Hashflare Update — 4/5/2018 — First Withdrawal
It has been a month since my last update. In the past month BTC has kept its downward trend and sitting at $6600 USD today. Ssome alt coins are starting to recover. HF has reduced the cost of SHA-256 to $1.20 and has been pushing 30% discount codes. Here is my summary of the past month. Read my original review here.
Let’s get the big one out out of the way first. This week HF reduced their withdraw limits again and I took advantage of it. Since joining HF on Jan 8 I’ve accumulated ~0.03 BTC (not a lot I know.) I did reinvest for my first month. The withdraw was simple, and within 45 min my 0.3 BTC was in my wallet. No issues. No delay. No SCAM. Just BTC from their wallet to mine. Case closed.
There are tons of posts about fees on Reddit. It seems like either a) people don’t understand them when they signed up b) they are overly complicated. It’s the former. So don’t get made that you didn’t understand what you signed up for. Let’s add some clarity. HF charges a fixed maintenance fee per 10 GH per day. This fee covers their operating expenses. They are a business, most people seem to forget that.
That fee is has not changed. It’s still $0.0035 USD. I’ll reiterate, it has not changed. What changed is the value of BTC in USD. As the value of BTC has gone down, the percent of daily earnings being used to cover fees has increased. It’s very simple. Which leaves me puzzled why so many people seem accosted or shout “SCAM” when their daily earnings are less now then they were when they started. After all, BTC is valued at $6,600 today and only a couple of months ago it was valued at $20,000.
Will I be Profitable?
Short answer is I do not know. I can’t predict the price of BTC. If BTC sits where it is, I’ll be happy to break even. My original investment was 0.11 BTC and I’ve withdrawn 0.03. 0.08 let to go! Time will tell.