Is HashFlare's Spring Sale Worth It? (March 2018)
HashFlare has had two sales in 2018 so far, one for Valentine's Day back in February, and now one for Spring. In this guide we'll go through if these discounts are worthwhile, or if they're just because of a decrease in demand.
HashFlare's price changes over 2018
HashFlare tend to change their prices quite often. We'll start by going over recent changes. Dash has been out of stock for several months, so we won't include it in this guide. Scrypt contracts are for 1 MH/s, SHA-256 contracts are for 10 GH/s, Ethereum contracts are for 100 KH/s and ZCash contracts are for 1 H/s.
You can use the Wayback Machine to look at older versions of HashFlare's site yourself, where you can see their pricing at various points in time.
SHA-256: $2.20 (increased from $1.50 on 19th)
February 2018 (all contracts have 10% off between 13th - 18th for Valentine's Day)
Scrypt: $4.20 (decreased from $7.50 on 13th)
March 2018 (all contracts have 10% off from 1st onwards for Spring)
SHA-256: $1.80 (decreased from $2.20 on 1st)
See current profitability of HashFlare contracts here.
Bitcoin contracts are back to early December pricing
Back at the start of December 2017, Bitcoin SHA-256 contracts were $1.50. Since then they've been increased to $2.20, then decrased to $2 in the Valentine's sale, increased to $2.20 again, then decreased to $1.80 in March - and then offered with 10% off that for Spring. So between December and March the price hasn't really changed; but now it has, now it's only $0.10 more than early December pricing.
The cause of this is very speculative, but it's likely related to Bitcoin's price. In early December Bitcoin's price increased very sharply. This led to Bitcoin mining calculators showing it to be very profitable, leading to an increase in demand for Bitcoin mining both in physical hardware like ASICs and cloud mining companies like HashFlare. With all this new demand HashFlare saw lots of new purchases. Because Bitcoin mining was so profitable, they could increase their pricing and remain competetive.
Since early December though, Bitcoin's price has gone down significantly. In early February it went down so much that many feared their HashFlare contracts might end early due to maintenance fees being higher than their daily mined coins. This then likely led to a decrease in demand for HashFlare's services, leading to the recent drop in SHA-256 contract prices.
Buying in Bitcoin vs Fiat
This is an area you need to be careful with. Back in December Bitcoin's price was a lot higher than it is right now. In December it reached as high as $20k, but right now it's only $11.4k. So if you were to buy a HashFlare contract right now with Bitcoin, it wouldn't be as good value for money as in December. The biggest benefit at the moment is buying in fiat (although their prices may continue to decrease if Bitcoin's price doesn't increase significantly and its difficulty keeps going up).
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