Topic: Cloudhashing ASIC mining contracts, UK LTD company - Now Mining & Paying Bitcoin - page 2. (Read 197380 times)

You are right, the blockchain confirms your statement

https://blockchain.info/charts/received-per-day?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=1ALA5v7h49QT7WYLcRsxcXqXUqEqaWmkvw

It's as though there is no duty of care.

There is no reply to my communication, requesting reasonable customer care. Details posted previously on this site.

I have additional communicated the following to Cloudhashing today:-

"You have not answered all my questions.

Your duty of care to your clients does not appear to have an action plan.

There has been nothing mined for the last 6 days.

You advised your clients a procedure to reinvest to keep up withe difficulty changes. I have more than followed the advice given. Your withdrawal of the ability to reinvest is a breach of contract. You have not informed us in a newsletter.

You need to provide me with a plan that protects my investment so as to make good.

You need to Impress me"

No blocks mined in 5 days?  Even with the 1.72 PH that's left, we should be averaging 1 block per 28 hours.  I need another contract payment so I can tell if it's the right amount or if part of it is being stolen to pay someone else.

Going to check this out!

Here is a link that Cloudhashing gave me to monitor their mining success rate. Here is the performance for the last 12 months. Abandon hope, it sucks.

https://blockchain.info/charts/received-per-day?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=1ALA5v7h49QT7WYLcRsxcXqXUqEqaWmkvw

To my mind, Cloudhashing do not give a damn about their client base. And now I believe the removal of their Reinvestment Program is a ploy for us to buy their outrageously priced contracts from scratch.

This paragraph is merely my opinion. Without a reinvestment program there is absolutely no chance of breaking even, With a reinvestment program, there was the possibility. I guess all my reinvestments are going expire without breaking even. And the company will not compensate. My advice is, until Cloudhashing value their customers and treat them with respect AND honour the contracts that they sold, they should be avoided. They cannot be trusted. In the past year all my correspondence has been cordial with Cloudhashing. The correspondence below is showing signs of exasperation.

This is my latest Dialog with Cloud Hashing.

ME
Dec 05 08:20 PM

Hi

Whats happened to the reinvestment program, and the reinvestment settings. They are no longer visible.

The last time I logged in the reinvestment was to be December 2014. Now I see no mention of it. There should be a considerable amount from my account going to reinvest as I had it set to 70%, and I can't make head or tail of what is there and what is not there.

When I started this, YOUR advice was to reinvest 30% to keep ahead of the game. I have been reinvesting 70% and It's not even going to break even as to my investment. PLEASE ADVISE ALL THAT IS GOING ON

I haven't received a newsletter in ages.

CLOUDHASHING REPLY
Dec 11

Hello!

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.

We will restore the program in the future and will announce it's return through the newsletter at that time.

I'm very sorry for any confusion or inconvenience! Please let us know if there's anything else we can do for you.

Amira

ME IN RESPONSE TO " Please let us know if there's anything else we can do for you."

There is no confusion

I purchased  "contracts"* in good faith based on the guidelines of what I could expect from you on your web site. You stated that :

•    to keep up with difficulty increase to reinvest 30% per month (I reinvested 70%)
  
•    You stated that reinvestment would be once per month. (It isn't)

* "Contract" = an agreement between two party's, that I agreed to

You have not reinvested once per month.

You did not issue a newsletter informing us of what is going on.

Contracts last a year, there never was a chance of making good on the investment in a year WITHOUT A REINVESTMENT PROGRAM. You have not honoured the contract. That to my mind is a breach of contract.

You need to solve this to my satisfaction before my contracts run out. Right now I am not impressed. The easy option is to refund, that is not what I want, I require my expectation to be met.

I AM AWAITING A RESPONSE FROM CLOUDHASHING But since they ignored some of my questions in the original correspondence, I hold little hope of satisfaction. "Inability to throw a party at a brewery," springs to mind.

Anyone notice that the problems escalated when they merged with another company. I always thought that was a bad move.

Yep, RRP has been discontinued, and today their hash power has dropped from 3600 TH to 35 TH.  My funds for the current RRP round are queued to be sent back to me.  They have 877 BTC on their mining address, and I hope they'll do the right thing and distribute all of it to their customers.  

Edit: Back up to 2340 TH now.

i was a supporter of CH last year and didn't mind giving them a chance with their business model.

now i say this:  do not buy a mining contract with them.  i was lucky to get my money back last year because BTC shot up to 1200 usd last year and was able to sell some at near the highs.  now they are pretty much worthless.  i think they were betting on BTC staying up above 1000 usd to make their business profitable.  but that ain't the case.

i think they are even starting to stop RRP now.  this only means they are closing shop soon.  please spread the word via twitter and other social media.  people need to be informed.

i am not saying CH is an outright scam.  it's just not profitable.

Just waiting for cloudhashing.com to be slapped with a lawsuit we all know it's coming sooner or later.

IM trying to include cloudhashing in my cloudmining overview here:

https://bitcointalksearch.org/topic/m.9568209

Some questions Ive not yet found answers to:
-Is there any recent proof of hardware ownership/hashrate? Mining address, datacenter pics, pool ID,.. I know they used to mine on bitminter, but thats some time ago.
-Any numbers of hashrate sold vs deployed and proof of the latter ?
-Any recent (non BFL) endorsements from asic vendors?
-Is there an exit strategy for customers ? ie, possibility to sell/transfer a contract?

thx;

Are you sure that's not a typo? That maintenance fee is just over twice as much as AMHash's and the price per Gh/s is $0.11 more as well (@ 400 $/BTC), and it requires you to buy a minimum of 500 GH/s. If that's a sale, I'd hate to see what they normally charge.

Seriously?  CH, quit the false advertising.  $0.59 + ($0.10 * 12 months) = $1.79 per GH. 

Update your price for new contracts to $1.79, and quit charging the $0.10 fee.  You'll come out ahead that way, because you'll get all the fees up front, rather than having your fees exceed your customer's income.

So...
your new sale is listed as:
Hash Sale - only $0.59 per/GH!
sounds ok but...
"Hosting fee of $0.10 per Gh per month will be deducted from earnings. "   ? Really?

so for 1TH I pay $590...ok
1TH (this month) with an estimated 3.64% increase in difficulty,  may ballpark around $127...ok

BUT taking $100 a month back ($.10 x 1000)... not ok
$27 the first month profit....only to get worse quickly after that.

why so high a hosting fee all of a sudden???

Does anybody know if your contract automatically ends after one year or will they sneakily put you up for another year?

I feel like the most out-there part of this dream is that MK was thin and handsome. It must be a parallel universe where he's allergic to frappuccinos.

So, I had a dream last night that I was invited to Cloudhashing's office for a tour.  But in the dream, Mark Karpeles owned the company, because the office/data center was his house.  I got to meet Mark himself, and he was thin and handsome.  It was a big house, with people playing on computers in every room.  There was very little mining equipment, though - just like 4 BFL's sitting on a table.

I have written 4 support emails to Cloudhashing trying to get this resolved. Not a single response to any of them.

They cancelled my payout for no reason. Basically stealing my BTC that I had earned.

This is from my payments tab;

8930    contract_payment    Sept. 23, 2014, 5 p.m.    0.00089845    0.00089845       
8929    bitcoin_payment    Sept. 23, 2014, 11:09 a.m.  -0.02039922    0.00000000 cancelled    
8928    revenue_reinvestment_witholding    Sept. 23, 2014, 10 a.m.    -0.00011443    0.02039922       
8927    management_fee    Sept. 23, 2014, 10 a.m.    -0.00008998    0.02051365       
8926    contract_payment    Sept. 23, 2014, 10 a.m.    0.00089980    0.02060363

They stopped the payment and didn't reissue it. I have been asking them why with no response.

This is flat out robbery of my account.

I want my BTC payment reissued and paid.

I also want an explanation as to why you would even do this to one of your clients.

Dear Cloudhashing, since you advertise daily payouts, could we have one today? 

so after literally 10 days, i finally received my coins...... their customer service is something else lol

im just glad i got my coins though

Hi

Send an email to support(from homepage) with your username. If it has a status "Requested" it means it is pending.

Regards

I had 16 BTC on this site due to my cointerra being sent under them, just tried to withdrawal a 16 BTC balance, it said that the BTCs have been sent out but i did NOT receive them at my hash address....

cloudhashing team can you please look into this