Recently I've been researching about mining cryptocurrencies and am thinking of jumping into it. I looked into the costs and logistics of buying or building a mining rig and though I feel confident I could build one, I'm not sure I want to be tied to one location as I would need to be if I had a rig plugged in somewhere.
That's when I discovered cloud mining companies that offer mining contracts. The two main companies I looked into were Genesis and HashFlare.
Genesis comes highly recommended but the only contracts they have left at the moment is for mining Monero. I want to mine Bitcoin so I looked into HashFlare and they have mining contracts for Bitcoin.
Their site looks very simple to use and you could start mining right away. Buying a cloud mining contract versus buying your own rig has it's pros and cons but that is a topic for another post.
What I want to know is, is anyone here on Steemit cloud mining, and if so, what can you tell me about this company, HashFlare?
It seems reputable from what I can gather online about the company. The only problems I have heard about them is they use a 3rd party to make the daily payouts and sometimes the payments get backlogged.
This is a little strange. The 3rd party they use is called block.io who brag on their homepage about the instant transactions they offer in their payment systems. This is bitcoin transactions we're talking about and while there are sometimes delays in transaction times it shouldn't take a week.
Customer reviews say they usually pay daily but sometimes there are delays of up to a week waiting for a payout. When I went to the Hashflare dashboard there is a notice the says payouts are temporarily suspended. Not a very good way to get more business.
From what I can gather on the company though people are making money with it mining Bitcoin and no one has complained about not getting paid.
I plan to reinvest earnings for the first 6-months into buying more hashing power so an immediate payout is not a deal breaker, but I want to know if this is really a temporary suspension or has this been a reccuring problem with the company.
They claim that it's out of their hands once the payment goes to block.io but choosing a 3rd party to handle their payouts that commonly have these delays seems like a bad business decision.
Does anyone on Steemit have experience using this company?
If so, what are your experiences using Hashflare? Any info you can share about them or suggestions of other companies would be appreciated. Thank you.
Here’s why you might want to consider cloud mining:
- A quiet, cooler home – no constantly humming fans
- No added electricity costs
- No equipment to sell when mining ceases to be profitable
- No ventilation problems with hot equipment
- Reduced chance of being let down by mining equipment suppliers.
- Risk of fraud
- Opaque mining operations
- Less fun (if you’re a geek who likes system building!)
- Lower profits – the operators have to cover their costs after all
- Contractual warnings that mining operations may cease depending on the price of bitcoin
- Lack of control and flexibility.
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I hope to make more clear for you if Hashflare is the correct Could Mining company for you.
My experience with Hashflare
For some time (maybe 4 years) I’ve around Bitcoin and other cryptos mining but only more recently I decided to invest.
Why I took so long to start mining?
First, start a mining operation in Portugal or Italy (where I live) is not profitable because of the electricity price.
Second, I guess for some time I was concerned with the online Cloud Mining Scams. A couple of years ago, the internet was flooded with bad comments about cloud mining accusing most of the companies of being scams. Even nowadays, there are a lot of people at BitcoinTalk that say that Genesis Mining is a Scam while Genesis Mining is the biggest mining cloud operation in the planet. 100% legit.
Now that I made a really deep research work, I’m sharing some information that some of you may now but others not.
Why I choosed Hashflare as my main cloud mining investment
Hashflare is a cloud mining company (maybe the second biggest) with headquarters in Estonia. It was founded in June 2013 under a company with the name Hascoins.
Hashflare mining operation location is not known for safety reasons. However you can check photos of their mining operation on their Instagram profiles:
You can also check that the company exists here:
I’m just sharing this to the guys that just arrived to the mining market because for me it is pretty clear that they are a robust company.
Well, let’s move to the next chapter
Hashflare mining contracts
Hashflare offers excellent ROI - Return on Investment in the following mining contracts: Scrypt, Sha-256, Ethash, Equihash e X11. At least, comparing with other mining companies, the price of the hashpower is pretty good.
At Hashflare you can try to follow the diversification strategy: split your investment into different mining contracts, mining different cryptos and not only Bitcoin.
If you have a long term investment view, with the diversification you raise you exposure to other cryptocurrencies that may grow in the future. In the long term I believe pretty much that currencies like Ethereum, Dash and Bitcoin will increase a lot their value.
This is the allocation that I’m actually using at Hashflare. However I plan to increase SHA-256 investment once I concluded that this contracts should be the most profitable and with the best ROI and payback period. At the same time I’m a believer. I believe as much as John McaFee that Bitcoin price will it $ 500 000!
At this moment, it looks that X11 (Dash) are more profitable BUT you need to have into account that X11 and ETASH contracts at Hashflare are 1 year term contracts! In the other hand, SHA-56 contracts are lifetime contracts. This means that as long as the contracts are profitable they will be mining for you (and i believe they will keep profitable for a long time once the growing mining difficulty is usually accompanied by the Bitcoin growing price.
Other advantage at Hashflare is that you can actually choose you SHA-256 mining pools allocation! This is pretty cool because their are some pools more efficient than others and you as client can choose what’s best for you. This is my pool allocation at the moment.
What’s Hashflare ROI
This is important to make your investment decisions. Please don’t trust 100% on those online mining calculators.
Well, translating, you need to understand that the ROI of each mining contract is attached to the value of the cryptocurrency that he is mining. However, it looks that the best ROI belongs to X11 mining contracts. Why? I still need to figure out why while i do the math with the mining calculator the best mining contract is SHA256 while in the reality X11 looks the best.
Please don’t forget that X11 is 1 year contract.
I’m a truly believer that with the correct strategy you can get 100% ROI in the first year. HOWEVER I also believe I didn’t found that strategy yet.
I will keep you updated about this.
By the way, you can start mining at Hashflare with investments as low as $2 so… you don’t need to wait a lot to try right?!
And if you use my discount code you will get 3% off: FDE616B8.
By the way. This articles may interest you:
Could Mining BTC, DASH, ETH - Best ROI Strategy: https://steemit.com/cryptocurrency/@bitatlas/could-mining-btc-dash-eth-best-roi-strategy
Cloud Mining ROI - What if Difficulty DOUBLEs: https://steemit.com/cryptocurrency/@bitatlas/cloud-mining-roi-what-if-difficulty-doubles
Cloud Mining ROI - Compare them ALL: https://steemit.com/cryptocurrency/@bitatlas/cloud-mining-roi-compare-them-all
Hey, do whatever you think this post is woth oki? :)roubar bitcoins hacker experience.
HashFlare Review - Cloud Mining Directory
Hey, this is one of these questions that get asked all the time. Here i will give you my own thoughts about it. And the first one is: Cloud mining is the best bitcoin investment you can do!
if you want to get into cloud mining today!
Cloud Mining is profitable. I do invest into cloud mining for about 1 1/2 years now. Mainly i useas my mining income, be sure to check them out. They generate me about $80/day and i’ve only invested $4,500. You won’t have to put in that much tho. Hashflare is giving you a one year contract with any investment you make, that means any money you invest will bring you profits for 1 year. Any money will do fine, here is some example math:
They charge $1,50 for 10 GH/s in SHA-256:
- Daily Return: $0.02
- Weekly Return: $0.16
- Monthly Return: $0.69
- Days to break even(earn back $1,50): 65 days
Now let’s say we are going to invest $1,000.
We will invest $1,050 for 7000 GH/s (7 TH/s):
- Daily Return: $16.21
- Weekly Return: $113.47
- Monthly Return: $486.30
- Days to break even(earn back $1,050): 65 days
Some more examples:
- $500 Investment can bring about $229.26 per month.
- $1,500 Investment can bring about $694.71 per month.
- $5,000 Investment can bring about $2,292.56 per month.
- $10,000 Investment can bring about $4,654.59 per month.
- $15,000 Investment can bring about $6,947.14 per month.
The thing is
You can still reinvest all of that money on hashflare. That will make you more money and extend the mining contract for another year for the specific invesment. If you invest for example $15,000 for 100TH/s (100,000 GH/s) then you could earn more then $4241,72 per week after the Week 10 and the initial investment according to the currect bitcoin price that got calculated by.
Once you build trust into hashflare you can also recommend it to friends or family. I personaly have many friends who invested into hashflare. You can get an easy 10% commission for each purchase your referral makes. Be sure to check out their affiliate system.
Enjoy it.как вывести деньги с bitcoin 2048.
Hashflare mining calculator with adjustable price and .
During these early days and uncertain times when bad actors are being shaken out of the cryptocurrency community it is comforting to know that Hashflare has built a strong reputation as a safe and secure company to purchase cryptocurrency cloud mining contracts from. The few times I have requested support from Hashflare they have been professional, super friendly, fast and efficient. Best of all, I consider the support team as friends: I can contact them anytime to enthusiastically discuss all things bitcoin. I've been recommending Hashflare to all my friends. What I like about Hashflare is that platform processes the withdraw requests instantly with no human interaction. Well, I want to tell you that I am TOTALLY impressed with what your company has done in just the last few months! The website is awesome looking, your service reps are easily able to communicate with users on support questions. I quite frankly am very proud of you all and realize -- YES, I made a great decision by investing in cloud mining on HashFlare.io. My wish is to be with you in business for a long period. Thanks, you are indeed the best! KEEP IT UP!
— Tshepo M.аналоги фрибиткоин.
Hashflare.io Review - Hyip Monitor
Never invest a big amount on the same investment at once. If you really beleive in Hashflare Ethereum contract you can go for 22k USD. However, you should divide your payments into at least 5 different buying occasions. I wouldn´t invest such a great sum in one single contract with one single cloud mining operator. Consider also Genesis Mining for example. Also, consider another coin for cloud mining. I would also consider another option for investment just to diversify. I have found margin lending at Bitfinex is very good (I have used that service for over a year). Cloud mining I have used since 2014.
Find 2–3 different investments (cloud mining and lending)
Find 2–5 different ways to diversify each investment (Different contracts at Genesis Mining and Hashflare, Try margin lending at Bitfinex and Poloniex)
You don´t want to diversify too much since it takes energy to keep track of everything.
You find discount codes and more information about cloud mining here:
You find more information about lending here:
conversor de satoshi a bitcoin.