Hello,

What happened::

WARNING !!! its a fake website that invites you to make a BTC deposit on the following  BTC address "1M9eDf8ajZGveR4Eh8un1HChyf8yCU2k2S" to unlock arbitrage functions/features, but actually that is just an empty box with nothing in !!!

Scammers Profile Link:



Reference Link:

http://arbitragebot.net/

Amount Scammed:

0.05 BTC

Payment Method:

BTC

Proof of Payment:

https://blockchain.info/address/1M9eDf8ajZGveR4Eh8un1HChyf8yCU2k2S

PM/Chat Logs:
Additional Notes:
Reporting this website as a scam "arbitragebot.net"

BTC. That was my plan since the beginning (and  i didnt expect at that time BTC to loose up to 70% of its value ... )

Hello,

Finally reached breakeven after 128 days ( to be compared to the 84 days forecasted at the beginning )

Currently because of the BTC price, fees are representing about 60%-70% of my incomes.
With the current BTC price & difficulty, i can expect to make about 0.47 BTC ( that s far from the initial forecast which was around 3 or 4 BTC )
In anyway that can only be better as i would expect the BTC price not to go lower.

Hi,

This is getting slower and slower to reach the break even point

It tooks 20 days to move from 80% to 90% of breakeven

Started 95 days ago.

Now planning to reach breakeven between 115 and 120 days, which is not that bad at the end ( and  to be compared with the original 84 days forecast )

Hi,

Now recovered 80% of my initial investment after 75 days.

Of course wont be able to reach break even in 84 days as initially scheduled.

75 days after i started buying hashrate at hashflare, my daily net incomes are a 1/3 that it was at the beginning because of the conjunction of higher difficulty and higher maintenance fee.

The plan now is roughtly to reach the break even in 110 days which is still acceptable and profitable.

100% agree, difficulty increase is the main issue

So i guess we are getting back our investment at the same pace, as we bought about at the same time.

I am calculating my Returns in BTC only ( My purpose since the beginning is : should i just hold my .BTC or bet i ll make some more in buying hashrate )

And as i remember  when i bought the contract pricing was 1.5 per 10 GH/s and the BTC price was higher when i bought it ( around 14k-16k USD/BTC )
that may explain the gap between both our breakevens period.

Hi

Some update from my side

A few days ago i recovered 50% of my initial investment.
As a reminder, i dont have any strategy but getting to breakeven as fast as possible ( in crypto we dont know what s gonna tomorrow   )
I got to 50% in 39 days, i am in line with my initial plan ( 84 days breakeven )

The last increased in difficulty seems not to have much effect in the hashing rate per TH  (still  0.00013161/TH/s)

So i can say so far so good.

--

Also i noticed the ENG Hashflare telegram group disappeared, i dont know why, that was a good source of up to date information

Hi,

I made a withdraw again on this morning.
It took only a few minutes from the transaction to move from chain.so to the [Suspicious link removed]pared to hours,  weeks before, thats a good surprise !

yes sure, already withdraw twice.

Hello,

An update from my side after 30 days in Hashflare/
Just to reminder, i started on Dec 10 2017 with 84 TH/s

For now i recovered 39.2 % ( in BTC ) from my initial investment
which makes breakeven at 77 days.

I have been quite lucky as previous mining difficulty has been only increased by 3.1%

Next one ( currently scheduled for Jan 12 ) should be higher, around 10%

I didnt get a chance to reinvest as the BTC price didnt get much higher since my last update ( the only condition i would reinvest was the BTC to make a big jump higher )

Hello,

18 days since my contract with Hashflare started

Recovered already 23% of my initial BTC investment.
My initial breakeven period has been delayed of 4 days from 74 days to 78 days

So far I got no reinvestment strategy but reaching the breakeven as quickly as possible

I should be able to keep that pace for the 2 weeks after Jan 1 ( next scheduled  diff change ) as so far, then next mining difficuty should not increase very much :

It is just 0.5% ahead for now : https://diff.cryptothis.com/

So i can expect to me on schedule for the next 5 days + 14 days

I should probably recover 50% of my initial investment on day 40 which is pretty good 

I do not plan to change the current strategy unless BTC surges dramatically ( then i will reinvest in TH/s) or HF gives some great discounts on TH/s

Will see

Update following the mining difficulty increase since December 18.

As expected mined BTC / TH/s dropped down from  0.00015026 to 0.00012704

The daily payout will be the same for the next 12 days until the difficulty will be recalculated

For now i was thinking about reaching the break-even point in 74 days ... Now i got to postpone...


Something that should ALWAYS be taken into account when buying some BTC mining Hashrate is that ROI will in most case be later than expected because most often the mining difficulty will increase every 2 weeks.

-

Btw, as mentioned before, prices has been increased from 1.5$ per 10GH/s to 2.2 per 10 GH/s

Again, do the math before buying !!!

Well, i am more worried with the 18% difficulty increase every 2  weeks ( if the current trend will continue the next months  ) :
It means for instance that in one month and an half we will earn per day HALF what we earn now  !!!!

=>  https://hashflare.io/r/5906301A  <=

Wow !

There is a few hours left now before the difficulty is recalculated to match the current network hashrate...

I dont know what is the exact formula to determine the next difficulty based on the current Average number of blocks found every hour.
 ( see https://fork.lol/blocks/time ).

I hope that is not as simple as : One block found every 7.3 minutes since last difficulty instead of 10 minutes :
10 - 7.3 = 2.7 ( 27 % !!! )

I usually found around 17% 18%, which is quite a lot in anyway.

I will have probably to change my goal and postpone the moment for break-even if i want to maintain some regular outcomes ( converting regularly BTC => FIAT )

=>  https://hashflare.io/r/5906301A  <=

Some tips and advices :

• Always check the official twitter before jumping into FUD : They always report current issues and solutions on both  
       https://twitter.com/hashflare    
• The same information is also reported on the top of your hashflare dashboard
• Join the Hashflare Officlal Group on telegram, You can get there any up to date information ( and dont forget to scroll down on previous message
       as same questions are repeated many times a day

=>  https://hashflare.io/r/5906301A  <=

Hi Mg,

I started the same journey as you on December 9 ! I just noticed your post now.
I shall say i ve got the same fears and questions that you had when you started an that you may still have :
It is a scam ? is it a Ponzi ? What if they shut down on tomorrow, what if they are hacked and so one ....

As you reported already, hashflare is/was the only one to sell sha256 mining contracts ( and so far the most profitable ones ).
Unfortunately they are less communicating/transparent than Genesis for instance.

I choose to move from trading ( time consuming & addictive ) to mining since the BTC raise renders BTC mining profitable in a pretty short period of time.
I started with 83TH ( about 13 K$ or 0.74 BTC with the gains i made buying a few BTCs on last september )

No bad surprise till now.
I received my daily payout as expected, and i did my first withdrawal on yesterday ( it took as long as 16 hours to complete, because of the very low fee used by HF )

My purpose will be reach the break even in 84 days ( 0.01 daily payout at least ) reinvesting any remaining .BTCs to counterbalance the inevitable difficulty raise

Lets see !  

--

NB:

=>  https://hashflare.io/r/5906301A  <=