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Author Topic: Hashflare mining is not giving payouts anymore?  (Read 1900 times)
njmulhsn
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June 12, 2018, 06:43:40 PM
 #1

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."
"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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June 12, 2018, 09:15:53 PM
 #2

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."

I read the same on their officiap facebook. You can do nothing, just wait what they'll decide to do and fix situation. Usually that's strategy of genesis mining to close your contract because of mining difficulty reason. To my mind they aren't scammers but if they won't be able to continue profitable mining for investors, then they have to return some invested money and give 100% back of investment - currently profited to new customers and them, who hasn't ROI-ed yet.

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timerland
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June 13, 2018, 10:03:15 AM
 #3

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."


Yep, this is true according to their official facebook page: https://www.facebook.com/hashflareb/

A dire situation to be in for sure as an investor. This is why I don't believe in cloud mining whatsoever. You don't know whether they are being honest, or using this as an excuse to not pay out anyone. All the statistics are on their side, and they can manufacture payout stats and all that once you invest.

Plus, you have no flexibility whatsoever as an investor. If you just invested in bitcoin itself, you can still hold until the bear market is over. But with this contract that they have, you're guarantede to lose money. Idk what you can do in this situation, honestly. Because they've got all the control over your funds.

Not to mention that Hashflare has been shady af with cutting down contracts from lifetime to 1 year, and this is just adding to their untrustworthiness. Don't invest with them at least, but I'd say cloud mining in general is a no-go.

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June 13, 2018, 04:01:48 PM
 #4

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."


If that exact situation you need to move from the hashflare to some other profitable cloud mining to swap the present condition for mining purposes bro. I see many people already confirmed that it has been shared on the facebook page I guess bro.
To say the exact issue of yours you should skip from the cloud mining completely and switch to direct mining mate.

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June 13, 2018, 04:11:12 PM
 #5

There is always the risk involved with mining and yet cloud mining is no exception. I have never tried hashfire nor any other provider out there in the past but what seems to me is that it is hard for them to keep clients to be satisfied on one end and on another to make profit. Well if dificulty goes more and price don't increase much they might close at the end of the day if they don't succeed to pull this though.

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June 14, 2018, 03:13:18 PM
 #6

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."

I read the same on their officiap facebook. You can do nothing, just wait what they'll decide to do and fix situation. Usually that's strategy of genesis mining to close your contract because of mining difficulty reason. To my mind they aren't scammers but if they won't be able to continue profitable mining for investors, then they have to return some invested money and give 100% back of investment - currently profited to new customers and them, who hasn't ROI-ed yet.
Didnt see a reason for them to make some refunds for those who invested. Its possible for new investors but not on the ones who didnt able to reach ROI midway.We cant really able to say they are scammers since they do had really the valid reason why they dont able to give you payout due to difficulty rise and of maintenance fee which is the cause that you dont even have the chance to gain if you had invested. Hundreds of times being said before that cloud mining arent really worth to invest at all.


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June 14, 2018, 06:19:58 PM
 #7

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."

Try to wait for the price of bitcoin to increase in value, currently the value of bitcoin is much lower and not only there but all of the miners are getting less income from their mining. If the price of bitcoin will increase then you will get some profit from there.

Many of the mining companies stop getting income from the mining at the time when the price of bitcoin decreases. Remember the time of 2013 when the price of bitcoin started to decline many of the cloud mining websites stop their work and shut down. After 2016 when the price increase some of them started their business again.

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June 14, 2018, 09:17:19 PM
 #8

Unfortunately, this is the result of the maintenance fees being more than that you are making from them. That's what makes cloud mining such an unprofitable venture, which is exactly the opposite of what some people try to pitch to you on platforms such as Youtube.

Bitcoin prices have defintiely gone down, which is potentially why this is happening. However, it could just be another one of the tricks that they play (just like they did with lifetime contracts) in order to avoid paying as much.

BTW, can anyone confirm that are all users of Hashflare being affected by this? Or just the people who bought their contracts at times when they were extremely pricey? Either way though, it's best to steer clear of cloud mining altogether, especially HF.

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June 14, 2018, 10:38:11 PM
 #9

Hundreds of times being said before that cloud mining arent really worth to invest at all.
People are ignorant and too stupid to understand that it is nearly impossible to generate worthwhile passive income in this industry. Everything promising you high rewards is mostly a scam by default.

The only somewhat viable way is to get involved in certain lending platforms that in return for your coins you get a certain percentage interest, but the viable aspect makes it very low rewarding. Low risk equals low reward.

This isn't the stock market where you can park your capital in dividend stocks. The only dividend alternatives in this industry are POS coins, but these only tend to lose value, which makes your dividends worthless.

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June 15, 2018, 06:53:11 PM
 #10

Unfortunately, this is the result of the maintenance fees being more than that you are making from them. That's what makes cloud mining such an unprofitable venture, which is exactly the opposite of what some people try to pitch to you on platforms such as Youtube.

Bitcoin prices have defintiely gone down, which is potentially why this is happening. However, it could just be another one of the tricks that they play (just like they did with lifetime contracts) in order to avoid paying as much.

BTW, can anyone confirm that are all users of Hashflare being affected by this? Or just the people who bought their contracts at times when they were extremely pricey? Either way though, it's best to steer clear of cloud mining altogether, especially HF.

Why actually maintainence fees becoming the trouble for the past few months mate. I want to invest 500 USD in cloud mining contract with in some months that should be goes with the fees alone who will going to invest on the cloud mining mate.
That is reason many of the people really not suggesting the cloud mining as a investment for making profit. Even the contracts rate also high when compare these days.
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June 16, 2018, 03:39:25 AM
 #11

People are complaining about the hashflare payouts whether they are saying the problem is maintenance fee and this not the case to consider. The main reason is they are not getting more investments from the investors and this makes them fail to pay the payments. Soon another cloud mining going to become scam.

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June 16, 2018, 04:38:13 AM
 #12

This is the problem with cloud mining, once it isn't profitable for the COMPANY that you paid to have the contract. They're going to stop paying you, it's in the terms that you signed when you bought the contract itself. It sucks, but this is the problem with not owning your own equipment.

Valuable lesson here, cloud mining is either a scam or isn't profitable.
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June 16, 2018, 04:53:37 AM
 #13

Mining as a whole at this moment in time is extremely risky as difficulty's going continually higher on all chains and coin prices keep going on a downward swing- I'm not even going to take a look at mining gear in the near future unless things change with pricing. GPU profitability's continuing to slip and the time to break even on most GPUs are near or over a year at $0.10/kWh, FPGAs and ASICs are being developed left and right for every profitable algo imaginable, and it's just a shitshow in general for mining with the incredibly high risk that's present right now. I love mining, but I'm likely going to switch to temporarily just buying coins instead of investing into new gear.

$100 isn't a very significant amount of money to lose (and I'm not taking the coins you managed to withdraw into consideration) if you learn a lesson here and stop gambling by putting your money into cloudmining. In the future, consider buying and holding coins or find ways to get gear hosted if you're unable to mine at home. In cloudmining, only the seller of hash wins and not you- in a situation where the hash seller actually mines, having people purchase cloudmining contracts offsets the risk of mining onto you, the purchaser, instead of the hash seller.

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June 16, 2018, 11:39:25 AM
 #14

It all depends.

In 2016 I invested 800$, got it 3 times back in 2017.
With the return I invested 2000$ wich is not paying out anymore.
I took screenshots from time to time and for example in january 2018 at the peak of Bitcoin
the revenue was somewhere around 35$ a day.

From my point of view they should continue mining or at least are doing in now without paying their clients out.
At a time Bitcoin will get interest again and I'm pretty sure it will rise above 20K.

That said, If we keep mining now and price goes up big again soon or later.
We can make much more profits but.. I really understand why they do this.

Let us say 1000 investors want their payments and BTC goes to 2k.
They can actually go broke and everyone is losing their money.

In the end I'm still running my GPU rigs on solar energy on ETH wich are mine due to the above fact.
I will pay the extra energy if needed from some savings I made before to overcome the dip.

Let's keep positive here. The power of blockchain is huge. For instance gaming platforms that are getting developed now.
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June 16, 2018, 07:15:01 PM
 #15

Hundreds of times being said before that cloud mining arent really worth to invest at all.
People are ignorant and too stupid to understand that it is nearly impossible to generate worthwhile passive income in this industry. Everything promising you high rewards is mostly a scam by default.

The only somewhat viable way is to get involved in certain lending platforms that in return for your coins you get a certain percentage interest, but the viable aspect makes it very low rewarding. Low risk equals low reward.

This isn't the stock market where you can park your capital in dividend stocks. The only dividend alternatives in this industry are POS coins, but these only tend to lose value, which makes your dividends worthless.
Passive income and with less work, No human would really refuse to that offer this is why fools would always exist if most of them already learned doesnt mean the cycle wouldnt continue. New people recruits other people would still continue the chain. They are being fed up thats why they do exist for scam cloud minings continously. We arent lacking for keeping advice and warnings but people are too hard headed they do only realize when they already lose up money.

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June 16, 2018, 07:56:07 PM
 #16

Soon another cloud mining going to become scam.

Not really. If you read through the terms that most cloud mining providers (scam or not scam) handle, they can legally get away with it and for that reason don't have to run.

People should blame themselves for this and not HashFlare. If you before investing know that the day will come where your contracts or shares won't be paying out anymore, then you have no right to complain or moan about the situation afterwards. If you are man enough to buy into cloud mining, then be man enough to accept the risks and each outcome associated with these risks. It makes no sense to complain about something from which you know it will happen with continuous difficulty increases.

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June 17, 2018, 05:35:22 PM
 #17

Hell everbody

I want to report abuse in work and cheating  from company  HashFlare ( website: Hashflare.io ) too.
The way they cheated me, and i am believe that i am not only one, it is for police investigation.

I invested $ 3,000 into Bitcoin Cloud Mining on a one year.
But after 6 months, I get messages that their costs are higher than earnings and
that we can not earn more from mining. If it is correct, let the company declare bankruptcy.
Likewise, if company can not mince Bitcoin, let to switch to another crypt that is cost-effective.

If I bought a btc directly, I would have 0.3, but I did not even reach half with mining. And yet, they have been prevented from further mining, it is criminal.

In this moment I am lost $ 1700 in this company as well as many others.
They steal every day on existing clients and newcomers
who do not know they are scammers and what awaits them.

We was accept the risks of changing the value of crypts,
but that their negative business breaks on our back, is unacceptable and criminal.

We need to report this case police.

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June 17, 2018, 09:55:31 PM
 #18

I invested 100$ in hashflare mining at the end of 2017. Soon after the bitcoin price started declining and is declining at the moment. In this situation hashflare has stopped giving payouts and says that the mining fees are higher than the payouts. Can anyone suggest what to do next? the following is exactly what they say.

"Dear users,
Because of the current market situation, with the latest spike of mining difficulty exceeding 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline, the payout was lower than the maintenance fee, which resulted in the balance not increasing and remaining the same. We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible."


I don't see this as a tenable excuse for why they are refusing to do payout even after investing since 2017 which is going to 2 years counting but unfortunately the reasons they are giving is verifiable and there is nothing that can be done otherwise than to wait. But at the same time, it does not remove the fact that they should be held liable. Companies in the business world does not always have a good year sometimes they make less profit other times they make huge profit but rather not turning out dividend to their investors, they would reduce the profit and sometimes would still maintain their previous profit by ploughing back into the profits they have accumulated during the period of boom. What would have been ideal is to restrict the amount to be withdrawn depending on the classes of amount invested, find a way to cut down costs or plough back to the good times profit made when bitcoin price went all time high.

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June 17, 2018, 11:09:01 PM
 #19

Hell everbody

I want to report abuse in work and cheating  from company  HashFlare ( website: Hashflare.io ) too.
The way they cheated me, and i am believe that i am not only one, it is for police investigation.

I invested $ 3,000 into Bitcoin Cloud Mining on a one year.
But after 6 months, I get messages that their costs are higher than earnings and
that we can not earn more from mining. If it is correct, let the company declare bankruptcy.
Likewise, if company can not mince Bitcoin, let to switch to another crypt that is cost-effective.

If I bought a btc directly, I would have 0.3, but I did not even reach half with mining. And yet, they have been prevented from further mining, it is criminal.

In this moment I am lost $ 1700 in this company as well as many others.
They steal every day on existing clients and newcomers
who do not know they are scammers and what awaits them.

We was accept the risks of changing the value of crypts,
but that their negative business breaks on our back, is unacceptable and criminal.

We need to report this case police.


This is why I stop investing in cloud mining because instead of making a profit for your investment you end up losing your investment I hope that new comers can think deeply before they invest in cloud mining if you have that large amount of money why you still invest in cloud mining? You can build your own mining rig or you can buy an ASIC miner with this amount of money. The only solution that I know for now is to request a refund of your investment if they don't give all of your investment this is another scam just like what happened to scrypt.cc and other cloud mining site. I hope you learn right now and be smart when dealing online instead buy your own hardware to mine bitcoin or altcoin to make you profit without needs of any cloud mining.

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June 17, 2018, 11:14:44 PM
 #20

They are using SHA-256 mining hardware which is not very effective in terms of power consumption.They pay so much on electricity unlike Other mining services (Genesis,Viabtc,hashing 24) using ASICS. It is sad indeed Sad.I hope the price of bitcoin rises soon to compensate for the hashrate spike.
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