Today Hashflare announced a significant change in their mining contract: All previously sold lifetime contacts will be terminated in one year. From 1st of September new rules will enter into force and price for new SHA-256 (Bitcoin) hashrate contract will increase in 2x times.
It is changing everything! So, if you thought you had bought a contract from HF that will bring profit for years, you was wrong.
Lets compare mining contracts from Hashflare (HF), Genesis-Mining (GM) and Hashing24 (H24) with new prices. Please also see my previous report.
HF SHA-256 contract profit calculation before Sept. 1:
BTC-HF: # return in 4.1 monthes
investing: 100 # USD for 364 days
income: 404.4 # USD
maintenance: 106.2 # USD
profit: 198.2 # USD (198.2 %)
Almost 200% annual profit is to much to share with clients.
New price calculation:
Coins: # 2017-08-31
BTC: 0.00000283 # coins per day for 10GH/s
LTC: 0.00078961 # per 1 MH/s
ETH: 0.0000202464 # per 100 KH/s
DASH: 0.00000197 # per 1 MH/s
ZEC: 0.00000163 # per 0.1 H/s
invest fee earn ratio revenue maintenance \
BTC-GM 100 0.186667 0.886126 0.699459 323.436 68.1333
BTC-HF 100 0.145833 0.553829 0.407995 202.147 53.2292
LTC-GM 100 0 0.391965 0.391965 143.067 0
LTC-HF 100 0.0869565 0.477174 0.390218 174.169 31.7391
ETH-HF 100 0 0.349879 0.349879 127.706 0
BTC-H24 100 0.103286 0.416022 0.312735 151.848 37.6995
ETH-GM 100 0 0.257436 0.257436 93.9642 0
ZEC-GM 100 0 0.0600859 0.0600859 21.9314 0
ZEC-HF 100 0 0.0222018 0.0222018 8.10364 0
DASH-HF 100 0 0.0125466 0.0125466 4.5795 0
DASH-GM 100 0 0.0121284 0.0121284 4.42685 0
profit return percent
BTC-GM 155.303 4.76667 155.303
BTC-HF 48.9183 8.2 48.9183
LTC-GM 43.067 8.53333 43.067
LTC-HF 42.4295 8.56667 42.4295
ETH-HF 27.7059 9.53333 27.7059
BTC-H24 14.1483 10.6667 14.1483
ETH-GM -6.0358 NaN -6.0358
ZEC-GM -78.0686 NaN -78.0686
ZEC-HF -91.8964 NaN -91.8964
DASH-HF -95.4205 NaN -95.4205
DASH-GM -95.5731 NaN -95.5731
Annual profit for "BTC-HF" contract dropped from 200% to approx. 50%. Since BTC and LTC contracts from GM are out of stock, the "BTC-HF" still attractive, but HF reputation ruined. Probably the profit is much dearly than brand.
I will looking for future services with uninterrupted smart contracts and decentralized court of justice.