Hashflare mining is not giving payouts anymore? - page 8.

1Referee

legendary

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Quote from: shesheboy on June 19, 2018, 12:07:05 PM

hashflare is different among them because as what i know , hashflare is a popular and legit cloud mining site. i think that the op has a misunderstanding about their service or he had made a mistake on his side.

HashFlare isn't different at all. Technically speaking, all cloud mining sites are quite similar because they made the game that you play, and they decide when it's game over for you. They beforehand know that the majority of the users will end up losing, and if it doesn't happen naturally, they will make you lose faster to cut you off. Party continues as long as there is new money coming in, but as soon as that isn't the case anymore, say bye bye to your "earnings".

If people think cloud mining sites will pay users from their actual mining earnings they are delusional.

shesheboy

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Quote from: leowonderful on June 19, 2018, 08:35:13 AM

Quote from: solarion on June 19, 2018, 08:26:08 AM

When difficulty is high in number then why the people looking to invest on the cloud mining projects still. I see someone explained about the difficulty increased on recent time. That is actually true not only bitcoin even all top minable altcoins are seeing the mining efficiency reduced to mining difficulty increased bro.
I really looking to invest on the mining but GPU not a cloud mining since it is a ponzi scheme to do. These I also scripted many places that genesis and hashflare are good in cloud mining but here after I will not.

People are just generally ignorant (there are hundreds of posts daily about cloudmining being a horrible investment here) and still fall for
the gamble that is cloudmining, or they're new to crypto and aren't aware of the enormous risks associated with cloudmining. It's a shame cloudmining sites advertise themselves so damn much everywhere and draw in so many people- those ads do their job extremely well, and we'll likely continue to see people investing in cloudmining for quite some time as a result.

Mining's a huge gamble right now as a whole, and I really wouldn't suggest it to anyone even considering it at all unless your electrical rates happen to be extremely low- difficulty's still going up on all chains despite coin prices continuing to slip downwards.

yes we all know and most people know that cloud mining site are more prone to scam but hashflare is different among them because as what i know , hashflare is a popular and legit cloud mining site. i think that the op has a misunderstanding about their service or he had made a mistake on his side.

@op youd better read their rules more carefully and understand your mistakes before you try to complain about your problem on their suport.

leowonderful

legendary

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Bitcoin FTW!

Quote from: solarion on June 19, 2018, 08:26:08 AM

When difficulty is high in number then why the people looking to invest on the cloud mining projects still. I see someone explained about the difficulty increased on recent time. That is actually true not only bitcoin even all top minable altcoins are seeing the mining efficiency reduced to mining difficulty increased bro.
I really looking to invest on the mining but GPU not a cloud mining since it is a ponzi scheme to do. These I also scripted many places that genesis and hashflare are good in cloud mining but here after I will not.

People are just generally ignorant (there are hundreds of posts daily about cloudmining being a horrible investment here) and still fall for
the gamble that is cloudmining, or they're new to crypto and aren't aware of the enormous risks associated with cloudmining. It's a shame cloudmining sites advertise themselves so damn much everywhere and draw in so many people- those ads do their job extremely well, and we'll likely continue to see people investing in cloudmining for quite some time as a result.

Mining's a huge gamble right now as a whole, and I really wouldn't suggest it to anyone even considering it at all unless your electrical rates happen to be extremely low- difficulty's still going up on all chains despite coin prices continuing to slip downwards.

solarion

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Quote from: Lazada on June 18, 2018, 11:08:43 AM

Quote from: squatz1 on June 16, 2018, 12:38:13 AM

This is the problem with cloud mining, once it isn't profitable for the COMPANY that you paid to have the contract. They're going to stop paying you, it's in the terms that you signed when you bought the contract itself. It sucks, but this is the problem with not owning your own equipment.

Valuable lesson here, cloud mining is either a scam or isn't profitable.

Actually everyone already knows that cloud mining is a disadvantage. But I find it strange because they are still interested in cloud mining. This is why I am currently saying that people who invest in cloud mining are people who are prestigious and can not think well. They are desperate and ultimately choose a wrong thing.

When difficulty is high in number then why the people looking to invest on the cloud mining projects still. I see someone explained about the difficulty increased on recent time. That is actually true not only bitcoin even all top minable altcoins are seeing the mining efficiency reduced to mining difficulty increased bro.
I really looking to invest on the mining but GPU not a cloud mining since it is a ponzi scheme to do. These I also scripted many places that genesis and hashflare are good in cloud mining but here after I will not.

Rahar02

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Those two reasons are enough to stand back from cloud mining or even mining by yourself.
Bitcoin difficulty keeps increasing due to many big companies join into this industry such as GMO in Japan has been developed and sell 7nm bitcoin mining chips which give 24 TH/s.
GMO miner B2 will be sold through the company’s subsidiary in Zug, Switzerland, according to Nikkei. They will be on sale starting Wednesday and orders will start shipping from the end of October, as news.Bitcoin.com previously reported.

The price for each unit is “announced monthly,” the publication added, revealing that the “sales price in June is $1,999.” Itmedia described:

The price for the June release is $1,999 (including power supply unit, excluding tax). The sales price is adjusted monthly according to demand etc. The number of shipments was kept private.₁
Imagine how much the difficulty will be over time, it would be a disaster for miners if bitcoin price doesn't catch up above $10K-$15K.

[1] https://news.bitcoin.com/japans-gmo-specs-price-7nm-bitcoin-mining-rigs/

Lazada

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Quote from: squatz1 on June 16, 2018, 12:38:13 AM

This is the problem with cloud mining, once it isn't profitable for the COMPANY that you paid to have the contract. They're going to stop paying you, it's in the terms that you signed when you bought the contract itself. It sucks, but this is the problem with not owning your own equipment.

Valuable lesson here, cloud mining is either a scam or isn't profitable.

Actually everyone already knows that cloud mining is a disadvantage. But I find it strange because they are still interested in cloud mining. This is why I am currently saying that people who invest in cloud mining are people who are prestigious and can not think well. They are desperate and ultimately choose a wrong thing.

Red Fish

sr. member

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So you can try to find better BTC mining company. As you can see all mining now is negative, so you can loose only, not make profit. But there are also a lot of scam mining companies, so you must take care to find real one. Wink

miningguru

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Quote from: tonyosa on June 17, 2018, 07:21:05 PM

Also they set their minimum payout to be 0.05 btc.I own 2.5TH with them and my payout on the dashboard is less than 0.05 btc.They are saying I cannot mine more and I cannot withdraw what I already mined.Even when bitcoin transaction fee is at its lowest in recent times. Hashflare is fraudulent.

This things happening because they are getting any investments and this makes them to pay lesser amount to people. It is just like daily percentage as long as they get investments they will pay. Once the investments gets stopped they will not pay to investors on daily basis and saying maintenance and this and that. I hope soon it is going to scam us.

richardsNY

legendary

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Quote from: tonyosa on June 17, 2018, 07:14:44 PM

They are using SHA-256 mining hardware which is not very effective in terms of power consumption.They pay so much on electricity unlike Other mining services (Genesis,Viabtc,hashing 24) using ASICS. It is sad indeed Sad

.I hope the price of bitcoin rises soon to compensate for the hashrate spike.

How do you know that? Don't assume that because of certain variables work against them that miners are unprofitable. Miners can claim at any time of the day that their operational costs have increased, or that they are no longer able to continue as they were doing. It's impossible for anyone here to verify. It may very well be, which actually is the most likely scenario, that they just aren't interested in paying people. Cloud mining services have always an unverifiable advantage over the rest of the market. They know that and they know exactly when to abuse it, and people continue to use them....

tonyosa

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Also they set their minimum payout to be 0.05 btc.I own 2.5TH with them and my payout on the dashboard is less than 0.05 btc.They are saying I cannot mine more and I cannot withdraw what I already mined.Even when bitcoin transaction fee is at its lowest in recent times. Hashflare is fraudulent.

tonyosa

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They are using SHA-256 mining hardware which is not very effective in terms of power consumption.They pay so much on electricity unlike Other mining services (Genesis,Viabtc,hashing 24) using ASICS. It is sad indeed Sad

.I hope the price of bitcoin rises soon to compensate for the hashrate spike.

BitMaxz

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BTC price road to $80k

Quote from: nf2018 on June 17, 2018, 01:35:22 PM

Hell everbody

I want to report abuse in work and cheating from company HashFlare ( website: Hashflare.io ) too.
The way they cheated me, and i am believe that i am not only one, it is for police investigation.

I invested $ 3,000 into Bitcoin Cloud Mining on a one year.
But after 6 months, I get messages that their costs are higher than earnings and
that we can not earn more from mining. If it is correct, let the company declare bankruptcy.
Likewise, if company can not mince Bitcoin, let to switch to another crypt that is cost-effective.

If I bought a btc directly, I would have 0.3, but I did not even reach half with mining. And yet, they have been prevented from further mining, it is criminal.

In this moment I am lost $ 1700 in this company as well as many others.
They steal every day on existing clients and newcomers
who do not know they are scammers and what awaits them.

We was accept the risks of changing the value of crypts,
but that their negative business breaks on our back, is unacceptable and criminal.

We need to report this case police.

This is why I stop investing in cloud mining because instead of making a profit for your investment you end up losing your investment I hope that new comers can think deeply before they invest in cloud mining if you have that large amount of money why you still invest in cloud mining? You can build your own mining rig or you can buy an ASIC miner with this amount of money. The only solution that I know for now is to request a refund of your investment if they don't give all of your investment this is another scam just like what happened to scrypt.cc and other cloud mining site. I hope you learn right now and be smart when dealing online instead buy your own hardware to mine bitcoin or altcoin to make you profit without needs of any cloud mining.

audaciousbeing

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Quote from: njmulhsn on June 12, 2018, 02:43:40 PM

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), 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. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."

I don't see this as a tenable excuse for why they are refusing to do payout even after investing since 2017 which is going to 2 years counting but unfortunately the reasons they are giving is verifiable and there is nothing that can be done otherwise than to wait. But at the same time, it does not remove the fact that they should be held liable. Companies in the business world does not always have a good year sometimes they make less profit other times they make huge profit but rather not turning out dividend to their investors, they would reduce the profit and sometimes would still maintain their previous profit by ploughing back into the profits they have accumulated during the period of boom. What would have been ideal is to restrict the amount to be withdrawn depending on the classes of amount invested, find a way to cut down costs or plough back to the good times profit made when bitcoin price went all time high.

nf2018

newbie

Activity: 1

Merit: 0

Hell everbody

I want to report abuse in work and cheating from company HashFlare ( website: Hashflare.io ) too.
The way they cheated me, and i am believe that i am not only one, it is for police investigation.

I invested $ 3,000 into Bitcoin Cloud Mining on a one year.
But after 6 months, I get messages that their costs are higher than earnings and
that we can not earn more from mining. If it is correct, let the company declare bankruptcy.
Likewise, if company can not mince Bitcoin, let to switch to another crypt that is cost-effective.

If I bought a btc directly, I would have 0.3, but I did not even reach half with mining. And yet, they have been prevented from further mining, it is criminal.

In this moment I am lost $ 1700 in this company as well as many others.
They steal every day on existing clients and newcomers
who do not know they are scammers and what awaits them.

We was accept the risks of changing the value of crypts,
but that their negative business breaks on our back, is unacceptable and criminal.

We need to report this case police.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: mkmdoc on June 15, 2018, 11:39:25 PM

Soon another cloud mining going to become scam.

Not really. If you read through the terms that most cloud mining providers (scam or not scam) handle, they can legally get away with it and for that reason don't have to run.

People should blame themselves for this and not HashFlare. If you before investing know that the day will come where your contracts or shares won't be paying out anymore, then you have no right to complain or moan about the situation afterwards. If you are man enough to buy into cloud mining, then be man enough to accept the risks and each outcome associated with these risks. It makes no sense to complain about something from which you know it will happen with continuous difficulty increases.

milewilda

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Quote from: BitHodler on June 14, 2018, 06:38:11 PM

Quote from: Hamphser on June 14, 2018, 11:13:18 AM

Hundreds of times being said before that cloud mining arent really worth to invest at all.

People are ignorant and too stupid to understand that it is nearly impossible to generate worthwhile passive income in this industry. Everything promising you high rewards is mostly a scam by default.

The only somewhat viable way is to get involved in certain lending platforms that in return for your coins you get a certain percentage interest, but the viable aspect makes it very low rewarding. Low risk equals low reward.

This isn't the stock market where you can park your capital in dividend stocks. The only dividend alternatives in this industry are POS coins, but these only tend to lose value, which makes your dividends worthless.

Passive income and with less work, No human would really refuse to that offer this is why fools would always exist if most of them already learned doesnt mean the cycle wouldnt continue. New people recruits other people would still continue the chain. They are being fed up thats why they do exist for scam cloud minings continously. We arent lacking for keeping advice and warnings but people are too hard headed they do only realize when they already lose up money.

jefpolastro

newbie

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It all depends.

In 2016 I invested 800$, got it 3 times back in 2017.
With the return I invested 2000$ wich is not paying out anymore.
I took screenshots from time to time and for example in january 2018 at the peak of Bitcoin
the revenue was somewhere around 35$ a day.

From my point of view they should continue mining or at least are doing in now without paying their clients out.
At a time Bitcoin will get interest again and I'm pretty sure it will rise above 20K.

That said, If we keep mining now and price goes up big again soon or later.
We can make much more profits but.. I really understand why they do this.

Let us say 1000 investors want their payments and BTC goes to 2k.
They can actually go broke and everyone is losing their money.

In the end I'm still running my GPU rigs on solar energy on ETH wich are mine due to the above fact.
I will pay the extra energy if needed from some savings I made before to overcome the dip.

Let's keep positive here. The power of blockchain is huge. For instance gaming platforms that are getting developed now.

leowonderful

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Bitcoin FTW!

Mining as a whole at this moment in time is extremely risky as difficulty's going continually higher on all chains and coin prices keep going on a downward swing- I'm not even going to take a look at mining gear in the near future unless things change with pricing. GPU profitability's continuing to slip and the time to break even on most GPUs are near or over a year at $0.10/kWh, FPGAs and ASICs are being developed left and right for every profitable algo imaginable, and it's just a shitshow in general for mining with the incredibly high risk that's present right now. I love mining, but I'm likely going to switch to temporarily just buying coins instead of investing into new gear.

$100 isn't a very significant amount of money to lose (and I'm not taking the coins you managed to withdraw into consideration) if you learn a lesson here and stop gambling by putting your money into cloudmining. In the future, consider buying and holding coins or find ways to get gear hosted if you're unable to mine at home. In cloudmining, only the seller of hash wins and not you- in a situation where the hash seller actually mines, having people purchase cloudmining contracts offsets the risk of mining onto you, the purchaser, instead of the hash seller.

squatz1

legendary

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Flying Hellfish is a Commie

This is the problem with cloud mining, once it isn't profitable for the COMPANY that you paid to have the contract. They're going to stop paying you, it's in the terms that you signed when you bought the contract itself. It sucks, but this is the problem with not owning your own equipment.

Valuable lesson here, cloud mining is either a scam or isn't profitable.

mkmdoc

sr. member

Activity: 658

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VIMee - Social Network

People are complaining about the hashflare payouts whether they are saying the problem is maintenance fee and this not the case to consider. The main reason is they are not getting more investments from the investors and this makes them fail to pay the payments. Soon another cloud mining going to become scam.

Topic: Hashflare mining is not giving payouts anymore? - page 8. (Read 14615 times)