Hashnet Cloud Mining - Feedback please

[CrewBear]

Good evening,

I hope you can help.

I have up to £35,000 to invest in bitcoin. Rather than buying and holding I’d prefer to invest that money into a mining operation, although it’s become apparent after some research that’s it’s being dominated by some big companies mainly out of China not to mention the speed of which hardware becomes redundant.

That leaves me with cloud mining, after some research I have found that Genesis mining whom are extremely well marketed are operating a scam. Which has left me with Hashnet… I’d appreciate your feedback on them?

Many thanks

[1714957052]

1714957052

[1714957052]

1714957052

[Lionidas]

Make it's time to think to not invest into China mining because their situation with bitcoin is failing starting with their exchanges so you would think their mining monopoly is to follow.
I would rather think of joining into this one instead:

Hashflare is registrated company in Estonia. It's not like business registration in some tax haven island country's. They pay me over a year and is most profitable investments for cryptocurrency I have ever made so far and it's even to count in hashnest.

But it is noticed when submitting payment by wire transfer or by credit card you are sending a payment to an office in Scotland, UK. So they have multiple offices?
When you are contacting them via support which office are you contacting with?
Just curious due to the timezone change and wouldn't want to be left hanging with an issue reported on a Friday morning and not get a response until 72 hours later because their offices are closed over the weekend.

Atleast you can see they are operating in the EU and have offices for payment in the UK and not going to China.

[shield132]

Well, they are 100% legit because they are producing antminers. Also they don't offer lifetime invest like genesis, you can sell your GHS anytime you want. One problem is that GHS price is changing sometimes and when selling, hashnest takes some percent as a fee.
If you invest, don't be afraid that they will scam, this won't happen but your ROI will be very low. Another way here is to trade with GHS.

[mrcash02]

Don't invest in cloud mining. With £35.000 you can have a very good passive income from lending or investing in casino bankrolls.

Lenders have good profit on Poloniex, an exchange where you can receive daily interest. But don't do it now, wait for the hardfork as Poloniex won't pay BU proportional to your BTCs if they are lent there (if the hardfork really happen). At this moment few people are lending there because of it.

[Barbut]

Don't throw away your money, better use it for gambling then to invest it in something that will collapse very soon. I don't know did OP saw this section, there is many similar threads, and most repeated comment is 'stay away from cloud mining services', 3.5k is big money don't risk it in something where you can't make profit. If you risk make it to worth at least, and aim for higher profit.

[pinkflower]

Well, they are 100% legit because they are producing antminers. Also they don't offer lifetime invest like genesis, you can sell your GHS anytime you want. One problem is that GHS price is changing sometimes and when selling, hashnest takes some percent as a fee.
If you invest, don't be afraid that they will scam, this won't happen but your ROI will be very low. Another way here is to trade with GHS.

Can you personally guarantee that it will be profitable? How? Do you have firsthand experience in dealing with Hashnest? Please post your proof of earnings here in the thread.

The reason Im concerned is because Crewbear is a newbie and hes willing to invest 35,000 pounds. That amount of money is big enough to hurt if he loses it.

Crewbear, be patient and wait for a good entry price for BTC. It will be the best investment of your life.

[TCW003]

I found many members here not positive on cloud mining. Is that I'm lucky enough that I earned around 0.02 from it. Of course I've quit already now 

[Humanxlemming]

I found many members here not positive on cloud mining. Is that I'm lucky enough that I earned around 0.02 from it. Of course I've quit already now 

Yeah you are lucky for it because all cloud mining make turning back at scam so your lucky for it, again to OP don't try it its just a HYPE or Ponzi Scheme much better to keep it or if you want that to grow find a good one that will make you better just saying but if the cloud mining you find is trusted go! We our just saying what we expreince......

[Catmony]

Whatever their name will be, almost all cloud mining sites are not profitable if you consider increasing mining difficulty.

Cloud mining sites also sell more mining power than what they actually have in their mining farms. Just buy bitcoin and hold, current price is very good entry point.

[batang_bitcoin]

Good evening,

I hope you can help.

I have up to £35,000 to invest in bitcoin. Rather than buying and holding I’d prefer to invest that money into a mining operation, although it’s become apparent after some research that’s it’s being dominated by some big companies mainly out of China not to mention the speed of which hardware becomes redundant.

That leaves me with cloud mining, after some research I have found that Genesis mining whom are extremely well marketed are operating a scam. Which has left me with Hashnet… I’d appreciate your feedback on them?

Many thanks

Instead of believing with cloud mining, why not just go with casino's? I don't mean that go gamble that capital but invest it to their bankroll's. It's more reliable and good though the return is not that high but almost the same thing as you what you want to happen with cloud mining. Cloud mining will always had the same reputation to the community, it's not trusted.

[pinkflower]

I found many members here not positive on cloud mining. Is that I'm lucky enough that I earned around 0.02 from it. Of course I've quit already now 

.02 BTC is not worth it and how do we really know youre really telling the truth? How long have you waited to earn it and how big was your investment? Then finally give us your proof of earnings to make us believe you because you might be a shill account for all we know.

[senyorito123]

I found many members here not positive on cloud mining. Is that I'm lucky enough that I earned around 0.02 from it. Of course I've quit already now 

You cannot blame us to think negative on them since it was stated that cloudmining is unprofitable and ruined business, Blocks are getting more harder to mine aswell as electricity cost and other maintenance cost will surely eat your profits in their thats why don't ever believe on them anymore since surely the one who's still running for now is scam. Although some of them are running for so long still we cannot assure that they can still intact in next halving.

[coolcoinz]

Whatever their name will be, almost all cloud mining sites are not profitable if you consider increasing mining difficulty.

Cloud mining sites also sell more mining power than what they actually have in their mining farms. Just buy bitcoin and hold, current price is very good entry point.

I always thought it's simply not worth the risk. You don't have to be a genius to see that you're giving money to a company that:
Can be fake from the start
Can disappear at any time
Is very difficult to pursue in court and even if you try it's going to take years to get anything back
Pays very little
Needs a lot of time to pay back your money, which means you will start to earn money usually after 12-18 months. In a bitcoin world, where the price can go up 10% in a day, it's a very long time.

[CrewBear]

Thank you all for your feedback and comments. There's alot of different views on this, at this stage perhapes i'll hold off and just buy and hold coins but ideally i'd like to contribute to the cause.

[TCW003]

The market price of GH S9 on hashnest is rising high, I wish I didn't sell my ghs.

[pinkflower]

Thank you all for your feedback and comments. There's alot of different views on this, at this stage perhapes i'll hold off and just buy and hold coins but ideally i'd like to contribute to the cause.

Thats a very good choice. Dont support the schemers by buying into their scams. The more people they can trick in giving them your BTC the more of them will be set up to scam a new group of newbies. Dont give in to them.

[maku]

Thank you all for your feedback and comments. There's alot of different views on this, at this stage perhapes i'll hold off and just buy and hold coins but ideally i'd like to contribute to the cause.

Buying and holding coins would be be ideal. You see, with just owning bitcoins you are investing and can potentially achieve great profits, there is no need to risk even more.
Bitcoin prices rose more than 100% in 2016, isn't that good enough for you? With mining, both physical and cloud you have different kind of dangers waiting for you.
Standard mining is not worth the hassle, it is no use to compete with Chinese miners, and it is too risky to buy contract for extended period of time from cloud mining company.

[swogerino]

Don't invest in cloud mining. With £35.000 you can have a very good passive income from lending or investing in casino bankrolls.

Lenders have good profit on Poloniex, an exchange where you can receive daily interest. But don't do it now, wait for the hardfork as Poloniex won't pay BU proportional to your BTCs if they are lent there (if the hardfork really happen). At this moment few people are lending there because of it.

Don't do lending on Poloniex although the profit may sound optimistic there has been a lot of complaints in this section of poloniex and some people didn't care and didn't pay back their debt. They didn't care at all that poloniex closed down their accounts. I think now this section in Poloniex is not that active anymore.
With that amount the best to do is buy and hold and is much better than any mining operation. Hashnest are legit but not profitable.

[mrcash02]

Don't invest in cloud mining. With £35.000 you can have a very good passive income from lending or investing in casino bankrolls.

Lenders have good profit on Poloniex, an exchange where you can receive daily interest. But don't do it now, wait for the hardfork as Poloniex won't pay BU proportional to your BTCs if they are lent there (if the hardfork really happen). At this moment few people are lending there because of it.

Don't do lending on Poloniex although the profit may sound optimistic there has been a lot of complaints in this section of poloniex and some people didn't care and didn't pay back their debt. They didn't care at all that poloniex closed down their accounts. I think now this section in Poloniex is not that active anymore.
With that amount the best to do is buy and hold and is much better than any mining operation. Hashnest are legit but not profitable.

Really? I didn't know about it, I tought Poloniex had a mechanism to make it 100% profitable for the lenders. Who wants a loan need to have a collateral in altcoins balance to get a proportional loan in Bitcoins, no? If the person doesn't pay the loan, Poloniex take his balance and use it to pay the lender. At least it was what I thought.

[jossiel]

Good evening,

I hope you can help.

I have up to £35,000 to invest in bitcoin. Rather than buying and holding I’d prefer to invest that money into a mining operation, although it’s become apparent after some research that’s it’s being dominated by some big companies mainly out of China not to mention the speed of which hardware becomes redundant.

We can only help you by suggesting what we think what is right and base on our experience. And I can say that it's better to buy and hold rather than investing to any mining operation.

That leaves me with cloud mining, after some research I have found that Genesis mining whom are extremely well marketed are operating a scam. Which has left me with Hashnet… I’d appreciate your feedback on them?

Many thanks

There are people that earned to those cloud mining but it's reputation in the bitcoin community is just the same, they will soon collapse and it's tagged as scam.

I found many members here not positive on cloud mining. Is that I'm lucky enough that I earned around 0.02 from it. Of course I've quit already now 

It is because many of the people here experienced to be scammed with that cloud mining, though I haven't experience to happen with it, that was close to me to be encourage on investing there but good thing I don't.

You are one of those very few that earned with that amount, good decision and don't invest to them again.