Cloud Mining Journey (with Hashflare)

[SamsungBitcoin]

Goodluck to all investors of this cloudmining wishing that this site will continue the good work and do not become a scam because base on my experience there are some previous cloudmining which gather lots of investors due to their good services but one day many people git shock because more withdrawal become pending then later on their site does not exist. In short they became scam mining.

[1715452548]

1715452548

[1715452548]

1715452548

[1715452548]

1715452548

[katinko]

Cloud mining cant gives you good income then your capital would be on the higer risk investment that is why if you gain profit in this cloud mining (hashflare) much better to withdrawn all your investment because in the long run it will be a scam site. I rwad more statement for those users experience inveating in cloud mining but their experience almost the same.

[shmocs]

I am aware.
Anything can happen, and I always advice anyone to invest only the amount of money they afford to lose.

Genesis and HashFlare are here for some good years. I am new in Crypto, and I admit I was very skeptical.
Their business model is clearly in favour of them. They invest in mining hardware, start to mine for themselves, then by selling this hashpower to users, they already have most of their investment returned.
Plus, after one year (the contract duration on HashFlare) they remain with the hardware. It won't produce that much after one year but they for sure will reuse it  for the same contracts to new users or switch to other coins that are more profitable to mine.
Plus, they are protected in case of investing into equipments that have mined a coin that drops 90% due to.. who knows what security issue is found in the code.

That's why I think these limited contracts are a proof that the company is protecting as much as it can, in order to be able to remain on the market, as a trustful one.

If you catch a good offer of these contracts (with trusted cloud mining companies for years) and the mined crypto is in a bullish trend - you are going to make a better ROI.

Of course you have to consider the difficulty increase.
There are so many aspects. I made that profit estimator for cloud mining mentioned in an earlier post - so that anyone can play with it and make a better ideea of what is possible.

As I said - some day it may come the news like ... NiceHash has been hacked
Or exchanges gets hacked, or closed, or ...

Get informed, study, and again: invest only as much you can afford to lose.

[solarion]

Cloud mining cant gives you good income then your capital would be on the higer risk investment that is why if you gain profit in this cloud mining (hashflare) much better to withdrawn all your investment because in the long run it will be a scam site. I rwad more statement for those users experience inveating in cloud mining but their experience almost the same.

Still there are many fools in the market who is investing on the cloud mining platform. When many people comes a victim and reporting here as the complaints and many things.
Still many people doing that mistake for the long time, They may be risky to the have the contract for long time, they may block your account or they will charge extra charge as the payment for the cloud site.

[PeZ]

Goodluck to all investors of this cloudmining wishing that this site will continue the good work and do not become a scam because base on my experience there are some previous cloudmining which gather lots of investors due to their good services but one day many people git shock because more withdrawal become pending then later on their site does not exist. In short they became scam mining.

Most ICO's are scams. Plenty of scams in crypto. There are no safe investments here.
I find it puzzling that people come here to dump on cloud mining and pump their ICO scams.

[CatCanDo]

Hey mghaynes  ... Hope you're doing OK in 2018.   How about an update.  have you withdrawn yet ?

I started a similar Journey with you on Dec 6th,  Bought 2TH for $300 US and don't care if I loose it.   

I wanted to try reinvesting for 6 months and see how the changes in difficulty and price per TH affect that strategy

so far in 1 month I'm at 2.59TH

[GrassBite]

Hey, I want to try it out.  SOmeone got a voucher code for me?  Please PM it, and don't spam the thread.

[CatFur]

I've been waiting for OP to post whether he/she was finally able to make a withdrawal too.

Newbie question: if I don't reach the minimum threshold for a withdrawal and my contract runs out, and I want out, can I still withdraw or they will end the contract with my money? Thanks.

[hashray]

I've been waiting for OP to post whether he/she was finally able to make a withdrawal too.

Newbie question: if I don't reach the minimum threshold for a withdrawal and my contract runs out, and I want out, can I still withdraw or they will end the contract with my money? Thanks.

Sure you still can make the withdrawal even you do not meet the minimum conditions.
Check this out at HashFlare FAQ What if my final balance is lower than the current minimum withdrawal amount?

Remember, that we change the minimum withdrawal amount and transaction fee reactively based on external factors. Should the situation on the network improve, we will lower the minimum withdrawal amount.
Currently, we are looking for a solution for those, whose total balance is smaller than the minimum withdrawal at the end of their contracts. At the moment, we can confirm that users will still be able to make a withdrawal in case if their balance will be lower than the minimum withdrawal amount by the time when their contract expires.

[CatFur]

I've been waiting for OP to post whether he/she was finally able to make a withdrawal too.

Newbie question: if I don't reach the minimum threshold for a withdrawal and my contract runs out, and I want out, can I still withdraw or they will end the contract with my money? Thanks.

Sure you still can make the withdrawal even you do not meet the minimum conditions.
Check this out at HashFlare FAQ What if my final balance is lower than the current minimum withdrawal amount?

Remember, that we change the minimum withdrawal amount and transaction fee reactively based on external factors. Should the situation on the network improve, we will lower the minimum withdrawal amount.
Currently, we are looking for a solution for those, whose total balance is smaller than the minimum withdrawal at the end of their contracts. At the moment, we can confirm that users will still be able to make a withdrawal in case if their balance will be lower than the minimum withdrawal amount by the time when their contract expires.

Thank you, didn't think to look under that title even though I had been reading up their FAQ and support. Since they have been increasing and decreasing the minimum and transaction fee reactively, the 'at the moment' is kind of worrying.

Still waiting for OP though. I'm curious.

[kmantronix]

Hello,

An update from my side after 30 days in Hashflare/
Just to reminder, i started on Dec 10 2017 with 84 TH/s

For now i recovered 39.2 % ( in BTC ) from my initial investment
which makes breakeven at 77 days.

I have been quite lucky as previous mining difficulty has been only increased by 3.1%

Next one ( currently scheduled for Jan 12 ) should be higher, around 10%

I didnt get a chance to reinvest as the BTC price didnt get much higher since my last update ( the only condition i would reinvest was the BTC to make a big jump higher )

[ShadowBJ21]

So you had been able to withdraw once you reached the minimum withdrawl / passed the 14 day block time?

[kmantronix]

yes sure, already withdraw twice.

[ShadowBJ21]

Thanks! Really getting tired of all this "Hashflare is scam" crap.
Have to wait a little longer to withdraw as I only mine with 1.5 TH/s (and some ETH) but so far results at Hashflare are satisfying for me too.

[sidsyrus]

I bought about 4.25TH/s about a month ago and I already have .017 BTC. I am waiting for it to get to .05 so I can finally withdraw it. Once I can successfully withdraw it, I will start to trust Hashflare more. Because they have been changing withdraw limit every now and then. And even though avg transaction fees (https://bitinfocharts.com/comparison/bitcoin-transactionfees.html) have gone down recently, they seems to have kept the withdrawal limit same.

[PeZ]

I think they are planning to do withdrawal transactions in batches to save on fees.

[Fastserv]

I think they are planning to do withdrawal transactions in batches to save on fees.

they are charging quite big amount on withdrawal fees, if they are planning to do withdrawal transaction on batch they should lower the miner's fee they are deducting from users or it will be called robbery

[cryptowye]

Been with hashflare for a month or so too. Looking to add more hash power as my current 0.8 TH/s is way too low to bring any meaningful return. Target to reach to >5 TH/s.

Maybe i still way off even with auto reinvest. Things should pick up soon.

[ShadowBJ21]

they are charging quite big amount on withdrawal fees

Do they? Even with the current 0,0007 BTC it's lower than the usual transaction fee (currently most I see is around 0,001+)

[kmantronix]

Hi,

I made a withdraw again on this morning.
It took only a few minutes from the transaction to move from chain.so to the [Suspicious link removed]pared to hours,  weeks before, thats a good surprise !