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

[Mike18feb]

Update for month 4 of CloudHashing mining:

Starting date Feb 15 with 420Ghs
Month 01 : 1.4 : 1.4 BTC -> actual 1.58 : total 1.58 BTC - (10%fee) -0.16 BTC = actual payout 1.42
Month 02 : 0.7  0.7 BTC -> actual 1.22 : total 2.81 BTC - (10%fee) -0.28 BTC = actual payout 2.53
Month 03 : 0.4 : 0.7 BTC -> actual 0.75 : total 3.56 BTC - (10% fee) -0.36 BTC = actual payout 3.20
Month 04 : 0.2 : 0.4 BTC -> actual 0.56 : total 4.09 BTC - (10% fee) -0.41 BTC -  actual payout 3.68
Month 05 : 0.1 : 0.3 BTC
Month 06 : 0.05 : 0.2 BTC
Month 07 : 0.0125 : 0.1 BTC
Month 08 : 0.007 : 0.08 BTC
Month 09 : 0.004 : 0.05 BTC
Month 10 : 0.002 : 0.03 BTC
Month 11 : 0.001 : 0.02 BTC
Month 12 : 0.0005 : 0.01 BTC

Total expected, around 4,69
Total investment 5.2 BTC

As I said in previous times, average difficulty jump is not as much as expected, but fine, I'll leave the numbers there. I can't keep making the mess of strikethrough numbers bigger every time. The only number that matters is the payout number

And I'll keep CloudHashing's mission in view since they ensure profitability:
 

About

Our mission is to ensure the mining profitability of our clients for years to come while the smaller miners become less competitive and less profitable.

.

[jayseattle]

Hello, new poster to the forums but have been using btc since 2012...

I bought the Silver ($999) contract in January 2014. Thus far at 5 months I have 0.15 BTC ($92).

I switched to 0% RRP after the 2nd month as it didn't seem to be working out for me at the default % (30% maybe).

Any advice for me? I have 7 months left and expected something better than this. Thus far, CH are definitely in the scam category for me.

thanks

[Phildo]

Hello, new poster to the forums but have been using btc since 2012...

I bought the Silver ($999) contract in January 2014. Thus far at 5 months I have 0.15 BTC ($92).

I switched to 0% RRP after the 2nd month as it didn't seem to be working out for me at the default % (30% maybe).

Any advice for me? I have 7 months left and expected something better than this. Thus far, CH are definitely in the scam category for me.

thanks

If they started giving you hashpower the day they said they were going to it isn't a scam, it's a bad choice by you. Some people did get scammed by having contracts start late/without the correct amount of hashpower, but everyone else is getting screwed by making a bad decision to do this.

[jayseattle]

Thanks yes, seems like a bad decision and I played into the hype and NYT article about the company. I thought that I would AT LEAST get back close to my original investment of $999. I suppose theres hope still if BTC hits $2000 but unlikely.
http://dealbook.nytimes.com/2013/12/21/into-the-bitcoin-mines/

* Is it just me or are simplemachine forums the absolute worst?
"Your last post was less than 360 seconds ago. try again later" -it was not.
"Your last search was less than 45 seconds ago. please wait.." -no it was not.
Awful, weird, outdated.

[NotLambchop]

@jayseattle:  The timer counts from the last time you tried posting (if you waited 359 seconds and hit "post," you now need to wait another 360 secs).
There is an alternative: https://bitcointa.lk/ --same forum (mirror) using slicker software.

[Mike18feb]

I did the math before I bought, though quick math, and it didn't lookm that good but I figured it would be fine. CloudHashing's site just about promises a good return, so how bad can it be. Naive, yes. After I bought 420Ghs of hashrate, I switched on RRP, and in the weeks after I started doing the real math. Well, profitability is nowhere in sight! And RRP, to make it even more profitable, would in fact make it a lot worse, so I switched that off immediately before contract start, to minimize damage.

If I see the returns of jay, and some others earlier in this thread, I am utterly shocked. CH may not be running a scam, but sheezs, taking 80% of someone's investment while claiming they're a profitable deal is getting pretty damn close. I'm way better off, thankfully.

Anyway, nothing much that can be done, except that I figured I started posting my earnings here, hoping others would follow, and newcomers would think twice before purchasing losing contracts. So far so good, I think, and I won't stop until they come with sensible answers and solutions to their profitability failure.

[hexagram]

I'm a n00b here but the numbers just don't add up. I am currently with PBMining and eventhough I am not sure when I will hit BEP but a lot of folks have so that gives some hope.

[skydigger]

Hello, new poster to the forums but have been using btc since 2012...

I bought the Silver ($999) contract in January 2014. Thus far at 5 months I have 0.15 BTC ($92).

Amazing how people simply cannot calculate what they are buying, Up to day after checking 100's

of those "Cloud Mining" BS sites I didn't find any which will even break you even.. especially sites selling like

1 year contract?  Wake up people, what you gonna do if you click tomorrow and see "Host not found" ? What ?

At least I have my Equipment It's always worth something!!!.. Talking about ROI? Why would you not asking for ROI

on your last Gaming PC? Or your TV? When you Open Any BIZ, you invest in it, and consider those money are pretty much

Gone, all you focus on is a cash flow.. Buying any Contracts for Mining it's like Guarantee LOSS the only Question is

How much 80% or 20%, None of those contracts out there is Profitable, NONE! , Show me one, you think can make me money

I'll do calculation for ya.. Good luck.. I'm not sending my Money for some WEB Hosting Freak in Unknowing Country, not

even way to find out if their so called "Rig" is in fact Exists, what if  it's just another HYIP? And more likely it is.

Why bother to invest in equipment, when you can just collect money for a while and then close doors due to " None Profit "

Avoid those Scumbags.. Buy your own Equipment if you have to. At least you'll still have your hardware, after all

[skydigger]

Anyway, nothing much that can be done, except that I figured I started posting my earnings here, hoping others would follow, and newcomers would think twice before purchasing losing contracts. So far so good, I think, and I won't stop until they come with sensible answers and solutions to their profitability failure.

Buy a mining contract is like a Lease a Car, After 3 Years Term you less $6500 Plus Extra insurance spending and what you have left with? No car and no money.

[Mike18feb]

Update for month 5 of CloudHashing mining:

Starting date Feb 15 with 420Ghs
Month 01 : 1.4 : 1.4 BTC -> actual 1.58 : total 1.58 BTC - (10%fee) -0.16 BTC = actual payout 1.42
Month 02 : 0.7  0.7 BTC -> actual 1.22 : total 2.81 BTC - (10%fee) -0.28 BTC = actual payout 2.53
Month 03 : 0.4 : 0.7 BTC -> actual 0.75 : total 3.56 BTC - (10% fee) -0.36 BTC = actual payout 3.20
Month 04 : 0.2 : 0.4 BTC -> actual 0.56 : total 4.09 BTC - (10% fee) -0.41 BTC -  actual payout 3.68
Month 05 : 0.1 : 0.3 BTC -> actual 0.41 : total  4.54 BTC - (10% fee) -0.45 BTC -  actual payout 4.09
Month 06 : 0.05 : 0.2 BTC
Month 07 : 0.0125 : 0.1 BTC
Month 08 : 0.007 : 0.08 BTC
Month 09 : 0.004 : 0.05 BTC
Month 10 : 0.002 : 0.03 BTC
Month 11 : 0.001 : 0.02 BTC
Month 12 : 0.0005 : 0.01 BTC

Total expected, around 4,69
Total investment 5.2 BTC


All in all I'm still better off then some of the people who posted here, especially those that vaporized their returns in the Reinvestment Program. Though, lucky as I am, it still doesn't look like I'm on a profitable path.

Oh, on their dashboard, they also show a USD value of what you've earned. Or at least, what the total USD value is of all BTC you've mined, based on the latest BTC value. Though I seem to remember that they also did payouts when BTC value was around $450 for like two months instaed of the $620 it's worth now. Debatable, perhaps. But this one is not: they've forgotten that they take 10% from your amount, so the amount they show you contains dollars they've never paid out and you will never see, yet they make it seem like you do. A bit cheeky.


And let's not forget CloudHashing's mission:

About

Our mission is to ensure the mining profitability of our clients for years to come while the smaller miners become less competitive and less profitable.

.

[LostDutchman]

Update for month 5 of CloudHashing mining:

Starting date Feb 15 with 420Ghs
Month 01 : 1.4 : 1.4 BTC -> actual 1.58 : total 1.58 BTC - (10%fee) -0.16 BTC = actual payout 1.42
Month 02 : 0.7  0.7 BTC -> actual 1.22 : total 2.81 BTC - (10%fee) -0.28 BTC = actual payout 2.53
Month 03 : 0.4 : 0.7 BTC -> actual 0.75 : total 3.56 BTC - (10% fee) -0.36 BTC = actual payout 3.20
Month 04 : 0.2 : 0.4 BTC -> actual 0.56 : total 4.09 BTC - (10% fee) -0.41 BTC -  actual payout 3.68
Month 05 : 0.1 : 0.3 BTC -> actual 0.41 : total  4.54 BTC - (10% fee) -0.45 BTC -  actual payout 4.09
Month 06 : 0.05 : 0.2 BTC
Month 07 : 0.0125 : 0.1 BTC
Month 08 : 0.007 : 0.08 BTC
Month 09 : 0.004 : 0.05 BTC
Month 10 : 0.002 : 0.03 BTC
Month 11 : 0.001 : 0.02 BTC
Month 12 : 0.0005 : 0.01 BTC

Total expected, around 4,69
Total investment 5.2 BTC


All in all I'm still better off then some of the people who posted here, especially those that vaporized their returns in the Reinvestment Program. Though, lucky as I am, it still doesn't look like I'm on a profitable path.

Oh, on their dashboard, they also show a USD value of what you've earned. Or at least, what the total USD value is of all BTC you've mined, based on the latest BTC value. Though I seem to remember that they also did payouts when BTC value was around $450 for like two months instaed of the $620 it's worth now. Debatable, perhaps. But this one is not: they've forgotten that they take 10% from your amount, so the amount they show you contains dollars they've never paid out and you will never see, yet they make it seem like you do. A bit cheeky.


And let's not forget CloudHashing's mission:

About

Our mission is to ensure the mining profitability of our clients for years to come while the smaller miners become less competitive and less profitable.

.

Wanna buy a duck?

[Mike18feb]

A what?!


Though, as Dutchman (not lost, though feeling lost) I do not quite have the duck thing in my blood 

[Mike18feb]

Late update. Holiday time

Update for month 6 of CloudHashing mining:

Starting date Feb 15 with 420Ghs
Month 01 : 1.4 : 1.4 BTC -> actual 1.58 : total 1.58 BTC - (10%fee) -0.16 BTC = actual payout 1.42
Month 02 : 0.7  0.7 BTC -> actual 1.22 : total 2.81 BTC - (10%fee) -0.28 BTC = actual payout 2.53
Month 03 : 0.4 : 0.7 BTC -> actual 0.75 : total 3.56 BTC - (10% fee) -0.36 BTC = actual payout 3.20
Month 04 : 0.2 : 0.4 BTC -> actual 0.56 : total 4.09 BTC - (10% fee) -0.41 BTC -  actual payout 3.68
Month 05 : 0.1 : 0.3 BTC -> actual 0.41 : total 4.54 BTC - (10% fee) -0.45 BTC -  actual payout 4.09
Month 06 : 0.05 : 0.2 BTC -> actual 0.30 : total 4.84 BTC - (10% fee) -0.48 BTC -  actual payout 4.35
Month 07 : 0.0125 : 0.1 BTC
Month 08 : 0.007 : 0.08 BTC
Month 09 : 0.004 : 0.05 BTC
Month 10 : 0.002 : 0.03 BTC
Month 11 : 0.001 : 0.02 BTC
Month 12 : 0.0005 : 0.01 BTC

Total expected, around 4,69 (4,80 perhaps even)
Total investment 5.2 BTC

According to CH total payout in USD is $2,440.46, at which point they forget to mention the 10% fee they take from payout. Actual payout in USD minus fee would be: $2192. Selling price for the whole package was $3985. So, after half a year of mining, I'm half way there, and I'll be lucky to get at $2500. From that point of view the loss CloudHashing sells with a promise and a smile is devastating.

I've complained once again and got a reply what I think would be a fair offer, at which I told them: either double my hashrate so I can make up the lost money, or start charging decent prices for a change. No more replies since then, despite another inquiry from me, and no changes in my hashrate and no changes in the outrageous prices they dare to ask on their frontpage, as hashrate is still $300 for 60Ghs?! Wowww....

Still, I don't need to worry about heavy loss or overcharged Ghs prices, as CloudHashing has a mission:

About

Our mission is to ensure the mining profitability of our clients for years to come while the smaller miners become less competitive and less profitable.

[pr0d1gy]

Anyone receiving any weird .jar files from this website via email saying its an invoice??? Ive never signed up or bought anything...

[msc]

Anyone receiving any weird .jar files from this website via email saying its an invoice??? Ive never signed up or bought anything...

No, but but I got an email from CloudHashing saying that someone was sending out phishing attempts. 

[Mike18feb]

jar files are java scripts. Bad shit is inside them I suppose, so if you accidentally started or executed those, or think they might have been executed, then your computer might have been compromised and if you have wallets on your pc (which you shouldn't-keep wallets on a safe computer instead of the "daily usage" computer), transfer any coins in them to another safe wallet, now or rather yesterday. Then scan your computer with at least two good and up to date security programs. In fact, even use a bootable cd or something to scan your pc so you know for sure the computers memory is clean of any crapware that might trick your security programs.
If infected, then reinstall your pc, change passwords everywhere and delete the wallets you have now (you've already transferred the coins elsewhere). Do not trust on one security scanner alone as none of them are perfect, and do not take this lightly. The time you spent on this is a fraction of the time you will spent rebuilding your lost coins and regaining your accounts all over.

Anything else someone can add?

[pr0d1gy]

yea i dont keep wallets on this laptop and didnt open it...

https://www.virustotal.com/en/file/359dd34e54a5c446af48d09e37a3e1155450c5e1dc460300e8d8d51e95950332/analysis/

[tokeweed]

just wondering. did CH improve their service?

[phantomcircuit]

yea i dont keep wallets on this laptop and didnt open it...

https://www.virustotal.com/en/file/359dd34e54a5c446af48d09e37a3e1155450c5e1dc460300e8d8d51e95950332/analysis/

Unfortunately whoever is doing this is constantly updating the jar file.

The latest version of it isn't detected by any virus scanners.

(Indeed I would bet that they're using virustotal.com to verify their changes worked :/ )

[mobodick]

just wondering. did CH improve their service?

Yes, they are now even more proficient in scamming people!