AND NOW THE END IS NEAR.... as Frank Sinatra sang..... dying dying dying dead.....

HASHFLARE EMAIL SENT TO ALL INVESTORS

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Dear users!

As you know, the last few months have been a difficult time for the cryptocurrency market, which has also affected the operation of our service.

We have made every possible effort in order to resolve the problem that has arisen – for instance, we have considered a variety of technical solutions, which would have allowed us to lower expenses related to maintenance and electricity. However, due to the general instability of the market, the actions we have taken could not significantly influence the current situation.
 
For over a month our users encountered a situation when the payouts were lower than the maintenance fees, resulting in zero accruals to the balance. As of 18.07.2018, the payouts were lower than maintenance for 28 consecutive days.

BTC mining continues being unprofitable, in light of which we would like to inform you that on 18.07.2018 we were forced to start disabling SHA hardware and today, on 20.07.2018, stop the mining service of active SHA-256 contracts in accordance with clause 5.5 of our Terms of Service, which are required to be accepted when creating a purchase and are the basis of concluding the contract.

We expect that the cryptocurrency market situation will stabilize in the nearest future and we will be able to offer our users new advantageous solutions.

We will continue to inform you about any changes. Stay tuned for updates!
 
Respectfully,

HashFlare team

Well!!! I guess this is the start of the end for HF now with this announcement coming today...

HF = Slow Death for investors...

Well Slow Death...what an apt name...bc0z that is what 'Cloud Mining' should be renamed....

At least I have only invested a very small amount compared to others.. and I simply would love to be trading ALT Coins like others do that have nothing else to do in their day and making such a minuscule profit for their efforts....

Crypto will never replace fiat... those that think it will must live in fairy land....

Here Here BitHodler.... Do yourself a favour and google USI-TECH and see how famously they are going....

I don't mind thinking that HF will also be going down that path as well sooner or later....

Bitconnect did much the same thing to there investors as well.....

Sometimes people actually trust these cloud miners and think that what they have to offer is credible and invest. I luckily, only invested USD125 in one of their cloud mining contracts so not that much to lose...

Just would love some company out there that does what they say and can offer guaranteed ROI mining crypto for those investors that don't have the time to be watching it all day long.... JMO!!

Apparently HF have an alternate plan for their investors...none of which has been divulged at this stage..... One can only wait and see as the 20th & 21st day rolls around until the existing BTC contract terminates due to non profitability....

So in a nutshell...Just don't EVER get into cloud mining with any company offering you a massive ROI because inverably the whole thing is a complete scam...

They are all the same...

Bitconnect
USI-TECH
Hashflare

to name a few. Crypto is not the way of the future no matter what they say. Better to put $50 on RED and spin the wheel??

Unfortunately Rahar02 it would seem that many open current contracts will in fact cease and be terminated in 11 days for some as Bitcoin continues to totally DUMP...

Whoever thinks it will re-cover to the December 2017 all time high is totally kidding themselves...

Crypto & Cloud Mining is a complete dud...even ALTCOINS have taken a massive dive of nearly 50% from when they were purchased. It would seem the best thing to do is recover whatever dividends that you can and run for the hills.

You would be better of having a share portfolio than investing in crypto that seems to be going very fast south.

I for one will now have to wait for HF to terminate my contract and not receive one single thing back....

BTC

With the very low price of Bitcoin at the moment and having a SHA-256 contract with HASHFLARE there has been no returns above the current fees being deducted.

Does that mean that after the 21 days of non-profitability that the contract I have will be terminated.

Will HF return anything to me or will I have forfeited my $$$ under their T&C's...

With not being able to do anything like add some more Hashpower to the existing contract even... I am sure that my contract will be terminated and in turn I will lose all $$$ invested...

Can someone advise? Thanks in advance....

Well!! BTC's value is droppping fast and while there have been no payouts that are greater than the current MEF it will mean that after 21 long and arduous days the Minning Contract will be defunct and withdrawn by HashFlare. As per the Terms below.

5.5.   The Mining process continues until said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated (Hashrate type specific). During the consecutive 21 day period, Payouts and Fees will also be temporarily stopped. If during the suspension period, the Contract-related mining factors (such as the exchange rate and mining difficulty) that are outside of HashFlare’s control will change favorably, making mining profitable again, the Service will be unsuspended and contracts reactivated.

GOODBYE initial investment HELLO HashFlare profit.... so sad..

#whatcanyado #ripped #countingthedays #21days

Hey Shaw

Many thanks for your reply. Unfortunately I am a first time investor in the crypto space and all my research pointed towards the Hashflare platform.

As I don't have much knowledge in this area and wanted to start out small with 2 T/H contract I thought that this would allow me to get a feel for how the whole thing works.
I simply do not have the amount of time it would require to be watching the markets and doing live trades on alt-coins and prefer the passive income generated from these platforms with minimal effort and experience.

I will watch with interest as to whether there is much movement but atm it would appear that the HF MEF fees outway the profitability I guess due to the low btc USD rate.

I also initially got involved in USI-Tech and you may have heard that they also went south very quickly and the whole descended into a loss for many investors....

Would appreciate any feedback or direction in regards to alternates though. Always willing to listen.

WOW!!! What is it with the "SHA-256 payout (BTC) less than maintenance (BTC)" that has been like that for the last couple of weeks!!

Can anyone shed some light on it and whether there is any hope for the contract not terminating after 21 days and potentially losing all of the seed.

Is there any hope in sight. THOUGHTS!! BTC

I too was lured into the cryptospace some time back with an MLM and at the time it seemed like a great adventure. I was being guided by upline really well and the returns were amazing each day of between 0.75 and 1.25% ROI. My BTC was growing and growing each day through the compounding effect and I could see real progress.
But then over time things started to go pear shaped as the greedy ones started to get even more greedy and slowly the benefits of the ROI % started to dwindle and now through time the whole thing has collapsed.. I doubt I will ever get to see even my original seed back.... Guess that's the risk you take in investing in bitcoin with these sorts of MLM's such as Bitconnect & USI TECH....