CryptoSock
Sep 1, 2018 · 5 min read

Updated 9/2/18: Hashflare and Genesis Mining take note that the price of Bitcoin Cash has jumped 25% in the last week. Is that enough for an actual payout that isn’t .00000056 after #MEF-2-DEFF ????? HashFlare Genesis Mining

I’m suspecting more and more that the Radiant contracts were just a scam to get people to update their contracts so they wouldn’t have to turn on the old GPU miners for our SHA-256 “LIFETIME” contracts. All agreed, four months watching BTC crash is a lifetime, but NO, it’s really not. Time to plug the old beasts back in and get us payouts again. #RadiantScam

Also threw in some bots responding to my customer service request. Everyone should post these. How long can they possibly hide for?

First Response about a week ago (before chart and emails above)

I cannot wait until the bigger money starts to get real pissed and governments get involved in your business. Genesis Mining is even worse and proves they are a scam by trying to get current contracts not on their “radiant” style plan to pay just a little more to upgrade or be cancelled. Well, the 36% discount from 60 TH at $9K earlier in the year converts to over $10K in Radiant. Hmmm…that math doesn’t work. They also refuse to move older customers to the newer equipment at least half capacity for free. Some discount — this is the epitome of fraud and extortion — you literally had a CNBC interview showing your new mining in the coldest parts of the world. MEF cannot be that much. This goes to all cloud mining businesses…why does ETH and Zcash not have a daily maintenance fee on Hashflare? If you notice, they have added these ridiculous verification services, daily/monthly limits, and a “commission” on the withdrawals (including BTC I believe — sorry, it’s been a long time since I could make one. Don’t throw a pity party for me, I own my mistakes, but I wanted to share some thoughts on the “journey” as these YouTube idiots call it.)

I could purchase more than 1 BTC right now for $10K. With my contracts that will expire worthless, I mined .33 of a BTC and maybe half of 1 BCH. HF could at least allow us to mine BCH for a while and recoup some of our “investments.” The most influential factor in crypto and unfortunately for a lot of us, cloud mining, has been the futures markets — you cannot truthfully tell your customers you did not SHORT THE HELL out of BTC when futures came on the scene. What a perfect get out of jail free card. A perfect storm of BIG MONEY dragging the price down while getting rich on shorts.

Bitcoin has a hell somewhere, and you and the rest of the cloud mining services will be at the bottom of it mining Bitconnect and making their loans.

I think we can all agree with that one. Biiiiitttttt Cooonneeeeccccct!!!!!!

Amazingly, companies like yours continue to mine and tell us they are not making a profit, when that is what best suits your business plan — never having to pay out to the customer. The MEF numbers are your own voodoo accounting.

Now Hashflare doesn’t have to pay back your customers who own the contracts, if one could call them that — A three line piece of paper that I am sure would not hold up in a court of law somewhere on this earth. I’m sure it probably never started out this way, but I’m going to post this everywhere I find and see what kind of comments I get. Between cloud-mining and Bitmain, there is shady stuff going on that is being completely looked over by the law. (not trying to be captain obvious, we all have known this info for a long time, depending on how long you have been in the space, but no one ever talks about it on the cloud mining boards) Ex: Monero, I had the contracts when XMR was peaking at $500 a pop, and continue to receive a payout every so often now but the difficulty is through the roof.

I can’t even imagine how we are allowing Bitmain to create a mining factory here in the US in Texas as well as IPO. Seriously?

Wondering now if OTCQB: $HSSHF (TSXV:KASH), known as Hashchain Technology is the same company. The IPO opened right when BTC crashed and in the $2-$3 range. It is currently trading at 8 cents (it’s 6% up today!). Related…maybe. Maybe not. $15M market cap 8/31.

One final note of interest, currently, the Chinese are purchasing all the electric companies on the West Coast of the US forcing miners who were on the cheap to pack up their datacenters and get out. This is truth, not to mention extortion. Watch electric prices start to get more expensive over the next year in the US, especially with areas that are known for low electric prices. Don’t think the Chinese are sitting back in regards to these tariffs. They also own 7% of Bitcoin Cash — up from 2% last I checked a few months ago.

Sorry for stream of consciousness ramble here but deal with it. You get the picture. I know this was 100% my decision, signed the dotted line and can fully admit to it, but to not even budge on MEF with the amount of customers that will file for a class action suit against these companies, I think it would be a no-brainer.

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