Bitcoin Cloud Mining with HashFlare

[monsterr]

I recently purchased a 200 MH/s Bitcoin Scrypt Lifetime mining contract.

I wish to know what is meant exactly by a lifetime contract where the condition specified is "as far as mining remains profitable".

What happens to the contract when one day, the mining become unprofitable?

What is the duration (how many consecutive days) of non-profitability is deemed unprofitable?

Will my contract be terminated once it becomes unprofitable?

All contracts will stopped if they gone unprofitable. One day is enough, I think.

It means that mining start give less money then it need to be mined.

Everybody's contracts will be stopped in that case.

[raynman]

I recently purchased a 200 MH/s Bitcoin Scrypt Lifetime mining contract.

I wish to know what is meant exactly by a lifetime contract where the condition specified is "as far as mining remains profitable".

What happens to the contract when one day, the mining become unprofitable?

What is the duration (how many consecutive days) of non-profitability is deemed unprofitable?

Will my contract be terminated once it becomes unprofitable?

All contracts will stopped if they gone unprofitable. One day is enough, I think.

It means that mining start give less money then it need to be mined.

Everybody's contracts will be stopped in that case.

Is contract "stopped" means that the contract is terminated?

If not, when will the contract "start" again?

[monsterr]

I recently purchased a 200 MH/s Bitcoin Scrypt Lifetime mining contract.

I wish to know what is meant exactly by a lifetime contract where the condition specified is "as far as mining remains profitable".

What happens to the contract when one day, the mining become unprofitable?

What is the duration (how many consecutive days) of non-profitability is deemed unprofitable?

Will my contract be terminated once it becomes unprofitable?

All contracts will stopped if they gone unprofitable. One day is enough, I think.

It means that mining start give less money then it need to be mined.

Everybody's contracts will be stopped in that case.

Is contract "stopped" means that the contract is terminated?

If not, when will the contract "start" again?

you need to ask HF's support about it.

[raynman]

Thanks. I will.

[kalpit]

I recently purchased a 200 MH/s Bitcoin Scrypt Lifetime mining contract.

I wish to know what is meant exactly by a lifetime contract where the condition specified is "as far as mining remains profitable".

What happens to the contract when one day, the mining become unprofitable?

What is the duration (how many consecutive days) of non-profitability is deemed unprofitable?

Will my contract be terminated once it becomes unprofitable?

All contracts will stopped if they gone unprofitable. One day is enough, I think.

It means that mining start give less money then it need to be mined.

Everybody's contracts will be stopped in that case.

Is contract "stopped" means that the contract is terminated?

If not, when will the contract "start" again?

I think it will resume when it becomes profitable again.

I don't think it will become unprofitable for Hashflare anytime soon as the Bitcoin price is rising. I know difficulty too is rising. But I think we are safe  till the next halving.

I'm sure after the next halving, it wont remain profitable.

[raynman]

I recently purchased a 200 MH/s Bitcoin Scrypt Lifetime mining contract.

I wish to know what is meant exactly by a lifetime contract where the condition specified is "as far as mining remains profitable".

What happens to the contract when one day, the mining become unprofitable?

What is the duration (how many consecutive days) of non-profitability is deemed unprofitable?

Will my contract be terminated once it becomes unprofitable?

All contracts will stopped if they gone unprofitable. One day is enough, I think.

It means that mining start give less money then it need to be mined.

Everybody's contracts will be stopped in that case.

Is contract "stopped" means that the contract is terminated?

If not, when will the contract "start" again?

I think it will resume when it becomes profitable again.

I don't think it will become unprofitable for Hashflare anytime soon as the Bitcoin price is rising. I know difficulty too is rising. But I think we are safe  till the next halving.

I'm sure after the next halving, it wont remain profitable.

With Scrypt mining, Hashflare is actually mining litecoin and converting them to bitcoin at the prevailing LTC/BTC exchange rate.
When the value of BTC is halved, one LTC can buy twice the amount of BTC, therefore increasing the BTC payout to balance out the price drop in BTC.
The lifetime contract should still be profitable. I can't say the same for SHA-256 mining.

Theoretically speaking, that is. I know very little of cryptocurrencies.

[roccstar]

Guys , how many days it will take to reach ROI?

[monsterr]

Guys , how many days it will take to reach ROI?

here is no strong rule for ROI - it depends from BTC or what-do-you-mine rate and from complexity increasing, so nobody can tell you that, to be honest.

As example you can count about 1,5 year to return your investment for SHA-256 and Scrypt, if you measure it in BTC. In dollars or other fiat it can be twice faster, but depends, as I said before.

[carlisle1]

Guys , how many days it will take to reach ROI?

here is no strong rule for ROI - it depends from BTC or what-do-you-mine rate and from complexity increasing, so nobody can tell you that, to be honest.

As example you can count about 1,5 year to return your investment for SHA-256 and Scrypt, if you measure it in BTC. In dollars or other fiat it can be twice faster, but depends, as I said before.

so it will take some time but who knows what's the value of btc then and its a good way holding your future as long as the company still working
and keeps on doing its best and the mining industry are still there and more coins and developers i think its much better than nothing and just
spending your btc/money for leisure.

[Crystal11]

https://bitcointalk.org/index.php?topic=1164418.msg18541982#msg18541982

8 years to get ROI and the tx fees  for SHA256 and that was calculated when the withdraw fee was 30k satoshi but now it is 130k satoshi.
Even if the bitcoin dropped the withdraw fee is still huge so we will have to pay 130k satoshi to get 10k . By increasing the fee with the bitcoin price excuse they force people to invest more and withdraw less times tipically for scammers.
I do regret investing in hashflare. I might consider to sell power ,don't pm me anybody yet.
Be careful whit "investing" in hashflare or their "polybius bank". It is more like donating. I don't recommend it.

[oportunis]

https://bitcointalk.org/index.php?topic=1164418.msg18541982#msg18541982

8 years to get ROI and the tx fees  for SHA256 and that was calculated when the withdraw fee was 30k satoshi but now it is 130k satoshi.
Even if the bitcoin dropped the withdraw fee is still huge so we will have to pay 130k satoshi to get 10k . By increasing the fee with the bitcoin price excuse they force people to invest more and withdraw less times tipically for scammers.
I do regret investing in hashflare. I might consider to sell power ,don't pm me anybody yet.
Be careful whit "investing" in hashflare or their "polybius bank". It is more like donating. I don't recommend it.

How did u calculate 8 years? I get about 10 to 15% a month currently from my invested sum. So in about 6 to 10 month I get my initial investment back and from that point on it is pure profit... ETH u get ROI back in about 4 months currently...

[raynman]

https://bitcointalk.org/index.php?topic=1164418.msg18541982#msg18541982

8 years to get ROI and the tx fees  for SHA256 and that was calculated when the withdraw fee was 30k satoshi but now it is 130k satoshi.
Even if the bitcoin dropped the withdraw fee is still huge so we will have to pay 130k satoshi to get 10k . By increasing the fee with the bitcoin price excuse they force people to invest more and withdraw less times tipically for scammers.
I do regret investing in hashflare. I might consider to sell power ,don't pm me anybody yet.
Be careful whit "investing" in hashflare or their "polybius bank". It is more like donating. I don't recommend it.

How did u calculate 8 years? I get about 10 to 15% a month currently from my invested sum. So in about 6 to 10 month I get my initial investment back and from that point on it is pure profit... ETH u get ROI back in about 4 months currently...

Correct.

This is almost exactly what I am getting from Genesis and Hashflare right now.

8 years is a ridiculous figure.

[rytyr]

They have currently stopped all withdrawals for the ones who have ethash on their accounts for some reason.
I am not sure why but it has been suspended until further notice.

[raynman]

They have currently stopped all withdrawals for the ones who have ethash on their accounts for some reason.
I am not sure why but it has been suspended until further notice.

This message is displayed on my Hashflare dashboard since 2 days ago.



Dear users,
Due to a high load on the Ethereum network, ETH withdrawals are temporarily disabled until further notice. If you have created an ETH withdrawal after 20.06.2017 16:00 UTC and it was unsuccessful, your withdrawal will be processed as soon as possible, please do not contact our support as they will be unable to help you until the congestion clears.

[Crystal11]

Total spent (deposited + tx fees) = 0.02010026 BTC

Total withdrawn = 0.00294623 BTC (and this is for almost 1 year !!)

Percent amount recovered : 14.65 % for 1 year !!!
One day hashflare will display an announcement that mining contract is not profitable anymore.
You will be scammed but you just don't know yet. Hashflare is a scam but you dont know yet. They wont be online for 8 years to recover the money spent.
So stop telling me that it wont take 8 years . And dont forget about 130k FEE to withdraw. I will not recommend this website anymore and warn everybody .
I bet 80% of the answers here in this topic are made by admins using alt accounts on bitcointalk. Specially the newbie answers.
Rayman you are equal to 0 to me. I have proofs and i dont lie ,you stupid little ***** .So go play somewhere else with your admin/newbie alt account.

[oportunis]

Total spent (deposited + tx fees) = 0.02010026 BTC

Total withdrawn = 0.00294623 BTC (and this is for almost 1 year !!)

Percent amount recovered : 14.65 % for 1 year !!!
One day hashflare will display an announcement that mining contract is not profitable anymore.
You will be scammed but you just don't know yet. Hashflare is a scam but you dont know yet. They wont be online for 8 years to recover all i spent.
So stop telling me that it wont take 8 years . And dont forget about 130k FEE to withdraw. I will not recommend this website anymore and warn everybody .
I bet 80% of the answers here in this topic are made by admins using alt accounts on bitcointalk. Specially the newbie answers.
Rayman you are equal to 0 to me. So go play yourself somewhere else with your admin alt account.

Well u have invested small amount and transfer fee eats your profit. To me this fee is small and I get 10 to 15 % a month including withdrawal fee, but I take money out 1x per month. If u leave btc in your hashflare and mining won't be profitable u can still withdraw btc u have accumulated. U just won't mine until it gets profitable again. Now saying they are scamers this is not true. Also the team is visible and u can report them to police if this would be true.

[Crystal11]

Oh another newbie answer with a possible alternate account.
You are right about the fees spent.

Also the team is visible and u can report them to police if this would be true.

This is not the time yet. But one day they will display messages like mining is not profitable anymore and  many people will be scammed.

[oportunis]

Oh another newbie answer with a possible alternate account.

Also the team is visible and u can report them to police if this would be true.

This is not the time yet. But one day they will display messages like mining is not profitable anymore and then many people will get scammed.

Yes and this is not a scam... They post that they mine only when profitable and they will stop mining until it gets back to profit. If one day this happens u won't mine true, but your btc are still there and they won't steal them, so u can withdraw them. If not than this would be a scam. All who invest know this and they can espect some day this will happen. U can buy your own mining rig and it can also stop being profitable. Is this a scam to u also? Will u report to hardware shop that they scamed u because they sold u mining rig and mining is not profitable?

[raynman]

Oh another newbie answer with a possible alternate account.

Also the team is visible and u can report them to police if this would be true.

This is not the time yet. But one day they will display messages like mining is not profitable anymore and then many people will get scammed.

Yes and this is not a scam... They post that they mine only when profitable and they will stop mining until it gets back to profit. If one day this happens u won't mine true, but your btc are still there and they won't steal them, so u can withdraw them. If not than this would be a scam. All who invest know this and they can espect some day this will happen. U can buy your own mining rig and it can also stop being profitable. Is this a scam to u also? Will u report to hardware shop that they scamed u because they sold u mining rig and mining is not profitable?

You are correct.
It is very true that we, as cloud mining investors, know about the maintenance fee for lifetime contracts and the network transfer fees for sending the payouts into our wallets.
Because the MEF is fixed, a small payout has a greater chance of becoming not profitable than a big contract.
I have a 200 MH/s Lifetime Bitcoin (Scrypt) mining contract with hashflare. Right now, the daily MEF is only about 11 to 12% of the daily payout.
There is no chance my contract will become non-profitable unless the price of bitcoin plummets to a very low level like $700.
Be more investment-savvy and do your calculations properly. Buying a small contract is asking for trouble, and if the conditions are against you, you call Hashflare a scam. My God!

[rytyr]

Since you put it this way with the example for over a year. It does not look as profitable as they promote it to be.
One must put the transaction fees they charge in order to send you out your withdrawals once requested.
That is where most of your profit goes if you calculated it out before purchasing the hash power from them.