Hashflare.io - BTC mining, maintenance costs to be considered before you buy

in mining •  7 years ago  (edited)

Dear Steemians,

I have been wondering the maintenance charges that the hashflare.io deducting the BTC mining payout - do you believe its 80% + in the current market BTC, which means essentially the contract buyer is going to get nothing, buying a yearly contract worth of $ 1200.

Most misleading fact is that they don't include the maintenance cost in the forecast in the user login. So the below picture depicts to anyone that after 1 Year, the contract buyer is going to get that much worth of BTC at current price. But not, this forecast is without maintenance which is 80% + for the 5.4 TH/S Hashrate of worth $ 1200 as on 30th May market.

So, if you buy 5 TH/S the fixed maintenance will be of $ 1.75 per day and the payout at the current rate today is $ 2.32 so that leaves nothing but 57 cents. So I believe its not good time to buy the contract now. I am not against hashflare, only that I bought a contract and essentially realised not getting anything, that could be a market situation. May be if this could help someone consider the situation before buying the mining pack.

Thanks for reading and Steeming.. Good day!!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @naveenkolli! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

SteemitBoard - Witness Update
Vote for @Steemitboard as a witness to get one more award and increased upvotes!