Topic: Cloud Mining Journey (with Hashflare) - page 5. (Read 4629 times)

So how far off was the 2.5 to 3 months estimation for ROI (at least virtual ROI, meaning that you generated enough BTC to match your investment)?

I had invested  very less small portion of BTC on the hash flare site long time back , that is around 6 months back , but i can still it is showing daily profit calculation status , but not withdrawn till now , because it is less BTC amount  to withdraw , probably i may need to wait watch for the withdraw time. restrictions and security shows it may be good site.

Wow !

There is a few hours left now before the difficulty is recalculated to match the current network hashrate...

I dont know what is the exact formula to determine the next difficulty based on the current Average number of blocks found every hour.
 ( see https://fork.lol/blocks/time ).

I hope that is not as simple as : One block found every 7.3 minutes since last difficulty instead of 10 minutes :
10 - 7.3 = 2.7 ( 27 % !!! )

I usually found around 17% 18%, which is quite a lot in anyway.

I will have probably to change my goal and postpone the moment for break-even if i want to maintain some regular outcomes ( converting regularly BTC => FIAT )

=>  https://hashflare.io/r/5906301A  <=

• Yesterday's mining results - BTC0.0029
• Total profit so far - BTC0.03
• Screenshot: https://i.imgur.com/fIaIOBt.png

DAY 13
I haven't posted for a couple days. I've been a little busy. Apart from life, I've been trying to find actual miners to purchase. Too make a long story short, Litecoin and Bitcoin miners are just all overpriced right now. I feel like when difficulty increases or price decreases, a lot of people will realize they seriously overpaid. Ironically, you can get Dash miners for less than original cost, so I actually purchased a new Bitmain D3 with APW3++ on eBay for $1000. Set it up in my garage and it has been running for a couple days with some minor issues. Gotta admit, it's a lot less stressful then cloud mining since daily payouts go direct to my wallet.

Anyway, back to Hashflare....daily payouts have remained fairly constant at around 0.003 per day. I now have BTC0.032, but I still can't withdraw. First, because of the two week hold on credit card accounts. Second because Hashflare has stopped all payouts. Getting a payout is the last major hurdle to cross before I will feel comfortable with Hashflare. UPDATE: Just noticed that Hashflare plans to restore withdrawals on 12/18 (that's tomorrow). So, in a few days, I'll be able to test out the withdrawal process and let you know if it worked.

Also, by now you all know, the drama over the domain name is ended. Hashflare renewed their domain for another year as I expected they would.

Honestly, I'm starting to feel these guys are less a scam and more just a poorly run company.

I'm following this post as I just purchased a 2TH contract a few days ago.

I think next to Genesis, Hasflare is a good cloud mining site. They've been in business for a few years now.  I've contemplated setting up my own mining rig or buying cloud mining.  But since I am not tech savvy and setting up my own rig means I have to study it first and learn which means I have to put in a lot of time with it.. Which I don't have much to spare  

So, I think for us not so tech savvy, cloud mining is the next best thing which is HashFlare.

Never really have any doubts with them. So far, they are paying daily and I see it on my dashboard.

And if they end up being a scam, I put in money I can afford to loose, I am not stressing over it.

The good news is I saw this when I login:

Update: We are planning to restore BTC withdrawals during Monday, 18.12.2017.

Some tips and advices :

• Always check the official twitter before jumping into FUD : They always report current issues and solutions on both  
       https://twitter.com/hashflare    
• The same information is also reported on the top of your hashflare dashboard
• Join the Hashflare Officlal Group on telegram, You can get there any up to date information ( and dont forget to scroll down on previous message
       as same questions are repeated many times a day

=>  https://hashflare.io/r/5906301A  <=

And don’t forget that Hashflare’s mother company is HashCoins (https://en.bitcoin.it/wiki/HashCoins).
So if this was a Hit&Run scam this would drown HashCoins too.

Another thing: Hashflare uses their own resources in regards of hardware and software.

Elkoxon beat me by a few minutes with his comment ;-)

People that sat HashFlare have no capacity somehow miss the fact thah HashCoins makes their own miners, yes they manufacture their own miners so i don't think they will have a capacity issue anytime soon... IT's a fact.

It's amazing that there are so many people just posting same comments over and over and over and over again.

I am sure they will still keep saying same stuff even after you prove them wrong, they are just bitter as they invested in some scams and now they thing they are all scams

Genesis is a major shareholder of a company on a Canadian stock exchange, so they need to have plenty of PR materials for the prospectus.
Hashflare has some mining setups on their Instagram - https://www.instagram.com/hashcoins/ .

I'm not sure about it, since hashflare has been around for 3 years but it's nothing without legit evidence about their mining equipment such as genesis has some videos about their mining farms. I totally understand if they want to keep their location in secret, but at least there should be some proofs about their mining activities, in order to convince people to trust them and not consider hashflare such as ponzi scheme.

I think it is better to think twice if we want to invest our money in cloud mining because the chance for us to get ROI is far away and if it is true we can reach ROI then it will need more than 1 year. it is better to use the money for another thing like doing trading so we can try to search another profit. but if you want to try in the cloud mining, then maybe genesis could be your option but remember, you need more than 1 year to reach ROI.

Yes, I would not be doing this if Bitcoin prices weren't as high as they are now. Genesis has one million customers, so things can't be all bad on the cloud mining front.

IMO it's not entirely a scam, but a really bad investment. I've done this a few years back, although the entire situation and prices were different back then, after a year of holding on and reinvesting, the end returns were still negative.

And for all worrying about the Domain Status ... it's renewed now:

DOMAIN INFORMATION
Domain:hashflare.io
Registrar:Key-Systems GmbH
Registration Date:2014-12-15
Expiration Date:2018-12-15
Updated Date:2017-12-15
Status:ok
autoRenewPeriod
Name Servers:yichun.ns.cloudflare.com
jade.ns.cloudflare.com
REGISTRANT CONTACT
Name:Sergei Potapenko
Organization:HashCoins OU

If I understand it correctly regarding the whithdrawl issue it's not their fault but a problem with block.io

So by stopping withdrawls they do us a favor. As they say they evaluate the situation and will see how fast block.io will solve the problem or they might change the processing gateway.
Considering this I think it's a god idea to avoid putting more people into the waiting line.

Just my two cents ... new to this. Just recently opened an account at Hashflare with some small money I can afford to lose (just in case)

Cloud mining like most ponzi scemes works great if your at the beginning end.  If right now is the beginning of hashflare nobody really knows for nobody really knows whats foing to heppen with btc in the next few years.  If the US government starts to add limitations and fee that would really hurt the market as the US is the largest economy in the world.  Best thing to do is give hashflare a try bit DONT spend more than you can afford to lose.  Also hashflare has been having subtle changes that make them not as profitable as they use to be lets see if these changes will continue.  Currently hashflare is NOT allowing new withdrawal request or purchases due to a backlog.   Not a good sign will my btc even be there after they sort things out or will it get lost?  I dont have much $$ to invest so it wouldnt be that big of a loss for me personally but still something I have to keep in my mind.

If the Hashflare website goes down, check their social media before you panic. The December 7th outage was posted on Twitter.

On Facebook, they posted this regarding the domain expiry...


https://twitter.com/hashflare
https://www.facebook.com/HashFlare/

I recently bought hashrate from them, so I hope they stick around. I personally don't like the idea of having to run bitcoin miners in my own home. This way I don't have to wait for noisy, power hungry hardware that might go DOA due to the long trip from China.

The transaction fees on the Bitcoin network have lately been unusually high (300-400 S/B for unconfirmed), so that's maybe why they are having payment problems. Last month it was only ~100 S/B.

The aura over these mining sites is insane. Some are so certain it's a scam, some just don't care because they get paid.

It really does sound too good to be true... I mean where else on earth can you make your money like that?

I just spend 825 and got 5.5 th/s... I used money I've earned from my cryptocurrency just making it's own money, so if it's gone it's not something I took out of my bank account to pay bills... we will see what happens. At least I trust this more than bitconnect lol.

they've been around for 3 years now and people still use them.... so whatever they're doing is working. lol

I might do something like this, but on youtube instead. Show from day one (I just started mine couple days ago) and keep track of things

I know many people do it on youtube, but they're making crazy profits, and trying to get their referral link working. To be totally transparent, I would leave my referral out of it.

I only have BTC0.00071941 right now, but I can tell you that when I click the withdraw button, nothing happens. lol

also their website was going down for maintenance, looks like it's back up now.

also for what it's worth, next difficulty is estimated to come down %16 according to bitcoinwisdom

I'm still wondering why so many people still believe with cloud mining sites. Didn't they learn from the past? Yes, there's a point you could earn from it, if you are an early registrant with too many referrals and a low amount of investment to risk. How about those who are late? Did they earn as well?  The point is, we all dreamed of a passive investment that is long term, stable and legit. These schemes will not be elminated if people will still be enticed of what these sites offer. There are people who would want to risk, I know that. But, if the entire internet community will totally avoid it, then we'll be having a safe digital world.

LOL

Definitely sounds like something a ponzi scam would say. I'm totally convinced hashflare is a ponzi scheme now.

Consider these things:
- They have seeming unlimited scalability (which is not possible in the real world).
- No pictures of there datacenter mining Bitcoins. Only pictures I see are with GPU mining and still a small operation at best in those pics. Every "real" Bitcoin miner knows you can't mine with GPU's.
- Company is in small remote country of Estonia. What recourse do you have if things go wrong? Why no office in one of the major countries?
- Google street maps show the company sharing an office in a building in Estonia. Again, where is the datacenter?

If I'm wrong, here is an idea to prove they are legit:
- They show their Bitcoin mining divided among 3 pools by default. Can we verify their presence with those pools?