Can I Trust Hashflare.io ?

[hashrateorg]

Hashflare.io does not instill confidence in its users at all. I have a bad feeling about this service now that they have a high minimum withdraw. Why can't their users just pay the higher fee and withdraw whenever they want? I hope they are implementing user-selectable fees.

[muzuca]

Hashflare.io does not instill confidence in its users at all. I have a bad feeling about this service now that they have a high minimum withdraw. Why can't their users just pay the higher fee and withdraw whenever they want? I hope they are implementing user-selectable fees.

Just for information, I was be able to withdraw my bitcoin balance yeasterday without a problem.

The process took 3 hours.

[elkoxon]

Alright lads, HashFlare is not a company to be trusted, no matter if they let you withdraw

With the current network congestion the average block reward is between 19 BTC and 20 BTC so you should be getting between 0.00019 and 0.0002 per 1 TH/s while those scam artists pay only in the range of 0.00012 to, if you are super lucky 0.00014.

Current block rewards: https://btc.com/

Calculation according to a much higher than standard block reward: https://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=1000.00&p=0.00&pc=0.10&pf=17.00&d=1873105475221.61000000&r=18.00000000&er=16350.62000000&hc=0.00

Stay away (i was defending them just few weeks ago but there you go)

[Taki]

Of course you cannot trust to any site like that, online mining services, I mean. Many sites like this one turned out to be scams, so don't invest your hard earned money into online mining. If they are giving some mining power for free use that like you can use their referral system and that can pay out for you, but do not invest your money. Good luck!

[elkoxon]

They don't give any free Hash power, they are just robbing users from 30% of their mined coins from the power they've paid for

[muzuca]

Of course you cannot trust to any site like that, online mining services, I mean. Many sites like this one turned out to be scams, so don't invest your hard earned money into online mining. If they are giving some mining power for free use that like you can use their referral system and that can pay out for you, but do not invest your money. Good luck!

Ok, but I’m just telling my experience using their services in 8 months... and with some patience I was be able to get my money back and for now one I’m having only profit.

Of course 8 months ago the crypto currencies world was different... and now the ROI is uncertain,  because the bitcoin price and that  they rise the price to buy hashpower.

I’m using this BTC calculator: https://www.cryptocompare.com/mining/calculator/btc?HashingPower=1&HashingUnit=TH%2Fs&PowerConsumption=0&CostPerkWh=0

[elkoxon]

Cryptocompare calculator does not factor the corrent block reward and calculation is based on 12.5. Only CoinWarz calculator has the ability to factor the block reward, just put there 19 in block reward as that is the current average, from 16th december.

If you know someone with an ASIC just ask him how much he is doing currently per 1 TH/s of hashpower, you'll be surprised as you should be making more than before the difficulty rasies because of the high block reward.

[elkoxon]

Don't put your money in HashFlare, they are thieves and people that keep promoting this shit would throw you under a bus for few bucks

[muzuca]

Cryptocompare calculator does not factor the corrent block reward and calculation is based on 12.5. Only CoinWarz calculator has the ability to factor the block reward, just put there 19 in block reward as that is the current average, from 16th december.

If you know someone with an ASIC just ask him how much he is doing currently per 1 TH/s of hashpower, you'll be surprised as you should be making more than before the difficulty rasies because of the high block reward.

Hummm I didn’t know about that, I was thinking that the block reward is fix, always. So, how the block reward is more than 12.5? Because the high fee per transaction?

In this case I agree with you.

[elkoxon]

Man, can't you just go on BTC.com and see what are the block rewards?

https://btc.com/

Yes, it is due to high fees, as you might know the fees are added to the mined blocks as reward for miners to confirm transactions.

[muzuca]

Man, can't you just go on BTC.com and see what are the block rewards?

https://btc.com/

Yes, it is due to high fees, as you might know the fees are added to the mined blocks as reward for miners to confirm transactions.

Tks man. It’s clear now.

Now the block reward is extremely high and we are not receiving this from Hashflare. Anyone knows if other cloud mining companies do the same?.

I read this site to understand how the transaction fee affect the block reward: https://www.bitcoinmining.com/bitcoin-mining-fees/

[elkoxon]

Genesis Mining and Hashing24 pay. The difference on a 100 TH/s contract is 0.009-0.01 on HashFlare vs 0.016-0.02 on Genesis-Mining and Hashing24. Easy to count how much money someone with that kind of contract is loosing daily...

[elkoxon]

OF course, not only me. They probably receive questions in regards from about  150 users for now

[ShadowBJ21]

People who call a 1-year contract a scam or ponzi scheme clearly don't know how scamming works.
With a 1 year contract you have a fixed investment and get a return for the time of one year.

Even with the BTC down and the difficulty up the ROI should be reached at around 5 months (if you paid $1.50 per 10GH/s).
But even if it takes 7 months ... you come out ahead.
If you only think it's a legit investment if you're ahead after one or two months you should stop dreaming. Maybe dream about buying your own miner. Good luck with that investment and the utility costs. And no, your own miner is as much not a lifetime investment as are the so called lifetime contracts.

Latest after three years (maybe earlier) the utility costs will surpass your mining results and the miner is only a very expensive piece of metal and cables. Same happens with so called lifetime cloudmining contracts.

It's really surprising to see how many still expect that BTC mining is like printing your own money (well, it is ;-) ... but not in regards of winnings).
So if you can't accept that you only have a small ROI and won't become rich easily ... better don't try at all.

[elkoxon]

NO it's not the 1-year contract it's the fact they've never showed that they have the capacity to accomodate 1M clients, it's the fact same people run POLYBIUS ICO that scammed 30M usd, it's the fact that HAshCoins never produced it's own miners. It's a fuckin lie. Open your eyes or don't cry once they got "hacked"

[Pujangga]

I have a hashflare account and I deposit for bitcoin and ethereum mining, but after 5 months I can not login and I can not withdraw, and already more than 3 times I sent email about this problem but never answered.

[kayihtr]

Of course you cannot trust to any site like that, online mining services, I mean. Many sites like this one turned out to be scams, so don't invest your hard earned money into online mining. If they are giving some mining power for free use that like you can use their referral system and that can pay out for you, but do not invest your money. Good luck!

Ok, but I’m just telling my experience using their services in 8 months... and with some patience I was be able to get my money back and for now one I’m having only profit.

Of course 8 months ago the crypto currencies world was different... and now the ROI is uncertain,  because the bitcoin price and that  they rise the price to buy hashpower.

I’m using this BTC calculator: https://www.cryptocompare.com/mining/calculator/btc?HashingPower=1&HashingUnit=TH%2Fs&PowerConsumption=0&CostPerkWh=0

Hahahaha... You have 'invested' at Hashflare 8 months ago and now you're "only having 'profits'"? Hahahaha.....

Could you please check the price of bitcoin in April (8 months ago)? It was less than 1200 USD. If you were to JUST BUY Bitcoin itself 8 months ago you would have made more than 1250% net profit over your 'investment'.

However, since you think you paid for cloud mining let's look into what would have happened if you had actually 'mined' Bitcoins. Mining with a mining device like Antminer S9 would have given you at least 2000% profit over your investment on the device (even when the electricity cost is taken into consideration).

I am pretty sure you BARELY got the USD you invested 8 months ago and maybe at best, you have made 300 to 400% percent profit at top of your 'investment'.

It's a huge scam. If you or any other guys here don't like the word scam, I would use a better one: it's a blatant burglary. They're stealing your money and making not millions but billions of dollars for themselves. They are not even rewarding 60% of what they should be rewarding people.

Good luck to all.

[elkoxon]

Fuckin spammers...

[vhiancs]

i did not try this hashflare site before but i have many experience to cloud mining. I have read about the hashflare site so far  it is many positive feed back but there is a lot of negative feed back also, I think this is a site will not last long and will also be a scam site.

[Hamphser]

i did not try this hashflare site before but i have many experience to cloud mining. I have read about the hashflare site so far  it is many positive feed back but there is a lot of negative feed back also, I think this is a site will not last long and will also be a scam site.

All these cloudmining sites do really have the risk on becoming a scam later on specially if they cant able to sustain the payouts or returns been given to its investors but for now we cant say this site is scam since its still paying up but as a wise investor we should really not include this cloud mining sites to our choice list or on investment list because sooner or later you would really regret on your decision because profits wont really be felt unless if they still offer lifetime contract then it might be considered good.