I just received an e-mail from Hashflare regarding some changes in their service.
SHA-256 and Scrypt contracts are now also subject to change. The changes, which mainly cover the terms and the prices of the contracts will become effective on September 1, 2017.
The new price for 10 GH/s of SHA-256 will be $2.40, while 1 MH/s of Scrypt will now cost $11.50. The maintenance & electricity fee will remain the same.
All new SHA-256 and Scrypt contracts will be issued for a limited term of 1 year from the moment of activation. All SHA-256 and Scrypt contracts activated prior to 01.09.2017 will expire on 31.08.2018.
What does this mean for people using cloud mining services?
Don't get me wrong, I love the cloud mining services that have stuck out for the longest time. Eobot was the first one I started on and well, they were upfront with their contracts which would only last 5 years upon upgrade.
With this new adjustment to Hashflare, there is possibly something on the way that may disrupt or change the way they do business. Could possibly be due to the Ethereum Hardfork happening at the end of September. Upon further investigation on the Ethereum hardfork, it appears that they will not longer be doing the Proof of Work and opting for the Proof of Stake model. Which means that cloud mining services would have to find an alternative to their Eth miners.
As far as Bitcoin goes, another hardfork and possible new coin will also disrupt the networks and cause more chaos like the situation with BitcoinCash.
Let's hope things will work out for the better and not leave us miners stranded.
What are your thoughts on the current situation of the major currencies right now?