Cloud Hashing

[Barntech]

What do you guys think of these guys?

https://www.cloudhashing.com

Offering 10Ghs starting in September. Is it in any way a good idea to jump on board? They claim a return of 50BTC for essentially 10BTC (to keep it easy) ... though if you pump the figures into coinish calc, it tells you tou will make about 2BTC profit over two years on its default mode. If you put in difficulty increases of 15% then its never.

Still... i'm tempted. Certainly not going to get an asic any time soon. Thoughts?

Someone talk me out of it. :-)

[1715307106]

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[1715307106]

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[mgio]

What do you guys think of these guys?

https://www.cloudhashing.com

Offering 10Ghs starting in September. Is it in any way a good idea to jump on board? They claim a return of 50BTC for essentially 10BTC (to keep it easy) ... though if you pump the figures into coinish calc, it tells you tou will make about 2BTC profit over two years on its default mode. If you put in difficulty increases of 15% then its never.

Still... i'm tempted. Certainly not going to get an asic any time soon. Thoughts?

Someone talk me out of it. :-)

Don't do it!

Even if it started now, with the next difficulty estimate at 18.3 million, you'd only make 0.2748 a day from it. That is six months to get 50 BTC if the difficulty never goes up and it definitely will. I feel like they are seriously misleading you by making a prediction of 50 BTC. I wouldn't buy from them because of that alone.

In September the difficulty will probably be around 50 million and you'll make only about 0.1 bitcoin a day. You'll probably never make your investment back.

[Operatr]

What do you guys think of these guys?

https://www.cloudhashing.com

Offering 10Ghs starting in September. Is it in any way a good idea to jump on board? They claim a return of 50BTC for essentially 10BTC (to keep it easy) ... though if you pump the figures into coinish calc, it tells you tou will make about 2BTC profit over two years on its default mode. If you put in difficulty increases of 15% then its never.

Still... i'm tempted. Certainly not going to get an asic any time soon. Thoughts?

Someone talk me out of it. :-)

Don't do it!

Even if it started now, with the next difficulty estimate at 18.3 million, you'd only make 0.2748 a day from it. That is six months to get 50 BTC if the difficulty never goes up and it definitely will. I feel like they are seriously misleading you by making a prediction of 50 BTC. I wouldn't buy from them because of that alone.

In September the difficulty will probably be around 50 million and you'll make only about 0.1 bitcoin a day. You'll probably never make your investment back.

You are making an assumption that Bitcoin's value won't change in that time. There is a lot going on in the financial world right now, I think we're on the verge of a new push. Let's say Bitcoin is worth $500 or more each in 6 months, even making a shaving of a Bitcoin can still be worth serious money.

The miners ultimately set the price of Bitcoin, which only goes up the harder it gets to mine. The currently upward swing will look like nothing soon I agree. More power usage, more time, = more BTC value.
 
Yes there some large "ifs" there, but don't forget as difficulty goes up, the value of Bitcoin will as well. If all gold were on the surface it wouldn't be worth much, but since we have to dig further and further to get at it using more time and energy, it costs most for the miners, therefor costs more to buy as an investor. Bitcoin follows the mining analogy to a T.

[Phil21]

You are making an assumption that Bitcoin's value won't change in that time. There is a lot going on in the financial world right now, I think we're on the verge of a new push. Let's say Bitcoin is worth $500 or more each in 6 months, even making a shaving of a Bitcoin can still be worth serious money.

Irrelevent.  If you're spending bitcoins for mining gear, the only thing that matters one iota is how many bitcoins you get back.  If you're betting on bitcoin rising in price to cover your investment, then simply buy bitcoins.  You'll have a better outcome should they go up in price.

The miners ultimately set the price of Bitcoin, which only goes up the harder it gets to mine. The currently upward swing will look like nothing soon I agree. More power usage, more time, = more BTC value.

Absolutely not.  The market ultimately sets the price of Bitcoin, miners simply supply it at the price the market will pay.  Should the market not pay enough to make mining profitable, then less people mine.  Eventually equilibrium should be established, but it is not miners calling the shots here.  If they are, we should all give up now as this bitcoin experiment is dead.  About the only thing miners collectively control is the network difficulty, which happens to follow price.  Higher price, more miners are viable, which means higher difficulty.  Lower price, marginal operations get shut down, and you have less difficulty.

Yes there some large "ifs" there, but don't forget as difficulty goes up, the value of Bitcoin will as well. If all gold were on the surface it wouldn't be worth much, but since we have to dig further and further to get at it using more time and energy, it costs most for the miners, therefor costs more to buy as an investor. Bitcoin follows the mining analogy to a T.

Completely irrelevant if you're investing bitcoins in mining gear to get more bitcoins.  If you simply are betting on the price rising, buy bitcoins!  You'll get more, and have a better rate of return.

[TheSwede75]

Nr 1 rule in business: If it seems like it's too good to be true, it is.

[Dalkore]

What do you guys think of these guys?

https://www.cloudhashing.com

Offering 10Ghs starting in September. Is it in any way a good idea to jump on board? They claim a return of 50BTC for essentially 10BTC (to keep it easy) ... though if you pump the figures into coinish calc, it tells you tou will make about 2BTC profit over two years on its default mode. If you put in difficulty increases of 15% then its never.

Still... i'm tempted. Certainly not going to get an asic any time soon. Thoughts?

Someone talk me out of it. :-)

Don't do it!

Even if it started now, with the next difficulty estimate at 18.3 million, you'd only make 0.2748 a day from it. That is six months to get 50 BTC if the difficulty never goes up and it definitely will. I feel like they are seriously misleading you by making a prediction of 50 BTC. I wouldn't buy from them because of that alone.

In September the difficulty will probably be around 50 million and you'll make only about 0.1 bitcoin a day. You'll probably never make your investment back.

You are making an assumption that Bitcoin's value won't change in that time. There is a lot going on in the financial world right now, I think we're on the verge of a new push. Let's say Bitcoin is worth $500 or more each in 6 months, even making a shaving of a Bitcoin can still be worth serious money.

The miners ultimately set the price of Bitcoin, which only goes up the harder it gets to mine. The currently upward swing will look like nothing soon I agree. More power usage, more time, = more BTC value.
 
Yes there some large "ifs" there, but don't forget as difficulty goes up, the value of Bitcoin will as well. If all gold were on the surface it wouldn't be worth much, but since we have to dig further and further to get at it using more time and energy, it costs most for the miners, therefor costs more to buy as an investor. Bitcoin follows the mining analogy to a T.

That is pure speculative talk and is reckless.  Relying on price appreciation as your plan to make a profit is a quick way to financial ruin.

[turtle83]

You are making an assumption that Bitcoin's value won't change in that time. There is a lot going on in the financial world right now, I think we're on the verge of a new push. Let's say Bitcoin is worth $500 or more each in 6 months, even making a shaving of a Bitcoin can still be worth serious money.

Hes making the assumption that 1 Bitcoin today is worth 1 Bitcoin over time. I think thats a probably sane assumption...

[Operatr]

Ugh, you know I realized I am too tired to be thinking about this stuff too deeply, please disregard. My analysis of pricing is fundamentally incorrect I will admit.

My only real point was you cannot argue difficulty increase making mining not worth it without considering that the worth of Bitcoin can also increase/decrease along side it. If Bitcoin is worth let's say $1000 by next year, even mining a sliver of one would be worth it even at what would be perceived as insane difficulty by then.

Yes, if you use the speculation as your only method of investment recovery would be pretty reckless. There are several factors to consider, that being only one of them.

1 Bitcoin will always be 1 Bitcoin, but the variable is how much buying power they carry, and will be until someday it is de-coupled from Fiat currency and Bitcoin equalizes into its own inherent buying power without the measure of fiat pricing guiding it.

______________________________
To get back on point-

I have actually talked to the guys behind Cloudhashing who shared some internal documents with me as part of the initial Coin Canary investigating when I started it, they seem to be running a solid operation. I can't/won't vouch entirely as I have neither used their service or really heard anything from anyone who has, however.

It's up to you, a service like theirs is handy if you want to mine without having to plop down the full investment for the gear, energy, maintenance, etc. Whatever your returns are is simply up to the market itself, just like mining with your own equipment. The return is smaller, but your risk is smaller in renting.

Buying BTC you have to just hope they are worth more than you paid after time. Only risk there is the price tanking after you buy. This is assuming you are only looking at it as commodity investment.  

Buying a contract with a hashfarm, you may be able to mine more coins than you could have purchased outright for the same cost but takes longer, but therein lies the rub as it all depends on the volatility of the market and difficulty of mining. It gives you a medium risk to be a miner without putting down a large up front investment, with hopefully a better ROI in the longer run.

Then there is just laying down the big money for mining gear and running it yourself. Highest risk and expense, but possibly highest rewards as you get 100% of the output. Positive ROI takes much longer depending on your gear.

[wachtwoord]

If you don't trust them just pay by credit card and charge back if they don't deliver.

Disclosure: I bought 1 July contract. This won't make me rich but I imagine it's profitable.

[Dalkore]

If you don't trust them just pay by credit card and charge back if they don't deliver.

Disclosure: I bought 1 July contract. This won't make me rich but I imagine it's profitable.

If you have the time; give us a report at the end of the year.     It would be nice to get some data on this.

[wachtwoord]

If you don't trust them just pay by credit card and charge back if they don't deliver.

Disclosure: I bought 1 July contract. This won't make me rich but I imagine it's profitable.

If you have the time; give us a report at the end of the year.     It would be nice to get some data on this.

Sure. If I forget PM me

[atariguy]

Even the name of the company is wrong... "Cloud" computing and mining are not compatible at all.

And they admit they don't even have any mining equipment yet - it's on order for them just like it is for everyone else.

[Operatr]

Even the name of the company is wrong... "Cloud" computing and mining are not compatible at all.

And they admit they don't even have any mining equipment yet - it's on order for them just like it is for everyone else.

No offense, but you clearly have no idea what mining is, as mining quite literally is a cloud based system with several independent nodes acting in unison through the Internet



They are awaiting BFL gear I believe, so it might be a while  

[atariguy]

Well, I guess that's true, if you simply define cloud computing as distributed computing. What first comes to mind for me, however, is virtual machines such as Amazon Web Services, which would do quite poorly at mining.

[mgio]

Ugh, you know I realized I am too tired to be thinking about this stuff too deeply, please disregard. My analysis of pricing is fundamentally incorrect I will admit.

My only real point was you cannot argue difficulty increase making mining not worth it without considering that the worth of Bitcoin can also increase/decrease along side it. If Bitcoin is worth let's say $1000 by next year, even mining a sliver of one would be worth it even at what would be perceived as insane difficulty by then.

Yes you can argue that, because the price of bitcoin is completely irrelevant. As an earlier poster said, if you are relying on bitcoin to appreciate, you would be better off just buying bitcoins directly. The price of bitcoin when purchasing mining gear is completely irrelevant. You should always think of your purchase as paying in bitcoin at the current rate, and returning bitcoin in the future.

[turtle83]

Well, I guess that's true, if you simply define cloud computing as distributed computing. What first comes to mind for me, however, is virtual machines such as Amazon Web Services, which would do quite poorly at mining.

Cloud is a meaningless marketing buzzword.

Mentally, whenever you see "cloud" replace it with "internet". And if more specific, replace "public cloud" with internet and "private cloud" with intranet. It will save you from a lot of confusion.

Experience: Works in "cloud" business.

Edit: https://github.com/panicsteve/cloud-to-butt <-- i use this extension to make boring buzzword spam more entertaining to read.

[TheSwede75]

If they were still offering the indefinite contracts I would be interested. Any of the ones listed for now? Nah, not worth it with diff increase, even over 2 years at 10 GH/s.

[CoinHoarder]

If you don't trust them just pay by credit card and charge back if they don't deliver.

Disclosure: I bought 1 July contract. This won't make me rich but I imagine it's profitable.

Good luck with that...

Cloudhashing is using BFL hardware that they only just now pre-ordered (well.. OK, they ordered in Feb/March/April... something like that.)

There is no way that they actually get mining hardware in or before July, seeing as though how late their BFL pre-orders are.

[cloudhasher]

Hi All

Just to weigh in on this. We have made a significant order for ASICs with KNC Miner.

This will take us well over 35 Terahash come September. You can check KNC out at www.kncminer.com. The second slide on ther home page show cloudhashing (us) being supplier by them.

In our recent newsletter to our existing clients, we let them know that we will be giving them an additional 25% hashrate increase for free. We basically did this as a reward for their support and custom.

We also announced we have partnered with bitminter to use his technology and pool to enable our clients to profit from namecoin and possibly other crypto currencies.

We believe our partnerships stand us on good steed for success for us and our clients.

An important point to make. The price of BTC will only go up so although the difficulty increases, we strongly believe our customers will stand to make a lot more than our conservative estimates state.

One thing we should have mentioned and we will change today on the site, our Silver , Gold and Platinum contracts benefit for our revenue reinvestment plan. This means we add more hardware for contract holders thus boozing hashrate. This increases profitabilty.

Kind regards

Emmanuel

P.s

Pardon any typos... Writing on my iPhone.

[DPoS]

You can't say BTC only goes up.  That is reckless

Its set for a few major dips (just had one) the next 6 months

[wachtwoord]

You can't say BTC only goes up.  That is reckless

Its set for a few major dips (just had one) the next 6 months

It's also not very relevant as I imagine most people choose between investing in mining or buying Bitcoin directly (or a combination) for a set amount. Therefore whether Bitcoin goes up isn't that important. In fact, wrt mining investments it's better if the price goes down as this will likely lead to a lower difficulty (or lower increase).

[atariguy]

You can't say BTC only goes up.  That is reckless

Its set for a few major dips (just had one) the next 6 months

It's gone down in just the last few days.

[Bitcoinorama]

I know this address;

145-157 St John Street, London EC1V 4PW, England United Kingdom.

I work right around the corner from it.

I'll get you a pic over the weekend.

[DPoS]

You can't say BTC only goes up.  That is reckless

Its set for a few major dips (just had one) the next 6 months

It's also not very relevant as I imagine most people choose between investing in mining or buying Bitcoin directly (or a combination) for a set amount. Therefore whether Bitcoin goes up isn't that important. In fact, wrt mining investments it's better if the price goes down as this will likely lead to a lower difficulty (or lower increase).

ain't that a bunch of bull you just wrote. wrt your logic, hopefully anything you want becomes worthless so you can have more of it

[wachtwoord]

You can't say BTC only goes up.  That is reckless

Its set for a few major dips (just had one) the next 6 months

It's also not very relevant as I imagine most people choose between investing in mining or buying Bitcoin directly (or a combination) for a set amount. Therefore whether Bitcoin goes up isn't that important. In fact, wrt mining investments it's better if the price goes down as this will likely lead to a lower difficulty (or lower increase).

ain't that a bunch of bull you just wrote. wrt your logic, hopefully anything you want becomes worthless so you can have more of it

Nope, Bitcoin doesn't go down in value. It's the price (something completely different from the value) going down that will make the investment better. People always seem to confuse price and value

[DPoS]

You can't say BTC only goes up.  That is reckless

Its set for a few major dips (just had one) the next 6 months

It's also not very relevant as I imagine most people choose between investing in mining or buying Bitcoin directly (or a combination) for a set amount. Therefore whether Bitcoin goes up isn't that important. In fact, wrt mining investments it's better if the price goes down as this will likely lead to a lower difficulty (or lower increase).

ain't that a bunch of bull you just wrote. wrt your logic, hopefully anything you want becomes worthless so you can have more of it

Nope, Bitcoin doesn't go down in value. It's the price (something completely different from the value) going down that will make the investment better. People always seem to confuse price and value

Glad you understand that, but you are believing market conditions are the only reason something goes down in price... The value can lead the price down too.

BTC value has gone up and down on its own in its history and sometimes it is on par with the ups and down of its price.   For one example, the more people who accept BTC will increase its value but if less and less accept it, it will lose value.  And BTC has many facets that affect both its value and price

[Bitcoinorama]

Perhaps, they're based near the Lawyer's-ville part of the city, if they truly exist...

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Between Farringdon and Old St;

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

I'll get you guys a picture of their location over the weekend!

Don't bother bro.. 145-157 St John Street is where half of UK registered companies are; it's the best known P/O box, used to see it all the time as an accountant and have a company there myself (company no. 08500013)

As above, from another thread on this topic AEJK claims the address is nothing more than mail forwarding, which is in stark contrast to 'cloud hashings' claims.

On their site they claim to have a physical presence, an office, depicted by a giant red circle:

https://www.cloudhashing.com/contact

I'll swing past on my way back tomorrow morn. If there is nothing to assure they have a physical presence as claimed, then for all intense and purposes, they are out to scam!

[cloudhasher]

Perhaps, they're based near the Lawyer's-ville part of the city, if they truly exist...

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Between Farringdon and Old St;

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

I'll get you guys a picture of their location over the weekend!

Don't bother bro.. 145-157 St John Street is where half of UK registered companies are; it's the best known P/O box, used to see it all the time as an accountant and have a company there myself (company no. 08500013)

As above, from another thread on this topic AEJK claims the address is nothing more than mail forwarding, which is in stark contrast to 'cloud hashings' claims.

On their site they claim to have a physical presence, an office, depicted by a giant red circle:

https://www.cloudhashing.com/contact

I'll swing past on my way back tomorrow morn. If there is nothing to assure they have a physical presence as claimed, then for all intense and purposes, they are out to scam!

We operate out of a virtual office. We never maintained the address posted was a physical address and if you read other posts would had seen we mentioned before it is a mail forwarding address.

Being a new tech startup in expensive London, renting an office space is not advisable nor fiscally prudent. And as we have always maintained , we are not desperate for anybody's business. If you are not happy we would gladly offer you a refund. We do not want unhappy customers. It seems this forum is hell bent on labelling anything that moves a scam.

Anyways if you wish to meet in London or talk over the phone, I would gladly personally accommodate you.

Kind regards

[Bitcoinorama]

Perhaps, they're based near the Lawyer's-ville part of the city, if they truly exist...

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Between Farringdon and Old St;

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

I'll get you guys a picture of their location over the weekend!

Don't bother bro.. 145-157 St John Street is where half of UK registered companies are; it's the best known P/O box, used to see it all the time as an accountant and have a company there myself (company no. 08500013)

As above, from another thread on this topic AEJK claims the address is nothing more than mail forwarding, which is in stark contrast to 'cloud hashings' claims.

On their site they claim to have a physical presence, an office, depicted by a giant red circle:

https://www.cloudhashing.com/contact

I'll swing past on my way back tomorrow morn. If there is nothing to assure they have a physical presence as claimed, then for all intense and purposes, they are out to scam!

We operate out of a virtual office. We never maintained the address posted was a physical address and if you read other posts would had seen we mentioned before it is a mail forwarding address.

Being a new tech startup in expensive London, renting an office space is not advisable nor fiscally prudent. And as we have always maintained , we are not desperate for anybody's business. If you are not happy we would gladly offer you a refund. We do not want unhappy customers. It seems this forum is hell bent on labelling anything that moves a scam.

Anyways if you wish to meet in London or talk over the phone, I would gladly personally accommodate you.

Kind regards

If others want me to verify your legitimacy, I can do that.

It's more than a little naughty that you to have the following Google Maps image on your website suggesting you have a physical office at that location:

I'm more than aware London is expensive, unlike you; I don't just claim to be located here, I actually do live here.

At the very least make it known on your website you do not have a real office there.

There is nothing in the picture above to suggest anything is virtual, and therefore it creates a fraudulent assumption you appear to want to propagate, and to be fair, with the current climate with respect to scams, that's not healthy for you, or anyone else. Why even have it on a map dominating your 'contact us' page?!

It's easy enough to check if you've made such a sizable order with KnC, and presumably you have supporting evidence that is more convincing than your whereabouts.

Please don't take this as me being facetious, but that map is more than a little mirepresentative of your claims above...

[wachtwoord]

Glad you understand that, but you are believing market conditions are the only reason something goes down in price... The value can lead the price down too.

BTC value has gone up and down on its own in its history and sometimes it is on par with the ups and down of its price.   For one example, the more people who accept BTC will increase its value but if less and less accept it, it will lose value.  And BTC has many facets that affect both its value and price

See that's where you are plain wrong. Bitcoin is so young it has only gone up in value. So much of Bitcoin's value is based on seniority because this is the only one true test if what is perfect on paper it is truly feasible. How does it cope with hacking attempts? (which only increase with time). How does it cope with volume? Etcetera...

At any point in history since it's inception Bitcoin's value has been at an all time high. That this isn't true for the price is due to the inefficiency of the market. This is where opportunity lies

[wachtwoord]

It's more than a little naughty that you to have the following Google Maps image on your website suggesting you have a physical office at that location:

...

It's easy enough to check if you've made such a sizable order with KnC, and presumably you have supporting evidence that is more convincing than your whereabouts.

Please don't take this as me being facetious, but that map is more than a little mirepresentative of your claims above...

I agree with this. Don't oversell yourself, especially by lying. People will start doubting everything you say and this is how FUD is born.

Anyway: Looking forward to the first payout in the next (?*) week.

* Are we still scheduled to start mining the 20th of June with July contracts?

[Amph]

Nr 1 rule in business: If it seems like it's too good to be true, it is.

actually is: if all others human do it, therefore must be good, if no, it is bad for sure

[wachtwoord]

Nr 1 rule in business: If it seems like it's too good to be true, it is.

actually is: if all others human do it, therefore must be good, if no, it is bad for sure

I usually do this in reverse. If everyone does it, it's unlikely to be anything special or provide me an edge. If few or none do it, there could be something there

[atariguy]

Nr 1 rule in business: If it seems like it's too good to be true, it is.

actually is: if all others human do it, therefore must be good, if no, it is bad for sure

I usually do this in reverse. If everyone does it, it's unlikely to be anything special or provide me an edge. If few or none do it, there could be something there

There's a lot of really stupid stuff that "everyone" does.

[CoinHoarder]

Perhaps, they're based near the Lawyer's-ville part of the city, if they truly exist...

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Between Farringdon and Old St;

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

I'll get you guys a picture of their location over the weekend!

Don't bother bro.. 145-157 St John Street is where half of UK registered companies are; it's the best known P/O box, used to see it all the time as an accountant and have a company there myself (company no. 08500013)

As above, from another thread on this topic AEJK claims the address is nothing more than mail forwarding, which is in stark contrast to 'cloud hashings' claims.

On their site they claim to have a physical presence, an office, depicted by a giant red circle:

https://www.cloudhashing.com/contact

I'll swing past on my way back tomorrow morn. If there is nothing to assure they have a physical presence as claimed, then for all intense and purposes, they are out to scam!

We operate out of a virtual office. We never maintained the address posted was a physical address and if you read other posts would had seen we mentioned before it is a mail forwarding address.

Being a new tech startup in expensive London, renting an office space is not advisable nor fiscally prudent. And as we have always maintained , we are not desperate for anybody's business. If you are not happy we would gladly offer you a refund. We do not want unhappy customers. It seems this forum is hell bent on labelling anything that moves a scam.

Anyways if you wish to meet in London or talk over the phone, I would gladly personally accommodate you.

Kind regards

If others want me to verify your legitimacy, I can do that.

It's more than a little naughty that you to have the following Google Maps image on your website suggesting you have a physical office at that location:

I'm more than aware London is expensive, unlike you; I don't just claim to be located here, I actually do live here.

At the very least make it known on your website you do not have a real office there.

There is nothing in the picture above to suggest anything is virtual, and therefore it creates a fraudulent assumption you appear to want to propagate, and to be fair, with the current climate with respect to scams, that's not healthy for you, or anyone else. Why even have it on a map dominating your 'contact us' page?!

It's easy enough to check if you've made such a sizable order with KnC, and presumably you have supporting evidence that is more convincing than your whereabouts.

Please don't take this as me being facetious, but that map is more than a little mirepresentative of your claims above...

Wow, just wow. That picture is very misleading indeed.

Also, Cloudhashing is planning on hosting 30+ Terra hashes of equipment, yet they don't have a physical presence anywhere?

Please tell me you are hosting in a data center and not hosting this stuff in your house lol.

[KS]

Perhaps, they're based near the Lawyer's-ville part of the city, if they truly exist...

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Between Farringdon and Old St;

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

I'll get you guys a picture of their location over the weekend!

Don't bother bro.. 145-157 St John Street is where half of UK registered companies are; it's the best known P/O box, used to see it all the time as an accountant and have a company there myself (company no. 08500013)

As above, from another thread on this topic AEJK claims the address is nothing more than mail forwarding, which is in stark contrast to 'cloud hashings' claims.

On their site they claim to have a physical presence, an office, depicted by a giant red circle:

https://www.cloudhashing.com/contact

I'll swing past on my way back tomorrow morn. If there is nothing to assure they have a physical presence as claimed, then for all intense and purposes, they are out to scam!

We operate out of a virtual office. We never maintained the address posted was a physical address and if you read other posts would had seen we mentioned before it is a mail forwarding address.

Being a new tech startup in expensive London, renting an office space is not advisable nor fiscally prudent. And as we have always maintained , we are not desperate for anybody's business. If you are not happy we would gladly offer you a refund. We do not want unhappy customers. It seems this forum is hell bent on labelling anything that moves a scam.

Anyways if you wish to meet in London or talk over the phone, I would gladly personally accommodate you.

Kind regards

If others want me to verify your legitimacy, I can do that.

It's more than a little naughty that you to have the following Google Maps image on your website suggesting you have a physical office at that location:

I'm more than aware London is expensive, unlike you; I don't just claim to be located here, I actually do live here.

At the very least make it known on your website you do not have a real office there.

There is nothing in the picture above to suggest anything is virtual, and therefore it creates a fraudulent assumption you appear to want to propagate, and to be fair, with the current climate with respect to scams, that's not healthy for you, or anyone else. Why even have it on a map dominating your 'contact us' page?!

It's easy enough to check if you've made such a sizable order with KnC, and presumably you have supporting evidence that is more convincing than your whereabouts.

Please don't take this as me being facetious, but that map is more than a little mirepresentative of your claims above...

Wow, just wow. That picture is very misleading indeed.

Also, Cloudhashing is planning on hosting 30+ Terra hashes of equipment, yet they don't have a physical presence anywhere?

Please tell me you are hosting in a data center and not hosting this stuff in your house lol.

35T is 100 Jupiters ≃ 100KW. I *doubt* they will host that at home.

[ArcticWolf]

Perhaps, they're based near the Lawyer's-ville part of the city, if they truly exist...

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Between Farringdon and Old St;

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

I'll get you guys a picture of their location over the weekend!

Don't bother bro.. 145-157 St John Street is where half of UK registered companies are; it's the best known P/O box, used to see it all the time as an accountant and have a company there myself (company no. 08500013)

As above, from another thread on this topic AEJK claims the address is nothing more than mail forwarding, which is in stark contrast to 'cloud hashings' claims.

On their site they claim to have a physical presence, an office, depicted by a giant red circle:

https://www.cloudhashing.com/contact

I'll swing past on my way back tomorrow morn. If there is nothing to assure they have a physical presence as claimed, then for all intense and purposes, they are out to scam!

We operate out of a virtual office. We never maintained the address posted was a physical address and if you read other posts would had seen we mentioned before it is a mail forwarding address.

Being a new tech startup in expensive London, renting an office space is not advisable nor fiscally prudent. And as we have always maintained , we are not desperate for anybody's business. If you are not happy we would gladly offer you a refund. We do not want unhappy customers. It seems this forum is hell bent on labelling anything that moves a scam.

Anyways if you wish to meet in London or talk over the phone, I would gladly personally accommodate you.

Kind regards

If others want me to verify your legitimacy, I can do that.

It's more than a little naughty that you to have the following Google Maps image on your website suggesting you have a physical office at that location:

I'm more than aware London is expensive, unlike you; I don't just claim to be located here, I actually do live here.

At the very least make it known on your website you do not have a real office there.

There is nothing in the picture above to suggest anything is virtual, and therefore it creates a fraudulent assumption you appear to want to propagate, and to be fair, with the current climate with respect to scams, that's not healthy for you, or anyone else. Why even have it on a map dominating your 'contact us' page?!

It's easy enough to check if you've made such a sizable order with KnC, and presumably you have supporting evidence that is more convincing than your whereabouts.

Please don't take this as me being facetious, but that map is more than a little mirepresentative of your claims above...

With respect to your KNCMiner question, if you go to their site (https://www.kncminer.com/) and check the second banner on their home page, you might get an answer to that one

[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

[cloudhasher]

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

Would be good of you do some reading

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]

No math behind 50BTC estimated return for 10GH/s. That's a joke.

The only fact is that your are charging $1,000 for 10GH/s, when it costs $200 or less to you.

Good luck with your ponzi scheme.

[cloudhasher]

No math behind 50BTC estimated return for 10GH/s. That's a joke.

The only fact is that your are charging $1,000 for 10GH/s, when it costs $200 or less to you.

Good luck with your ponzi scheme.

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

Coins per 24h at these conditions   0.2600 BTC
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

[Bitcoinorama]

Where are you based though, really?

Your good-looking website still misleads: Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Even though you appear to have removed the totally misrepresentative map with large red marker stating; "this is our office"...

https://cloudhashing.com/contact

[cloudhasher]

Where are you based though, really?

Your good-looking website still misleads: Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom

Even though you appear to have removed the totally misrepresentative map with large red marker stating; "this is our office"...

Look admittedly the web designer put the map up and have asked for its removal.

We are London based. Willing to meet anybody in the London area who wants to. Will buy you a coffee, my treat :-)

[Bitcoinorama]

If anyone wants me to check them out, i'm London based as well...

[cloudhasher]

If anyone wants me to check them out, i'm London based as well...

Sure PM me if interested and will arrange something

[ArcticWolf]

I like this idea! If I were in London Id take you up on that.
Im getting pretty sick of seeing the word SCAM being attached to anything new that enters the bitcoin market with zero proof or research being done.
Hopefully you guys will start hashing soon and everyone will be forced to eat their words

[cloudhasher]

I like this idea! If I were in London Id take you up on that.
Im getting pretty sick of seeing the word SCAM being attached to anything new that enters the bitcoin market with zero proof or research being done.
Hopefully you guys will start hashing soon and everyone will be forced to eat their words

Absolutely.

As I said to others , if you are sceptical, don't buy a contract or at least wait for July contracts to behind before taking the plunge.

What we are trying to do is take bitcoin to the mainstream. This forum is NOT mainstream. Most of our customers don't reside here. The accusation that get thrown about are wild to say the least.

If you are in the London area anytime let me know and we'll hook up.

Regards

[Rampion]

No math behind 50BTC estimated return for 10GH/s. That's a joke.

The only fact is that your are charging $1,000 for 10GH/s, when it costs $200 or less to you.

Good luck with your ponzi scheme.

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

Coins per 24h at these conditions   0.2600 BTC
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

[ArcticWolf]

you must be so much fun at parties

[Rampion]

you must be so much fun at parties

A fool and his money is soon to be parted.

You are either a shill or a sockpuppet. This is hard math. The returns cloudhashing are advertising are impossible to achieve.

Wake up.

[hardinero007]

hi cloudhash. i bought a 2 ghash/s - 1 year contract months ago for july batch for 300 usd, believing this investment would bring me around 10 btc   your monthly news update states that may, june and july batch will start hashing this june.  knowing now that the mining hardware are yet to be delivered, i'm losing hope that this investment will be valueable, and at the same time i don't want to be called a fool or dumb, hence i want to refund my investment.  please guide me on how to file for the refund.  many thanks, although i'll be pulling out my investment, i hope your company will do good to you and other investors.  looking forward for your prompt reply.

[cloudhasher]

hi cloudhash. i bought a 2 ghash/s - 1 year contract months ago for july batch for 300 usd, believing this investment would bring me around 10 btc   your monthly news update states that may, june and july batch will start hashing this june.  knowing now that the mining hardware are yet to be delivered, i'm losing hope that this investment will be valueable, and at the same time i don't want to be called a fool or dumb, hence i want to refund my investment.  please guide me on how to file for the refund.  many thanks, although i'll be pulling out my investment, i hope your company will do good to you and other investors.  looking forward for your prompt reply.

Sure send an email to info with your order number and it will be processed.

We don't do customer support on this forum.

Kind regards

[Rampion]

hi cloudhash. i bought a 2 ghash/s - 1 year contract months ago for july batch for 300 usd, believing this investment would bring me around 10 btc   your monthly news update states that may, june and july batch will start hashing this june.  knowing now that the mining hardware are yet to be delivered, i'm losing hope that this investment will be valueable, and at the same time i don't want to be called a fool or dumb, hence i want to refund my investment.  please guide me on how to file for the refund.  many thanks, although i'll be pulling out my investment, i hope your company will do good to you and other investors.  looking forward for your prompt reply.

Sure send an email to info with your order number and it will be processed.

We don't do customer support on this forum.

Kind regards

No, because we expose you as the filthy scammers you are.

Show us your business plan, come on. Or do you want people to invest in your contracts and believe they will get 50BTC from 10GH/s deployed in September (LOL) base on what, your word? NO. Investors look at the numbers. Show us your business plan so we can finally understand what is your über-genius plan that will enable you to squeeze 50BTC in 12 months from 10GH/s deployed in September, only by reinvesting 30% of the profit in more hardware.

And do not embarass yourself like in the other thread, were you presented your ridiculous calculations made at the current difficulty and considering no increase in difficulty whatsoever in one year. That was genius, man.

AGAIN: Show - me - the - fucking - numbers.

[almwaysa]

Disclaimer: I do not know any of the cloudhashing guys and I am not accusing them of scam or not.
but here are some numbers with some assumptions that I made.
Assuming difficulty is up %20 per month
Assuming the 10GH contract
I have used the average difficulty over the next two years which would be around 310million.
The net income over two years would be around -197 USD if the value of bitcoin stays the same, which is highly unlikely.

[Kinetic915]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

[kerhac]

Yes, cloudhashing are greedy scammers

[atariguy]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

Where do you get even 10 GH/s for $300 without having it be worthless by the time you get it?

[Rampion]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

Where do you get even 10 GH/s for $300 without having it be worthless by the time you get it?

www.kncminer.com (the provider of cloudhashing BTW) -> $200 x 10GH/s

And they plan to deliver in September, which is the date in which Cloudhashing is planning to start mining (because I already said they are buying their units to KnCminer, right?)

[atariguy]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

Where do you get even 10 GH/s for $300 without having it be worthless by the time you get it?

www.kncminer.com (the provider of cloudhashing BTW) -> $200 x 10GH/s

And they plan to deliver in September

Right, like I said... 

[Tigggger]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

Where do you get even 10 GH/s for $300 without having it be worthless by the time you get it?

(As others have said whilst I was typing), same place that cloudhashing do, KNC Miner.

If you can't afford a full unit, join a group buy like this one...

https://bitcointalk.org/index.php?topic=233624.0

10 GH will cost you 2BTC ~ $216

(No connection to/in that group buy myself, just first one I saw, there are others)

[atariguy]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

Where do you get even 10 GH/s for $300 without having it be worthless by the time you get it?

www.kncminer.com (the provider of cloudhashing BTW) -> $200 x 10GH/s

And they plan to deliver in September

Right, like I said... 

Also, KnCMiner's cheapest advertised unit is nearly $4,000.

[atariguy]

This is basically a scam.  Charging 949 for 10 Ghs is hilarious.  Buy a miner that is faster for ~300 $.

Where do you get even 10 GH/s for $300 without having it be worthless by the time you get it?

(As others have said whilst I was typing), same place that cloudhashing do, KNC Miner.

If you can't afford a full unit, join a group buy like this one...

https://bitcointalk.org/index.php?topic=233624.0

10 GH will cost you 2BTC ~ $216

(No connection to/in that group buy myself, just first one I saw, there are others)

And if KnC is even 3 months late in delivery, you'll never break even.

[Bitcoinorama]

What's worse is the reason Terrahash opened for pre-orders despite promising not to take a cent up until they have units in stock. Their hand was forced because 10,000, of their 20,000 chip order (paid for) was for an order agreed by none other than Cloud Hashing!!

Get this, Cloud Hashing jump ship after KnC are proved more legitimate and demand their $80,000 back from Terrahash. The order was $110,000 in value, but $80k was needed up front to secure the chips from Avalon that Terrahash went and did.

This left Terrahash $80k out of pocket despite securing premises to assemble and further parts etc. for Cloud Hashing's order.

This forced Terrahash to demand pre-orders, something they promised not to, but had to or face bankruptcy before starting.

The community saved Terrahash because Cloud Hashing has no integrity!

http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/

Led to believe you would get the equipment before June. BS, you always knew the deal with Avalon could be delayed as BitSyncom sorted their shit out, but you were happy to jump on board until KnC started looking more legit, then you left Terrahash high and dry whilst making a similar order for something with delivery in September...not June?!

Now, get this it appears Cloud Hashing want back in since Terrahash have had to order another 20k chips to satisfy demand; https://bitcointalk.org/index.php?topic=198489.msg2527527#msg2527527 presumably ahead of the pre-orderers that just saved Terrahash from going under!!

After this, no one should be doing any business with you period, that's just common sense. Integrity is everything!

[Bitcoinorama]

FYI; https://bitcointalk.org/index.php?topic=198489.msg2533684#msg2533684

[merv77]

has anyone noticed KnC has removed the CloudHashing advertisement...

does this mean KnC aren't supplying them anymore?

[titomane]

has anyone noticed KnC has removed the CloudHashing advertisement...

does this mean KnC aren't supplying them anymore?

No, but it seemed weird advertising on a resale of their products by 5x

I'm sure "Cloudhashing" can get us out of doubt

[Rampion]

has anyone noticed KnC has removed the CloudHashing advertisement...

does this mean KnC aren't supplying them anymore?

No, but it seemed weird advertising on a resale of their products by 5x

I'm sure "Cloudhashing" can get us out of doubt

I wouldn't blame KnC for advertising Cloudhashing. At the end of the day, re-selling their products by x5 to x7 is not "illegal", I call this a SCAM because they mislead ignorant people with impossible fairy-tale projections that won't happen, and that's very bad IMO because they profit tricking uninformed folks.

I guess Cloudhashing wouldn't be condemned by a judge, Bitcoin is really scammer's paradise at this stage... The truth is there's really no definitive way to project mining returns, so you can just throw up any number and get away with it, as Cloudhashing is doing. And at the end of the day if Cloudhashing relly buys 100 Jupiters and request to KnC to advertise them, I think it's normal they do...

That said, I'm glad KnC is not advertising cloudhashing any more. That seems to me a very good demonstration of principles and business ethics, like saying: OK, here you have my product, do whatever you want with it, but I won't support a venture that tricks people to invest by using FALSE and IMPOSSIBLE projections on return.

[Bitcoinorama]

has anyone noticed KnC has removed the CloudHashing advertisement...

does this mean KnC aren't supplying them anymore?

No, but it seemed weird advertising on a resale of their products by 5x

I'm sure "Cloudhashing" can get us out of doubt

I wouldn't blame KnC for advertising Cloudhashing. At the end of the day, re-selling their products by x5 to x7 is not "illegal", I call this a SCAM because they mislead ignorant people with impossible fairy-tale projections that won't happen, and that's very bad IMO because they profit tricking uninformed folks.

I guess Cloudhashing wouldn't be condemned by a judge, Bitcoin is really scammer's paradise at this stage... The truth is there's really no definitive way to project mining returns, so you can just throw up any number and get away with it, as Cloudhashing is doing. And at the end of the day if Cloudhashing relly buys 100 Jupiters and request to KnC to advertise them, I think it's normal they do...

That said, I'm glad KnC is not advertising cloudhashing any more. That seems to me a very good demonstration of principles and business ethics, like saying: OK, here you have my product, do whatever you want with it, but I won't support a venture that tricks people to invest by using FALSE and IMPOSSIBLE projections on return.

That's pretty much it, as well as the fact that Terrahash are; "viewing their (Cloudhashing's) allegations in the Coindesk article as Libel/Slander, and are contemplating legal action against them on the basis of that article"...

This is 'Captain Emi's' Facebook page; https://www.facebook.com/Captemmy he looks young, and I have to give it to him he creates (or knows where to pay for) a slick website (template) and at 1,000+ Facebook Fans a pretty good effort at marketing (he appears to focus on Facebook), but his business ethics have been his downfall, it's a shame to see talent wasted. I hope he learns from this, as I keep stating to Cloud Hashing, integrity is everything...!

https://www.facebook.com/cloudhashing

2,000 customers though, ouch, that's a lot of people not getting anything currently despite being promised by this date, and that are about to not got get anything like what they've been told they will in future...

[Bitcoinorama]

Actually ignore everything I've just said about talent, it gets worse - as we know Emmanuel Adedeji is behind Cloud Hashing, and on the 'Cloud Hashing' Facebook page, there he is fraudulently posing as a customer asking questions, he then answers to himself as Cloud Hashing;



Emmanuel Adedeji
@cloudhashing I really appreciate what you guys are doing at cloudhashing. I will like to buy in the July contracts. But will like to know, at the current difficulty level, how much will I get weekly if I buy 10Gh/s?
Like ·  · 8 June at 23:06 via Mobile


Cloud Hashing
At the current difficult level you should earn more than 10 bitcoins per Gigahash per year making 100 bitcoins.
Like · Reply · 9 June at 20:49



Disgraceful business ethics!!

...and they've clearly bought the Facebook likes...

[Rampion]

Actually ignore everything I've just said about talent, it gets worse - as we know Emmanuel Adedeji is behind Cloud Hashing, and on the 'Cloud Hashing' Facebook page, there he is fraudulently posing as a customer asking questions, he then answers to himself as Cloud Hashing;



Emmanuel Adedeji
@cloudhashing I really appreciate what you guys are doing at cloudhashing. I will like to buy in the July contracts. But will like to know, at the current difficulty level, how much will I get weekly if I buy 10Gh/s?
Like ·  · 8 June at 23:06 via Mobile


Cloud Hashing
At the current difficult level you should earn more than 10 bitcoins per Gigahash per year making 100 bitcoins.
Like · Reply · 9 June at 20:49



Disgraceful business ethics!!

...and they've clearly bought the Facebook likes...

Man, this guy is a SCAMMER, we should expose him as much as we can to warn newbies, but unfortunately people will still throw money at him. As he said a few days ago, we are not his "core target", because we know he is scamming, his "core target" is people that never heard about bitcoin and that will gladly buy his contracts... And when they see they spent $1,000 and get only 4 or 5 Bitcoins, there will be two options:

a) BTC will have raised in price, so they will still be happy with their return, because they will not realize that they could have bought 10BTC with that money (or a miner that would have generated more than 4 or 5 BTC for them)

b) BTC price stays more or less the same or go down, and they will just think "this BTC thing is unprofitable"

[Bitcoinorama]

Actually ignore everything I've just said about talent, it gets worse - as we know Emmanuel Adedeji is behind Cloud Hashing, and on the 'Cloud Hashing' Facebook page, there he is fraudulently posing as a customer asking questions, he then answers to himself as Cloud Hashing;



Emmanuel Adedeji
@cloudhashing I really appreciate what you guys are doing at cloudhashing. I will like to buy in the July contracts. But will like to know, at the current difficulty level, how much will I get weekly if I buy 10Gh/s?
Like ·  · 8 June at 23:06 via Mobile


Cloud Hashing
At the current difficult level you should earn more than 10 bitcoins per Gigahash per year making 100 bitcoins.
Like · Reply · 9 June at 20:49



Disgraceful business ethics!!

...and they've clearly bought the Facebook likes...

Man, this guy is a SCAMMER, we should expose him as much as we can to warn newbies, but unfortunately people will still throw money at him. As he said a few days ago, we are not his "core target", because we know he is scamming, his "core target" is people that never heard about bitcoin and that will gladly buy his contracts... And when they see they spent $1,000 and get only 4 or 5 Bitcoins, there will be two options:

a) BTC will have raised in price, so they will still be happy with their return, because they will not realize that they could have bought 10BTC with that money (or a miner that would have generated more than 4 or 5 BTC for them)

b) BTC price stays more or less the same or go down, and they will just think "this BTC thing is unprofitable"

The issue is he has a pretty website and people are idiots, he also seems to have a direct affinity with Coindesk.com, who keep legitimising this venture, either my mistake, lazy journalism, or on purpose, as they keep quoting him in articles...

http://www.coindesk.com/bitcoin-maas-mining-as-a-service-coming-soon/

http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/

Yesterday, just before KnC removed Cloudhashing from their site: http://www.coindesk.com/kncminer-readies-asic-customer-list/

[GilesBathgate]

Actually ignore everything I've just said about talent, it gets worse - as we know Emmanuel Adedeji is behind Cloud Hashing.

Is his name Emmanuel Abiodun or Emmanuel Adedeji? Its odd how they are such similar names. On the other hand why would he make a post on facebook with a username so similar to his own?

[hasher87]

Actually ignore everything I've just said about talent, it gets worse - as we know Emmanuel Adedeji is behind Cloud Hashing.

Is his name Emmanuel Abiodun or Emmanuel Adedeji? Its odd how they are such similar names. On the other hand why would he make a post on facebook with a username so similar to his own?

that name alone sounds like coming from Nigerian scammers lol

no offense tho 

[SirWizz]

Is there a Bitcoin scam exposing blog? If such a thing exists perhaps it would be useful to point their attention towards this "Cloudhashing" company.

Also, from what I have seen in the videos posted from this year's Bitcoin conference, they will try to reduce/eliminate the advantage you gain with an ASIC by the end of the year... if that happens we can all have a thread showing off our expensive press-papiers (not to mention it will make for some very angry customers at Cloudhashing & Co)  .

[polarhei]

What do you guys think of these guys?

https://www.cloudhashing.com

Offering 10Ghs starting in September. Is it in any way a good idea to jump on board? They claim a return of 50BTC for essentially 10BTC (to keep it easy) ... though if you pump the figures into coinish calc, it tells you tou will make about 2BTC profit over two years on its default mode. If you put in difficulty increases of 15% then its never.

Still... i'm tempted. Certainly not going to get an asic any time soon. Thoughts?

Someone talk me out of it. :-)

You are on bad time as cloudhashing used to provide 0.11 BTC giveaway program for early birds, Suggest
 not to do this at this moment

[GilesBathgate]

Is there a Bitcoin scam exposing blog? If such a thing exists perhaps it would be useful to point their attention towards this "Cloudhashing" company.

As per this message. Emmanuel claims to have been cleared as not a scam, by the infamous Coin Canary

[polarhei]

Even the name of the company is wrong... "Cloud" computing and mining are not compatible at all.

And they admit they don't even have any mining equipment yet - it's on order for them just like it is for everyone else.

No offense, but you clearly have no idea what mining is, as mining quite literally is a cloud based system with several independent nodes acting in unison through the Internet



They are awaiting BFL gear I believe, so it might be a while  

Cloud mentions remote service like pyramining. Currently the service only provides a gateway for starter kit.
Additionally, the service relies on Kncminer and ORSoc as BFL has many problem.

[goindeep]

@Bitcoinorama Instead of making all sorts of bad claims that could harm this guys legit business, he offered to take you out for coffee and I assume take you to his premises, did you do that?

End of the day I see nothing wrong with what he is doing and instead smell some jealousy.

Someone said something about them purchasing the likes, firstly where is the proof since you are making a random claim based on your opinion only, secondly if they did buy likes, so what? You do realize massive companies buy likes all of the time they are just smart about it and get their advertising agency to do it for them, lol.

Last but not least, this guy says in his video that they cant guarantee profits, they cant guarantee what's going to happen to bitcoin all they will guarantee is that they will supply you with the hash power you purchase and deposit your earnings into your wallet and so far as I have seen they have been doing this.

Haters gonna hate.

Ill be making a small investment very soon as I'm not in any position to buy hardware and run it myself and this is a great option for someone like me especially since bitcoins price is so high atm. I also heard there will be options for litecoin mining near future, all the more reason.

Cheers

[Paladin69]

$1000 for 20GH...what a jerk...lol

[Bitcoinorama]

@Bitcoinorama Instead of making all sorts of bad claims that could harm this guys legit business, he offered to take you out for coffee and I assume take you to his premises, did you do that?

End of the day I see nothing wrong with what he is doing and instead smell some jealousy.

Someone said something about them purchasing the likes, firstly where is the proof since you are making a random claim based on your opinion only, secondly if they did buy likes, so what? You do realize massive companies buy likes all of the time they are just smart about it and get their advertising agency to do it for them, lol.

Last but not least, this guy says in his video that they cant guarantee profits, they cant guarantee what's going to happen to bitcoin all they will guarantee is that they will supply you with the hash power you purchase and deposit your earnings into your wallet and so far as I have seen they have been doing this.

Haters gonna hate.

Ill be making a small investment very soon as I'm not in any position to buy hardware and run it myself and this is a great option for someone like me especially since bitcoins price is so high atm. I also heard there will be options for litecoin mining near future, all the more reason.

Cheers

Err dude that was months back when they were claiming this was their office:



No jealousy, too many red flags, I know that exact building they were claiming was their office inside and out, personally, and that's no serviced office, nor one with the power required for hosted mining.

I used to work round the corner of it. It's next to Holborn Circus. They were outright lying at a time a lot of scams were taking place on this forum. At the time, months back, they also had no hardware from anyone physically in hand and were making a lot of claims. Doesn't look good when they're not honest claims either, does it?

I have no beef with anyone personally, they were just damn unlucky to pull that stunt, and get called out for it. Fact.

Good for you, you spend your money where you like, based on whatever research you choose to do. I'm thorough. Evidently.

[goindeep]

So after calling them scam artists and all sorts of names after your captain investigator time you obviously went to investigate further and take that offer for coffee and a tour up right?

Also as far as I know from what I have read they began in September and since they are hashing as well as paying out, so much for a scam...

[Bitcoinorama]

So after calling them scam artists and all sorts of names after your captain investigator time you obviously went to investigate further and take that offer for coffee and a tour up right?

Also as far as I know from what I have read they began in September and since they are hashing as well as paying out, so much for a scam...

Man good for them if they got their shit together, you're necro'ing a thread I last posted in June when they were lying about their physical location, and buying facebook likes, whilst promising they were in possession of hardware they never had by the dates they originally promised to have them by, they then screwed over another company, by paying upfront for a bulk order, having that company commit and then pulling out on them last minute due to a fickle change in mind sourcing a deal elsewhere. You think they're offering you a healthy deal over what else exists, go for it.

[goindeep]

Right, sounds like a bit of humble pie is going on.

It's easy being a keyboard warrior.

I also notice you never apologised for your comments given as you say the quite lengthy amount of time since you last posted.. well done, you should be proud.

What you or I think about what he does with his business means absolutely nothing, so long as it is all above board and legitimate. If he wants to place orders and then cancel, that is a transaction that has nothing to do with you or your judgement. That is between cloudhashing and the supplier they did business with. As far as I understand that's not illegal. But that's all I'll say about matters I have no clue about.. hint**hint.

Your whole facebook like rant is pure speculation A) you have absolutely no proof, you may as well call him rape demon as your logic seems to suggest proof is not required when making a flamboyant claim on this forum and B) if they did buy likes, who cares? You can comprehend that many upon many companies do this, it is completely legal, facebook themselves created fake accounts on the face mash, reddit did the same thing. Is it right ethically? I dont know. Is it right morally? Well thats up to the individual to decide? Is it illegal? No.

Let's stick to the facts shall we, initial investors say that all is going well apart from some minor deposit issues due to tech which are apparently sorted out.

[Bitcoinorama]

Right, sounds like a bit of humble pie is going on.

It's easy being a keyboard warrior.

I also notice you never apologised for your comments given as you say the quite lengthy amount of time since you last posted.. well done, you should be proud.

What you or I think about what he does with his business means absolutely nothing, so long as it is all above board and legitimate. If he wants to place orders and then cancel, that is a transaction that has nothing to do with you or your judgement. That is between cloudhashing and the supplier they did business with. As far as I understand that's not illegal. But that's all I'll say about matters I have no clue about.. hint**hint.

Your whole facebook like rant is pure speculation A) you have absolutely no proof, you may as well call him rape demon as your logic seems to suggest proof is not required when making a flamboyant claim on this forum and B) if they did buy likes, who cares? You can comprehend that many upon many companies do this, it is completely legal, facebook themselves created fake accounts on the face mash, reddit did the same thing. Is it right ethically? I dont know. Is it right morally? Well thats up to the individual to decide? Is it illegal? No.

Let's stick to the facts shall we, initial investors say that all is going well apart from some minor deposit issues due to tech which are apparently sorted out.

Sorry if I chose to do business with someone and they get caught out blatantly lying, for me at least, no dice.

I'm willing to believe, with your posting history, straight our of newbie jail, you're more than an 'innocent' customer.

Also they should be careful with treating people as 'investors', the FSA in the UK won't like that one bit. Really.

https://cloudhashing.com/about-us/revenue-reinvestment


    Revenue Re-investment Programme
    revenue reinvestment
    bitcoin investment

Unregulated CIS

If a CIS is not authorised or recognised it is considered an unregulated collective investment scheme (UCIS). If a scheme does not appear on our Register, it is likely to be a UCIS.

Unregulated schemes are not subject to the our rules, so the usual restrictions and safeguards concerning schemes’ investment powers, how they are run, what type of assets they can invest in, or the information that must be disclosed to investors do not apply to UCISs.

UCISs are subject to tight restrictions on who firms may invite to invest in them. Generally speaking they are not available for investment by retail consumers because, by their nature, they are risky products.

http://www.ft.com/cms/s/0/bf9f81ce-ec76-11e1-8e4a-00144feab49a.html#axzz2kNF5MyXs
http://about.bloomberglaw.com/practitioner-contributions/fsas-approach-to-unregulated/
http://www.fsa.gov.uk/smallfirms/your_firm_type/financial/investment/ucis.shtml

[goindeep]

Mate your just being ridiculous now... your commenting on things you have no idea about and just making yourself look like a dill.

Good on ya mate.

I'm done.

[Bitcoinorama]

No, I'm not, and actually I do, and that's without even entering into the fact it's a piss poor deal for anyone. Adios.

If you establish, operate and/or manage your own UCIS then you must have permission to do so.

If this is not the case then you must stop these activities until you have permission in place. We also expect you to notify us of this breach of your regulatory obligations.

Should a firm fail to obtain permission and we find out, we will consider the relevant action to be taken.

http://www.fsa.gov.uk/smallfirms/your_firm_type/financial/pdf/ucis_factsheet.pdf

[CoinHoarder]

Scam? That's debatable.

Bad investment? Absolutely.

[ninjaboon]

can we hash alt coins like TGC or Bytecoin on this contracts?