Hashflare is still holding our money!!

Hashflare-stop.png

Dear Steemitians

almost one month ago i made this post https://steemit.com/cryptocurrency/@intellihandling/hashflare-is-making-shit
where i was making some complaint about Hashflare service.
Till 3 months ago, they was the best cloud mining company from all web crypto experts, but from one months they are holding our money without a real reason.
So few days ago i wrote them the following question by email:


Hi

now are already 10 days your Bitcoin mining has been stopped.
Last time i kindly asked to move the hash power from Bitcoin to Ethereum but your answer that it is impossible!
So, due to fact i always believed in you and i always reinvest all mining to hash power but you are stopped to giving the service for which i invest money, so i ask you to refund me the value of bitcoin hash power.

Thank You

And this was Hasflare answer:


Hi,

On 05.06.18 the spike of mining difficulty exceeded 14% (https://bitcoinwisdom.com/bitcoin/difficulty), while the price of Bitcoin continues to decline. Because of this, the payouts are lower than the maintenance fee, which results in the balance not increasing and remaining the same. This means that your balance will neither decrease nor increase. Also, due to the fact that contract payouts are lower than maintenance fees, forecast revenue shows zeros.

According to our Terms of Service, the mining process continues while said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated (Hashrate type specific). During the consecutive 21 day period, Payouts and Fees will also be temporarily stopped. If during the suspension period, the Contract-related mining factors (such as the exchange rate and mining difficulty) that are outside of HashFlare’s control will change favourably, making mining profitable again, the Service will be unsuspended and contracts reactivated.

For the time being, mining has been suspended, but the contracts remain active. In light of this, manual withdrawal requests (if your balance does not meet the minimum withdrawal amount) cannot be fulfilled. A manual withdrawal when a user’s balance is lower than the minimum withdrawal amount can only be performed if the contracts have already expired.

Also, according to our Terms of Service which you have agreed to when registering within our system, all hashrate purchases are final and non-refundable. It is not possible to cancel a contract and request a refund for the remainder of the time that the contract would have still been active for.

Unfortunately, we cannot influence the global factors that form profitability, neither can we take responsibility for it. The main factor that influences mining profitability is mining difficulty, and you can find the publicly available growth chart here and here. Cryptocurrency mining, trading, handling and etc. are generally highly volatile and unpredictable.

All risks are stated in our Terms of Service.

We are considering all possible options, while taking into account the available resources, to optimize the mining process where it is possible.

Thank you for your patience and for staying with us!

Kind regards,

Hasflare.io Support Team


I think this is not professional company behaviour, so i would like to ask the opinion of my friends of Steemit which is full of most expert and wise people than me....

Sort:  

Very unfortunate @intellihandling, that you were caught in the contract squeeze. I mentioned it in my last post about how the current market is affecting cloud contracts. HashFlare is a well known mining company, I hope they work things out for the best for you.

Dear my friend, with my post i just want warn people to use cloud mining, this is really too weak market to invest some money, is better do it by myself...

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They've added a clause into the contract meaning that no mining will happen where it's not profitable for them (they have to cover electricity costs, hardware degradation, etc.). There's not a lot you can do.

Dear @missioncontrol, i agree with you but i asked to move the hash power to Ethereum mining, but they answer me it is impossible, but in Eobot there are no problem to do it, why?

@intellihandling has set 0.500 SBD bounty on this post! logo_for-light-bg_1000.png
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Congratulations to the following winner(s) of the bounty!

  • @mazasuarez has earned 0.095 SBD. 0.095 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @nahela has earned 0.095 SBD. 0.095 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @donald.porter has earned 0.188 SBD. 0.095 SBD from the creator of the bounty and 0.093 SBD from the community!
  • @oclinton has earned 0.002 SBD. 0.000 SBD from the creator of the bounty and 0.002 SBD from the community!
  • @missioncontrol has earned 0.095 SBD. 0.095 SBD from the creator of the bounty and 0.000 SBD from the community!

What good information friend would like to see more information of this kind, greetings!

Dear my friend @mazasuarez, thank you for your comment, i am just upset about this crypto mining business and i am quite sure now that the only way to do it is to do by myself...

I do not know the Hasflare system, but with your post I am clear about several things, starting with mining. I hope you keep bringing more content of this type.

Dear @nahela, unfortunately cloud mining is a black hole, thats why i decided to find another solution...

Thanks for the warning

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Hi @geradunlo, i don't know who you are and you downvote is not a problem for me, but could you let me know why you downvote my post? I think in i am giving true information for all Steemit member, so if you do not like it, please let me know why...

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