Cloudhashing ASIC mining contracts, UK LTD company - Now Mining & Paying Bitcoin

[ArcticWolf]

People still thinking this is a scam might find the second banner ad on kncminer.com a little interesting

[coinedBit]

People still thinking this is a scam might find the second banner ad on kncminer.com a little interesting

https://www.kncminer.com/pictures/carousel/5375.jpg

I don't find this interesting at all: it would be interesting if kncminer would not also be considered a scam here, but so far 95-99% of the kncminer coverage on these forums comes to the conclusion that they're also scammers, and their responses and actions weren't really helping to suggest the opposite.

So one scammer teaming up with another scammer to appear legit isn't particularly compelling evidence obviously. That being said, it isn't even clear if there are different people behind these efforts - a successful scammer would ideally not come up with a single website presence, but rather a network of supporting websites and affiliates (aka forum accounts) to appear even more legit, including lots of testimonies, videos and other "virtual proof".

http://www.419eater.com

[ArcticWolf]

Well cloudhashing have also teamed with bitminter.com
Why would a well known established pool risk that kind of backlash unless they were sure they were legit?
I guess we will all find out in a few weeks either way

[coinedBit]

it will be great to see all the rumours disappear and proven wrong over time, but so far the general community consensus seems to be not in favor of most ASIC vendors that haven't actually delivered anything yet. Admittedly, there's a certain dependency chain here, i.e. once a single ASIC chip vendor doesn't deliver on time, it will inevitably affect everybody else down the line. But I do understand that people don't want to part with their cash until some facts have been established first. Frankly, it wouldn't be very difficult to address these concerns by publishing orders and invoices, so that all claims can be verified -so far, nobody has actually done that in any transparent form, except for privately-shared screen shots, which could obviously have been manipulated.

[Rampion]

The prices are ridiculous: $1,000 per 10GH/s - right, they buy the machines from KnCMiner, which cost $7,000 per 350GH/s, and they sell them for $35,000... And they have the guts to say the the estimated yearly revenue for 10GH/s is aprox. 50BTC

Yeah, so we are all going to be rich.

Jokers...

SCAM

[Rampion]

And come on guys, explain how you is it possible for you to say that the estimated return of 10GH/s in the first year is 50BTC... So you are saying that each KnC Jupiter of 350GH/s is going to produce 1,750BTC?? Are you crazy or just a bunch of scammers that want to profit from people's ignorance and lack of knowledge of basic math?

You make me feel sick, really.

[cloudhasher]

And come on guys, explain how you is it possible for you to say that the estimated return of 10GH/s in the first year is 50BTC... So you are saying that each KnC Jupiter of 350GH/s is going to produce 1,750BTC?? Are you crazy or just a bunch of scammers that want to profit from people's ignorance and lack of knowledge of basic math?

You make me feel sick, really.

So quick to jump the gun. Read

https://www.cloudhashing.com/revenue-reinvestment

Our contract holders get additional hashing power monthly. Very hard to so solo mining. Plus no need to worry about hosting etc.

We host in a secure level 3 data centre with reserve power etc.

Happy hashing

[Rampion]

And come on guys, explain how you is it possible for you to say that the estimated return of 10GH/s in the first year is 50BTC... So you are saying that each KnC Jupiter of 350GH/s is going to produce 1,750BTC?? Are you crazy or just a bunch of scammers that want to profit from people's ignorance and lack of knowledge of basic math?

You make me feel sick, really.

So quick to jump the gun. Read

https://www.cloudhashing.com/revenue-reinvestment

Our contract holders get additional hashing power monthly. Very hard to so solo mining. Plus no need to worry about hosting etc.

We host in a secure level 3 data centre with reserve power etc.

Happy hashing

I don't see any math behind the 50BTC return for the first year for each 10GH/s. That's a JOKE.

Good luck with charging $35,000 per 350GH/s when it costs $7,000 or less to you.

I guess you will be successful because people is greedy and willing to jump on ponzi schemes like yours.

Again: you make me feel sick, really.

[JordanL]

the general community consensus seems to be not in favor of most ASIC vendors that haven't actually delivered anything yet.

yes, yes it is.

[ArcticWolf]

And come on guys, explain how you is it possible for you to say that the estimated return of 10GH/s in the first year is 50BTC... So you are saying that each KnC Jupiter of 350GH/s is going to produce 1,750BTC?? Are you crazy or just a bunch of scammers that want to profit from people's ignorance and lack of knowledge of basic math?

You make me feel sick, really.

So quick to jump the gun. Read

https://www.cloudhashing.com/revenue-reinvestment

Our contract holders get additional hashing power monthly. Very hard to so solo mining. Plus no need to worry about hosting etc.

We host in a secure level 3 data centre with reserve power etc.

Happy hashing

I don't see any math behind the 50BTC return for the first year for each 10GH/s. That's a JOKE.

Good luck with charging $35,000 per 350GH/s when it costs $7,000 or less to you.

I guess you will be successful because people is greedy and willing to jump on ponzi schemes like yours.

Again: you make me feel sick, really.

wow someone woke up on the wrong side of the bed this morning

[Rampion]

And come on guys, explain how you is it possible for you to say that the estimated return of 10GH/s in the first year is 50BTC... So you are saying that each KnC Jupiter of 350GH/s is going to produce 1,750BTC?? Are you crazy or just a bunch of scammers that want to profit from people's ignorance and lack of knowledge of basic math?

You make me feel sick, really.

So quick to jump the gun. Read

https://www.cloudhashing.com/revenue-reinvestment

Our contract holders get additional hashing power monthly. Very hard to so solo mining. Plus no need to worry about hosting etc.

We host in a secure level 3 data centre with reserve power etc.

Happy hashing

I don't see any math behind the 50BTC return for the first year for each 10GH/s. That's a JOKE.

Good luck with charging $35,000 per 350GH/s when it costs $7,000 or less to you.

I guess you will be successful because people is greedy and willing to jump on ponzi schemes like yours.

Again: you make me feel sick, really.

wow someone woke up on the wrong side of the bed this morning

I'm just sick of scammers and their ponzi schemes.

If you do not agree, care to explain to all of us the math behing a 50BTC expected revenue in one year, starting from September, with 10GH/s that get only a 30% of the profits reinvested in more hashrate? Please show me the math, because it's really beyond my understanding.

It's a scam, wake up.

[cloudhasher]

And come on guys, explain how you is it possible for you to say that the estimated return of 10GH/s in the first year is 50BTC... So you are saying that each KnC Jupiter of 350GH/s is going to produce 1,750BTC?? Are you crazy or just a bunch of scammers that want to profit from people's ignorance and lack of knowledge of basic math?

You make me feel sick, really.

So quick to jump the gun. Read

https://www.cloudhashing.com/revenue-reinvestment

Our contract holders get additional hashing power monthly. Very hard to so solo mining. Plus no need to worry about hosting etc.

We host in a secure level 3 data centre with reserve power etc.

Happy hashing

I don't see any math behind the 50BTC return for the first year for each 10GH/s. That's a JOKE.

Good luck with charging $35,000 per 350GH/s when it costs $7,000 or less to you.

I guess you will be successful because people is greedy and willing to jump on ponzi schemes like yours.

Again: you make me feel sick, really.

wow someone woke up on the wrong side of the bed this morning

I'm just sick of scammers and their ponzi schemes.

If you do not agree, care to explain to all of us the math behing a 50BTC expected revenue in one year, starting from September, with 10GH/s that get only a 30% of the profits reinvested in more hashrate? Please show me the math, because it's really beyond my understanding.

It's a scam, wake up.

At current difficulty, here are the numbers if you care to research

Coins per 24h at these conditions   0.2600 BTC. - over 90 BTC annually
Power cost per 24h   0.00 USD
Revenue per day   26.50 USD
Less power costs   26.50 USD
System efficiency   - MH/s/W
Mining Factor 100 at the end of the time frame   0.16 USD/24h@100MHash/s
Average Mining Factor 100   0.21 USD/24h@100MHash/s
Power cost per time frame   0.00 USD
Revenue per time frame   7636.52 USD

Yes we expect to difficulty to shoot up, we have the revenue reinvestment program to boost the profitabilty of our clients. Customers receive additionally hashing power on a monthly basis as we keep spare capacity and purchase hardware aggressively. This additionally hashing power increases profitability.

Accusations are easy to throw about.

Kind regards

[Rampion]

At current difficulty, here are the numbers if you care to research

Coins per 24h at these conditions   0.2600 BTC. - over 90 BTC annually
Power cost per 24h   0.00 USD
Revenue per day   26.50 USD
Less power costs   26.50 USD
System efficiency   - MH/s/W
Mining Factor 100 at the end of the time frame   0.16 USD/24h@100MHash/s
Average Mining Factor 100   0.21 USD/24h@100MHash/s
Power cost per time frame   0.00 USD
Revenue per time frame   7636.52 USD

Yes we expect to difficulty to shoot up, we have the revenue reinvestment program to boost the profitabilty of our clients. Customers receive additionally hashing power on a monthly basis as we keep spare capacity and purchase hardware aggressively. This additionally hashing power increases profitability.

Accusations are easy to throw about.

Kind regards

So you just confirmed you are a SCAMMER.

You are implying:

1) Difficulty will be the same as today in September
2) Difficulty will NOT INCREASE in one year

How can you even dare to make your calculation at actual difficulty if you plan to start hashing on September? Are you really so ignorant or you are just trying to scam newcomers? Just FYI, in the last 4 months difficulty went up by x4 and the growth trend is increasing.

So go ahead and use AT LEAST x4 the current difficulty for your calculations... Oh wait... You ordered 30TH/s, so only your order will make difficulty to go up by 20%, without even considering the impact on difficulty of the 1,000TH that KnC will likely ship simultaneously to your order. And... Oh wait, difficulty is currently increasing by +25% every 10 days aprox., which would mean x7 by September.

Then... What a ridiculous dumbass.... You expect difficulty to be constant for one year? Don't try to fool your customer and make proper calculations with an appropriate profitability decline. What about x50 difficulty growth in 12 months?

Let's see a REAL calculation, with a starting difficulty of 100 mill. (x5 current difficulty, less than what you would have at the current +25% increase each 10 days, so I'm being generous):

Coins per 24h at these conditions   0.0501 BTC
Power cost per 24h   0.00 USD
Revenue per day   5.11 USD
Less power costs   5.11 USD
System efficiency   100.00 MH/s/W
Mining Factor 100 at the end of the time frame   0.00 USD/24h@100MHash/s
Average Mining Factor 100   0.01 USD/24h@100MHash/s
Power cost per time frame   0.00 USD
Revenue per time frame   467.82 USD
Less power costs   467.82 USD

So, yeah - 4.77BTC in one year and not 50BTC, dumbass. KnCMiner hardware is STILL profitable because 10GH/s cost only $200 and you are getting $467 in one year, but you are selling the 10GH/s for $1,000... Oooops. What are you implying, that a 350GH/s miner will generate 1,750BTC in one year just by investing 30% of the profits in more hashing power? YOU ARE FULL OF SHIT AND YOU KNOW IT

SHAME ON YOU. AND SHAME ON EVERY SUCKER INVESTING IN THESE SCAMMERS

[coinedBit]

We host in a secure level 3 data centre with reserve power etc.

that sounds great, so where exactly is that going to be, can you please provide contact details, so that we can verify that you have indeed purchased the corresponding contracts ?
Ideally, we'll be able to get in touch with a renown provider to validate your claim through a corresponding 3rd party. Given the space and power requirements of your planned Ghash/sec cloud, that should be a no-brainer to providde ? I am sure, there will be more cloudhashing.com customers then.

[cloudhasher]

We host in a secure level 3 data centre with reserve power etc.

that sounds great, so where exactly is that going to be, can you please provide contact details, so that we can verify that you have indeed purchased the corresponding contracts ?
Ideally, we'll be able to get in touch with a renown provider to validate your claim through a corresponding 3rd party. Given the space and power requirements of your planned Ghash/sec cloud, that should be a no-brainer to providde ? I am sure, there will be more cloudhashing.com customers then.

Better still

Contact BFL or KNC to verify orders. No matter what is provided, the forum will not be pleased.

Regards

[🏰 TradeFortress 🏰]

Wasn't the data center BFL's hosting package?

[Rampion]

We host in a secure level 3 data centre with reserve power etc.

that sounds great, so where exactly is that going to be, can you please provide contact details, so that we can verify that you have indeed purchased the corresponding contracts ?
Ideally, we'll be able to get in touch with a renown provider to validate your claim through a corresponding 3rd party. Given the space and power requirements of your planned Ghash/sec cloud, that should be a no-brainer to providde ? I am sure, there will be more cloudhashing.com customers then.

Better still

Contact BFL or KNC to verify orders. No matter what is provided, the forum will not be pleased.

Regards

I don't give a shit about your orders. I know that with your contracts you are selling $7,000 machines of 350GH/s for between $52,000 (with the 1GH/s contracts) and $35,000. Only retards will buy that.

Plus, your return expectations are IMPOSSIBLE, unless you run a ponzi and pay old investors with new investors money.

These are hard facts. Anybody investing in you is an ignorant fool.

[cloudhasher]

Wasn't the data center BFL's hosting package?

BFL until they decided to ship 3 minirigs at 500 ghash each. Their hosing package cost went more than 4 fold. We are bringing them all down to London to host.

London isn't the cheapest but gives us the flexability and control we want.

Kind regards

[ArcticWolf]

We host in a secure level 3 data centre with reserve power etc.

that sounds great, so where exactly is that going to be, can you please provide contact details, so that we can verify that you have indeed purchased the corresponding contracts ?
Ideally, we'll be able to get in touch with a renown provider to validate your claim through a corresponding 3rd party. Given the space and power requirements of your planned Ghash/sec cloud, that should be a no-brainer to providde ? I am sure, there will be more cloudhashing.com customers then.

Better still

Contact BFL or KNC to verify orders. No matter what is provided, the forum will not be pleased.

Regards

I don't give a shit about your orders. I know that with your contracts you are selling $7,000 machines of 350GH/s for between $52,000 (with the 1GH/s contracts) and $35,000. Only retards will buy that.

Plus, your return expectations are IMPOSSIBLE, unless you run a ponzi and pay old investors with new investors money.

These are hard facts. Anybody investing in you is an ignorant fool.

The fun part is no matter how he answers this question it wont be good enough for you. Your mind is made up that this is a scam and you wont be dissuaded.

[coinedBit]

Contact BFL or KNC to verify orders. No matter what is provided, the forum will not be pleased.

that's actually wrong, assuming that you are familiar with bitcoin and scams, you merely need to provide a thing called proof-of-work to convince this community

Confirming orders through a 3rd party website/company that doesn't have any track records of delivering anything at all (yet), is zero proof-of-work, because a well-orchestrated scam would merely come up with a bunch of hardware-vendor websites to provide a network of claims. Coming up with a level 3 data center is a little more difficult indeed, and would require scammers to put up lots of cash upfront, even just for renting/leasing the space.

So yeah, evidence  needs to be based on proof-of-work, not just forum postings, screenshots or youtube videos.