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Author Topic: Cloud Mining Journey (with Hashflare)  (Read 4560 times)
Oxyartes
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February 11, 2018, 12:07:26 PM
 #141


Contemplating hitting reinvest or waiting it out!

Long story short, .8 BTC in December high got me 100 THS, made my initial capital slightly halfway through and withdrew all income yesterday. Now with the low prices almost half of my daily income goes to maintenance fees, compound that with the difficulty increase.

Tried a few online calculators and almost all of them shows negative returns if I invest now?!

I know if the difficulty increase and btc price keeps falling, hashflare terms of service will give a grace period of 21 days before they terminate my contract if maintenance fees exceed daily bitcoin earnings.

I also have a substantial ethhash contract, its less damning because of zero maintenance and lower difficulty increases! Smiley

In my opinion the ethhash contract is expensive. I could assemble a rig with a lower $/hashrate cost. And with my rig I can mine whatever I want to mine as long as I want and I can use or sell the components afterwards.
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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kmantronix
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February 22, 2018, 07:44:14 AM
 #142

Hi,

Now recovered 80% of my initial investment after 75 days.

Of course wont be able to reach break even in 84 days as initially scheduled.

75 days after i started buying hashrate at hashflare, my daily net incomes are a 1/3 that it was at the beginning because of the conjunction of higher difficulty and higher maintenance fee.

The plan now is roughtly to reach the break even in 110 days which is still acceptable and profitable.
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February 24, 2018, 01:03:29 PM
 #143

Somebody know when the minimum withdraw will change?
Doug E. Dee
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February 24, 2018, 10:15:13 PM
 #144

Agreed, not worth it unless BTC goes to >15k. Better off just trading .
kmantronix
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March 14, 2018, 07:19:20 AM
 #145

Hi,

This is getting slower and slower to reach the break even point

It tooks 20 days to move from 80% to 90% of breakeven

Started 95 days ago.

Now planning to reach breakeven between 115 and 120 days, which is not that bad at the end ( and  to be compared with the original 84 days forecast )
wantjokull
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March 27, 2018, 05:50:08 AM
 #146

I dont believe this has worked out for one person. Is he still posting because the reports that he has made are from the december last month and I ma really excited to see where has flare stands today? I mean with all the hype in recent months it was concluded that this site is going down badly and people are not getting any replies to their tickets. Also I have noticed that there is no real use of this site (cloud mining) unless and until you have got bigger hash rates. The more the hash rates the more is the cane you get your inevstment back in time. Back in time? Before your contract ends really so you dont have to pay back for that and increase the ROI. But still needs more confirmation upon this. Good study by the way.

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kmantronix
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April 16, 2018, 07:38:02 AM
 #147

Hello,

Finally reached breakeven after 128 days ( to be compared to the 84 days forecasted at the beginning )

Currently because of the BTC price, fees are representing about 60%-70% of my incomes.
With the current BTC price & difficulty, i can expect to make about 0.47 BTC ( that s far from the initial forecast which was around 3 or 4 BTC )
In anyway that can only be better as i would expect the BTC price not to go lower.


CryptoMiner3
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April 16, 2018, 02:50:12 PM
 #148

Congrats on breaking even!  Smiley

Just to clarify... when you say you've got your investment back...

Are you talking about BTC or USD?


Hello,

Finally reached breakeven after 128 days ( to be compared to the 84 days forecasted at the beginning )

Currently because of the BTC price, fees are representing about 60%-70% of my incomes.
With the current BTC price & difficulty, i can expect to make about 0.47 BTC ( that s far from the initial forecast which was around 3 or 4 BTC )
In anyway that can only be better as i would expect the BTC price not to go lower.



bitChipper
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April 16, 2018, 03:04:54 PM
 #149

The cease and desist order from 2 usa states to genesis mining should really discern people to the reality of the situation with cloud mining. Ya sure you may make a little money but you have to fully 100% trust the company will honor your contract.

They are borderline ponzi schemes...most of the time you are better off just buying the equipment yourself, or buying off the market....or just buy and hold staking/masternode coins.

You can make so much more buying and setting up masternode coins....if you are willing to tackle a small learning curve.
kmantronix
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April 23, 2018, 07:11:00 AM
 #150

BTC. That was my plan since the beginning (and  i didnt expect at that time BTC to loose up to 70% of its value ... Wink )

Congrats on breaking even!  Smiley

Just to clarify... when you say you've got your investment back...

Are you talking about BTC or USD?


Hello,

Finally reached breakeven after 128 days ( to be compared to the 84 days forecasted at the beginning )

Currently because of the BTC price, fees are representing about 60%-70% of my incomes.
With the current BTC price & difficulty, i can expect to make about 0.47 BTC ( that s far from the initial forecast which was around 3 or 4 BTC )
In anyway that can only be better as i would expect the BTC price not to go lower.



IconFirm
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April 23, 2018, 10:18:52 AM
 #151


**cut the spammy blah**

So, HashFlare/Hashcoins create this shill account yesterday & post the same thing 16 times on every cloud mining thread in an effort to fool noobs into their cloud mining ponzi scam:

https://bitcointalk.org/index.php?action=profile;u=2053312;sa=showPosts

Proof enough to stay away from this scam. Neg'd & reported for fake account spamming.

PIA went evil: https://bitcointalk.org/index.php?topic=5203968.msg53160131#msg53160131 Unofficial & Uncensored SYSCOIN thread: https://bitcointalk.org/index.php?topic=4748031.0    Do not trust Yobit/HitBTC/BiteBTC/coinsbit/p2pb2b/Mercatox/C-cex/Poloniex/WEX/KuCoin/LiveCoin/TheRockTrading/Bitfinex/ADAB/Okex/TradeSatoshi/Gate.io/Changelly/Freewallet.org/crex24 scam exchanges or ICO's by known scammers like HashCoins/Ambisafe/Bountyhive - they WILL scam you! Use diligence & research. Buy coins, sell coins - don't invest in stupid shit. If your questions aren't answered - don't touch it.
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