Half a year ago when the Bitcoin boom happened, everyone were boarding the train! At that time i was ignoring Crypto as a whole, but started to move my eyes toward Bitcoin and learning about Crypto in general. So i joined Crypto at Bitcoin price around 10 thousand and started to search about Bitcoin Mining.
Everything was sold out or not profitable, like Genesis Mining or Bitmain charging 3000$ for an ANTMINER, but not Hashflare. Hashflare was juicy and so i decided to invest! At first the payouts were great as Bitcoin price skyrocketed to 20000$.
Hello January 2018!
This is where the problem was with Hashflare and with Cloud Mining in general. Crypto market bleeds, payouts drop and commission were like 55%, but the worrisome part is that if Hashflare cant give you payouts because of commissions and Bitcoin difficulty, they will put mining on hold for 21 days (read more).
So this is where Hashflare screw us. Right now commission is more then 80% with 1 year only contracts!
Do not invest in Hashflare!
For example you bought hash power at Hashflare for amount of 1 Bitcoin a year, but as the time goes and Bitcoin difficulty rises, you will only get 0.2 Bitcoin or less the next year!
Another option is just buying and HODLing Bitcoin. And with the same amount of money that you have invested in Hashflare you would have got 0.3 Bitcoin or more and on your wallet!
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