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

[WillShill4BTC]

@op could I be of any assistance?

[whonesta]

@philipma1957 - Why are you filing foreign holdings? The "holdings" are in the form of hardware and any earnings are paid in BTC which is NOT regulated by the IRS. Until you transfer the value to USD there is NO regulation to inform anyone as expected futures are TRULY impossible to predict. This is how I understand "IT".

[whonesta]

The hidden costs of doing business with CH, IMHO.

--- Aggravation due to a terrible launch.
     >> Constantly having to watch "log" to ensure math is done correctly
     >> It took 3 months and multiple "support" threads to get the contract end date within a week of being correct.
     >> RRP??  HUH, this has turned into a complete farce, THX Baby Jesus they did not stay with the "mandatory" scheme.


I will be unlikely to reach ROI in terms of BTC, fingers crossed the volcano (Iceland) does not erupt!

[Doeboy]

I think i'll be lucky to make 50% ROI- if i had kept my bitcoins and waited i'd have at least double the money cloudhashing will make me during the contract!

[tokeweed]

again. make this public. blog it. if you know someone from bitcoin magazine, tell them. 

[cloudhasher]

CloudHashing.com offers cloud-based Bitcoin mining contracts to those who don't want to hassle with buying their own gear and dealing with the additional costs of hardware maintenance, electricity costs, maintenance, shipping promises unfulfilled etc.

We had a rather rocky launch, which we've admitted, but as pioneers in a business we've learned from our mistakes and gotten better.  Not sure what else we are supposed to do but learn and grow.  That's what people who start businesses do. 

If someone feels they can get a better deal than with us, then by all means go that route.

Our customers want a turnkey solution to get into Bitcoin mining, and that's what we provide, and provide well.

In addition to this, we have been on the forefront of Bitcoin advocacy by trying to make Bitcoin as mainstream and popular through our many radio/TV/print interviews/ads, and we plan to do even more in the future.

We pay out as promised, and we're a stable company that's going to be around for a long time.  We hope that everyone sees the value of Bitcoin go much higher this year.

We think Bitcoin much more than doubles this year.  What do you all think?  Christmas Day 2014, will Bitcoin be at $3,000?  $4,000?  $5,000?

Unless you're some kind of day-trader with short-term goals, everyone's making ROI and then some.

-Michael   

[twentyseventy]

Unless you're some kind of day-trader with short-term goals, everyone's making ROI and then some.

-Michael   

So we can quote you that all of your customers are making profit on their investment in Cloudhashing vs. simply buying BTC?

[Doeboy]

Unless you're some kind of day-trader with short-term goals, everyone's making ROI and then some.

-Michael   

So we can quote you that all of your customers are making profit on their investment in Cloudhashing vs. simply buying BTC?

I've made 33% back in terms of BTC that i paid, i might make it to 40% if i'm lucky before the Difficulty is too high to be worthwhile counting.

[twentyseventy]

Unless you're some kind of day-trader with short-term goals, everyone's making ROI and then some.

-Michael   

So we can quote you that all of your customers are making profit on their investment in Cloudhashing vs. simply buying BTC?

I've made 33% back in terms of BTC that i paid, i might make it to 40% if i'm lucky before the Difficulty is too high to be worthwhile counting.

Another satisfied customer. Sorry for your loss, man

[cloudhasher]

The vast majority of our customers are very satisfied, and that's why we have had so many return customers and repeat buyers.  I think some on this thread seem to have strange motives for constantly attacking us in the way they do. 

Why so emotionally invested in a company?  Strange.

We are a champion for Bitcoin, and we benefit our customers and anyone who holds Bitcoin. 

If you have odd emotional reasons to not use our service, then simply don't use our service.

But please don't turn the thread into a venting session.  It's unhelpful to the Bitcoin cause and it's an odd way to spend one's free time.

[MPOE-PR]

CloudHashing.com offers cloud-based Bitcoin mining contracts to those who don't want to hassle with buying their own gear and dealing with the additional costs of hardware maintenance, electricity costs, maintenance, shipping promises unfulfilled etc.

We had a rather rocky launch, which we've admitted, but as pioneers in a business we've learned from our mistakes and gotten better.  Not sure what else we are supposed to do but learn and grow.  That's what people who start businesses do.  

If someone feels they can get a better deal than with us, then by all means go that route.

Our customers want a turnkey solution to get into Bitcoin mining, and that's what we provide, and provide well.

In addition to this, we have been on the forefront of Bitcoin advocacy by trying to make Bitcoin as mainstream and popular through our many radio/TV/print interviews/ads, and we plan to do even more in the future.

We pay out as promised, and we're a stable company that's going to be around for a long time.  We hope that everyone sees the value of Bitcoin go much higher this year.

We think Bitcoin much more than doubles this year.  What do you all think?  Christmas Day 2014, will Bitcoin be at $3,000?  $4,000?  $5,000?

Unless you're some kind of day-trader with short-term goals, everyone's making ROI and then some.

-Michael  

A. Get over your fuckwit self. Every two bit nobody (which eminently includes you) thinks themselves "at the forefront of Bitcoin advocacy". The way this was ridiculed two years ago was by calling such derps "Bitcoin Jesuses", in loving memory of Roger Ver, who actually thought this of himself. As he is meanwhile becoming about as relevant to present affairs as Taaki I guess we could perhaps move on. Do you want to be remembered for a coupla years only in terms of "those idiots who thought they mattered for reasons that have nothing to do with reality and everything to do with their very limited perspective" and after that only be mentioned when I feel like pointing out to some latter muppets just how boringly stupid & pointedly ignorant they are?

Cause if you do, you're right on the way to get it.

B. Stop with the Ponzi talk. You are not authorized to make statements about what Bitcoin will be worth in the future. The only person in Bitcoin that may make such statements is MP, and he usually makes them in the negative. The shit you've done right above would perhaps cost you your ass, like it cost MtGox its ass earlier this year. Your saving grace being, of course, that you don't have an ass to lose in the first place.

As a subset of this, what the fuck is your broken mindfuck of a broken mental process, "we can steal some BTC from our suckers just as long as we don't steal more than what BTC appreciates in USD, because then we'll just say 'everyone is making ROI and then some' as if it were a fact"? Wake up and smell the coffee ye ignorant bunch, this is quite obsolete scammer speech.

So now: get over yourselves, stfu more and lurk a lot more. That is what real businessmen do. You're not it.

[Doeboy]

Well said, i couldn't be bothered to reply. Your last paragraph says it all really.

[tokeweed]

The vast majority of our customers are very satisfied, and that's why we have had so many return customers and repeat buyers.  I think some on this thread seem to have strange motives for constantly attacking us in the way they do. 

Why so emotionally invested in a company?  Strange.

We are a champion for Bitcoin, and we benefit our customers and anyone who holds Bitcoin. 

If you have odd emotional reasons to not use our service, then simply don't use our service.

But please don't turn the thread into a venting session.  It's unhelpful to the Bitcoin cause and it's an odd way to spend one's free time.

cos we paid for over priced contracts and realized this a couple of months later. so in a way, some of us think we we're scammed by you. assholes!

[tokeweed]

s a subset of this, what the fuck is your broken mindfuck of a broken mental process, "we can steal some BTC from our suckers just as long as we don't steal more than what BTC appreciates in USD, because then we'll just say 'everyone is making ROI and then some' as if it were a fact"? Wake up and smell the coffee ye ignorant bunch, this is quite obsolete scammer speech.

this. cloudhashing is scamming us, cant you guys see it?  we demand more payment, or cheaper ghs/usd through rrp. give us a chance to get our money back.

[chinchs]

Unless you're some kind of day-trader with short-term goals, everyone's making ROI and then some.

-Michael   

So we can quote you that all of your customers are making profit on their investment in Cloudhashing vs. simply buying BTC?

I've made 33% back in terms of BTC that i paid, i might make it to 40% if i'm lucky before the Difficulty is too high to be worthwhile counting.

 How about in fiat?   

I didn't... I paid USD 248 or 1.9BTC (may 25)

Earnings (USD): 179.76 USD (or 0.20 BTC)

So far I loose %30 in fiat or %90 in BTC.

[Kato]

I thought I would share my experience so far regarding Cloud-hashing, positive or negative as it may be, and only the facts I have on my own contracts.

I like to start constructively. Despite service delays and disruptions along the way, Cloud-hashing have ultimately delivered the features to customers they have promised. So some credit is due there. Now on returns...

I bought 2 year September contracts. According to their on-site advertising at the time of purchase, the minimum expectation for BTC mined per year was equivalent to around 1.3 BTC per GH/s purchased. In the first 3 months I have so far mined around 6% of that annual projection, which with the BTC mining rate declining it should have been over 25%, so it is well behind the advertised BTC projections, even recognising these can only ever be estimates in a rapidly changing environment. I have been re-investing some of the earnings in the RRP (experimenting between 0 and 30%), which has so far given me an extra 20% GH/s on my initial amount. So that at least works, and seems to partially compensate for the exponentially increasing difficulty. Given all of this, I've calculated that over the last 2 months the rate of BTC being mined per day on my accumulated GH/s has fallen by around 40%, probably a better result than without the RRP, but overall still a much lower BTC yield than advertised.

The company presents their results in fiat dollars however. Given the 8-fold rise in BTC value since September, I therefore have received all capital back and then some measured in fiat dollars, consistent with their claim. That could actually be a relevant way to look at things if one is funding the contracts from fiat (as I did), which is how they quote the contract purchase prices. However, Cloud-hashing has no influence over the BTC price change, and ongoing 8-fold increases are certainly not a reasonable norm on which to form future expectations. The fiat dollar return can theoretically only be considered indicative then if one expects ongoing quarterly 8-fold increases in price, or if a legitimate claim can be made that if price had remained more stable, many more BTC would have been mined in line with the initial projections. I am not sure if there is such a valid inverse relationship here, and whether it could be significant enough to support such ongoing fiat return expectations. Perhaps somebody with greater understanding of the technicals of mining can comment on this. If not, fiat return results experienced to date seem unreasonable to expect for the future.

Possibly there is more context that others could provide here about the economics of mining BTC today. I note for example that even on CEX, estimated BTC yields are currently well below the cost per GH/s. So not sure how mining BTC makes sense right now at all in the absence of large price increases (and then if that's what you are relying on, why not buy BTC now instead?).

Regards all.

[tokeweed]

hey guys, just to cross check with other ch users...

how many payments have you received on january 16, 17 and 18?

 

[shawshankinmate37927]

hey guys, just to cross check with other ch users...

how many payments have you received on january 16, 17 and 18?

I have 2 for the 15th, 3 for the 16th, 1 for the 17th, and none for the 18th yet...

Are we getting a payment each time a block is mined?  Is there a list somewhere of all the blocks that Cloudhashing has mined?

[ccualumni]

It seems like there is quite a bit of bad press for Cloudhashing.com.

I know that all companies have people that love them and people that hate them.

Is there a way to confirm whether or not they are legit?

I have already invested with them for 20ghs using a credit card.

I am still within my dispute period with my credit card and want to know if I should file for a chargeback or stay with them.

I made about $6 in my first two days, but have only made about $2 in the next 2 days.

It appears that you will have ups and downs with this industry, but want to make sure I am not getting ripped off.

Thanks
Here are my stats so far (January 15-January 19 @ 5:00 EST:
   BTC   Dollar   
Earnings:   0.01142828   10.57$   
Fees:   0.00114282   1.06$   -
Real earnings:   0.01028546   9.52$   
RRP:   0.00144054   1.33$   -
Payments:   0.00000000   0.00$   -

[tokeweed]

hey guys, just to cross check with other ch users...

how many payments have you received on january 16, 17 and 18?

I have 2 for the 15th, 3 for the 16th, 1 for the 17th, and none for the 18th yet...

Are we getting a payment each time a block is mined?  Is there a list somewhere of all the blocks that Cloudhashing has mined?

is this it?  https://pool.cloudhashing.com/blocks

i got no payment in the 18th and only one in the 19th.