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Cloud Mining

  • 23-12-2017 5:16pm
    #1
    Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise


    Anyone of you fine folk buy cloud mining contracts (eg) Hashflare , or have an opinion on them.

    Thanks.


Comments

  • Registered Users Posts: 11,259 ✭✭✭✭ jester77


    A friend of mine does this, whoever he uses are based in Iceland. He joined a good while back before the crazy of the last year and is making good profit.


  • Registered Users Posts: 115 ✭✭ Paddy_B


    I can't imagine they would be worthwhile after they take fees out. Better off investing in some crypto and watch it grow if you pick the right ones!


  • Registered Users Posts: 36,084 ✭✭✭✭ ED E


    If it was a good idea the DC owners themselves would be mining, not handing away their profit to somebody who clicks mine.


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    yes hashflare and Genesis here, great for passive income, hashflare paying out about 2% a day but that will decrease with the difficulty level going up.

    Hashflare recently up'd their prices and have only limited supply of SHA-256 contracts.
    also about 15% maintenance fee

    Genesis only mining monero at moment on 2 year contracts, still profitable but payback/break even longer.
    no maintenance fee's

    my next capital release from bitconnect will be in February and i'll re-invested that with hashflare to hopefully bring me upto 50 TH/s


  • Registered Users Posts: 183 ✭✭ Drumorig


    I wouldn't touch any of them. If pbmining.com didn't run off with everyone's btc I'd probably be rich now :p The only money was in the referrals.


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  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise


    yes hashflare and Genesis here, great for passive income, hashflare paying out about 2% a day but that will decrease with the difficulty level going up.

    Hashflare recently up'd their prices and have only limited supply of SHA-256 contracts.
    also about 15% maintenance fee

    Genesis only mining monero at moment on 2 year contracts, still profitable but payback/break even longer.
    no maintenance fee's

    my next capital release from bitconnect will be in February and i'll re-invested that with hashflare to hopefully bring me upto 50 TH/s

    50 TH/s .... nice!

    If the mining difficulty stays reasonable over your contract term then that's a nice little income right there... congrats

    Can you answer me this;
    Do you constantly reinvest payments thus getting compound interest scenario

    If you constantly reinvest does that start a new contract?

    Thanks in advance.

    (PS) thinking of buying a contract but hoping they reverse the recent price increase (read they reversed the last one after a backlash) also that forecast calclautor in the info page has me doubting as it's very deciving and kinda sly if you ask me which has me doubting them.


  • Registered Users Posts: 183 ✭✭ Drumorig


    it's very deciving and kinda sly if you ask me which has me doubting them.
    yep, none of those cloud mining companies have any hardware either I'm guessing.


  • Registered Users Posts: 183 ✭✭ Drumorig


    OK, hashflare.io, just had a quick look.
    10% for referrals, sounds familiar :pac:

    This is another classic pyramid scheme, these lads will say there mining farm burned down or they got hacked and all the coin were stolen :rolleyes: Give these lads nothing, they are scammers. Put your money into alts and hodl imo.


  • Registered Users Posts: 89 ✭✭ CutWeldDrive



    Can you answer me this;
    Do you constantly reinvest payments thus getting compound interest scenario

    If you constantly reinvest does that start a new contract?

    you can reinvest if you want, i don't. i withdraw everything once it builds up to the withdrawal balance.

    yes once you re-invest, a new contract starts.


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    Drumorig wrote: »
    OK, hashflare.io, just had a quick look.
    10% for referrals, sounds familiar :pac:

    This is another classic pyramid scheme, these lads will say there mining farm burned down or they got hacked and all the coin were stolen :rolleyes: Give these lads nothing, they are scammers. Put your money into alts and hodl imo.



    everything in the crypto world is risky, you need to invest and take risks if you want the crypto world to pay off.

    hashflare and Genesis have there own rigs based in iceland. i've been getting payment with out any issues. sorry you got scammed but you can't label every crypto scheme or mining operation as scammers. all anyone has to do is do there research and get in early and withdraw early.

    bitconnect, bitclub, ethconnect, hextracoin, freebitco, hasflare, genesis, usi-tech you could label these all in the same boat, but they are still paying out upto 2% daily, with daily withdrawals if you choose.

    i know whats working for me, so far quite well, because i have 80% of my coin invested i lost nothing over the last 7 days. in fact when everyone else was loosing from hodling, i was still getting my 250 euro a day interest from my investments.

    everything in the crypto world is risky, some low some high. it's the nature of the beast, all i would say is do your research, read the reviews, watch the youtube videos and never invest any more that you are willing to loose.


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  • Registered Users Posts: 183 ✭✭ Drumorig


    Fair play if it's working for you. I know the score. I didn't actually get scammed so I'm not angry :-) That 10% referral fee has me interested, put it that way!


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Worth a watch, CEO or Genius, I don't mine but I'm invested in Hive who've brought Genisis to the traditional markets.. https://youtu.be/6zq831ZK6es


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    The referral is what makes you the big money in the end, i myself don't part take in putting myself out there and trying to get people to signup under me. i prefer the stay in the shadows approch, that way if i loose no one knows ha ha ha.

    i'm in bitconnect, hashflare, and genesis and have 1 referral from all three. a guy at work who was interest but not invested yet.

    if people what to sign up under me i'm grateful, but not going to push anything on anyone.

    i'm also with ethconnect, stay well clear... this is a scam.. not alot invested, so being written off at moment as lost.

    if anyone is interested in investing in any platform, be in mining, exchanges, investment etc, my advice, invest small, couple of hundred, sus it out, than when your comfortable with everything invest more.

    even coinbase if flaky, use them to buy you coin and transfer it to you wallet as soon as possible. read the terms and conditions and you'll understand why.


  • Registered Users Posts: 183 ✭✭ Drumorig


    Sure give me your hashflare referral there, I'll see can I get ROI off referrals for the craic, the site looks slick :pac:


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    Drumorig wrote: »
    Sure give me your hashflare referral there, I'll see can I get ROI off referrals for the craic, the site looks slick :pac:

    pm'd and thanks


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise


    pm'd and thanks

    Me too please...gonna throw €1k at this and another €1k into some coins.

    My first investments btw and id love to get some advice off some of you guys who have already been down some paths that I'm about to take.

    So far I've..

    Coinbase up an verified
    Binance up and verified
    Bitstamp up awaiting ver
    Hashflare signed up

    Need advice on wallets please and anything else guys.

    Thanks in advance and hope you are all having a wonderful Christmas.


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    i used exodus and blockchain wallet to hold my coin.
    exodus for long term hodls and blockchain for day to day spending.

    For trading i use Binance, had a super hard time getting verified with bittrex.
    Binance has referral too and use there own coin, so transer fees are reduced when paying in there coin.

    and an app called blockfilio to monitor everything

    coinbase i use to buy bitcoin and transfer it right away.. i use the sepa transfer so no fees.
    coinbase have it in there terms and conditions that if you use there wallet for transfering to lending platforms or mining platforms it's outside there terms and conditions so can block your account and keep all your assets.. it's in there terms and conditions... i find coinbase also shut down there exchanges when they get super busy. so you have no access to your coin if you want to sell.


    depending on how the next few months go with me, i may consider switching to a ledger.


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    oh and eidoo wallet for all erc20 tokens if you are holding for longterm.

    not used it much myself, as i don't have alot of tied up in different alt's


  • Registered Users Posts: 183 ✭✭ Drumorig


    Me too please...gonna throw €1k at this and another €1k into some coins.
    I wouldn't do that, you won't get ROI out of it, I'm buying in with a view to getting referrals, in fact I've just figured out I can look for referrals without buying in. I wouldn't be throwing 1k at it, not a hope you'll recover that.


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    go to coinwarz calculator,

    you can work out yourself what 1k investment will bring you over a year and when your break even will be.

    power cost will be zero.
    pool fee for hashflare is the maintenance of about 15-16%
    hardware cost will be your contract cost.

    just checked there, no referral information is shared with anyone that i can see.
    and yes you don't need to invest to get referrals.
    it's the same with all platforms, well the ones i'm on anyway.


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  • Registered Users Posts: 183 ✭✭ Drumorig


    and yes you don't need to invest to get referrals.
    it's the same with all platforms, well the ones i'm on anyway.
    Cheers, it used to be different with the cloudmining sites, you had to be signed up with a subscription.


  • Registered Users Posts: 17 ✭✭✭ efk1


    oh and eidoo wallet for all erc20 tokens if you are holding for longterm.

    not used it much myself, as i don't have alot of tied up in different alt's

    two things
    coinbase i use to buy bitcoin and transfer it right away.. i use the sepa transfer so no fees. - Can you explain sepa?

    You recommend eidoo? am looking at bnb and kucoins so leave on the exchange or move to exodus into the eth wallet?

    thanks


  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    SEPA - money transfer from one back to another within the EU

    erc20 wallets only hold erc20 coins, exodus is not an erc20 wallet and if you transfer anything to it that isn't supported your coin will be lost

    if you are buying off exchange just leave them on exchange..

    i don't use eidoo anymore because i was concerned that it was only on a phone, i use myetherwallet now.


  • Registered Users Posts: 17 ✭✭✭ efk1


    thats great info thanks. so sepa involves directly connectly my bank account details instead of via debit card to buy

    I will have a look at myetherwallet. I have read that erc20coins can be stored in eth wallets.


  • Registered Users Posts: 9,062 ✭✭✭ Kenny Logins



    hashflare and Genesis have there own rigs based in iceland.

    I've seen the Gemini videos, but do you have any links to show the Hashflare mining operation?


  • Registered Users Posts: 1,317 ✭✭✭ Dr Bolouswki


    efk1 wrote: »
    I have read that erc20coins can be stored in eth wallets.

    Correct. I have Omisego in my standard eth wallet.


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