HashFlare appears to be a Scam

[CarlK]

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

[1715268472]

1715268472

[SyGambler]

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

[lucianus_luciferus]

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

[PeZ]

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.

[h0lybyte]

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

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

[CarlK]

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.

[ss890]

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.

[Maveth13]

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.

[goinmerry]

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 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

[Hamphser]

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.

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.

[rphk]

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.

[eagleman]

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.

[CarlK]

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 !

[harizen]

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.

[favdesu]

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

[Wipro]

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.

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.

[sahil1301]

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. 

[1Referee]

I would strongly suggest not to invest in this company !

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.

[Zocadas]

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.

[BTCforJoe]

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.