HashFlare Contracts - page 2. | Bitcointalksearch.org

VitKoyn

full member

Activity: 490

Merit: 106

Quote from: rusty_nail on June 30, 2018, 07:42:08 PM

With the very low price of Bitcoin at the moment and having a SHA-256 contract with HASHFLARE there has been no returns above the current fees being deducted.

Does that mean that after the 21 days of non-profitability that the contract I have will be terminated.

Will HF return anything to me or will I have forfeited my $$$ under their T&C's...

With not being able to do anything like add some more Hashpower to the existing contract even... I am sure that my contract will be terminated and in turn I will lose all $$$ invested...

Can someone advise? Thanks in advance.... Huh

Investing on a cloud mining are really not profitable for investors even it is a legit mining company. In your case, there's nothing you can do about it anymore, by investing with hashflare you are accepting their terms and conditions, and it is stated that if the mining process will be not profitable payouts will be stopped, and it is said that contracts will only be valid until it is profitable. Unfortunately what you can do is just move on, and don't ever fall again with this kind of investment programs. If you want to make profit in cryptocurrency, just invest or trade the coin, not invest on the company that are mining it or using it to attract investors.

SONG GEET

hero member

Activity: 700

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

If they can successfully terminate all the mining contracts than they will have those mining devices under their name and after that when mining will start to be a profitable one they will earn millions from those devices and they don't have to share those earning with any user which is legal according to their T&C.

Same viabtc might do to their lifetime contracts.

socks435

legendary

Activity: 2058

Merit: 1030

I'm looking for free spin.

Just don't invest again on cloud mining site that's the best you can do right now than investing your money again to increase your hashrate.
Since you don't have a physical miner and you only have the contract there's a huge possibility that hashflare will turn to scam just like what happened on the other cloud mining sites before.
Be careful on investing online there are many scammers out there and most of the cloud mining are scam if you really want to mine bitcoin why not buy your own mining equipment.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: milewilda on July 01, 2018, 12:05:43 PM

Mining difficulty rise is somehow convincing on our part but the maintenance cost and total hash would really be remained unanswered.Why? Once we would know we can able to calculate and sue them out when we do find profitability on their side.

It's their insurance, to call it that. If the income from contract sales isn't sufficient anymore to cover people's payments, they can just make things up and claim that their internal costs have gone up significantly. People have to accept it even if they don't believe any of it.

If people think the current situation is bad, then wait and see how many of these cloud mining sites will rip you off once the block halving kicks in. Block halvings are like a gift from heaven for cloud mining sites. It provably allows them to pay you 50% less. I'm sure that a lot of the current cloud mining sites will even try to shut down their operations (if they even have hardware running) and legally walk out with your money. The house always wins.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Rahar02 on July 01, 2018, 04:57:20 AM

Sadly, there's nothing you can do about it, even if there's an option to add more hashpower, I encourage to don't do that.
It seems like hashflare keeps making excuses to cut customers money as much as possible through their T&C such as 21 days suspension period. It's strange though, as they said: with the latest spike of mining difficulty exceeding 14%, while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same
but we don't know how much total hashrate and maintenance fee they have to cover, or have they disclose the information about it?
For the record, this is the mining fees for customers:
The maintenance and electricity fees (MEF) is linear and equals 0.0035 USD per every 10 GH/s of SHA-256 and 0.005 USD per every 1 MH/s of Scrypt per day.

we don't know how much total hashrate and maintenance fee they have to cover, or have they disclose the information about it?

This is the thing we wont able to know yet they wont really disclose on actual numbers and thats the shady part of these cloud mining sites. They would really do excuses or alibis just to have a reason. Mining difficulty rise is somehow convincing on our part but the maintenance cost and total hash would really be remained unanswered.Why? Once we would know we can able to calculate and sue them out when we do find profitability on their side.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: rusty_nail on July 01, 2018, 05:12:07 AM

Unfortunately Rahar02 it would seem that many open current contracts will in fact cease and be terminated in 11 days for some as Bitcoin continues to totally DUMP...

Whoever thinks it will re-cover to the December 2017 all time high is totally kidding themselves...

Crypto & Cloud Mining is a complete dud...even ALTCOINS have taken a massive dive of nearly 50% from when they were purchased. It would seem the best thing to do is recover whatever dividends that you can and run for the hills.

You would be better of having a share portfolio than investing in crypto that seems to be going very fast south.

I for one will now have to wait for HF to terminate my contract and not receive one single thing back.... Embarrassed

BTC

Very unfortunate my dude. Just make this a lesson for you. If you want to profit from mining, then do the mining yourself with your own hardware (after doing extensive research of course). You could barely make money with cloud mining; you're probably lucky if you end up breaking even.

Hopefully you didn't invest a lot of money in it.

Rahar02

hero member

Activity: 910

Merit: 523

Yeah, Hashflare will terminate so many contracts since they have announced payout is less than maintenance fees.
Everyone who have invested to cloud mining should aware of the risk, especially after some shady act of Hashflare.
That's why I said, there is nothing you can do but let it go, because Hashflare T&C have explains that, unless you have access to visit their main office and manage to ask for refund. maybe it's time for Hashflare to shut down their business.
May I know how much $$ you have invested? Or how much hashrate you have?

rusty_nail

newbie

Activity: 11

Merit: 0

Unfortunately Rahar02 it would seem that many open current contracts will in fact cease and be terminated in 11 days for some as Bitcoin continues to totally DUMP...

Whoever thinks it will re-cover to the December 2017 all time high is totally kidding themselves...

Crypto & Cloud Mining is a complete dud...even ALTCOINS have taken a massive dive of nearly 50% from when they were purchased. It would seem the best thing to do is recover whatever dividends that you can and run for the hills.

You would be better of having a share portfolio than investing in crypto that seems to be going very fast south.

I for one will now have to wait for HF to terminate my contract and not receive one single thing back.... Embarrassed

BTC

Rahar02

hero member

Activity: 910

Merit: 523

Sadly, there's nothing you can do about it, even if there's an option to add more hashpower, I encourage to don't do that.
It seems like hashflare keeps making excuses to cut customers money as much as possible through their T&C such as 21 days suspension period. It's strange though, as they said: with the latest spike of mining difficulty exceeding 14%, while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same
but we don't know how much total hashrate and maintenance fee they have to cover, or have they disclose the information about it?
For the record, this is the mining fees for customers:
The maintenance and electricity fees (MEF) is linear and equals 0.0035 USD per every 10 GH/s of SHA-256 and 0.005 USD per every 1 MH/s of Scrypt per day.

rusty_nail

newbie

Activity: 11

Merit: 0

With the very low price of Bitcoin at the moment and having a SHA-256 contract with HASHFLARE there has been no returns above the current fees being deducted.

Does that mean that after the 21 days of non-profitability that the contract I have will be terminated.

Will HF return anything to me or will I have forfeited my $$$ under their T&C's...

With not being able to do anything like add some more Hashpower to the existing contract even... I am sure that my contract will be terminated and in turn I will lose all $$$ invested...

Can someone advise? Thanks in advance.... Huh

Topic: HashFlare Contracts - page 2. (Read 340 times)