Topic: Cloudhashing ASIC mining contracts, UK LTD company - Now Mining & Paying Bitcoin - page 51. (Read 197313 times)

OK..... so when do I get first payment? And now that we're all at 100% can we now discuss our bonus/compensation package?

nono you can get your refund.  they're actually in the process of giving your money back.

Well... Late news is better then no news I guess.

to all those who want a refund, send them a support ticket now.

Shure ! 
I wan't to see the new pool.....

Great news

Hey All,

All contracts are now mining at 100% capacity. Will make an announcement soon about the mining pool.

Regarding payouts. This will be managed by the mining pool.  Hope to give you login details very soon.

Kind regards

Emmanuel

Where s this weeks payout? Why is it late?

They always answer to my emails... Until i ask for a refund...

Smells like a scam...

patience. these people are not scammers. they are giving it their all sorting out these problems. to anyone who wants a refund, you will get it.

the didn't answer to my support tickets.....

+ 100,000,000,000,000              JOKER TOKER LOL ROLF LMAO ECT ECT ECT

Been sitting at 30% for a week now and not a peep from CH... What's up CH???

You realise that only u trying to get more business for CH.
What a hypocrite, first u calling people by names than u advising them how to do to whitdraw the money.

Seriously, thanks to you CH have less customers than EVER.
And to be clear, the biggest troll and fanboy is you.

 thanks bro..  I will post here after the doc lets me know how bad or good it is.

Deprived - you're right that financially speaking it would be stupid to buy hardware (and as long as difficulty keeps rising exponentially you might get away with it), but legally speaking, if you collect funds but don't buy hardware it's a ponzi scheme, and therefore represents fraud. That is a criminal offence pretty much everywhere I believe, even though (ironically) it might be the best thing for retail bitcoin investors right now.

The problem is, with that kind of scheme investors are *guaranteed* not to make a positive (BTC) return, whereas with a group buy they could earn more BTC than they put in (in theory - e.g. if Hashfast and Terrahash turned out to be frauds, KnC stopped shipping etc).

scotjam

philipma - I agree that the jury is still out on whether or not he is a good guy, but it's hard to see any way that any customer could make a profit here.

Having said that, the same is true for most mining purchases these days. We may find that Hashfast and Terrahash will wipe out any returns after December in practice by creating a step-change in difficulty rather than just "regular" exponential growth.

Soon, the only way for individuals to make money on mining will be the same as what weed-growers do right now - bypass the electricity meters and run with free energy. Tough to imagine that working for long though, and there are going to be a lot of broken bitcoin dreams for regular law-abiding folks like you and I.

Hearing your story, it sounds like you've been on quite a journey. Best of luck with your business endeavours (it seems you've had mixed luck so far, but I hope it improves) and more importantly, your operation. I guess the good news (if you can call it that) is that it's something operable. Stay tough.

scotjam

Noone other than the seller was ever going to make a profit 'investing' in this compared to just holding BTC (had BTC risen sharply vs fiat then a profit in fiat was possible).

Mining hardware is presently lucky if it can break even when bought at cost.

Add on 3 different stages of takign a cut out and there was never any chance whatsoever of profit for investors.  If you add on not even being willing to honour contracts then rather clearly a significant loss for all dupes who bought in was in order.  That doesn't make it a scam - any more than selling £50 for £100 is a scam if you can find people sufficiently stupid to buy.

If it's a scam at all it's because of the entirely misleading and unrealistic claims about potential profit made to early investors (think their current claims have reduced from "totally stupid" to merely "isn't going to happen").

What's sad about this is that the operator appears to feel the need to default on contracts,  All he had to do was not bother ordering ASICs at all and he could have paid out based on PPS, avoided a ton of hassle and kept the majority of investors' funds with no risk and no reliance on third-parties.  Mining is, right now, a loss-making proposition unless you have ridiculously low power costs and/or access to hardware at near cost - if you're selling the right to mining output at a massive markup (plus taking a management fee AND keeping 'reinvested' funds at end of contract) then it seems amazingly stupid to actually buy hardware at all.

I'd be tempted to run a scheme like this myself were it not that:

a)  Even with the evidence in front of me in this thread I still struggle to believe anyone's stupid enough to have bought it.
b)  I'm able to make a profit without lying to/misleading/causing loss for others so have no reason to ruin my reputation.
c)  There's just something unattractive to me about ripping people off - no matter how retarded they are and how much they deserve it (and yes - anyone who fell for this DOES deserve it as reward for deluding themselves into believing that they were competent to 'invest').  Doing it would feel like an admission that I lacked the capability to make profit in a more honest and straightforward manner myself.

Pretty sure most buying into this didn't even do basic stuff - like working out the cost/hash and comparing it to things like my DMS.MINING which pays out 100% of PPS equivalent with zero exposure to things like late delivery of hardware.  Let alone doing the more complicated stuff - like working out that people were insistent on overpaying for DMS.MINING for ages even with the ability to take the other side (it's now beyond doubt that early on the market was setting far too high a price on DMS.MINING - even without an issuer ABLE to manipulate the price upwards).

Noone other than a sock-puppet or someone severely mentally defiicent could claim this ever even remotely looked like a worthwhile investment for BTC.  Unfortunately my guess is that most investors weren't of the sock-puppet variety.

you got out and you still visit the thread. makes me think you're still interested what CH is up to.

as for being a CH fanboy, not getting paid by them. i am just protecting my contracts. the more the business is a success the more every contract holder is happy.

to all customers who want a refund:

i encourage that you do.  keep sending messages in CH customer support. they cant avoid you forever. i think it would be best to do it now before they have their farm sorted and at 100% capacity.

thanks.