Topic: HashFlare worth to reinvest ??!! (Read 222 times)

did they explain why they increase the withdrawal to 500 dollar ??
i have no idea why and what would be behind of it.

Yes, indeed. if they were not operating at a loss then they would not so blatantly rip their customers off. Clearly, they are probably overpromising or overdelivering on their promises. Even though users can set the mining pool configuration and coin configuration i don't think that they're actually actively switching pools as a result of the individual changes their customers made.

They could have been using some of the investments to fund actual miners, to make themselves look legit. But then I think that they probably made some sort of high risk investment in which they lost a large sum of money. For instance, speculating on certain altcoins which made them lose money.

While we can't confirm these suspicions, the smart move here is to move your money out. They may be insolvent, which is why they're trying to up the minimums and reduce contracts to 1 year. And you never want to risk your funds at a potentially insolvent company.

I will not invest in HashFlare anymore , because for me site like that works like ponzi scheme.. Someone need to invest that other members gets paid. So if people stop investing in HashFlare , they will stop paying and the last members who invested will probably be scammed.

Realistically speaking unless you are expecting the respective altcoins and bitcoins being mined on your contract going up in value, you're not going to reinvest and expect a profit at the end. Hashflare is most likely running a long term ponzi scheme as well.

You're basically taking on two very not worthy risks here - both the risk of Hashflare going under and the risk of your contract cryptos not going up in value. Better to just invest in cryptos instead of reinvesting your funds.

BTW, move this to service discussions, please. Service announcements is for businesses that have just launched or just went on bitcointalk to post their announcement threads.

I think the methods of HashFlare is simply because they are a ponzi. While I do believe that they have miners available and are actually mining, I believe they were operating at a loss due to the "lifetime" contracts they offered upon launching their services. With the given changes, I'm fairly certain that they are now profitable. With all of the dead accounts with balances, to the raising of fees, they seemed to have found a model that works. They blame difficulty rising and the inflated prices of Bitcoin, but I believe that it's no longer worth any time to buy any hashrates with HF anymore. Like I stated before, as soon as my contract ends, I will be withdrawing all of my crypto from this site and won't be looking back!

This is the hard thing among with these kind of cloud mining investments even how reputable and how long they are operational and i agree on the things you do have said.They do have the full control or manipulation as they like and as an investor you wont really have any choice but to follow on whats being said if you dont like to experience such problems with them.For those early investor back in the past with HF i do believe they are already on profits and since difficulty rise up they make such changes and for those who came in too late will really feel the difference when it comes to profit talks.

Thanks for the reply. I am clearly not making up BS here. There is a reason why I always warn people against cloud mining in general and hashflare cloud mining in particular. You never know what their next move is.

It's not even a fair game, they have every right to change your contract, you have no rights to argue with them. If they decide that they want to reduce payouts for a period of time as they accumulate money to actually pay off previous investors due to liquidity issues arising from not actually mining, you have nothing you can do to prove that they are doing this on purpose, nor can you argue with the change.

The minimum withdrawal amount has been raised to 0.2+ BTC before IIRC, and currently is 0.05 BTC instead of the 0.005 BTC you gave: https://hashflare.zendesk.com/hc/en-us/articles/207973869-How-to-make-a-withdrawal-, unless this article is outdated. Bottom line is that you should do your own research, see what happened with their multiple raises in min withdrawal before you actually reinvest any sums, because you'd be in that contract for at least a few hundred days with no way out.

I was going to say the same thing until I read your post.

I've been reinvesting my earnings at HashFlare for a couple of years now, and once I received the email that our lifetime contracts were now limited to 1-year contracts, I stopped reinvesting and decided to let my newly-created 1-year contracts play out. Once the last of the contracts expires, I'll be withdrawing my earnings and getting the fuck out of HF. Not only did they make contract changes, they raised the minimum limit of withdrawal multiple times. They did provide email updates regarding all the changes, and are pretty professionally operated, but I just do not feel comfortable with the company any longer.

I've received emails from several of my referrals to HF claiming that their contracts will expire before they hit the minimum withdrawal limit... If I'm receiving this many emails, I'm wondering how many users in total are affected by this, and how much crypto that HF is pocketing from this. I would think that the fairest thing to do is to let users withdraw their final balance once their latest active contracts expire. While 0.005BTC may not seem like a lot to many, it's still $55USD (at the time of this post).

It's the little changes like this that put me over the edge; I was already skeptical about this company when I purchased my contracts... Now, even more so.

Didn't you see what hashflare did to their users? Literally robbed them of their cloud mining contract, lifetime to 1 year, and minimum withdrawal is so high that you're probably not going to get your ROI withdrawn even if you do make it back.

Unless you are 100% sure that you will be able to turn a profit, I would suggest not to reinvest. Get your money, and stop using hashflare. The problem is that their management seems to be perfectly okay with manipulating their user contracts into essentially making less money than promised.

If you want to speculate on coins, then just do that. We are not sure whether hashflare is actually mining or not, even if we are there is no way of determining that they have 100% backing of the contracts.

Maybe do not rely on reinvesting into the site because many are saying they are ready to run.
Get enough to withdraw and do that before putting anything more into it.
They did end all their customers lifetime contracts and limited them to one year only for everyone in the middle of their leases of hash.
Which is not right towards anyone who did have any investments in a company to be doing.

So make up your own conclusions about that one.

Hi Adolf ! Thanks for the advise ! Yes I had a mistake, back days when I purchased a contract rather to buy BTC.
Yes I know , but I was stupid, but was so popular thats why I did a contract.
Probably I’m not gonna reinvest just take the money out when the time will come.
So many risk , yes you absolutely right .
(I’ve lost 35 BCC with Bitconnect)
even look back i dont see any point to buy rigs , just buy coins then trade.
 But Thanks again !

I would personally stay far away from these sites. Not only because there's a huge chance that they will end up scamming you ( because it is infact a ponzi), but also because they take a huge cut if they're actually legit.

What's against it to buy your own hardware and mine yourself, instead of being dependant on a (potentially) fraudulent site, which will give you a contract where they slice off your earnings by X percent every month, ( i know difficulty etc, but still..)

Most of the people investing in these cloud mining sites have only made a profit because bitcoin went x10 last year, not because the cloud mining site is doing god's work.. Not to mention that their support is either non-existent, or REALLY slow. There's dozens of scam reports against them. See https://bitcointalksearch.org/topic/hashflareio-is-a-confirmed-scam-now-beware-2683539 for example.

Hi guys ! I have several rigs also I have HashFlare contact with only 5 TH/s with SHA256
I wanna know your oppinion  about to to see In the future it might worth to reinvest to my contract witch will be end of December this year. Im try to to say to compare and see all consequences in the future(I have 9 month left).  (Not bct are bubble ,nothing like this) but if btc gonna be stay constantly between 10K -11K for several month or a year it will be worth to me DO NOT reinvest just take my bcc out.
Somebody has a REALISTIC again REALISTIC hope or prediction what to do ??