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I bought a cloud mining contract and have been mining for 6 months. The difficulty has remained steady, and the value of btc has been growing, but the payouts remain the same. The amount mined seems to be moving down at exactly the rate that btc is appreciating leaving me with mining revenue as a static 2-3$ per day, no matter how high bitcoin's usd value grows. This wouldn't be visible if BTC hadn't shot up 336% in the past 6 months. Since the revenue has not increased even 1% and the yield has decreased exactly to maintain a 3$/day profit, doesn't that make it a scam? They just borrow my money and pay it back to me at $3/day without actually doing any mining or including the market gains?
Hell, I paid for the contract in BTC, if I'd left it alone I'd have made 300% gains. Which, by the design of the currency, I know that hashflare has banked. I know that bitcoin is the wild west but unless I'm mistaken somehow, hashflare's cloud mining contracts don't make any money no matter how much hashrate you 'buy'. Am I missing something? Noob here who didn't do any research before investing in hashflare;) How much bitcoin do you get vs what they project? I'm in for a 1050 contract, 7 TH/s and they are projecting I end up with.37 bitcoins after a year. Should I be expecting half of that?
It seems to me because the price of mining hasn't risen with the price of bitcoin that even if they only mine half the bitcoins they say they will if the price of bitcoin stays even I'll still make profit. For example, if they give me.18 bitcoins (half of the projection) over the course of the year, and bitcoin stays level at 15000 I'll get back 2700 for a profit of 1650. • • • • • • •.
Hashflare is not a scam, a lot of people think it’s a scam but it’s a legitimate business. You can find interviews with the people behind the company, pictures of them when they present their businessetc. Problem is most people know nothing about mining crypto and expect a free money printing machine. They invest 200 dollars never get break even due to increases in difficulty and conclude that you can’t make money with it. Because they feel duped they call it a scam. But in reality they are just doing it wrong. Check this article for more info it explains how you can earn money with Hashflare.