Topic: is cloudhashing.com a scam?? - page 13. (Read 46806 times)

I think you're wrong - they've got a massive opportunity to be the first company to offer main-stream mining shares (that I know of) and they'd be total mugs if they walked away from it for a quick kill.  Obviously they're operating under the same constraints as everyone else trying to get Asics into production - but they've put an infrastructure into place to enable their business - they're placing orders, clearly, and they've got a delivery  date that they can't drag out as long as BFL.  Why are you calling Scam?

Disclosure - yes I've got a contract with them and I haven't received any BTC yet - wasn't expecting to.

Yes they are.

No they arent a scam guys..

His name in Nigeria is like John Smith in America.

One thing that comforts me.  They're using KNC.  KNC is legit, it's been confirmed. KNC is sponcoring "Life on Bitcoin."  Time will tell when I get that first payment this month

All I saw was lots of Facebook pages with similar-named people....

a quick google search of his name

https://www.google.com.bn/search?q=Adeniyi+Emmanuel+Abiodun&client=firefox-a&hs=EbQ&rls=org.mozilla:en-US:official&channel=fflb&biw=1680&bih=900&source=lnms&sa=X&ei=TcHcUbHhO62QiAfm0YHoCA&ved=0CAgQ_AUoAA

oh dear me

Emmanuel explains Cloud Hashing’s risk management plan, investments for the future, a new partner (legal), contracts sales and how he plans to deal with big investors.

http://www.iamsatoshi.com/bitcoin-mining-masses-cloud-hashing/

OK, you will get your 10GH/s (sorry, 9GH/s after CH's commission), for which you paid $1,000, and you will get 3BTC as a return in the first year.

Good job.

Thankfully governments are good for one thing, and that's honoring contracts.

You're not going to get hashes.

Im in the same boat as you. 6Gh as well.  We should compare results.

I have been replied to in this thread

https://bitcointalk.org/index.php?topic=240027.47

Good luck with that. Now they will come up with a BS excuse about delays from manufacturer, etc., and that you will be made whole in the future.

Sure. BTW, you did a very bad choice by investing in a clear scam.

Today is July 1st .  My cloud hashing contract starts today.  Details to follow. I am supposed to be paid bi weekly. My hash rate is supposed to be 6gh stating today. It is supposed to jump to 7.5gh on sept 1st. On the good side if they start count from today 6gh should make about .14 coins today.

I will post in 2 weeks as I am to be paid biweekly. So far the website does not offer much info other then the fact I have a July 1st contract.

I will give you something: Cloudhashing *might* not be a ponzi. There's only another option:

They are blatantly lying to their customers about a fairy-tale return that will never happen. They are selling hardware at x5 or x8 mark-up depending on the contract (plus 10% commision) and advertising a fairy-tale projection they know for sure that will never happen to suck in ignorant customers. The best thing it can happen to their customers? Break-even. But then, this would be just a "hit-and-run" operation (but a very profitable one, just make the calculations), because as soon as investors realize they are barely recouping their money and the advertised 500% return is utter bullshit, no new investors will be sucked in. That's why I believe that greed will take over and that they will start running this as a ponzi, but I give you that they may not: in any case, lying to your customers advertising an impossible return is a scam in my book, even if it may not be "illegal".

About your question: difficulty projections are not like weather forecasting. You can be 100% sure that the difficulty won't be 20 million in September. You can be 100% sure that difficulty will GROW during the following year, it won't be constant as the cloudshare dumbass assumed in the calculations he posted to "demonstrate" how they arrived to the 50BTC per 10GH/s estimation. And BTW, that's a huge red flag (posting that dumbass calculations), I would be extremely worried if I were you.

They have no business plan whatsoever, if you are actually mining you know you won't never ever generate 50BTC with 10GH/s deployed in September, and the fact they say that they will reach that goal by investing 30% of the monthly profits of those 10GH/s makes it even more ridiculous. It's impossible.

Mining is a complicate business. A lot of folks don't understand the variables, how high the difficulty is going to go as soon as KnC or BFL deliver, they have just seen the insane profits Avalon batch #1 customers and ASICminer shareholders and think mining is a goldmine.

Well, listen carefully: mining was never a goldmine - it's a very competitive business in which you have to fight for pennies. If there are a few folks that made huge returns in the last months, it's just because a new disrupting technology arrived to the market (ASICs), and the very few who had this technology had a very big advantage on the folks mining with GPUs or FPGAs. In September you are not going to get a 500% yearly return with hardware bought with x8 markup. In that case, sorry to tell you man, all Jupiter customers are going to be filthy rich, as each one of their units will mine 1,750BTC per year (just reinvesting 30% of the profits, LOL), and they only paid $200 per each 10GH/s. But I'm telling you: that's not going to happen.

More ASICs will arrive to the market, fewer returns there will be. You simply do not get 50BTC from 10GH/s deployed in September, this is hard math. Then, you ask if difficulty will be at 80 million in September? Well, you can be pretty sure that if KnCMiner ships, difficulty will be 80million or above. And BTW, this guys are buying from KnC.

   I have a degree in accounting and work for the IRS.  My family has a long history of forensic accounting work  my brother is a CPA my wife is a retired revenue Agent as is my mother. Ponzi schemes are not unknown to me.  While you are assaulting this company with no mercy and no proof but plenty of accusation .

  I put my name and my money on the line to test them out. While you may have 2000 plus posts and while you may be correct that they  are a bad deal you have done nothing but make up future projections of network hash rate and difficulty that no one knows are right or wrong.

 Tell me will it rain at 11 Am on sept 1st in New York City,  The answer is ?
 Tell me the hash rate will be 800 th with a difficulty of 80 million on the 1st of sept.  The answer is ?
 So calling these people a ponzi scheme correct the answer is ?
 Calling BTC a ponzi scheme the answer is ?  


 In all cases the same answer  maybe yes maybe no.

FYI: https://www.kncminer.com/

Cloudhashing is buying units from them.

Jupiter = 350GH/s = $7,000 = $20 x GH/s = $200 x 10GH/s


I think you are not getting what "ponzi scheme" means. Old investors get paid with the money of new investors so more people get sucked in because everybody is speaking about how good they pay, until the scheme collapses. I'm quite sure cloudhasing will pay at the beginning, because a ponzi scheme is so much more profitable than a "hit and run" scam. They will just use the huge markup they have per machine to keep paying investors (each 350GH/s unit costs $7,000 and they are selling it for between $52,000 and $35,000 depending on the plan you choose). They will use YOUR money to pay OTHER folks, until the NEW money runs out - then the scheme collapses and they made huge profits, while their customers are left holding the bag.

Fools and their money are soon to be parted.

 I had other things to do and stopped my charts. I did enough to show how to get a correct number in the future to anyone that bothers to use the calculator I linked to.

This is the bet you need to decide on with cloudhasher


 If a 10 percent diff  each adjustment  of 10 days occurs  this contract would be okay.


If a 20 percent diff each adjustment of 10 days occurs this contract would be mediocre



 

 As for 200 bucks for 10gh  no one sells that anywhere but I did go in on a group buy and I am getting 10gh for 360 usd .


 a link to the group buy


https://bitcointalksearch.org/topic/group-buy-1-metabank-bitfury-with-hosting-in-the-us-admin-can-remove-thread-223746  


  the sale  is over and frankly I have full exposure to a complete loss of 360usd on this purchase with just about 0 ,zip, no recourse if the theswede75 is a scammer.



 It will be very easy to see if cloudhashing is a scam by viewing this thread and seeing how they pay my contract as i said I got a july contract so come july see how they pay me. I will post the results.

Prove how investing 30% of an expected yearly revenue of no more than 7/8BTC per each 10GH/s you going to reach the 50BTC yearly return you are advertising for the 10GH/s contract.

If your proposal was serious, you would have a business plan with clear steps towards achieving that return. I'm a miner myself, and every serious miner in here knows that it's impossible to get 50BTC from 10GH/s deployed on September. Impossible. You are advertising an impossible return, therefore there is only one plausible option:

As you are selling the units at a huge markup (350GH/s cost $7,000 or less and you are selling them between $52,000 and $35,000), you will pay old investors with new investors money in order to suck more money into your scheme until it collapses. There is no legitimate business that give investors a 500% return in one year, apart from PONZI SCHEMES -> that's what you are going to run.

Anyone believing otherwise is a fool.

I think you are missing some important points here

1) We have not said difficult will not go up. It is the very fact that difficulty increases that by the revenue reinvestment program, additional hashing power is added to client account MONTHLY. This reduces the effect of difficulty in returns by a margin.

2) We have already given customer with July contracts an additional 25% increase in hashing power to compensate for difficulty. This does go some way.

3) No body knows for certainty what the difficult would be 1 year for now so throwing large numbers from thin air is easy to do. People have been going on about 100 million difficulty on June which we have failed to see.

4) BTC price is LIKELY to increase as it does more mainstream (cloudhashing is taking bitcoins mainstream). Customers could see an even higher return on that scenario. A doubling of BTC price is not impossible.

We appeal to those new to bitcoin and also those who do now want to manage hardware.

Very simple to call anything a scam without no ounce of proof something fraudulent is occurring. Borders on slander.

We are not forcing or service on anybody. If you are a techie and want to host your hardware, invest in the hardware. If you simply want a solution with reduced maintenance and hassle then Cloud Hash.

Good day