Cloud mining service customers collided …

Clients of the cloud mining service faced difficulties due to the growth of the hash rate of the bitcoin network

Buyers of HashFlare mining contracts are unable to withdraw their funds while their contracts are threatened with a temporary stop. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, since, in fact, many of them could not withdraw their funds because of this, however, the service raised the threshold to 0.05 BTC and 0.1 ETH … Writes about this Cryptovest.

Cloud mining has long been considered a type of business bordering on scam due to the unprofitableness of such contracts. In addition, financial pyramids are often promoted under the guise of mining contracts. Within a few months, there was a jump in the hash power of most large cryptocurrency networks, which is why many previously purchased contracts lost profitability.

The reason for blocking HashFlare users’ funds lies in the events of early June, when the growth of the hash rate of the bitcoin network led to the fact that all the money raised from cryptocurrency mining began to go to cover service costs under contracts. Because of this, HashFlare has suspended service of some contracts.

Currently, more and more users who bought contracts at an earlier stage are faced with the fact that they cannot withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

Cloud mining service customers collided ...

Anyone who has purchased HashFlare cloud mining contracts with a credit card can try to get a refund, as one of my followers suggested. He bought the contract at the end of 2017.

Bitcoin’s hash rate has grown from 13 EHash / s at the beginning of the year to over 40 EHash / s in recent months. The feasibility of mining under these conditions depends on the circumstances of the particular miner. The cost of mining bitcoin for some of them is $ 4,400, while others spend about $ 5,800. However, cloud mining in 2018 is called by critics even more dubious activity than before, especially when it comes to mining bitcoin.

Cloud mining service customers collided ...

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