Hey Robert, I was wondering, are the prices seen in yellow a one-time cost for the year per base hashrate? For example, I purchase a 1 year contract for SHA-256 for the base 10 GH/s hashrate. Do I only pay the $1.40 per 10 GH/s for the whole year of the contract + the maintenance fees?
Moshe, thank you for your insightful comment. My mining payout from Genesis and Hashflare fluctuates daily and changes value depending on the increase or decrease in the price of Bitcoin. Increases in the difficulty of mining will affect your profits, but not as much as people expect. However, as the mining difficulty increases, so should the amount of Hashpower you invest in. If 10 TH is paying $20 daily today, you might need 10.5 TH in the future to produce that same $20 a day.
Really like your videos, Robert. I noticed you invested more hashing power using BTC/USD from Coinbase. On HashFlare they have the option of buying more hashing power by using your mined BTC in your HashFlare account. Can you comment on using mined BTC in your HashFlare account as opposed to using BTC/USD from another account to pay for additional hashing power? Good/Bad/Neutral outcome? Would you recommend a certain amount of mined BTC in one's HashFlare account to reinvest? HashFlare has the reinvest button, but it seems to me if everything goes to hell in a hand basket, you're left with just purchased hashing power and little to no BTC. Thanks in advance and keep up the good work.
Thomas, thank you for your excellent questions! When I first started with Hashflare back in August I paid for my first couple of terra hashes with my credit card. I also paid for a few more terra hashes with Bitcoin from my Coinbase account. By the end of August, I had a total of 9 terra hashes. And now? I have 33 TH/s from a combination of reinvests and some very nice affiliate bonuses. Since Hashfare pays their affiliate bonuses in Bitcoin which sits in your available balance, it was a no brained to transform that $3000 in affiliate bonus money into 20 TH/s more power. I am telling you this in the interests of full transparently. If you purchase 10 or 15 TH/s it's very easy to ramp up your mining power. For example, 15 TH/s of power will net you about $900 per month which you can convert to 6 more TH/s of mining power giving you 21 TH/s of power. As you can see, if you reinvest part of your profits back into Hashflare each month you can make money and your mining power exponentially. So is this Good/Bad/Neutral? It's most definitely GOOD!
Great video Robert have looked through a few hasflare vids on youtube and signing up under you' as by you responding to comments make me believe that if one gets stuck I can come to Rob for assistance. Who better to sign up under( you sir) Going in with $300 of sha 256. Are you still offering the discounts?
Thank you for signing up under me. I am glad to help out with good service. As for the discount, I am not sure if using the link will result in a discount or not. You should see any discounts applied during the checkout process.
CryptoRobert thank you it does not really matter Rob. am currently finding my way round the site and looking for my ref link to start promoting it once i have bought.
So if I buy a contract now then upgrade it next month. Do I only get 11 months on the upgrade? Or does it start a a whole new contract for the upgraded amount?
George, each contact get's it's own separate 12-month term. So, if this month you purchase 1TH at $150 that's a 12-month contract and if you buy 2 TH for $300 next month that is also a separate 12-month contract. You can buy 1 TH per month for 12 months and have a total of 12 TH of power in month number 12. If you want to maintain that 12 TH of power in month 13 then you will need to purchase another 1 TH of power to replace the first 1 TH of power that expired from that first purchase. I hope that this explains things a little better.
CryptoRobert I stopped contributing to my 401k. You only live once. At the rate of the us economy I’m going to need to have over a million dollars saved in 401k at the age of retirement to scrape by. I’m 27 now I’ve done all the retirement calculators and hoopla. Which leads me to believe that even at the age of retirement I’ll still have to be working well past that, so shoot for the moon. You only live once.
J LIN, I admire your bravery. Who really would pass up on this amazing opportunity? However, once you make your first crypto million please diversify your assets. If anything, a 401K is a great tax haven. It can help you avoid paying higher taxes resulting from your crypto wealth. Have fun!
Project Khordi, I have just been focusing on Bitcoin for now. I do like Etherium and Litecoin, only because the network fees are so low. When I need to cash out some Bitcoin for cash, I usually convert my Bitcoin to Litcoin in my Exodus wallet and then send the Litcoin to Coinbase for just a couple of pennies. On Coinbase I just sell the Litcoin back to my Bank or PayPal account. It's a useful Crytokack that avoids the high Bitcoin network mining fees.
Hello I made a purchase for some hash power. I did the stops just like you did but now that my BTC is sent when I go to history on hashflare it says "timed out" what does this mean? Will I get my money back or is it just going to take a while longer? They revived the BTC on the wallet they told me to send it to? Do you have any idea or opinion on what might happen? Thank you for the video and any response.
When did you make your purchase? I got the same message od "timed out" only to discover that it was a technical glitch. When I logged back out and in again I saw the extra hashpower applied to my account. Please let me know if you get the hashpower you purchased applied to your account.
You can do that. However, I choose to accumulate my Hashflare earnings in my private Exodus wallet. Only when I want to convert my Bitcoin to U.S. Dollars do I then send it to my Coinbase account. I have nothing against Coinbase, I would just rather hold my earnings in my private wallet.
It's logical they had to change the contracts to 1 year. Unlimited contracts were unsustainable. It would have allowed any user to reinvest for 5 years using compound interest and gain orders of magnitude more hash power. That's physically impossible to sustain, especially considering the number of users on HashFlare.
Adi T, you are 100% correct. The changing of the contracts to one year guarantees the long-term sustainability of Hashflare. You have to look at it from their business perspective. No business can sustain itself and grow without a regular inflow of cash. How else could they pay for new equipment, staff, the electricity it takes to generate all that hash power? Money and more of it every year. I would not be surprised to see Genesis mining following suit and ending the open-ended contracts and changing them to 2 or 3-year contracts.
Why are you leaving the power amount in your calculation? There is no power cost with hashflare and the pool maintenance fee is around 16-18% not 26% as stated. So the profit should be more. Just saying. Question: Is there a fee for withdrawing BTC?
gadaffi1000, thank you for that keen observation. I do believe that I made a mistake with the coinwarz cloud mining calculator. The 26.5% pool fees include the electricity and maintenance costs for your contracts. In a future video, I promise correct this mistake. Good eye on catching this!
I made a purchase at hashflare and the purchase transaction on their website shows failed due to timeout, but the money got debited from my account. I havent heard since 6 days from hashflare after i filed a ticket.
Same thing happened to me. I bought with a debit card and payed 1500 dollars, its been 28 days and still no refund. However I have paid with bitcoin for another contract and it was successful. Ask your bank to credit you, my visa process takes 14-30 days, so the money will be refunded to me by the bank. So basically hashflare did not really take your money, it is on hold by your bank, contact them.
I agree, I am not a fan of these minimum payout amounts but you have to see this from their perspective. If they allow withdrawals worth $25 USD and it cost them $15 in Bitcoin network fees, you an easily see how that is a losing proposition for them. While I don't like having to wait to accrue over $150 worth of Bitcoin per withdrawal, there is very little you and I can do because it's their right to set the terms of payment. I am pretty sure that they have this provision covered somewhere in their terms and conditions when you purchase new contracts.
Yes, I am planing on handling the tax implications of Bitcoin and Cryptocurrencies in and upcoming video in early January when people start to think about doing your taxes. I am in the research and development stage of his video taxes are not always a straightforward topic. Thanks for the question!
I don't think it really matters regarding the exact pool fee for each pool. To calculate my profit I just substrate whatever my Hashflare dashboard is telling me by 26.5%. So if the Hashflare dashboard is saying that you are making $35 per day you are really making $25.72 net profit.
DankWave, the maintenance and electricity cost will change depending on the amount of hash power you purchase. The "pool fees" as they are called are about 26.5%. So, for example, if you purchased 7 TH/s for $1050 that would gross $7143 but you would make about $5200 after factor in the 26.5% pool fees. I hope better explains things.
Ryan, I think the $250 worth of mining power is a great investment. Buying Bitcoin as this high price is pretty crazy. That $250 will mine about $1200 worth of Bitcoin is 12 time which is around 490% ROI. If you were to apply a level of appreciation to Bitcoin, the BTC price would have to go from $16K per Bitcoin to about $80K. It's certainly possible that Bitcoin will go up 490% by the end of next year but probably not. In the end, it's your decision as to where your money is best spent.
Well if I were to decide to buy BTC instead of a contract I would definitely wait for the price to go down with a high trade volume... I bought $150 of BTC@9,000 a while ago and was happy with my returns but I know that that type of return is pretty unusual. So at this point im probably leaning towards buying a HS contract and then waiting to buy more BTC later.
Melinda, thank you for that valuable feedback. Yes, I have a new microphone and I must admit, I am getting used to the volume settings. In one video, the volume was too low, and apparently, in my last two videos, the recorded volume is too high. I will give this issue top priority in my next video. Thanks again for your valuable feedback!
I like the video, however, I do have one suggestion. Every time you put your hand down on your desk it makes a banging sound. It is not a welcome sound for headphone users. ;-) Keep up the grind
Dru312, I am so sorry about that. You know, I bought this super awesome RODE USB microphone and it's super sensitive. The mic even picks up my neighbor's heavy footsteps! I will be more mindful of this hand banging issue in future videos.
And its over...................crypto and third parties do not mix, download a miner, run whenever your not using your computer and mine to a wallet that you hold the private keys. If it stops being profitable ebay your gpu and get your money back. You can bet that hash flare is still mining with the s9’s their customers bought them and while the profits are low they are pure profit for hash flare who got the equipment for free.
Alex, I hope you don't mind, but I am copying and pasting my Biconnect comment from yesterday to save a little time. To quote myself: "thank you for asking for my thoughts on Bitconnect. Actually, I have a video in the works which will be all about Bitconect and how to make money with the program. Truth be told, I have several thousand dollars invested in Bitconnect so I do have faith in the system so far. They have been consistently paying me since September of this year and I have never had reason to doubt the program despite the civil war going on in the UA-cam community regarding this popular program. What does Bitonnect have going for it? Plenty. First, they have their own Cryptocurrency, the Bitconnect token which, accoring to coinmarketcap.com has a market capitalization of 1.1 BILLION dollars. Also, the Bitconnect platform itself has been rock solid since March 2016, almost 2 years now. How long can Bitconnect last? I have no idea. And guess what? Niether do the other UA-camrs who are making videos trashing Bitconnect calling it a Ponzi scheme just days, weeks, or months waiting to collaspse. These are the same arguments some on UA-cam have been making since I started with Bitconnect in late August. All I know is that I have taken $4300 of my original investment and made $4723 so. And remember, when you lend your money to Bitconnect you get ALL of your original investment back in 299 days so I am not only making all of this interest, I am getting all of my seed money back as a capital release. Sorry for the long comment, I just wanted to be thorough."
I am not having any trouble at the moment. Last week I made a withdrawal of $280 form Hashflare. However, due to a huge backlog of Bitcoin transactions, the withdrawal did not hit my Exodus wallet for 4 days which was a rather extreme case of Bitcoin transaction confirmation backlog.
I think it is good value for your money. Like you are doing, re-investing brings a lot more then just let it rest. Even with the contracts reduced to one year, you are able to get a nice income from hashflare.
Sjaak, yes, you are correct. The value of re-investing is very powerful. If you plan carefully enough, and consistently buy more hashpower throughout the year, you can keep your overall hashpower steady rather then let the contracts completely stop after 1 year. So if you want to maintain a goal of 50 TH on Hashflare then you will need to reinvest a percentage of your profits each month to avoid a complete stoppage of mining payouts.
It decreases depending on the increase in difficulty. From dec 2016 to dec 2017 there was around 400% increase in difficulty. This effects the profit alot
Mounika, the mining difficulty will decrease your profits, but not by as much as you think. The biggest profitability factor with mining is the price of Bitcoin. If the price of Bitcoin remains high then your profits increase. If the Bitcoin price tanks then your mining profits decrease as well.
Mathew, that's a great question. After looking into this, a $100 investment in Hashflare Bitcoin SHA-256 cloud mining program will net you $1.18 per day, $8.26 per week, $35.41 per month and $430.83. At the current price of Bitcoin you will make your $100 investment day in about 85-95 days or 3 months. In other words, you will have 9 months of pure profit on this contract. In my opinion, this is a very good deal. I would take advantage of the sale before it ends on December 4th.
£3000 is equal to about $4000 which will buy you 18 TH/s at $220 per TH. This will make you about $900 per month. You will make your £4000 back in about 110 - 120 days. Remember, Hashflare sells only 1 year contracts.
Informative video. Out of curiosity, do you only invest in SHA256 or will u be investing in other algorithms from hashflare as well as what are your thoughts on other cloud mining algorithms through them?
Thank you for asking the question. Currently, the SHA256 is the most profitable contacts due that high price of Bitcoin. While I really like Etherium and Litecoin, these contacts are not as profitable as Bitcoin. After I do some extensive research on the total ROI on the other coins, I will put a video discussing the pros and cons of buying non-Bitcoin contracts.
CryptoRobert thank you for the reply. I personally invested a bit into etherium, n while not as profitable as sha256, it's returns are still decent enough for me personally... Looking forward to the next vid
Great video CryptoRobert! I recently bought a contract with Hashflare and noticed the minimum BTC witdrawals are now 0.05 but I thought I read somewhere that BTC withdrawals are temporarily suspended until further notice. Can you confirm if you can indeed withdraw 0.05 BTC at this point in time? It's going to take several months for me to reach that limit so I can't try a withdrawal at this time. Thank you
Yes, sadly Hashflare has there 0.05 BTC withdrawal. I have been invested with Hashflare since August and they have never failed to pay me. It's stinks to have such a high payout minimum however.
New York City represent! LOL. I am a native New Yorker and lifelong Brooklyn resident. I am glad to share my knowledge of all thing Bitcoin and Cryptocurrencies.
silentmajor, thank you for reaching out to me with your Bank Transfer payment difficulty. Truthfully, I have not experience paying with a bank transfer. I usually pay for my Hash power with BTC or my credit card. Can you give me a little more detail (without revealing anything confidential) able the specific instructions you are having difficulty with?
Yes, agreed. Withdrawals do take a lot of time. My last withdrawal from Hashflare took 4 days to complete. Hashflare realizes how annoying this is and are working on fixing the problem.
You have to keep in mind when this video was produced which was on December 1, 2017, when Bitcoin prices were pretty high. The Bitcoin mining profitability will ebb and flow with the current tide of the Bitcoin price. Just because the price is lower right now, does not mean that I value my mining contract any less. My 55 TH/s is not making as much money as it once was, but then again, if the price of Bitcoin rebounds in the next couple of weeks then I will be right back where I was. However, in both cases, whether the price of Bitcoin is high or low, I am still making thousands of dollars on my contract.
Highwic, I am very sorry about the trouble that you had with Hashflare. Let me ask you, have you contacted customer support at Hashflare? They are usually very helpful when it comes to these payment verification issues.
George, there is no pool on the Blockchain info website called "Hashflare" in the same way that there is not "Genesis-mining" pool. Their hash power is pooled together from several pools including AntPool and many. Within the Hashflash dashboard, you can allocate the different percentages from among the numerous pools they contribute to.
Shaik, I have been enjoying the "fake" money they have been giving me since September. Nothing is guaranteed, but you might as well enjoy this ride for as long as it lasts.
There is some intermittent connectivity issue related to the MASSIVE about or interest in Hashflare. Their servers are practically exploding due to new user volume. They are just trying to do their best to handle all of the volume. They have not been hacked. At least not as far as I know. It's also one of the reasons that Coinbase is experiecing outages today due to the torrent of volume also flooding their servers.
EKAssist, stop spreading FUD. Hashflare was not hacked but doing server maintenance to handle the massive load of new customers. They are back up and running with no issues.
Lutz, a $1000 mining contract of 7 TH/s will make you about $5000 per year. That's a fantastic 500% ROI. As long as you reorder that 7 TH/s for $1000 you will continue to make that money.
Aston, OK, let's do some math. As of right now, December 6th, at 10:43 AM New York time, one Bitcoin is worth $12,900. For $12,900 you can buy 86 Tera Hashes of Bitcoin mining power. How much can you net in one year? After, expenses you will stand to make $55,845 in profit which is over 300% profit. In just 3 months you will make back your entire Bitcoin priced at $12,900. In my opinion this is one of the best legitimate Bitcoin investments today.
Hey Robert, I was wondering, are the prices seen in yellow a one-time cost for the year per base hashrate?
For example, I purchase a 1 year contract for SHA-256 for the base 10 GH/s hashrate. Do I only pay the $1.40 per 10 GH/s for the whole year of the contract + the maintenance fees?
Don't expect your daily profit to stay constant. With mining difficulty constantly increasing, Bitcoin's value has to increase proportionately.
Moshe, thank you for your insightful comment. My mining payout from Genesis and Hashflare fluctuates daily and changes value depending on the increase or decrease in the price of Bitcoin. Increases in the difficulty of mining will affect your profits, but not as much as people expect. However, as the mining difficulty increases, so should the amount of Hashpower you invest in. If 10 TH is paying $20 daily today, you might need 10.5 TH in the future to produce that same $20 a day.
I saw a spreadsheet where a guy calculated and compared hashflare to a few other companies and the total gain is 33% not as he said with 200% or more
I have 300 btc you think is goo pure in the mining in hasflare
I am sorry, were you asking a question? You have 300 Bitcoins?
Really like your videos, Robert. I noticed you invested more hashing power using BTC/USD from Coinbase. On HashFlare they have the option of buying more hashing power by using your mined BTC in your HashFlare account. Can you comment on using mined BTC in your HashFlare account as opposed to using BTC/USD from another account to pay for additional hashing power? Good/Bad/Neutral outcome?
Would you recommend a certain amount of mined BTC in one's HashFlare account to reinvest?
HashFlare has the reinvest button, but it seems to me if everything goes to hell in a hand basket, you're left with just purchased hashing power and little to no BTC.
Thanks in advance and keep up the good work.
Thomas, thank you for your excellent questions! When I first started with Hashflare back in August I paid for my first couple of terra hashes with my credit card. I also paid for a few more terra hashes with Bitcoin from my Coinbase account. By the end of August, I had a total of 9 terra hashes. And now? I have 33 TH/s from a combination of reinvests and some very nice affiliate bonuses. Since Hashfare pays their affiliate bonuses in Bitcoin which sits in your available balance, it was a no brained to transform that $3000 in affiliate bonus money into 20 TH/s more power. I am telling you this in the interests of full transparently. If you purchase 10 or 15 TH/s it's very easy to ramp up your mining power. For example, 15 TH/s of power will net you about $900 per month which you can convert to 6 more TH/s of mining power giving you 21 TH/s of power. As you can see, if you reinvest part of your profits back into Hashflare each month you can make money and your mining power exponentially. So is this Good/Bad/Neutral? It's most definitely GOOD!
What time do they pay out daily? And do you need to request the Withdrawal daily or is it automatic?
have you looked into skymine and if so can you please tell me about what you find
Great video Robert have looked through a few hasflare vids on youtube and signing up under you' as by you responding to comments make me believe that if one gets stuck I can come to Rob for assistance. Who better to sign up under( you sir) Going in with $300 of sha 256. Are you still offering the discounts?
Thank you for signing up under me. I am glad to help out with good service. As for the discount, I am not sure if using the link will result in a discount or not. You should see any discounts applied during the checkout process.
CryptoRobert thank you it does not really matter Rob. am currently finding my way round the site and looking for my ref link to start promoting it once i have bought.
So if I buy a contract now then upgrade it next month. Do I only get 11 months on the upgrade? Or does it start a a whole new contract for the upgraded amount?
George, each contact get's it's own separate 12-month term. So, if this month you purchase 1TH at $150 that's a 12-month contract and if you buy 2 TH for $300 next month that is also a separate 12-month contract. You can buy 1 TH per month for 12 months and have a total of 12 TH of power in month number 12. If you want to maintain that 12 TH of power in month 13 then you will need to purchase another 1 TH of power to replace the first 1 TH of power that expired from that first purchase. I hope that this explains things a little better.
I am currently mining at 67TH/s on Hasflare, seems to be working just great for me. Glad to see more people supportive of Hashflare...
J LIN, that's amazing to have so much Hash power. Enjoy those crypto profits! LOL
CryptoRobert I stopped contributing to my 401k. You only live once. At the rate of the us economy I’m going to need to have over a million dollars saved in 401k at the age of retirement to scrape by. I’m 27 now I’ve done all the retirement calculators and hoopla. Which leads me to believe that even at the age of retirement I’ll still have to be working well past that, so shoot for the moon. You only live once.
J LIN, I admire your bravery. Who really would pass up on this amazing opportunity? However, once you make your first crypto million please diversify your assets. If anything, a 401K is a great tax haven. It can help you avoid paying higher taxes resulting from your crypto wealth. Have fun!
Hi Rob, have you just been focusing on bitcoin or any other crypto and how much did you invest at the start?
Project Khordi, I have just been focusing on Bitcoin for now. I do like Etherium and Litecoin, only because the network fees are so low. When I need to cash out some Bitcoin for cash, I usually convert my Bitcoin to Litcoin in my Exodus wallet and then send the Litcoin to Coinbase for just a couple of pennies. On Coinbase I just sell the Litcoin back to my Bank or PayPal account. It's a useful Crytokack that avoids the high Bitcoin network mining fees.
IOTA :)
Hello I made a purchase for some hash power. I did the stops just like you did but now that my BTC is sent when I go to history on hashflare it says "timed out" what does this mean? Will I get my money back or is it just going to take a while longer? They revived the BTC on the wallet they told me to send it to? Do you have any idea or opinion on what might happen? Thank you for the video and any response.
When did you make your purchase? I got the same message od "timed out" only to discover that it was a technical glitch. When I logged back out and in again I saw the extra hashpower applied to my account. Please let me know if you get the hashpower you purchased applied to your account.
CryptoRobert I made the purchase last night, I'll log out and back in to see what happens
Still the same....
How much did you purchase? If I know how much hash power you purchased then I might be able to find your order.
CryptoRobert 100TH
do you just transfer your hashflare payoff to coinbase?
You can do that. However, I choose to accumulate my Hashflare earnings in my private Exodus wallet. Only when I want to convert my Bitcoin to U.S. Dollars do I then send it to my Coinbase account. I have nothing against Coinbase, I would just rather hold my earnings in my private wallet.
It's logical they had to change the contracts to 1 year. Unlimited contracts were unsustainable. It would have allowed any user to reinvest for 5 years using compound interest and gain orders of magnitude more hash power. That's physically impossible to sustain, especially considering the number of users on HashFlare.
Adi T, you are 100% correct. The changing of the contracts to one year guarantees the long-term sustainability of Hashflare. You have to look at it from their business perspective. No business can sustain itself and grow without a regular inflow of cash. How else could they pay for new equipment, staff, the electricity it takes to generate all that hash power? Money and more of it every year. I would not be surprised to see Genesis mining following suit and ending the open-ended contracts and changing them to 2 or 3-year contracts.
Why are you leaving the power amount in your calculation? There is no power cost with hashflare and the pool maintenance fee is around 16-18% not 26% as stated. So the profit should be more. Just saying.
Question: Is there a fee for withdrawing BTC?
gadaffi1000, thank you for that keen observation. I do believe that I made a mistake with the coinwarz cloud mining calculator. The 26.5% pool fees include the electricity and maintenance costs for your contracts. In a future video, I promise correct this mistake. Good eye on catching this!
Robert, i just checking cloud systems, and i watched your video, thank you for your honesty, i wonder that do you continue?
I made a purchase at hashflare and the purchase transaction on their website shows failed due to timeout, but the money got debited from my account. I havent heard since 6 days from hashflare after i filed a ticket.
Same thing happened to me. I bought with a debit card and payed 1500 dollars, its been 28 days and still no refund. However I have paid with bitcoin for another contract and it was successful. Ask your bank to credit you, my visa process takes 14-30 days, so the money will be refunded to me by the bank. So basically hashflare did not really take your money, it is on hold by your bank, contact them.
Ridiculous withdrawal fee!! Increased it to .0015 . Which is around $25 right now. WTF?
I agree, I am not a fan of these minimum payout amounts but you have to see this from their perspective. If they allow withdrawals worth $25 USD and it cost them $15 in Bitcoin network fees, you an easily see how that is a losing proposition for them. While I don't like having to wait to accrue over $150 worth of Bitcoin per withdrawal, there is very little you and I can do because it's their right to set the terms of payment. I am pretty sure that they have this provision covered somewhere in their terms and conditions when you purchase new contracts.
I am going to give this a try sinceI couldn’t get Genesis contract.
Norberto, you are not going to be disappointed. I am up to about 18.5 TH and I keep adding more as I make more money. It's a great service.
CryptoRobert great robert. I will look into this. You just earned a new referral. 👍🏼👍🏼👍🏼
Which of the coins you find more profitable?
How do you plan on handling the tax situation involved with crypto?
Yes, I am planing on handling the tax implications of Bitcoin and Cryptocurrencies in and upcoming video in early January when people start to think about doing your taxes. I am in the research and development stage of his video taxes are not always a straightforward topic. Thanks for the question!
Ya, God forbid the government doesn't get their sweaty greedy ass hands in on a currency accepted by the people.... ftg
How do you know the pool fees for each pool?
I don't think it really matters regarding the exact pool fee for each pool. To calculate my profit I just substrate whatever my Hashflare dashboard is telling me by 26.5%. So if the Hashflare dashboard is saying that you are making $35 per day you are really making $25.72 net profit.
I'm using minergate. They have open ended contracts.
"returned in less THAN 4 months"....god
How much could I make with 100 dollars per day?
CAN YOU UPGRADE HASHPOWER WITH THE CONTRACT?
I like your honesty man, thank you for the video, it was helpful.
Do they Charge you 1.50 per day if i buy that contract?
DankWave, the maintenance and electricity cost will change depending on the amount of hash power you purchase. The "pool fees" as they are called are about 26.5%. So, for example, if you purchased 7 TH/s for $1050 that would gross $7143 but you would make about $5200 after factor in the 26.5% pool fees. I hope better explains things.
Thinking of getting around $250 worth of TH... would it be better to just buy BTC with that for long term hold or buy a contract?
Ryan, I think the $250 worth of mining power is a great investment. Buying Bitcoin as this high price is pretty crazy. That $250 will mine about $1200 worth of Bitcoin is 12 time which is around 490% ROI. If you were to apply a level of appreciation to Bitcoin, the BTC price would have to go from $16K per Bitcoin to about $80K. It's certainly possible that Bitcoin will go up 490% by the end of next year but probably not. In the end, it's your decision as to where your money is best spent.
Well if I were to decide to buy BTC instead of a contract I would definitely wait for the price to go down with a high trade volume... I bought $150 of BTC@9,000 a while ago and was happy with my returns but I know that that type of return is pretty unusual. So at this point im probably leaning towards buying a HS contract and then waiting to buy more BTC later.
Also if I do decide to buy a contract do you have any tips like what payment method I should use and if I can get some kind of discount?
hopefully some day you'll figure out how to adjust your mic input level so as to not have it distorting
Melinda, thank you for that valuable feedback. Yes, I have a new microphone and I must admit, I am getting used to the volume settings. In one video, the volume was too low, and apparently, in my last two videos, the recorded volume is too high. I will give this issue top priority in my next video. Thanks again for your valuable feedback!
I like the video, however, I do have one suggestion. Every time you put your hand down on your desk it makes a banging sound. It is not a welcome sound for headphone users. ;-) Keep up the grind
Dru312, I am so sorry about that. You know, I bought this super awesome RODE USB microphone and it's super sensitive. The mic even picks up my neighbor's heavy footsteps! I will be more mindful of this hand banging issue in future videos.
And its over...................crypto and third parties do not mix, download a miner, run whenever your not using your computer and mine to a wallet that you hold the private keys. If it stops being profitable ebay your gpu and get your money back. You can bet that hash flare is still mining with the s9’s their customers bought them and while the profits are low they are pure profit for hash flare who got the equipment for free.
Hey Robert... what do you think of BitConnect?
Alex, I hope you don't mind, but I am copying and pasting my Biconnect comment from yesterday to save a little time.
To quote myself:
"thank you for asking for my thoughts on Bitconnect. Actually, I have a video in the works which will be all about Bitconect and how to make money with the program. Truth be told, I have several thousand dollars invested in Bitconnect so I do have faith in the system so far. They have been consistently paying me since September of this year and I have never had reason to doubt the program despite the civil war going on in the UA-cam community regarding this popular program. What does Bitonnect have going for it? Plenty. First, they have their own Cryptocurrency, the Bitconnect token which, accoring to coinmarketcap.com has a market capitalization of 1.1 BILLION dollars. Also, the Bitconnect platform itself has been rock solid since March 2016, almost 2 years now. How long can Bitconnect last? I have no idea. And guess what? Niether do the other UA-camrs who are making videos trashing Bitconnect calling it a Ponzi scheme just days, weeks, or months waiting to collaspse. These are the same arguments some on UA-cam have been making since I started with Bitconnect in late August. All I know is that I have taken $4300 of my original investment and made $4723 so. And remember, when you lend your money to Bitconnect you get ALL of your original investment back in 299 days so I am not only making all of this interest, I am getting all of my seed money back as a capital release. Sorry for the long comment, I just wanted to be thorough."
whats about payouts to your own wallet at the moment ?
I am not having any trouble at the moment. Last week I made a withdrawal of $280 form Hashflare. However, due to a huge backlog of Bitcoin transactions, the withdrawal did not hit my Exodus wallet for 4 days which was a rather extreme case of Bitcoin transaction confirmation backlog.
i can see my tranaction only at chain.so , which is linked on my transaction details on my hashflare account
I think it is good value for your money. Like you are doing, re-investing brings a lot more then just let it rest. Even with the contracts reduced to one year, you are able to get a nice income from hashflare.
Sjaak, yes, you are correct. The value of re-investing is very powerful. If you plan carefully enough, and consistently buy more hashpower throughout the year, you can keep your overall hashpower steady rather then let the contracts completely stop after 1 year. So if you want to maintain a goal of 50 TH on Hashflare then you will need to reinvest a percentage of your profits each month to avoid a complete stoppage of mining payouts.
Robert., What happens if the bitcoin difficulty increases?? Do we make the same amount of profit or will the profit decrease a lot ??
It decreases depending on the increase in difficulty. From dec 2016 to dec 2017 there was around 400% increase in difficulty. This effects the profit alot
Mounika, the mining difficulty will decrease your profits, but not by as much as you think. The biggest profitability factor with mining is the price of Bitcoin. If the price of Bitcoin remains high then your profits increase. If the Bitcoin price tanks then your mining profits decrease as well.
Robert., do u advice to invest more in Chain group or hashflare ?
Mounika Chillamcherla close your eyes and invest in Genesis mining or hashflare 😍
how much could i make with 100 usd for a day / a month
Mathew, that's a great question. After looking into this, a $100 investment in Hashflare Bitcoin SHA-256 cloud mining program will net you $1.18 per day, $8.26 per week, $35.41 per month and $430.83. At the current price of Bitcoin you will make your $100 investment day in about 85-95 days or 3 months. In other words, you will have 9 months of pure profit on this contract. In my opinion, this is a very good deal. I would take advantage of the sale before it ends on December 4th.
1-2% per day!
i buy last week 1 th =140usd and i get 1.50$-2.03per day (60$ per month)
2.20 every 4 days..
How much could i make on hashflare if i invested £3000?
£3000 is equal to about $4000 which will buy you 18 TH/s at $220 per TH. This will make you about $900 per month. You will make your £4000 back in about 110 - 120 days. Remember, Hashflare sells only 1 year contracts.
Informative video. Out of curiosity, do you only invest in SHA256 or will u be investing in other algorithms from hashflare as well as what are your thoughts on other cloud mining algorithms through them?
Thank you for asking the question. Currently, the SHA256 is the most profitable contacts due that high price of Bitcoin. While I really like Etherium and Litecoin, these contacts are not as profitable as Bitcoin. After I do some extensive research on the total ROI on the other coins, I will put a video discussing the pros and cons of buying non-Bitcoin contracts.
CryptoRobert thank you for the reply. I personally invested a bit into etherium, n while not as profitable as sha256, it's returns are still decent enough for me personally... Looking forward to the next vid
Nice vid Rob you remind me of Jack bauers brother from 24
Great video CryptoRobert! I recently bought a contract with Hashflare and noticed the minimum BTC witdrawals are now 0.05 but I thought I read somewhere that BTC withdrawals are temporarily suspended until further notice. Can you confirm if you can indeed withdraw 0.05 BTC at this point in time? It's going to take several months for me to reach that limit so I can't try a withdrawal at this time. Thank you
Yes, sadly Hashflare has there 0.05 BTC withdrawal. I have been invested with Hashflare since August and they have never failed to pay me. It's stinks to have such a high payout minimum however.
Great video... pretty great information. From a fellow New Yorker... keep it up brother!
New York City represent! LOL. I am a native New Yorker and lifelong Brooklyn resident. I am glad to share my knowledge of all thing Bitcoin and Cryptocurrencies.
Hello Robert!!! Great Videos , thank you!!! Which pools do you use for SHA-256 ?
I am currently doing 33% BC, 34% BW, and 33% SL. I am happy with this mix for now as it's keeping my profits steady.
Thank you!!
To avoid the coinbase fees transfer the bitcoin fund to gdax then send the bitcoin to hashflare. 0 fees.
That's a great suggestion. I think a future video of mine will be me showing how easy moving money to your bank account in GDAX can be.
I was trying to wire money to hashflare but the bank was having a hard time following the Hashflare email instructions. any advice? Thanks
silentmajor, thank you for reaching out to me with your Bank Transfer payment difficulty. Truthfully, I have not experience paying with a bank transfer. I usually pay for my Hash power with BTC or my credit card. Can you give me a little more detail (without revealing anything confidential) able the specific instructions you are having difficulty with?
thanks but I think I've got it figured out.
Excellent! I am glad you got the banking stuff resolved. Enjoy making money cloud mining.
they need to fix their withdraw process. Still waiting 4 days on a withdraw
Yes, agreed. Withdrawals do take a lot of time. My last withdrawal from Hashflare took 4 days to complete. Hashflare realizes how annoying this is and are working on fixing the problem.
Hashflare took $1700 from me without giving me any hash power. Don't put money into this scam.
Have you contacted Hashflare about this? Have your thought that this might be due to a technical glitch?
thanks, well presented
clown mining, noice
you're not accounting for the increased mining difficulty when you predict your profitability. Hashflare isnt very profitable at this point.
You have to keep in mind when this video was produced which was on December 1, 2017, when Bitcoin prices were pretty high. The Bitcoin mining profitability will ebb and flow with the current tide of the Bitcoin price. Just because the price is lower right now, does not mean that I value my mining contract any less. My 55 TH/s is not making as much money as it once was, but then again, if the price of Bitcoin rebounds in the next couple of weeks then I will be right back where I was. However, in both cases, whether the price of Bitcoin is high or low, I am still making thousands of dollars on my contract.
Actually its worse than that. You can actually end up with less btc than u started..
what a scam turned out to be
Hi, Harefare still working
waited 1 week for deposit to show up in account , result was a timeout, bullshit site
Highwic, I am very sorry about the trouble that you had with Hashflare. Let me ask you, have you contacted customer support at Hashflare? They are usually very helpful when it comes to these payment verification issues.
customer support , what a joke they never reply
I do not see Hashflare here: blockchain.info/pools
George, there is no pool on the Blockchain info website called "Hashflare" in the same way that there is not "Genesis-mining" pool. Their hash power is pooled together from several pools including AntPool and many. Within the Hashflash dashboard, you can allocate the different percentages from among the numerous pools they contribute to.
Is it genuine or fake?
Is ok at the moment, but is always risk :/
Shaik, I have been enjoying the "fake" money they have been giving me since September. Nothing is guaranteed, but you might as well enjoy this ride for as long as it lasts.
hi
Den, hello to you too.
Hacked...LoL
Vasileios, what do you mean by "hacked?" I am able to log into Hashflare from where I am.
There is some intermittent connectivity issue related to the MASSIVE about or interest in Hashflare. Their servers are practically exploding due to new user volume. They are just trying to do their best to handle all of the volume. They have not been hacked. At least not as far as I know. It's also one of the reasons that Coinbase is experiecing outages today due to the torrent of volume also flooding their servers.
you mean Nicehash was hacked......
EKAssist, stop spreading FUD. Hashflare was not hacked but doing server maintenance to handle the massive load of new customers. They are back up and running with no issues.
can you read i said Nicehash LOL read m8 i use hashflare i know its not hacked
How mush 1000$ make in mining
Lutz, a $1000 mining contract of 7 TH/s will make you about $5000 per year. That's a fantastic 500% ROI. As long as you reorder that 7 TH/s for $1000 you will continue to make that money.
If I pay 1 bitcoin how many bitcoins will come out after 1 year?
Aston, OK, let's do some math. As of right now, December 6th, at 10:43 AM New York time, one Bitcoin is worth $12,900. For $12,900 you can buy 86 Tera Hashes of Bitcoin mining power. How much can you net in one year? After, expenses you will stand to make $55,845 in profit which is over 300% profit. In just 3 months you will make back your entire Bitcoin priced at $12,900. In my opinion this is one of the best legitimate Bitcoin investments today.
So do you get back $ or Bitcoin?
Aston Bright your mining bitcoin so you get bitcoin.
So what my actual question is. 1 bitcoin investment will result in how many bitcoin out. Is it like 1.5 bitcoins?
You get paid in Bitcoin and not dollars.