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

[tokeweed]

i don't think i will break even the way this is going.

[trankil]

hello,
I just sent you a message asking you refund my contract. In fact you do not respect deadlines launch mining.

thanks

Could you keep us informed of how that goes? I want to see how they handle something like this.

yes this is their first answer

Hi ,

Have you had a chance to read our latest newsletter here?

https://www.cloudhashing.com/about-us/revenue-reinvestment/8-blog/85-october-8th-newsletter

We are mining, but at a reduced capacity currently.

Best Regards,

James

but i re ask for a refund

[TheQuin]

hello,
I just sent you a message asking you refund my contract. In fact you do not respect deadlines launch mining.

thanks

Could you keep us informed of how that goes? I want to see how they handle something like this.

yes this is their first answer

Hi ,

Have you had a chance to read our latest newsletter here?

https://www.cloudhashing.com/about-us/revenue-reinvestment/8-blog/85-october-8th-newsletter

We are mining, but at a reduced capacity currently.

Best Regards,

James

but i re ask for a refund

If you don't get a satisfactory answer you may need to get a solicitor to write to them. The UK has some very strong consumer protection legislation. You should be able to find details online. They are obviously in breach of contract by only providing 15% of what you paid for.

[elmismo]

Customer: Your are not giving me what I paid for, may I ask for a my money back?

CH: We are giving you a 15% of what you paid for. Thank you have a nice day.

Customer: But that's what I'm saying, you are not giving what I paid for. I want my money back!!

CH: It's 6 o'clock PM, good afternoon.





PD: now you can say we are trolling here, but with reason!!

[cloudhasher]

Right all.

Just installed another large batch of machines. We are now at 30 percent capacity from 15 yesterday.

We will keep ramping up over the next couple of days and I will endeavour to keep you updated.

Kind regards

[trankil]

Here the answer of Cloudashing

now we can affirm this is SCAM , they don't assumer their error and they don't want to refund us

so now i will see with my lawyer

Hi ,

Regretfully we cannot refund your contract as it has passed the seven day limit. We base our purchases of equipment on our past sales to ensure we keep up with our customers' needs for increasing hash rates moving forward into the future. To allow our customers to have contracts refunded at any point in time would mean that all the risk inherent in the bitcoin mining market is transferred to our business which would make it impossible to run.

In the terms and conditions viewable here,

https://www.cloudhashing.com/terms-conditions

(Under section 2.3,

"You acknowledge and warrant that you have conducted sufficient due diligence to understand the risks associated with Bitcoin mining. You acknowledge that due to the difficulties in sourcing and producing Mining Hardware there may be delays which affect that rate at which we are able to bring Mining Hardware in the Pool online. We reserve the right in the event of a delay which affects our supply of Mining Hardware to bring such Mining Hardware online in a gradual manner. In such an event you acknowledge that you shall be only allocated a reduced Capacity and that this will reduce the Product which is transferred to you as proceeds of your Contract. Notwithstanding the preceding, we shall make all reasonable efforts to avoid such delays, and to ensure that the Mining Pool is fully operational by the start date of your Mining Contract. "

Please be aware that I'm not trying to be rude or pushy showing this part of the contract, I'm just highlighting it so that you don't have to scroll through the whole contract trying to find it.)

I assure you we are making great developments and working flat out towards getting your contract to full capacity.

Best Regards,

James

[TheQuin]

Here the answer of Cloudashing

now we can affirm this is SCAM , they don't assumer their error and they don't want to refund us

so now i will see with my lawyer

Hi ,

Regretfully we cannot refund your contract as it has passed the seven day limit. We base our purchases of equipment on our past sales to ensure we keep up with our customers' needs for increasing hash rates moving forward into the future. To allow our customers to have contracts refunded at any point in time would mean that all the risk inherent in the bitcoin mining market is transferred to our business which would make it impossible to run.

In the terms and conditions viewable here,

https://www.cloudhashing.com/terms-conditions

(Under section 2.3,

"You acknowledge and warrant that you have conducted sufficient due diligence to understand the risks associated with Bitcoin mining. You acknowledge that due to the difficulties in sourcing and producing Mining Hardware there may be delays which affect that rate at which we are able to bring Mining Hardware in the Pool online. We reserve the right in the event of a delay which affects our supply of Mining Hardware to bring such Mining Hardware online in a gradual manner. In such an event you acknowledge that you shall be only allocated a reduced Capacity and that this will reduce the Product which is transferred to you as proceeds of your Contract. Notwithstanding the preceding, we shall make all reasonable efforts to avoid such delays, and to ensure that the Mining Pool is fully operational by the start date of your Mining Contract. "

Please be aware that I'm not trying to be rude or pushy showing this part of the contract, I'm just highlighting it so that you don't have to scroll through the whole contract trying to find it.)

I assure you we are making great developments and working flat out towards getting your contract to full capacity.

Best Regards,

James

When the product is described as a xGhs mining contract starting in September, simply adding a get out clause will most likely be disqualified under the Unfair Terms in Consumer Contracts Regulations 1999.

http://www.oft.gov.uk/about-the-oft/legal-powers/legal/unfair-terms/guidance#.UlV2bFCkrMI

The 7 day limit he refers you are your rights to cancel, EVEN IF they provide the product or service.

http://www.which.co.uk/consumer-rights/regulation/distance-selling-regulations/#link-1

UK consumer law states that goods must be as described or else you are entitled to a full refund.

http://www.adviceguide.org.uk/wales/consumer_w/consumer_common_problems_with_products_e/consumer_goods_are_not_as_described_e/goods_dont_match_description.htm

[derrend]

I can understand peoples frustration, we're all dreaming of a future in which our bitcoin hoarding makes us millionaires but I don't think it's necessary to start cloudbashing just yet.
Throwing words like 'scam' around is just irresponsible, we know that's not what they're doing and announcing that emails have just been sent asking for a refund to the world as a scare tactic is not professional.
Some of us have a client base, deadlines and are in for thousands but you don't see us acting this way.

They will do their level best to turn a profit for us, their business depends on it because nobody in the future would buy a contract otherwise.
Disneyland didn't work when it first opened, columbia exploded, nobody went to see the shawshank redemption at the cinema.

Have a little faith my cloudhashing brethren

[TheQuin]

I can understand peoples frustration, we're all dreaming of a future in which our bitcoin hoarding makes us millionaires but I don't think it's necessary to start cloudbashing just yet.
Throwing words like 'scam' around is just irresponsible, we know that's not what they're doing and announcing that emails have just been sent asking for a refund to the world as a scare tactic is not professional.
Some of us have a client base, deadlines and are in for thousands but you don't see us acting this way.

They will do their level best to turn a profit for us, their business depends on it because nobody in the future would buy a contract otherwise.
Disneyland didn't work when it first opened, columbia exploded, nobody went to see the shawshank redemption at the cinema.

Have a little faith my cloudhashing brethren

I agree that calling it a scam is wrong. But I believe that people should be aware of their rights in regards of claiming a refund. It is also misleading, or at least factually incorrect, of CH to claim that there is a 7 day limit on claiming refunds. When the service does not match that advertised then the consumer is entitled to a full refund. That is the law in this country. Anyone who paid by credit card would be able to get the charge reversed. I think people should know this.

[Rampion]

I can understand peoples frustration, we're all dreaming of a future in which our bitcoin hoarding makes us millionaires but I don't think it's necessary to start cloudbashing just yet.
Throwing words like 'scam' around is just irresponsible, we know that's not what they're doing and announcing that emails have just been sent asking for a refund to the world as a scare tactic is not professional.
Some of us have a client base, deadlines and are in for thousands but you don't see us acting this way.

They will do their level best to turn a profit for us, their business depends on it because nobody in the future would buy a contract otherwise.
Disneyland didn't work when it first opened, columbia exploded, nobody went to see the shawshank redemption at the cinema.

Have a little faith my cloudhashing brethren

Then you should have just bought bitcoins. You do realize that buying bitcoins has ALWAYS been more profitable than mining, apart from a very few exceptions like being the lucky owner of an Avalon batch #1, right?

In other words: if you'd bought BTC with the $$$ with which you bought your cloudhashing contract you would have got way more bitcoins than you will EVER get with that contract.

I guess noobs don't do due diligence, but anyhow even on blockchained.com and other mining calculators is stated clearly "Mostly buying has been historically more profitable than mining"

Plus, buying cloudhashing contracts you are paying: a) the mark up of the hardware manufacturers + b) cloudhashing markup; too much profit going out from your pocket to other people's pocket, an unprofitable move indeed.

[chinchs]

No communication. New delay without notice.

Why do they keep announcing in the first place things they cannot do ?

COM-MU-NI-CA-TION guys !

Dude Relax!!

Mining will surely start tonight. Actually working to finish the pool front end as we speak. I will send a newsletter tonight to give you details on how to login. You can also connect your existing mining equipment to the pool to mine for free.

We will be giving additional hashing power as a bonus to existing customers. I will announce the details on the newsletter also.

Kind regards

Emmanuel

CH, can you share some Information about the extras for early adopters (didn't get your response about early adopters switching to september contracts), since today we will start hashing, just want to know what we would get.

Regards,
Christian

What about this? This is the 3rd time that I ask...

I bought a 1 GHz perpectual for late june... I switched for a 4Ghz in september (later I found that you lie to me and instead of 2 years you gave me a 1 year contract...) We are in october, what are the beneficts for an early adopter like me?

This is not the best way to ask something, but is frustrating when you paid for something and nobody answer simple questions...

[cloudhasher]

Have you registered to the newsletter? We will update you there

[wachtwoord]

Have you registered to the newsletter? We will update you there

But it's not in there.

[cloudhasher]

Yes

Plan is to get you guys to 100% first. Once that is achieved then we can offer a booster. Currently the focus is building these racks and adding your machines daily.

Stay tunes.

[wachtwoord]

Yes

Plan is to get you guys to 100% first. Once that is achieved then we can offer a booster. Currently the focus is building these racks and adding your machines daily.

Stay tunes.

Okay I'll continue to wait. Note that I haven't been attacking you at all. I'm waiting to see how this all turns out because right now it's all just speculation anyway.

[cloudhasher]

Yes

Plan is to get you guys to 100% first. Once that is achieved then we can offer a booster. Currently the focus is building these racks and adding your machines daily.

Stay tunes.

Okay I'll continue to wait. Note that I haven't been attacking you at all. I'm waiting to see how this all turns out because right now it's all just speculation anyway.

Hey thanks :-)

We will certainly be rewarding our customers. We just want to deliver their purchase ASAP first. Hence the crazy long hours. We are getting there though.

Will have some more hashing power increases to announce.

Emmanuel

[tokeweed]

If only you communicate better with your customers, you would have at least calmed us down amid the delays. We do not know what's going on out there with you guys so customers naturally want a refund.

If there were delays getting the new farm online, why not inform us one week before?  I'd rather get bad news now than on the day it actually happens.

[cloudhasher]

Actually

Everything was done and ready weeks ago. Its the delivery of machines that is taking up time. Plus when some of the equipment arrived, it became clear that modifications to the cooling had to be done to get optimal performance. We deal with 3 major manufacturers.

Do not expect up to date info on this forum, we generally deal with our customers via our own channels.

Kind regards

[MerchantMiner]

Yes

Plan is to get you guys to 100% first. Once that is achieved then we can offer a booster. Currently the focus is building these racks and adding your machines daily.

Stay tunes.

Okay I'll continue to wait. Note that I haven't been attacking you at all. I'm waiting to see how this all turns out because right now it's all just speculation anyway.

Hey thanks :-)

We will certainly be rewarding our customers. We just want to deliver their purchase ASAP first. Hence the crazy long hours. We are getting there though.

Will have some more hashing power increases to announce.

Emmanuel

Sorry but after looking into your company CloudHashing i cant see how you have a business model, the equipment you have already is already running diminished returns no matter what you have purchased ,your behind the times!
When you ask people to reinvest 30% that's just a blatant scam on the customer to cover your own back. the contracts are weak and the returns will again be diminished your plugin a large hole with a small peg. as with all over companys your mining away before handing that power over to the customer giving them the same old spiel!

i dont get it i can buy and run my own kit you offer nothing i would purchase as an investment

sorry but your a scam!  

[cloudhasher]

All,

A point I think you would find noteworthy. RRP (revenue reinvestment) is entirely voluntary and at the same time fully configurable. Shortly, when you log onto the Cloud Hashing mining pool, you will be able to specify your RRP rate.

I am currently looking for a handful of guys with ASICS that want to BETA test the site/pool for us a few days before launch. PM me to register interest. Oh yes, and those without Cloud Hashing contracts can mine on our pool and also make use of our RRP if they so wish.

Kind regards

Emmanuel