Hashflare 600$ investment progress update
It has been 14 days since I joined Hashflare and I think it was a good move!
Right after I invested into the site the price of bitcoin had plummeted from 16k down to 11k which means I was able to buy a lot more hashing power. The price of contracts has also increased by 50% on hashflare.com. I assume this price increase is a direct result of bitmain increasing price of S9 miners from 1400$ to 2700$ which in my opinion is a huge jump and just shows how little competition bitmain face.
As far as my contract I am very happy with the numbers so far. Considering the BTC price is down I am still looking at almost 4X returns for the year if the price stays the same. Obviously I am aware the difficulty is also a factor but with BCH and BTC constantly fighting for the hashing power I don't think the difficulty will increase as much.
I have also discovered a very cheap way to transact bitcoin to pay for the Hashing power. With super high fees it did not make sense to use bitcoin for payments as the transaction fee was about 40$. But I was able to send funds directly from Poloniex exchange who have a very small fee of -0.00050000 BTC which works out at 7$ at current price.
If you look at the numbers I am receiving 1% which is a very good return, I also expect BTC price to go up, in that case I will probably buy more hashing power. Comparing this with Bitconnect I think the returns are slightly lower but with all the FUD about Bitconnect I feel it is a bit late to get in now. Just my opinion! I could be wrong and would love to hear about your experience with bitconnect!
If you wish to sign up feel free to use my link :)