Bitcoin Forum

So I came to bitcoin in April of 2013, when it hit $300. With a ton of other people, I imagine. GPU's and eventually erupters. But I was making only 0.01 or 0.02 btc daily and so I saved up and bought a mining contract from cloudhashing.com in September. I was so pysched by the idea that I immediately bought a second one. For a total of approx. 9 btc, I had one "Bronze" 2 GH/s year contract and one "Platinum" 20 GH/s two-year contract. I was pumped. I would lean back, put my hands behind my head and wait for blowjobs.

Well, the entire experience was choppy. The first order I bought was through bitcoinstore (reseller -- I have alerted him to this scam, and I'm sure he'll stop reselling), and didn't convert into a cloudhashing order immediately. The second order wouldn't let me update my wallet address immediately, so I reached out to the guy, who updated it manually.

So in October, I look at the "dashboard" (not much of one, I'd say) and it says, obliquely "Mining." That's it. So I email the guy again, and he says the payout is biweekly, but they are moving to payouts every 3 days in just a few days. Okay. So I wait a few days. No bitcoins. No payouts. Nothing. Well, I check his twitter feed and it says the same thing "We are moving to daily payouts in a few days", dated September 14 or something ... So I contact the guy and he says, no, no, biweekly. He says nothing more about daily payouts.

Whatever. So I wait. And wait. It's October 18. Hm. Maybe he doesn't know the difference between biweekly and semiweekly, but... semiweekly means I should have been paid 4 times already. So I write the guy and he writes back, "Your payments will be handled solely by the mining pool/ This should be launched within the next few days."

????

He must think I am retarded. Which I fucking must have been to give him my bitcoins. I wrote back that I would rather have the mining contract than the refund, and that I would extend my trust to the end of October. Which I did. Then I asked for a refund.

And get this! This is the best part. He writes back, "Your orders are past the refund processing threshold as noted on our terms and conditions." HAHA!  Does it say anything in the terms and conditions about biweekly bitcoin payouts? Probably! But I haven't seen a single satoshi.

So, walks like a scam, talks like a scam, it's a duck.... I mean a fucking scam.

Be warned.
Thank you,
JJ

thanks for the information

i have done mining contracts for people and earned them quite a nice profit

it is one of the most rewarding things i have ever done  :)

my customers also showed immense satifaction on recieving their coin

i offered just sole contracts for hashing power

their was no grouping of customers/pooling or anything like ive seen

with other similiar offers which all seem to indicate that if not enough

people buy the contracts then the equipement may not be

purchased or mined ontime

Damn that sucks. I think cloudhashing was ousted as a scam a few months ago.

There is many threads stating they have  been unreliable and called out to be a scam a few times.

Woulda, coulda, shoulda... but DIDN'T!  (Do 'due-diligence')

Greed got the better of me.

I ask for no pity! But now there is ONE more thread calling it a scam.

As I suspect you've meanwhile realized, this would be the root of the problem. Value doesn't appear in a vacuum, you must work for it. There's no requirement that you build everything yourself, but at a minimum you'll need to do the work of researching, understanding, and verifying.

A lot of people have indeed showed up this past spring, many of whom have fared worse than you, many of whom are still in the process of pissing time and money away on scams that will keep recurring so long as as the principle of work is eschewed in favor of "I'd like to be rich now, who wants to make me?". I'd say your fairly mature attitude towards your own failure suggests you're at least a step ahead of that crowd.

So welcome, read up (https://bitcointalk.org/index.php?topic=106391.0), and don't fuckin' do it again.