I have created this blog for share my experience on bitcoin cloud mining. I will update regularly my review from my SHA-256 contract of BTC mining
I have invested 42K USD (2.48BTC), four payments that I have done on 10th, 11th and 12th December.
The forecast is 287K USD (minus around 20% of maintenance fee = 229.6K), I will get back my initial investment : 42K USD in around 67 days, the rest : 187.6K USD will be pure profit. So we are on a profit at 346% (initial investment is multiply by 5.46). It is a forecast, but this forecast is so far confirmed by my withdraw this first two weeks, check at the end of this article.
How much are you ready to invest? You can visit this simulator forecast for estimate your profit. The estimation is based on the BTC value and hashrate difficulty of the day. Remarks: you need to remove -20% for the maintenance fee on the monthly revenue which are automatically debited by Hashflare on the payout.
If you are ready you can open directly your account here.
Profit is calculated via the deduction of expenses from income.
The income consists of daily payouts which size depends on the hashrate. In order to calculate an estimated income using the hashrate you will need to include it in one of the calculators below (set all Power values to zero):
Next, deduct the maintenance + electricity fee of 0.0035 USD per 10 GH/s of SHA-256 , the contract I have chosen.
I will get back my initial investment : 42K USD in around 67 days, the rest : 187.6K USD will be pure profit.
I am one of the person who will believe that the bitcoin will reach 50K USD quickly in 2018, and I am not the only one, you can fine online many experts predicting that, one example : https://www.cryptocoinsnews.com/bitcoin-price-hit-50000-next-year-private-venture-capitalist
So once the bitcoin will reach 50K USD, even if the hashrate difficulty is increasing, my profit might be around 300K-400K USD.
How much are you ready to invest? You can calculate here your monthly income with a 12 months contract.
I have made two withdrawals for what I have mined between the 13/12 to 27/12, so in two weeks 0.48BTC
You can see that I have withdraw a small amount on 12/12/2017 for test the withdraw functionality on my wallet, Now I will wait every one or two weeks before to withdraw again, for avoid too many withdraw fee.
So in 14 days 0.48btc, mean in one year I should get 365 / 14 * 0.48 = 12.51BTC, we are a bit lower than the forecast (16.14btc) since the hashrate has recently lower, but we are still over 300% of profit, and keep in mind that this forecast can evolve according to hashrate and BTC value also if you wish to cash out your bitcoin in USD.
Purchasing of the contract on this platform can be done in BTC or USD per credit card or bank transfer, which is offering some flexibility.
Above you can see the history of the bitcoin mined, the detail of the fee and the date I have purchase some THS :
Other interesting features:
Choice of the pool mining:
You can choose the ratio you want to mine among three pools.
You can test which one is the most profitable and make your own adjustment:
When you select a specific pool and the hashrate percent allocated to it, the system begins to use that amount of hashrate in the selected pool. The accounting happens daily, thus you are able to change the pools once a day. After the system calculates your hashrate’s input and the total payout from that pool you will be given your share of the mined BTC.
Withdraw or reinvest
The Reinvest function allows you to automatically buy additional hashrate as soon as your Balance allows it.
Activating this function will use your current Balance to purchase the maximum possible amount of hashrate.
After every payout the system will check if your Balance is sufficient to purchase at least a minimum amount of hashrate (10 GH/s for SHA-256 or 1 MH/s for Scrypt). If it is, then the purchase will be created and automatically confirmed.