Hashflare Reviews 283

Yes it IS basically a scam. A referral ponzi scheme. Yes there are payouts but you will never get even half what you put in.
Everybody here tells you Hashflare is great because they get 10% kickbacks when you sign up on their referral links.
I'm not willing to throw away my integrity for a few bucks, so here's the truth of it....

I've had an account with HF for 6 months. Mining for LTC and BTC.
(note LTC mining payed out in BTC)
Here's what I can tell you about my experience.

1. Overall, all mining yields have dropped 90% after 3 months, 70% after just one month.
(at this rate my contracts will cease soon, making the changes to "lifetime" contracts irrelevant)

DO NOT ASSUME YIELDS REMAIN THE SAME OR TAPER WITH DIFFICULTY LEVELS. THEY DROP VERY FAST.

2. LTC yields showed NO CHANGE during period where LTC price DOUBLED against BTC for a couple of weeks. In fact yields appear to be nothing more than a pre-defined exponentially decreasing yield curve that have nothing to do with coin prices, difficulty levels etc.

YIELD HAS NOTHING TO DO WITH PRICE

3. Since purchase of contracts when (BTC was in the $2000's) I have recovered 30% of my DOLLARS. Projected maximum return is 40%-50% of my DOLLARS (and that's being optimistic). If I had used the money to purchase coins instead the return would have been 200% - 300%. Dollar returns on HF decreased fast even while BTC and LTC were making big gains. What a joke.

4. Changing lifetime contracts to 1 year is nonsense. It gives the false impression that they'll actually still be paying out after 1 year. Don't believe it! Fact is they can (and will) do whatever it takes to maximize their profits and minimize your return. And if you call them out on these things your yield will drop even faster! Customer's that wise up aren't going to give them more money or more customers so there's no point keeping them happy I guess.

5. It is expensive and takes a long time to make a withdrawal. We have to pay very high BTC transaction fees when we're actually processing these transactions with our own purchased mining power, like... really?

6. When asked about why yield drops so fast and has nothing to do with coin prices or difficulty levels they completely avoid the issue and whinge about the demand, cost and maintenance of hardware.

In fact this entire business model would be quite profitable without any mining going on whatsoever. Who needs to mine when you can just put up a website with some pretty charts, take the money, buy coins and slowly give back a fraction of them over time?

Lastly, if this is the kind of deceit we can expect from the miners that basically drive the entire BTC network, then it doesn't bode well. Appears to me the mining situation for BTC is already so far askew from the original vision that the coin is in danger of losing "decentralized" status.

This scum.. violate our rights!.. leaning on some meaningless excuses.. let's make them give back our money!

Tons of lies: stealing half of withdrawals tx rate, changing contract, changing hashrates

Sold us LIFETIME contracts then changed to ONE year retroactively.....
LIARS

They can change the contract duration at any time (if they want change the duration from 1 year to 1 week, they can do it).
They already did, last month they changed the BTC contract duration from LIFETIME to ONE YEAR...

They can change the contract duration at any time (if they want change the duration from 1 year to 1 week, they can do it).
They already did, last month they changed the BTC contract duration from LIFETIME to ONE YEAR...

They changed lifetime contracts to 1 year.

POS company that lies to customers and changes legally binding contracts.

Change of contract from lifetime to one year

Because of recent contract changing without old customer's agree,
I don't trust them.

Potential customer ~, Don't trust hashflare that don't honour contract with old customer. !!

They have changed existing contracts from lifetime to one year term. Possibly they change the term to ONE MONTH in the near future. Unacceptable.

They used to be on top of the game. Now they're flopping around on the bottom.

They re-neg'd everyone's Lifetime contracts (without agreement) to 1 year stating "lack of hardware availability" And then they suspended further SHA-256 purchases a week later (when they should have done that from the start instead of changing everyone's contracts).

Everything they've done recently stinks of trying to get rid of smaller miners so their friends with big deep pockets can buy the contracts.

To make matters worse they won't even respond to customer inquiries. They continually ignore their customers concerns on the matter. Their silence speaks volumes.

Changed my lifetime plan to one year, and destroyed my pension plan. I'm sure you can't change a contract in the Eu with only one days warning.

They decided to change change the terms of a contract without compensation. We'll see if they can get away with it, but the fact that they even tried means that you should not trust them.

Scam.. don't invest in this company. They sold me a lifetime contract and now they turbed it down to 1 year.. Don't make the same mistake as I did...

Scam! Go to Gennesis Mining insted...

Biggest scammers ever.... They changed the contract terms unilaterally without any compensation. They're greedy now that things are going well. Greed is one of the 7 deadly sins.

they are thieves
Ponzi

I am very happy with how my investment is growing with hashflare, I especially like that I can reinvest my earnings which allows my bitcoin to grow. Plus you can buy for as little as U$2.40 thats of course if you first want to try it out and increase it in time.

On 09/01/2017 Hashflare unilaterally backed out of their lifetime contracts without compensating investors who bought contracts on those terms. If this is not a SCAM - what is?