Hashflare - My $500 End of March Review + Best Daily Mining Pool - 01-APR-2018

The month of March was once again a crazy month in the crypto world. Bitcoin began it's rise but mostly stayed below the $10k mark, once again playing havoc on all things crypto. Hashflare was no different, the further Bitcoin dropped, the less profitable Hashflare became and their maintenance fees remained higher. They did lower their hashrate buy in from $2.20 down to $1.20 again. Which is unfortunate for me and others that bought in at the $2.20 mark, making Hashflare less desirable for us. It would have been nice to have seen Hashflare at least give us a 50% bonus to our hashrate to compensate for the one - two month capital loss.

I said that I was going to invest everyday this month as long a BTC was above $10k. I did make one investment which was this one.

I only made the one as BTC was fluctuating quite a bit and when it did hit over $10k I put the purchase through. I also regret this decision because based on current BTC with maintenance costs, I might be lucky to get back my initial $500 investment which is here.

My dashboard is not looking great and as you factor in maintenance fees... It gets even worse, a lot worse. As you can see, my yearly return not including maintenance fees is $551, only $45 more than my initial investment, not including reinvestment, which I have purchased an additional 1 Th/s. Now of course this doesn't take into account that I paid $2.20 per 10 Gh/s instead of the now $1.20.

So how much are current maintenance fees you ask? With BTC hovering around the $7k mark, more than half of what I take for profit.

I don't know what I can say about Hashflare right now. As long as BTC is below $10k, I would stay as far away from it as possible. I am starting to think that I just have to let this ride out and stop reinvesting so that hopefully, I will get my $500 back. As of now, it is not looking that way and I certainly cannot recommend Hashflare at this time.

I would like to say that I don't believe it's Hashflares intention that we lose money through this platform, but I would like to think that they would try to make it profitable, no matter what rate BTC was at, unless it was completely under water. But at $6k BTC, It should be profitable in my opinion and it is not.

So for the month of April, I'm going to do the daily best pool and at the end of the month I will do another update review and see how Hashflare is performing. Hopefully things will change for the better. I hope this helps your decision making on whether Hashflare is right for you or not.

Daily SHA-256 best mining pool based on Bitcoin per 1 TH/s

Antpool is the winner!!

Antpool for those who don't know, is one of the largest mining pools available and is owned by Bitmain. Creators of the popular ASIC miners such as the Antminer S9.