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Hashflare stops cloud mining services

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Hashflare is already stopping it’s mining services on current SHA-256 contract. 

The company said in a statement that they are having difficulties in turning a profit amid market fluctuations. 

The company says the cancellations are in accordance with its terms of service, but many users are also reporting that the company has placed strict new controls on withdrawals. 

 

What are your thoughts?

source: 

https://cointelegraph.com/news/cloud-mining-platform-hashflare-stops-services-disables-equipment-on-sha-256-contracts

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20 minutes ago, athena2007 said:

noting surprise mje with hashflare always thaught is was a ponzi scheme as such...

Even legitimate cloud mining operations rarely give you ROI, unless the value of BTC rises over the course of the contract. Scam or not, they're not a good use of your money. =P

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I did invested like $200 money over there reinvested all the earning. When i received some bad signals, I stopped reinvesting and accumulated the earning for couple of months. Still it was not enough for minimum withdrawal. Now they have stopped the contracts and asking KYC information. Such a bad company.

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Looks like the bubble finally burst for them. I have warned people numerous times about HF and they never took heed of my advice. Soon people wont be able to withdraw their money from the site and they will all run away with your money.

This should a lesson for those who had their money in the site and those who were promoting it here. But dont worry they will be back just with a different name and different web domain and the greedy lot will fall for them once again. :D 

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1 hour ago, BladeMaster said:

They still sell ETH contracts. Why wouldn't they convert all the SHA256 contrats to ETH contratcs, without just closing those contracts?

Cause the prices for the contracts are different and it will take manual work to calculate the hashrate

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