Sunday, 7 January 2018

My Bitcoin Cloud Mining Result

Disclaimer: I am not a financial adviser. All investments come with risks. My blog posts are for edutainment purposes only and should not constitute as financial advises. My personal thoughts are cryptocurrencies can be volatile and we should only risk the amount that we could afford to lose.

In my previous blog post, I blogged about getting into cloud mining with Hashflare. I opened a year's contract service with them on 29th Dec 2017. 10 days have passed since then. I funded my btc mining account with USD$500. Below screenshot shows the amount of bitcoin that I currently have. The amount of daily maintenance fees have already been deducted.

Huh. $25.65 so little?

So I only received USD$25.65 worth of bitcoins after 10 days of mining? Actually no. I reinvested 4 days of btc mined into new contracts. $25.65 is for 5 days of mining that I didn't reinvest. Average is $5.13 per day. Do note the amount mined will fluctuate and it's not likely the price of Bitcoin will stays the same. 

Currently, there's around 16.8M of Bitcoins supply on the Market. There will only be 21M of Bitcoins that can ever be produced. Therefore we should try to get in as early as possible. The mining difficulty will only get higher as time passes. However, only get in if you believe Bitcoin price is going to increase over time. For those who feel Bitcoin is overpriced and it is a bubble, there's no reason to go into Bitcoin mining.

Screenshot from Coinmarketcap

If you find my blog posts useful and would like to reward me, please use the referral banner below to sign up. I would earn some referral commissions at no cost to you. I am not affiliated with Hashflare though.

HashFlare

For those who think cryptocurrency "bubble" is going to explode soon, take a look below:

Some Crypto Exchanges that carry altcoins are seeing the traffic surge that they couldn't support new clients. People are still trying to get into the Crypto Market. Have you ever seen our local exchange or stock broker rejecting new clients? 2018 is the year for altcoins and ICOs. Happy investing!

3 comments:

  1. Look how everybody was doubting in BTC and still, always coming back - its just the first and best cryptocoin. For sure there are some possibly good alt-coins like Verticoin out there, but the majority might be scam just looking for quick profit and then disappear.. Ripple was pumped by the media even, backed by banks the hype was big, but there will be bagholders - to big supply! BTC just has 21Million Coins in total once all mined, thats what will surge the price up and the reason i stick to that!!
    At these prices i use cloudmining to get more coins! Already in hashflare (https://hashflare.io/r/198E8BFD-18 )
    Legit company in my opinion, really happy with the gains!
    found another young mining company that does look good as well, but not as long in business like hashflare, so here more risky, but the reward much higher! -> just make sure you make daily withdrawl, to get back your initial investment first and then free ride!!!
    https://goo.gl/8wfY3N
    2 year Cloud Mining Contracts. 50 days or less ROI. few days left to use promo code XMAS30BTC for 30% off 20 TH/s (cost with promo is $1792) or more TH/s
    They are new. Trying to steal market shares from Hashflare and Genesis!! If you don't want 20 TH/s or more, use the 10% off code HAPPY2018

    Just sharing a thought, up to you guys - make your own DD, best to you and yours

    But if you want just invest in stocks - I do recommend you GROW (US Global Investors, they invested big in ETH) or DPW (Digital Power, they want to buy thousands of antminers), my investments at least

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  2. I actually had an account with the other mining company that you mentioned. Besides being quite new, there are other stuff which I am not so comfortable with. I did not fund that account.

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