Bitcoin Forum

Update:   A double payout was received overnight.  Sorry, looks like a false alarm.

"As of yesterday,  Zeushash.com has for the first time defaulted on making it's daily mining payouts.  In the meantime the company has made no effort to communicate to customers an update of whatever technical difficulties they may be experiencing.  This appears to be affecting both GHS and MHS contracts.  Leading up to this, mining fees had reached the point of eating up over 95% of daily litecoin mining rewards."

ZeusHash is finished. RIP
Next one... Gaw ? GenesisMining ?

I got a payout yesterday morning from zeushash, it took a while for the transaction to go, but I did get one.

93.45% fees yesterday script payout

no payout today...

Look by yourself customers happiness

https://zeusminer.com/forums/forum/zeushash-2/

my letter to ZeusHash:

Zeushash,

Like my subject say, What's going on? I would like some resolution with my payment it's already bad that you take more than half my mined coins.

I hope it's a bug that your actively fixing and looking for a positive resolution.

I will not send another email asking for my coins
If this is not resolved by next Wednesday, I will start legal proceeding agains this company I don't care what I have to spend to make this bitcoin space safe..

Regards

Oh you do not want to go to GAWS!!! I went from GAWS to Zeus.... believe it or not Zeus is a little better not much but a little better than GAWS.

 Dear rdjerdtsie,

I hope this finds you well.

Glad to see that you have a positive attitude towards us getting this resolved, but why attack Snowya?
His concerns are valid, I know you have alot riding on this company as your right below me on total hashing power..

Regards,
SkullandHeadphones

Interesting...   Maybe its because they are partnered and GAW used Zeus Miners Chips.

my ZeusHash BTC hash power paid out, Must be a Sad day for LTC.

Well Good thing Im mining RIPOFF COIN! hahahah

ROI is 3889 days on ZeusHash script mining contract.

3889 days

Each ZeusHash script MH is paying 0.001174537 LTC = 0.00411088$ a day
Each ZeusHash script MH is sold 15.99$

15.99 / 0.00411088 = 3889.678122446 days

10 years ^^

And they continue to sell contracts, they even want us to promote them with monkey offers... pitiful

And ROI was 134 days on SHA256 mining contracts sold in October. What do you want to prove ?

IT'S TIME TO MAKE A STAND.
 
I'm waiting to hear from this law firm http://www.mushkinlaw.com/contact-us.html
I will keep everyone updated on this once they reach out to me.

Nothing. Just facts : 3889 days ROI.

If the maintenance fees/electric fees are eating up this much of the total payout then this could easily be explained by even a small amount of bad luck. Assuming that they had 100% luck the prior day, they would only need to have ~95% luck in order for the fees to eat up all of the mining payout.

Zeus is partnered with GAWs?  ??? I didnt know that else I would not have bothered with Zeus, the old saying about birds of the feather

birds of the feather flock together and poop on everything below them.

I am only mining BTC and it paid out so I cannot say anything bad about zeus. But I do not have much money into Zeus I generally will not put much $$ into a "cloud service" for at least 90 days... I like to keep my lessons cheap, Gaws was a .005 lesson and if Zeus falls apart it will be a .009 lesson for me.
 

From their website:

Maintenance Fees
ZeusHash charges a small amount of maintenance fees for running our mining farms. ZeusHash reserves the right to adjust the fees based on our overall cost.

I dont understand why anyone would enter a contract with such terms, but that aside, what maintenance fees was zeus charging for SHA?

How would it not be fair for them to pass along their actual costs associated with running their miners?

I would say that it would be suspicious if anyone were to offer a fixed price for electricity over the course of a contract when such company has little to no way of being sure that is the rate they will end up paying for the electricity they use.

electricity rates for industrial use like datacenters dont just randomly change. They are contractually set typically for several years within a (small) window
A term stating the fees could change by a maximum of x% every y years would be fine. But with what they did put in, they can double it tomorrow, rendering your GH and MH literally worthless.

It is possible that datacenters could hedge the price of electricity via futures contracts or other similar securities, however doing so will result in a slightly higher price of electricity (as they will need to pay for the cost of the trade). Some may decide it would be better to have their customers pay the "spot" price of electricity to avoid the cost of hedging the cost of electricity plus having the possibility of electric costs decreasing.

Also even a several PH farm would not take up more then several thousand square feet (maybe closer to 100k square feet) which is hardly "industrial" sized

PBmining dead and ZH almost dead, so whats next maybe Gaw i think....

Who cares about size, its about electricity capacity.

From their website:
ZeusHash currently maintains approximately 5% of total Bitcoin (SHA-256) hashrate and 10% of total Litecoin (Scrypt) hashrate

If you believe anything they say, SHA alone would be ~14PH which would on the order of 7-10MW and which is in the same ballpark as KnC:

https://pbs.twimg.com/media/BrxyUeUCUAASNcy.jpg:large

For people not even having a Zeushash Account but still trash talking here, let me say to you we got a double payment today (14th Dec.)... Yep, ZeusHash is not dead.

Once again, stupid people think they could give false news just because Zeushash got a incident on payout. Guys, please be serious and stop rumors.
BTW, someone was asking what are the fees on SHA256. Here are the numbers :
Mid october, fees were nearly 60% of the payout. The lowest point is 18th Nov with 45,99%, and it's raising again since, up to yesterday with 52,51%.
I saw some bad comments about electricity costs that should not vary, but could you tell me how they are paying electricity bill ? With BTC ? No, with US $, and they should make the fee varying with the change rate of BTC.

Have fun, thread should be closed.

Doh.  thats what what everyone else does: define the fees in dollars or euro. Thats something else as a contract that essentially states "we will charge whatever the heck we want to charge".