What Happened To Our Hashrates On Hashflare? Disabled Or Terminated?

Discussion in 'Bitcoin Investments | Discussions' started by Prezzy, Jul 24, 2018.

  1. Prezzy

    Prezzy Leader Protector

    This is a thoughtful question and i have a sad answer to it.
    Based on my own research, i found out that hashflare has TERMINATED our sha-256 bitcoin mining contracts!

    How do i know it has been terminated?

    have a look at the email they sent to all their users:

    {filename}-What Happened To Our Hashrates On Hashflare? Disabled Or Terminated?
    Dear users!
    As you know, the last few months have been a difficult time for the cryptocurrency market, which has also affected the operation of our service.

    We have made every possible effort in order to resolve the problem that has arisen – for instance, we have considered a variety of technical solutions, which would have allowed us to lower expenses related to maintenance and electricity. However, due to the general instability of the market, the actions we have taken could not significantly influence the current situation.

    For over a month our users encountered a situation when the payouts were lower than the maintenance fees, resulting in zero accruals to the balance. As of 18.07.2018, the payouts were lower than maintenance for 28 consecutive days.

    BTC mining continues being unprofitable, in light of which we would like to inform you that on 18.07.2018 we were forced to start disabling SHA hardware and today, on 20.07.2018, stop the mining service of active SHA-256 contracts in accordance with clause 5.5 of our Terms of Service, which are required to be accepted when creating a purchase and are the basis of concluding the contract.

    We expect that the cryptocurrency market situation will stabilize in the nearest future and we will be able to offer our users new advantageous solutions.

    We will continue to inform you about any changes. Stay tuned for updates!

    HashFlare team

    well, let's highlight some important points from the message they sent.
    in this message, they used the word 'disabled' but they also said something else that is much more hasher than it looks.
    and i just checked the said clause. Here's what it says:
    That says it all guys.
    It has been well over 21 days and we have just kissed our contracts goodbye!


    We can only hope that they change their mind about their decision and call up our contracts again. But we must be frank, that is totally up to them.

    Few weeks ago, Hashing24 disabled contracts that have been unprofitable for 3 days and for which the balance for their maintenace fees were not paid by the holders of the contracts. I happened to be one of those whose contracts were disabled and i really felt bad about it all.

    Imagine my happiness when, a few days later, they provided an option for us to pay for the maintenace fees for the time it was disabled and reclaim our hashrates??? i did just back and my hashrates are back up, mining!

    So, guys, while we mourn the loss our hashrates, we should keep hope alive that hashflare will look beyond the present and see the future implications of restoring our contracts especially now that mining has become profitable again!
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  3. Barnabias

    Barnabias Leader

    I Pray o
  4. SIC

    SIC Active

    Missed that window was painful too.:crying:
  5. SIC

    SIC Active

    First of all get farmiliar with the pool, you'll understand that statement. And sorry to add hashing24 account holders too!
    Prezzy likes this.
  6. gbolahan

    gbolahan GBOLAHAN Crypto Guardian

    It is painful but we need to move on
    Prezzy and SIC like this.
  7. philipj

    philipj GrandMaster Crypto Guardian

    Yes o!
  8. Prezzy

    Prezzy Leader Protector

    I agree
  9. Barnabias

    Barnabias Leader

    That means the company is gone? Because I don't think anyone will be interested in investing in such in the future even when btc begins to do well
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