Bitcoin Cloud Mining with HashFlare

[kalpit]

Ah ok then. Thanks for clearing that up. I must admit that i wasnt 100% on that and i hold my hands up.
If hashcoins can get a 14nm asic on the market then great, rebadged or not!
The bottom line is, is it a scam?
I can't answer that question 100%
I evaluated the risks and took my chances and very happy so far.
As someone who followed butterfly labs and lost money then hashflare doesnt compare.

You're welcome  

And yeah, if Hashflare is legit or not, still remains kinda vague; personally, I do believe that they mine something (the alts), yet regarding the SHA256 I have some very serious doubts, since everything related to the SHA256 they claim to mine is just plain off and doesn't add up in any way. And since their SHA256 (what looks like) to be the biggest part of their operation, I do not have them labeled as being 'legit' in my own list;
Ah well, the future will tell best I guess  

I too doubt if it is legit. But, Hashflare sponsered Keiv conference. This increase the chances of it legit.

Well, future will never tell if it is legit. As long as this runs everyone would doubt it's authenticity . Future can only tell if it was not legit.

I'm keeping my fingers crossed. I expect ROI before hashflare goes down. I haven't withdrawed any btc from hashflare till now. Been reinvesting all my earnings 6 months.

[JessicaG]

What doesnt add up? If its mining speed then with modern asics its easily achievable.

Of course treat  everything with suspicion!

However, I read the threads before investing on btctalk. I tend not to believe everything i read ESPECIALLY on here.

Its FUD central

Yeah, I most certainly agree Bitcointalk ain't no more what it used to be  

Regarding what doesn't add up in relation to the SHA256 hashes, well, for instance, the SHA256 hashes are provably fake; kindly read back some of my posts on this regarding;

In addition, there's also the halving: When the halving occurred, Hashflare reported to have placed "new and more energy efficient equipment" spot on; not a day before, nor a day after, but right the day it occurred (!, red flag 1). And (!, red flag 2), they also stated that day that they had been working/anticipating this "for months". If you have been with Hashflare before the halving, you probably know what I am referring to; if not, well, that's what came to pass;
Now (!, red flag 3 (lengthy one)), Hashflare doesn't nor didn't produced any kind of ASIC's. So, that means that the period Hashflare referred to ("for months"), effectively would mean that their "new and more energy efficient equipment" could only be (1) 'external' equipment, and (2) only be equipment more efficient than Alcheminers; when looking at the time period after 'the Alcheminers', only 3 options were (worldwide) available: Bitmaintech (their S5's and/or S7's Antminers), BW (bw.com), and Spondoolies (their SP50). BW never produced any ASIC's either, yet instead they used and are using the chips to generate the hashes. Since the chips's BW's were and are using never were or are available for the public, rules them out of being a 'candidate'. Spondoolies SP20's weren't available anymore and their SP50's turned out to be vaporware, so this rules/ruled them out to. So, those "new and more energy efficient equipment" could only be either Antminers S5's, S7's, or a combination of both; and here's why, regarding the SHA256, my red flag number 3: Hashflare had been 'preparing' and 'installing' and 'anticipating' with them "new and more energy efficient equipment", "for months"; and they did that, going in effective, spot on (!), the day the actual halving occurred? I mean, whuuut They supposedly had BETTER equipment which they had been PREPARING and INSTALLING them for for MONTHS (<== !!!), and they switched THE WHOLE BUNCH 'on' only and ONLY on the DAY THE HALVING ACTUAL OCCURED     Sure, honesty requires that the whole latter could be an option; yet, like you said, "treat everything with suspicion", is why I stated why it simply (as for me, and in answer to your question AND only regarding the SHA256 hashes) doesn't add up  

[Mbah Slamet]

Dear Hashflare,

As my experiece bought ETH cloud mining, about 8 months ago I was bought 6 MH/s for etherium package and why until now is not yet for RoI (about 75% for RoI). I don't know, because when I bought etherium the price etherium about $9 and now more than $12. I hope my money can back again not more 2 months and 2 months is my profit.

Thanks very much,

[metamorphin]

What doesnt add up? If its mining speed then with modern asics its easily achievable.

Of course treat  everything with suspicion!

However, I read the threads before investing on btctalk. I tend not to believe everything i read ESPECIALLY on here.

Its FUD central

Yeah, I most certainly agree Bitcointalk ain't no more what it used to be  

Regarding what doesn't add up in relation to the SHA256 hashes, well, for instance, the SHA256 hashes are provably fake; kindly read back some of my posts on this regarding;

In addition, there's also the halving: When the halving occurred, Hashflare reported to have placed "new and more energy efficient equipment" spot on; not a day before, nor a day after, but right the day it occurred (!, red flag 1). And (!, red flag 2), they also stated that day that they had been working/anticipating this "for months". If you have been with Hashflare before the halving, you probably know what I am referring to; if not, well, that's what came to pass;
Now (!, red flag 3 (lengthy one)), Hashflare doesn't nor didn't produced any kind of ASIC's. So, that means that the period Hashflare referred to ("for months"), effectively would mean that their "new and more energy efficient equipment" could only be (1) 'external' equipment, and (2) only be equipment more efficient than Alcheminers; when looking at the time period after 'the Alcheminers', only 3 options were (worldwide) available: Bitmaintech (their S5's and/or S7's Antminers), BW (bw.com), and Spondoolies (their SP50). BW never produced any ASIC's either, yet instead they used and are using the chips to generate the hashes. Since the chips's BW's were and are using never were or are available for the public, rules them out of being a 'candidate'. Spondoolies SP20's weren't available anymore and their SP50's turned out to be vaporware, so this rules/ruled them out to. So, those "new and more energy efficient equipment" could only be either Antminers S5's, S7's, or a combination of both; and here's why, regarding the SHA256, my red flag number 3: Hashflare had been 'preparing' and 'installing' and 'anticipating' with them "new and more energy efficient equipment", "for months"; and they did that, going in effective, spot on (!), the day the actual halving occurred? I mean, whuuut They supposedly had BETTER equipment which they had been PREPARING and INSTALLING them for for MONTHS (<== !!!), and they switched THE WHOLE BUNCH 'on' only and ONLY on the DAY THE HALVING ACTUAL OCCURED     Sure, honesty requires that the whole latter could be an option; yet, like you said, "treat everything with suspicion", is why I stated why it simply (as for me, and in answer to your question AND only regarding the SHA256 hashes) doesn't add up  

I am very impressed, how you try since months to convince us from your colourful flags!  ,

keep it easy. After ROI from really many users here, everything is fun. Dont destroy our big dreams to dont go working for money.

Greetz
Steve

[crazyivan]

What doesnt add up? If its mining speed then with modern asics its easily achievable.

Of course treat  everything with suspicion!

However, I read the threads before investing on btctalk. I tend not to believe everything i read ESPECIALLY on here.

Its FUD central

Yeah, I most certainly agree Bitcointalk ain't no more what it used to be  

Regarding what doesn't add up in relation to the SHA256 hashes, well, for instance, the SHA256 hashes are provably fake; kindly read back some of my posts on this regarding;

In addition, there's also the halving: When the halving occurred, Hashflare reported to have placed "new and more energy efficient equipment" spot on; not a day before, nor a day after, but right the day it occurred (!, red flag 1). And (!, red flag 2), they also stated that day that they had been working/anticipating this "for months". If you have been with Hashflare before the halving, you probably know what I am referring to; if not, well, that's what came to pass;
Now (!, red flag 3 (lengthy one)), Hashflare doesn't nor didn't produced any kind of ASIC's. So, that means that the period Hashflare referred to ("for months"), effectively would mean that their "new and more energy efficient equipment" could only be (1) 'external' equipment, and (2) only be equipment more efficient than Alcheminers; when looking at the time period after 'the Alcheminers', only 3 options were (worldwide) available: Bitmaintech (their S5's and/or S7's Antminers), BW (bw.com), and Spondoolies (their SP50). BW never produced any ASIC's either, yet instead they used and are using the chips to generate the hashes. Since the chips's BW's were and are using never were or are available for the public, rules them out of being a 'candidate'. Spondoolies SP20's weren't available anymore and their SP50's turned out to be vaporware, so this rules/ruled them out to. So, those "new and more energy efficient equipment" could only be either Antminers S5's, S7's, or a combination of both; and here's why, regarding the SHA256, my red flag number 3: Hashflare had been 'preparing' and 'installing' and 'anticipating' with them "new and more energy efficient equipment", "for months"; and they did that, going in effective, spot on (!), the day the actual halving occurred? I mean, whuuut They supposedly had BETTER equipment which they had been PREPARING and INSTALLING them for for MONTHS (<== !!!), and they switched THE WHOLE BUNCH 'on' only and ONLY on the DAY THE HALVING ACTUAL OCCURED     Sure, honesty requires that the whole latter could be an option; yet, like you said, "treat everything with suspicion", is why I stated why it simply (as for me, and in answer to your question AND only regarding the SHA256 hashes) doesn't add up  

I am very impressed, how you try since months to convince us from your colourful flags!  ,

keep it easy. After ROI from really many users here, everything is fun. Dont destroy our big dreams to dont go working for money.

Greetz
Steve

Haha, a good one. Yes, I ve ROIed + 2 months now. No issues at all besides LTC price going down which eats into my profits. Litecoin, stop this shit.

[Roquene]

I have to agree that Hashcoins / Hashflare started with a somewhat shady business.
But have improved greatly since.

Can only report positive about Hashflare so far.
Started with a very small hashrate and later bought a huge chunk from an other user for a nice discount.

Hashflare transfered the power to my account after the seller confirmed the payment.
A nice service and no risk of getting scammed. Like it.

Meanwhile ROI'd several times.

Can not say if there is 'real' hardware mining or if it's all just a big bubble. Tried to confirm it with switching pools and watching their hashrate, but there is to much fluctuation and i don't know when exactly they switch. (guess all 24 hours).

But let's say it that way:
There are a lot of pictures from the Hashflare Team. Including several from Bitcoin-Conferences over the last year.
So it's absolut possible to meet them in person. Which is imho a very good sign.

Plus, just found this:
https://www.youtube.com/watch?v=OFx4oI3eZ4E

Looks like this is the Ethereum Mining Datacenter. Can someone translate?

So for now i can say: Yes, i trust them. But of course only with money i can afford to lose.
As usual, be carefull.

Edit:
there are also multiple Webinar videos showing mining hardware.
I have not looked at all and can not estimate whether there is actually real hardware to see.
But see yourself on youtube "Hashflare webinar"

[JessicaG]

I am very impressed, how you try since months to convince us from your colourful flags!  ,

keep it easy. After ROI from really many users here, everything is fun. Dont destroy our big dreams to dont go working for money.

Greetz
Steve

Check. 

No worry Steve, I'm not 'against' Hashflare or something, nor do I want to 'convince' anyone. It's just sometimes when things come up regarding Hashflare being legit and/or a real cloud company, well, they simply aren't; at least not for a full 100%. Those SHA256 hashes are provably fake as I pointed out, and I really mean it when I say I'd love to see someone proving me to be wrong on that one. It's just when I see someone saying Hashflare is legit and on my part seems 100% convinced on that, I sometimes reply back with a "no, they are not". There simply ARE some flags surrounding Hashflare, I think it's fairly safe to state that; I'd really wish Hashfalre would be more transparent and verifiable, yet on the latter they simply aren't. I'm not saying Hashflare is a scam, but you won't hear me say they are legit either. I've been around for some time with Bitcoins, and seen so many people drawing in even more other people, because they believed 'their' program was 100% legit. And Hashflare, simply ain't a one that I account for being that full 100% 

Other than my rants regarding those SHA256 hashes and my colorful flags, I have my fun with Hashflare. I too have ROI'd a few months ago, roughly 2 months before crazyivan did, so I'm quite happy with Hashflare. And till date, I still keep on investing in Hashflare; and, this might seem a bit awkward regarding my comments, but what I invest, I do it in them SHA256 hashes 

[mrcincin]

Hi, I'm new here. Just need some favor from you guys. I want to do some calculation here, for 100MH/s scrypt mining, at this moment, how much btc can i get for daily basis? Please help. Then, is it scrypt more stable than sha256? Thank You.

[kalpit]

Hi, I'm new here. Just need some favor from you guys. I want to do some calculation here, for 100MH/s scrypt mining, at this moment, how much btc can i get for daily basis? Please help. Then, is it scrypt more stable than sha256? Thank You.

For 100 mhs you get 0.003728 btc daily after deducting maintenance costs
(Based on current payouts)

Sha payouts are volatile due to the increasing difficulty.
And, Scrypt payouts are volatile due to fluctuations in btc / ltc exchange rate.
Overall, scrypt seems to be more stable

[JessicaG]

Hi, I'm new here. Just need some favor from you guys. I want to do some calculation here, for 100MH/s scrypt mining, at this moment, how much btc can i get for daily basis? Please help. Then, is it scrypt more stable than sha256? Thank You.

Currently, 100 Mh/s scrypt would yield roughly around ~0.004 BTC per day, net (so maintenance and electricity fees and such already deducted).

If the scrypt algorithm is more, or less, stable than then others I cannot say; I had been tracking my scrypt results, but not the others. Perhaps someone else could fill in on this.
Regarding scrypt, here's my stats for this year (I have 300 Mh/s): Begin this year, I was averaging over 0.015 BTC net each day. Nowadays, it is netting me ~0.011 - 0.012 each day.

[mrcincin]

Hi, I'm new here. Just need some favor from you guys. I want to do some calculation here, for 100MH/s scrypt mining, at this moment, how much btc can i get for daily basis? Please help. Then, is it scrypt more stable than sha256? Thank You.

For 100 mhs you get 0.003728 btc daily after deducting maintenance costs
(Based on current payouts)

Sha payouts are volatile due to the increasing difficulty.
And, Scrypt payouts are volatile due to fluctuations in btc / ltc exchange rate.
Overall, scrypt seems to be more stable

Thanks bro. So the ROI should be around 10 months right? If I set to reinvest automatically, the ROI should be earlier. Is this true?

[kalpit]

Hi, I'm new here. Just need some favor from you guys. I want to do some calculation here, for 100MH/s scrypt mining, at this moment, how much btc can i get for daily basis? Please help. Then, is it scrypt more stable than sha256? Thank You.

For 100 mhs you get 0.003728 btc daily after deducting maintenance costs
(Based on current payouts)

Sha payouts are volatile due to the increasing difficulty.
And, Scrypt payouts are volatile due to fluctuations in btc / ltc exchange rate.
Overall, scrypt seems to be more stable

Thanks bro. So the ROI should be around 10 months right? If I set to reinvest automatically, the ROI should be earlier. Is this true?

No, if you purchase right now, you get roi  in 12 months (considering current situation).
But, there are some factors that  should also be considered like currently btc rate is high, it will soon decrease. I only make purchases on Hashflare when I see a discount of 10-20 percent.

If you consider these two things, you can expect roi  9-10 months.

No, don't automatic reinvest. With reinvest option you will not be able to catch the discounts.

Wait, I'll post here best strategy (till when to reinvest) in a day or two.
Note: I would write a program which will do that, just to practice coding and help others and myself too.

[kalpit]

Hi, I'm new here. Just need some favor from you guys. I want to do some calculation here, for 100MH/s scrypt mining, at this moment, how much btc can i get for daily basis? Please help. Then, is it scrypt more stable than sha256? Thank You.

For 100 mhs you get 0.003728 btc daily after deducting maintenance costs
(Based on current payouts)

Sha payouts are volatile due to the increasing difficulty.
And, Scrypt payouts are volatile due to fluctuations in btc / ltc exchange rate.
Overall, scrypt seems to be more stable

Thanks bro. So the ROI should be around 10 months right? If I set to reinvest automatically, the ROI should be earlier. Is this true?

It was very easy to code that. It took only 20 minutes.

According to current situations, for 100 mhs, do not reinvest if you want roi in minimum time. That is would take 375 days to achieve roi.


Now, if your goal is not about achieving roi ,
Suppose you buy 100 mhs today and have decided that you will withdraw your funds 2 years later.
So till which date to reinvest? It means you have to maximize your earnings in a fixed period .

If you do not reinvest at all you get
2.72144 btc


If you reinvest till day 354(calculated using my program) , you get 3.58196 btc

So this is the difference my coffee could make , we can come to know the best strategy for our investment.

note: the day till you have to to get maximum returns depends  the purchased  mhs.
All these calculations, done on current difficulty, maintenance fees, exchange rates.

[crazyivan]

Scrypt s the best possible option for now but make sure you do understand LTC price and mining difficulty WILL not stay the same for these 10 months. So they might turn into 16 months. Anyway, there re risks.

That being said, I ve ROIed a couple months ago from this contract and if you do search for a larger purchase of scrypt contracts, I might sell some of my hash with 15% discount.

If anyone is interested PM me.

[Roquene]

Looks like the zCash/equihash contracts are totaly worthless at current price.

0.1 H/s for $3.20 bring only $0.11 per Month according to some calculators.
So no chance to ROI in 12 Months with that.

The zcash price needs to at least double. I keep my fingers crossed.

[kalpit]

Looks like the zCash/equihash contracts are totaly worthless at current price.

0.1 H/s for $3.20 bring only $0.11 per Month according to some calculators.
So no chance to ROI in 12 Months with that.

The zcash price needs to at least double. I keep my fingers crossed.

Maybe, you can try genesis mining. They have cheaper zcash mining contacts than Hash flare.

I think the profit will eventually decrease further. Zcash price is falling. I would advice you to stay away from it now.

Due to Bitcoin's sudden rise, profits for both sha and scrypt fell drastically in time. There has been about 20 % decrease in profits in mining contracts.
As Bitcoin price grew, difficulty increased so less mining profits for sha. And meanwhile ltc/btc rate fell so lesser Bitcoin for scrypt.
Profits in scrypt and sha will grow up once again but i don't think there be any improvement in zcash.

[Roquene]

Hasn't the block reward hit its maximum yet?

You are right. I forgot about the slow start. Last block reward was around 9.5.
The max should be 12.5. So yea, there is still room for improvement.

How much hashrate did you buy?

Only some H/s. I've burnt my fingers too often in the beginning.
First see how this develops over the next months.

Maybe, you can try genesis mining. They have cheaper zcash mining contacts than Hash flare.

Genesis is dead for me. My contract was deactivated after not quite 10 months because unprofitabel.
Never achieved ROI. And many others are the same.

In my opinion, Genesis is rip off.

[BTCSpearo]

I'm really conflicted on these mining contracts and their premise, maybe someone can give me some pointers.

I bought a contract for 30 TH/s with Hashflare and about 60% of my daily profits go towards electricity and fees, at that rate and with the amount of daily BTC mined it will take me about 400 days to earn back my principal, assuming their is no change to the bitcoin price and the algorithms difficulty. Those are two pretty big assumptions, in fact it seems the difficulty of the BTC algorithm increased 600% last year alone and therefore the idea that I would earn my principal back in a timely manner goes right out the window. So...are these worthless contracts meant to bide hashflare time in a technological arms race, or is there a chance that miners will be forced to dropout because of financing these contract schemes garner to the bigger miners thus decreasing the difficulty of the algorithm and in turn making my mining more profitable. Or is it possible that mining contracts are sold on the presumption that BTC will jump in value significantly more than the difficulty increases and the percentage of fees paid will drop substantially so that I can receive some ROI? 

I definitely should have done some better due dilligence on this stuff, but hey I had money to gamble, and my gamble pretty much amounted to Hashflare is legit and isn't selling worthless contracts.

Now can somebody please explain to me how miners make any money when the BTC algorithm seems to increase several multiples a year? This newb will appreciate it.

[crazyivan]

I'm really conflicted on these mining contracts and their premise, maybe someone can give me some pointers.

I bought a contract for 30 TH/s with Hashflare and about 60% of my daily profits go towards electricity and fees, at that rate and with the amount of daily BTC mined it will take me about 400 days to earn back my principal, assuming their is no change to the bitcoin price and the algorithms difficulty. Those are two pretty big assumptions, in fact it seems the difficulty of the BTC algorithm increased 600% last year alone and therefore the idea that I would earn my principal back in a timely manner goes right out the window. So...are these worthless contracts meant to bide hashflare time in a technological arms race, or is there a chance that miners will be forced to dropout because of financing these contract schemes garner to the bigger miners thus decreasing the difficulty of the algorithm and in turn making my mining more profitable. Or is it possible that mining contracts are sold on the presumption that BTC will jump in value significantly more than the difficulty increases and the percentage of fees paid will drop substantially so that I can receive some ROI? 

I definitely should have done some better due dilligence on this stuff, but hey I had money to gamble, and my gamble pretty much amounted to Hashflare is legit and isn't selling worthless contracts.

Now can somebody please explain to me how miners make any money when the BTC algorithm seems to increase several multiples a year? This newb will appreciate it.

They don't and you have lost your money. Sorry to be the one telling you this but money does not fall down from the sky. The only miners who can make money re large farms having access to cheap electricity and constantly upgrading cheap hardware. You have access to none. You should ve gone with scrypt algo, there you would have some chance. With SHA 256, BTC mining, no way. Sorry.

[JessicaG]

So would you say that it would be best to purchase a scrypt contract at this point on Hash Flare over SHA 256, or would it have been better to buy it earlier and just isn't worth the investment anymore? I'm fairly new to BTC so would appreciate any advice. Cheers!

In general, purchasing SHA256 power will decline your income from it steadily, because the ever increasing difficulty of the Bitcoin. That's a given fact.

Now regarding cloud contracts, Scrypt power doesn't work that same way. Firstly, it's because (in general) the value of Scrypt-based coins fluctuate alongside the value of the Bitcoin. Secondly, Scrypt income is paid out in Bitcoins. And thirdly, global Scrypt hashpower is rather steady compared to global SHA256 power.
So, generally, if the price of Bitcoins goes up then the price of non-Bitcoin coins goes down, and vice versa. But, since your Scrypt power is paid in Bitcoins, your actual payment (as in terms of $$$ worth) remains very roughly the same; or at least, is far less volatile and subject to direct (global) SHA256 difficulty adjustments, because the (global) Scrypt power is rather steady.

So in answer to your question, yes, Scrypt contracts are more valuable than SHA256 contracts