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HashFlare.io Review – HashFlare’s Reputation is Plummeting

Are you considering getting into the cloud mining game by joining Hashflare? Are you already an existing customer? Are you interested to know if this is a legit or scam company? If so, you may want to read our extensive Hashflare review. During this review, we will explore everything you need to know about this cloud mining service, where it stands as of now and if you can trust them or not.

What is Hashflare?

HashFlare is an online site, launched in the beginning of 2015, offering a range of cloud mining services. They are a division of another company called HashCoins, which was founded in 2013. Cloud mining is the process of mining cryptocurrencies via a remote data center, using shared processing power. This type of mining allows users to mine Bitcoin and other various cryptocurrencies without having to purchase, own or manage any hardware or software. Hashflare’s professed goal is to make mining accessible to all users regardless of age, location, investment or experience.

Like many other cloud mining services, HashFlare offers features such as hashrate allocation to pools, once every 24 hours a user is able to select up to three pools as well as what percentage of hashrate to use in their selected pools. They also offer lifetime contracts in which the purchased hashrate does not expire, 24/7 tech support, a functional control panel that displays the users statistics, revenue and its forecast, as well as a referral program in which the user can receive additional funds (10% of referred users purchase) from inviting new users to the Hashflare service.

hashflare.io - Bitcoin Cloud Mining
HashFlare.io

HashFlare Pricing

HashFlare claims to have fixed prices, with no hidden fees or commissions. They have various cloud options for members to choose from. These cloud options are listed below.

SCRYPT CLOUD MINING – $11.50 per 1 MH/s

  • SCRYPT Algorithm Miner
  • Minimum Hashrate: 1 MH/s
  • Maintenance Fee: 0.01 $ / 1 MH/s / 24h
  • Hardware: HashCoins SCRYPT
  • Automatic Pay-out in BTC
  • In Stock
  • 1 year contract

SHA-256 CLOUD MINING – $2.40 per 10 GH/s

  • SHA-256 Algorithm Miner
  • Minimum Hashrate: 10 GH/s
  • Maintenance Fee: 0.0035 $ / 10 GH/s / 24h
  • Hardware: HashCoins SHA-256
  • Automatic Pay-out in BTC
  • In Stock
  • 1 year contract

ETHEREUM CLOUD MINING – $2.20 per 100KH/s

  • ETHASH Algorithm Miner
  • Minimum Hashrate: 100 KH/s
  • Maintenance Fee: None
  • Hardware: GPU Rigs
  • Automatic Pay-out in ETH
  • In Stock
  • 1 year contract

ZCASH CLOUD MINING – $2.00 per 0.1 H/s

  • EQUIHASH Algorithm Miner
  • Minimum Hashrate: 0.1 H/s
  • Maintenance Fee: None
  • Hardware: GPU Rigs
  • Automatic Pay-out in ZEC
  • Out of Stock
  • 1 year contract

DASH CLOUD MINING – $5.80 per 1 MH/s

  • X11 Algorithm Miner
  • Minimum Hashrate: 1 MH/s
  • Maintenance Fee: None
  • Hardware: Multi-Factor
  • Automatic Pay-out in DASH
  • In Stock
  • 1 year contract

Why HashFlare’s Reputation is Plummeting

Contract Changes

Although HashFlare may have started out as a decent company with good intentions, it seems as though their decisions and actions of late have sent them on a permanent downward spiral. While conducting some investigative research for this unbiased HashFlare.io review, the amount of negative reviews and feedback we came across from actual members was truly astounding. Let us begin by looking at the current most prominent complaint found online from HashFlare users.

You may recall reading earlier on in our review that one of HashFlare’s features was offering lifetime contracts, as stated on their “About Us” page under “company.” Did you notice any lifetime contracts in any of the above listed cloud options they offer? Well, there is reason for this discrepancy. Recently HashFlare took the decision to not only cease offering these, but also to terminate existing lifetime contracts and convert them over to the current offering of one year.

This decision has led to outrage among users. After having read pages of complaints from irate customers in various cryptocurrency forums regarding the sudden change, it seems as though this has led to HashFlare losing many existing users as well as potential new customers. Some users threatened legal action, while others simply stated that they had been scammed and were no longer happy with their changed contracts or with Hashflare in general. It may be interesting to note that at the time of shortening the contracts, they also doubled their price. That is very unethical of them.

Scam Accusations

If you do some proper due diligence, you will come across multiple scam accusations against HashFlare. Some of these are truly disturbing to say the least. There are actually far too many to mention them all in this review, however we will go over the most concerning ones we came across.

The first accusation is that HashFlare does not do any mining at all and is simply another Ponzi scheme. One member posted saying in order to prove this, all a user has to do is look at Hashflare’s daily graph that shows their revenue as per 1Th/s. A user can point their hashes 100% towards Antpool and then look at the graph. They will notice that HashFlare’s graph is inconsistent with Antpool’s graph. This could mean any number of things. 1) On Antpool’s unlucky days, Hashflare is not affected and somehow has more revenues on that day. 2) On Antpool’s lucky days, Hashflare is not affected again and somehow misses the extra revenues 3) If the graphs are continuously inconsistent then one of them likely has a permanently faulty database. Also, HashFlare offers commission on newly referred members, this is often indicative of a Ponzi Scheme.

Another issue in regards to whether or not HashFlare does in fact do any actual mining is the lack of proof thereof. Some users claim they are legit due to the pictures they post on their Instagram account. However, can that really be considered hard evidence? Pictures showing some racks filled with a limited amount of GPU’s and two men working with or installing them fails to provide one important aspect, and that is proof of ownership.

HashFlare - SCAM?

Unable to Reach ROI

Another concern is the fact that many users complain of not being able to reach their expected ROI due to the high maintenance and withdrawal costs associated with HashFlare. Yes, they apparently have a low entry cost, however, profit with cloud mining in general is typically very small and takes a long time, especially if you take into consideration the ever increasing difficulty in block mining. If you cannot cover all the fees involved you end up at a loss, unable to recover your initial investment and your account will be terminated. There is also no guarantee as to how long the company will remain afloat.

Look at the recent HashOcean’s saga, they were one of the biggest cloud mining sites around for about 2 years and were paying out their members ROI’s for a short period. Two years later the company went under with no pre-warning and many people lost a lot of money.

The next issue is the fact that the company HashCoins, that HashFlare is a division of, has also been labelled a scam by a lot of people. The main complaint against HashCoins is that they have never delivered any of the hardware they supposedly sell. Customers pay upfront but the shipment never arrives. In the first half of 2016, they were taking pre-orders for the Uranus vapourware but when all their customers started to make it known publicly that they were not delivering, they offered them compensation in the form of a cloud mining contract via HashFlare. To this day, many believe this was just a ploy to help HashFlare gain more customers. Today, HashCoins has been blacklisted as a scam on multiple websites and forums. The majority of positive reviews and comments found had referral links in them & those are obviously biased as those people are trying to earn commissions.

HashCoins Scam

Popularity

HashFlare is a highly popular website. At the time of posting this review (20 September, 2017), their Alexa global rank was 2,557. Most of their traffic seems to originate in Russia and Ukraine, but significant numbers also come from Brazil, United States, India and Germany. According to SimilarWeb, more than 30% of their traffic arrives from referrals, mostly from mellowads.com, coinbux.club, and thepiratebay.org.

They are also advertised via email campaigns. We received a newsletter recommending them, and several other scams, such as Genesis Mining and BitClubNetwork, from bitcoincloudmining.org.

HashFlare.io Review Conclusion – Not Advisable to Invest With Them

After having spent many hours researching all available information on HashFlare, we have to conclude that the scale is falling more on the negative side of things than the positive. We could go on and on about how the CEO Sergei Potapenko is connected to various other blacklisted services such as HashCoins, Polybius & Emercoin, all of which have nearly identical team members on their sites and who actively link to, advertise and promote each other.

In addition, countless other complaints against Hashflare such as the support team not replying to any users emails or denying they have received certain payments. They have even been caught using fake reviews on their site (see image below), but if we did that this would end up being a never ending review which would take days to read. I hope that I have given you plenty of food for thought so far in our detailed HashFlare.io review, enough to help you reach a safe decision.

HashFlare.io - Fake Reviews

There are some who claim HashFlare.io to be legit but there are many more who claim they are a scam. Understand that we have no dog in this ongoing fight, we simply wish for you to have all the available information in order to make an informed decision. Regardless of whether or not they are legit, cloud mining is actually not such a great investment these days. The profit is extremely small, takes an exceptionally long time and the majority of cloud mining sites turn out to be scams or Ponzi schemes. At the end of the day, you are taking a huge risk for a small return. It is just not worth it.

Review Verdict: HashFlare is a SCAM!

Blacklisted Site: hashflare.io

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122 Comments

  1. Kamal M

    REFUND BALANCE CONTRACT FEE
    ===========================
    JUST NOT to refund balance contract fee, FRAUD HASHFLARE.IO have done resumption of SHA-256 contracts. They must refund balance contract fee from 10th June. This again shows hashflare.io are scamsters. Payouts were not even doing the break even otherwise. I will publish this at all possible forums otherwise also you guys have become very famous as scamsters. Now you should refund the balance contract fee and resuming operations is just another EYEWASH.

    I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

    From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

    I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

  2. timothy burnell

    I am form Australia I am going to lose 1000.00 Australian they are dogs never reply to emails was going to make 3,000 lol now I will not get a cent back

  3. Gabriel

    You should accept their terms or walk away, that’s what I think. Cloud mining is risky business. Once the btc rate is appropriate, we can gain profit again.

    • Kamal M

      REFUND BALANCE CONTRACT FEE
      ===========================
      JUST NOT to refund balance contract fee, FRAUD HASHFLARE.IO have done resumption of SHA-256 contracts. They must refund balance contract fee from 10th June. This again shows hashflare.io are scamsters. Payouts were not even doing the break even otherwise. I will publish this at all possible forums otherwise also you guys have become very famous as scamsters. Now you should refund the balance contract fee and resuming operations is just another EYEWASH.

      I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

      From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

      I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

      Great post! Full Hashflare Review here! scamorno.com/Hashflare-Review-2018/?id=scambitcoin

  4. Jasmine

    All cloud mining services are similar. You take this risk in order to get the profit, but no one guarantees instant wealth. I worked with hashflare for couple years and I felt just fine. Market situation has worsen and it influenced everything a lot. I think we just need to wait it out.

  5. Lisette

    Not really sure about that, I mean according your logic we can call all the companies “scam”, not only hashflare, we can even call BTC “scam” itself

  6. PHILLIP TOOPS

    DON’T MINE WITH THESE **SHOLES! A TON of BS involved here. I purchased several mining contracts, and there were problems from the very start. Nearly ZERO customer service unless you consider getting a response via email days or weeks later – somehow acceptable. My first mining contract purchase was made with Bitcoin (BTC), but between the purchase of the mining contract and the arrival of the BTC to Hashflare, the price of BTC decreased, leaving the entire transaction in limbo for WEEKS. There was literally ZERO customer service on this issue. I then had to buy more BTC and send in more than the mining contract purchase required in order to prevent the same thing from happening again. My excess BTC from the PURCHASE of the mining contract was NEVER refunded, nor was any additional hashrate applied to the mining contract to cover the difference. Then, down the road, eventually BTC dropped in price to the point where the “mining maintenance fees” exceeded the BTC production value. Instead of honoring the CONTRACTS and waiting for the BTC to regain or exceed it’s original price, Hashflare announced to all holders of mining contracts of BTC that it was “DISCONTINUING BTC PRODUCTION!” This of course was blamed on the “maintenance fee exceeding the value of BTC production”! This is DESPITE MY HAVING PURCHASED A 1-YEAR MINING CONTRACT! Instead of offering credit on whatever cryptocoins the active Hashflare mining equipment was being “SWITCHED TO”, there was NOTHING whatsoever done to accommodate, compensate, or titillate anyone holding an existing BTC mining contract! But that’s not all! Then, BTC, ETH, and etc. were slapped with “MINIMUM WITHDRAWAL AMOUNTS” that effective TIED UP THE CRYPTOCOIN BALANCES so that they COULD NOT BE WITHDRAWN by the holders of the mining contracts! Of course, the entire cryptocurrency market plummeted, and only holders of HUGE mining contracts had enough cryptocoins to meet the “minimum withdrawal requirements”. This meant that everyone holding a Hashflare mining contract basically lost their *SSES while the value of cryptocoins plummeted because all their crytocoins were tied up with Hashflare. Customer service regarding this issue: NON-EXISTENT! Weeks later, the BS response from Hashflare amounted to “We are working on this problem, and in the weeks/months to come, it will be resolved so that you can withdraw your cryptocurrency in lower amounts”. What a bunch of CREEPS! Then, if THAT wasn’t enough, Hashflare decided to implement “ID VERIFICATION REQUIREMENTS” to pull ANY of the mined cryptocurrencies out! These verification requirements effectively tie the holders of the mining contracts up for WEEKS and MONTHS to come! I went through HELL finding a phone number somewhere in the UK for this company, but it is really nothing more than a SHELL GAME, with NO HUMAN BEINGS AVAILABLE to deal with ANY OF THE ISSUES that were enumerated here. STAY AWAY FROM THIS LOSER-SCAMMING **ITHOLE of a TRAVESTY! WHAT A JOKE!

    • Kamal M

      REFUND BALANCE CONTRACT FEE
      ===========================
      JUST NOT to refund balance contract fee, FRAUD HASHFLARE.IO have done resumption of SHA-256 contracts. They must refund balance contract fee from 10th June. This again shows hashflare.io are scamsters. Payouts were not even doing the break even otherwise. I will publish this at all possible forums otherwise also you guys have become very famous as scamsters. Now you should refund the balance contract fee and resuming operations is just another EYEWASH.

      I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

      From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

      I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

      • Paul

        Hey guys! I tried to make a refund here in france but i met a problem – banks ask for all my docs, also they were asking why when and how did i meet w/ hashflare also why i do not pay taxes from these payments… it;s really crazy thing. hashflare is a player since 1024 i dont believe they are scams

        • Kamal M

          REFUND BALANCE CONTRACT FEE
          ===========================
          JUST NOT to refund balance contract fee, FRAUD HASHFLARE.IO have done resumption of SHA-256 contracts. They must refund balance contract fee from 10th June. This again shows hashflare.io are scamsters. Payouts were not even doing the break even otherwise. I will publish this at all possible forums otherwise also you guys have become very famous as scamsters. Now you should refund the balance contract fee and resuming operations is just another EYEWASH.

          I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

          From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

          I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

          • James

            It’s strange, Kamal. #hashflare always responds, try to chat with them in facebook, i think u will get an answer quick.

        • Alexandro

          I was asking for a chargeback from SunTrustBanks but my request was happily declined. Waiting for a Hashflare refund, hope that they gonna pay us back. They have been in the field for a long time and they have too many customers to outsmart us all.

          • Mia

            They have recently posted some updates saying that refunds are happening with some sort of delay cause it’s too many requests. They’ve been trustworthy for a long time, so don’t think we should worry too much. At least another month.

          • Bruce

            I’m waiting for a return for a long time too. When I wrote to their support, they said they have a lot of applications and asked me to wait

  7. MathBC

    Worst investment ever. The fee increase as the bitcoins price decline. While my contract of 1 years still ongoing, HashFlare did stop paying the investors (renters). In short, at 800 usa $ per Bitcoins, the HashFlare fee were 80% of the Th/s rented. So I was left with 20$ per day. Really not good at all. At 11 000 USA $ the profit after the fee was 40%. This company It’s a scam mining company like Avatrade Bitcoins future exchange. With or without regulation, these companies making profit only for themselves. They love money deposit, but one way or the order, they don’t want to share fairly. Don’t listen to the HashFlayre CEO on You Tube, he is just a puppet place to answer with lies to protect his job. This is why mining and ICO is just 99% scam.

    Use B i n a n c e exchange to make profit. Up to 2 Bitcoin of withdraw without proof ID and citizenship. 0.25$ (25 cents) per trades fee no matter the size of the trade. B i n a n c e withdrew really good and It’s a good crypt exchange.

    • Chris Kruppa

      I think the only way forward now is to file criminal complaints. I am 100% certain that the hash power they operate is even less than 10% of the hash power they have sold to customers. It is a ponzi and a scam and all we can do now is to NOT let them run off with all the money. I have instructed my UK Lawyer to file the complaint.

        • Kamal M

          I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

          From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

          I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

          Kamal

          • Mike

            Kamal, i dont really thing that police can do anything, because then I spoke to my lawyer he told projects like #genesis #hashflare and all other are not under laws, bcoz of BTC – we have no official documents what is btc and how it works… just remember gambling, for a long time is was like btc so goverment could not do anything too.

    • Kamal M

      I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

      From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

      I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

      Kamal

    • Oliver

      i think ALL investments are bad to earn money. the best investment is education and skill, maybe C++, for example. #hashflare is not guitly here, this is a realy life dog

  8. Ahmed

    Good Day Gents

    PPl Who Said Hashflare is fine , hashflare is good , please open your eyes and correct me if i am wrong and i am using their calculator to calculate the profit of 10000 Gh Equal 800 USD >>> Oh IT IS Ok Amazing you have a revenue by the end of the year about 1850 Usd And You Are Paying 800 Usd there is a profit 1200 USD IS Fair BUT WAIT There Is A Maintenance FEES And ELEctricity FEES .0035 USD Per 10GH SO The Yearly Fees Is .0035*1000*365 Days Which Equal 1277 Deduct them from 1850, Now You Have In Hand 572 From your Original 800 Usd (ORiginal money With loose about 225 Usd After a Complete Year)

    Better For You To Buy BitCoin Directely Or Make You Own Rig, these Guys are Using Our Money To Keep their Assets healthy And Make Profits

    • Kamal M

      I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

      From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

      I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

      Kamal

    • Kamal M

      Manipulted payouts by hashflare.io from 1st Feb, 2018
      =====================================================

      I purchased contracts @ 2.20 USD per 10GH/s. Now hashflare has no takers even for .60 or .80 USD per GH/s.

      2 May 2018, hashflare.io dashboard shows my earnings 23.15 USD, I got net 10 USD. Instead of 35% maintenance they cheating by deducting whopping 65%.

      29 April 2018 I got net 0.00086421 BTC, your payout dashboard shows 0.00226779 BTC. So I got only 38% of payout, 62% payout is EATEN UP/ MANIPULATED by HASHFLARE.io. I

      DRAINED 7020 USD on hashflare.io as they promised 450% RoI. I will not invest single penny until I get that profit and returns.

      EOBOT has doubled its 5 year contracts to protect its customers, hashflare is corrupt, greedy, manipulative, insensitive and working to make its customers BANKRUPT

      Maintenance for 17Apr 2018 = 64.06% 1d revenue shown on dashboard for today is 24.47 USD. I got huge 8.62 USD NET after you deducted your LUXURY charges. SHAME on you

      cheap guys. Looks there were no takers for 30% discount at 1.20 per GH/s. I was trapped by you at hefty 2.20 per GH/s. Now 25% discount? even after 30% was discarded

      by your TRAPPED BANKRUPT CUSTOMERs?? This data will be the criteria for my future investments with Hashflare. Infact – This will be the criteria for each and every

      customer for future investments with Hashflare.

      PAYOUT per TH/s
      ===============

      14.01.18 0.00014967

      24.01.18 0.00011318

      On 14Jan2018 I had got 0.00014967 which fell to 0.00009427 on 31Jan2018. This is SHEER CHEATING.

      Look at the recent PETTY MEAGRE payouts:

      04.02.18 0.0001002

      05.02.18 0.00010583

      09.02.18 0.00008932

      10.02.18 0.00009174

      01.04.18 0.00006665

      10.04.18 0.00006957

      02.05.18 0.00006693

      Pls see some examples of my maintenance charged since 2 Feb, its UTTER MANIPULATION, CHEAP TACTICS.

      Maintenance for 2Feb 2018 = 37.15%

      Maintenance for 6Feb 2018 = 45.37%

      Maintenance for 9Feb 2018 = 49.10%

      Maintenance for 26Feb 2018 = 44.04%

      Maintenance for 8Mar 2018 = 47.19%

      Maintenance for 10Mar 2018 = 50.00%

      Maintenance for 11Mar 2018 = 52.56%

      Maintenance for 15Mar 2018 = 58.85%

      Maintenance for 16Mar 2018 = 58.67%

      Maintenance for 27Mar 2018 = 64.41%

      Maintenance for 29Mar 2018 = 64.80%

      Maintenance for 30Mar 2018 = 73.85%

      Maintenance for 31Mar 2018 = 69.68%

      Maintenance for 1Apr 2018 = 74.57%

      Maintenance for 2Apr 2018 = 75.44%

      Maintenance for 5Apr 2018 = 78.51%

      Maintenance for 8Apr 2018 = 70.48%

      Maintenance for 15Apr 2018 = 57.70%

      ——————
      My payout for April 14 0.00256317 BTC
      Maintenance for the same day 0.00166872 BTC

      so 0.00166872/0.00256317*100 = 65.10% is the maintenance fee. This is happening for months now?? Can you correct this or you have rsorted to cheap tactics. I have

      complained about falling payouts many times but no satisfactory / clear / justified reply received.
      —————–

      ——————
      My payout for April 13 0.0026989 BTC
      Maintenance for the same day 0.00168192 BTC

      so 0.00168192/0.0026989*100 = 62.32% is the maintenance fee. This is happening for months now?? Can you correct this or you have rsorted to cheap tactics. I have

      complained about falling payouts many times but no satisfactory / clear / justified reply received.
      —————–

      On 5th April, 2018 you r showing FAKE revenue forecast of 0.00248009 BTC = 17.01 USD

      my actual payout of today is 0.01091058 BTC after maintenance fee, it becomes USD 5.00

      u guys r becoming CHEAP FRAUDS?? Pls see comments on your reputation below :

      After a steep 50% hike in contract fee, Hashflare payouts have fallen down VERY VERY SHARPLY more than 50% – SHEER LOOT and CHEATING on investors. 35% Maintenance Fee

      is FIXED, 220 USD per TH/s Contract Fee is FIXED, only this varies OHO NO DECLINES is PAYOUT.

      Payout per TH/s on 14.01.18 was 0.00014967.
      At new Fee 220 USD TH/s and Payouts of 0.00010491 per TH/s dated 3Feb2018, it needs 14.5 months to break even for a 12 month contract.
      1st March Payouts of 0.00007758 per TH/s, everyone would be in losses not even recover the invested money.

      Payouts reduced to almost ZERO after investing 7000USD. Hashflare.io maintenance fee is fixed, contract fee is fixed. Only thing what goes down is PAYOUT. 0.00006665

      per TH/s as on 1 April 2018. You can’t even break even in many years for their 1 yr contract.

      Just a few examples are mentioned below PETTY RETURNS PER TH/s:

      PAYOUT per TH/s
      ===============

      14.01.18 0.00014967

      24.01.18 0.00011318

      25.01.18 0.00012439

      26.01.18 0.00011007

      27.01.18 0.0000921

      28.01.18 0.00009747

      29.01.18 0.00009798

      30.01.18 0.00010277

      31.01.18 0.00009427

      On 14Jan2018 I had got 0.00014967 which has fallen to 0.00009427 on 31Jan2018. This is SHEER CHEATING.

      Look at the recent PETTY MEAGRE payouts:

      04.02.18 0.0001002

      05.02.18 0.00010583

      06.02.18 0.0001097

      07.02.18 0.00010777

      08.02.18 0.00009962

      09.02.18 0.00008932

      10.02.18 0.00009174

      01.04.18 0.00006665

      10.04.18 0.00006957

      02.05.2018 0.00006693

      This data will be the criteria for my future investments with Hashflare.

      Infact – This will be the criteria for each and every customer for future investments with Hashflare.

  9. K.A

    i “invested” ~0.0052 BTC in hashpower at Hashflare.io about 6 hours ago and got nothing but a message that the transaction has been timed out, i have proof that the target adress was right ect.
    its simply the fact that they just took my BTC’s and dont respond to any email, nor do i see “hashpower” in my dashboard,i rather tend to call them a scam. Fortunally i invested only little money first to “test” them and my doubts about “eastern” especially “Russian” area about trustworthness are proofen right once more.DO NOT DEAL WITH THESE
    They are more likely a scammer than anything else, also because of the status of a payment goes to “timed out” after “pending” since hours and after that you recieve nothing, why it is timed out why not still “pending” ? the reason is fraud,scam,betray , you name it

  10. Ricardo Jackson

    Wow I see a lot of beginners here. First all hashflare is far from a scam. One of the very first cloud mining to start. I been with them for at least 2 and a half years no problems and consistent payouts. If your TH/s is below maybe 10-14. Then just stop unless you plan on investing more. The difficulty is too high for you to make a ROI off of low hashrate. Especially with the year contracts. Also your forecast is not what you will be making in real time its a rough estimate. The minimum has been raised because the people that do have low hashrate would lose almost all of what they earned. Raising it to .05 ensures you won’t lose too much in fees. Support could be better but it’s kind of unexpected when everyone flooded the scene throughout Nov-Dec. Also for people not following hashflare is prepping for an overhaul to the site this year. Hopefully it comes with better support management and fixes a lot of issues people are having. People act like hashflare had these issues forever when they haven’t. So just chill and be patient and be thankful you don’t have to do your own mining.

    • aestive

      I cannot follow you. If you cannot make money with 10 TH/s, why do you expect to make money with 100 or 1000 TH/s? To calculate how much money you make with 100 or 1000 TH/s you only multiple what you make with 10 TH/s by 10 and 100 respectively. So if you are losing money with 10-14 TH/s then your loss will be 10 or 100 times with 100 or 1000TH/s.

  11. Jon

    My ROI has diminished by 25% within 1 month. This is incredibly alarming. The projected forecast for the 30TH/s I got was initially 1.6 BTC in a year. In a matter of weeks it’s down to 1.15. As an above reviewer also wrote, changing the pools seems to accomplish nothing. At the rate the ROI is shrinking, I feel I’ll be lucky to break even.

      • Ed

        zfoukal, increased difficulty will reduce ROI, since hash will generate less revenue over time. Jon, Google “bitcoin difficulty chart” and select the first result for a good picture of what’s going on. A lot of people are getting into mining right now, which is in turn diluting the value of TH/s. I started mining at Hashflare in August. My daily revenue is now half of what it was when I first started there. I’m lucky that I already got my original investment back. On the plus side, the increased difficulty will be offset if the value of Bitcoin keeps going up.

    • ldibart

      Mine too they gouged my return real bad as well . they are going to take off more than likely .they are running an add invest 300 dollars receive a 4% discount on btc cloundmining ..now remembering withdrawals are .05 and a contract lasts a year ..how is someone going to get their funds back?

    • Kamal M

      REFUND BALANCE CONTRACT FEE
      ===========================
      JUST NOT to refund balance contract fee, FRAUD HASHFLARE.IO have done resumption of SHA-256 contracts. They must refund balance contract fee from 10th June. This again shows hashflare.io are scamsters. Payouts were not even doing the break even otherwise. I will publish this at all possible forums otherwise also you guys have become very famous as scamsters. Now you should refund the balance contract fee and resuming operations is just another EYEWASH.

      I had purchased hashflare contracts at WHOPPING 220 USD per TH/s in end of January 2018. Payouts had been declining on daily basis while other websites have been paying as per old volumes.

      From 10th June, hashflare.io have stopped paying what you used to pay as a formality too. I am exteremely happy to know that Mining Service of SHA-256 Contracts has ended w.e.f. 20 July 2018.

      I have requested hashflare.io to REFUND my BALANCE CONTRACT FEE, from 10th june to the last day of various contracts I had purchased. They are not responding.

      Great post! Full Hashflare Review here! scamorno.com/Hashflare-Review-2018/?id=scambitcoin

  12. Viktor

    What you write here is crap. I bought 28THs and in 3 weeks I sent in my wallet 0.088Btc. Yes you can only send from 0.05BTC and above, but whoever understands how mining works and knows how high the BTC network charges can not wait to be rich in 50USD. But I’m saying one, let the negative reviews write whoever really tried it and not just insinuations. if anyone needs proof, let me write.

    • ldibart

      A major POINT and one you glossed over because YOUR hash rate will be fine
      PLEASE tell me, how can anyone see a return on 300 dollars??? if a noob invests only 300 which is the investment start for a four percent discount and thats on their twitter feed BTW

      .. now irrespective of the WHY we can only withdraw .05 ,they will NEVER reach that withdrawal because difficulty increases and their contracts will be voided by then ..ALSO freewallet can be used just like minergate uses to withdraw from hashflare FREE!! and from free wallet they charge less and the withdraws work!

      there is NO excuse for this BS … you making up excuses for them ,,truly you have no talking rights you invested for 28ths you can withdraw , others cannot so really your only logical reply to THIS is they can either invest more money than 300 ..or they need to invest at least a grand ..to make the payout before they lose their investments and THIS IS NOT BEING SAID!

  13. pierre bernardi

    I have used Hashflare for more than 1.5 months and so far the payouts are following my initial forecast. ROI on one year is 400%, could lower to 300% according to the difficulty of hashrate.
    But this cloud mining is legit, no doubt about it. I already got back 50% of my initial investment in 1.5 month. I will be breakeven in another 1.5 month.
    I have a written a blog with some advice, screenshot and explanation, check hashflare-review.com

  14. Levent

    I am using Hashflare since December 2017. At the beginning everything was going well. Then I have started to face some problems.
    1. They have increased each day the maintenance fee. It was 13.52% then it has reached up to 25.8% which is too high.
    2. Each time I have changes to get better hash rate efficiency, I have end up with lower Hach Rate %. Which is not understandable. I have analysied each pool performance to get better rate but it allways end up with worse.
    3. I have made wire transfer at January 2nd. 2018. After waiting long time to get additional Hashrate, I did not get anything. I have written several e mails to get fixed the problem. Until today it is not solved. The wire transfer has been done. I did not get any hashrate and no money pay bach as well. And the worse thing I did not get any clear explanation what is going on too.
    So, there are what I have faced with with Hashflare.
    Under this experience, I would recomend to be far away from this mining facility.

  15. Baris Aydin

    I do not recommend to invest Hashflare right now. I have 2 different investment there but I am really worried about it. They are not trusted at all and it is going to worse. Minimum withdraw limit is 0.05 BTC which is stable right now. The referral program is a mess. They do not pay your bonus payment. Probably, they keep all bonuses themselves. I think they are going to exit and working on that right now. I think you can find better cloud mining providers if you do a basic search.

  16. nikk

    Payout increased, just set 100% antpool ! Just ordered 10TH/s more, I am expecting a return of investment in 2 and half months and the next 9 and half months will be 100% pure profit,

    sign up with my link and get 10% OFF

    [affiliate link removed]

  17. AutimmBunny

    hashflare is no scam, idk what yal people are thinking but you need to rethink it.. I have been with hashflare for 1 hole year and their service is well beyond the best. its cheap to buy 1 th. and you do make back your roi. and if you don’t they mine your money back that’s excellent service. just because you fell in the category of not profiting and having to wait to get your funds back via mining does not mean they are a bad company.

  18. Case V

    CV
    Just signed up a couple days ago and paid with BTC. Had my hash rate show within 45 minutes and got my first returns within 24 hours. But I guess only time will tell, also not going to leave a link because that does look scamy as hell.

    • Bill

      Yes it’s a SCAM unless you got in years ago. If you use their re-investment option, it can go in as a pre-order without notice and you are waiting months for another small amount of re-investment to go in. If you buy more processing power, without notice they can hold your money for months as a pre-order. Stay far far away, just buy BTC directly and hodl.

  19. Chad

    Yeah…..I tried getting some hashrate 3 times. All 3 times rejected and timed out with no funds being returned. And of course no response to my numerous emails, I got scammed. Why did I try 3 times? Cause I was clearly living in a fantasy land thinking I could get thousands from a few hundred. You live and you learn. I got got, good thing I didn’t spend more than what I could afford to loose.

    • TK

      Hashflare customer support reach out to me after a week and added my HashRate I paied for ($147). They explained that my fees were incorrectly calculated by me and they have to manually process it. So far So good. Payouts are daily but withdraws of BTC were raised due to large volume of small transactions.

  20. John

    I’ve been using Hashflare for 6 months and have nothing but praise for it. The ROI is brilliant. The best way to make some money for you future is to reinvest your profits and let it do it’s thing for a long term. I started with an investment of $50 and it doubled within the first 40 days. I started reinvesting my mined BTC’s which provided me with a high return. 6 months in, I’m making more than $200 a month.

    Use my link for a bonus payout: [affiliate link removed]

    • Bill

      Wrong John, re-investments do not get credited right away, it’s a new contract with a future start date. Your small re-investment might not get activated for 3+ months!

      • Robert

        You are so wrong Bill

        Ive been mining with Hashflare since 20 November 2017 and when you reinvested Hashflare increases your hash power instantly. The future date is the next day, yes, the mining contarct has a start and end date and yes you don’t get the pay out since the pay out is converted into additional has rate which returns is combined with your overall payout.

        Think before you post

  21. yeong Liang

    People who say it’s a scam don’t know enough about mining and enter into mining with low amounts of money thereby getting low return which they can’t compound regularly and thus due to increases in difficulty they hardly get break even on their investment. Check the website below it breaks it down for you how you should invest to make good ROI on your investment.

    [link removed]

    • Raymond

      I put in $1500 via Bitcoins. The payment was accepted within 2 hours. Its now 21 days further and my order is still on PENDING. I had one response from their support, 10 days after payment. They stated that everything looks fine. So now I have reopened the ticket. Each time it takes 10 days before they respond. I wish I had placed it in Bitconnect, what I have there is working perfect.

  22. Candice

    I have been using Hashflare to mine for a couple of weeks now. The service is as advertised and the mining is real and works great. You get daily payouts and is a good investment. Use this link to get your discount on the new contracts: [affiliate link removed]

  23. Mario

    Hey guys! Cryptocurrencies are the future, and the future is approaching fast! Stay ahead of the game by investing in a cloud mining site that allows you to make a ROI, PLUS participate in the crazy gain in value seen in cryptocurrencies, as payouts are in BTC. Current return on investment around 1 to 3 months, but make sure to sign up using the link below for 10% faster recovery! (copy/paste into your URL)
    [removed]
    Get mining today!

  24. Keith

    Just joined hashflare this morning.
    Not impressed at all.
    No responses from support, just that same one about having 20,000 emails to go through.

    Went and set the pool up, set/save and no where close to what i had entered.

    “You need more proof of the scam? Buy a hashrate before end of the day, an hour later u get 1 day worth of mining payment, while u have been mining for less than 1 hour. Example – in 1 hour of mining on your first day of contract, you will get paid approx 0.0004 btc for 2.5TH contract.”

    Joined it this morning and not indication at all that it is really running.

    As some one stated up there ‘Not really a ponze, but something else”
    I’ll agree with that. But what is that something else?

    That guy on yourbube i watched about about hashflare was pushing his commission link in the review.
    That seemed really out of place.

    Should have listened to myself on that before i got in.

      • Ed

        There’s not much to do after you allocate your pool. There is a process each day that updates accounts with daily earnings. Basically, check back at the end of tomorrow to see an update.

    • Ed

      Good question about what the “something else” really is. I was just concerned and frustrated that Hashflare converted my unlimited contracts to 1 year contracts, and I was speculating about why they would have done this. I was guessing they intend to use customers like me to pay for equipment, let me use the equipment to recoup my cost and make a profit for 1 year, and after that it’s almost all profit for them.

    • Ed

      Couple of additional comments…

      I agree that Hashflare’s support isn’t very good. I also find this to be the case with other mining companies and exchanges, like Genesis-Mining.com, Coinbase, and Bittrex. I’ve discussed this with several friends who report similar experiences, and we are all guessing that most crypto related companies are simply swamped with the overwhelming demand for these services.

      I also agree that providing a commission link in a review is a conflict of interest and a bit unethical.

  25. simonuw

    Be aware of new mining company, almost all are scam. Also who promise super high earn is pretty sure a scam.

    Personally, I’m mining with Genesis Mining and Hashflare; they born in 2013 and have a solid company behind.
    Hasflare still sell BTC contracts and works good.
    If you want to join in cloud mining I suggest to use the code below during purchase to get the discount and follow the link for registration (all discount codes you find give the same discount % amount).

    [removed]

    note:
    I noticed that by paying with credit card there is a 14 days “account hold” before to start withdraw. This because HashFlare need to be sure to receive the payment. Paying with BTC lets start withdraw immediately.

    Hope this help!
    Happy Mining! 🙂

  26. Mr. FRANK

    OK, So now I getting really PISSED! WTF HASHFLARE -WHERE’S MY MONEY!!!! Purchases 30TH on 16 December 2017 – PAID YOU IN BITCOIN – Here it is 10 days later and all i got is – WE ARE BACK LOGGED????? BULLSH*T. All my other Bitcoin investments are paying me DAILY!!! SlushPOOL, NICEHASH, Mining POOL HUB, GETTING PAID EVERYDAY. Meanwhile YOU ASSH*LES ARE COSTING ME MONEY AND MY INVESTMENT THAT I CAN’T AFFORD TO NOT BE GETTING A RETURN ON! I WILL DESTROY YOU IN BATTLE – SO HELP ME, I WILL MAKE IT MY LIFES MISSION TO DESTROY YOU SO HELP ME [email protected][email protected]!!!!! TRY ME ASSH*LES!!!!!! Stand the F*UK BY FOR COPY AND PAST MF!!!!!!!!!!

    • Ed

      Interesting list of mining sites. Can’t tell if you’re just trying to promote them or if you really are just trying to use this as a forum to convince Hashflare to help you. Maybe both? Either way, it is pretty interesting that your BTC payment hasn’t reached Hashflare yet. Did you get any sort of transaction ID that you can lookup on Blockchain.info?

  27. ZDENEK FOUKAL

    Even after recent price increase (BTC for $220/TH) still most profitable option out there with trustworthy name, even better than Antminer. Count with electricity fees and incl. withdrawal fee mark down something around 14-18% from profit shown on Dashboard. Contract valid only 1 year. Reinvest earnings into more hashpower, again valid 1 year. Simple and easy FAQ on their site will lead you through. All depends on actual BTC price.

    I can send you calculator on how much will you get by days ahead, write me [email removed], same for 10% discount link.

  28. Storm

    Hello,

    I’ve been using hashflare for a few months now and I’ve decided to share my input here. The SHA-256 (BTC) mining contracts are by far the most profitable mining contracts they offer. The standard rate per Th/s of mining power is normally $150 USD, but as the stock is running low, they’ve increased the price per Th/s of mining power to $220 USD. Though it may seem high, it’s still low compared to the great value you get out of the hashing power.

    If you were, for example, to purchase 10 Th/s of mining power for $2,200 USD, you would be making about $6,000 a year (as of the time of posting this). That’s about 3x return on your initial investment. Even if the price of Bitcoin dropped to $7,500 you would still be profitable with your mining contract(s). What’s fantastic is that you can even automatically reinvest your BTC earnings (through a setting on the dashboard). This allows you to profit exponentially. NOTE: Manually reinvesting is recommended, as it ensures that a new contract is created.

    Mining contracts used to be lifetime, but have been reduced to a year’s length. It is shorter than some competitors, but it’s certainly more than enough to become profitable on your initial investment. Currently the MOST PROFITABLE way to mine Bitcoin from hashflare is to reinvest your earnings every single day for 190 days. After day 190, withdraw your earnings every other day, and reinvest your earnings on the other days. This allows you to continue to compound your hashing power, while securing your initial investment and gaining pure, guaranteed profit.

    Positive aspects of Hashflare’s Cloud Cryptocurrency Mining Service:
    – Fair Maintenance Fee: 0.0035 $ / 10 GH/s / 24h
    – Only A Maintenance Fee For Bitcoin And Litecoin
    – Automatic Reinvestments
    – 10% Commission From Referrals
    – Fair Price Per Th/s ($150 Standard But $220 When Stock Is Low)
    – Mine Multiple Cryptocurrencies (Bitcoin, Litecoin, Ethereum, Zcash, & Dash)
    – Mining Pool Customization
    – VERY Low Purchase Minimum Of $1.50 For 10 Gh/s ($2.20 When Stock Is Low)

    Negative aspects of Hashflare’s Cloud Cryptocurrency Mining Service:
    – Maintenance Fees Could Be Lower
    – Commission Fee For Wire Transfers
    – Referral Commission Could Be Better
    – No Mining Power Exchanging Between Cryptocurrencies

    Overall consensus: 5/5

    Hashflare is a fantastic and reputable cryptocurrency cloud-mining service provider, and it’s highly recommended that you at least try them out.

    ***If you sign up with this link: [affiliate link removed] You’ll then be eligible to use the 3% off coupon below!****
    ***After signing up with the link above, use coupon code: [removed] at checkout to receive 3% off of your order(s)!***
    NOTE: If you don’t use the link above, the coupon will not work! The coupon has limited uses, so hurry up before it’s no longer eligible for use!

    I hope you all consider at least giving Hashflare a try.

    Thank you very much,
    ~Storm

    • red

      Hi Storm,

      I tried HashFlare by purchasing 10TH/s for $1500-00 last week.
      Within two hours my payment via Bitcoins was approved.
      Until now I’m still waiting for my purchase to be processed, status is currently still on “Pending”.
      They were quick to take my Bitcoinm payment but seam to be reluctant to give me my purchased product.

      I’m hoping every day that it will still be corrected. I’m giving them until the end of 2017, if there has still been no change I’ll use twitter to ensure more people don’t get burt like I might be.

    • Ed

      Hi Storm, I thought everything you had to share was interesting until the affiliate link – it seems to discredit what you are saying and make it look like a sales pitch.

  29. doitnowplease

    hashflare is a scam the supposed ROI for a year is a lie. I started over two-three years ago and they started sneaking large fees and then paying out (in the system not to be able to withdraw) smaller amounts so that the fees can eat up any amount that I have + extra. You’ll never meet the minimum because the fees will always be higher than their supposed “payment to you”. Total scam and total lie. I started with over 90,000 sat balance and ended with a 4,000 sat balance. Right because that makes sense. I only put in a few dollars just to see how it worked but glad it was only a few bucks. Still that was when btc was around 250-300 and I didn’t trust any of these cloud mining scams. So glad I didn’t risk more but I wanted to see how it worked. Don’t put in $800 or $ 1500 etc you’ll just get ripped off. Forget this you’d make more collecting on a faucet!lol

  30. k l

    I have only nice things to say about Hashflare so if you think of joining please use my referral code so we both benefit from this: [affiliate link removed]

  31. Jose

    Be careful

    They are switching the min ETH pay from 0.001 to 0.1 I guess 5 ETH is next…fine is your a bigger investor…but not fair with smaller guys who trusted then.

    “As the workload required to complete the payouts is significantly higher right now, the process now runs from 00:00 to 13:00 UTC.”

    “Alberto Y Acuna, 9. December 2017
    I have 0.00443109 BTC to withdrawall
    Theirs said minimun to withdrawall is 0.0115
    When click on withdrawall Read: No enough funds
    Ridiculus. The amount to withdrawall is much more that the minimun
    This is a SCAM. Theirs not answer the Tickets and no give a solution”

  32. isra

    My big question is this… how come Hashflare hasn’t ran out of hash power? every cloud mining company out there already ran out. even if you say Hashcoin can dishout mining equipment on a regular basis. with Hashflare’s reinvest feature and new members, I can’t think of a way they can keepup.

    Second question… I agree with the article. where’s the farm? the pictures released on their instagram is not convincing enough.

    • Ed

      The Wikipedia article on Hashflare says they are in Estonia, so maybe that’s where the farm is located. Hashflare is struggling to keep up with supply and demand, just like everyone else, which is why they continue raising rates. They do manufacturer the mining equipment themselves, so perhaps that’s helping them remain competitive in the market.

  33. Red

    Three days ago purchased 10 TH/s SHA. Payment done via Bitcoins which was confirmed within 2 hours, however the purchase status at Hashflare is still on “Pending”. Support indicates that it will take 10 days before they are able to look into the matter since they have a backlog of 18000 emails.

    Looks like this was my first bad crypto investment. I did not look into the company and just trusted Crypto Nick choice. Also invested at Bitconnect and that works just fine.
    Lets hope they’re able to fix my issue befoe the end of the year.
    If I would have purchased the hashflare today I would have been able to get 12 TH/s SHA, so I’m losing out every day. I’ll give an update at the end of the year.

  34. MickC

    Never had a problem and I’ve been mining a Year now, even written a guide!

    I’ve been mining all year with reinvestment and after Xmas will start to take profit in BTC. Was thinking of buying Antminers but the equivalent cost, hassle and setup and security just didn’t compare.

    Have written a guide to cloud mining on Hashflare, my first one after friends kept asking me how to do it, if you want a copy just get in touch via email and I’ll send a copy. [email removed]

  35. clancy woodward

    Hey guys! Cryptocurrencies are the future, and the future is approaching fast! stay ahead of the game by investing in a cloud mining site that allows you to make a ROI, PLUS participate in the crazy gain in value seen in cryptocurrencies, as payouts are in BTC. Current return on investment around 3 months, but make sure to sign up using the link below for 10% faster recovery! (copy/paste into your URL)
    [affiliate link removed]
    Get mining today!

  36. jeremy

    Have to give them a 5 star review, first site that hasn’t scammed. I love that they let you see the panel before buying contracts as well. Super clean, easy, and profitable.
    Get 30% deposit bonus (Christmas bonus) by registering here:
    [affiliate link removed]

  37. Alex

    I put in total 20TH/s in Hashflare and have been earning projected earning smoothly so far.
    This November 2017 I earned around $1130 USD PER MOUNTH.
    Breaks-even in 80 days almost 3 month then will be pure proffit.
    Recommended and trusted 100%
    To register: [affiliate link removed]

    • Ed

      Zorro didn’t convince me that hashflare is a scam. All he did was show that payouts are based on membership, not on duration of membership, since you get full credit for the first day you sign up.

      Hashflare is working fine for me paying out profits each day. The only problem I have had transferring the money out is delays in bitcoin mempool.

      Also, genesis mining is working well for me.

      • Damian

        Hi Ed, did you already withdraw some BTCs out from Hashflare?
        If that’s the case can you show a screenshot or something?
        Thanks!

        • Ed

          Yes, I have been able to withdraw BTCs out of Hashflare several times. The money would arrive on in my Coinbase wallet pretty quickly when I first signed up. The transactions started taking up to a week when the exchange they use was having problems. This most recent withdraw took about an hour.

          Screenshot of the most recent withdraw: edlazor.com/tmp/2018-01-05_withdraw_screenshot.png

  38. Zorro

    You need more proof of the scam? Buy a hashrate before end of the day, an hour later u get 1 day worth of mining payment, while u have been mining for less than 1 hour. Example – in 1 hour of mining on your first day of contract, you will get paid approx 0.0004 btc for 2.5TH contract. That amount u will get if u have been mining 24hrs not 1 hour. But they want to keep u happy…until they dont care anymore. You are subsidising their hardware, they make money, u break even. Who is the fool here?

  39. Zorro

    It is a ponzi scheme. It requires new investors to pay for the old ones, and hence the termination of contracts and the changes. Terminate legal contract without compensations – SCAM.

  40. Ed

    This isn’t a PONZI scheme, it’s something else.

    A PONZI scheme requires that new investors pay dividends to older investors, and the entire system breaks down when there aren’t enough new investors to sustain the old investors. PONZI scheme architects are confidence builders and they will do or say anything to convince you to invest. Everything collapses when investors lose confidence and stop buying into the scheme. Hashflare is obviously not building confidence, so what are they doing if this isn’t a PONZI scheme?

    Hashflare is building a mining operation for themselves.

    Think about this from Hashflare’s perspective. If you buy the equipment, I’ll host it and set everything up, and we will share the profits. You’ll get a great return on your investment for one year. Once that year is up though, I own everything and I get all of the profits from that point forward.

    That’s a sweet deal for Hashflare. I’m sure they are setting up this arrangement with as many people as they can. I’m sure they are going to make a lot of money.

    In fairness, customers are going to make good money also. A one year ROI of 15% to 20% is considered high. Hashflare customers are seeing an ROI of 100% to 150% in that time period. That seems like a pretty good deal. Yes, I am a Hashflare customer. And yes, I am experiencing this ROI.

    Also in fairness, yes, I am sorely disappointed they changed their contracts, including ones I had already purchased. They didn’t do anything illegal though, because the old contract did allow them to make whatever changes to the contract they wanted.

    I would be extremely happy if brought back unlimited contracts and restored my existing contracts to unlimited. After all, I want to make a lot of money. I can’t blame them for what they are doing though. It just means that I have to buy unlimited contracts elsewhere.

    • Michael Palmeter

      What you are saying may be correct, but I don’t see support for it in the data I have. An Antminer S9 (popular, cost effective bitcoin mining server) costs about $1,900 delivered on ltdmining.com and does 14TH/s. Buying 14TH/s capacity for 1 year on Hashflare costs $2,100. If your theory is correct, I think that their hardware costs for 13.5TH/s must be about 50% of US retail. A kWh in Estonia currently costs about $.15, so if you look at a fair cost breakdown with those numbers (coinwarz.com/calculators/bitcoin-mining-calculator/?h=14000.00&p=1375.00&pc=0.15&pf=0.20&d=1590896927258.08000000&r=12.50000000&er=17256.01000000&hc=1900.00) yo can see that there is a lot of room for them to raise prices, which I suspect they will do. I wouldn’t be surprised if they are currently pouring capital into expansion – hardware, facilities, etc. Once they have that new surge in capacity online they’ll increase prices to maximize their returns from the crypto boom that we’re experiencing. I would also guess that they are keeping prices where they are today to build demand and draw in more capital that they can use to fund expansion. I’m not sure how their user contracts look, but it seems to me that they could be anticipating revenue from those investments to cover withdrawals once they are able to start processing them. I wouldn’t guess that there is any malice here, necessarily. I would rather think that they are just being very aggressive with their business at the moment. Marketing and AR/PR don’t seem to be where they are making major investments right now. If they are smart, that will be what they funnel the increased revenue from the price increase.

      Of course all of this is completely idle speculation and I have no information about any of this other than what I referenced here. I’m just thinking about how I’ve seen these things go with other similar companies I’ve invested in in the past.

      • Ed

        Hi Michael,
        Sorry for the slow response, but I really like your thoughtful comment. Everything you’re saying makes perfect sense, I completely agree with you. Have you invested in hardware or just cloud-based mining?
        -Ed

  41. Screwed By Hashflare

    Yup. Something is fishy… Depletion rates over 20% each month. Once I went in large my return per TH dropped massively. Fee % increases when bitcoin price goes down. Fees over 30%. If you invest in this company you will NEVER breakeven…

    Below from their website today, min withdrawal raised quite high for some bogus reason. Constantly see messages about delays on sending bitcoin, etc:

    Update 08.11.2017 13:15:00 UTC:
    Withdrawals are enabled, however, the minimum withdrawal amounts have been temporarily increased for monitoring purposes. We estimate this to be reverted within the next few days.
    The temporary amounts are currently:
    Bitcoin: 0.1 BTC
    Ethereum: 2.5 ETH
    Dash: 1.5 DASH
    ZEC: 1.5 ZEC

    Thank you for choosing HashFlare!

  42. Elliander Eldridge

    oh, I found PROOF that they are running a scam! I compared the minimums that I am getting to that of my associates, and to the terms in their own help pages.

    Firstly, let’s take a look at the mining reward between two different customers of theirs per 1 TH/s SHA:

    This is mine: drive.google.com/open?id=1nMcs19-6P5KtUM-LoKO5BHwQaesFMC9_

    This is hers: drive.google.com/open?id=16LMhgPIYkcdj7XjImdZQo2_FVXy9oJj-

    Both of us had the exact same pool distribution, but through each day there was variance in earnings. If they were running all hardware as a cloud pool, and then taking percentages onto another mining pool according to user preference, this variation shouldn’t exist. Alongside the fact that the earnings they report here do not coincide with what is displayed in the mining pool records and it’s fairly obvious that different customers get different hashrate, which goes along with the observations many have had that complaining results in a dramatic loss of hashrate. If this were a ponzi scheme they would be more interested in keeping those with more to invest happier, and in our scenario the customer who invested the most has the highest hashrate per TH, meaning more overall profitability.

    Now, let’s look at minimum withdrawals. This is their minimum withdrawal policy:

    drive.google.com/open?id=15ZR05W_949fPJR12_wNOHp1kR0UfZSNX

    However, a “system message” indicating a “temporary problem” significantly raised this. In my case, in my case, it’s now 0.2 BTC minimum as you can see here:

    drive.google.com/open?id=1FpKs4mB143omRHo9GIAc13V34VgS1M2w

    Which, given how much I am getting from my no longer unlimited contract means that I will NEVER get paid ANYTHING more IF they stick to this. In her case, her minimum is now 0.1 BTC, but she invested twice as much as I did so she’ll be able to cash out in, maybe, 3 months.

    drive.google.com/open?id=1tkN9r0EE7bZ_0K45bt1oBMDPY0F41r6x

    Even if they do backpedal on this, it shows very clearly that system messages are not site wide. Their system targets individual customers to give completely different messages based on how much they invested and how recently. This means a new customer might actually have no problems withdrawing and see high returns – for a while – but an older customer who has not given them money in a while will see returns dwindle as minimums and fees skyrocket.

    Naturally, I cropped the names out of each record because I fully expect them to hit our accounts if I didn’t. Looking at fees I am similarly seeing a contradiction, but I can’t show that without identifying the accounts in question.

    In any case, having been a victim of a Ponzi scheme before, I can say now with absolutely certainty that this is one. There is no other explanation for this level of variation between even 2 accounts.

    • Jonne

      Hi Elliander, it’s now a month later and I was wondering how your situation has developed.. Did they change the minimum withdrawal amount already?

      Also I compared the charts and it actually looks like you and your friend had the exact same return rate day to day (it’s a bit hard to tell because yours starts on the 2nd and hers on the 3rd). I do agree that’s it’s really weird that the minimum withdrawals were different for you and your friend…

      Wishing you the best of luck!

    • Ed

      Elliander, could you update your mining reward comparison to look at earnings from both accounts on the same date? Right now it is showing data from 1-11-17 and 2-11-17, and I would not expect the earnings to be the same since mining performance fluctuates daily.

    • Ed

      Elliander, would it help ease your concerns if I told you that the fees you’re referring to don’t go to Hashflare?

      Bitcoin (not Hashflare) requires a fee, a commission paid to miners for processing the transaction, every time you move money from one wallet to another, like moving your money from Hashflare to Coinbase. Hashflare just simplifies the process for people who don’t know how much to put for commissions by setting it automatically to 0.0007 BTC.

      Would it also help ease your concerns knowing that costs are reduced when setting a flat commission and minimum withdrawal amount? The highest fee you will pay is 6.54% of the transaction when the mining commission is 0.0007 BTC and the minimum withdrawal amount is 0.0107 BTC.

      (0.0007 / 0.0107) * 100 = 6.54%

      Increasing the commission or reducing the minimum withdrawal amount just increases the percentage of fees being paid on the transaction. I’ll give two examples.

      Example 1: increasing the commission to 0.01 BTC increases the fee to 94% of the transaction.

      (0.01 / 0.0107) * 100 = 94%

      Example 2: decreasing the minimum withdrawal amount to 0.0009 BTC increases the fee to 77.77% of the transaction.

      (0.0007 / 0.0009) * 100 = 77.77%

    • Ed

      Elliander, while Hashflare sets an automatic commission of 0.0007 BTC, some sites allow you to specify whatever you want for the mining commission. This allows you to increase the priority of your transaction in the Bitcoin Mempool and move your money more quickly from one wallet to another. Sometimes I wish Hashflare would let me pay for commissions, because the Mempool has been getting large lately with the popularity of Bitcoin rising so quickly, but I also appreciate how they are helping me keep costs down.

  43. Elliander Eldridge

    I also had bad timing. Back when Bitcoincloudservices was still around I had a long term “profitable ” experience, then decided to invest a larger amount than usual because the wiring in my house made it difficult to continuously run physical miners and the ROI seems fair. That was in the thousands, and I invested so much at once that I literally depended on a week or two of at least half value payments to make ends meet. I got a total of 3 days of payments, then nothing. Then they ran with everything. I ended up providing all information I could to law enforcement in the uk, which wasn’t easy since I’m in America.

    I only decided to give hashflare.io a chance because their parent company produced hardware which increased my confidence. Additionally, I figured that even if it was a Ponzi scheme, it was early enough in operation to be reasonably safe. Still, I was more cautious. I invested a large amount up-front, but then did not invest anything more out of pocket. Instead, I did a mix of reinvestment from earnings and cashing out, so I technically made a profit here, and continued to make a good profit for a good 2 years. Quite a good one, actually, but that’s more a credit to Bitcoin itself. Right now? Well, with their new minimums it will take me nearly 3 months to cash out anything more – assuming they continue to exist at all – not to mention an actual impossibility to invest anything less than that at the tail end of the “unlimited” contract that expires in August of next week – assuming they don’t change the terms on that again.

    Had I never invested in any cloud mining company and invested in Bitcoin itself I’d be a millionaire right now. That’s just how bad it is. Even if I just took a few thousand to upgrade the wiring in my house, and buy a battery backup, then run miners all on my own I’d have seen more gains that I’d have full permanent control over.

    I will never “invest” in a cloud mining operation ever again. Even if I had physical proof of real hardware I’d have no way of knowing if that’s being used for me or not. For example, maybe a company running a Ponzi scheme buys miners for it’s own long term interests to both act as a buffer for when the scam is starting to fail (as they all eventually do) and because REAL mining is ACTUALLY profitable, but then pocketing the profits. Then there’s always the possibility the company will fail for other reasons taking the money with them.

  44. Elliander Eldridge

    Oh, it gets even worse. The main warning signs of a ponzi scheme about to run with the money is a delay in making payments followed by an increase in the minimum payment that can be made. Well, now it takes 2 to 3 days to withdrawal, which they blame on a third party. That’s what Bitcoincloudsergices did before they stole some $15k min investments from me and more from my associates before ROI could be reached. Now there is a minimum withdrawal of a tenth of a Bitcoin, which means some people will have to wait months and others will NEVER get paid. For anyone making a new investment? Well, even if the Bitcoin price continues to rise to a level that would be profitable, unless you invest a minimum of $800 you will never see a penny of that because you will never earn enough Bitcoin to cash out.

    Even if by some miracle they are not running a Ponzi scheme, and just made multiple bad business choices, the situation still is not good. You literally can’t withdrawal and even if you could the lawsuits would bleed them dry.

  45. Simtha

    After depositing money you cannot login to hashflare ever again. Oh, snap! Please make sure that Java Script is enabled and disable any ad blockers

  46. seafarer

    Thank you for this detailed review.

    I like especially the background that you have shown so it is easy to understand why you were coming to this conclusion.

    I was also reviewing about 200 scam reports that were published by many different Scam monitors. So it is always the same scheme the defrauding companies use. And mostly it were PONZI schemes that collapsed after some time or will collapse 100% for sure.

    Until now I never found a company that was operating with faked staff and faked testimonials not being a scam.
    We have to understand that bad people are producing bad companies with bad concepts. Only with the attitude to make money by cheating their customers and affiliates. Mostly the things they suppose to perform / to possess / to claim are nothing but a bluff. The customers and affiliates in the end were paying for their profit with their hard-earned money when the company suddenly got closed. I lost 3 times money within 1 week. The one company was closed during 16 hours after my money transfer. Wrong timing.

    When I’m watching the companies I many times ask myself where are their proofs? Do they have a quarterly or an annual report? If they are a successful company they will be more than proud to provide proofs of their success. But the most companies will not show you any proof so for me they have already the shade of a scam.

    Thank you again for your review. I’m really learning more every day.

    Best regards
    Ingo

    • Elliander Eldridge

      It doesn’t even matter at this point if they are running a ponzi scheme or not. They illegally changed contracts meaning they are open to lawsuits which harms their future outlook and the minimum withdrawal amount is so high that most customers will never get paid back even if it is somehow profitable. They arbitrarily change everything from contracts to fees to minimums. If the stock market did that heads would roll.

    • Kamal M

      Manipulted payouts by hashflare.io from 1st Feb, 2018
      =====================================================

      per 1 TH/s payouts KISSING ZEROs each passing day, for 16 May 2018 its 0.00006315. Even Out of this meagre amount they manipulate 66% in maintenance deductions. Hashflare.io dashboard shows my payout as petty 19.61 USD for 38 TH/s hashing power, I actually got 7 USD today.
      Looks like they r about to abscond??

      I purchased contracts @ 2.20 USD per 10GH/s. Now hashflare has no takers even for .60 or .80 USD per GH/s.

      per 1 TH/s payouts reaching new LOWs everyday, for 8 May 2018 its 0.00005907, hashflare.io has fixed withdrawl limit to 0.05 BTC. Out of this 0.00005907 they manipulate 63% in deductions. Looks like they r about to abscond??

      8 May 2018, hashflare.io dashboard shows my earnings 20.83 USD, I got net 7.70 USD. Instead of 35% maintenance they cheating by deducting whopping 63%.

      2 May 2018, hashflare.io dashboard shows my earnings 23.15 USD, I got net 10 USD. Instead of 35% maintenance they cheating by deducting whopping 65%.

      29 April 2018 I got net 0.00086421 BTC, your payout dashboard shows 0.00226779 BTC. So I got only 38% of payout, 62% payout is EATEN UP/ MANIPULATED by HASHFLARE.io. I DRAINED 7020 USD on hashflare.io as they promised 450% RoI. I will not invest single penny until I get that profit and returns.

      EOBOT has doubled its 5 year contracts to protect its customers, hashflare is corrupt, greedy, manipulative, insensitive and working to make its customers BANKRUPT

      Maintenance for 17Apr 2018 = 64.06% 1d revenue shown on dashboard for today is 24.47 USD. I got huge 8.62 USD NET after you deducted your LUXURY charges. SHAME on you cheap guys. Looks there were no takers for 30% discount at 1.20 per GH/s. I was trapped by you at hefty 2.20 per GH/s. Now 25% discount? even after 30% was discarded by your TRAPPED BANKRUPT CUSTOMERs?? This data will be the criteria for my future investments with Hashflare. Infact – This will be the criteria for each and every customer for future investments with Hashflare.

      PAYOUT per TH/s
      ===============

      14.01.18 0.00014967

      24.01.18 0.00011318

      On 14Jan2018 I had got 0.00014967 which fell to 0.00009427 on 31Jan2018. This is SHEER CHEATING.

      Look at the recent PETTY MEAGRE payouts:

      04.02.18 0.0001002

      05.02.18 0.00010583

      09.02.18 0.00008932

      10.02.18 0.00009174

      01.04.18 0.00006665

      10.04.18 0.00006957

      02.05.18 0.00006693

      Pls see some examples of my maintenance charged since 2 Feb, its UTTER MANIPULATION, CHEAP TACTICS.

      Maintenance for 2Feb 2018 = 37.15%

      Maintenance for 6Feb 2018 = 45.37%

      Maintenance for 9Feb 2018 = 49.10%

      Maintenance for 26Feb 2018 = 44.04%

      Maintenance for 8Mar 2018 = 47.19%

      Maintenance for 10Mar 2018 = 50.00%

      Maintenance for 11Mar 2018 = 52.56%

      Maintenance for 15Mar 2018 = 58.85%

      Maintenance for 16Mar 2018 = 58.67%

      Maintenance for 27Mar 2018 = 64.41%

      Maintenance for 29Mar 2018 = 64.80%

      Maintenance for 30Mar 2018 = 73.85%

      Maintenance for 31Mar 2018 = 69.68%

      Maintenance for 1Apr 2018 = 74.57%

      Maintenance for 2Apr 2018 = 75.44%

      Maintenance for 5Apr 2018 = 78.51%

      Maintenance for 8Apr 2018 = 70.48%

      Maintenance for 15Apr 2018 = 57.70%

      ——————
      My payout for April 14 0.00256317 BTC
      Maintenance for the same day 0.00166872 BTC

      so 0.00166872/0.00256317*100 = 65.10% is the maintenance fee. This is happening for months now?? Can you correct this or you have rsorted to cheap tactics. I have complained about falling payouts many times but no satisfactory / clear / justified reply received.
      —————–

      ——————
      My payout for April 13 0.0026989 BTC
      Maintenance for the same day 0.00168192 BTC

      so 0.00168192/0.0026989*100 = 62.32% is the maintenance fee. This is happening for months now?? Can you correct this or you have rsorted to cheap tactics. I have complained about falling payouts many times but no satisfactory / clear / justified reply received.
      —————–

      On 5th April, 2018 you r showing FAKE revenue forecast of 0.00248009 BTC = 17.01 USD

      my actual payout of today is 0.01091058 BTC after maintenance fee, it becomes USD 5.00

      u guys r becoming CHEAP FRAUDS?? Pls see comments on your reputation below :

      After a steep 50% hike in contract fee, Hashflare payouts have fallen down VERY VERY SHARPLY more than 50% – SHEER LOOT and CHEATING on investors. 35% Maintenance Fee is FIXED, 220 USD per TH/s Contract Fee is FIXED, only this varies OHO NO DECLINES is PAYOUT.

      Payout per TH/s on 14.01.18 was 0.00014967.
      At new Fee 220 USD TH/s and Payouts of 0.00010491 per TH/s dated 3Feb2018, it needs 14.5 months to break even for a 12 month contract.
      1st March Payouts of 0.00007758 per TH/s, everyone would be in losses not even recover the invested money.

      Payouts reduced to almost ZERO after investing 7000USD. Hashflare.io maintenance fee is fixed, contract fee is fixed. Only thing what goes down is PAYOUT. 0.00006665 per TH/s as on 1 April 2018. You can’t even break even in many years for their 1 yr contract.

      Just a few examples are mentioned below PETTY RETURNS PER TH/s:

      PAYOUT per TH/s
      ===============

      14.01.18 0.00014967

      24.01.18 0.00011318

      25.01.18 0.00012439

      26.01.18 0.00011007

      27.01.18 0.0000921

      28.01.18 0.00009747

      29.01.18 0.00009798

      30.01.18 0.00010277

      31.01.18 0.00009427

      On 14Jan2018 I had got 0.00014967 which has fallen to 0.00009427 on 31Jan2018. This is SHEER CHEATING.

      Look at the recent PETTY MEAGRE payouts:

      04.02.18 0.0001002

      05.02.18 0.00010583

      06.02.18 0.0001097

      07.02.18 0.00010777

      08.02.18 0.00009962

      09.02.18 0.00008932

      10.02.18 0.00009174

      01.04.18 0.00006665

      10.04.18 0.00006957

      02.05.2018 0.00006693

      This data will be the criteria for my future investments with Hashflare.

      Infact – This will be the criteria for each and every customer for future investments with Hashflare.

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