Any experience with: bitcoinfrenzy.com ???

[julianll]

Hey, I have just seen a few mining contracts in http://www.bitcoinfrenzy.com they have a link in https://en.bitcoin.it/wiki/BitcoinFrenzy claiming that:

BitcoinFrenzy sells mining contracts in 1 Gigahash units with Fixed & Indefinite contract types.
Fixed Contract - 1 and 2 year period .
Indefinite Contract comes with revenue reinvestment program
The service is quoted to begin mining in September 2013[1]. They plan to operate KnCMiner Rigs. Current Hash rate on preorder with KncMiner is 6300 GH/s.
 
Anyone else has experience with them or knows personally who runs this?

The customer service works fine. But they are only releasing the contracts one week before starting mining in september so there´s not much info besides the Terms and Conditions. Anyone else has invested there? 

[1715031056]

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[1715031056]

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[bitcoindigi]

Search the forums: https://bitcointalk.org/index.php?action=search;advanced

[SnowMonkey_CG]

Search the forums: https://bitcointalk.org/index.php?action=search;advanced

Search doesn't seem to bring up anything relevant.

[julianll]

Search the forums: https://bitcointalk.org/index.php?action=search;advanced

Thank you I´ve done that but there´s no info about them. Besides some post they made a couple of years ago when they started mining. And a recent comment about mining power. My actual query is if I´m the only one considering investing in them, they have a facebook page with only 4 likes and a twitter page with 3 followers... kind of strange...

[SnowMonkey_CG]

Search the forums: https://bitcointalk.org/index.php?action=search;advanced

Thank you I´ve done that but there´s no info about them. Besides some post they made a couple of years ago when they started mining. And a recent comment about mining power. My actual query is if I´m the only one considering investing in them, they have a facebook page with only 4 likes and a twitter page with 3 followers... kind of strange...

I'm considering them too, but am also new to mining contracts and have the same questions as yourself.

I'm also considering a couple of others, of which cloudhashing sounds the better.

[julianll]

Well at least it´s good to know that someone else is out there considering them...

I think that the best is to diversify... perhaps one contract with them and another with other providers...

Sometimes being early adopter has it´s benefits, let´s hope we don´t have to pay all the cost and at least get the investment back...

They seem cool but they need to work on the legal and jurisdictional aspects of the contracts. Currently offering subscriptions with only a one page ToS and an undisclosed ¨company¨ based in India is not the best way to build trust.

Maybe if they incorporate properly and draft the actual contracts in a reputable jurisdiction they would appear to be more trustworthy... 

[SnowMonkey_CG]

Well at least it´s good to know that someone else is out there considering them...

I think that the best is to diversify... perhaps one contract with them and another with other providers...

Sometimes being early adopter has it´s benefits, let´s hope we don´t have to pay all the cost and at least get the investment back...

They seem cool but they need to work on the legal and jurisdictional aspects of the contracts. Currently offering subscriptions with only a one page ToS and an undisclosed ¨company¨ based in India is not the best way to build trust.

Maybe if they incorporate properly and draft the actual contracts in a reputable jurisdiction they would appear to be more trustworthy... 

Did you decide to take the plunge?  I think I've made my decision and cannot trust them.

[bitcoinermaster]

IT IS JUST A 26 YEAR-OLD GUY IN INDIA...

I did some research and here are my findings:

• I went to bitcoinfrenzy.com and placed an order (I didn't pay, and I used anonymous data) just so that I could be taken to the payment checkout page.
• The Payza checkout page said "Thank you for shopping with: DAFEXO TECHNOLOGIES PRIVATE LIMITED"
• A simple Google search revealed the company registration page [http://www.zauba.com/company/DAFEXO-TECHNOLOGIES-PRIVATE-LIMITED/U72200TN2013PTC092923] and it lists the following people as the Directors (CHRISTUDAS ARUN, JAMESARUMAINAYAGAM DANIELBLESSO, SUNDARAM ARUNPRABHU, STEPHEN JENSTIN RAJKUMAR)
• After googling the first name, it turns out Arun Christudas was born on 20 October 1987, and is originally from Kuzhithurai (a district in the Indian state Tamil Nadu)
• He now lives in Chennai, and studied Information Technology at Sathyabama University
• He doesn't seem to have a job, and he certainly hasn't published anything related to his company Dafexo Technologies Private Limited aka bitcoinfrenzy.com
• The Facebook [https://www.facebook.com/silverwebworks] pictures show old Xbox 360 equipment on messy desks, and a rather unprofessional presentation of the character himself(
• Finally, his 1TB Seagate seemed to have crashed with his 700GB data in it and he doesn't know whether he lost it all - I will definitely not be trusting him with my bitcoin details!
• The other people I found from the list above are: Daniel Blesso (and his Facebook profile is https://www.facebook.com/jdblesso?fref=pb&hc_location=friends_tab - nothing major to report, except that he's just a buddy of Arun Christudas) and also Jenstin Rajkumar (at https://www.facebook.com/jenstin.rajkumar)

I will DEFINITELY NOT be buying any contracts from bitcoinfrenzy.com since it appears it is just a bunch of friends in India who put together a website (that DOESN'T EVEN HAVE HTTPS or SSL enabled for their registration or payment pages!!!) and want to make a quick buck from people who'd like to invest in bitcoin mining.

Be very careful where you put your money.

[rednazbtc]

Looks like a scam.

[obekt]

I've bought $99 contract on September 19, 2013
It stays in Processing status on their site. Two weeks ago I wrote to support and asked what is going on?
There was a short reply like "mining starts next week".
Still nothing.

[obekt]

Last week I've received email mining has started so today I've received my first payment. Dashboard is still not ready but it looks like they will get on track.

[LuisBCoin]

Any other experience?

[nobrain]

I just registered to warn you, fellow miners, against bitcoinfrenzy. When I first bought the contract, it was stated that - for a 99$ contract -  we would have received approximately 5 bitcoins by the end of the year. We were going to receive payments weekly, which makes 5/52 = 0.09 BTC/week.

After almost 3-4 months of delay, they started mining and I have been receiving 0.01-0.02 BTC/week for 4 weeks.

Also their support team is not supportive at all. I contacted them on several occasions and they did not bother to write more than 2 sentences.

[dcolvard]

I purchased a 5GH contract today for $199.  I will let you know what I find.  So far the status page just says processing.

[peer2peer360]

Thanks to everyone who has posted in this thread about bitcoinfrenzy.com

Im performing due diligence atm & i will be taking into consideration all of whats
Been shared in this thread..

I currently own a few indefinite contracts with trustworthy &  reputable 
Company  but im in the market of investing in another  mining-as-a-service company.

Im more attracted to the indefinite contracts that the company offers. Especially if
Btc is to ever reach 10k, 50k, or 100k  imagine getting paid  a small percentage of those numbers
Every  2weeks for years to come...

One can only imagine  at this point.

May 2014 be a prosperous year for you.

Best regards

[Street Jammer]

IT IS JUST A 26 YEAR-OLD GUY IN INDIA...

I did some research and here are my findings:

• I went to bitcoinfrenzy.com and placed an order (I didn't pay, and I used anonymous data) just so that I could be taken to the payment checkout page.
• The Payza checkout page said "Thank you for shopping with: DAFEXO TECHNOLOGIES PRIVATE LIMITED"
• A simple Google search revealed the company registration page [http://www.zauba.com/company/DAFEXO-TECHNOLOGIES-PRIVATE-LIMITED/U72200TN2013PTC092923] and it lists the following people as the Directors (CHRISTUDAS ARUN, JAMESARUMAINAYAGAM DANIELBLESSO, SUNDARAM ARUNPRABHU, STEPHEN JENSTIN RAJKUMAR)
• After googling the first name, it turns out Arun Christudas was born on 20 October 1987, and is originally from Kuzhithurai (a district in the Indian state Tamil Nadu)
• He now lives in Chennai, and studied Information Technology at Sathyabama University
• He doesn't seem to have a job, and he certainly hasn't published anything related to his company Dafexo Technologies Private Limited aka bitcoinfrenzy.com
• The Facebook [https://www.facebook.com/silverwebworks] pictures show old Xbox 360 equipment on messy desks, and a rather unprofessional presentation of the character himself(
• Finally, his 1TB Seagate seemed to have crashed with his 700GB data in it and he doesn't know whether he lost it all - I will definitely not be trusting him with my bitcoin details!
• The other people I found from the list above are: Daniel Blesso (and his Facebook profile is https://www.facebook.com/jdblesso?fref=pb&hc_location=friends_tab - nothing major to report, except that he's just a buddy of Arun Christudas) and also Jenstin Rajkumar (at https://www.facebook.com/jenstin.rajkumar)

I will DEFINITELY NOT be buying any contracts from bitcoinfrenzy.com since it appears it is just a bunch of friends in India who put together a website (that DOESN'T EVEN HAVE HTTPS or SSL enabled for their registration or payment pages!!!) and want to make a quick buck from people who'd like to invest in bitcoin mining.

Be very careful where you put your money.

We received a threatening email on November 8 from bitcoinermaster, 8c048181@anon.leemail.me   , He didn't even mention his name and email . His intentions were different .

Whats the point in digging into our old facebook posts ?

These were the final words of that email " If I don't hear from you by Sunday 10 November I will simply make sure you never do business with Bitcoin again "

We have had few issues and delays in starting the contracts for june - october batch customers -  kncminer delayed the shipment and october batch we got machines with Die 0 problem , It took time to get replacement from Kncminer .

To compensate the lost earnings due to delayed start we have announced GH/s increase which will be provided in January. We were doing our best to provide service to our customers , We have proper office and stuffs which is verified by Godaddy . We now have Extended Validation Certificate - EV -SSL which is issued by godaddy



We now have around 3500 Customers and making payouts every-week .

[Street Jammer]

I just registered to warn you, fellow miners, against bitcoinfrenzy. When I first bought the contract, it was stated that - for a 99$ contract -  we would have received approximately 5 bitcoins by the end of the year. We were going to receive payments weekly, which makes 5/52 = 0.09 BTC/week.

After almost 3-4 months of delay, they started mining and I have been receiving 0.01-0.02 BTC/week for 4 weeks.

Also their support team is not supportive at all. I contacted them on several occasions and they did not bother to write more than 2 sentences.

We have displayed the estimates for educational purpose , To provide what they can get for $99, we displayed a rough estimate back in june 5BTC @ 100$ conversion rate , ( 500$ Earning by the end of the year)

Currently 1BTC is 779USD at the time of posting this , You still make 1.04BTC at this rate = 810USD

[alt229]

For shits I decided to do a 2GH indefinite mining contract for $250.  I figured I made that much speculating on dogecoins so I might as well try and squander it on something else ;-)

I'll keep you guys posted with the results from this order

[alt229]

My order says it was processed on the 17th and I received an email saying that the first payout should be this Friday.  It's only 2Ghs but forever is a long time :-)

[nobrain]

We have displayed the estimates for educational purpose , To provide what they can get for $99, we displayed a rough estimate back in june 5BTC @ 100$ conversion rate , ( 500$ Earning by the end of the year)

Currently 1BTC is 779USD at the time of posting this , You still make 1.04BTC at this rate = 810USD

Okay this does not make sense. If somehow the value of a bitcoin drops to 10$, then will you start paying more bitcoins every week?