Cloud Hashing

[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.