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RE: Hashflare Bitcoin Mining $700 Investment Day 90 🤑 ROI 0.96 %/Day

in #bitcoin7 years ago

Ok, I have a decent amount of money invested in Hashflare, so here's what I think: I bought my contract when the price was 150 USD for 1 TH/s and the mining difficulty was 50% easier. So what can I say? The first months I was making A LOT OF MONEY. Really. And then what happened? You have to be careful about 3 things: 1) Bitcoin price, 2) Mining Difficulty, 3) Hashflare fees. So basically this is what happens: when Bitcoin price goes up you pay less fees because fees are fixed in USD and you make more profit. But when the price goes down, you'll pay more fees. And the worst thing that can happen is when BTC price goes down, fees goes up and BTC mining difficulty goes up. Oh that's a nightmare. When I started I was paying something like 15% now it's above 35%. And the price of bitcoin is not that high anymore and mining difficulty is very high. Is it still profitable? I am still making profit, but not so much anymore. Well, right now if you invest 1600 for 10 TH/s you'll break even in more than 250 days. But I can guarantee it won't happen this way. It can happen earlier than that... but if the price of bitcoin remains the same and the mining difficulty goes up... Maybe you'll end up with less money than you've invested. ONLY INVEST THE MONEY YOU CAN AFFORD TO LOSE. I made some nice money but I wouldn't do it again, break even was less than 60 days before. Now is almost 300 days. Can you realize the difference? But nice post brother, I hope I shared some nice experience here and I also hope the price will keep going up so everyone can make money. If anyone need help making projections I'll be glad to help!

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Yep totally agree with you investing in mining only with free money that you can afford to lose and if you true believe that price will grow up to $15-20k ;)

I'm pretty sure it will go back to 20k eventually this year. Maybe even more. Let's hope for that. Nice post!

Yes for sure Spring is time to grow ;)