Today In this video I show what a $20,000 deposit into Hashflare get's you in earnings daily,weekly,monthly and yearly. I also calculate the amount of profit I make per year at the current Bitcoin price.
If for some reason you cannot watch the video I will sum it up here for you!
First of all let me show you what $20,000 buys you in mining power. ↓
As you can see above I have 134.325 TH/s of mining power. As I have so much the daily maintenance fee is around $47 however this is taken from your Bitcoin earnings that day and with the current Bitcoin price and difficulty I am earning $105 per day with the maintenance fee taken off. You can see all the earnings below
Now that we know that the earnings are $105 per day with the fee taken off we can workout how much I make weekly,monthly and yearly.
105*7 = $735 per week
735*4 = $2940 per month
2940*12 = $35280 per year
That is a $15,280 profit in 1 year.. The ROI is currently 191 days with the current bitcoin price and will only go down as long as the price keeps going up!
PLEASE NOTE I DO NOT ENCOURAGE YOU TO INVEST YOUR MONEY HERE! THE CIRCUMSTANCES HAVE CHANGED SINCE I DEPOSITED. IF YOU WANT TO DO CLOUD MINING I RECOMMEND GENESIS MINING.
you have a great fund, will match the benefits gained.
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
I've been thinking about mining as my next thing, but first thing's first - the FIRST thing I'm doin' has to make money. XD
Once I'm at that point, it's definitely something to consider and looking into further. I keep hearing that there's more money in trading cryptocurrency than there is in cryptomining, but the way I look at it - if it makes money and comes in at a profit, it's good.
Then again I'm hearing a nine-month break even point on mining rigs that cost a coupla thousand dollars.
What do you think?
~Thomas Duder, Curious
I recommend that you trade cryptocurrency IF you know what you are doing. This can be very risky. I decided to start mining as I was newish to the crypto "world" and did not really know anything about trading so did not want to take that risk.
Indeed, but it's kinda like poker. You gotta be in it to win it~!
Besides, I only have one computer and couldn't afford the electrical bill just to mine part-time. I have heard of virtual mining, but the community (at least the vocal ones) are split about whether or not it's a scam.
Eh, I'll give it a try sometime...after the current thing I'm in pays out. This week, if not next Monday, is first withdrawal~!
Buy a coin and hodl it. Do your research. Ethereum and Litecoin are decent altcoins that most people can afford.
The 9 month break even point is a lie. That will literally never happen. After transaction fees, taxes, and rising difficulty rates you will be lucky just to break even, in which case, you've taken a loss.
Ok I no longer appreciate you spamming my post, you do not have any idea what you are even speaking about so please leave.
I'm here to learn.
So if you would be happy to explain how someone could purchase an Antimer that has a hash rate of 13.5 ths/sec, for $3000 on ebay, plus the power cord for an additional $400 PLUS an additional charge to have their outlets fitted for a 220 plug AND break even in 9 months. I would be more than happy to hear.
I never said I use an antminer anywhere did I?
"Then again I'm hearing a nine-month break even point on mining rigs that cost a coupla thousand dollars."
I was reply to the original poster of the comment. who specifically asked for your input on a rig. I provided my own assessment as I was pretty sure you just ignored his question.
The antminer is the most common rig that is used due to its efficiency and its profitability.
It's understandable however that you saw it as a personal attack, since most of my statements have been seen as such.
Ah right, Sorry I misinterpreted your reply.
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
It's a huge risk but
''The biggest risk is not taking any risk... In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks''
I don't think this can be considered a risk, more of a poor decision due to not considering all the variables.
Variable 1) price of bitcoin collapses next year (just a theoretical situation, not bearish on the market)
Doing so greatly decreases the amount you will receive from month to month.
Variable 2) Tax implication of cryptocurrency is still in its infancy. In any case, short term capital gains are not favorable for investments.
Variable 3) - overall power of the hashrate over time. My cousin and I run a small business mining, right now we are just trying to break even. That being said, when we started, an antminer with 13.5 ths/sec, got us $18 a day, now we are down to $12 a day. Over a 3 month period we are seeing a collapse of 33%.
Antminers are being pumped out on a daily basis and as such, are inflating the overall hashrate in the entire mining industry. Not to mention, the future miners that are expected to come out that offer even more hashrate. Therefore, a hashrate of 134 ths/sec will most likely not get as much of a return one year from now as it is today.
I'm not saying that this is a bad investment, however, I am saying the returns are inflated. After the first year you may or may not get your money back (at the current price amount). Of course, Returns will follow after that (again, considering the price stays the as high as it currently is or increases to a higher amount) however, as to how much you will get after that, is up to the market.
The really troubling part is the $47 mining fee. If its percentage based, you'll be ok. But if its a flat fee, the company is ensuring that they will always make money on you.
What happens when the reward is smaller than the fee? do you have to pay them back?
Just to let you know I have actually already made my money back from this as well as a large chunk of profit. To keep ahead of the difficulty you simply reinvest a certain amount of times per month
Ok, so you are already admitting that a straight $20,000 investment, without reinvestment will not receive the gains you are promising. Thank you for admitting that much. I kindly request you change your article to address that mathematical flaw.
In retrospect, in order to stay ahead of the difficulty and the inflation of new antminers, you will have to invest anywhere from, $25,942 dollars to $33,554 over a year's time based on very conservative increases of .5% and 1% reinvestment increases each week for 52 weeks.
The numbers get staggeringly higher should a higher amount of reinvestment be required each week.
What are you even on about? I showed you the amount of power I have... guess what? It is $20,000 worth! Including reinvestments.
If you invest $20,000, to get 134 ths/sec. and such a hash rate gets you $105 per day, and each week you have to reinvest $100 in order to continue getting a similar reward, how much have you invested after the first week? Is it still $20,000? No, it's $20,100.
Now, you still have the same buying power as before (after considering difficulty increase) but you are also beginning to increase your investment to see such gains.
Do you understand what I'm on about now?
Stating that a $20,000 investment will get someone a $35,000 return, while leaving out the required reinvestment needed to maintain the reward level over time is misrepresentation.
You are not investing JUST 20,000. You are investing 20,000 PLUS regular, most likely weekly, investments in order to maintain your reward amount to get to $35,000.
Also you are 100% talking out your ass about investing anywhere between $26k to $33k. Where did you get this from?
hash rate inflation and difficulty increases of .5% each week shows 26k, hashrate inflation and difficulty increases of 1% each week shows 33k.
As such, my only argument is that you cannot receive a straight $15,000 profit over a years time with just your current investment, unless there is additional reinvestment, and as such, you have done absolutely nothing but agree with me.
I'm simply asking you to stop misrepresenting your return, which you have already agreed is misrepresented.
"It is $20,000 worth! Including REINVESTMENTS."
"To keep ahead of the difficulty you simply REINVEST a certain amount of times per month"
After today you will continue to reinvest. And in a years time you will not have $20,000 invested, but far more, anywhere between $26,000 to 33,000 based on my own numbers. Thus, overall profit is grossly overvalued.
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
Good Post man ...your post is very helpful ..I like it..
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
Indeed to get started with mining these days may seem easy and profitable, but it's not that easy nor that profitable. You have to pay for electricity, difficulty always rises, equipment fails sometimes and has to be replaced or maintained and overall you must know what you are doing. It is true that mining can be profitable :)
His numbers are over exaggerated at best. Will you make a return, sure. But not that much, not without reinvestment. If that's the case, then the overall investment needed to make that kind of return makes the investment itself begin to see more and more of a rip off.
Again you talk from your ass. Go do some research.
I'm actually not. A straight $20,000 investment will not make you $35,000.
You have already admitted that you have to reinvest several times each month to match the rise in difficulty. As such, You are not investing 20,000. You are investing an original 20,000 investment plus additional investments each month to continue your reward level.
Please, explain to me how someone invests $20,000 today will continue to make 105 a DAY based of YOUR OWN CALCULATIONS, WITHOUT ADDITIONAL INVESTMENT.
Please. I'm waiting.
$15,000 gross profit is grossly misrepresented and you know it.
I just told people how to stay ahead of the difficulty (does not mean I do it every month)
That is to stay ahead of the DIFFICULTY, Like I mentioned the price of Bitcoin is also rising alongside the difficulty making it irrelevant
If you go look I have $20,000 in power! Not much more! I factored in the amount I have reinvested.
I have previously asked you to not reply again to this post. Please listen this time thank you.
Yes, you have factored in the amount you have reinvested, but not the amount you will have to continue to reinvest over time.
Honestly, mate, I've been nothing but respectful this entire time. If polite criticism, and opposing viewpoints are offensive to you, than i sincerely apologize.
I have 40 TH/s on Genesis and 28 TH/s on Hashflare. They were both suppose to be lifetime contracts, but HashFlare changed of of ours to one year. I will still make a lot of profit but that is bad business and I will not give them another dollar. Genesis sent us all emails saying that they will never do that to their customers
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
@mbg11 and @btcvenom you have been fighting for some time so please don't. Each has his own point, and it's definetly clear that you don't want to agree each other, but we are here to learn and share experiences. Of corse mining is profitable, that's why there are so many miners which are not losing money so the point is that one must know what he's doing when involved in mining in order to stay on top. I guess you can agree on that so I wish you a good and positive day!
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
That's great informtive post man :)
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
A great post. Thanks for sharing!
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
lol i only have 0,4 TH at genesis mining ;)
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
Hashflare.io kind of get me ill.. Fluctuations in payout and seems to go down probably due to increased mining difficulty.
Probably high investment yields..... I just tried the system, kind of part of my crypto journey experience
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086
I don't think I will be doing any of these cloud mining systems anymore, with the experience I have gathered over time. If I was to get into mining, I will get my hardware myself and join a pool...
that way I still the option of selling off the hardware to recoup some of my loses if things go bad
Why you should NOT get into cryptocurrency mining: https://steemit.com/mining/@walczakit/why-you-should-not-get-into-cryptocurrency-mining
0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086