BITCOIN CLOUD MINING: whether investments are profitable

A lot of people have a question whether investments in cloud mining are profitable. I can share here my own investment experience in Hadhhlare.

Hadhhlare offers to buy a hashrate and takes fee of maintenance and electricity 0.0035 USD per day for every 10 GH / s of the SHA-256 contract in the bitcoin equivalent. What is written on the website: "The MEF is linear and equals 0.0035 USD per every 10 GH / s of SHA-256 and 0.005 USD per every 1 MH / s of Scrypt per day. Ethereum contracts are not subject to any fees. "

When 1 BTC was equal 6800 USD this meant that 2/3 of the bitcoins which received per day the the customer gave away for MEF. That is, you invest your money in mining to get more bitcoins than you could buy on the Cryptocurrency Exchange, and in the end you get half as much as you could buy.

I asked the tech support to confirm my calculations. Here is their answer. "If the exchange price of BTC grows - MEF costs less in BTC, and when BTC / USD falls - MEF becomes higher. Despite the fact that your amount in BTC becomes higher in condition of price BTC grows, you still pay the same amount in US dollars. "

Well, I thought. I will count, what price of BTC should be taken to get a break-even, and at what price of BTC should be taken to get a profit. It turned out that the break-even occurs at the price of 8500 USD per 1 BTC. Well, that means, at the price> 8500 USD for 1 BTC I will get more bitcoins than I could buy on the exchange.

A week after my request, bitcoin exceeded the mark of 8000 USD, and a week later it cost 9300 USD.

Do you think the situation has changed dramatically? No! Until April 10, 2018, I received 0.00033 BTC per day, and on April 24, 2018 (1 BTC was worth 9200 USD) I received 0.00034 BTC per day. At the same time, in the personal cabinet of Hadhhlare, the profitability forecast (does not include the fee for MEF) was:

I again turned to techsupport for explanations and they answered me this way: "Profitability is formed depence on the market and the constantly growing complexity of mining. Unfortunately, we are not able to influence these processes. "

I asked for a refund of the remaining funds, but I was refused. Now I do not even know if I can get the bitcoins from Hadhhlare.

While it's hard for me to conclude, cloud mining is simply an unprofitable business or, after all, Hadhhlare is scammer. But in any case, be careful with BITCOIN CLOUD MINING from Hadhhlare!

If you know whether Hadhhlare is scammer or not, pls, write me.