RE: Hashflare Cloud Mining Overview! (How to earn CRYPTOCURRENCY!)
Hello @durianwalker,
I watched your video and unfortunately I disagree in regards to your positive appraisal of Hashflare.
It is my assessment Hashflare is a suspicious company for a multitude of reasons:
- There are well documented cases of unfair payouts made my Hashflare in regards to their "Mining Contracts"
Reddit
Bitcointalk
https://www.anythingcrypto.com/guides/risks-of-mining-bitcoin-on-hashflare
http://dailycryptocurrency.com/cloud-mining-hashflare/ - Their Fee structure and "Maintenance costs" are changing variables 100% in their control and affect your ROI and profitability.
- Purchasing a Contract from Hashflare makes you a Hashflare customer NOT a Hashflare Investor, the Hashflare Investors are the individuals who collected the capital and invested it to START the Hashflare website. The website now sells products to its CUSTOMERS. I am HIGHLY suspicious of a website or company which is flippant in regards to who are its investors or customers as Ponzi schemes & suspicious platforms often rely on this confusion.
Problems in Trust
Ultimately, ANYONE's profitability with Hashflare relies upon TRUSTing the Hashflare website & their operations, however here is the issue with this:
- If Hashflare profit from Mining operation = 100%
- You as a CUSTOMER of Hashflare can only profit Less Than 100% of Hashflare's Mining Operations.
- Because Hashflare is not gaining any advantages of scale by crowdsourcing mining contracts... According to economic theory, the total Hashrate of the underlying script will INEVITABLY make the mining contract = the "maintenance cost".
And that's assuming they are acting in good faith, which is still in question.
@durianwalker, I would be happy to elaborate on any of the points I made above to further explain my position. I just wanted to make sure that when you recommend a product (referral link), you really believe in it. If you were only interested in gaining the referral, thats okay too just make sure you're upfront about that.
Crypto is a very dangerous space BECAUSE THERE IS SO MUCH OPPORTUNITY! It's a great time to be party of the cryptocommunity, if you work hard at Steemit and learning about Blockchain technology there are no limit! I just wanted to make sure you knew that there are going to be a lot of people making false claims along the way (Bitconnect, BitGrail, Onecoin, pretty much every lending platform, and here I am making the claim: profitable cloud mining operations are in almost every case, economically not feasible.
Therefore, the mining contracts are destined to be unprofitable.
Thanks for the time it took for you to read my comment, I wanted to be thorough!
sorry but i wasn't promoting anything i have sent no referral link i just think Hashflare is a great concept in the further conception of the cryptocurrency industry sorry for any offence you may have taken from my post it was just a broad overview of how cloud mining works thanks and have fun in this great Steemit system.
@durianwalker I'm sorry I was not clear!
I have nothing but bullish sentiment for the crypto community and I am in no way am taking offense to your post or even implying you are doing anything wrong,
I think you are very ahead of the curve and have a very bright future, I just wanted to make sure that when you are putting your good name on something people will associate you with it.
Everyone is responsible for their own actions & investments but I just wanted you to see how people can come to different conclusions, and that you are entitled to yours!
I just want to make sure that "is" your opinion. I will be happy to continue to follow your content & upvote content. However I just can't on this video, as I disagree with the content significantly.
Do know that in this politically charged climate, people always have the right to disagree and it does not have to reflect on the person's character! Thank you for your time.