Topic: Bitcoin.com Cloud Mining unfair payment. I want my money back (Read 285 times)
Most possible you loose your payment to them. There are a lot of scam mining sites all around, so if you invest in one, you must be 100% sure, that this is reliable mining site, which give you back also some profit. Of course it is not easy task to find good and reliable cloud mining.
Only those newcomers will believe in cloud mining. I feel that the benefits of cloud mining are worse than some scam ico. At least those scam ico can still make money if you sell in time, but cloud mining is impossible to earn money.
All of those scammy cloud mining sites are all SCAM! Stop wasting your money to a crappy passive income, you must do it on your own with hard work.
It must be obvious by now that people simply don't care. It wasn't rewarding to cloud mine last year, and has become far less rewarding today, but the number of people investing in cloud mining keeps increasing.Cloud mining platforms manage to attract people based on how they market themselves, and their marketing skills are quite impressive. If you can still attract capital from people in today's world, you are doing your job well.
These platforms might even be paying YouTubers to shill for them. It happens a lot when it comes to ICOs and other schemes, so why should it not happen with cloud mining? YouTubers don't care as long as they get paid.
I have invested in a cloud mining in the past, but I later found out that my weekly profit is too low. I have calculated that it will take at least one and a half years to return, and the cloud mining contract period is only one year. , so I don’t think cloud mining is trustworthy, don’t invest in them.
I don't know why I had this feeling that Op was just trying to bad mouth a particular cloud mining site to the advantage of the other. Although, its a generally accepted fact that all cloud mining sites are bound to exhibit some scamming attribute at some time in their life time. While some might be immediate, the other might come at a later period. But on the matter being discussed, why would anyone go ahead and invest $92k on cloud mining to be earning a paltry $2 dollar in a day it would take 126 years to break even. And when he realize that another platform is paying better (assuming he didn't know about this), why didn't he withdraw and invest in the better option which I believe a rational investor would have done and not coming on the forum to make a fuss about it.
Maybe the good decision that we can make is avoid to join this mining site, because many people here saying that cloud mining is scam so I think you cant get you money from them.
This is a good lesson for us.
This is a good lesson for us.
All of those scammy cloud mining sites are all SCAM! Stop wasting your money to a crappy passive income, you must do it on your own with hard work.
It must be obvious by now that people simply don't care. It wasn't rewarding to cloud mine last year, and has become far less rewarding today, but the number of people investing in cloud mining keeps increasing.Cloud mining platforms manage to attract people based on how they market themselves, and their marketing skills are quite impressive. If you can still attract capital from people in today's world, you are doing your job well.
These platforms might even be paying YouTubers to shill for them. It happens a lot when it comes to ICOs and other schemes, so why should it not happen with cloud mining? YouTubers don't care as long as they get paid.
I hope that you learned your lesson well, it's been a while here that cloud mining sites are being talked because of their scammy scheme. You should do some research first before you put your money onto something that you think is good but they weren't really serious about it. All of those scammy cloud mining sites are all SCAM! Stop wasting your money to a crappy passive income, you must do it on your own with hard work.
Are those numbers real? $92,201?
Did you really trust bitcoin.com with their cloud mining scheme? there's too much warning here on forum that don't invest to cloud mining, they are scam.
Did you really trust bitcoin.com with their cloud mining scheme? there's too much warning here on forum that don't invest to cloud mining, they are scam.
who will responsible for this loss
Bitcoin.com is owned by Roger Ver but I also saw this.That Shaun Chong looks similar to a person named Tom Bud of BitcoinOre, a fork of BTC using Proof of Capacity for mining, but it had the picture photoshopped to make the eyes look bigger lol.
BitcoinOre has changed their team page.
379 TH/s gives 2$ ... I invested 92201 USD on bitcoin.com cloud mining and before one year paying me 2$ a day. I had also invest on minergate.com at the same time but for 18.49 TH/s they give me 10.77 USD. It means bitcoin .com should give me 220$ a day not 2$.
and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
That's why you should ask first so you could've get at least some information about that site then you could've have avoided it sooner. Cloud mining have a bad reputation in the first place I understand why you would risk your money and gain much more after but cloud mining isn't for that use. and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
Is this number real: 92k$? I really don't believe you have invested so much money in that site. Have you ever thought that they took the money you invested to pay for you monthly?
379 TH/s gives 2$ ... I invested 92201 USD on bitcoin.com cloud mining and before one year paying me 2$ a day. I had also invest on minergate.com at the same time but for 18.49 TH/s they give me 10.77 USD. It means bitcoin .com should give me 220$ a day not 2$.
and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
When first you invested so much money and was getting only 2$, that time itself you should have known that you are getting very low payment and you got scammed because the amount you invested for that you should have got 10times more then what you got. Now it is waste of crying here after 1year. Better accept that you got scammed from starting and now you can't do anything
Almost everyone comments the same, why did you trust that website... OP already understand that he don't had yo trust them but let's help him, not judge.
Almost everyone hates Roger Ver here...
Have you tried to contact them on your issues? Don't know their terms but usually miners include following: If mining difficulty rises and they are unable to pay you, they'll let it mine for one month and after that if mining is still unprofitable, they cancel your contract without any refund.
If you invested so much money, there is no way you get so low profit. Even 400$ worth GPU can give you pure 2$ profit a day.
Almost everyone hates Roger Ver here...
Have you tried to contact them on your issues? Don't know their terms but usually miners include following: If mining difficulty rises and they are unable to pay you, they'll let it mine for one month and after that if mining is still unprofitable, they cancel your contract without any refund.
If you invested so much money, there is no way you get so low profit. Even 400$ worth GPU can give you pure 2$ profit a day.
Absolutely insane that you trusted a cloudmining company, out of all the crypto companies out there, with $90,000- you could've gotten miners and had them hosted or even started a small farm. The only entity that wins in cloudmining is the company that sells the hash in the end, and Bitcoin.com explains it on the same page that they sell their hash at-
By selling the hash to you, they essentially offset risks to you instead of mining themselves.
Anyways, it's all about fees like what everbody has mentioned above me. What I find interesting, though, is the fact that the Bitcoin.com mining site states you're supposed to be making $12.34 a day with 379TH/S on their 2-year plan instead of the $2 you're making. I assume the plan you purchased a year ago used S7s instead of S9s (the current plan) to hash, and thus your daily rewards are on the edge of going negative (as electrical and maintenance fees reduce actual profits to basically nothing). Why Minergate pays you almost $10 daily I have no idea- SHA256 should not be paying that much, especially after fees.
Quote
Selling the contracts at a discount of what they will actually earn allows us to leverage our working capital to grow much much faster than we would be able to otherwise.
By selling the hash to you, they essentially offset risks to you instead of mining themselves.
Anyways, it's all about fees like what everbody has mentioned above me. What I find interesting, though, is the fact that the Bitcoin.com mining site states you're supposed to be making $12.34 a day with 379TH/S on their 2-year plan instead of the $2 you're making. I assume the plan you purchased a year ago used S7s instead of S9s (the current plan) to hash, and thus your daily rewards are on the edge of going negative (as electrical and maintenance fees reduce actual profits to basically nothing). Why Minergate pays you almost $10 daily I have no idea- SHA256 should not be paying that much, especially after fees.
No idea why they are paying you less than what you are getting on another site in terms of per TH/s when you bought the contracts at the same time. But this is what you are handing over when you entered the contracts, they determine your payouts and you have no say in it. Refunding you is unlikely as well.
They did have a refund option I think for the period that they were relocating overseas due to Chinese regulations, but you didn't take that offer?
The most plausible explanation is probably the fact that your maintenance fees on your bitcoin.com contract is higher than that of Minergate's. Cloud mining has just too many risks to make it even remotely close to a good investment, imo, regardless of the site you invest on.
They did have a refund option I think for the period that they were relocating overseas due to Chinese regulations, but you didn't take that offer?
The most plausible explanation is probably the fact that your maintenance fees on your bitcoin.com contract is higher than that of Minergate's. Cloud mining has just too many risks to make it even remotely close to a good investment, imo, regardless of the site you invest on.
Unfortunately, cloud mining services is barely regulated so i doubt government would help you in this case. Also, considering their bitcoin.com shady reputation (such as misleading users between BTC and BCH) and their way to run agenda makes me doubt you would get your money back.
But, the most important question is have you considered/calculate the maintenance/electricity fees for bitcoin mining since with 0.1$/kWh already take more than 70% of your income
Based on those factors already you can already presume on how much you would able to receive in terms of profits.The thing i doubt or curios about is the payment between bitcoin.com and minergate. $2 compared to $10? Am i missing something?But, the most important question is have you considered/calculate the maintenance/electricity fees for bitcoin mining since with 0.1$/kWh already take more than 70% of your income
This had been mentioned and advised for a thousand times that cloud mining wont really be profitable for long term specially when they do already set out contract durations.
379 TH/s gives 2$ ... I invested 92201 USD on bitcoin.com cloud mining and before one year paying me 2$ a day. I had also invest on minergate.com at the same time but for 18.49 TH/s they give me 10.77 USD. It means bitcoin .com should give me 220$ a day not 2$.
and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
You shouldn't even trusted any of those cloud mining companies at the very first even they really pays you. Didn't you made any research or even understand first how those cloud mining works before putting that huge amount of money on it? People are talking about it everywhere right now that investing on this type of investment is not worth it. I'm not sure but I think you will not be able to get your money back, what you can do is wait, unfortunately you will have to wait years before you can break even with that $2 a day. And hope that this company will not turn into scam like what previous cloud mining company did. and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
I can’t even entirely finished your post because of dismay. Why would you do such thing, trusting a sites and invest that much money without even trying to weight in the risk.
If you have researched first about cloud mining then this would never been happening to you. The sad part is it’s done and now your whining about it.
Without proper agency in regulating this sites then the chance of refund is zero, but do coordinate again to the owner or support team, if nothing happens then try to report on cybercrime department on your country.
If you have researched first about cloud mining then this would never been happening to you. The sad part is it’s done and now your whining about it.
Without proper agency in regulating this sites then the chance of refund is zero, but do coordinate again to the owner or support team, if nothing happens then try to report on cybercrime department on your country.
It depends on how much maintenance fee is charged and what is their fee structure. Over time as your profits decrease, maintenance fee will become the major factor when it comes to cloud mining as to determining the profitability of your contract.
In your case, your contract is probably going to get terminated under a year due to the fact that your maintenance fees are more than your profits.
Regarding the move out of china:
You could have refunded your entire contract, but I think that now that their miners are back online, it's not really an option anymore.
You should have read more reviews before you invested such a large amount of money, honestly. There were already accusations of bitcoin.com underpaying compared to other pools(https://www.reddit.com/r/btc/comments/7rf1mz/bitcoincom_wants_to_take_advantage_of_its_cloud/).
With the centralised structure that all cloud mining companies are set up, you don't have a chance accusing them as scammers or even requesting a refund, because they control everything. They have control over how much you earn, without needing to provide you proof that they're actually earning this much money, and they have control over your funds. No point investing in any of them.
In your case, your contract is probably going to get terminated under a year due to the fact that your maintenance fees are more than your profits.
Regarding the move out of china:
Quote
Lifetime Contracts Paused, Full Refunds Available Due to regulations in China regarding Bitcoin mining, we are moving our mining equipment out of China. Unfortunately this means that we need to pause all lifetime mining contracts until the transition is completed. Only lifetime contracts are affected. Other contracts, such as 1 year or 6 month mining contracts, are located in the USA so are not affected. You have two options at this time: Receive a 100% full refund of your initial USD cost (paid in BCH at current exchange rate). Your contract will permanently end if you chose a refund. Pause your contract from January 18th until approximately April 30th while we move our hardware to a data center outside of China. Refunds are available now, and can be requested until our hash rate is back online. To receive your full refund, please go to your purchased contracts page, click on your contract, then click "Refund" to complete the process. If you prefer your contract to be paused until our hash rate is back online, no action is required. We thank you for your patience and understanding.
You could have refunded your entire contract, but I think that now that their miners are back online, it's not really an option anymore.
You should have read more reviews before you invested such a large amount of money, honestly. There were already accusations of bitcoin.com underpaying compared to other pools(https://www.reddit.com/r/btc/comments/7rf1mz/bitcoincom_wants_to_take_advantage_of_its_cloud/).
With the centralised structure that all cloud mining companies are set up, you don't have a chance accusing them as scammers or even requesting a refund, because they control everything. They have control over how much you earn, without needing to provide you proof that they're actually earning this much money, and they have control over your funds. No point investing in any of them.
379 TH/s gives 2$ ... I invested 92201 USD on bitcoin.com cloud mining and before one year paying me 2$ a day. I had also invest on minergate.com at the same time but for 18.49 TH/s they give me 10.77 USD. It means bitcoin .com should give me 220$ a day not 2$.
and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
and also bitcoin.com stopped mining about 2 month for migrating from china to us. who will responsible for this loss
What should I have to do to get my money back ?
before putting lots of money to somewhere you should do some research first specially on cloud mining where you are very lucky if you reach ROI within a year, mining difficulty is constantly increasing and your payout from mining will decrease overtime as expected
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