is cloudhashing.com a scam??

[scotjam]

This just means that BFL is scum and is fucking with customers who paid +1 year ago, giving priority to Cloudscam who is buying mini-rigs through the back door.

That may be true, although I don't know when CH placed their orders. What we can see though, is that CH is not delivering the advertised hashing rate to their customers, which either means BFL is unable to fulfill orders on time even for "priority customers", that CH is allocating hashing power somewhere other than to its customers, or that CH hasn't ordered enough / doesn't genuinely expect the hashing power to come online when they say it will.

It would be very informative to know when CH expects to be able to provide the full hashing power to its customers, and to see whether or not that is achieved.

[joae1975]

Note that cloudhashing no longer includes BFL as one of their mining providers. Correct?

[vaporpens]

Hey guys, i'm another cloudhashing contract holder.  Bought indefinite contract for july.  I paid over $1000 for the market price around june for 5Gh/s.  If they actually gave what they stated, a July start date at 5Gh/s I would of been happy.  At the time of purchase I had read that there was gonna be a June 20th start date.

With the delays and partial mining power I'm receiving, the market price I paid at the time is not justified and it seems kinda screwed up for early investors.  Whether it was out of good faith or not, $/Gh is dropping by the day and I think investors that were delayed should be reimbursed or compensated.  But it is an investment...

What i'm upset with is that while we are mining at limited capacity and while CH is struggling to obtain full capacity for existing contract holders, they are still selling Sept contracts!  If i'm not mining at 100% rate that I paid for by Sept, then CH shouldn't be selling Sept contracts!

Also what irks me is insufficient numbers and updates from cloudhashing.  This was an investment and there are a lot of numbers involved. Hash rate, downtime, capacity, reinvestment, commission. etc.  All they do is drop a random amount of money into my wallet and I have no idea what's going on.  Need waaaay more transparency and these numbers are not hard to provide if they are keeping track as they should be to supposedly be paying us out appropriately.

If you haven't invested yet, I would say don't bother.  Early investors are getting screwed and investing in complete black box.  I will update with more info if anything changes.

[joae1975]

Hey guys, i'm another cloudhashing contract holder.  Bought indefinite contract for july.  I paid over $1000 for the market price around june for 5Gh/s.  If they actually gave what they stated, a July start date at 5Gh/s I would of been happy.  At the time of purchase I had read that there was gonna be a June 20th start date.

With the delays and partial mining power I'm receiving, the market price I paid at the time is not justified and it seems kinda screwed up for early investors.  Whether it was out of good faith or not, $/Gh is dropping by the day and I think investors that were delayed should be reimbursed or compensated.  But it is an investment...

What i'm upset with is that while we are mining at limited capacity and while CH is struggling to obtain full capacity for existing contract holders, they are still selling Sept contracts!  If i'm not mining at 100% rate that I paid for by Sept, then CH shouldn't be selling Sept contracts!

Also what irks me is insufficient numbers and updates from cloudhashing.  This was an investment and there are a lot of numbers involved. Hash rate, downtime, capacity, reinvestment, commission. etc.  All they do is drop a random amount of money into my wallet and I have no idea what's going on.  Need waaaay more transparency and these numbers are not hard to provide if they are keeping track as they should be to supposedly be paying us out appropriately.

If you haven't invested yet, I would say don't bother.  Early investors are getting screwed and investing in complete black box.  I will update with more info if anything changes.

Okay, now this is where the thing about regulation comes into play.  Regs to keep the operators honest.  CH could release a report of the number of contracts they sold vs the hashing power they bought, the investments made, the salaries paid, etc...  Things is, how do you know if it's the truth unless there's a regulating body.  I don't think the regulation should come from government.  It should come from the community in the form of an organization or something.  Like the Better Business Bureau in the US, but not as crooked.  For now it's going to come from us.  I'm warning people to not buy contracts as of right now until they start paying what they say they will.  Or until they get honest with the numbers.  I think they're depending heavily on KNC though.  Probably getting like 1000 Jupiters, LOL!  Maybe we'll see some good earnings after Sept.

[vaporpens]

@joae1975 if cloudhashing worked like asic miner, then things like contracts sold, income made, salaries paid, etc would be even more relevant and may need 3rd party auditing.  What i liked about cloudhashing's pitch was the very trackable ability w/o needing to know the info above.  We buy a set hash power and we can track publicly known difficulty.  The only thing that's unknown is unexpected downtime, but that could be also be compared with industry standards (eventually).   

The problem is they giving "partial" hashing power with no set number or reporting and expect investors to stick around?  Well people should learn from my early investing that they are not ready.  I have no idea what rate CH is hashing nor do i know what hash rate they are paying me at.

I think regulation of BTC might be against the founding principle of BTC since there is enough transparency within the system if implemented correctly.  I dont' really know.  I'm still a bitcoin newb.  But anyway, CH, please start posting numbers!

[philipma1957]

well on tues they will send out earnings.  I have two payoffs so far .102 and .176 total of .278 btc I will post what comes on tues

[philipma1957]

payments are not up and it is weds.

 not good.

[cloudhasher]

payments are not up and it is weds.

 not good.

Hey,

Payments will be processed within 12 hours. A mixture of technical issues and illness delayed us this time.

Thanks guys


Kind regards

[philipma1957]

payments are not up and it is weds.

 not good.

Hey,

Payments will be processed within 12 hours. A mixture of technical issues and illness delayed us this time.

Thanks guys


Kind regards

thanks for up date

[joae1975]

payments are not up and it is weds.

 not good.

Hey,

Payments will be processed within 12 hours. A mixture of technical issues and illness delayed us this time.

Thanks guys


Kind regards

thanks for up date

I went to work sick as a dog a couple weeks ago.  For simple illnesses like colds and such, you must suck it up, it's no excuse.  This makes us nervous.  It can also discourage future customers.  I hope you're okay/well and I hope there's not just one guy running things.

[cloudhasher]

payments are not up and it is weds.

 not good.

Hey,

Payments will be processed within 12 hours. A mixture of technical issues and illness delayed us this time.

Thanks guys


Kind regards

thanks for up date

I went to work sick as a dog a couple weeks ago.  For simple illnesses like colds and such, you must suck it up, it's no excuse.  This makes us nervous.  It can also discourage future customers.  I hope you're okay/well and I hope there's not just one guy running things.

Dude relax !!  Not going anywhere.

[philipma1957]

My account says I will be paid .211 btc today.  not sure what percent that is.  so far I have been paid

 .106 btc  aug 9
 .172 btc  aug 23
 .211 btc  today

comes to .489 btc so far.  or about 59 usd on todays btc price at coinbase.  i paid in 717 usd in june

[joae1975]

My account says I will be paid .211 btc today.  not sure what percent that is.  so far I have been paid

 .106 btc  aug 9
 .172 btc  aug 23
 .211 btc  today

comes to .489 btc so far.  or about 59 usd on todays btc price at coinbase.  i paid in 717 usd in june

Me too, we must have the same contract, 5Gh indefinate.  I paid $1021 in April.  What's up with that?

[cloudhasher]

My account says I will be paid .211 btc today.  not sure what percent that is.  so far I have been paid

 .106 btc  aug 9
 .172 btc  aug 23
 .211 btc  today

comes to .489 btc so far.  or about 59 usd on todays btc price at coinbase.  i paid in 717 usd in june

Me too, we must have the same contract, 5Gh indefinate.  I paid $1021 in April.  What's up with that?

One is an indefinite and the other is a 1 year contract :-)

[philipma1957]

confirms are in on todays payment. of .211  what was the percent on this one?

[cloudhasher]

confirms are in on todays payment. of .211  what was the percent on this one?

~40 as hashing power came on towards the second week of earnings. We have more gear coming online next week.

Thanks

[luicon]

if i get a platinum contract for 1000$ at 20GH

i should get back 3,4 btc first month, is that going to happen?

http://mining.thegenesisblock.com/a/2e1cb8b86b

[joae1975]

if i get a platinum contract for 1000$ at 20GH

i should get back 3,4 btc first month, is that going to happen?

http://mining.thegenesisblock.com/a/2e1cb8b86b

LOL!  No!

[luicon]

why? calc is  correct, whats wrong? payments are not based  o the real hasrate contracted?

[joae1975]

why? calc is  correct, whats wrong? payments are not based  o the real hasrate contracted?

Currently, if you mined on your own with 20Gh, you'd be lucky to get ~3.4 BTC per month.  And that's at current difficulty with a 3% pool fee.  Assuming a 30% fee from CH, as stated here, and a 10% management fee, you would receive ~2.04 BTC/mth, at current dif.

Difficulty is going up in a couple days and CH takes more than 3% of your mined btc's.  That and they are not at 100% capacity yet.  No one knows when that will occur, we're all at the mercy of the Asic manufacturers.  The next estimated difficulty is ~106 mil.  That's ~2.85 btc per month mining on your own.  With the CH 40% fees tacked on, that's ~1.71 BTC per month.

Again, these figures are estimates and are dependent upon CH at 100% capacity.  I'm only estimating the first month of hashing.  If you bought a 20Gh, 2 year contract now, you won't see a payment until late nov/dec, imho.  I think their promises are very overestimated.  Unless BTC price jumps, you won't make that much.  I definitely think you'll money if you're disciplined about saving your BTC.  It's a better bet than sticking your money in a money market account or CD, that's for damn sure.  Again, imho.  Or you could just buy some gold/silver, you're good there too.  OR just buy the BTC right out.  This is purely speculation and very risky.  That $1000 must be money you're willing to lose, not depend upon.

To fully answer your first question, NO, you will not get 3-4 BTC in the first month.  You'll be lucky to get 1.