Its 1 month (31 Days – 5th Jan 2018) since I took out the HashFlare mining contract and so I thought I would complete a review to see how my investment is coming along. For very little effort on my behalf I must say this is going great. I log in every few days to check my balance is Ok and so far all seems well. They did have some issue around delayed BTC payments but this was due to block chain delays rather than HashFlare themselves having issues.
I wanted to have a detailed page covering what was spent and what was earned and projected, so I can look back in 6 months and compare the results. There are plenty of YouTube videos showing this but they all seem very quick and clicking about and don’t really show the detail.
I see a lot of FUD and people shouting “HashFlare Scammers” etc on Twitter and other social media but I disagree. So, far its been a smooth process and I am very pleased with the results. I created an account, update all my profile, sent them some BTC (it did take 3 days to be confirmed before the Hashing started, but they started my contract the day the Hashing started and not the day the payment arrived) My hashing started and I waited for the BTC to roll in
HashFlare 220TH/s Contract
I started of on HashFlare with a contract of 40TH/s recommended to me by a friend, this actually got me into some bother with the wife but once she could see the results she was sold and suggested we buy some more hashing power. Personally I think she is fed up with all the low hum from the super quite miners around the house and she want shot of them
My initial purchase was 40TH/s on 4th Dec 2017, I then followed this with a 180 TH/s contract on the 8th Dec 2017. Bringing the total HashFlare Cloud Mining Contract to 220TH/s
Very Pleased with the results so far but do not believe the projections HashFlare show on the dash board, these are calculated on the day and nothing more. I cover this in another post but here is the current forecast from HashFlare:
I purchased both contracts when HashFlare was selling at $1.50 per GH/s, they are now selling at a much higher price of $2.20 per GH/s
40 TH/s = 0.4855 BTC
180 TH/s = 1.9872 BTC
Total 220 TH/s = 2.4727 BTC
HashFlare Pay-outs
I have my account set to “Do Not Reinvest” and so I manually pay-out when I log onto the portal to check my balance. Due to the high fees at the moment I will pay-out manually once a week on a Sunday from now on. I don’t plan to cash out to FIAT right away so I am not fussed if the payment take a few hours to arrive, I know it will arrive eventually as I have had 3 payments from them so far.
I cover the reinvest v HODL on another post here: HashFlare reinvest v HODL (coming soon)
There is no referral bonus on these numbers, just the pay-outs from the pure 220 TH/s Hashing power.
| BTC Amount | |
|---|---|
| SHA-256 pay-out | 0.87844374 |
| SHA-256 maintenance | 0.13804886 |
| Total Pay-out | 0.74039488 |
This screen shot covers the pay-outs from the last 12 days, screen grab will not allow more but this is enough to give you the idea on daily payments. These are into the online portal wallet and not your local wallet, that still needs to be processed manually.
HashFlare Return on Investment (ROI)
With a payment of 0.74 BTC into my wallet after 31 days I can speculate from experience what the ROI will be about 4 Months. Its actually really hard to work out what the block chain difficulty will be in 3 months time and very hard to calculate what the payments will be. Its practically guessing 🙂
Online Calculators like CoinWarz that so many people show on YouTube are just showing you the calculations from the day times by 365 Days. This is not a forecast for the year, its not even a projection.
If I receive 0.74 BTC on month one, the following months will have a diminishing return.
Difficulty increases about 10% every 2 weeks on the BTC Block chain, meaning the pay-out will go down 10% in line with the difficulty increase
Based on this I am going to speculate that the ROI is 4 months and after that the last 8 Months will be my BTC Profit what ever that will be, we wont know until then, but it wont be the “Revenue forecast” on the HashFlare dashboard. I am guessing another 1.8 BTC to 2.0 BTC profit in the last 8 months
This is still a great ROI for doing absolutely nothing apart from a little bit of admin work
Next update on HashFlare ROI will be, end of March 2018