Hey Guys so I bought a 10 mh/s cloud mining ether contract on hashflare for $220 USD on 5/24/17 and want to share my results from this single contract.
Alright after 20 days I have done two withdrawals for a total of roughly .156 ether with the price of ethereum around 382 right now. It is roughly 60USD back so far. Little over 25% of investment recouped in 20 days.
Very curious to see if this will continue to be profitable or will the price fluctuations and increased mining difficulty play a strategic role. Let me know what you guys think and if you need 3% off a hashflare contract here is my code : FDAC8DCE
Join Hashflare here: https://hashflare.io/r/FDAC8DCE
I think nowadays altcoin mining become faded. Since mining is not a good solution for scaling up the altcoin. The altcoin is going to change from POW to POs. And there are more and more ICO with fixed amount of tokens. So the future of mining is not so optimistic...
@tinytaruen have any favorite ICO's you would like to share?
Researching Hashflare now, I've been all over Genesis for a few weeks and loving it, but always open to new stuff!
seems to be worth it so far!
Glad you think so, I am just starting to get my larger payments rolling through from genesis.
Genesis has 2 years contracts but they costs more, so in short period HashFlare should be more profitable (comparing ETH contracts)
You have a point Jack, save the money on shorter term contracts with ETHs crazy rise right now and get more profit, I get that for sure. I am thinking ETH will boom for a long time, so looking to get up to 50 at least MH/s by July on GM for 2 years and long run is looking good. I love everyones advice and strategy.
Also we should take in account Ethereum switching to PoS in some future, but not enough info atm. But i think it will be in 2018 so i talked about 1 year.
Genesis will switch ETH contract to another crypto in case of PoS, hashflare - i don't know.
Yeah GM would just switch it over and we would lose nothing, I am thinking building my ETH contracts and then just transfer out the ETH as full coins to my coinbase and then go with the flow once the eth contracts switch on GM.
I asked HashFlare support about it. They said that they will make official announce when will be more info about PoS and will switch to another crypto (like Genesis)
Yeah, same thing from GM, I don't think we would be at risk to lose anything but just a "credit" of contracts to go to another allocation.
Mining up on Hashflare now, you want to know another reason I'm feeling pretty warm and fuzzy working with them now? Check out my experience with their support in this blog post I did yesterday. It's also good to see others seeing good returns, I sent you a follow if you want to do the same in return it is appreciated. Take care and good content!