My first few days with Hashprofit.com

First off: This thread is not here to state that HashProfit is legit, or to say that they are a scam or a ponzi. I'm simply sharing my personal experience.

;TLDR. Read the log below

Hi all, I've been lurking around these forums for a while, this will however be my first thread. I just recently came back to mining after being gone for a year, a lot has happened, new algoritms, profit is down, new services has risen etc. So I felt really lost coming back.

However I realised my current living situation does not allow for the amount of mining hardware required for it to be on the level I want it to be, so cloud mining was really the only option to start mining again, profitable or not.

Next problem, tons of new services. One year ago there wasn't a lot of cloud services, now there is tons. I don't have a good reason for choosing HashProfit, they were just basically the first service I couldn't find much negative about.

Anyhow, here is my log from the first 5 days. Once again, not calling them legit, nor scam, just sharing personal experience.

LOG:
21/12-14 - 1325 KH/s
Expected payout: 0.00957 BTC
Payout: 0.00397850. for 12 hours of mining

22/12-14 1329 KH/s
Expected payout:0.00962 BTC
Payout: 0.00960024 BTC.

23/12-14 1331 KH/s
Expected payout:0.00971 BTC
Payout: 0.00980754

24/12-14 7995 KH/s I invested in quite a lot of hashing power here as the payouts have been very accurate and this is money I can afford to loose.
Expected payout: Hard to judge, was I bought new hashpower in batches.
Payout: 0.01627097 BTC(not really relevant either.)

25/12-14 7995 Kh/s
Expected payout: 0.05836 BTC
Payout: 0.05836350

So for the first few days I don't have anything negative to say, but 5 days isn't a lot either.. I will keep posting weekly updates if anyone is interested, until ROI at least, if I ever get there..

Over 'n out!

There is already an official thread, so there is no need for a new one. If everyone starts a new thread this board will be full of (HYIP/ponzi) spam.

BTW: ref. links are NOT allowed: https://bitcointalk.org/index.php?topic=177133.0

Quote from: eneloop on December 26, 2014, 06:30:06 PM

Referal removed, however I wasn't able to delete the thread to post in the official one instead.

Quote from: Fluppen on December 26, 2014, 06:37:07 PM

Quote from: eneloop on December 26, 2014, 06:30:06 PM

Referal removed, however I wasn't able to delete the thread to post in the official one instead.

Thanks for the payout review. Hash Profit comes at No. 2 by popularity at cmmonitor.com.

Its completely meaningless anyway. I can tell they are paying out just by looking at the money flowing in:

As long as that grows exponentially, the ponzi is healthy and there is no reason yet for them to run away. Of course that can (and will) change quickly.

Hashprofit is not a ponzi and i will give 1btc to anyone that can prove it is,me thinks my money is safe

it seems the website is not available now. 502 bad gateway. are u guys still receiving payouts from.the site

Quote from: coinmaster222 on December 27, 2014, 10:53:23 AM

Hashprofit is not a ponzi and i will give 1btc to anyone that can prove it is,me thinks my money is safe

And I will give 1BTC to anyone who can prove unicorns dont exist. Therefore, do you conclude unicorns are real?

Proving a ponzi requires proving a negative (that there is no, or not nearly enough hardware). You cant prove a negative, but its usually smart to make the assumption based on absence of evidence to the contrary. Whether its unicorns, teapots orbiting the sun or cloud mining companies

But since you pretend to be willing to bet, how about a 1BTC bet that within, say, 6 months, hashprofit will fail to honor its contracts?

I will take your bet,but until you come up with concrete evidence of any wrong doing please refrain from spouting your unfounded attacks against the company.If you have a question that bothers you just ask

And for information regarding the company status refer to official threat

Quote from: coinmaster222 on December 27, 2014, 12:18:29 PM

I will take your bet

excellent. Who do you propose as escrow?

As for the formulation of the bet, I propose: "Before July 1st 2015, most or all owners of hashprofit SmartMining contracts will no longer receive payouts that correspond to >50% of the theoretical yield of the nominal hashrate of these contracts on the largest scrypt network at that time (presumably litecoin)".

Doesnt really matter, if anything thats to your advantage because if scrypt mining where more profitable, surely you'd switch over. So Im lowering the bar.

I honestly now dont think you have a clue about the company,people who have smart mining GHS know exactly what there getting at that hashrate for the next two years.Scambuster you call yourself,so who do you deal with

Really ? Please enlighten all of us. What exactly are smartmining contract owners going to get over the next 2 years?

Each and every person who is a customer knows exactly there payout.Again I ask who do you mine with??

I cant tell at all what smartcontract owners will get exactly because I have no frigging idea what coins will appear in the next 2 years or how (un)profitable they will be. You say you do, please tell us? Thats what you're here for isnt it? "If you have a question that bothers you just ask ". Im asking.

Your faq states: "Our hardware supports wide range of crypto algorithms: Scrypt, Scrypt-N, X11, X13, Keccak and others.
At the same time our pools mine from 5 to 15 different crypto-currencies which are most profitable and promising at this time."

To simplify this for the escrow agent, Im basing the bet on just one single protocol and one single coin. its not at all certain to be the most profitable, so as I said, I lowered the bar.

so your saying the amount of money people get from smartmining 100GHS today will be less than half in july

Thats not what Im saying at all. Im sayng hashprofit will no longer pay out what 100GH should actually yield in July. How much that is, I have no clue, you said you do, even for the next 2 years, as does every customer of yours:

Quote

"people who have smart mining GHS know exactly what there getting at that hashrate for the next two years."

So why not tell me?

Besides, if you are unhappy with my formulation of the bet, feel free to propose your own.

You become a customer and find out and I have better things to do on a late saturday afternoon than argue with you