So Where Can I Buy Legitimate Hashrate?
I often point out who is very shady or perhaps incompetent but I do not often promote any business due to the very difficult nature of ascertaining lasting and legit cryptocurrency businesses from those who are looking for fresh bag-holders.
In cryptocurrency you cannot really trust any actors or businesses due to the extremely volatile and high-intensity, profit-driven, scam-filled environment (isn’t that why we are here, down in the mire?).
One company that has consistently provided effective, profitable hashrate is Hashflare.io. In the future I will profile other admirable corporate attempts at cryptocurrency success but for now I can let you know for over approximately two years Hashflare.io has kept its contractual obligations. I have broken even on these contracts (SHA256 and Scrypt) over a year ago! I cannot say anything bad about this.
One warning I will provide the user is that Hashflare.io will charge a rather significant network fee for withdrawing money so a larger investment would be more efficient. The current network fee for Bitcoin transfers out of your account is: 0.001 Bitcoin. Current payment per terahash of SHA256 hashrate is 0.00031505303 Bitcoin per day (about $1.05 USD at time of publishing). The current USD cost per terahash of SHA256 hashrate is $120. That is a roughly 4 month break-even. Not bad.
Other hashrate has become actually more profitable. My Scrypt hashrate has produced ever more per diem over the past two years due to the upward creeping price of Litecoin.
Let me take a moment to point out Litecoin is slightly faster than Bitcoin and owning primary currencies from a diversity of algorithms = security in cryptocurrency investing.
Interesting features include auto-reinvestment. Oops, I’ve left it on a few times accidentally and unlike other sites I did not regret it. Can I promise this operation will perform in the future in the same exact pattern it has in the past? Negative. I can tell you my observation and experience from 05/17/2015 until 07/03/2017 or over two full years which has been glowing.
To Hashflare’s benefit: in the course of two years I have not added more money. I have only reinvested earnings. I assume from this it is certainly not an investment-dependent ponzi (unlike Hashflare an investment-dependent ponzi scam will drop you when you quit investing regularly) or anything of that sort. As of now I can say only good things about the operation and the company Hashflare.io (support is responsive but not often needed due to proper design).
OFF TOPIC: I recall when Hashflare was promoting their cutting edge ASIC miners for the consumer market (2014-2015?). I remember many ASIC pre-orders being rejected as the business realized they wanted to simply provide cloud hashrate instead of following in path of large operations like Chinese titan Bitmain. Unlike Hashflare (Hashflare is an Estonian operation?) the Chinese ASIC manufacturer Bitmain uses their latest chips to mine cryptocurrency themselves before mass-producing and selling both physical units and cloud hashrate when they later hit a point of uncertain term efficiency.
There is nothing explicitly wrong with this at all, you are buying hash-rate and assuming the risk it becomes unprofitable as well as the potential it becomes quite a bit more profitable, that is all there is to “cloud mining”. It is a pretty even investment with a legitimate operator like Hashflare or slightly less preferably Bitmain. Although some readers may like to know Bitmain offers a 24/7 market for fractional hashrate whereas Hashflare does not provide a market- though this means little in legitimacy terms it means a great deal to some people who like to trade hashrate or who wish to have a dump-and-exit option).
Hashflare.io is more straightforward and offers hashrate for SHA256, Scrypt, X11 (Ethereum), and Dash. The question of buying hashrate boils down to: are you bullish or bearish on cryptocurrency? Invest according to your perception of success for each primary currency in each algorithm category. Don’t forget algorithms can always acquire new primary currencies with a break-out success and become more profitable.