Topic: Cloudhashing ASIC mining contracts, UK LTD company - Now Mining & Paying Bitcoin (Read 197425 times)

It's not unheard of that many of these miners operations have been shutting down lately and I didn't read this thread to til the end but it seems people should recognize, that despite their so-called positions, the gameplan just doesn't make sense nor work any longer. OTOH, it's BS which could be the case these days. Not so positive.

post pictures. 

I just received the same offer. Back when I bought the contract (May 2014), 10 large for 2.2 Th/s for 1 year, it was performing nicely until August or so. received about 7 btc in 4 months, which would of been fine, had the payouts remained the same, or the price of bitcoin stayed above 500. The main thing was that Abiodun had promised an increase to 8+ Ph/s by December. Instead it DROPPED from 4.4 Ph/s when I bought the contract to where it is now- 1.7 Ph/s.
 Good thing is I live in Austin, TX, where I went to Cloudhashing's physical office to purchase my contract. I will be going to pay them a visit today or tomorrow.

I don't think they're running any miners anymore.  They haven't made any contract payments in 2 weeks, and that's after promising weekly payouts from their pool mining.  

All contracts will be gone in 45 days, either by buyout or cancellation, unless someone wants to pay maintenance fees out of pocket.

Yep, breach of contract in shutting down the miners.  Go after Emmanuel Abiodun personally.  

At this point, I'm looking to do what would hurt them more then allow me to get back more.

Offering me 6 dollars for something I originally paid out 1000 plus for just doesn't strike me as a good deal.

If everyone with a contract or more decided to sell off their contracts, Cloudhashing would have less mining power to maintain, hence lowering their monthly overhead. So I'm theorizing that those that decided to stick around may actually start to see some returns, while also having to shell out for Cloudhashing's new increased maintainence fees. So Cloudhashing would have to keep those miners mining just to be able to charge the maintenance right?

Well what if no one went for the deal? Cloudhashing would have to keep running the miners, hoping that each customer's hashing power would make enough btc to pay for the maintenance fee. But what if no one paid the maintenance fee but withdrew it instead? The miners would run for 30 days while each account was in arrears, until they were eventually canceled.

I personally think choking Cloudhashing for 30 more days by not being able to make the 11 dollars they say they'll need to maintain my mining contracts is a better plan than getting 6 dollars from them. Hopefully if a majority of contract holders decide not to take the deal, Cloudhashing will have no choice but to sweeten it.

Thoughts?

can these bozos be sued?  or reported to the feds?

The doors are closing soon.  I just received notice that they're planning to charge $0.15/GH per month in management fees, which is considerably more than expected earnings, even if they were still hashing, which they're obviously not.  As an alternative, they're offering to buy my contracts for $0.18/GH, which is pitiful, but better than zero.

bankrupt yet?

No more payments since December 21st ... And no reply from customer service ... they probably went on holyday after this period of hard work.

My balance has zero'd out now, with no explanation.

Can't login via Google Authenticator

I can no longer log in to the site as I had 2 factor auth set up and it now requires this when I go to login. When I enter the (generic) 6 digit code provided by google auth app (tied to my gmail.com email address) it does not validate.

Does anyone know if there is a manual key or barcode to add CH as an account to my google auth app?

I use 2 factor on a number of accounts/sites so am familiar with it's use. It seems it should either work with the generic code generated (tied to my email account and CH email acct), or there should be a link/page that has a manual key or barcode to enter.

WTF? emailed support Dec 18, 2014, no response....

Going to watch this one and see how it works out. Last few start ups by company's  have seen turned out to be all scam or ran into a lot of problems from the get go and ended up folding being UK company's that had start ups. Actually went to a few locations and turned out to be 100% scam location and business. Maybe if this takes off and things make some progress and actual visits to site and other formal visits can be made and to buy into shairs of company then maybe consider it but until then will see how this progresses.

To keep you informed. This is my latest email to Cloudhashing.

TO CLOUDHASHING

Plea to act with integrity

The Terms and Conditions state

10.2 Notice of Changes. We will notify you of any Changes in one of the following ways, in our sole discretion: (a) sending an email; or (b) providing notice when you log in to your Account or otherwise use our Services. Unless otherwise provided, notice of any Changes will be given to you at least seven days before the effective date of such Changes. Notice of any Changes will be considered to have been given to and received by you on the third business day after such notice was provided or made available to you, unless you provide notice by email rejecting those changes to [email protected], including the words, “I REJECT THE NEW TERMS” in the subject line.

YOU have changed the contract without any notification. Your web site says one thing and your actions another.

It is my opinion that you are now fraudulently operating, and breaching contract.

You have not answered my further questions.

You have not provided an action plan to protect my investment. You are deliberately taking the route to void my investment by not having reinvestment.

Please advise what is to stop me from reporting you to the police. If I do not hear from you with a valid plan in 48 hours from now. I will start to take further action against you.

Up until now I have been polite, patient and courteous. Please think carefully to restore my confidence in cloudhashing.

You should know that I am broadcasting my experience publicly on the internet. If you continue to violate the agreement, I will broadcast it. If you make good, I will broadcast it. How I portray you is up to you.

END OF COMMUNICATION

This is so that I can give them every good chance to come good.

Agreed, this is very interesting... They established themselves early on as a key player in cloudmining.  I wonder what's going on, maybe maintenance, upgrades? My guess is that they are shutting down racks of equipment because the dip in BTC prices.

Cloudhashing is wearing out my patience.

The company is registered in the UK. The site provides the following information.

Address: 145-157 St John Street, London EC1V 4PW, England United Kingdom
We are fully incorporated under the Companies Act 2006 as a private company.
Company Number: 8418155, VAT registration number 170241249.

The Terms and Conditions state

10.2 Notice of Changes. We will notify you of any Changes in one of the following ways, in our sole discretion: (a) sending an email; or (b) providing notice when you log in to your Account or otherwise use our Services. Unless otherwise provided, notice of any Changes will be given to you at least seven days before the effective date of such Changes. Notice of any Changes will be considered to have been given to and received by you on the third business day after such notice was provided or made available to you, unless you provide notice by email rejecting those changes to [email protected], including the words, “I REJECT THE NEW TERMS” in the subject line.

They have changed the contract without any notification.

The company, is now fraudulently operating, and breaching contract.

The British police have a site to provide a central point of contact for information about fraud and financially motivated internet crime, Here

www.actionfraud.police.uk

I strongly believe that a financially motivated internet crime is being played out before our eyes.

I am very tempted to report them. If I do, IS ANYONE WILLING TO DO THE SAME AND REPORT BACK HERE?

The easiest answer is that they shut down the rest of the miners to save money, or to sell them.  I imagine that some of that hash power belonged to customers, unless those customers have managed a refund or something.  Otherwise they probably could have used the spare hashes to provide RRP when it was originally due 3 months ago.

My payment today was 30% less than what I expected.  I assume that they would divvy up the block payment based on today's hash rates, not the average hash rate over the last 6 days, which would be more difficult to calculate.

RRP has been discontinued because :-

1. You can no longer set or see it on the dashboard
2. It has been re-credited back to you.
3. Amira of Cloudhasing Support in one of my previous postings here stated to me when I asked "Thank you for reaching out to us regarding RRP. Currently, the revenue reinvestment program is suspended and all funds that were previously retained for that purpose have been restored to your regular CloudHashing balance."

You can't get any clearer than No 3 above. The annoying thing is that they have not changed their web site to reflect it. They are still touting it as a sales pitch. They are lying to potential customers. And they have betrayed existing customers. They need to get their act together.

Questions to ask :-
1. If they are still making sales
2. why has the mining hash rate gone down?
3. Why is re-investment not possible?
4. Why is support so slow?
5. Why have there been no newsletters for months?
6. Why is their mining so abysmal?
7. Why do they insult their customers intelligence?
8. Why is their facebook link dead?
9. Why is there crap on their other social media pages?

Maybe the founder was genuine, but when companies combined, he certainly had less clout.

I am tired of being nice with cloudhashing. I will state things the way I see it and right now.

After 6 days of nothing mined, something has been mined today. Not alot.

This thread and other forums need to bully Cloudhashing to act in our favour. We must not allow them to f**k with us the way they are doing now.

I have declared war. However, if Cloudhashing respond favourably, I will report it.

Aside from looking at a dashboard (mine, and I assume yours), how do you know that RRP has been discontinued? I don't doubt it, I'm just looking for more info, perhaps an announcement or newsletter.

Disgruntled, especially since I just re-upped with a new 500GHS contract on Dec 1.

Just now waking up to the cloudhashing problems.

Thoughts on why the hashing rate plummeted to 1.7 P?

Another point of interest is that apparently they are all out of contracts and their hash sale is over yet there is only 1.7ph rate. Obviously this was a scam company you can bet it will be gone very soon.