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Author Topic: Cryptomine.io - SHA-256 & Scrypt Unlimited Mining Contracts  (Read 30688 times)
pawel7777
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December 07, 2014, 12:21:42 PM
 #81


Don't be so sure. Mathematically in this way, it can take years .. so you have to wait a little ..

I think by design it's rather short term project:

...
I estimate that we are going to be completely independent by the end of February and we will be able to post videos and images of our setups and asic boards. It will be worth the wait.

So probably he/they aimed to wind up by Feb or shortly after.

The recent post of cryptomine and his sudden change of tone can indicate that things are probably not going smooth for them.

You should consider cashing out any "mining" incomes on a regular basis.

They also have a clause in their T&C:

Quote
3. Rightful Return and Refund
 3.1. You have the legal right to cancel a Service Agreement during the first 14 days if you change your mind or decide for any other reason that you no longer want to receive our Services.
 3.2. You can cancel a Contract and receive a refund, according to clauses 4.4. and 4.5. of the Mining Capacity Share Agreement. Refund period is not limited to the first 14 days, although cancellation fees apply to every situation. Read every Agreement carefully.
 3.3. Advice about your legal right to cancel the Contract is available from your local Citizens' Advice Bureau or Trading Standards office.

If you've invested in the last 14 days you can ask for the refund and see what happens.

As for highlighted part, there are no 4.4 and 4.5 clauses in T&C and don't see any separate Mining Capacity Share Agreement anywhere. Very amateur copy/paste work.


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Cryptomine.io
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December 07, 2014, 12:49:04 PM
 #82



As for highlighted part, there are no 4.4 and 4.5 clauses in T&C and don't see any separate Mining Capacity Share Agreement anywhere. Very amateur copy/paste work.



The Mining Capacity Share Agreement is issued with every contract and clients are asked to review it carefully  before making a purchase.
We will also honor all substantiated refund requests we might receive without a problem.


Dear pawel777, you are beginning to throw unsubstantiated accusations in the air and to preach doom just to see what happens. Or, perhaps you have some other interests you are serving. Your motives are however, irrelevant.
I can understand all theories that have a base in reality and prove somewhat sound reasoning, but you are beginning to sound like nothing more than a paid agitator.   I have no choice but to report you to the moderators. You are way off base.
 
pawel7777
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December 07, 2014, 12:59:10 PM
 #83


Dear pawel777, you are beginning to throw unsubstantiated accusations in the air and to preach doom just to see what happens. Or, perhaps you have some other interests you are serving. Your motives are however, irrelevant.
I can understand all theories that have a base in reality and prove somewhat sound reasoning, but you are beginning to sound like nothing more than a paid agitator.   I have no choice but to report you to the moderators. You are way off base.
 


And please do continue your angry rants. I haven't had such a good time in years. Smiley


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December 07, 2014, 09:35:30 PM
 #84

Well ... was 0.0000160/Gh per day , now it fall to 0.0000150/Gh per day. Ofc you need to minus  electricity cost -  0.0000022/Gh per day and you get - 0,0000128. Far away from others higher cloud's rewards , but still most cheap per 1 gh/s, for now... Question - why so quick fall reward for 0.000001 btc ? its quite much..  What can we expect for another month ? another reward fall ? Finaly your cheapest price for 1 gh/s want be so atractive on the market if we take reward index.
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December 08, 2014, 10:32:29 AM
 #85

i just try withdraw my balance

it is not automatic sir ?

how long to wait ?
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December 08, 2014, 11:38:00 AM
 #86

Hi everyone, sorry for the long pause, but I didn't have time to check in the last few days.
...
To sum it up, yes, we are more profitable. And we will be lowering our rates a little on Monday too.

Hi,

will you change the price today ?

regards
Stefan

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December 08, 2014, 12:00:39 PM
 #87

Well ... was 0.0000160/Gh per day , now it fall to 0.0000150/Gh per day. Ofc you need to minus  electricity cost -  0.0000022/Gh per day and you get - 0,0000128. Far away from others higher cloud's rewards , but still most cheap per 1 gh/s, for now... Question - why so quick fall reward for 0.000001 btc ? its quite much..  What can we expect for another month ? another reward fall ? Finaly your cheapest price for 1 gh/s want be so atractive on the market if we take reward index.

I'm not sure what to say about other cloud services' mining rewards, but you must be aware that as bitcoin mining difficulty increases, profitability goes down, at the same pace.
However, we compensate by lowering our prices slightly every time mining conditions dictate it. This is detailed on our website, here: https://cryptomine.io/profitability.php  

Also, keep in mind that the reward received only matters in relation with maintenance costs and contract price.

Withdrawal requests are processed manually, several times per day. We opted for this method of processing to avoid any unforeseen circumstances or automation problems.
Cryptomine.io
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December 08, 2014, 12:33:54 PM
 #88

Hi everyone, sorry for the long pause, but I didn't have time to check in the last few days.
...
To sum it up, yes, we are more profitable. And we will be lowering our rates a little on Monday too.

Hi,

will you change the price today ?

regards
Stefan


Hello Stefan,

Yes, we will adjust prices slightly today.
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December 08, 2014, 12:51:51 PM
 #89

Hi everyone, sorry for the long pause, but I didn't have time to check in the last few days.
...
To sum it up, yes, we are more profitable. And we will be lowering our rates a little on Monday too.

Hi,

will you change the price today ?

regards
Stefan


Hello Stefan,

Yes, we will adjust prices slightly today.

What kind of change would it be in the prices? And will these be permanent?

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December 08, 2014, 01:12:24 PM
 #90

Hi Eric, when will you fix the purchasing problem on firefox ?
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December 08, 2014, 03:07:19 PM
 #91

I'm not sure what to say about other cloud services' mining rewards, but you must be aware that as bitcoin mining difficulty increases, profitability goes down, at the same pace.

Was there a difficulty increase? Last I heard it decreased.

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December 08, 2014, 03:34:52 PM
 #92

I'm not sure what to say about other cloud services' mining rewards, but you must be aware that as bitcoin mining difficulty increases, profitability goes down, at the same pace.

Was there a difficulty increase? Last I heard it decreased.

I am not just referring just to the last change. But since we started, at the beginning of November rates have been quite constant, which is a very lucky break.

All website problems have been addressed and everything works properly now.  Purchasing issues on certain browser versions has been fixed.

Electricity costs have been factored in the displayed rates, as these were already being deduced by our internal engine and subtracted again by the user when calculating estimations.
This is why certain users felt that profitability is not making sense.


We also lowered our prices a little today:

Bitcoin Mining Power - $385 per Th/s
Altcoins Mining Power - $12,45 per Mh/s

The price changes are permanent. Even if these are not very significant, for Bitcoin especially they are meant to gauge more interest to Scrypt mining contracts.
We will not raise prices if mining difficulty continues to decrease.
Mabsark
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December 08, 2014, 04:10:37 PM
 #93

The reward information on your website is incorrect, it's showing as 0.00001720 BTC Gh per day. At the current difficulty, the theoretical reward  should be 0.00001257 BTC per Gh per day before maintenance costs.
polz
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December 08, 2014, 04:45:28 PM
 #94

The reward information on your website is incorrect, it's showing as 0.00001720 BTC Gh per day. At the current difficulty, the theoretical reward  should be 0.00001257 BTC per Gh per day before maintenance costs.

maybe late to update the website
Mabsark
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December 08, 2014, 05:20:43 PM
Last edit: December 08, 2014, 06:52:39 PM by Mabsark
 #95

The theoretical payout hasn't been that high since the initial post in this thread. In fact, it hasn't been that high since the difficulty was 29,238,750,955 which was back in the beginning of September.
Cryptomine.io
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December 08, 2014, 06:49:29 PM
 #96

We're implementing final changes regarding prices & rates.  Didn't want to take the website down just for this, as it's going to be over  in under an hour.
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December 08, 2014, 11:36:42 PM
 #97

The "current reward" is still wrong! It's been changed to 0.00001500 per Gh per day.

Here's the equation:

Reward = Hash Rate * Block Reward * 86400 * ((65535 / 2^48 ) / Difficulty)

1*10^9 * 25 * 86400 * ((65535 / 2^48 ) / 40007470271) = 0.00001257 BTC

Why are you misleading potential customers by making your service seem more profitable than it actually is?
polz
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December 09, 2014, 04:19:57 AM
 #98

We're implementing final changes regarding prices & rates.  Didn't want to take the website down just for this, as it's going to be over  in under an hour.


i look electricty cost raised from 22 to 23  Undecided
Cryptomine.io
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December 09, 2014, 02:47:34 PM
 #99

The "current reward" is still wrong! It's been changed to 0.00001500 per Gh per day.

Here's the equation:

Reward = Hash Rate * Block Reward * 86400 * ((65535 / 2^48 ) / Difficulty)

1*10^9 * 25 * 86400 * ((65535 / 2^48 ) / 40007470271) = 0.00001257 BTC

Why are you misleading potential customers by making your service seem more profitable than it actually is?

The current reward displayed on our website is accurate.
Please don't forget the luck factor involved in cryptocurrency  mining. On our website we display the latest daily mining result obtained.
The theoretical calculations show an average possible mining reward, not a maximum one. The actual results can vary quite a lot, depending on the pool luck factor.
There is always room for optimization and certain pools manage to swing the luck factor in their favor more of the time than others.

We are not misleading anyone and the reward displayed on our website is the actual reward our clients received the day before. We try to keep things as accurate as possible.
If you are interested in purchasing a mining contract to see how we do things first hand, I will be more than happy to accommodate your request.

 

i look electricty cost raised from 22 to 23  Undecided

Electricity prices are fixed at $0.000816 / Gh per day and $0.014 / Mh per day.  Please note these are fixed in USD and when Bitcoin drops in value, as is the case now, naturally, electricity prices expressed in BTC will increase slightly.
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December 10, 2014, 02:46:36 PM
 #100

very good site and Instant buy
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