Is Bitcoin Cloud Mining Profitable? (HashFlare)

4 stars based on 62 reviews

This is my review after upgrading my BTC mining to This post is based on my experience and results thus far with Genesis Mining. This post is not meant to be 1 ths bitcoin mining contracts advice. Your results may vary based on the many factors associated with cryptocurrency mining contracts.

This post is an update to my " Genesis Mining Review: My 7 Months of Mining " post made 7 days ago. Bitcoin mining will continue until the number of Bitcoins reaches 21 million. It is estimated that the last Bitcoin will be mined in the year The Bitcoin mining contract offered by Genesis Mining is a lifetime contract. Bitcoin halving events occur everyblocks, roughly every four years. I was Bitcoin mining during the last Bitcoin halving.

Yes, my payout did get cut in half but it recovered when the price of Bitcoin rose. I have been mining with Genesis Mining since June Mining with Genesis has given me a consistent daily income stream. And that is 1 ths bitcoin mining contracts goal to have a consistent income stream. I initially started Bitcoin mining at Genesis Mining with 0. After about 7 months at this rate to assess the viability and reliability of Genesis MiningI decided to upgrade my hash rate.

Their upgrade purchase gave me another 0. The following 1 ths bitcoin mining contracts shows my last six payouts. Created Using MS Excel. The past six BTC payouts since upgrading to I will continue 1 ths bitcoin mining contracts watch the payout consistency. Of course the next halving event will reduce the BTC payout. Based on these statistics I estimate I will recover my initial investment in days or 20 1 ths bitcoin mining contracts which is well before the next halving event.

The following chart to examines the long term potential payouts. I used the following assumptions:. As you can see if the price of BTC doubles every four years the payout in USD per day is a repeating pattern that resets after each halving event. I will keep you posted on my progress. If you are interested in learn more about Genesis Mining then click here to visit their website. I buy my Bitcoins through Coinbase. For me, buying Bitcoins through Coinbase is fast and convenient.

Bitcoin Block Reward Halving Countdown. If you like this post, you can upvote, follow, share, and re-steem this post. AFcBhU Let me know about it and i will use yours in return: I have added your code to my list. I just bought a 2 year Ethereum contract with your code Paid in Dash 0.

Have a great day and remember you are also on my rotation list. I will upgrade soon I am currently upgrading my X11 contract. Look for another upgrade using your code in about a week. I am now upgrading X11 everyday for as 1 ths bitcoin mining contracts as it is available.

You should get a confirmation soon. I have to wait? Only Ether and Monero can be mined. From time-to-time Genesis Mining sells out their capacity in a mining contract. Normally it takes them weeks to build out the infrastructure that allows them to sell more hash capacity.

Only one i trust besides Genesis. Looking forward for you to return the favour, thanks. I just did the same with your code for a ETH upgrade: Can you give everyone an update on your performance with Genesis Cloud Mining.

I would like to hear how your doing now that 6 months has 1 ths bitcoin mining contracts since you initially wrote the article. Is it still profitable? Here is my last update: Genesis Mining Review 7: There was a week where Genesis Mining postponed payments due to an intrusion by a hacker. Payouts have resumed and from what I am seeing, the Genesis Mining payouts are catching up.

Just based on my payouts, I can imagine Genesis Mining daily 1 ths bitcoin mining contracts are in the millions of dollars. If I were paying out that much, I would want to do a careful audit too before distributing the payouts. They ran 1 ths bitcoin mining contracts of X11 hash power to sell, but it should be available again in the near future. I have an Ether Mining contract s with Genesis, but do not think I will break even. This is why I do not recommend those contracts.

I do not think that will happen. At my current rate of return, I will break even on those mining contracts well before the next BTC halving event. Part of it has to do with the difficulty level. The difficulty level is a factor in determine how hard difficult it will be to come up with the next block in the block chain. That is my extremely basic understanding. Here is a website where you 1 ths bitcoin mining contracts see the "difficulty level" for different crypto-coins: Thanks for the update.

I still feel there is much opportunity to lose money if conditions are not favorable all the time. Do you know what the time decay looks like on a 2 year contract. For example, how much do daily payments drop on the last month of the 2 year contract vs the first month on the contract? I'm still trying to understand why cloud mining is not a gamble and a good way to lose money in uncertain market conditions. Any additional insights by the Steem community would be very helpful for me to better understand how cloud mining works.

I have added your promo code to my rotation list. My rotation list is getting rather long, it may be a bit of time before I get to your code. You should be getting a confirmation soon. I purchased it with BTC so it may take a bit of time to clear. Looking forward to keep upgrading with you! 1 ths bitcoin mining contracts for another upgrade by myself using your code in about a week. A bit late in posting 1 ths bitcoin mining contracts They will make current tech obsolete.

Hey joshwaa i just used your code for a upgrade, mine is: AFcBhU Happy to keep exchanging and sharing codes: So if you use my code: Just let me know. Genesis could be bogged down with orders. As of this time, I have not gotten an confirmation yet.

Hopefully, they are just backlogged. I just started mining today, you are third in line on my list. I will be using your code pretty soon. You can use HashFlare to get a mining contract. Their mining contracts are by the way the cheapest around ; Heres the link: Please use my code XouixF as well. I have added your code to my rotation list. I only upgrade my BTC mining contract. I am still debating whether to purchase more upgrades at this time or wait. My rotation list has 29 codes in it.

It may be some time before I get to your code. It all depends on the 1 ths bitcoin mining contracts of BTC contracts from Genesis.

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Skip to main content. There seems to be a problem serving the request at this time. We do NOT allow the use of custom pools for our cloud mining contracts. Estimated cloud mining rewards can be calculated by using any of the standard cryptocurrency mining profit calculators online, such as coinwarz.

I will point my miners to your pool for 24 hours. You can mine any SHA coin. Make sure you set the minimum worker difficulty to at the pool. In case of malfunction will be mined more hours. Almost anything can be googled or found in forums.

Picture provided is just a visual of the Canaan Avalon , which will be the machine used to fulfill contracts; however the screenshot is an actual sample taken from my machine, your statistics will vary.

For sale is 4 hours rental contract on my Bitmain Antminer S9 with To run the contract we need You to specify. I'll text you about starting. I handle my mining contracts a bit differently. I started getting into crypto currencies in Avoid the loud whirling fan noise and excessive heat of bitcoin mining hardware and avoid the expensive electricity cost required to run the miners and cooling systems.

Clock starts as soon as mining begins you will be able to monitor progress from the pool of your choice. Mining contract Antminer S7 7 Days - 4. Do not miss this opportunity! Mine the Easy way! Buy Wholesale and reap the benefits. Also note that monitor settings may vary from computer to computer and may distort actual colors. Bitcoin Mining Contract-Antminer s9 Rent the power of AntMiner s9 New Listing S7 2. Note that you can't mine scrypt currencies like Litecoin using this service, only SHA like bitcoin.

I will start mining for you as soon as possible. After I receive the information, I will start mining as soon as possible for 48 hours on your pool. We will let you know when the miner is ready to go, which is within several hours after the deal. While running, you can monitor the mining progress through the pool interface. To run the contract we need You to specify c Stratum Worker Password.

Usually password is set to X. After I receive the information, I will start mining as soon as possible for 24 hours on your pool.

Not sure if you want to buy a miner yet?. Don't have a place to mine?. After the order is completed mining will be started and you will get minimum dogecoins for 24 hours. This certificate entitles you to 24 hours of mining services provided by us at our dedicated mining data-center. Mining will typically begins in 24 hours. Copy and paste is always best! Rent an Antminer S9 - 12 hour contract Try before you buy lease This is a miner rental service contract!

This contract is not for buying the device, but, for buying 12 hours of service. Machine performance varies depending upon the challenge. Your buying a mining contract for 24 HOUR. Your buying a mining contract for 1 HOUR. To run the contract we need You to specify Only 24 hours of Antminer D3 remote rental! As soon I will receive Your pool details You will be in my list of miners. This mining contract is only compatible with cryptocurrencies using the Blake 2b algorithm, Siacoin.

Got one to sell? Compatible Currency see all. Contract Length see all. Guaranteed Delivery see all. Please provide a valid price range. Buying Format see all. Item Location see all. Delivery Options see all. Show only see all. More refinements More refinements