Buying a hashrate makes any sense? I want to start mining through one a cloud service and seems that hashflare.io is a good one. So when I go to the "Pricing" section of the website is say's that I can pay USD $1.20 per 10 GH/s.

How does that make any sense? I'll pay to have a rate, which is measured in seconds. But for how long am I going to keep that rate?

It says it is a Lifetime contract, does that mean I'll pay $1.20 and keep earning bitcoins forever? Seems a bit too generous to me.
It says it is a Lifetime contract, does that mean I'll pay $1.20 and keep earning bitcoins forever? Seems a bit too generous to me.


It is too generous. Read the fine print.


  Lifetime contract*
  * as far as mining remains profitable
  Maintenance fee: 0.01 $ / 1 MH/s / 24h


i.e. you pay a fee for the electricity and colocation, and if that fee exceeds the revenue of mining, the contract is over.