The Risks of Mining Bitcoin on HashFlare
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These terms and conditions apply to the use of the website located at https: The Website and the materials and services contained therein are the property of Bitfire. Specifically, your order of, use of, and access to the Website, products, materials, and content are subject to these Terms and all applicable laws and regulations. If you do not agree with any of these Terms, do not order, use or access any part of the Website, products, product sites or content, or any of the information contained on the Website.
If you refuse to accept these Terms, you will not be able to purchase a Services, or to access your portal related to an existing Services. If you do choose to agree to these Terms, you should print a copy of these Terms or save it for your future reference. Every time you bitcoin miner mining contract agreements a Service, please refer to the most current version of the Terms made available on the Website to ensure you understand the terms which will apply at that time.
This Agreement was most recently updated on April 17, Bitfire may, in our sole discretion, decide that we are unable or unwilling to provide you Services under these Terms.
If that is the case, and if you have already paid for the Services, we will refund you the difference between the base price paid by you of your Mining Contract, and the amount of Cryptocurrency paid to you.
The base price in your Mining Contract does not include any fees. Should the amount of Cryptocurrency paid to you exceed the base price paid by you there will be no refund. These Terms are only in the English language and if they should exist in bitcoin miner mining contract agreements other language, the version existing in the English language will control. Your use of the Website is governed by these Terms as posted on the Website. We reserve the right to update, alter, or amend these Terms from time to time.
Please take the time to read these and to check regularly for changes, as they include important terms which apply to you. Actions with Cryptocurrencies carry inherent risks. Because Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. Due to such factors, you may increase or lose value in your Cryptocurrencies at any given moment. Any currency — digital or not — may be subject to large swings in value and may even become worthless.
There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. Cryptocurrencies actions also have special risks not generally shared with fiat currencies or goods or commodities in a market. Unlike fiat currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrencies are backed by technology and their perceived value in the marketplace.
As such, you understand and agree that the worth of any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies.
You understand that you are solely responsible for management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity. Before you can use our Services, you must have a valid Account as described below. Bitfire must approve an Account in order for it to be valid.
Because providing Services may entail us undertaking financial risk on your behalf, if you select and purchase or utilize a Service, you agree that we may investigate your personal history in public records or your credit history or score.
In addition, we may require additional information and identification about you to help us prevent fraud or money laundering; this may include, but is not limited to: We may also undertake our own identity, fraud and credit checks. You permit us to share credit information about you with credit reporting agencies and any of our other affiliated companies.
In using our Services, you represent and warrant that you have conducted bitcoin miner mining contract agreements due diligence to understand the risks associated with Cryptocurrencies mining. You acknowledge that due to the difficulties in renting Mining Hardware, there may be delays which affect the rate at which we are able to bring online Mining Hardware. Unless otherwise provided, bitcoin miner mining contract agreements are responsible for providing the hardware and software necessary to access bitcoin miner mining contract agreements Services and Website, and you will bear all costs associated with the acquisition and maintenance of such hardware and software.
We do not guarantee the functionality of our Services or bitcoin miner mining contract agreements Website on any hardware or software. We will not be responsible or liable for any errors or failures from any malfunction of your hardware or software.
To register you will need to submit some personally identifiable information, a valid email address that will be used as Username and for user identification for your Website account "Account"a password "Password". You agree that Bitfire may utilize the IP address of the machine or device used to access the Website to identify your location. This location will be used to determine the appropriate VAT calculation.
To be able to withdraw funds you will need to enter at least one wallet for the Cryptocurrency you are mining. The Account may allow you to add more than one Cryptocurrency wallet. You must ensure that all information about provided by you is current, complete, accurate, and truthful. Your Username and Password are personal to you and must not be disclosed to any other person. To protect your Account and to prevent unauthorized access to it, keep your Password confidential. The number of accounts is limited to 1 for each beneficiary.
You are responsible for any activity that happens on or through your Account. If you become aware of or suspect any unauthorized use of your Password or Account, please change your Password immediately bitcoin miner mining contract agreements notify us immediately.
If we believe that there has been unauthorized access bitcoin miner mining contract agreements your Account, we reserve the unilateral right to suspend or discontinue any and all Services, your Account, in which event we will endeavor to notify you. Subject to the payment of any fees which may be applied, you will be able to receive Cryptocurrencies on the basis of the processing power of the processing machine and the period of mining time. After mining, any mined Cryptocurrencies will be transferred to your Cryptocurrency Wallet upon your request, if such request is confirmed.
You have no ownership interest in any Cryptocurrency held by us. We do not operate your Cryptocurrency Wallet. You are solely responsible for maintaining and controlling your Cryptocurrency Wallet. Be sure to safeguard the access credentials to your wallet.
Any product and Service is only as secure as your Password and Username. If you forget or misplace your access credentials to your Cryptocurrency Wallet or if others gain access to your Cryptocurrency Wallet, with or without your authorization, you could permanently lose your Cryptocurrency. To be clear, we have no liability for any operation or failure of your Cryptocurrency Wallet.
The idea is that the specific amounts of Services allotted in each order create an opportunity to make a possible, but not guaranteed, profit. When you agree to these Terms, and we accept your offer,you will be to create a Mining Contract. After registering your Account on the Website, you will be able to review the available Mining Contracts on our Website.
After you select a Mining Contract and provide payment, mining will start instantly. Upon commencement of Service, we will allocate a part of Mining Hardware, as described in your Mining Contract, to you for your use in mining Bitcoins. The types of Mining Contracts potentially available at bitcoin miner mining contract agreements time are described in detail bitcoin miner mining contract agreements our Website.
You must have purchased bitcoin miner mining contract agreements Mining Contract to have any right to use Services to obtain any right to Product defined below. You acknowledge that by agreeing to these Terms and entering a Mining Contract, and by logging into our Site and accessing your account, you are undertaking Cryptocurrency mining on your behalf only, at your own risk and for your own benefit.
In allocating to you the Services described in a Mining Contract, we will use commercially reasonable efforts to rent the Mining Hardware on your behalf, partially on behalf of our other Users, and partially on behalf of ourselves. Bitcoin miner mining contract agreements Mining Hardware not being utilized pursuant to a Mining Contract is reserved for Bitfire and at all times we retain a portion of the total Mining Hardware for our benefit.
The Mining Hardware will mine your selected Cryptocurrency by utilizing hash rate. Hast rate is determined by the speed and abilities of our Mining Hardware. Specifically, hash rate measures the number of times a hash function can be computed per second. There are certain costs associated with running the Mining Hardware. To cover those costs, you agree that we may charge you a daily maintenance fee. We can change bitcoin miner mining contract agreements maintenance fee any time with 7 days' notice.
Contract is valid while profitable, until expired or until terminated refer to section 12whichever comes first. Contracts with a stated expiration date will end on the date of expiration and the Services will be stopped. Pre-order Mining Contracts that are bitcoin miner mining contract agreements activated immediately on purchase will activate on the stated date. The Mining process continues until said mining is profitable. This means the Mining process will stop if the Fees become larger than the Payout.
Permanent Service termination Hashrate type specific will occur if mining remains unprofitable for 21 consecutive days. Should termination occur for this reason, no refund will be provided. If, for any reason, Ethereum becomes unminable, any Mining Contracts to bitcoin miner mining contract agreements Ethereum will automatically be converted to ZCash. Bitfire will provide you notice of any such conversion, if possible, at least three days before the conversion is to occur.
Any impacts to conversion rate or other details will be provided to you at that time. Prices may change from time to time. Current prices will be described on our Website or in Mining Contracts.
We take all reasonable care to ensure that the prices of the Services are correct bitcoin miner mining contract agreements the time when the relevant information was entered onto the system. However, if we discover an error in the price of a Service you ordered, your order will be revised. You will not use our Services or the content or information delivered through our Services or Website to conduct any business or activity or solicit the performance of any activity for bitcoin miner mining contract agreements illegal, fraudulent, unauthorized or improper purpose.
You agree that you will not attempt to: If we have reason to believe that you bitcoin miner mining contract agreements any entity under your common ownership or control have engaged in any of the prohibited or unauthorized activities described in this Agreement, have otherwise breached your obligations under these Terms, have misappropriated our trade secrets or our protected information, copyrights, patents or other intellectual property rights, then without demand or prior notice and without limiting any of its other available remedies, we may:.
You acknowledge and agree that subject to the limited rights expressly granted hereunder, we reserve all of our rights, title and interest in and to the Websites, including all of our related intellectual property rights.
No rights are granted to you hereunder other than as expressly set forth herein. The Websites are protected by copyright, trademark, patent, trade secret and other laws, and, as between you and Bitfire, Bitfire owns and retains all rights in the Websites. You will not remove, alter or conceal any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Websites and you will bitcoin miner mining contract agreements reproduce, modify, adapt, prepare derivative works based on, perform, display, publish, distribute, transmit, broadcast, sell, license or otherwise exploit the Websites.
Any use of the Websites, other than as specifically authorized herein, is strictly prohibited. Any rights not bitcoin miner mining contract agreements granted herein are reserved by Bitfire. These Terms do no not transfer any ownership or proprietary rights or any work or any part thereof to you.
Instead, these Terms simply allow you to utilize our Services and Website as described in your Mining Contract, if applicable, and these Terms, and only during the applicable term. Your bitcoin miner mining contract agreements under these Terms are not transferable to any bitcoin miner mining contract agreements person absent our prior express written consent.
