashFlare

[Pedro2k2]

I called a friend to invest in hashflare, he put 2 TH / s through my referral link, but I did not receive my 10%, the 2 TH / s went into his account, the purchase was not confirmed on my reference page, I already sent Email has 6 days, still not obvious.

300 $> 2 TH / s - on the day of purchase
10%> 30%

My friend's purchase came in, but it was not computed on my reference page.

Yesterday a friend purchased 1.4th trough my link and i didn't got the 10% from him. Last week he made a test purchase of 1.40$ and i got credited immediatly.
For a 1140$ sale from 2 weeks ago, i got credited almost immediatly to.
Their referalsystem seems to be quite buggy

Yes, exactly, 2 days before, 3 friends bought between $ 6 and $ 14 and was credited at the same time, but when 1 friend bought $ 300 - 2 TH's, it did not appear that the purchase was made nor was it converted into my account. 7 days of waiting after sending a ticket to them and no response yet.

[1714911853]

1714911853

[Breesus]

Hi guys,

Just a quick question.

I know Hashflare charges MAINTENANCE fees, that's not an issue. But if I buy a contract for say, $1000, will I also have to pay POOL fees ?

I can't find any information regarding pool fees (I don't even know what pool Hashflare uses by default).

Thanks for your help guys !

[Pedro2k2]

Hi guys,

Just a quick question.

I know Hashflare charges MAINTENANCE fees, that's not an issue. But if I buy a contract for say, $1000, will I also have to pay POOL fees ?

I can't find any information regarding pool fees (I don't even know what pool Hashflare uses by default).

Thanks for your help guys !

I think you only pay the maintenance fee they say it is 0.0035 for 10 GH / s per day, and if I am not mistaken the pools are:
Antpool
F2Pool
Slush
BTCchina
BW.com

[Breesus]

Alright thanks mate. If someone else could confim that the only fees we're paying are Maintenance fees that'd be awesome.

Also, regarding the pools, where do I have the option of chosing the pool I'd like to join ? I can't find it on my dashboard

[Pedro2k2]

Alright thanks mate. If someone else could confim that the only fees we're paying are Maintenance fees that'd be awesome.

Also, regarding the pools, where do I have the option of chosing the pool I'd like to join ? I can't find it on my dashboard

It depends on what you are mining, if you are mining SHA-256, next to where your hashrate is, there is a square with a circle inside showing which pools are active, click on the gear and put the pools you want, remembering that they can only be changed once a day

[pivix]

Alright thanks mate. If someone else could confim that the only fees we're paying are Maintenance fees that'd be awesome.

Also, regarding the pools, where do I have the option of chosing the pool I'd like to join ? I can't find it on my dashboard

Pool fees are paid before the pool pays hashflare, so from the amount you see you only take off the maintenance fees (0.35$ /th) and you get your netto amount.

[Breesus]

Alright thanks mate. If someone else could confim that the only fees we're paying are Maintenance fees that'd be awesome.

Also, regarding the pools, where do I have the option of chosing the pool I'd like to join ? I can't find it on my dashboard

Pool fees are paid before the pool pays hashflare, so from the amount you see you only take off the maintenance fees (0.35$ /th) and you get your netto amount.

Right so how can I exactly calculate my expected ROI using a website like https://www.coinwarz.com/calculators/bitcoin-mining-calculator/ ? Is there a way to find out how much the pool fees are before actually buying some hashpower on Hashflare ?

Also, regarding the maintenance fees. Say I buy 7TH/s of Sha-256 for $1050. With the maintenance fees being $0.0035/GH (which in turn is $3.5/TH), am I correct assuming that the only maintenance fees for the whole duration of the contract (1year) will be 3.5*7 = $24.5.

[pivix]

Alright thanks mate. If someone else could confim that the only fees we're paying are Maintenance fees that'd be awesome.

Also, regarding the pools, where do I have the option of chosing the pool I'd like to join ? I can't find it on my dashboard

Pool fees are paid before the pool pays hashflare, so from the amount you see you only take off the maintenance fees (0.35$ /th) and you get your netto amount.

Right so how can I exactly calculate my expected ROI using a website like https://www.coinwarz.com/calculators/bitcoin-mining-calculator/ ? Is there a way to find out how much the pool fees are before actually buying some hashpower on Hashflare ?

Also, regarding the maintenance fees. Say I buy 7TH/s of Sha-256 for $1050. With the maintenance fees being $0.0035/GH (which in turn is $3.5/TH), am I correct assuming that the only maintenance fees for the whole duration of the contract (1year) will be 3.5*7 = $24.5.

Here you have a list with pool comparisions and fees. https://en.bitcoin.it/wiki/Comparison_of_mining_pools
But i'm not so sure if it's up to date. it would be best if you check on the pool's sites cause sometimes they change fees.

the fee is actually 0.35$ / terahash / day. so for 7 th/s you would pay 2.45$ in maintenance fees per day.

[Breesus]

Alright thanks mate. If someone else could confim that the only fees we're paying are Maintenance fees that'd be awesome.

Also, regarding the pools, where do I have the option of chosing the pool I'd like to join ? I can't find it on my dashboard

Pool fees are paid before the pool pays hashflare, so from the amount you see you only take off the maintenance fees (0.35$ /th) and you get your netto amount.

Right so how can I exactly calculate my expected ROI using a website like https://www.coinwarz.com/calculators/bitcoin-mining-calculator/ ? Is there a way to find out how much the pool fees are before actually buying some hashpower on Hashflare ?

Also, regarding the maintenance fees. Say I buy 7TH/s of Sha-256 for $1050. With the maintenance fees being $0.0035/GH (which in turn is $3.5/TH), am I correct assuming that the only maintenance fees for the whole duration of the contract (1year) will be 3.5*7 = $24.5.

Here you have a list with pool comparisions and fees. https://en.bitcoin.it/wiki/Comparison_of_mining_pools
But i'm not so sure if it's up to date. it would be best if you check on the pool's sites cause sometimes they change fees.

the fee is actually 0.35$ / terahash / day. so for 7 th/s you would pay 2.45$ in maintenance fees per day.

Thanks, appreciate the help. That changes the equation quite a lot!

Back to my 7H/s, $1050 for 1 year contract.

Only fees I could find on the website were the slush ones, which are 2%

Using the calculator here https://www.coinwarz.com/calculators/bitcoin-mining-calculator with 0.02 in mining fees and $1000 (contract value) + 0.35*7*365 ($894.25) = $1894.25 in hardware cost, we can see that the profits over a year is $4786.37 with around 145days needed to break even.

Is it correct ?

edit: Damn, forgot to remove the electricity cost. Without the electricity costs the profits over a year is $7063 with 98days needed to break even !

[f4]

Assuming the mining-diffculty won't change over the next 12 months you might be correct.
But with a 10-20% difficulty increase every two weeks, it's hard to say if you will break even at all in the whole 12 months.

[911tt]

How about payouts? I mean real payouts, not balance on their website? Purchased yesterday 5th, sent with bitcoin, everything fast and rolling, but i have heard now from local guys, that they dont pay.

Any experience with this?

[bitdeep]

Assuming the mining-diffculty won't change over the next 12 months you might be correct.
But with a 10-20% difficulty increase every two weeks, it's hard to say if you will break even at all in the whole 12 months.

Looking at the level of difficulty here https://bitcoinwisdom.com/bitcoin/difficulty, by the way, our profits will be eaten in 6 months by the increased difficulty.

[badger88]

Assuming the mining-diffculty won't change over the next 12 months you might be correct.
But with a 10-20% difficulty increase every two weeks, it's hard to say if you will break even at all in the whole 12 months.

Looking at the level of difficulty here https://bitcoinwisdom.com/bitcoin/difficulty, by the way, our profits will be eaten in 6 months by the increased difficulty.

speculative ... did you see how the next change in diff is -15% ?




is there any page that shows the stats of hashflare users ?

[bitdeep]

I made a quick count, from the middle of the year to here, we had a 106% increase in difficulty.

And, what kind of statistics are you talking about?

[badger88]

And, what kind of statistics are you talking about?

On many pool mining sites -you can view who is contributing the most hash power in a list (many could put users as anonymous) but idk it would be cool to see total 'sold / active hash rate' by users.

[f4]

Assuming the mining-diffculty won't change over the next 12 months you might be correct.
But with a 10-20% difficulty increase every two weeks, it's hard to say if you will break even at all in the whole 12 months.

Looking at the level of difficulty here https://bitcoinwisdom.com/bitcoin/difficulty, by the way, our profits will be eaten in 6 months by the increased difficulty.

speculative ... did you see how the next change in diff is -15% ?

Bitcoinwisedom is a great site, as it has been around almost forever, but their statistics are misleading, as they show the average of the last 504 blocks in hashrate, blockgeneration time etc. their difficulty estimate always turns out to be totatally wrong.

To see the current hashrate you should visit

https://blockchain.info/de/charts/hash-rate

or

https://fork.lol/pow/hashrate


The difficulty increase over the last year was around 500%, if the difficulty always goes up +13% for the next ~25 changes in the following 12 months thats +1600% overall and even in this case hashflare investors would break even.
But at the moment difficulty is increasing way more than that, with 18% on the last change and an estimate of +23% for the next one.

https://fork.lol/pow/retarget

So it's pretty clear no one will make a ROI with hashflare if the price of Bitcoin doesnt drop dramatically.

[Steffoboy]

Assuming the mining-diffculty won't change over the next 12 months you might be correct.
But with a 10-20% difficulty increase every two weeks, it's hard to say if you will break even at all in the whole 12 months.

Looking at the level of difficulty here https://bitcoinwisdom.com/bitcoin/difficulty, by the way, our profits will be eaten in 6 months by the increased difficulty.

Thats only true at a price level that stays the same, so when bitcoin went from 1,9k dollars to 15k dollars, profitability rose from  1,2 usd per Th to 2,65 Usd per TH. (before fees) Also someone is fucking with the difficulty mechanism, Th power is added when difficulty is about to go down, and then retracted after it went up, last change block time was 14 minutes almost, when the difficulty change was due, the block time was only 10 minutes, so hence difficulty increased instead of decreased,

im sure its the Chinese over at bitcoin cash flipping their mi8ning power to try to fuck bitcoin up, the difficulty is set to DROP 16.49% right now, since block time is 13.7 but im sure we will see block time fall to 10 minutes again and instead it goes up. Cant go on like that forever, since more and more hash is added, but the drawback is that the same people running Bitcoin Cash has the production of the Antminer equipment.

[Steffoboy]

So it's pretty clear no one will make a ROI with hashflare if the price of Bitcoin doesnt drop dramatically.

Totally wrong, if bitcoin price goes down, profitability goes down with it, since u get lesser for every piece of bitcoin you mine, its the difficulty that has to go down, which is not likely to happen since they screw with the mechanism, see my earlier post.

Mining is not affected by the current price in no way shape or form, its the hashpower in the system and the block time that is the mechanism, it adjusts so the block time should stay at 600 seconds at any given hashrate, nothing to do with the price.

Bitcoin Difficulty:    1,590,896,927,258
Estimated Next Difficulty:    1,328,621,131,354 (-16.49%)

https://bitcoinwisdom.com/bitcoin/difficulty

Difficulty History
Date    Difficulty    Change    Hash Rate
Dec 06 2017    1,590,896,927,258    18.11%    11,388,083,790 GH/s
Nov 24 2017    1,347,001,430,559    -1.28%    9,642,211,820 GH/s
Nov 10 2017    1,364,422,081,125    -6.09%    9,766,913,694 GH/s
Oct 26 2017    1,452,839,779,146    21.39%    10,399,832,230 GH/s
Oct 15 2017    1,196,792,694,099    6.49%    8,566,975,802 GH/s
Oct 02 2017    1,123,863,285,133    1.85%    8,044,926,758 GH/s
Sep 18 2017    1,103,400,932,964    19.58%    7,898,451,536 GH/s
Sep 06 2017    922,724,699,726    3.89%    6,605,120,681 GH/s
Aug 24 2017    888,171,856,257    -3.80%    6,357,781,793 GH/s
Aug 09 2017    923,233,068,449    7.32%    6,608,759,726 GH/s
Jul 27 2017    860,221,984,436    6.92%    6,157,708,817 GH/s
Jul 14 2017    804,525,194,568    13.53%    5,759,015,666 GH/s
Jul 02 2017    708,659,466,230    -0.43%    5,072,782,052 GH/s
Jun 17 2017    711,697,198,174    4.85%    5,094,526,985 GH/s
Jun 04 2017    678,760,110,083    13.90%    4,858,754,124 GH/s
May 23 2017    595,921,917,085    6.42%    4,265,775,241 GH/s
May 10 2017    559,970,892,891    7.28%    4,008,427,786 GH/s
Apr 27 2017    521,974,519,554    0.22%    3,736,439,151 GH/s
Apr 13 2017    520,808,749,422    4.24%    3,728,094,244 GH/s
Mar 30 2017    499,635,929,817    5.03%    3,576,533,297 GH/s
Mar 17 2017    475,705,205,062    3.24%    3,405,230,497 GH/s
Mar 03 2017    460,769,358,091    4.54%    3,298,315,540 GH/s
Feb 18 2017    440,779,902,287    4.41%    3,155,225,442 GH/s
Feb 04 2017    422,170,566,884    7.43%    3,022,014,630 GH/s
Jan 22 2017    392,963,262,344    16.64%    2,812,940,600 GH/s
Jan 10 2017    336,899,932,796    6.05%    2,411,623,656 GH/s
Dec 28 2016    317,688,400,354    2.43%    2,274,102,150 GH/s
Dec 15 2016    310,153,855,703    8.16%    2,220,167,778 GH/s
Dec 02 2016    286,765,766,821    1.76%    2,052,749,317 GH/s
Nov 18 2016    281,800,917,193    10.68%    2,017,209,539 GH/s
Nov 05 2016    254,620,187,304    0.40%    1,822,642,296 GH/s
Oct 22 2016    253,618,246,641    -1.90%    1,815,470,125 GH/s
Oct 08 2016    258,522,748,405    7.17%    1,850,577,916 GH/s
Sep 25 2016    241,227,200,230    6.82%    1,726,771,560 GH/s
Sep 12 2016    225,832,872,179    2.30%    1,616,574,667 GH/s
Aug 29 2016    220,755,908,330    1.56%    1,580,232,344 GH/s
Aug 15 2016    217,375,482,757    7.67%    1,556,034,316 GH/s
Aug 02 2016    201,893,210,853    -5.43%    1,445,207,896 GH/s
Jul 18 2016    213,492,501,108    0.04%    1,528,238,850 GH/s
Jul 04 2016    213,398,925,331    1.88%    1,527,569,009 GH/s
Jun 21 2016    209,453,158,595    6.83%    1,499,324,110 GH/s
Jun 08 2016    196,061,423,940    -1.63%    1,403,462,340 GH/s
May 24 2016    199,312,067,531    2.60%    1,426,731,353 GH/s
May 11 2016    194,254,820,283    8.73%    1,390,530,167 GH/s
Apr 28 2016    178,659,257,773    -0.01%    1,278,892,782 GH/s
Apr 14 2016    178,678,307,672    7.09%    1,279,029,147 GH/s
Apr 01 2016    166,851,513,283    0.82%    1,194,369,655 GH/s
Mar 18 2016    165,496,835,118    4.46%    1,184,672,491 GH/s
Mar 04 2016    158,427,203,767    -3.10%    1,134,066,098 GH/s

[f4]

Mining is not affected by the current price in no way shape or form

The correlation of the Bitcoinprice and the Mining-Difficulty is one of the most obvious things, that has been there for the past 8 years, for very simple reasons.
If you dont understand that inform yourself, I really dont want to discuss that or explain the most basic things to you.

[Steffoboy]

Mining is not affected by the current price in no way shape or form

The correlation of the Bitcoinprice and the Mining-Difficulty is one of the most obvious things, that has been there for the past 8 years.
If you dont understand that inform yourself, I really dont want to discuss that or explain the most basic things to you.

Your blind dude, bitcoin went from 1600 Usd in May this year and went to the current 16500, in that time difficulty has risen 300% price 10 times so net probability is up, not down, and NO Difficulty has nothing to do with price, dont spread you fail understanding, go read some Bitcoin ABC,

Explain it like I’m Five – Bitcoin Mining Difficulty Level

"The Bitcoin network varies its difficulty levels after the discovery of every 2016 blocks to ensure a constant output. If the network hash rate is high and the time taken to discover a new block is less than 10 minutes, then the network will increase the difficulty level proportionately to increase the block discovery time. If the block discovery time is more than 10 minutes, then the same protocol will reduce the difficulty level."

http://www.newsbtc.com/2016/04/17/bitcoin-difficulty-level/

Hint = 10 minutes = 600 Seconds