CNBC crypto-trader host and devotee, Ran NeuNer has recently tweeted out that HashFlare, a cryptocurrency cloud mining services provider, could be a scam. In his tweet, NeuNer mentioned that he has been looking into it and is most certain that it is a complete scam.
In particular, he said,
“Been doing some research on @hashflare and believe strongly that this “mining operation” is a scam. Looking to expose it in an episode. If you have info or can assist, please tweet me or comment. Retweet so we can get the information.”
Several Twitter users immediately responded to NeuNer’s post with their experiences and, by the looks of it, many are agreeing with the statement made. Here are what others have to say:
Cloud @RiceSuave Replying to @cryptomanran @hashflare
“I invested 22K in January and I’m no longer making money. After fees and all I’ve mined 1 full btc in 6 months. With current btc price I’m making 0 every day. Extremely frustrating.”
Evans @Evans_obiwuru Replying to @cryptomanran @hashflare
“Any company that allow you to mine with their ASIC machines is just scamming you, because if it is possible they won’t let you in.”
It appears that many people have either made no profits or have completely lost their investments in HashFlare. Will NeuNer and other crypto investors arrive to a conclusion about this assumption? What will the future hold for many of the cloud mining as a service companies and services should one of the biggest is actually a scam if NeuNer is right?
Dumbest article I’ve seen, read the terms of service before you buy hashing power geniuses. It clearly states that should the bitcoin price and difficulty cause the amount of bitcoin mined to be less than the cost of running the machine your contract will be stopped.
I made quite a bit of money with Hashflare. I got in before the late summer good Rush of 2017. If you opened contracts recently you don’t understand how difficulty and maintenance fees work. For the comments about cloud mining being a scam because, “if they have ASICS then why do they need people’s money?” Is just stupid. They need money for overhead and scaling. They make huge profits giving contract owners a small piece of the pie by comparison but it’s a business. They’re not here to provide a free service. We’ll be in good shape when BTC value increases again.
I also mine at home and shut down when not profitable. I, like Hashflare do not want to operate at a loss.