As a hashflare user, I have serious doubts regarding hashflare profitability. At the current exchange rate (about $11k/BTC), difficulty (about 2.6 trillion), and contract cost ($220 s/TH), a 1 TH/s contract yields less than $1 per day. It will take over nine months to recover the cost of the contract, and that's if nothing changes. The last several difficulty increases have failed to restore the block solution time to the nominal 10-minute level. Total hashing power in the network continues to increase despite declining profitability parameters. This suggests to me a near certainty of further significant difficulty increases over the next weeks and months. As a result, I think hashflare contracts bought today have a high likelihood of expiring before they pay for themselves. Therefore, I have suspended reinvesting, and am holding my hashflare mined bitcoin pending improvement in the market conditions or reduction in hashflare contract price.
I see your point here and I agree that it may not be profitable with the current price and difficulty changes, however, I do think the risk from cloud mining is lower than some altcoins. I myself have a small contract with Hashflare and I think even with the price drop over the past month the price of bitcoin at the end of my contract will still be profitable for me. I also think its best to diversify when investing so I don't have all my money in cloud mining, I have some in cryptocurrencies, some in stocks and some in cloud mining. Hopefuly the price will go up and the difficulty will equalk out and it will be profitable for both of us.
Agreed on all points, especially your remarks about diversification. I certainly wish you the best and hope you are right about mining profits.
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