Hello steemians,
Today I have adventured myself into the cloud mining world. I have decided to go with Hashflare since they one of the most respectable cloud mining companies plus they have still mining contracts remaining contrary to Genesis Mining. I bought 2.4 TH/S of Sha-256 with a value of 360$.
According to this calculator: https://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=2400&p=0&pc=0&pf=17&d=1590896927258.08000000&r=12.50000000&er=18647.69000000&hc=360 I would recover my investment of 360$ after 61.31 days but that it is not what I am planning to do.
Due to compound interest and the ability to reinvest you can be able to multiply your initial hashpower (2.4 TH/S) by 117 times (268.8 TH/S) so I will reinvest everything for one year because then in only one day I would be able to recover my initial investment.
The only problem this has is bitcoin mining difficulty but I highly doubt it will multiply by over 100.
It is true that I will have my investment locked but before investing you need to make sure you can afford losing all that money.
Reinvesting is the best thing for the long-term and I will be keeping you updated.
I am going to leave my refferal link if you wish to register but they do not longer have a discount for activating the code, it would be really helpful if you used my link but you can also use others people links to reward them.
Link to register: https://hashflare.io/r/CF781A17
I would love to hear your thoughts about cloud mining in general and particularly on Hashflare.
