⚠️ Hashflare Stops All Bitcoin Mining ☠️
The company just announced they have shut down all SHA 256 Hashing which is bitcoin hashing due to negative profits from mining. The company says they have taken steps to try and reduce fees to allow continued operation however because of low prices of bitcoin and skyrocketing difficulty they had to shut down all mining equipment.
Now one would think this would have a big effect on bitcoins hashing rate right?
However this chart shows otherwise with a possible 15% spike if not more in mining difficulty coming up in about 6 days. This kind of spells to me that these Hashflare contracts will never be run again (which to me feels like the company just stole about 6k from me wince I opened a contract a day before it became unprofitable :( sigh and refuse to refund me or even partial refund the bitcoin talk about one shitty ass shady company for doing that )
With all that being said do you have any contracts yourself and do you feel they will ever be active again?
I found it extremely odd that the email was sent a full day after they shut down. Others i know didnt even receive emails.... while they appear to have legal protections around their actions, it remains to be seen whether the team will be punished by the broader community by black listing any future projects they start.
i has a contract back when it was lifetime and i withdrew the last of the funds 6 days ago. I dodged a bullet there 😀
Lucky.. :)
Just withdrew my Eth from there now lol
Right before they shut it down. Now to buy more steem :)
I think that most if not all cloudmining sites are a scam. I feel bad for the people who invested a lot into hashflare.
Many people lost a lot of money..hard lesson.
Ah, man... sorry that happened. What a rip!! I had always been somewhat skeptical of these "cloud mining" business myself--I guess your experience just confirms my suspicions... What are their reasons for not refunding? I would think, if you pay for a service, ye those services are unavailable (especially when suddenly just the very next day), you are entitled to your money back. I hope it works out for you !
Well,did you read terms of use?Is there no refund policy?
Yeah it sucks you would think they would look into my case and offer at least a partial refund for the time not used instead they are just keeping it all which kind of ticks me off. Even if they do come back online I wont be putting anymore money into it because of how they treated me this time around.
Absolutely... Yeah... When I first started getting into crypto, right around the first "big wave" back in christmas of 2017, I wanted to get into mining, and "mined" for a while with Minergate--monero mainly... Similar issues, though; like not able to easily transfer out any funds; exorbitant fees; just BS basically lol. A lot of these companies, I think, sadly were just capitalizing on a lot of newcomers into the space and basically started gobbling up as much hashing power as they coould find--any ol way they could--(likely, in order to turn around and mine Bitcoin... ) But, a lot of this has been a great learning experience for me... But back to you: yeah, I guess I don't understand--I mean, if you had a "contract" with HF to perform some function based on your payment to them and then that action is not performed, it only seems common sense that your monies would be returned. That's like saying, I give you 5000 to purchase a used car, but when I come back the next day to pick up my new automobile, I'm told it has either been sold or is missing. Either way, I cannot get the car.
Well... Can the dealer just keep the money? That's absurd!! Obviously I odn't knwo the particulars of your situation, but, I have confidence that if it is like I've said, they should return your funds...
Yes, I had a contract with another company and lost my money. I had bought in last December at Bitcoin's high. When Bitcoin crashed, the company switched to a new version and had a convoluted formula for converting the old contracts to the new version. Then they excluded anyone from the US and I believe Canada from being able to participate. I was never able to recover my money. Fortunately, for me though, my loss wasn't as large as yours. So sorry for your loss.
Wow. Amazing (and scary!) how easy this can happen in this space.. All the more reason to do one's "due diligence," and be extra cautious! But like the OP's story, I'm simultaneously astounded, yet in a way not too surprised, at how these companies can get away with stuff like this... I guess it's nothing all that new: people being "ripped off" lol (i.e., purchasing faulty or somehow otherwise unsatisfactory product). I suppose I've been relatively "lucky" so far (knock on digital wood): the biggest "scam" I've fallen for was one of these "ICO" deals--this one was/ is called Eristica: some kind of tokenized "gaming" challenge platform which was originally built in ETH, but then is supposedly migrating to Bitshares (Graphene).. Anyway, point is they were initally supposed to have been "listed" on a reputable exchange for months now, nothing doing; they just seem.. idk, quite unprofessional... Again, I didn't do very thorough research on the team or anything like that (one reason, come to find out, that's because there is not really any info on "the team," whatever that "team" may be any how :/) But I don't think I'll lose any sleep over the 9 USD I invested ;) .
Wow! This is unfortunate as it creates more doubt in the ecosystem. It supports one of the main reasons I have not tried mining as I cannot understand how to control and review what is going on from a technical aspect. However, I have it on my to do list as I really so want to set something up.
You could invest 6K in almost any coin,and wait for pump.You can earn much more by trading,then with cloud mining.You could even buy doge coin for that,and wait for it to go back to 100 sat...hard lesson.
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