HashFlare.io Review – HashFlare’s Reputation is Plummeting

Damn, these wastrels most likely never did any mining or very little if that is an actual photo. They set up a pretty website that moved a lot of bitcoin and crypto currency between and from people that bought in with their own cash or crypto. Now they are totally unreachable.

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.

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

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.

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.

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

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!

Scammers.

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.

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

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

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

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.

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.

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.

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

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.

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.

I think it is scam. I bought dash mining plan and I lost all money.

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]

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.

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.

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.

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]

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]

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]

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!

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.

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! 🙂

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 GOD!@!@!!!!! TRY ME ASSH*LES!!!!!! Stand the F*UK BY FOR COPY AND PAST MF!!!!!!!!!!

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.

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

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

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]

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”

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.

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.

this is 100% SCAM. thieves. fuck this company, unprofessional ponzi.

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]

looks like some hashflare fake people also commenting here with affiliate links . fake reviews again… admin please remove

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!

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]

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]

which cloud mining is goon then?? every big cloudmining site are being listed on the scam side.

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?

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.

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.

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!

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.

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.

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.

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

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

hashflare is not a scam