Ive been mining for a while but recently had to start moving around the country so i handed off my antminers to a friend and sold my baikals. I decided to buy cloud mining with the baikal money. I was wondering what people thought of these 2 services.
www.genesis-mining.com was what I chose for x11. Its just about the same price as hashflare but genisis is 2 year and hashflare is 1. Also a google search gave me a discount of 3% with the code S18cZt. I used it twice so its a multiuse. I got 800Mh for about 3750$ USD. I figure ill ROI in about 200 days or less.
www.hashflare.io is what I chose for Sha-256. Its a lifetime contract and it seems like ROI might be a bit high like a year. I couldnt find a promo code for hashflare that worked so if you have one please share. I only bought 5Th on hashflare to see what the payouts are like after the maintenance fee. It was 600$ USD for the 5Th.
I was just wondering what other users of these services think. Im looking at buying more but I figured I would see what I get out of a month with current contracts. If anyone is interested I can post random payouts with hashpower rate. If your not a user of these services then I'm not looking for your opinion. Ive read all the posts about it being a scam but the majority are from 2-3 years ago and these 2 companies are still around. I just really want to know what people paid and what their ROI was if it even happened.
I do have contracts from both Genesis Mining and Hashflare.
The 3% discount is widely available, because everyone who owns a contract from GM has one as referral. So, the person who has put this referral on internet earned at least 2.5% of your purchase - there are members on this board who wanted to share their profit when you buy, so you could better put a request on this board for a code instead of just posting someone's referral code.
At this time the only (seemingly) profitable contracts are Scrypt from Hashflare and Dash(X11) from GM - but even with them I'm afraid there is a big chance you will never reach ROI. The profit comes mostly from the higher price of Litecoin (Scrypt) and Dash itself. The number of coins mined is dropping, and when new mining equipment will become available on the market difficulty will rise again - with another lower number of mined coins. Only Scrypt has an advantage: it is lifetime (=as long it's profitable).
When you want to buy more: regularly there are people selling hashrate from Hashflare or contracts of Genesis Mining. Then you will pay a better price.
For example:
https://bitcointalk.org/index.php?topic=1876754.0 It's easy to transfer hashrate on Hashflare to transfer from one user to another.
Sha-256 is even worse: bitcoin-difficulty is rising faster then price, so earnings will go down every single day. The only upside is that Hashflare once changed the maintenance/electricity fee - for all contracts. GM changes this frequently, but only for new contracts.