Hashflare mining is not giving payouts anymore? - page 9.

xIIImaL

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Quote from: magneto on June 14, 2018, 04:17:19 PM

Unfortunately, this is the result of the maintenance fees being more than that you are making from them. That's what makes cloud mining such an unprofitable venture, which is exactly the opposite of what some people try to pitch to you on platforms such as Youtube.

Bitcoin prices have defintiely gone down, which is potentially why this is happening. However, it could just be another one of the tricks that they play (just like they did with lifetime contracts) in order to avoid paying as much.

BTW, can anyone confirm that are all users of Hashflare being affected by this? Or just the people who bought their contracts at times when they were extremely pricey? Either way though, it's best to steer clear of cloud mining altogether, especially HF.

Why actually maintainence fees becoming the trouble for the past few months mate. I want to invest 500 USD in cloud mining contract with in some months that should be goes with the fees alone who will going to invest on the cloud mining mate.
That is reason many of the people really not suggesting the cloud mining as a investment for making profit. Even the contracts rate also high when compare these days.

BitHodler

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Quote from: Hamphser on June 14, 2018, 10:13:18 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.

magneto

hero member

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Unfortunately, this is the result of the maintenance fees being more than that you are making from them. That's what makes cloud mining such an unprofitable venture, which is exactly the opposite of what some people try to pitch to you on platforms such as Youtube.

Bitcoin prices have defintiely gone down, which is potentially why this is happening. However, it could just be another one of the tricks that they play (just like they did with lifetime contracts) in order to avoid paying as much.

BTW, can anyone confirm that are all users of Hashflare being affected by this? Or just the people who bought their contracts at times when they were extremely pricey? Either way though, it's best to steer clear of cloud mining altogether, especially HF.

mobilestrike

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Quote from: njmulhsn on June 12, 2018, 01:43:40 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."

Try to wait for the price of bitcoin to increase in value, currently the value of bitcoin is much lower and not only there but all of the miners are getting less income from their mining. If the price of bitcoin will increase then you will get some profit from there.

Many of the mining companies stop getting income from the mining at the time when the price of bitcoin decreases. Remember the time of 2013 when the price of bitcoin started to decline many of the cloud mining websites stop their work and shut down. After 2016 when the price increase some of them started their business again.

Hamphser

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Quote from: shield132 on June 12, 2018, 04:15:53 PM

Quote from: njmulhsn on June 12, 2018, 01:43:40 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 read the same on their officiap facebook. You can do nothing, just wait what they'll decide to do and fix situation. Usually that's strategy of genesis mining to close your contract because of mining difficulty reason. To my mind they aren't scammers but if they won't be able to continue profitable mining for investors, then they have to return some invested money and give 100% back of investment - currently profited to new customers and them, who hasn't ROI-ed yet.

Didnt see a reason for them to make some refunds for those who invested. Its possible for new investors but not on the ones who didnt able to reach ROI midway.We cant really able to say they are scammers since they do had really the valid reason why they dont able to give you payout due to difficulty rise and of maintenance fee which is the cause that you dont even have the chance to gain if you had invested. Hundreds of times being said before that cloud mining arent really worth to invest at all.

lizardbtc

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There is always the risk involved with mining and yet cloud mining is no exception. I have never tried hashfire nor any other provider out there in the past but what seems to me is that it is hard for them to keep clients to be satisfied on one end and on another to make profit. Well if dificulty goes more and price don't increase much they might close at the end of the day if they don't succeed to pull this though.

jvdp

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Quote from: njmulhsn on June 12, 2018, 01:43:40 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."

If that exact situation you need to move from the hashflare to some other profitable cloud mining to swap the present condition for mining purposes bro. I see many people already confirmed that it has been shared on the facebook page I guess bro.
To say the exact issue of yours you should skip from the cloud mining completely and switch to direct mining mate.

timerland

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Quote from: njmulhsn on June 12, 2018, 01:43:40 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."

Yep, this is true according to their official facebook page: https://www.facebook.com/hashflareb/

A dire situation to be in for sure as an investor. This is why I don't believe in cloud mining whatsoever. You don't know whether they are being honest, or using this as an excuse to not pay out anyone. All the statistics are on their side, and they can manufacture payout stats and all that once you invest.

Plus, you have no flexibility whatsoever as an investor. If you just invested in bitcoin itself, you can still hold until the bear market is over. But with this contract that they have, you're guarantede to lose money. Idk what you can do in this situation, honestly. Because they've got all the control over your funds.

Not to mention that Hashflare has been shady af with cutting down contracts from lifetime to 1 year, and this is just adding to their untrustworthiness. Don't invest with them at least, but I'd say cloud mining in general is a no-go.

shield132

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Quote from: njmulhsn on June 12, 2018, 01:43:40 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 read the same on their officiap facebook. You can do nothing, just wait what they'll decide to do and fix situation. Usually that's strategy of genesis mining to close your contract because of mining difficulty reason. To my mind they aren't scammers but if they won't be able to continue profitable mining for investors, then they have to return some invested money and give 100% back of investment - currently profited to new customers and them, who hasn't ROI-ed yet.

njmulhsn

newbie

Activity: 29

Merit: 0

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."

Topic: Hashflare mining is not giving payouts anymore? - page 9. (Read 14630 times)