Who's investing with CLOUD MINING companies (Hashcoins/Hashflare, Genesis Mining)?


#61

Full disclosure. I have 2 contracts with Hashing24. Both 10 TH/s, starting from mid and end of August.

To be honest, when BTC fell to 3k levels, I honestly thought this was it. It was going to take forever as the management fees eat through a chunk of the daily income. Fortunately, it held together, generating at it’s lowest, about 150k sats per contract.

Honestly, I wouldn’t get another contract from any of the mining sites. While there is some small advantage if the price of BTC drops, the contract needs to be at a sufficient hashing power to offset the management fees to make it worth something. Once the fees continuously eat through the daily income, the only ending you have is termination of the contract.

As of now, the first contract would still need to mine 0.43 BTC for it to equal the amount of BTC I would have had if I bought the coins directly at the time I started the contract.

With the adjusted difficulty etc now, after fees, daily is about 170k sats. Put simply, it will take a very long time but as long as the price of BTC doesn’t dive far below 3k USD, it will continue to generate something for as long as the company exists.

Unfortunately, hashing24 now no longer does lifetime contracts and have switched to a fixed term one instead. I guess in that sense, I’m quite lucky. But being one of the more expensive cloud mining services to begin with, I really do not think it would be wise to buy into it especially since the new contract expires.


#62

I invest to cloud mininng company zumminer.


#63

I read all the comments here but most of you dont mention what hashpower you got.
After reading and calculating my own contract (40TH) from GM i can see that the more hashpower you buy the more profitable and better ROI.
People buying a few hundred dollar or even a few thousand will most likely loose. If you get something like 100TH costing 0.8 BTC you get the amount back in less than 2 month. That is hard to beat.


#64

I Have contracts with GM and HF; both have been paying out well. Make sure if you invest in GM you change the withdraw wallet frequently though because it will flood you with small tx and increase tx fees. HF has halted withdraws a lot recently and is still somehow selling hashpower which is scary for a number of reasons.
If I had to put my money on 1 I would go with GM, even though I can still buy hash from HF and not GM; the warnings are just too much for me to trust they’ll be paying out for long.


#65

I second this. I’ve been with HashFlare for a couple of years and earlier this year they converted all of their lifetime contracts to 1 year contracts. Technically it was in their license agreement to do so, but it left a very sour taste in many users mouths. Shortly after that they really started hitting payout delay issues and have increased their minimal withdrawal limits to make it hard for a “small time miner” like myself to work with. I’m fortunate enough that my contracts have been profitable for quite a while now, but looking for somewhere to restart with for when these contracts expire


#66

I have been with Hash Flare for the last 22 days, I have received 25% of my investment back. If all goes well im looking at around 9 months of profit.


#67

Anyone seen Genesis Mining payments come in last couple of days? Last one 17-01, get paid out daily (i know thresholds were raised but that shouldn’t matter in my case).


#68

How many Th do you have?


#69

The only people who get a good return are normally people with 25Th and above, because their payouts are set so high if you have less than 10Th you’ll be waiting almost 4 to 6 months for your first payout, if your goal is just to accumulate bitcoin and dont mind waiting to take a single big payout then it may be perfect for you


#70

Any advices from more experienced cloud miners please? I’ve been seeing such websites that provide some sort of a hashflare scrypt codes that are said to give some benefits. Are they even worth using or is it just a scam? Thanks for any advices.


#71

I don’t believe Genesis Mining or Hashflare are scams. I just don’t think they are good investments.


#72

Yes, Cloud mining is dead for now, but i hope genesis and HF will operate again soon


#73

why did you want 2 withdraw money? for me it is too hard better 2 wait for 2019


#74

so how’s your profits now?