Bitcoin Cloud Mining with HashFlare

[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.

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.

Is that not the sales pitch? Hashflare is a farm, they've chose a location with cheap electricity, and they constantly upgrade the inefficient hardware.  I'm still hopefull these contracts will amount to something, there are miners who do make money and selling contracts would be a strategy to keep them financially competitive in a race to upgrade fastest.

[crazyivan]

This is the closest to results I ve been getting

https://bitcointalk.org/index.php?topic=1579210.0

Still, cloud mining is a risk, lots of things can go wrong, mining difficulty is the most important issue. BTC and LTC price is the next issue. Make sure you understand these.

[JessicaG]

Is that not the sales pitch? Hashflare is a farm, they've chose a location with cheap electricity, and they constantly upgrade the inefficient hardware.  I'm still hopefull these contracts will amount to something, there are miners who do make money and selling contracts would be a strategy to keep them financially competitive in a race to upgrade fastest.

There's no proof of that. Would you be so kind to elaborate?

[BTCSpearo]

Is that not the sales pitch? Hashflare is a farm, they've chose a location with cheap electricity, and they constantly upgrade the inefficient hardware.  I'm still hopefull these contracts will amount to something, there are miners who do make money and selling contracts would be a strategy to keep them financially competitive in a race to upgrade fastest.

There's no proof of that. Would you be so kind to elaborate?

My logic is that Hashflare is doing genuine mining, trying to earn money and that the contracts they sell are "intended" to be profitable. Why does any mining company sell mining contracts? To fund expansion and further mining ventures. Unlike precious metals or mineral mining there is no doubt as to whether or not the location, the BTC blockchain, has what is desired. The only question is whether it can be mined profitably. So...my assumption, and it is an assumption, is that the contracts are being sold in order to fund increased efficiency of mining since that is the only way to increase profitability in the bitcoin mining game. And since advances in efficiency are going to make less efficient miners less profitable, many will be forced to shut down inefficient mining operations and the result will be fewer miners executing hashing power and potential decreases in the BTC algorithms difficulty which will then attract less efficient miners, again increase the difficulty and the cycle will repeat. So...I remain hopeful that hashflare will be honest, stay competitive, and pay me a better return on my investment than I could have got by lending out my spare bitcoin for margin trading on an exchange. Time will tell.

[Gifted]

I've been looking for a cloud mining company but i cant seem to trust any of them. Ive read some posts in here and it seems to be legit.  Do you offer any referral commission for bringing in sales to  HashFlare?

[kalpit]

I've been looking for a cloud mining company but i cant seem to trust any of them. Ive read some posts in here and it seems to be legit.  Do you offer any referral commission for bringing in sales to  HashFlare?

Yes, Hashflare seems trustworthy.
However, every cloud mining company looks trustworthy earlier but later out to be Ponzi.

I don't know if they are real. But till now they pay on time everytime.

Yes, they have a referral commission of 10 % .

[blg42598]

Please add profit switching pool for scrypt

[crazyivan]

589 mhs hashflare scrypt hash for sale, really nice price, if interested PM me.

[AleScamHole]

589 mhs hashflare scrypt hash for sale, really nice price, if interested PM me.

im kinda surprised tht you bought tht much Ivan, from what i seen you have spent 20% of your time on here saying cloud mining is a scam. what a hypocrite! haha

[crazyivan]

589 mhs hashflare scrypt hash for sale, really nice price, if interested PM me.

im kinda surprised tht you bought tht much Ivan, from what i seen you have spent 20% of your time on here saying cloud mining is a scam. what a hypocrite! haha

I bought my hash just over a year ago and I have reached ROI in late August this year. Scrypt Hashflare cloud s been profitable for me but I do need money to expand my GPU farm cause I ve had a small accident with a few of my rigs. I have never said Hashflare is a scam. Show me where I ve said Hashflare is a scam? I m 100% sure they mine something, you can see lots of photos on their Instagram showing a small GPU farm. Still, that does not mean one should not be careful when investing into cloud mining, almost all other websites ve turned into scams besides Hashflare, Genesis and Hashnest. I have never had any issues with Hashflare, payouts re regular, on a daily basis and whenever I contacted their support, the answer was quick and adequate.

Now, talking about hypocrisy, Doctor G, you wear Hashflare tag, get paid for it, which means you promote it DIRECTLY and yet you think it is a scam and I m crazy? Good work, Doctor G. Good work.

[kalpit]

589 mhs hashflare scrypt hash for sale, really nice price, if interested PM me.

im kinda surprised tht you bought tht much Ivan, from what i seen you have spent 20% of your time on here saying cloud mining is a scam. what a hypocrite! haha

Maybe he had realised that cloud mining is scam after investing in it.

Or, it could be this way too. This was what I did in the past.
I heard of  cloud mining company Hashocean. It was promising ROI in 3 months only. Basically it was HYIP. I knew that it if definitely a scam. No mining has achieved roi in 3 months.
But still I invested to earn more Bitcoins. This investment was very risky, but still I did.
With proper management of balance in Hash ocean , I received roi in 1.5 - 2 months only. After that, I earned *2 amount investment in about total three months.

I also did some calculations for Hashocean. According to that calculations, only with a  investment of $10  you can earn 1 Bitcoin in 1-2 year.
So if you invested in a scam too, you can get x100 the investment in a year. Hashocean ran for an year or so.


However, I don't think Hashflare is a scam. But you never know in crypto world.

[crazyivan]

Once more, I do not invest into scams. I do not think they re scam cause they mine something 100%. But this is my money.
You do your own calculations.

[winspiral]

Once more, I do not invest into scams. I do not think they re scam cause they mine something 100%. But this is my money.
You do your own calculations.

I run an u2cloudmining site without miner and it works perfectly...
Why spend money for mining if the profit is better without miners?
mining = more fees than profit
no mining = No fees and only profit.


You do your own calculations.

[chixka000]

Once more, I do not invest into scams. I do not think they re scam cause they mine something 100%. But this is my money.
You do your own calculations.

I run an u2cloudmining site without miner and it works perfectly...
Why spend money for mining if the profit is better without miners?
mining = more fees than profit
no mining = No fees and only profit.


You do your own calculations.

Why would i invest my amounts into scams(consider those amounts as wasted). I would rather paying some fees at least i am seeing what am i currently having.

no mining= No fees yes but only profit? You must be the hilarious person i had ever meet. Now I tell you to do your own calculation .

[metamorphin]

Interesting:

Faucet and Casino are talking about well invested money.

 


Greetz
Steve

[AleScamHole]

Interesting:

Faucet and Casino are talking about well invested money.

 


Greetz
Steve

Ive totally given up on this thread.
I wait to see if I can make a ROI
To be fair tho, I have made some from affiliate sales, surely that is the way to go with Hashflare

affiliates are always the way to go, but their generally frowned upon on this forum as they lead to mindless shilling (genesis style).
People hoping their only ROI is by getting others money involved. its one thing to gamble with your OWN money, but to sucker others in just to hope for your OWN ROI?
thats just disgraceful ;p

@ivan that's cool man, i just always took your previous posts very serious, your one of the people i feel knows much about this space. Its good to know you find them "moreso legit"

[winspiral]

Once more, I do not invest into scams. I do not think they re scam cause they mine something 100%. But this is my money.
You do your own calculations.

I run an u2cloudmining site without miner and it works perfectly...
Why spend money for mining if the profit is better without miners?
mining = more fees than profit
no mining = No fees and only profit.


You do your own calculations.

Why would i invest my amounts into scams(consider those amounts as wasted). I would rather paying some fees at least i am seeing what am i currently having.

no mining= No fees yes but only profit? You must be the hilarious person i had ever meet. Now I tell you to do your own calculation .

I have no calculation to do...
I am the rewarder...The calculation is to do by my members who share the profit for free.

[JessicaG]

Once more, I do not invest into scams. I do not think they re scam cause they mine something 100%. But this is my money.
You do your own calculations.

I run an u2cloudmining site without miner and it works perfectly...
Why spend money for mining if the profit is better without miners?
mining = more fees than profit
no mining = No fees and only profit.


You do your own calculations.

Why would i invest my amounts into scams(consider those amounts as wasted). I would rather paying some fees at least i am seeing what am i currently having.

no mining= No fees yes but only profit? You must be the hilarious person i had ever meet. Now I tell you to do your own calculation .

I have no calculation to do...
I am the rewarder...The calculation is to do by my members who share the profit for free.

Oh please...

Are you really going to spam this board everywhere possible where you think you might get to lure in some lads and gents?
Kindly, stick to your own topics regarding your site; très, très s'il vous plaît...

[crazyivan]

Interesting:

Faucet and Casino are talking about well invested money.

 


Greetz
Steve

Ive totally given up on this thread.
I wait to see if I can make a ROI
To be fair tho, I have made some from affiliate sales, surely that is the way to go with Hashflare

affiliates are always the way to go, but their generally frowned upon on this forum as they lead to mindless shilling (genesis style).
People hoping their only ROI is by getting others money involved. its one thing to gamble with your OWN money, but to sucker others in just to hope for your OWN ROI?
thats just disgraceful ;p

@ivan that's cool man, i just always took your previous posts very serious, your one of the people i feel knows much about this space. Its good to know you find them "moreso legit"

Alex, take a look at this if you have not already.

https://www.instagram.com/hashcoins/?hl=en

Make sure you load all photos. As you can see, lots of photos of a small mining farm together with people who run hashflare. So they mine something 100%. Can it be fractional mining? Yes, everything s possible, this is crypto. On the other hand why would they try so hard to BS us? It s much easier to act a classic cloud mining scam, take money and run.

Also, almost all of these people re on Linkedin, you can find their profiles, photos, names, everything. You can even connected with them and talk to them.

Finally, I have reached ROI with them in August and continue making money with them. It does not add much to their legitimacy but none of cloudmining scam companies lets other people make money cause they prefer stealing money.

To be 100% clear, I m not convincing or telling anyone to join them, your money, your decisions.

[ethereumhunter]

Interesting:

Faucet and Casino are talking about well invested money.

 


Greetz
Steve

Ive totally given up on this thread.
I wait to see if I can make a ROI
To be fair tho, I have made some from affiliate sales, surely that is the way to go with Hashflare

affiliates are always the way to go, but their generally frowned upon on this forum as they lead to mindless shilling (genesis style).
People hoping their only ROI is by getting others money involved. its one thing to gamble with your OWN money, but to sucker others in just to hope for your OWN ROI?
thats just disgraceful ;p

@ivan that's cool man, i just always took your previous posts very serious, your one of the people i feel knows much about this space. Its good to know you find them "moreso legit"

Alex, take a look at this if you have not already.

https://www.instagram.com/hashcoins/?hl=en

Make sure you load all photos. As you can see, lots of photos of a small mining farm together with people who run hashflare. So they mine something 100%. Can it be fractional mining? Yes, everything s possible, this is crypto. On the other hand why would they try so hard to BS us? It s much easier to act a classic cloud mining scam, take money and run.

Also, almost all of these people re on Linkedin, you can find their profiles, photos, names, everything. You can even connected with them and talk to them.

Finally, I have reached ROI with them in August and continue making money with them. It does not add much to their legitimacy but none of cloudmining scam companies lets other people make money cause they prefer stealing money.

To be 100% clear, I m not convincing or telling anyone to join them, your money, your decisions.

its good for you that you've reached your ROI and i hope i can follow you. for now, if we want to make deposit in cloud mining, i think we should be careful to choose because once we make deposit, it needs too long to reach ROI, almost 10-12 month for mining bitcoin, but if we are no problem with that, so you can choose the best cloud mining and the hashflare is one of the oldest of cloud mining that still exist until now, the other is genesis mining, eobot, and hashnest. so, the choice is up to you and don't regret if someday you get scam.