HashFlare Shuts Down Bitcoin Mining

check it check it check it sounded good as usual alrighty ladies and gentlemen mr. Stanko here welcome back to the channel I know it's been a while and it'll probably be few and far in between for a little while now but that's ok because I'm still here I'm still alive it's just uh I things have slowed down a little bit doing doing some other work and just just bring it home that bread-like like everybody else I suppose so we got some sows today some stuff hey-oh things that I was already talking about and what am i what am i promoting today mr. Socko what do you promote today and that's gonna be a1 sauce I just show you how you give it a good shake you always give your sows a good shake and like the mustard that was good for the stache a 1 it's good for the soul woo I'll tell you what the steak is just a medium for your a1 sows now first topic here kind of kind of i-told-you-so I'm sorry though I'm sorry for anybody that actually has hash flare funds locked up hash flour shuts down Bitcoin mining services and users struggle to withdraw funds so hash flare the crypto currency cloud mining service that you've probably heard of by now has shut down its Bitcoin mining service platform also terminated all related Bitcoin mining contracts who would have thought that that was coming when s9 miners were making $4 a day and then you know 3 dollars and 25 cents of your of your earnings for that day get taken away by electricity fees who would have thought citing lack of profitability in operation yeah that's all I can say is who would have thought that this could happen my second cryptocurrency video ever made was called we need to talk about the Genesis mining Ponzi scheme and like nobody watched that video and I basically said this like going on a year ago now I don't know maybe eight months maybe that's an exaggeration either way the price of Bitcoin the top-rated cryptocurrency struggle throughout to 2018 declining by more than 60% since the start of the year now mind you just on a slightly positive note I suppose if Bitcoin comes back to a pretty reasonable 12,000 level plus level maybe even 10,000 these mining contracts may come back and it might not be a problem but just to the fact that they're taking all of your money and not giving it to you when profits are low and you could just have your own s 9 minor which I don't recommend Asics but you could just have your own and you would always be making that Bitcoin even if it cost you a little bit more on electricity to mine that Bitcoin some day Bitcoin will go up in price and it's your investment but you don't even get that when hash Flair decides to just not give it to you so here's aqualia said 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 of electricity however due to the general instability the market the actions we have taken could not significantly influence the current situation so they're just like hey we're out because the profits are down they're not they're not good enough for us so we're out I don't know guy about your guys is Bitcoin but we're just gonna save our own butts here so according to hatch flare payoffs to use have been lower than maintenance fees for 28 consecutive days thus the platform had no option but to terminate the service because their maintenance fees it's basically 35 cents per terra hash okay on hash flare so if you do the math there with about fourteen point five tera hash for an S nine minor maybe even 13 you're looking at well over three dollars and fifty cents a day because it would be if for just 10 tera hash it would just it would be three dollars and fifty cents a day and you know so if you if you had an s nine minor thirteen point five 14.5 tera hash somewhere around there depends on the model the batch that you got well you can see that that's you know going on well over $4 a day and if you're only making $4 in some odd cents a day with an S 9 minor there's there's there goes your fees for for hash flare but like I said if you owned your own ASIC miner at least you'd be getting that Bitcoin you'd still be getting the Bitcoin even if it even you for like well my electricity bills so high like it's starting to get hard to pay for it you know I'm having to pay out of my pocket I can't just sell me a Bitcoin well that's you know that's up to you for you to handle that financial situation but at the very least you have your Bitcoin for a later date if it goes back to 20,000 you go oh and you sell it and then happy day right you know you made your money back plus but this now judges now screw your Bitcoin before announcing the termination of its Bitcoin mining contract cash flow introduced new note your customer and Aunty money-laundering protocols it restrict the ability of unverified customers to withdraw their funds the proximity of the rules change the mining contract cancellation hasn't gone down well with many of its customers as a consequence many users have their funds trapped in the system oh my hash flare add it again so yeah don't you don't use cloud mining contracts that's why you've never seen a cloud mining contract like feel like referral link or me like show one it's just there it doesn't make sense to me because you know they're taking one you know one Terra hash on hash Flair costs such-and-such so if they have an S 9 minor one s nine minor which they have many of I'm sure but you just take one and if it's 14 Terra hash you can split that up between 14 people and make them pay so much and really only give them a smaller amount than it actually makes the minor a day and they're getting all of their money up front you might have just by your own Bitcoin it just doesn't make any sense it's like growing a money tree and then selling that money out well how can you make more money from a money tree that only produces a very certain very specific amount of money every day and actually slightly lowering coz of difficulty but we could throw all that out right so you have this money tree bakes it makes 100 dollars a day and you have to ask yourself how do I make 150 dollars a day out of this tree and somebody could be like well you could parcel up the the money that comes out right you could sell it's 100 bucks a day but you could sell it to 10,000 people and give them all ten cents a day you know or like eight cents a day and then you know you you've got all these ten all this all this money up front and the tree is eventually not going to as much money as you need to pay out but that's at a later date so we don't have to worry about the future come on why would we do that next article here Bitcoin futures trading up 93 percent reports CME Group Oh CME Group you like which one is that which one is the Siena group the ones that started up the futures the ones that the next day oh yeah let me just take you on the journey I know we've been here before let me take you come on let me take you on the journey let me show you what happens when you get futures contracts when did they come out the 17th oh my oh wow it's just not going good it's not looking good guys oh no and we have to come all the way back up so eventually probably will come back up you know more than likely we've been through this before but did it help things that's a resounding and pretty much objective no so great there have been mixed opinions about the success of Bitcoin based futures options since their inception is there really why would your even be mixed opinions can you guys look at the chart and see what happened I mean people typically sell off around this time of year you know it comes back you know at some point oh we're not even like we're not even that far yet oh we even made it worse by stretching it out to today so you could see what happens it's not good so futures trading has however also faced the same challenges as cryptocurrency markets as a whole without with hesitant institutional investor interest a price and market capitalization decline in global regulatory uncertainty despite the performance of crypto currency markets overall Bitcoin futures trading has been increased interest and liquidity here's why because they all realize it's the bottom and now they're betting that it's going to go up and some people are gonna put in some secret money see I should do ASMR have you guys ever seen ASMR YouTube ASMR right now and all it is is people speaking like this and people are obsessed with it I have no and they get like 50 million views for their videos while whisper into the microphone I am I just getting old are we getting old is this what actually happens so somebody older than me tell me in the comments down below is this what happens when you get older you start to find these trends that are coming out to be you know and then you feel like your parents you know or your grandparents do you like Oh grandpa you're so old you know you don't like you don't like cell phones like I don't need no stinkin dang cell your telephone and you're like oh geez you know and but you know mmm don't like it so let's move on let's move on to the next article I kind of like this what this was good times UK police they cannot huddle Oh No so last year in April Surrey if I'm saying that right police seized a 295 Bitcoin bitcoins held by now convicted criminal terr ESCO the wrongdoer is serving more than 9 years of jail time on charges of money laundering possession and control of articles for fraud and cultivation of cannabis oh no not cannabis not not that horrible plant that poisons whole towns and then it gets into the it gets getting into the city water and everybody can't stop eating for like for like six hours and then then they're like oh I guess I'll go to work now okay so the police reportedly found a digital key to access the criminals Bitcoin at its property located in Cobham from apart from that the officers also found expensive items gold bars credits cuz everybody's just got gold bars laying around the house why does every Bitcoin trader it should I have you guys should I get gold bars like immediately like you know I like gold and I would love to invest in gold if I just have like a lot of extra money or something I suppose but man like it seems like every criminal Bitcoin holder who you know was he was using Bitcoin illegally or doing something illegal and had all their bitcoins sold it's always like a bunch of gold bars to like it must be like the same kind of mindset that like you know like people were like I don't want the best and see it I'm gonna invest in gold cuz Alex Jones told me to you know and Gold's cool like cool it's a great investment don't get me wrong I'm not like totally bashing it but like it's it's a pain you know and like it's heavy dense and it's really heavy and it's just a pain to move around and people like to steal it including police so yeah like keep your don't keep your gold in your house or something keep it buried or something anyway so tech-savvy policemen so the police sold the cryptocurrency back in October so I don't know when they actually took it and seen how much last year in a par ok so April let's just see let's let's see let's see ok so let's see how well they did well go December 27th there goes 2017 year so in April they say it was about 1200 and they sold it they sold it at 4348 30 so that's pretty sick actually to be totally honest I'm gonna go you know that's that's pretty good but honestly they they probably weren't saying hey we're gonna wait for the value of this to increase it was probably more of a of a legal process in order like process all the Bitcoin and process all like that all the the case and convict and yada yada I'm sorry I'm not a policeman but I'm sure there's a real long road before you can just auction off somebody's property after like convicting them I would imagine of legal loopholes so and then they're like okay like so now it's ours it's officially ours it's officially the states or whatever we can we can now sell it so they sold it at forty eight thirty which is pretty sick considering it was two hundred and fifty six 295 Bitcoin so valued at one point forty five million pounds lawfully the surrey police gets to keep eighteen point eighteen excuse me eighteen point eight percent of the proceeds which is roughly around two hundred and seventy three thousand pounds not bad considering I think pounds are worth quite a bit more than the US dollar at the moment I'm not sure I think it's been like that for a little while money that the department can use on top of its current operating budget good for them I suppose if that's you're saying even though it's kind of the state taking somebody's Bitcoin but we'll go with it so anyway ironically just a few months after the police sold the cryptocurrency Bitcoin went on to reach its all-time high peaking at the beginning of January just over 20,000 should the Surrey Police Department have ooh good one Hetal nice clever clever twist as the cryptocurrency for a little while longer they could have netted upwards of 800,000 and that's just their their keep so they could have definitely gotten quite a bit more out of that so kind of funny but I suppose you know you can't scoff at making 273 cool ones I certainly wouldn't I guess yeah I guess you could like kick yourself in the rear like do a little kick up in the grass in your yard and I kick yourself in the bottom you know big I could have had a lot more but you know who could argue with 273 cool ones you know 273,000 cool ones anyway so let's move on to the next article so quick base gets 20 billion Prime client and adds back on Facebook so coinbase have been focusing a big institutional money and they launched a custodial service this month and earlier this year establishing coinbase Prime so a suite of tools specifically designed for institutions so basically so they could trade better than us who's that that's like that's like the topic of the day so 20 billion hedge fund has already signed up for the prime business so they're got a 20 billion hedge fund so that's pretty good and coinbase ads are back on Facebook which is actually my focus of the article I suppose institutional investing is okay it might rise raise the price you'd be of cryptocurrency but I'm skeptical of it because you know the one percenter Wall Street kind of deal is is is a stereotypical thing cliché for a reason because they're just gobbling up you know with their billions and billions daily you know and probably likely may be trillions or something going through the entire Wall Street and and and world as a whole every day and then you know you're using your you know two thousand dollars on coin base or something like that so there's there's just no no chance for you and it's sort of like well we don't have a chance against the whales you know the people with the millionaire's or even the the six-figure errors that can buy dozens or hundreds or possibly thousands of Asics and you know create a warehouse and start just mine in a way making a whole bunch of money or as you can see on the chart here it looks like a a small bit of manipulation I don't know if that's manipulation or not but you know the walls that you see that's usually somebody buying or a lot of people buying all at once a whole bunch and it just shoots way up and then they can kind of manipulate it to some degree that way I suppose it's a stretch saying manipulation and it's you know not really a stretch at all saying manipulation at the same time depends on how you look at it so the companies also got good news on its retail side of the business with its promotional post a lot back on Facebook and that's a really good thing that's gonna get a lot of people and collectively a lot of people is a lot of money and Facebook whether you like it or not is huge it's still huge I know the whole information scandal with the election or whatever the Cambridge analytic everybody started hating it because they took all everybody's information but you know that's like not news to me I don't think that should be news to anybody at this point you know there comes there comes a situation where you're like okay what's too much information so you either leave Facebook or you just stay because you're like I'm not really doing anything so that's pretty good so you know the Facebook banned ads for crypto earlier this year proud to say that we've been white listed in our back introducing more people to an open financial system so that's good look at at Quinn market camp just before just before we go I think somebody's trying to blow me up here on the phone Bitcoin at 7600 everything's going up pretty good but there were some whale purchases that I didn't really see died off after they were purchased so that kind of leads me to a small problem in the sense that you know sooner or later this right here this little bar is probably gonna get sold off now is it always just one person doing that no that's not the case but a lot of times when you see that you end up seeing the dip of almost of equal proportion outright after that so everything's looking good though don't mean to be too negative but you know just got to be you know you just got to understand that it's just not always the case it's not just time to like go super jump in with everything make sure you're still watching the markets just being careful with the trades but I hope you guys enjoyed this episode and as usual I will see you guys next time

26 thoughts on “HashFlare Shuts Down Bitcoin Mining”

  1. Bitcoin is becoming stable now. Everybody is waiting, when price grow to $9000. Growing comes after falling.

  2. Never invest in hashflare or you loose ! You give them money and have no control over what they do + all the shitty explanations you will hear…. tell all people to protect them. Hashflare is a shame for blockchain!

  3. Don't believe them – Hashflare is a ponzi scheme and is only restarting mining because of the 100s of consumer protection claims our group of 850+ scammed users filed against them. They're going down – join the movement here: https://t.me/joinchat/IT_wxhBkiGV4eJsIUY_YLg

    I'll likely get banned for this post, so please repost it so that we can help others learn the truth.

    Simple test: Hashflare, if you are not a Ponzi scheme, please post a few pictures of your executive team in your mining facilities with mining equipment visible.

    If you do not, the investigations and lawsuits will continue, and you will go down.

  4. NO, at least not for me. I think whispering in a mic is kinda creepy. Same with that crinkling paper thing. Provides me zero relaxation or comfort. It's weird.

  5. Bro I have been trying to talk sense into people about cloud mining for years. I never ever ever ever thought it was a good idea. The idea came about after I learned how to mine so I could completly understand and it was totally rational to think that cloud mining sucks and even more with services like hashflare. Crap crap crap but you have youtubers like sunny that jump on the anything boat and people think he knows what hes talking about because he had money before crypto and bought all his crypto not earned it. He couldnt even get his miner because he spent all that money and put zero thought on how he was going to take delivery. I dont even live there and know the deal from shipping to there. He should have known better. My point is that dont feel bad about nobody watching sometimes people get crazy ideas they cant lose with no help from sill youtubers cough cough doug polk cough cough

  6. oh god oh god oh god i missed you, i knew you quitted just because i wasn´t ready to pay my "voluntary" fee. i got it ready soon. but….what are the others doing? just commenting?

  7. 770 into Hashflare in February, ZERO back. Piss off to Hashflare. May your customers find your administrators in a dark back alley. I left Facebook!!!

  8. Here's another good one for ya…Maybe you can look at it and tell us what you think. "Neo Mining and technologies." I call scam. Their CEO was charged in the Telexfree ponzi scheme back in 2012 already…..Thoughts>? http://neominetech.com/

  9. Hey MrSotko! It's great to see you popping in to drop some knowledge. You have been way ahead of the curve when it comes to spreading the word about the cloud mining issue (well done). In fact, I've learned more about mining in general from you than I have collectively from everybody/everywhere else.

    ASMR – its' funny you should bring that up. I really have no idea how it happened, but I stumbled across an ASMR video a few weeks ago and I had to laugh. I had no idea that this "practice" and "sector" of society even existed. After further review, I realized that there is a huge market for this ASMR stuff. My original laugh quickly turned to a slight feeling of unsettlement. LOL

    Thanks for the update. Have a nice day.

  10. Yeah, sounds like we are getting old… But that does also mean you can skyrocket your audience by making ASMR crypto videos 😀

  11. My theory on ASMR: the "outrage culture" of the current generation ("you don't know me, don't talk to me") has created a lack of intimacy. ASMR is a substitute for that intimacy.

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