Bitcoin Forum

Hi,

Just wanted you guys to share my thoughts while requesting your experiences and opinions with HashFlare.

For starters, I invested a rather small amount in February 2016.
Initially I tried to reinvest and withdraw some BTC, all successful, so it looked very reliable and hence I continued and invested some more.
However, month after month the gains went down much faster than predicted, and it soon became clear that keeping bitcoin in a wallet would be a better plan over risking it on Hashflare.
However, as bitcoin was on a very promising slope up this did not bother to me. Even loosing some is not a big deal.

What became a bigger deal is that Hashflare does not enable me to change a BTC wallet address!
I was able to remove the old address (which I used with armory) but entering a new address in my account settings failed time after time.
Support states that I should get a mail confirming my profile change, but my (personal) mail server logs make perfectly clear that none such mail was ever sent.
I DO receive their support mails (from the same domain) stating that a mail was sent, but they can not provide log file data about settings mails that are sent.

In short, on top of the payment problems they share on their site, several other barriers are put up as to NOT ALLOW you to retrieve your investments.
It has been said before that this mining company could be a Ponzi scheme.
My experiences might prove this right.

Please share your thoughts on this.
This topic might be wrongly placed in Service announcements, but mainly this is about the Hashflare service and the way support is handled by them.

Regards,
Carl

well yeah this has been discussed many times , all cloud mining sites have high odds of being ponzis
the thing with HashFlare is more shady , especially after they suddenly decided to change their lifetime contacts to only one year contracts
this screwed many people who bought their service cause that was a huge change to make in their ToS

Best thing to do is to avoid them all , really even if they were honest it doesn't worth the hustle

i have changed my wallet address on hashflare 3 times and it worked every time
all you have to do is confirm the change by clicking on the link they send you in the email
if you have not received the email you can request a resend or check your spam folder

Make sure you check your junk/spam. Make sure your email provider allows the address "alerts@hashflare.io".

Once you change your Bitcoin withdrawal address, there is a 14 day wait before you can withdraw. This is done for security purposes.

It is not the matter of changing payment address on hashflare but he really wants suggestions from experienced member on his investment decision.
Cloud mining has been proven worthless in many discussion threads before, whether it is hashflare or any other cloud mining platform, you will never get profits as shown by their calculator. It is pretty insured that holding in bitcoin is profitable instead of spending on cloud minings

Thanks for al the very useful answers.

I was able to change my BTC address before, but it just not works anymore.
My mail server logs do not show any attempt to receive a mail from them except from the support team.
It is 100% sure no problem with spamfiltering or mailsettings.

It seems confirmed that the problem has to do with scam, not spam.

The advice to stay away from HashFlare seems to be the best after all.

The only good news is that the (luckily) small amount of money I lost with them was not needed.

So my advice to all :
HashFlare is a proven SCAM ! Stay away from it.

Nah! They are big time scammers. They always have been until the notice was published about the shortening of the terms of contracts on 256 SHA package. This was about three to four months ago and they also increased the minimum withdraw option and even the minimum re-inevstment option. This made users locked down from all the side. Neither they could re-inevst the money earned to speed up the minimum cap or to reach that level and nor they were able to reach the ROI before the end of their terms of contract which is 12 months. There is cloud mining which can settle you like that easy and there is always trouble from their side. Its better not to invest in any kind of cloud mining operation. They are almost one and the same thing throughout the internet with same Ponzi schemes.

Might be a scam? It's cloud mining what do you expect. Even genesis mining still have tons of existing problems and unresolved accusations from users themselves. And even if cloud mining are not ponzis, profit is, if not, close to 0.

Well scam or not , it's clear what to do after Hashflare gots lots of problem since their operational commenced.

https://bitcointalk.org/index.php?topic=1425951.20

https://bitcointalk.org/index.php?topic=2169657.0

https://bitcointalk.org/index.php?topic=2138012.0

https://bitcointalk.org/index.php?topic=2091934.0

I agree on what you have said on here which even those long running cloud mining sites as of now doesn't even guarantee that it would be legit and as being read on hundreds of feedbacks and issues you would really able to say that they are giving significant signs that they would eventually collapse sooner or later this is why I don't really put any interest on investing money on these kind of Ponzi investments because you would really just regret if they would run off with their investors money including you.

yes , lot of closed mining sites turned scam in past , not sure about hash flare what happens,  but is always suggested not to invest on closed mining sites because they become scam at any time, in the hash flare now they increased the withdrawal limit. Best is to mine by investing on good mining hardware or buy few amount of bitcoins and hold it for longer, once price increases it can be sold so in that it will be  safety for the invested amount.

It's going to be the same as hashocean so make sure that you know where you are investing. And that's why I'm suggesting to others that just stay away on these cloud mining. Others might convince newbies to invest on it because of it's tenure on it's operation but still they can collapse and run anytime. I don't trust cloud mining, they are changing regulations - payment threshold and almost everything they want and that's something that makes them not trustworthy.

Should I change the title ?

All the answers point to one conclusion:
Hashflare turns out to be a Ponzi scheme evolving rapidly to it's end.

Not one single answer gives them credit.

No single answer stating withdrawals could be made recently.

They are constantly claiming the problems are caused by blockchain, but other payments work just fine or with some minor delays. Been doing a lot of transactions lately and yes, I experienced some delays, but not even near the order as HashFlare claims. Unless they are making transfers without fee while charging customers. Most probably they are in their final stage which means: no returns anymore.

I would strongly suggest not to invest in this company !

No need to changed title as everyone knows the obvious thing that is happening "or might be happening right now". Also for latecomers, it should be obvious that investing on cloudmining even how legit it is, isn't really profitable nowadays unless someone will risks "decent" amount of money.

Back on your case, we need others responders if they experienced the same way (when I say other responders , it should be the old timers). But since after creating this thread and no one respond with the same case plus lots of threads already created about this in the past (as stated by other users here) , it's now obvious what should we think.

Sorry for your supposed loss.

might be scam? It's pretty obvious in my opinion

Cloud mining is the poor way to make money in the mining platform but you can make faster profit in the ASIC mining. Still many people looking to invest on the cloud mining due to not aware of hardware maintainance and electricity issues. But please do not think like that you will get the more income than cloud mining here in the GPU mining or ASIC usages. I see many threads in this section discussing the hashflare and other cloud mining scams. Then why people still investing on the scam attempt. When it is seems like cheating.

I heard lot of complaints about Hashflare, since december 17 major changes and flaws started to happen. the site went down for 3 days now they change withdrawal rates and fees on a daily basis. where competitors have a minimum withdraw of 0,002 ,btc hashflare upped it to 0,01 then to as high as 0,1 btc which now stands at 0,05btc. still paying but confusing.  ??? ???

It doesn't really matter what you or others say. There are enough delusional people that will invest in these schemes anyway, and it has been like this for years now. It shows that no one even bothers to actually think before pumping money directly into the pockets of scammers. If this market wasn't full of delusional people, these cloud mining services wouldn't exist anymore, and that's a straight fact. Anyone contributing to these services by investing in them to exist longer, is equally as bad as the scammers running the show.

And they disabled withdraws except withdraws of 0.05 BTC minimum. So "little" investments are lost.
Just looked at my account. The power went off and the ROI went down, but it doesn't matter as we can't withdraw anymore.

I made several small investments on HashFlare, and now I'm screwed. My lifetime contracts are now only 1-year contracts, and the amount of hash power I "own" for these limited contracts won't even allow me to net enough to reinvest my earnings into more hash. I was fine when they said that the minimum withdrawal was upped to 0.01BTC, but now that it's 0.05BTC? Yeah, in my mind, they have confirmed that they are a Ponzi operation. So convenient how it comes at a time when accounts should now be maturing enough with reinvestments to continually withdraw profits from their "mining" efforts.

It's just too convenient for them to point fingers at everyone for the sudden changes, and for me, it's beginning to look like the beginning of the end. I'm only in for a couple hundred bucks, and have withdrew most of that already, but chances that I'll reach my 0.05BTC threshold again for my next withdrawal before my "lifetime" contracts expire? Doubtful.

Was so clever to have withdrawn partly earlier, when it was still possible. However the profit is gone and there's a little loss, true.

Mainly posting this article for community warning.

They saw the big picture, price of bitcoin going up more than 10.000 dollars and they suddenly changed the lifetime contracts to just 1 year contracts, leaving many people without the possibility to reach ROI taking into consideration the increased difficulty in mining. To me this looks like a perfect way of setting up a perfect scam. I feel sorry for people who invested here.

Can you show proof? you can show screenshot of your hashflare account, you can show screenshot of emails, how much did you earn per day? How many bitcoins have you invested? How many times have you made withdrawals since the day you invested? I want to know about it because I have read many stories in the last days about this site and it is always good to keep informed with concrete data.


I also had a hashflare account, they blocked me, even if the password was the same, I resend password, then follow all the steps and the result was the same "invalid username or password" and until today my account is in that state, I already gave up because every day my earnings were reduced, but in the time that bitcoin increased I decided to see how my earns were and I can not login on the site. So i give up

If you smell something fishy about something appears to be sketchy and so vague sometimes might be better avoid it while you just started it to lessen the risks. Nice to put up a thread and make a warning towards the newbie users and great for the community. But should you have some evidence?
 before judging it.

You cant access the site but still you can recieved your earning that was still a good state though but as expected returns would be lesser and lesser as the days goes by. I would like to ask the same thing which op should provide some proofs because its really easy to claim some issues on verbal form and its not really treated to be serious because of lack of proofs but seeing on the situation or issues involved on hashflare then i would consider this as a valid one this is why its never been wise to put up money on these ventures.

They tend to invest in cloud mining as if they are mining too and part of the farm and they can't avail to buy asic miners.

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Those people that are still investing to these cloud mining sites aren't informed on what really is cloud mining and some are just stuck with their withdrawals and they are hoping to withdraw their fund soon once they reach the minimum withdrawal.

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It's a sudden change and how long you need to reach that minimum withdrawal?

I have 0.036btc in my account, and according to the revenue forecast on my account, I should make enough to reach the 0.05btc threshold in just over 6 months. Too bad my “lifetime” contract expires before then. I will never see my earnings because i won’t hit my threshold unless I invest more into another contract. If that isn’t the beginning of the end for this company, I don’t know what is...

Oh, and here’s a message I just logged into:

“Dear users,
Creating new Bitcoin withdrawal requests is temporarily disabled due to a very large number of not broadcasted and/or unconfirmed transactions still pending on the side our provider, block.io. Read more from our newsletter here.”

So just another excuse, it seems. Why should high fees matter, if we are able to set our own fees? We understand how high fees are at the moment, so wouldn’t we understand that paying the high fees is the only way for us to withdraw our earnings?

I no longer have any faith that I will realize the remainder of my earnings from this site. Please think twice before investing into this ponzi.

You're almost near to the minimum withdrawal Joe.

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And now they are disabling withdrawals? They must be hiding something with that reason of the high fees and unconfirmed transactions. I know it that it's just an excuse, I'm not trying to give you some fear Joe but if anything happens unexpected with that 0.036BTC are you prepared with it?

Did you read the December 27th update?

Withdrawal is enabled with 0.05

That's pretty much the most obvious red flag signal a ponzi scheme can give you. It's all done to prevent people from cashing out their coins, which directly gives them more incentive to reinvest their "earnings".

As soon as people reinvest their "earnings" the service knows that you got trapped in with no way of escaping. Reinvesting is the worst possible thing one can do with cloud mining, that's for sure.

My advice is let everything pile up till you reach the minimum amount that's required for cashing out, and then cash it out and safely store it offline. Anything you get back from them is like a gift from heaven, so don't be greedy.

Even after all my earnings for the remainder of my contracts, I will not meet the minimum threshold for withdrawal. The only way I will be able to meet the withdrawal threshold will be to purchase another contract, which I do not want to do. There’s no telling what will happen in a year from now. Sadly, I think the beginning of the end for HashFlare is here.

As a HashFlare user I to had concerns about the scam nature of many cloud mining providers.   So I started to collect information with the help of other HashFlare users and aggregate it here on the CryptoCron Wiki

http://www.cryptocron.org/wiki/HashFlare_FAQ (http://www.cryptocron.org/wiki/HashFlare_FAQ)

And more specific information on the benefits and risks of investing with HashFlare here http://www.cryptocron.org/wiki/HashFlare_Investing (http://www.cryptocron.org/wiki/HashFlare_Investing)

I think it's very clear to make a distinction between "Investing for ROI in USD" or "Investing for acquisition of coins".   You don't get USD directly for mining, but you get coins (or fractions of) which you hope will be worth more than the funds you provided to get them down the line. 

A person before investing in a cloud mining website should keep this thing in mind that where he is going to put his money is no less than a ponzi scheme. And they should only invest them if they can bear the risk and wont complain later, because it has been said a thousand times that cloud mining websites are of no use even if they are not scams, but still if someone invests, it is their own mistake.

Just wanted to include this for people that are looking at this thread in order to make a decision about investing with Hashflare or not.

There are a huge amount of good news stories about Hashflare as well. (especially Youtube)
One could easily be persuaded into thinking this entry is on the negative side, and things are not that bad after all.

Whatever your decision is, keep in mind that there is a referral program!
People that are knee-deep into this shit will NEVER admit that they are thinking to make profit by luring others.
Go look for positive remarks THAT ARE RECENT and NOT CONNECTED to the referral program.
Things will become more clear.
Choose, but choose wisely.....

all the best, don't get ripped!

Agree about the referrals part. Therefore you might read this thread from mghaynes:

https://bitcointalk.org/index.php?topic=2521761.0

He just recently confirmed that he cashed out without problems two times.
He's in for 84 TH/s and got back 39% of his investment after 1 month so far.

I am too invested with Hashflare but only with 1.5 TH/s BTC and 9 MH/s ETH ... so I have to wait some longer before I can withdraw myself.
I recently reinvested some of the mined BTC's to add on ETH mining. For myself I would never post a referral Link as I see this forums as an information exchange and not a pool to earn money.

Read the topic and came to the same conclusion:

Only people involved in the referral program have recent good news.

Basically I did the same experiment before and I was able to retrieve some investments too.

As I bought into BTC before the hype it is of no interest to me to loose the investments. They are really small if you refer to the value of  0.5 BTC some years ago, combined with the initial retrieve possibility. (clever me  ;) )

However, recently I am not able to re-enter my wallet address in the browser, and no confirmation mails are sent by HashFlare.
Only the delete address function was possible.
My wallet address was properly checked, and all possible hard and softfork possibilities were checked too, so pretty convinced it is not my error. They have me by the B@77$#.....

They do not reply and prove that mails indeed leave their server, and for the worse, helpdesk mails that come from the same domain are indeed received by me, so I am pretty sure about e-mail settings and spam filtering not being the trouble.

Thanks for the reply, spread the message if you think it can protect others.....
Go ahead with hashflare and see it as a gamble, it is great fun and you eventually loose all your money. Just, DO NOT PUT YOUR LIFE SAVINGS IN IT ! Neither use money you really need.

All things fair, I feel the need the post an update.

I was finally able to withdraw my bitcoins!

I went through the path of changing e-mail addresses and settings and lots of challenges, but finally step by step I made small progresses.
Not sure whether this was because of changed programming or a change of house rules, but slowly the process started to work as described.
While I am 100% sure my former e-mail address, BTC address etc where correct, by changing all these I was able to retrieve everything.

This makes the title of this thread a bit unfair, though the effort needed to retrieve a fairly small amount of money makes me decide the whole thing is still a bit tricky, if not, it may show some aspects of a little scam.

For me, I like to finish this thread with a kind of "creed of the day" : NEVER GIVE UP !

https://twitter.com/hashflare/status/1082611194945564673

There are many people complaining.

look:

Name: CarlK
Posts: 21
Activity: 21
Merit: 0
Position: Newbie
Date Registered: November 21, 2016, 09:01:23 AM
Last Active: August 07, 2018, 12:57:25 PM

OP gave up continuing to use hashflare because of the inconvenience he had