It’s a pity but not the end of the world. Bugs happen and I am sure Tommim Bros care about reputation and want to stay in the mining business. I hope they can bring up their miner online in time to cut losses and be able to stay solvent to come up with some good proposition for their customers.
This is cloudmining. There are no refunds. Like I said, if people wanted ZCash they should have just bought ZCash because the small amount of hashrate people purchased is very ineffective against such a high difficulty.
It’s nearly always better for people who aren’t technically proficient or simply can’t own their own miners to just buy whatever it is they want to mine.
have you bought hashrate from toomim ,do you know the term he said (Refunds Nope. After the auction is complete, we will not do refunds unless we have difficulty fulfilling the hashpower contract. Bid with that in mind.),
if you bought some ,then,you are kidding with yourself
Toomim Bros Cloud Mining Hash is still 0!
What is the compensation for this situation?
@jtoomim
I beg to differ. this isn’t cloud mining, it is a scam, because Toomim hasn’t provided any computation power at all. He will have to do something drastic or his reputation will be destroyed. You don’t bounce back from a thing like this! It is an epic cluster mess (lets refrain from threats and foul language).
I setup a new pool address more than 12 hours ago as I did not want his hashes going to the same address as one which my personal miners are using successfully.
Here is a screenshot of my toomim cloud mining pool info for the 50 h/s (3 month) contract i bought:
[img]//cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/zcash/original/2X/3/32c663a01199d0018342a4d58d252c325e68e936.jpg[/img]
This is the corresponding address on flypool (no work has been done):
[img]//cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/zcash/original/2X/7/764d8a2566738c7dcfb88d902618816cda5110ed.jpg[/img]
There is still not even a single hash or work done to show that they delivered anything. We were promised hashing power from the 28th and it appears even if they manage to fix this, they won’t be able to offer that (talk about errors and having to assign hash power for 5 mins at a time instead of constantly).
This is a similar contract I bought from (50 h/s 3 months) zeropond (bear in mind it is probably not the updated balance as their site updates periodically.
[img]//cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/zcash/original/2X/a/ae458f85f2bef26f39fdb1e3abec6fc4f60adbd6.jpg[/img]
It is not a lot but at least we can see some zec and work done. Receiving payment in btc is not any form of protection from litigation in the future nor an excuse to break a promise/sale agreement…quite the contrary (just go ask paycoin and BFL). No one is arguing about ROI. But i would like what i promised from the beginning, a 50 h/s computation power directed at a pool of my choosing for a constant period of 3 months. Anything less is unacceptable.
Hell no. I own my own mining farm that isn’t that much smaller than his. The main difference, is I would never create a cloudmining company for all the reason you see here. Customer support (hate it). Legal issues (hate lawyers), etc.
BTW: I helped send mining hardware to the open source effort to create a miner anyone could use to be competitive with JToomim’s secret miner just because I foresaw a lot of people getting wrecked with the hype over silly priced “cloud mining” contracts.
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so you are just kidding ,you know nothing of term
I don’t understand what you are saying I know nothing about. I’ve been mining probably before you knew what crypto was.
This is what I sent to voxelot and omar to aid them in their efforts to incorporate a very capable GPU miner into the official zcash code.
Those white machines under the MOBO are ASICs which ran about $3000 USD each, back in the day when I bought them to mine Litecoin. Today they gather mostly dust.
I’ve got plenty of them.
Also have plenty of GPU rigs which mine Ethereum, Monero and now ZCash.
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I mean you dont know what toomim has said about refund
I remember the old avalon days and bitcoin asics. This reminds me of that. People just take money and run in this space often and I certainly hope that will not happen here.
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10 hours since last post. These guys have good nerves , good for them lol
at the Zeus miners. I beta’d their cloud farm attempt back in the day. It really is not so simple which is why I give Toomim a lot of leeway. Not that I know anything about cloud mining but when you do run physical machines for individual accounts as is this case and the case of Zeus, all the software in the world won’t solve the problem of setting each one up individually, or rebooting or anything really. I suspect most big clouds are software driven with a farm behind that. That is x physical miner capacity with software driving the hashrates and payouts. In Zeus’ case he had guy’s running around to each machine to input your pool address and optimize it. In Toomin’s case I suspect he thought he had some sort of network software in place to run all those physical miners which is where it failed. The big guys have got that down to pat over time. That’s why you can’t spring up into the cloud mining business overnight no matter how many miners you have.
Anyway small glimmer of hope about 4 hours from 24 hours of zero hash rate, and I see an attempt to mine on the new pool I inputted about 5 hours ago. All of 0.6 H yielding nothing, now dead. So they are trying to do something at least.
For the half the amount I paid for the contract I can go out today and buy components and build a rig that will mine the same hash rate they were supposed to provide. I should have been more interested in this earlier and monitored the situation but only in the last 48 hours was a decent piece of mining software offered. I may still do that, since there still seems to be some opportunity left in all of this. Still ticked my stock desktop runs as well as it does with that mining software.
I think Toomim will do us all right. How I don’t know. Pretty clear their custom software simply doesn’t work. All they need do is download one of these open source ones and run that even if it requires 3 machines to equal the paid for hashing contract vs. the one or even half they thought they had conquered with their private optimized code. That or refund to those that want it. Since they said they already had all the hardware and the funds were not for purchasing machines, well where is all those BTC then.
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There is nothing you guys can do.
They probably called their lawyer “Hey, can we get sued if we mine for ourselves for a few hours to become millionaires and then later on say it was a tech difficulty”.?
Lawyer says “Did they pay by BTC? If so you are free in the clear”.
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So… were we scammed?
I don’t think so.
Bitcoin has got nothing to do with what one can do. It is not like they can pretend that they never received it and disappear. Confirmation of payment in everyone’s account, states quite clearly what it is in consideration of including a link to the tx. on the chain. They’re not going anywhere, they have a long time sizeable hosting service that they’re not going to vanish on because of a handful of dollars.
people asking for refunds:
would you like those refunds in hardware or IOU’s ??
I think at this point, a refund is the only viable option here as well.
yes - the contracts run over an extended period of time, but if your business is build on trust… do the right thing guys. Thousands of dollars were lost now that the gold rush is starting to over satisfy the market…
What a disgrace… sorry for those who invested a lot.
Technical issues can occur, and I hope @jtoomim will address the problems on his farm. I wish him good luck.
Curious about his response to that crisis though, given his “brutal honesty”. I guess he can only admit the contract is broken and give refunds to whomever ask for. (unless there is a real bank run, which I doubt given the very nice start of the currency and the slow start)
I for my part would like a refund.
yes,It’s really a strange world of coin