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RE: Is Cloud Mining On Hashflare Worth It?

in #mining7 years ago (edited)

Genesis Mining for BTC has been outstanding for me. I also have an ETH contract which has been pretty good overall, factoring in ETH's mining difficulty decay.

Hashflare's contracts are only for 1 year as of their recent backstab of customers in August. They selfishly terminated their "open-ended/lifetime" contract terms of existing contracts (capping them at 1 more year out from that sad day), and made all new contracts 1 year max at a higher price as well. Definitely read up on this awful strategy backlash and the people who were misled to buy lifetime contracts only to have their terms switched out of the blue... no warnings, no compensation, no refund, nothing. That lost my respect for them as an organization, even though they're potentially the best of what's around as a leftover option. New marketing can only cover up so much...

Genesis is worth waiting for as their contracts last as long as they are profitable. If you want to get into cloud mining, Hashflare could be a start, but I'd jump on Genesis when it offers more services. Supply and demand. That's why Genesis is always sold out and ordering new equipment, and Hashflare is having Black Friday sales...

With Genesis, you have to pre-order these days, so you have to pay up front and wait for the new hardware to come and be set up about 2-3 months out. I'd try Hashflare potentially for a small stake, and pounce on Genesis when it's time. Just my thoughts being pretty involved in it.

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Genisis is my first choice as well but they only have Monero contracts right now. I did hear about Hashflare repealing their lifetime contracts and that really sucks. They also seem to have suspended daily payouts temporarily. I was planning to reinvest earning for the first 6-months anyway.

How long have you been mining with Genesis?

The better question is, why not investing in Monero mining?
Are there better more anonymous cryptocurrencies?

wow that is horrible. hope someone sues them.

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