Bitcoin Forum

We mine Scrypt based altcoins using custom ASIC hardware and very cheap electricity. We offer custom mining contracts for any amount starting from 0.01 BTC. The payments are processed directly to your deposit address every hour. You break even in approximately a month after buying your contract, multiple contracts are allowed. All contracts are valid for one year term.

We decided to offer a very simple and straightforward cloud-hashing solution. All you need to start with us is a Bitcoin address, you don't even have to register.

Cloudhashers.net (http://Cloudhashers.net)

Invested 0.33 BTC. Worked right from the start.

Invested 5.5 BTC. Took 12 hours to start, but it is working now.

Seems this is legit!

Cheers

Jeff

5.5 BTC? That is a big investment to my measures.


I tried that with smaller amount.

First payment came even before my payment was fully confirmed (4 confirmations)
But will see whether payouts will keep coming for whole year.

If this is a not scam, then it best service I've seen so far.
I do like hourly payouts. finally some traffic to my wallet  :D

P.S.
there is typo above weeks of operation slider. it says "Stability it the key!"  trust it should be "Stability is the key!"

Thank you for the tip, the typo is fixed.

We're trying to offer the simplest profit from mining possible, we appreciate that you like our service, it means that we're on the right track

Yep, if you keep this up, you're definitely on the right track.

I've been with you for close to a week and your setup is working like a charm.

How do you manage rising difficulty though? Just curious....

Cheers

Jeff

You mean hash rate? Basically we switch on our new ASICs :) We received a new batch from our manufacturer last week

Even with the new ASICs you are going to run into rising difficulty. Do you cap that with new machines that are stronger?

I've also ordered an ASIC machine, but that will come in July. I'm hoping to recoup the costs within 4-6 weeks.

We have some custom scrypt machines, and we mine the most profitable coin at the moment.So rising difficulty is not really an issue. We do not mine Bitcoin, we mine alts.

More than 30 BTC paid in two weeks of operation. Waiting for new participants, that's just about 0.4-0.5% of our available hashing power.

Prove that you own mining device you talking about. Post pictures or something.
This gives you trust, thus more customers.

This is so suspect.

Looks like a ponzi to me

Sure, we'll post the photos.

No trolling, please

Pics or gtfo

Bought a small amount (.1) a few days ago and it has been paying every hour so far. Hope this continues because it pays the highest daily return % of all cloud mining. Would love to see pic of equipment also to prove not a ponzi.

It's hard not to. 

Can you post pictures of your setup?  with a card and your user name next to it?

Finished the new hardware installation, the new hash rate is up about 25%

Pics

No deposit yet ??
   ;D  ;D

Well I thought I would give this program a go, and sent 0.01 btc to them as a tester and now two days have passed with no payments.

I have tried contacting them with several messages on twitter, as this seems there only form of contact with no reply.

Was hoping to invest more once it was proven to work, but so glad i haven't now.

how is this going guys? i'm now with pbmining but this seems very attractive. unfortunately i can't find much information around this. anyone else have jumped in and have good results?

Hello, please give us your TXID here or through PM

this really not looks as legit mining company.
there is no price per Ghs or Mhs  .... sent any amount of BTC, and receive some percentage during long period ... really look like a simple ponzi.

to  Cloudhashers
What about the pictures, pool statistic  etc.  show us something, or you never will get any serious customers.

so far good. deposited 0.017 BTC and already have 0.013 back in my wallet. by end of month should get ROI.


There is no much information about, I am also bit scared, but so far it works. Guess I won't invest more until they provide some additional info.

I hope that this is what you are looking for, this is the hash  :  fb0b7d7917381a828a201c675f16bb668a7e29a0fdc53e0cbf108119b027d0c7

536 confirmations

I have noticed that since I have sent this, you do not want payments via coinbase, which this was sent from.  I do have a blockchain.info account so can give an address from there to make payments to, or if you refund it back to me I can transfer it to blockchain.info wallet and resend it.

We never wanted coinbase payments, it is clearly stated at the website. We have no way to find out your address for receiving funds if you send from shared wallets like coinbase.
Please give your address for receiving payments or refund address

Please check our Twitter for updates pics etc.
Our goal is to make a very simple and transparent program, MHS can be simply confusing for many.

OK guys. I've been with Cloudhashers for close to three weeks, virtually right from the start. I admit that I'm not adverse to taking moderate risks and I did risk a fair amount on Cloudhashers. There is an old saying: you have to speculate to accumulate. No pain, no gain, right?

As far as I can tell they are completely legit. It has been working like a charm for three weeks. Initially I made a larger investment and it took 12 hours to start, which got me a bit worried initially. But in the end the money showed up and I put this down to teething problems of the system.

I've seen the pics on Twitter and I like the idea of stability over a period of one year. Tablemining - a fierce competitor it seems - offers only 80 days at 5% vs. the 365 days of Cloudhashers at 3%. Anybody with a bit of mathematical savvy will know that 5% at 80 days will never beat 3% at 365 days. Simple as that....

It will be interesting to see how Cloudhashers will offset the rising difficulty, especially since a large number of Scrypt ASIC machines will hit the market soon.

All I can say is: happy mining folks!

Cheers

Jeff

Ok, my apologies for accusation, I just wrote my initial impression.
You really should introduce better next time, to prevent such a situation.

According number of views vs. posts of this thread I think much more members just consider this as sc..m.

Let's give a try.

Thanks for getting back to us on this issue, my wallet address for payments is :  18UBGPcyoKtyKFaKUAdtMsQ3C8aG4MZHGp

In future I will use Blockchain.info to send further investment to you.

Out of interest, on your web page you recommended using Blockchain or a desktop wallet, but I cannot see it mentioning not to use Coinbase, unless I have misread the page, otherwise i wouldn't have used my coinbase wallet.  Perhaps the website needs a small note not to use such wallets to stop any confusion for others in the future.

Once again, thanks for the quick response to my problem, and look forward to receiving payments.

Hello, your payout address is set now.

Is it just me or is it a coincidence that everyone who has tried this out on this thread is a newbie? I'm curious and am very interested in this but I smell fish.

Had the same thought! Making multiple accounts for this ponzy nice try

Jeez guys. I've tried quite a lot of pools: scrypt.cc, clevermining, ghash.io, etc.

None of the pools have proven to be viable over the long run. When Cloudhashers announced that they were offering 3% per day on a stable repayment scheme I invested a fraction of a bitcoin to check whether they were legit.

I've been running with them for close to four weeks and have got most of my investment back.

I'm not in Norway by the way, but in Central Europe. I am not affiliated with Cloudhashers in any way. You can check my Twitter account if you like.

Invest a small amount and let it runn for 3-4 weeks. The worst that can happen is that you get your money back.

Cheers

Cloudhashers, I see you put a photo on Twitter, to prove you're legit.

But why is your photo ( https://twitter.com/Cloudhashers/status/480704816797483008/photo/1 ) exactly the same as this one on Wawaminer.com: http://wawaminer.com/image/data/200.jpg (as seen on this page: http://wawaminer.com/index.php?route=product/product&product_id=66 )?

Dude it's a fake ponzi scam...

Please cool off, we're ready to disclose as much private info as possible, as long as it doesn't hurt our business interests. Users are getting paid every hour, our payout statistics is open and can be seen by anyone. We use custom ASIC's so we're cautious about disclosing too much information about them now.
If we have good business relation with you we're ready to invite you to check our premises out etc,
otherwise please be satisfied with regular payments and being in profit after one month :)

"We use custom ASIC's so we're cautious about disclosing too much information about them now."
That's right,
Can you post your Introduction information, Ex:
- Address of office or factory ( Google Map)
- Photo of your office ( People working)
- Tax ID ( If you have)
- More infomation on Twitter ( now it's poor)

Sympathy for my english level. I just want more transparent information before I invest more.

Please check our twitter regularly, we will be posting some information, appropriate for public eye.
We're in initial stages of our operation now, there are very many other things to attend to.

Hey, where's your ToS? You CANT be offering a contract without a ToS.

If you dont have one and you dont give your clients a way to accept it, then you thrully arent legit and should stop scamming ppl.

You say that you are paying hourly at some rate but what garantee do we have?, legally speaking.

I'll wait eagerly for your reply.

I see where you're coming from, but at the moment we're just too busy with hardware. We'll try to update our website with TOS within two weeks. Our deposit address is public, you can monitor all the payments for now.

What do you mean by "I see where you're coming from"? It's simple, I wana use your service BUT can't simply thrust your word. We need much more than "we're just too busy with hardware" to work with you, starting with attitude. Take this (and my past one) as a constructive comment.

Also, would you mind explaining why is your only twitter picture the same as in http://wawaminer.com/image/data/200.jpg ? And please don't give us, your clients, an evasive answer...

Thank you.

I have an account on your site.
Hourly payout very good from i start here.
I want to deposit much more, but i haven't alot of your information.
I think that begin allway busy work. But you should take a photo of your farm or office ( not spen alot time, only 5 minutes)
I have about more 0.7 BTC on your site now.
Per hour/ 0.00071719 BTC.

Thanks for your service anyway.
Waiting for new reply only truth photo.

Ok, so I made this https://blockchain.info/tx/378bfac478ecd0049eb4112b2622a63a695e937e7b3731ad2bec2221d0d19d99 (https://blockchain.info/tx/378bfac478ecd0049eb4112b2622a63a695e937e7b3731ad2bec2221d0d19d99) deposit of 0.012 BTC aprox 8 hours ago... How much money my address recieved? 0.00 BTC.

This is my address: 1P5HSUssHKft3DrRZEcuWTrKoWdCp9Qav3
This was de destination address: 15jBLCxe7bgGzG2Su4uXH2iSMZD9cefYfb

Hey cloudhashers, any explanation? I need your help here...

Hello, did you use a webwallet?
If yes give us address for receiving payments.

Hello, yes, we will do it. Setting up a lot of stuff now, also we have to consider privacy implications.

Here, please use this one: 1CuG1zXxbcwm54YZMQYsvatSM1vK349b3h

Also, I want to deposit 2 btc but really am to scared to do it, but in the event of depositing more and making new contracts, how can I contact you quickly since ill be depositing from a web address and I would need you to change the deposit address to the one I posted here in the past sentence?

I hope you answer soon.

I'm using wallet of Blockchain.
Very fast received per hour.

I will follow your lead and make a wallet at Blockchain. Can you please share with us how long did it took for you to receive the first payment?

Also, if you are willing to share any other information about your experience with cloudhashers, am all ears.

Thanks!

If you do things right, you will get an AUTOMATED payout within an hour of your "investment".

Key phrase: "If You Do Things Right".

How to screw up easily:

1. send your btc investment via coinbase, cex.io and other such web wallets that dispense payouts via a system btc address.

2. another clue: if it don't work for satoshi dice, then it won't work for cloudhashers.net

How to Do It Right:

1. send your "investment" via bitcoin-qt or any other desktop wallet that assigns a unique SENDING btc address. bitcoin-qt works.

2. cloudhashers.net recommends blockchain.info wallet as it does assign unique SENDING btc addresses.

How to Do It Right-er:

1. within one hour of your correctly sent "investment", you will get an automated payment equal to 0.00125X, with X = btc investment. This will happen each and every hour, currently around 10 minutes past the hour. EVERY SINGLE HOUR.

2. Cloudhasher.net is unwilling or unable to understand the bad consequences of HOURLY PAYMENTS. Consider this: In a week's time, that's 168 payment transactions. In two weeks it is 336 payment transactions and in 3 weeks time, that is 504 transactions.

3. These hundreds upon hundreds of transactions to your wallet will cost you BIG TIME when you decide to spend i.e. SEND OUT btc to a btc address. You see (and listen up and understand this cloudhashers.net), sending out ONE of these incoming transactions will cost you 0.0001 BTC fee.

But since the amounts of the cloudhashers.net payouts are so small, you will find that you will have to send out HUNDREDS of these incoming transactions to equal to the amount of your outgoing BTC . Mytrezor.com's wallet crashed horribly and burned big time, for example. Plus think of the FEE of 0.0001 BTC multiplied HUNDREDS OF TIMES for your one outgoing btc send transaction. Stop This Madness!

4. I tried to tell cloudhashers.net about the bane of hourly payouts (my suggesting payouts once a day for example) but THEY DON'T/WON'T understand. Other "investors" also tried to bring out this point to no avail. One customer posted a pic that said "NOT PROFITABLE" because his return on 0.01 BTC investment (the smallest allowed) payouts were overcome by the hundreds upon hundreds of itty bitty stinky poka dot bikini transactions FEES!

5. It is very troubling that cloudhashers.net do not understand what the hourly payouts are doing. One typical response of theirs is saying "Hello, you should send a deposit with a smaller fee." WTF? If they don't understand how hundreds of their INCOMING transactions to a customer's wallet is affecting a customer's single OUTGOING send transaction, then what are they all about, anyway???

6. THE SOLUTION:

a. open a CEX/GHASH.IO account

b. give the BTC receiving address from CEX to cloudhashers via twitter. you have to send them the TXID. But really, this is not verification and everyone and their sister can spy on incoming btc to the  one and only cloudhashers.net BTC investment address.

c. hope for the best that they will honor your request, and not some hacker's or, gasp(!), another current customer's that cloudhashers already trusts.

d. CEX will automagically daily sweep your BTC account and send the amount to you AS A SINGLE TRANSACTION.

e. praise be!!!

These cloudhashers.net payouts are unsustainable  because it totally ignores future mining difficulty. Simple math folks.

I hope everyone understands this. At a certain definite time in the very near future, cloudhashers.net will simply stop all payouts and disappear.

PBMining (disclosure: I do have a stake there) is more sustainable because payouts are tied to difficulty (notice how the weekly payouts are a string of decreasing amounts.) Cloudhashers.net should do likewise if they expect to stay in the game.

Maybe not though ...probably still trying to figure out customers' outgoing btc spending problems...

Hey thanks for the great explanation!! Seems like am on the rigth track (hopefully) since I have already requested cloudhashers to send my payments to my cex.io address. Am just waiting for them to update it.

I will follow your lead and make a wallet at Blockchain. Can you please share with us how long did it took for you to receive the first payment?

Also, if you are willing to share any other information about your experience with cloudhashers, am all ears.

Thanks!

---> I have get first payout after one hour. bro

With stars in your eyes and greed in your heart, did you not see(?):

New payout address is set.

Great explanation! thanks a lot.
finally it's clear what you meant with fees. Guys don't use wallets which charge you for incoming transactions. Just don't use them. it is crazy.

Cloudhashers.net,  you still DO NOT UNDERSTAND. And it is this rather stubborn non-understanding that is worrisome to every sane person.

And I'm getting pissed.

No wallet charges for incoming transactions, ever. You did pay a fee to transmit it to our wallet addresses, this is true. But you paid bitcoin miners for this, not a "wallet" per se.

But we don't ever pay anything for incoming bitcoin transactions to our wallets.

But like you when we want to SPEND OUR BITCOINS, we customers DO HAVE TO PAY A FEE TO SEND OUT BITCOINS FROM OUR WALLETS to bitcoin miners, just like you did when you sent out bitcoin from your wallet to ours.

AN Example:

For the past few weeks, I've been getting a bitcoin payout in the amount of 0.0025 BTC every hour. I now got thousands of these tiny incoming transactions.

Let's say I want to send you 0.5 BTC. You give me an bitcoin address to send it to and in my wallet, I paste that bitcoin address of yours. Then I try to send out 0.5 BTC, and now all hell breaks loose...

...you see, I don't have 0.5 BTC available in a SINGLE transaction I got from you. No, every incoming payout from YOU to ME is just 0.0025 BTC (as an example).

So, what does my desktop wallet software (bitcoin-qt) do automatically? Bitcoin-QT wallet will send out 2000 transactions of 0.0025 BTC each (2000 x 0.0025 BTC = 0.5 BTC). So now Bitcoin-QT wallet has the 0.5 BTC to send, but what do you know.... Bitcoin-QT will add 0.0001 BTC FEE for each 1K in the transaction. Assuming here each transaction is 500 bytes, so for 2000 transactions, that's 1000K bytes. Bitcoin-QT will add 0.0001 BTC x 1000 = 0.1 BTC FEE.

So in this simplified example, Bitcoin-QT will add a fee of 0.1 BTC which will be paid to bitcoin miners for us to send you 0.5 BTC that involves 2000 incoming transactions. Our total outlay is 0.6 BTC to send you 0.5 BTC.

Us wallet users have the option of not sending any transaction fee but guess what, not adding a fee risks your transaction not being relayed by anyone and after a few days, the amount will be returned to one's wallet! So we are "forced" to pay a fee (especially for such a small amount of 0.5 BTC.)

Would it not be better for you cloudhashers.net to just send out ONE payout per day instead of your current TWENTY FOUR PAYOUTS PER DAY?

Please, please and please say now you understand the duress you are placing us under! (well the CEX hack it a great work-around. But still...)

For the example on your twitter where someone pasted a picture of his wallet accounting, the payouts you made to him totalled 0.00543864 BTC return, but the FEES TO SPEND THIS totalled .0061 BTC, A LOSS!!! That is why he said "UnProfitable Investment". He can't spend that 0.00543864 BTC ever.

Do you understand? It's spending that is the problem, not receiving. There are so many tiny payouts that the cost for bitcoin miners to handle a outgoing transaction is more than the btc amount is worth! Cause of what YOU DID by sending out tons of transactions!!!

It is rather stunning that you do not understand how bitcoin transactions actually happens in the most fundamental of ways...

One more quick example for completeness:

Say you sent me in one lump transaction, 1 BTC. Now I want to buy something on gyft that costs me 0.9 BTC. Using my trusty ol' Bitcoin-QT wallet, Bitcoin-QT says "wow, there's a 1 BTC transaction for me to use, I'll use it for my master's 0.9 BTC send request!"

So it transmits this 1 BTC transaction but only says "send 0.9 BTC to Gyft". But wait, that leaves 0.1 unaccounted for! So what's a ledger/blockchain pleasing wallet to do? Well, in the SAME TRANSACTION, it says to send 0.1 BTC to another bitcoin address.

Is thievery going on? No, Bitcoin-QT has automatically generated a new receiving bitcoin address for your wallet. This is called the "change" bitcoin address because it collects any "change" that results when an incoming transaction is larger than the amount debited.  

And this bitcoin change is available for your wallet's future use. And bitcoin-qt will "hide" this incoming change transaction from the history list. No additional transaction fee is necessary for this hidden incoming bitcoin as the fees were already taken cared of by the original 0.9 BTC payment to Gyft.

Sillywhim, are you sure that those transaction fee are a must? I'm very newbie, so maybe I'm wrong.
But in your local wallet, under setting-options-wallet, isn't possible deactivate those transaction fees? I read there, fee are optional... I'm wrong?
Probably these are optional and different from fixed fees as you talking about? Could you confirm?

Cloudhashers, i just made a deposit from address 19N1mzi191ZfuGounyGqeZLWAQKVFo1jAK. Please set the payment address to 1CuG1zXxbcwm54YZMQYsvatSM1vK349b3h as soon as you see this.

Thank you.

Just newly checked over the web today, and I have found that the site cloudhashers.net is now in some black-list as probably scam, as Ponzi scheme. Cause the owner has submitted to the public a fake photo of his hardware. Sure you didnt a smart move, and this is not confortable for us, your investors.
I know the say no pain, no gain. But from there, the distance to become cheated is very tiny.

Lab location in Norway (?), and server IP si located in Illinois USA. The owner registred name is Peter Till (? from Cypro), but I guess it's a fake name, since in some message here he said he can't relase more info for "privacy reasons".

Me, as many people (I think) don't care about knowing your real address or real name, but at least you kindly could give us some addictional info about the activity.
How do you can get electricity so cheap in europe? Which kind of cheap custom asic do you use? The actual cheapest price for scrypt hardware (available in the market now) is about 8MHs/BTC, and mining today you can get 0,20 BTC in one month (converted from 15 LTC). How you can pay to us five time this gain? Did you pay hardware less of 1/5 of actual quotation?
Your hardware is mining LTC or others scrypt criptos?
Are you an individual or are you a team?
How do you plan the asset of payouts when the difficulty grow next months? You'll bet everything for LTC growing this year, as never grow before?
To be honest I think you need to give us those infos about the risks.

In my opinion, the warranty of 365 days payout to investors could be possible with differentiated asset, but a little bit complicated. However we would like to know some of this thing by your voice.

So I'll repeat myself then:


Goggle "bitcoin miners fees"

That's not it. Cloudhashers doesn't expect LTC to grow, but to DECLINE THIS YEAR. They expect to mine more LTC in the future than they do now. They expect LTC mining difficulty to DECLINE, not increase in order to do these payouts. If LTC grows then that means mining difficulty grows and that means cloudhashers make less coin and that means eventually they'll be unable to do payouts.

Their Plan B disaster plan? They even expect to be able to throw enough ASICs into their mining pool to compensate for any increase in mining difficulty, presumably using our "investments". This is their business plan.

How do you feel now?

A "little bit" complicated???

So you're saying, in effect, that you do believe that a local joe in Illinois is able to achieve what donald trump can't, warren buffet can't...

...but he, a farmboy from some corn field in Illinois, can?  Actually a farm boy from Illinois did in fact achieve this ...Barrack Hussein Obama.

Objection withdrawn.

Hello, oh now I finally see what you mean. Just use blockchain.info wallet, they allow to send custom fee. For smaller deposits yes, this could be a problem. But most of the depositors like hourly payouts.
Actually there seems to be a simple solution to this, we can set up another deposit address for payouts once per 24 hours. Please confirm there's a need for this. If yes we will do it.

Cloudhashers, please change my address.

This all are valid concerns, we understand you. We're making more money then average miners due to some custom hardware, that's why we have to tread lightly. We will reveal more info though, after our operation has been completely set up.

Done :)

Thank you very much!!

Isnt there any other way to make this changes faster? Sorry to be rushing but it seems like you answer to this forum or twitter once a day :(

Hi, I just got back all my invest, now it's pure profit but I'm sitting on the fence whether invest again or not.

how much bitcoin moola did you make, anyhow?

I've deposited some btcs and everything seems like advertised for now!

Already got 6% returned in just a couple of days so based on this, its safe to deposit, but remember to do it with a desktop wallet or from blockchain.info  :)

We're trying to check it more often now, as soon as we have all new hardware and new pool set up we'll be more dedicated to customer support. But in any case no support request remained unanswered for more than 24 hours.

not much, invested 0.017 BTC, payout 2 000 satoshi hourly.
I would invest more, but you know .... I'm worried  

Not paid for 3 hours ago  :(
What's the matter?

Payments are being processed normally, please check your wallet

Mate, are you sure to having understood the implications?
The litecoin now it's more or less 100 time lower than bitcoin. Their payouts are made in BTC, and I don't think BTC will still grow 100 times by now.
If they mine LTC, and LTC value grow like BTC, substantially they have to make esbursment for payouts about 100 time less of today.

If diff grow 200% they just mine half of actually LTC, but likely the value will at least double. (I know that those parameters are not closely related, but today we can just take btc as previous experience, and the value yes, will grow with diff growing).

You know that since sha256 Asics become in the market, the btc value it's gone to the stars. It's possible that the same thing happen to ltc.

If difficulty decline, will mean less market volume and less interest by stock exc. for this kind of "goods", and the value dramatically will decline.
So in this case they can't pay btc if they mine ltc undervalued. Well, at this point cloudhashers.net would disappear very fast. For me this is the real risk.

With "little bit complicated" I mean that if they have a good plan, they have considered this eventuality and for example they can mine other scrypt cryptos like ftc or so.

Yes, I know, too many "if"... and I was hoping the owner could say us something about a sort of B plan, Not me or other ppl but him..
I hope he is a true badass in his work and he will provide a strong warranty for his investors. (also I know well a saying in my country: who live in hoping, die shitting...lol)

Beg your pardon.

The $1200 per BTC price came the end of November 2013 (eight months ago, an eternity in the mining world), when a miner with ONLY a Jupiter hashing @ 600 GH/sec made a killing (approx $30K USD profit return). Pure profit, nice-n-sweet. I know this because of I was one of those miners.

Today everyone and their mother are selling sha256 Asic miners and as a result, that former happy miner @ 600 GH/sec is getting squat for his mining efforts. Rigs are now in the TH/sec range.

The fiat value from that time to today has HALVED and the hashing power required is now several orders of magnitude. How exactly has "btc value gone to the stars?" Do you have any sense of history?

I remember when I had 7 asciminer blades (13 GH/s per blade) that got me around 80-ish GH/sec and I was mining at least .8 to 1.2 BTC EACH DAY. I just checked @ dustcoin.com and hold onto your seat, to get that much BTC will now require you to have a 35 TH/sec miner(s), a stunning increase of 58x.

That's right FIFTY EIGHT TIMES more hash required. Has the fiat value gone up likewise? Insultingly, no ---it has gone DOWN by HALF.

I would say that contrary to your observation, the ever increasing power of asics have REDUCED the yields of most miners in general and has LOWERED the fiat money return per X hashing power SUBSTANTIALLY, not raised anything.

Pretty soon only petahash conglomerates will be mining and us mom-n-pop at home mining operations will wither away.

One payment has indeed gone missing. The missing payout is bracketed by previous and then subsequent payouts.

I watch cloudhashers payouts like a hawk BTW.

From CEX (times are my local timezone, HST -10:00 GMT):

2014-07-03 07:11:00    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed 87dab390f00920afec57c82c9e3703...

2014-07-03 06:44:35    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed 9196f7b0c757111504d25a6f69bccf...

!!!! MISSING PAYOUT FOR THIS TIME PERIOD  !!!!

2014-07-03 04:11:04    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed 90f1a28d55fe5379f7f533b79b458f...

2014-07-03 03:11:02    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed 03d1af16406b755b9abb79290df0d3...

2014-07-03 02:10:58    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed a64c1f1542ffc9f72cc2cefefc3068...

2014-07-03 01:10:59    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed c08381e45136608110343cf26bc7ce...

2014-07-03 00:18:55    0.xxxxxxxx BTC   0.xxxxxxxx    DEPOSIT   -    Confirmed d5294cbdfcdc35d565013f700a0e51...

No sorry it does not work like that. You get 24 payouts per day, that is in a week you get 7*24 payouts.
But the exact payout time can vary.

Max.B

I re-read your post and I do understand the main point(s) you're making.

But consider:

ASICS are coming in a big big way to scrypt mining, more so than currently (alpha, knc, etc.) The miner "masses" are getting into scyrpt in a huge way very soon.

If bitcoin mining history tells us anything, it is that with this tidal wave of new scrypt miners come massive increases in scrypt difficulty. This is NOT TIED IN ANY SANE WAY to the value of litecoin vs fiat, or the value of litecoin vs bitcoin.

Counter-intuitively, this vast influx of new asic scrypt miners will not mean a massive increase of litecoin supply as like bitcoin, the generation of litecoin is tightly controlled. The real race is of course what miner gets to have a piece of the limited supply. As an aside, in the early days at one of the mining pools, my miners (80 GH/sec at the time) found ten bitcoin blocks. TEN. I highly doubt my current 10 TH/sec pool of miners will find ANY in their lifetime.

Just because there are tons of new miners racing each other for this limited supply of litecoins, why would the value of litecoins go up in fiat value? It didn't for bitcoin as I pointed out in an earlier post.

Mining any virtual coin is a wicked game indeed.

We don't mine litecoin, it doesn't make any sense now. We mine X11 coins (and similar algos like X13), using GPU farms and custom ASIC's. We use some techniques which make mining such coins much more effective, due to a certain weakness in their algo. We cannot reveal exact details for now, it can have a negative impact on profitability of our operation.

Aha aha!!!

DARKCOIN

Current exchange rate: 1 DRK = 0.013 BTC


Mining GPU with one 7970 card you will generate 0.5 DRK DAILY, or $0.40 (forty cents) and $12.40 monthly, all before electrical costs. GPU 7970 Card from newegg is $80 (before shipping, taxes and a rap on the head from your wife) and it's selling like hotcakes.

Sounds like a winner to me. Heehee.

Sure. That's why we can't reveal the full info, otherwise we'd earn amounts like you mention

Cloudhashers (aka Newbie):

Please don't REDACT and EXPUNGE all the fun parts of my postings...

Virtual coin mining is tragic enough as it is.

WE NEED SOME FUN.

Yours Truly,


sillywhim
(aka Jr. Member)

To anyone wondering if depositing BTC or not, I want to share with you that I've deposited 2.4 BTC but first deposited 0.01 BTC just to see whats up with this.

Believe when I say this... Cloudhashers have been paying consistently every hour (except once) 0.00325519 BTC and its great! I dont think you could find a better way to invest your bitcoins for now.

Hope this post helps anyone make your decision.

JMK

Depends on the confirmation of Bitcoin network. We send payments at the beginning of each hour, but when it is actually posted depends on confirmations of the network.

Hey Cloud! Just sent you a private message in Twitter, please answer as soon as you can.

BTW, my nickname on Twitter is PhenonMX

Well tablemining is dead.. so.. lets see about cloudhashers =)

(yes, its a ponzi scheme - lets see if we are the early investors)

Say this after you make back your 2.4 BTC you've "invested", not before...

By great I ment the hourly payments, not any final results... btw, stop b!tching... now I cant express my opinion/experience?

NO. It's too dangerous otherwise.

Give me $1500. In an envelope and deposit in a secretive location I will specify (bitcoin address).

Every so often, I'll drop a few dollars at your doorstep (your payouts.) You're not allowed to ask for my ID (bitcoins are anonymous) as you never asked cloudhashers for one. You can't sign a contract with me as you never signed a contract with cloudhashers.

You couldn't even identify farm boy cloudhasher if he walked right into you on the street (again bitcoin anonymity.)

I could go on and on.

Once the payouts stop, you will be left in the cold with no recourse chasing in vain after a person called "cloudhashers". Good luck.

Sounds like a good investment to you?

You wouldn't just hand over thousands of dollars to a total stranger on the street, promising 100% return in a month, would you? So why would  you completely turn off your natural wariness and alertness when on the INTERNET, of all places???

You don't make any sense at all.

I TRULY think you don't understand...

Sent a PM, go check it out please.

you think he doesnt understand ? I suppose that the PM cointains something like "dude shut the f up, we need to lure as many people to this ponzi as we can!"

Made a quick photo of our new location with my N9
Setting up new scrypt miners again now.
https://pbs.twimg.com/media/BryuECvCUAAlxt-.jpg:large

omg, a watermark? why don't you, just write: "CLOUDHASHERS.NET - 05 JUL 2014"  on piece of paper and put it on miners to be visible on picture?

:) Well I'll do that tomorrow, out of the office already. It is watermarked just in case.

That can still be faked though. You need to do something unique, like put shoe on equipment (http://knowyourmeme.com/memes/put-shoe-on-head).

10 days, payout full and continue
I hope that you keep this for 32 days more, i'll deposit more.
Thanks for hourly payout by admin.
I was restless

Exactly as you said.  Tried to send all 0.019 BTC and Armory offer me 0.015 BTC fee  :(

so what now? shall I sweep address to blockchain wallet?

Blockchain.info is the most appropriate for small deposits.

As promised https://pbs.twimg.com/media/Br4LaCiCUAAeWCV.jpg

...and it is pretty bothersome cloudhashers initially did not understand this (I still think they really don't even now).

What kind of confidence does this give you the customer?

It is too late for existing payouts. Not worth "spending" it at all.

What you can do though is like I outlined in past posts and go the way of CEX and let cloudhashers change the payout to what your bitcoin address is at CEX.

And then setup your Armory bitcoin address as the sweep bitcoin address at CEX and CEX will send out the multitude of transactions into ONE DAILY transaction and NO FEES to your Armory bitcoin address.

Cloudhashers has offered to create a once a day payout. Dunno exactly what they are waiting for.

No it isn't you stupid people.

Everyone needs to do the "CEX shuffle dance".

A truly great PHOTOSHOP of the original photo. Everybody, compare it for yourselves and see...

Frightening.

https://pbs.twimg.com/media/BryuECvCUAAlxt-.jpg:large

It's the same photo!

Wouldn't you think if this was legit, that after making the sign, you'd want to take a straight on shot, not angled? But basically this is the same photo as before...

I believe the photoshop'd "cloudhashers.net" photo is way darker than the original because cloudhashers had problems putting in a realistic reflection of the words "cloudhashers.net" and gave up ---and made the photo darker to cover up his ineptitude and the lack of a reflection. The original photo has very nice natural reflections in the area of the subsequent photoshop'd cloudhashers.net sign.


So dear "investors", how do you feel now?

Oh Cloudhashers, you're not even trying. Perspective on the 'sign' is all wrong, even if it wasn't the exact same photo, as pointed out by sillywhim.

I feeling lost my ivesting

Cloudhasher!!

frankly to said!!! when stop paying your site ? just i know how many days i have time to receiving !!! :-[ :-[ :'( :'(

Well the mining hardware on the pictures still looks exactly like the 200 GHS Asic SHA256 Miner from Wawaminer.com. ;)

Is there a magic trick that they can mine scrypt coins?!  ;D

Ah, and Wawaminer doesn't build any scrypt miner at the moment or did that in the past.

wawaminer.com huh?

...we are all gonna be crying "wawa" all the way home...

Watermark? Just in case what exactly?? Wawaminer should have watermarked it first so you couldn't steal it, you mean?

Oh, about this "out of the office already..." what a j0ke. You don't have an office farm boy. You just got right on that photoshop, didn't you? AND did one heck of a lousy job of it!

Scam - Scam
they....the prison...

Scam - Scam
they....the prison...

Scam - Scam
they....the prison...

we living by embarrassing  :-[ :-[ :-[ :-[to evry time

we should know we lost our invested :'( :'( :'( :'(

Scam - Scam
they....the prison...

may be have got holiday didnt answers ;D

We received many complaints about the transaction fees. We will have to re-code the system to mitigate the effects of large transaction volume (in bytes). The update will be over within 3-4 days and the payouts will continue.

AS PREDICTED: All Cloudhashers.net Payouts Have Stopped

Cloudhashers is saying they are re-coding the system. You decide. And what about the "shills" I've uncovered? (see below)

Last payout according to blockchain.info:

TXID:
https://blockchain.info/tx/03f617a8e534e2826090314d80688f5c058d4ca2119e20435569ec590b7f121b (https://blockchain.info/tx/03f617a8e534e2826090314d80688f5c058d4ca2119e20435569ec590b7f121b)

Date: 07 July 2014 10:18:45 GMT


URL to Check on Cloudhashers:
https://blockchain.info/address/15jBLCxe7bgGzG2Su4uXH2iSMZD9cefYfb (https://blockchain.info/address/15jBLCxe7bgGzG2Su4uXH2iSMZD9cefYfb)


    "Investors" Count: 148 Suckers
Total BTC "Invested": 212.864152 BTC (approx $135K USD)

Blockchain.info says 120.5 BTC ($76K) was invested. I derived the above 212.864152 BTC based on the latest payouts times 800 (given 3 percent daily "return" divided by 24 hourly payments, thus to get the principal, times by 800.)

 If the blockchain.info is correct however, that means that many of these payout addresses are in fact SHILLS and most likely be payouts to cloudhashers' own wallet.

Maybe a few hours will prove me wrong i.e. payouts continue but don't hold your breath.





Note: As a more complete post mortem, if someone is willing to slave thru all the blockchain.info regarding cloudhashers bitcoin address of:

15jBLCxe7bgGzG2Su4uXH2iSMZD9cefYfb

and attach as a file, I'll write a program to find out how much cloudhashers has paid out to us suckers. I will take blockchain.info's 120.5 BTC as correct and will adjust the results. My cloudhashers BTC paid out number will be accurate enough.

UPDATE: I just realized I can figure out who the SHILL bitcoin addresses are. Stay tuned for the:

 "SHILL RESULTS SHOW"

Scam - Scam
they....the prison...

Scam - Scam
they....the prison...

cloudhashers.net registrar
whois Updated 1 second ago
Domain Name:
CLOUDHASHERS.NET
Registry Domain ID:
Registrar WHOIS Server:
whois.publicdomainregistry.com
Registrar URL:
www.publicdomainregistry.com
Updated Date: 23-May-2014
Creation Date: 23-May-2014
Registrar Registration
Expiration Date: 23-
May-2015
Registrar: PDR Ltd. d/b/a
PublicDomainRegistry.com
Registrar IANA ID: 303
Registrar Abuse Contact
Email:
@publicdomainregistry.com
Registrar Abuse Contact
Phone: +1-2013775952
Domain Status:
clientTransferProhibited
Registry Registrant ID:
DI_36497364
Registrant Name: peter till
Registrant Organization: N/
A
Registrant Street: zeliekis
15
Registrant City: pafos
Registrant State/Province:
Pafos
Registrant Postal Code: 3654
Registrant Country: CY
Registrant Phone:
+357.4567708
Registrant Phone Ext:
Registrant Fax:
Registrant Fax Ext:
Registrant Email:
@yahoo.com
Registry Admin ID:
DI_36497364
Admin Name: peter till
Admin Organization: N/A
Admin Street: zeliekis 15
Admin City: pafos
Admin State/Province:
Pafos
Admin Postal Code: 3654
Admin Country: CY
Admin Phone: +357.4567708
Admin Phone Ext:
Admin Fax:
Admin Fax Ext:
Admin Email:
@yahoo.com
Registry Tech ID:
DI_36497364
Tech Name: peter till
Tech Organization: N/A
Tech Street: zeliekis 15
Tech City: pafos
Tech State/Province: Pafos
Tech Postal Code: 3654
Tech Country: CY
Tech Phone: +357.4567708
Tech Phone Ext:
Tech Fax:
Tech Fax Ext:
Tech Email:
@yahoo.com
Name Server:
ns1.cloudns.net
Name Server:
ns2.cloudns.net
Name Server:
ns3.cloudns.net
Name Server:
ns4.cloudns.net
DNSSEC:Unsigned
URL of the ICANN WHOIS
Data Problem Reporting
System:
http://wdprs.internic.net/
>>>Last update of WHOIS
database:
2014-07-07T23:53:45+0000Z<<<
Registration Service
Provided By:
DOMAINS4BITCOINS.COM

Scam - Scam
they....the prison...

http://images-resrc.staticlp.com/C=W788,H760,X0,Y0/S=W394,H380/http://media.lonelyplanet.com/a/g/hi/t/59ac262877dd94a5cc5cf1c11827ee97-top-things-to-do-in-cyprus.jpg

Cyprus, The Land of Cloudhashers

Signed on June 24, stated getting payouts right away, every hour until 7/7/14 at 6:18 AM EST. Nothing since. Why suspend payouts while rewriting scripts? Totally unnecessary. And who are all the complainers about transaction fees? Sounds like a crock of sh&t to me. I'm feeling more than a tad scammed right about now. Serves me right I guess for turning a blind eye to the "if it sounds too good to be true..." maxim.

You feel this way because you are a complete bitcoin novice.

YOU DO NOT UNDERSTAND THE PROBLEMS OF EVERY HOUR PAYOUTS. This makes investing small amounts, say 0.01 BTC totally unprofitable because of transaction fees.

So now cloudhashers is "working" on converting everything to once a day payouts, which will make investing  small amounts like 0.01 BTC profitable.

If you do not understand this, then again, it is because you are a complete bitcoin novice and a frightfully strident one at that --the worse kind.

Well, guilty as charged as to being a bitcoin novice.



That, however, is not correct. I'm fully aware of the inherent problems associated with hourly payouts. Perhaps I didn't make myself clear; my concern is that Cloudhashers is using that as an excuse to fold up their tents and steal away with everyone's deposits. From a programming standpoint, there's no reason to suspend payouts while you work on changing the payout algorithms. The coding and testing is done off-line and the only interruption should occur when you have to take the system down to implement the changes.


You might want to check the status of your caps lock key before carping about my stridency.

I was able to send the entire contents of my wallet (.028 bitcoin) to itself using blockchain.info's "custom transaction" and set a fee of .0001 bitcoin which is currently about 6 cents USD.
This seemed to work fine to clear out my "dust" transactions and it confirmed in a little over an hour.

A misunderstanding then. No harm, no foul.

You could easily do this also in the desktop wallet, bitcoin-qt i.e. even setting "0" as a transaction fee. But doing this makes you a bad bitcoin net citizen and it really increases the traffic that miners have to deal with if they decide to handle your transactions.

The main point though should be why was cloudhashers doing hourly payouts to begin with? They seemed completely oblivious to the consequences. Completely. Other wallets have built-in transaction fee schedules that can not be altered by users. Yes, these particular users could switch wallets but that begs the question of why there are hourly payouts at all.

I once asked about this point blank to cloudhashers. Their reply "...our users appreciate the hourly payouts..."  I think these "users" must've been photoshop'd.

I'm a novice too. This thing about fees is a very crap. And this is just another of many reasons that why btc will never take off.
So in example, if I receive 0,1 btc with ten incoming transactions, to spend 0,1 I have to pay ten transaction fee? This is the most ridicolous system to cash and spend money.
Probably after the speculative bubble of this year, btc will decrease his value close to Zero, because this bullshit make wallet menagement not clear for most of people.. bah maybe I'm wrong..

I sure hope cloudhashers starts paying again soon.  I was ready to dump a lot more money into them once I hit my first 30 days. 

Even if this is a sc@m, they'd make more money if they keep paying, as long as they continue to take in more than they're paying out.

Hold on a second...

When the bitcoin protocol was first formulated, it was envisioned that eventually all possible bitcoins would have been mined (a hundred something years from now, really.) At that time it was believed that the bitcoin economy would be very mature and viable.

To incentivize miners to continue "mining" sans bitcoin rewards, the transaction fees alone would provide a good reward to the miners.

Currently, the voluntary transaction fee is 0.0001 BTC per 1K of transaction size payload. Each bitcoin transaction that occurs (go to blockchain.info and watch 'em stream in) is around 200 to 500 bytes. So you can have multiple previous incoming transactions go out under that 1K size (and it is still voluntary as of now.)

So if you have in  your example, ten transactions that amount in total to the btc you want to send out, you may have to pay 0.0002 BTC to send it. Again, currently it is voluntary (but that can change real fast in the future.)

Do you know how much it costs the merchant to accept credit cards? How much it costs to send a bank wire? How much western union charges? How much a postal money order costs?

Bitcoin is a tiny tiny fraction of all these methods of money transmissions. And this tiny tiny fraction oddly threatens the very structure of the banking system and interest rate implications clearly going back over two thousand years at least.

I think for this point alone you'd be happy to pay under ten cents for your bitcoins.

Which is the very definition of a Ponzi scheme.

From Wikipedia, the free encyclopedia:
"A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme." [1]

[1]  "Ponzi Schemes – Frequently Asked Questions". U.S Securities and Exchange Commission. U.S Securities and Exchange Commission. Retrieved 23 June 2012.

If it turns out that Cloudhashers is operating along the lines of this model then they have been disingenuous at best in their marketing pitch. After all, they advertise themselves as providing a guaranteed return investment opportunity, not an opportunity to participate in a gambling venture (which all Ponzi schemes are). Cloudhashers claims the ROI on deposited capital comes from their scrypt mining operation and then elaborate on why they can offer such high payouts (proprietary hardware, advances algorithms and cheap electricity). Perhaps they're truthful, perhaps not. The reality of the situation remains to play itself out. Either Cloudhashers will resume paying on an altered schedule and activate the promised mining multipool or they won't. We'll see.

Agreed.

Since the stoppage of Cloudhashers payouts 2014-07-07 10:18:45 GMT, there have been 11 investments (some bogus) totalling 0.29221338 BTC or $181.76 USD.

As a part-time ponzi scheme analyst I, sillywhim, conclude that the cloudhashers ponzi scam still has some legs to it and that payouts should continue in order to attract more dummies.

SCAM is SCAM

Scam - Scam
they....the prison...

Sorry to say this.. but nothing unexpected..

Scam - Scam
they....the prison...

vn2359 you have info?

Scam - Scam
they....the prison...

Scam - Scam
they....the prison...

Stop your crying everyone. We Gambled. We Lost.

...whatever else is there to talk about?

   
 
If you considere this gambling maybe this is not what the law says.
 
keep your comments for you!

Scam - Scam
they....the prison...

Your fault for blatanty falling for an obvious scam.

This is Gambling. You have all gambled.

Investment? 100% return in a Month? Each month 100 %, for an entire year?


hahaha.

What investment in the entire world returns 100% in a month? NAME ME ONE. What investment returns 1200% in a year, NAME ME ONE.

...and if you can't name me one, then this isn't investment at all, is it? IT'S GAMBLING.

Bye-Bye Bitcoin!

True, this was smelly from beginning. All investors can blame only themselves, for being so stupid and naive.

I hope you all learned a lesson and next time will double check before investments like this one.

"Cloud Hashers" not paying!

Scam - Scam
they....the prison...

Results already in. I gambled and I lost. You gambled and you lost.

Not much more to this, is there?

A Lesson We've Learnt the Hard Way

Not a gamble you were scammed and conned you greedy fuckers.

Whoever here says "FBI on them" should call FBI on themselves. It was obvious ponzi scheme, copy of bitponzi.io . I told you alrdy.

Money is lost, get over it. Next time, invest into something that has been here for longer time, like Bitcoin Trader (https://bitcoin-trader.biz/?ref=Didldak), where you can earn like 1% per day

1% a day is also unsustainable for bigger investors. Likely for small deposits it works, but put in 100 BTC I and doubt you will earn 1 BTC daily.

Not gonna lie, I just have $100 there and every workday it actually makes around 1%... just testing it really, but to be safe - just put your BTC on cold storage, maybe 80% of them, and try to somehow "gamble" (NOT BY DICE PLEASE) remaining 20% for little profit.