I use HashFlare and like it. This short article is just my advice on buying of hash power today (Feb 24th.)
HF recently dropped their cost of 10 GH/s from $2.20 to $1.80 and BTC is has a market value of approx. $9,700.00/BTC. HF dropping their price is a great things for 2 reasons. First as a buyer, we get more bang for our buck. Secondly, it shows that HF is responding to the market. They are adapting to BTC’s current trading value. To me this is huge, as it once again demonstrates HF constantly improving.
But should you buy more hashing power now. I wouldn’t. Here’s why.
- With BTC being valued at less than $10,000.00, the amount of BTC you spend to buy power increases. I believe in BTC and I want as much BTC as I can get in the long run.
- HF’s fees have not adjusted. Maybe they never will, but until BTC’s value is north of $10k the fees cut into margins a little too much for any new contract purchases.
- BTC’s value is too volatile to not wait. A $1k swing in value is not uncommon, so just wait. When BTC hits $11,000.00 again, and if HF’s price remains at $1.80 for 10/GH, then buy! You’ll get about 10% more power for the same cost.
In short, I still love Hashflare and the platform they put together. But some times you just need to pump the breaks and wait. And, that’s why I’m not buying more power right now.
Even though buying today isn’t a great idea, and you find this helpful still want to check out cloud mining yourself, please use my referral link to Hashflare here.
