Is Zeropond cloud mining a scam or trustworthy?

http://cloud.zeropond.com/

Has anyone gotten any verifiable references, credentials etc about Zeropond and their team? (other than their linked in profiles?)

Do you think it`s better to invest through zeropond or through an exchange once it goes life for trading?

Looking forward to your replies!

2 Likes

We will only know in hindsight

1 Like

Thank you Dilla, thats very helpful! I didnt quite understand why Zeropond advertises their different options based on how many CPUs they have (e.g. 50, 250, or 1,000 CPUs), when in the Q&A at the bottom of their page they say they do GPU mining. Quote from their website: "We have a GPU miner which is much more efficient than even an optimized CPU miner."

I`m not an expert, what am I getting wrong?

People can only compare performance vs CPUs (Zcash default CPU miner).

Stating a random number of GPU/GPUs would be irrelevant.

Basically their GPU miner is roughly x10 faster than a mid-high range 2 core CPU

The Zeropond guys have been very cooperative working with the community to establish trust, just have a read down their cloud thread: https://forum.zcashcommunity.com/t/zcash-cloud-mining/1723/1

On a long enough time scale there will be plenty of ZEC produced so I believe it will be very simple for you to buy some. But ultimately it is up to you to weight the risks/rewards of the different methods to acquire Zcash. Zcash and crypto-currency in general is a risk, there are no guarantees that any of it will survive long term.

5 Likes

I think the business they offer is legit and they will deliver what they promise.

However, they sell CPU cloud mining right from the beginning and call this genesis mining. Contracts are running at least 3 months. In my eyes that's a trap. On their tumblr blog they show pictures and performance evaluations of their private GPU miners.

If you ask me, they will use profits from zeropond to fund their private GPU farms. Which is totally legit as they can do whatever they want with that money.

But in my eyes, on a totally personal note, I'm sceptical why they sell CPU hashing power but run private GPU farms. If they have the technology and the hardware and the knowlefdge and the working miner implementation - why not selling GPU cloud mining? Because they want the private advantage!

I'm sorry if this post is very opinionated, but I confronted Tim of Zeropond on reddit with the GPU topic and all I got was silence.

TL;DR zeropond looks legit, but do you really want to pay for CPU mining?

Edit: One more thing, in some reddit post they say, they will be able to deliver 100 H/s in total hashrate in October. 100 H/s in total. Now, if you go to their homepage they offer single packages with 100 H/s. And you can even request more. I am wondering how they suddenly are able to supply multiple kilo H/s. Just another side note.

I also think that mining is a gamble since there are plenty of botnets available on the darknet and I can imagine that it is cheaper to mine zcash with them rather than with a "legal" mining operation (I'm just guessing, correct me if I'm wrong). Furthermore, stolen credit cards could be monetized via zcash cloud mining and dump. All together this could create a situation where zcash is sold below the price of zeropond mining operation and therefore I'm still on the fence whether to buy zcash on exchanges or commit to a three month cloud mining contract.

I think there is a misunderstanding. @tim_olson and @5a1t must confirm, its their business, but I think the CPU on their pricing page is only mentioned for reference purpose. ie "i'm buying X standard-CPU-equivalent Hashpower for Y price". (Because the Hashrate is a bit confusing at the moment).

The mining contracts they sell will run on a GPU farm, with the demoed GPU miner.

1 Like

You are correct that we are running GPU miners. But we're running them for everyone who purchases a contract. The CPUs you see are to give people an idea of what their hashrate is equivalent to. Most people do not have a solid idea of what 5 h/s would mean - is that low or high? Even the current best benchmarking tool give seconds to find a solution, which is connected to hashrate in a non-obvious way.

As for the post that Tim made, at the time we were about to sign a contract for a sublet of a warehouse with limited power. When we saw demand we decided to bail on that and work with a datacenter that could provide all we needed.

Thanks for the clarification. 0.1 H/s is quite high for a single CPU unit. The benchmarking wiki suggests there are hardly CPUs available with more than 0.07H/s. Maybe put a small note under the packages that you are acutally selling GPU power.

m4large ~0.045h/s per core ( 2 cores so around 0.08h/s) - Intel Xeon® E5-2676 v3 (Haswell)
c4.large ~0.053h/s per core ( 2 cores so around 0.1h/s) - Intel Xeon E5-2666 v3 (Haswell)

1 Like

@5chdn The results on the wiki are single thread results, but they don't scale linearly to 4 cores. See the Cloud Mining thread for a big discussion about it and some test results.

Hi sorry I'm just getting to this thread, and I haven't been on Reddit for a long time. We are crushingly busy at the moment.

re CPU's: We wanted there to be a way for people to understand the amount of hashrate easily. If you are coming from another coin and 1 H/s costs 0.2 BTC monthly it's very confusing. Same is true for selling GPU units. Since there is no public GPU miner, how much is a GPU?

I'll jump on Reddit real quick now...

1 Like

I got a chance to work with Zcash team as their accountant and I got a chance to examine all their invoices/bills, everything is legitimate. I am an advanced certified QuickBooks ProAdvisor as well as in Bitcoin with DCC. I am excited in investing in Zeropond besides working with their teams.

Here is my personal due diligence I did before I invested in Zeropond:



The customers who bought zeropond contract suffered lots of loss, really a lot.

1 Like