Bitcoin Forum

Hi Guys,

Due to increase in difficulty (14%) and fall of BTC price, mining out put of hashflare is less than daily maintenance fee. So remaining fee is being deducted from you
existing balance.

You can check in your daily payout history. So withdraw your fund ASAP.

Sadly, i can't withdraw it because my fund is not reach their minimum withdrawal. Nothing that i can do for now except wait them to fix this issue, or just forget this cloud mining.

This is really said and it goes to show how virtually all cloud mining schemes are nothing but a form of fraud (or shady at best). They can fix this issue only when bitcoin starts to rise again. In the meantime, they are well covered for this type of action with their mining contracts, so there's nothing anyone can do but not participate in cloud mining again.

Would not it be better for HODL, to sell when the price drops might save us from defeat but this would make the coin value worse.

Well it was pretty clear from the start that cloud mining isn't viable, as they are functioning properly as long as they are getting new registrations as they used the new money to payout the older users. Not to mention so many cloud miners who just ran away with peoples money. Cloud mining is nothing more than a pyramid scheme.

there are many people who do not like this news, this is a big bucket of cold water in the heads of many people ... they have changed many things in the last months that directly hurt their customers and benefits the owners of hashflare. with so many promotions that they were doing I was already distrusting that they are with some serious problem that is preventing them from continuing to make payments to their investors and with this last move I just confirm my hypothesis may be right


you just should not invest in this site and pray for the situation to normalize and you have the chance to withdraw your money

Is this true?

Because if true I am very upset, because for the time being I can not withdraw funds. in our country is experiencing a long holiday which resulted in withdrawal stopped temporarily.
I hope there is no reduction

Yeah i know that, i invest it when the price is really high (dec 2017), well its really profitable back before but i regret it and i already move on from it.

There is the forever rising difficulty and mined coins that halve in amount every 4 years and the expenses needed to maintain the mining farm. A higher price will not save you from a loss because more miners will come in and compete making the difficulty rise again.

This is really a bad news for all investors including small ones like me who only have small amount of hashing power in my account. Good thing I didn't bought too much power or I will only regret this mistale I made. Hopefullu hashflare will let us withdraw our remaining funds, they should lower the minimum withdrawal

Yes, this is true and you can see their post on official facebook page: https://m.facebook.com/story.php?story_fbid=1688126954574376&id=1626067687446970
Sorry but I can't understand your last proposal.
I don't use hashflare nor any other cloud mining company but was it possible to withdraw fund anytime you want? As far as I know you buy one year contracts and it's not possible to sell hashrates.

This thing is somehow already anticipated or expected to happen and back in the past its being mentioned and advised that sooner or later these cloud minings would turn out not to be profitable and now its already happening and theres nothing to be surprised of. Mining difficulty rise up and the price of bitcoin is depleting down then this would really be the result. If you invest to this then you should be aware on this possibility for you not to be shocked.

All those who have invested in Hashflare are well aware of the problems of this site. It is a copy of Genesis Mining and they are both unprofitable. Even Hashnest who is backed by real Bitmain hardware is not profitable and cannot make you ROI under these circumstances, difficulty increase and price decrease.

I suggest to people wanting to invest money in cloud mining websites to not do so, rather they to buy a mining computer or buy bitcoin with that amount of money. It is a better investment.

This is one of the many failures of lack of regulations. If it were to be in business world a business that is ready to manage peoples investment would be touted to be financially stable even before its being issued a license to operate, it would have made a huge deposit that would not be part of trading activities to be sure that they have a strong financial backing in case of unusual circumstances like this. In addition to that, there is a portion on deposit that would be insured and there is always provision to be made during the time of excess for the shortage period. Its so annoying that the managers of hashflare don't want to share the cost by transferring the increase in difficulty to their client to the extent of reducing their balance whereas they quick to share the profit with them with their ridiculous charges to be applied in other to maximise their own revenue.

A lot of people apparently can't actually withdraw because of the fact that their minimum withdrawals are not hit yet. For those who have this issue, have you tried contacting support to withdraw your funds manually?

If I were an investor, I would definitely withdraw what I can when I still can atm. HF is an extremely shady entity, with a history of manipulating the contracts of the investors. There is absolutely no way in hell that I would trust them.

They've confirmed this publicly, i think. Again, confirms most of our warnings from the start that cloud mining is unprofitable and extremely risky. However, are people's balances actually getting deducted? I thought that there would be no maintenance fees charged, since they stopped mining altogether.


Not really. A lot of people have been directed there by youtubers that claim it's profitable.

Cloud mining unfortunately isn't fair business. All people investing in cloud mining are only being used as a cash cow. I am quite sure that the operators just sleep well knowing that their own profits are secured during difficulty jumps. On the other hand, we shouldn't be too lean on the people going for cloud mining -- there is enough history proving how bad of an investment is in this specific industry. If it back in the days was bad already, how much worse is it right now, lol. People's only insurance is that they are being paid out for sure during rallies, but oh boy, once the price tanks they'll gladly let you know how bad the situation turned....

This is the risk that people should have known when investing in HF.

Not only is cloud mining completely unprofitable in the long run, there is always the risk of the company that you invest in not being actually legitimate but instead running a ponzi scheme or becoming insolvent with withdrawals/customer funds.

Hashflare has previously already demonstrated that they are completely untrustworthy through the increase of minimum withdrawal to absurd levels (which is actually preventing people from withdrawing right now).

This current scenario could be because of difficulty increasing, and dropping prices, which again proves the fact that cloud mining is unprofitable. Or, it may just be the result of hashflare not being able to afford payouts anymore.

Either way, it'll be interesting to see what goes on next, whether they terminate existing contracts or not. But cloud mining is definitely something to avoid, especially hashflare.

Decisions would either goes into that way they do possibly scam but i dont see they would do such thing. They might possible to announce about of non-profiting business to its investors soon depending on how this market moves.If they scam then they can easily be traced up since theyve been here for years, locations and people behind are known so they wont really make such move but as an investor we should always consider on possible results or outcome before investing into any cloud mining.

It's unbelievable, how could mining fee deducted from investors? and many of them cannot withdraw their right due to high minimal limit to withdraw and lack of information about hashflare maintenance costs,
here the information if you want to withdraw:
Each withdrawal is a subject to a transaction fee, which is paid to the blockchain for transaction processing and confirmation. Currently, the following withdrawal minimums are present:

minimal BTC withdrawal is 0.05001944 BTC, where 0.00001944 BTC is paid to blockchain*;
minimal ETH withdrawal is 0.1006 ETH, where 0.0006 ETH (in GAS equivalent) is paid to blockchain.
minimal DASH withdrawal is 0.1003 DASH, where 0.0003 DASH is paid to blockchain;
minimal ZEC withdrawal is 0.10003 ZEC, where 0.00003 ZEC is paid to blockchain;
https://hashflare.zendesk.com/hc/en-us/articles/207973869-How-to-make-a-withdrawal-?mobile_site=true

Again and again, compliants does happen most of the time in this investment. I myself been in this situation that experienced scammy cloud mining in year 2016 and have learned a lesson hard enough not to trust again.

This problems are just the beginning and sooner or later things might change drastically that all your money be sucked by this sites.

So in this alone you will realized that there is no other way, but out.

So it was a scam, like many other cloud mining scams before it. I hope people will finally stop falling for these offers.


It's not the problem of regulations. These companies are usually registered and they are paying taxes and should have all the paperwork and be subjected to inspections and audits like all other companies. Nobody cares and nobody bothers to check them until it's too late.

What they would fix? Maintenance fees? No they wont fix anything since this business generates them income and they do charge investors as they like with those terms and thats how shady cloud mining works.
Investing into these companies wont really be worth anytime and its being said for how many times that this isnt an ideal investment but people do keep on coming in and now they do see the results
and start to regret on what they do had made such decision. Promotional codes are just luring you in but totally useless and it cant really decrease the initial expenses and i dont know where you do get that idea.