RE: HODL Experiment - Hashflare changing terms, Price is going to Double Tonight! - Day 5 of 365
Potentially profitable for a year, but I'm not giving a dollar to a company that makes such an announcement with 1 day of advanced notice so that they maximized fooling as many people as possible to buy under a lifetime term while Bitcoin's price is rising and mining output is wonderfully getting more productive.
It feels unethical to me and it severed a lot of trust in the community. A price raise is fine. Getting rid of lifetime contracts going forward is fine.
BACKSTABBING their current loyal customers by letting them buy/upgrade until 24 hours before a change, and deceiving them, while also not honoring their agreements for the long term for good-will is a horrible move. The ill-will this created will not fare well and will now risk future business and their ability to stay in business if sales plummet and legal action is taken for false advertisement.
I'm noting that the contract terms probably have a loophole that the contract is able to be terminated if they can't cover their daily costs, but I doubt that's the case here. They should prove it then otherwise...
I get exactly what you're saying. It seems that existing hashing did not get capped for a year, which I'm grateful for. However IMO after maintenance fees @ 240/yr for 1TH with expected difficulty increases; not even worth it. 120 even for a year will still net you more. Other hash rates are just crazy prices.
I find it funny this increase happened right after bitmain had put miners up for sale less then a day prior and sold out.
I'm not upset with the performance I'm getting from them, but I will not buy any additional hashing power at double what it was. Especially when BTC is MUCH higher now.