is cloudhashing.com a scam??

[Cummins59]

They have been paying me out .03 every 4-6 days.
So far I have been paid out .5 BTC on a January contract, so they do pay.

[Jonesd]

They have been paying me out .03 every 4-6 days.
So far I have been paid out .5 BTC on a January contract, so they do pay.

My contract I got at the beginning of january started on February 10. I have 0.0087 BTC now ,reinvesting 30%, so actually a little over 0.01. What amount of Ghs doe you have and did you start on January 1st?

[Cummins59]

They have been paying me out .03 every 4-6 days.
So far I have been paid out .5 BTC on a January contract, so they do pay.

My contract I got at the beginning of january started on February 10. I have 0.0087 BTC now ,reinvesting 30%, so actually a little over 0.01. What amount of Ghs doe you have and did you start on January 1st?
[/quote

Jan 1, 70 GH/s

I decided not to reinvest into GH/s but to invest full proceeds elsewhere.

[vga]

I have a 100gh/s contract that started on Feb. 10. So far, after a 30% reinvestment fee and a 10% management fee, I have earned 0.0616 BTC. The total earnings if you do not subtract the fees are .1 BTC.
Thoughts?

[msc]

I have a 100gh/s contract that started on Feb. 10. So far, after a 30% reinvestment fee and a 10% management fee, I have earned 0.0616 BTC. The total earnings if you do not subtract the fees are .01 BTC.
Thoughts?

That's about right.  You should be making 0.36 per month so far, but the difficulty is due for an increase shortly.

[Jonesd]

I have a 100gh/s contract that started on Feb. 10. So far, after a 30% reinvestment fee and a 10% management fee, I have earned 0.0616 BTC. The total earnings if you do not subtract the fees are .1 BTC.
Thoughts?

I have a 20Gh/s contract and earned 0.014 BTC with the 30% reinvestment and 10 %management fee.

[Cummins59]

I have a 100gh/s contract that started on Feb. 10. So far, after a 30% reinvestment fee and a 10% management fee, I have earned 0.0616 BTC. The total earnings if you do not subtract the fees are .1 BTC.
Thoughts?

I have a 20Gh/s contract and earned 0.014 BTC with the 30% reinvestment and 10 %management fee.

I would just keep the BTC and not reinvest. The way things are going in the BTC market, take what you can whenever you can.

[Jonesd]

I have a 100gh/s contract that started on Feb. 10. So far, after a 30% reinvestment fee and a 10% management fee, I have earned 0.0616 BTC. The total earnings if you do not subtract the fees are .1 BTC.
Thoughts?

I have a 20Gh/s contract and earned 0.014 BTC with the 30% reinvestment and 10 %management fee.

I would just keep the BTC and not reinvest. The way things are going in the BTC market, take what you can whenever you can.

You're probably right, but out of curiosity, I'm gonna check it out. I'm just over two weeks in (since 10/2) and these are the results:

Results after two weeks

Total Earnings: 0.0514 BTC
Management Fee: 0.005
Reinvestment: 0.015 (0.011 left)
BTC left: 0.0314

Part of the reinvestment already appeared as a new worker with the following specs:
592.97 Mh/s   02/24/2014   02/24/2015

I'll show you the results in two weeks time.

One thing I don't like is that the communication is quite scarce. I had no idea, they added the extra worker.

[vga]

I just noticed there are new contracts available. I'm tempted by the new Gold contract which works out to about $10.80 per Gh/s. Will someone talk me out of this?

[LostDutchman]

I just noticed there are new contracts available. I'm tempted by the new Gold contract which works out to about $10.80 per Gh/s. Will someone talk me out of this?

Don't do it or I will boil your puppy!

[vga]

I just noticed there are new contracts available. I'm tempted by the new Gold contract which works out to about $10.80 per Gh/s. Will someone talk me out of this?

Don't do it or I will boil your puppy!

That's fairly convincing. But is there a mathematical reason why this is a terrible idea? Or is it just a reasonably risky idea?
I do like my puppy.

[Kouye]

That's fairly convincing. But is there a mathematical reason why this is a terrible idea? Or is it just a reasonably risky idea?
I do like my puppy.

If you like it, just don't do it.
Look at the news, it's not wise to send your bitcoins to third parties, and even less when they smell like ponzi.

[vga]

That's fairly convincing. But is there a mathematical reason why this is a terrible idea? Or is it just a reasonably risky idea?
I do like my puppy.

If you like it, just don't do it.
Look at the news, it's not wise to send your bitcoins to third parties, and even less when they smell like ponzi.

I will not be sending bitcoins. I will pay with dollars and receive bitcoins. Does it seem like a bad deal? They are paying.

[msc]

I will not be sending bitcoins. I will pay with dollars and receive bitcoins. Does it seem like a bad deal? They are paying.

I'm happy with the payout right now, but our only hope is that the difficulty stops rising so fast.  The cost of mining is getting pretty high, so we may not see a whole lot of new miners.  But a lot of existing miners will probably continue investing in hashpower.

I paid in BTC and hope to recover the same amount of BTC.  By investing dollars, you only need a dollar profit, which might be easier if the BTC price rises.  Still, if I had it to do over again, I'd just buy as much BTC as possible and keep it all in storage.

[vga]

I will not be sending bitcoins. I will pay with dollars and receive bitcoins. Does it seem like a bad deal? They are paying.

I'm happy with the payout right now, but our only hope is that the difficulty stops rising so fast.  The cost of mining is getting pretty high, so we may not see a whole lot of new miners.  But a lot of existing miners will probably continue investing in hashpower.

I paid in BTC and hope to recover the same amount of BTC.  By investing dollars, you only need a dollar profit, which might be easier if the BTC price rises.  Still, if I had it to do over again, I'd just buy as much BTC as possible and keep it all in storage.

So, therefore, I would not be completely crazy to consider a contract, correct? There are others who are purchasing contracts with sound reasoning, correct? There may be better ways but it seems easier than going through an exchange and purchasing BTC.

[msc]

So, therefore, I would not be completely crazy to consider a contract, correct? There are others who are purchasing contracts with sound reasoning, correct? There may be better ways but it seems easier than going through an exchange and purchasing BTC.

It's a gamble.  The only reason to do it would be if you think mining is a profitable business.  And keep in mind that in 2.5 years, the block reward drops from 25 BTC to 12.  If you just want to buy BTC, I recommend using an exchange.

[vga]

So, therefore, I would not be completely crazy to consider a contract, correct? There are others who are purchasing contracts with sound reasoning, correct? There may be better ways but it seems easier than going through an exchange and purchasing BTC.

It's a gamble.  The only reason to do it would be if you think mining is a profitable business.  And keep in mind that in 2.5 years, the block reward drops from 25 BTC to 12.  If you just want to buy BTC, I recommend using an exchange.

But there must be many other who believe it is an ok gamble, correct? My contract would just be for one year. I already have a small contract but I can now get many more gh/s for the amount that I paid for the first contract. It's sort of a way of "averaging down". It's makes me tempted. I also find the exchanges to be off putting as I don't want to hook up my bank account to it, etc..

[msc]

But there must be many other who believe it is an ok gamble, correct? My contract would just be for one year. I already have a small contract but I can now get many more gh/s for the amount that I paid for the first contract. It's sort of a way of "averaging down". It's makes me tempted. I also find the exchanges to be off putting as I don't want to hook up my bank account to it, etc..

Sure, they have plenty of customers, and it is a pretty good price.

[Jonesd]

But there must be many other who believe it is an ok gamble, correct? My contract would just be for one year. I already have a small contract but I can now get many more gh/s for the amount that I paid for the first contract. It's sort of a way of "averaging down". It's makes me tempted. I also find the exchanges to be off putting as I don't want to hook up my bank account to it, etc..

Sure, they have plenty of customers, and it is a pretty good price.

Be aware that they may wait 1,5 months before actually starting, largely decreasing the value of your hashing power. I gambled for the 20GH/s Silver contract at the beginning of January and enjoy looking at getting bitcoins in. It is fun to also be involved in mining bitcoins, but it is a risky investment. Don't invest money you cannot miss.

[mobodick]

I will not be sending bitcoins. I will pay with dollars and receive bitcoins. Does it seem like a bad deal? They are paying.

I'm happy with the payout right now, but our only hope is that the difficulty stops rising so fast.  The cost of mining is getting pretty high, so we may not see a whole lot of new miners.  But a lot of existing miners will probably continue investing in hashpower.

I paid in BTC and hope to recover the same amount of BTC.  By investing dollars, you only need a dollar profit, which might be easier if the BTC price rises.  Still, if I had it to do over again, I'd just buy as much BTC as possible and keep it all in storage.

So, therefore, I would not be completely crazy to consider a contract, correct? There are others who are purchasing contracts with sound reasoning, correct? There may be better ways but it seems easier than going through an exchange and purchasing BTC.

Yes, you would be completely crazy because you WILL lose out.
The way it's currently played by cloudhashing noone will get their investment back, never mind profit from it.
Having hope that difficulty stops rising so fast, like msc does, is a very very bad reason to put your money in cloudhashing.
There is just no way to win when the people at cloudhashing reduce the posibility of profit piece by piece. It's called fleecing.