[ANN] .0014 BTC per GH/s - 12 month contract **www.BitcoinCloudServices.com**

[Mike18feb]

Well, big benefit of services like BitcoinCloudServices is that they don't use actual mining income to distribute amongst customers. Instead they use a fixed formula, which means all the quirks of day to day mining have been taken out. No payments below expectation, though also no lucky extra block finds. Not sure if I would compare that to a bank account, but it means income is quite predictable. With some good knowledge, some good hunches about future difficulty increases and a good calculator you can make an educated guess about long term earnings. Use that as a goal and it can hardly be called unobtainable, so no more reason not to keep on mining. If we forget about risk for a bit ...

[greyfoxsylux]

Considering my push to increase income as quickly as I can, I'm doing what Mike is doing and pushing most if not all of the paid out assets and reinvesting it to constantly increasing payouts. Yes, the risk is high. But as EVE Online taught me, there is no reward without risk. Unless you're a spoiled rich kid whom parents and grandparents are rich beyond belief. But that's a different story.

Seems someone accessed my referral link, and while payout states it'll be 0.1BTC (rounded down) I'm not sure how it'll pay out. All 0.1BTC at once? Or is it gradual over the course of the five year contract? Or is that the daily payout from the referral? Not entirely sure as it isn't explained in full detail at the bottom of the Affiliates page.

[Mike18feb]

Heh, I was reinvesting just about all. Either in hashrate, or in means to get more hashrate, and the how and what of that second part I'll keep to myself, though one part is power consumption at home

Now I'm saving a portion of the (Bit)coins I make, and I do not reinvest all at once anymore. Trying to stick to a system of not doing things too quickly, and keeping some for those exceptional opportunities every once in a while. I actually spent some on KNC Miners recently, over 1TH/s for less then a bitcoin. Power isn't cheap here, but I did use earlier profit to buy wind turbine power for the next 15 years, so I can burn a bit more electricity at home. Thinking about doing that again as total power usage was supposed to double, but it's going towards tripling

Okay, for the referral thing, if you gained a referral then you should have received an email stating that you have a referral for 0.0087 BTC or something. Just a number I picked, think that one';s for the minimum amount of hashrate, 40GH/s. But that email contains the exact amount you'll receive. Since BCS offers a 7 days money back guarantee, that amount will be "Unpaid" (yellow dot with rounded down number in the table on the referral page) until after those 7 days. After the 7 days have passed you'll receive the full referral amount as stated in the email at the next payout.

[Ritch]

My personal BCS-result so far:
07.07 - 09.08. / 31.882% ROR -> 0.966% average interest per day.
Atm the price on CEX is very low (0.0033/GHS), so a reinvestment of BCS-Outputs in CEX would be a compound till you reach on CEX the sum for a second BCS-contract. Two vendors = half risk.

best regards

[Ritch]

But as EVE Online taught me, there is no reward without risk. Unless you're a spoiled rich kid whom parents and grandparents are rich beyond belief. But that's a different story.

For sure.   Money only comes to money - and without any risks you will never become ri(t)ch [or a leader in EVE).

best regards

[Mike18feb]

Ritch, I think that's the first post of you that doesn't contain the word compound 


@BitcoinCloudServices.com: Finally have a good reason to ask, the new interface stuff, will there be an option to change payout dates? Currently payout is set to once a day. After I've ordered hashrate, in the Details View I see an option Payout Preference: Daily. That suggests other settings are possible. Can it be changed to weekly, or some other settings? And will that be something you can set yourself in the future?  It would be a good feature.

[greyfoxsylux]

Which now makes me wonder. Would all future purchases on the referred account reward to me the 10% commission? Or do they have to access that link every time they make a purchase?

Mike, I know I used your ref link on first purchase, but for my second contract I logged in and purchased a contract directly. Not sure if you got the bonus for that one too.

[Ritch]

Ritch, I think that's the first post of you that doesn't contain the word compound  

*lol* Well, c****** is important.


@BitcoinCloudServices.com: Finally have a good reason to ask, the new interface stuff, will there be an option to change payout dates? Currently payout is set to once a day. After I've ordered hashrate, in the Details View I see an option Payout Preference: Daily. That suggests other settings are possible. Can it be changed to weekly, or some other settings? And will that be something you can set yourself in the future?  It would be a good feature.

As long we don't pay transaction fees, there is no need to change the sequence of payout days. A dayly payout is good for daytrading, to get dayly c******* interests. *$$* [i.e Yesterday I made about 2% on CEX with earnings from BCS.]
I would like BCS to offer a list in my account of all my dayly payouts with a little %-math as in my last posting, so I don't have to copy&paste them manualy in EXCEL.

best regards

[greyfoxsylux]

Unless Mike's using a lightweight wallet like Multibit. The long transaction history can really make it chug.

[Mike18feb]

Which now makes me wonder. Would all future purchases on the referred account reward to me the 10% commission? Or do they have to access that link every time they make a purchase?

Mike, I know I used your ref link on first purchase, but for my second contract I logged in and purchased a contract directly. Not sure if you got the bonus for that one too.

Well, the ref page states that "You earn commissions from returning customers". I interpret that as a Yes, when people buy again, the original referrer gets credited.
I'm not sure which one is you, greyfoxsylux. The email just states the amount, and there's nothing else in the email that can be linked to anyone. Not that I receive loads of those emails, but I did get two or three in the past days
No big amounts, but maybe that will change. Guess most people are careful. I see the same sort of thing on PBMining. People buy a small contract and in the following weeks they buy a bigger amount.

I'm not using Multibit. I've got Electrum installed, but I'm not using it until I understand it fully. Or until I understand the restore functions properly! All the memory words and stuff like that confuse me. Mainly I'm using the good ol' original Bitcoin wallet. If I have to reload the entire chain it'll take ... days?! So, just in case of such an unfortunate event, I also use an online wallet. Two actually

As long we don't pay transaction fees, there is no need to change the sequence of payout days. A dayly payout is good for daytrading, to get dayly c******* interests. *$$* [i.e Yesterday I made about 2% on CEX with earnings from BCS.]
I would like BCS to offer a list in my account of all my dayly payouts with a little %-math as in my last posting, so I don't have to copy&paste them manualy in EXCEL.

I get it, but I'm not a day trader, and I still have to sit down and try and fully understand your wise teachings about comp**nd stuff. But really, I don't have time for day trading as well, so, for me, weekly payments would be just fine. Perhaps you could set up a day trading service and take 10% of the profit

[Ritch]

I get it, but I'm not a day trader, and I still have to sit down and try and fully understand your wise teachings about comp**nd stuff. But really, I don't have time for day trading as well, so, for me, weekly payments would be just fine. Perhaps you could set up a day trading service and take 10% of the profit

I own no stock brooker license that allows me to play with other people's money. (And I would never do it because *For money the friendship ceases*.) But if you don't have any time for private daytrading, so have a look to so called "BOTs". Some of that programms offer a free "test before buy". They are risky, "complicated" to understand, but trade faster than any human can do because computers are build for numbers and math (except the Juppie-Brookers on Wall Street ).
Let's say a BOT would trade ten times a day automatic with a netto-income of even 0.1% per (cross-)trade, it would be 1% per day. Well, I need no BOTs but time and often a lot of patience ... and every time I win I feel fine, because I'm human but no machine.
The only problem in cross-platform daytrading is the long time of BTC- and Altcoin transactions, while Fiats are transfered in realtime on "real" marketplaces/brookersides.

best regards

[greyfoxsylux]

@Mike: How much were they, the referral rewards? I purchased contracts on the 29th of July and the 6th of August. It'll help confirm if you need to re-use the ref link for every contract purchase.

@Ritch: The Cryptsy exchange doesn't need to constantly withdraw and deposit, since the trades can be instant and you have your own addresses on the exchange to use, so use of bots on Cryptsy can be advantageous.

EDIT: I've figured out part of the referral system. Seems the ref award is based on 10% of the referred user's purchase. So if I bought a 40GH/s contract for 0.112BTC, 0.0112BTC is given to the referee. Short term this is great, long term it is disadvantageous. But helps keep affordability of upkeep in check.

EDIT2: I've used Electrum-LTC, and one of the things that bothered me about it was my addresses were disappearing but later showing up. Not sure if that was a bug or intentional security feature. Oh well, maybe I'll try Bitcoin's Electrum later on and see how it works. I like Multibit's featureset though, and am quite used to the User Interface

[Mike18feb]

I've sent you a pm with the details I have, greyfoxsylux 

As for the referral reward, in the previous program you would receive 10% of the hashrate that was bought. If someone bough 100GH/s you would get 10GH/s.
In the current program, if someone buy's 100GH/s at current price, you would get a one time 10% payment of 0.2800 BTC, which is 0.0280 BTC. Now, if you were to purchase hashrate with that, you would effectively have the same as the old program. On the other hand, if you check how much BTC you would get from the 10GH/s over 5 years (or rather like 1 year cause after that payout will be too low), then you can wonder what's best. Have the entire amount in hand now, or spread out over a long time. Benefit of this program versus the old one, now you have a choice

[Ritch]

@Ritch: The Cryptsy exchange doesn't need to constantly withdraw and deposit, since the trades can be instant and you have your own addresses on the exchange to use, so use of bots on Cryptsy can be advantageous.

IXC BOT-Trading on Cryptsy could be nice and 2-3% per day should be possible.
But first of all I would like BCS to offer a user-changeable output-adresse, without asking the support.

best regards

[hiddensphinx]

What does "Rejected Referral Earnings" mean

[Mike18feb]

Rejected means someone ordered hashrate but didn't pay the order

[btccloudservices]

What does "Rejected Referral Earnings" mean

Hi.

Unpaid Referral Earnings:  If a customer pays for an order these earnings are on hold for 7 days, unless a customers asks for a refund these earnings will become paid earnings.

Paid Referral Earnings: these are earnings paid straight to your Bitcoin wallet and are paid from this address
https://blockchain.info/address/1Bonus1rCVr98RVQC3a8aT2dHGJYK2xnf8

Pending Referral Earnings: When a customer places an order, the status of the order becomes pending. As soon as it's paid it becomes unpaid earnings for  you. If the customer doesn't pay they'll change from pending to rejected.

Rejected Referral Earnings: These are unpaid orders and customers that placed an order and decided to cancel during the 7 day money back guarantee period.


We'll be adding more information in the support area

https://support.bitcoincloudservices.com/hc/en-us

[btccloudservices]

Ritch, I think that's the first post of you that doesn't contain the word compound 


@BitcoinCloudServices.com: Finally have a good reason to ask, the new interface stuff, will there be an option to change payout dates? Currently payout is set to once a day. After I've ordered hashrate, in the Details View I see an option Payout Preference: Daily. That suggests other settings are possible. Can it be changed to weekly, or some other settings? And will that be something you can set yourself in the future?  It would be a good feature.

Hi.

The new customer area will be live shortly. It's taking a little bit longer than expected but we are testing it as I write.

A lot of our customers have expressed that they've been overwhelmed by daily payouts and most have expressed the interest of having  weekly payouts.

Currently after placing an order you see the estimated mined coins until your first payout, in the new customer area you'll be able to see a balance of the mined coins and this value will be updated to the minute.

For security payouts will not be  on demand, they'll be automatic and we'll never store customer funds in the server. We are still deciding if we give customers the ability to decide if they want a daily or weekly payout. After testing we'll have more information on how payouts will be handled.

[odlal]

Hi btccloudservices,

I hope you can clear something up for me

Are BitcoinCloudServices in any way connected with Lunamine  ?

The reason I ask is because I was back-tracking my recent Payout from Lunamine and it seems as though one of your wallets paid some BTC into a wallet which was then used by Lunamine in their payouts !

BtcCloudServices have this wallet : https://blockchain.info/address/1BTCPayb5AdF8fSsR7oews2PpuVpRtamk6

which has paid many times into : https://blockchain.info/address/16XR452HG58Yc2cQPiC1C8PCc9ysp5iq6q

one of which was THE FIRST PAYMENT on the 31st July of 0.075 BTC into : https://blockchain.info/address/1MDkF5KeYwSzZZQZ5kgfjgadMXbALm58Fn

which Lunamine then paid some of into MY wallet on the 4th August with this Transaction  : https://blockchain.info/tx/37213268d61f21a1b6a42bd996a93b528c4247732af814a64c2ce82ec47ff14c

Hence it does look like BitCoinCloudServices has had something to do with the setting up of at least one of Lunamine's payout Wallets ? Of course this could be a 100% Business Transaction but I'd appreciate it if you could shed some light on this matter please !

Thanks very much,
Odlal.

[btccloudservices]

Hi btccloudservices,

I hope you can clear something up for me

Are BitcoinCloudServices in any way connected with Lunamine  ?

The reason I ask is because I was back-tracking my recent Payout from Lunamine and it seems as though one of your wallets paid some BTC into a wallet which was then used by Lunamine in their payouts !

BtcCloudServices have this wallet : https://blockchain.info/address/1BTCPayb5AdF8fSsR7oews2PpuVpRtamk6

which has paid many times into : https://blockchain.info/address/16XR452HG58Yc2cQPiC1C8PCc9ysp5iq6q

one of which was THE FIRST PAYMENT on the 31st July of 0.075 BTC into : https://blockchain.info/address/1MDkF5KeYwSzZZQZ5kgfjgadMXbALm58Fn

which Lunamine then paid some of into MY wallet on the 4th August with this Transaction  : https://blockchain.info/tx/37213268d61f21a1b6a42bd996a93b528c4247732af814a64c2ce82ec47ff14c

Hence it does look like BitCoinCloudServices has had something to do with the setting up of at least one of Lunamine's payout Wallets ? Of course this could be a 100% Business Transaction but I'd appreciate it if you could shed some light on this matter please !

Thanks very much,
Odlal.

Hi Odlal.

We are not connected to them in any way and apart from 1BTCPayb5AdF8fSsR7oews2PpuVpRtamk6 we don't control any of the address that you mention.

16XR452HG58Yc2cQPiC1C8PCc9ysp5iq6q is controlled by one of our customers, there is a possibility  that this customer placed an order with them and eventually you were paid from these customer's funds.

You can see that this address 16XR452HG58Yc2cQPiC1C8PCc9ysp5iq6q is included everyday in our payouts but I'm afraid I can't disclose information more  about this costumer.