Considering the global hash rate has gone up 5x+ since launch, you really have no reason for not over-delivering. Quit acting like you’re doing people a favor by bumping up their shitty hash rates.
LoL could not have said it better
Dinkie, please don’t use foul language.
Mining is a speculative investment. By mining, you are placing a bet on (1) the future global hashrate and (2) the future price. It is our business to provide hashes, and we compensate for failed hashes. It is not our business to take speculative risk away from our customers. If you do not want to take risks, you should not be a miner.
U r trying to confuse people with technical jargon. I have 102 hash/s with Genesis-Mining.com & 100 sol/s with Zcash-Miner.com from Day 1. With each, I have mined ~0.26 Zec so far. Compared to that see where u r standing. Your cloud mining service has been a complete failure. It is better to accept the truth.
“a complete failure” ? well that depends on what side of the deal your on
toomin has a couple 100 brand new GPUs on the way paid for by YOU, how is that a failure?
so sad, i just hope people learn from this… 
Yes but Cloud Mining = Get Rich Trading Stocks
You can go to all the seminars, buys all the books, DVDs, couching, but in the end you very well know that most people NEVER actually end up making any profits.
Only the Cloud Miners companies get RICH and the people selling the “GET RICH QUICK TRADING” books.
Either way its somebodies pension or savings account thats drained for your pure profit. Zero sum game.
So if you feel comfortable at night knowing that someone is in poverty while you are out there driving your Ferrari then so be it. But karma is a bitch. All you need to do is do the right thing and increase everyones hashrates.
We did.
Auction customers are currently getting close to 6x as much hashrate as they paid for.
Web order customers (who ordered after our initial 3x) are currently getting close to 2x as much hashrate as they paid for.
However, I disagree that it’s “the right thing” to do. It’s the generous thing to do. We told our customers how many H/s they would be getting. They made their own assesment of how much they thought that hashrate would be worth. They chose their bids in the auction according to their predictions. Their predictions were wrong.
I think it’s important to consider that an obligation to provide hashes is really an obligation to provide hashes at a given time. The time dimension is clearly rather important, since many miners are seeking immediate sale of proceeds. Any proceeds generated during the initial 72 hours were worth considerably more in $-terms than those generated subsequently.
It would obviously be a reasonable assumption that your customers were expecting hashes at T-0, and the gains associated from the proceeds of these.
This should be easy enough to calculate fairly, and customers should be compensated not with additional hashes (which would be offering a speculative future gain in return for a known loss), but with hard cash or bitcoin.
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I think it’s important to consider that an obligation to provide hashes is really an obligation to provide hashes at a given time.
Thank you, blackfrancis. We certainly agree. Did you see Jonathan’s post about the python script he wrote to calculate this? He posted it 18 hours ago.
This is why cloud mining is never a good deal for the buyer. Even with multiple increases in hash rate over and above the contract terms. Toomin is running about as a generous as I have ever heard of a cloud mining outfit. But customers will never even approach a break even. A cloud mining contract is just never a good financial move. Not that there aren’t other reasons for getting one. As usual, never spend more than you can lose.
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I don’t see why this industry should be any different from others. Clearly it could work for both parties i.e. you can get access to cheaper electricity, maintenance, technical support as well as potentially lower cost pricing for cards due to bulk orders. It seems to be the current fixed hashrate structures that are prevalent are the problem as they are not in the buyer’s interest but say essentially paying someone to lease rented hardware could well be beneficial to the buyer as well as providing a nice margin for the seller.
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Yes, at a fixed lease rate. But to get any fixed pricing now you have to
own the miner.
only mine if its profitable, otherwise its siphoning the power grids. Pick your timing well Obie Ones
My numbers were wrong. It looks like my python script had a bug in how it calculated the slow-start ramp. All my numbers were 25% of what they should have been. I have edited that post with the correct numbers.
The block reward is min(0.0005 * block_height, 10), not min(0.000125 * block_height, 10).) The devs changed the slow-start duration from 5000 blocks (for the alpha releases) to 20000 blocks (for the mainnet release), and I didn’t notice.
@bicycle your numbers were correct. Mine agree with yours now.
I have 102 hash/s with Genesis-Mining.com & 100 sol/s with Zcash-Miner.com from Day 1. With each, I have mined ~0.26 Zec so far. Compared to that see where u r standing. Your cloud mining service has been a complete failure. It is better to accept the truth.
Let’s be clear—our customers have made more than you on the same 100 H/s order:
Total payouts so far for 100 H/s:
Genesis-Mining: 0.26 Zec
Zcash-Miner.com: 0.26 Zec
Toomim Bros: 0.43 Zec
Let’s talk about the truth. We are delivering more than promised. Our customers are earning more than they get with other cloud mining companies.
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But still at a very painful loss (so far). You have to include that in the “truth.”
183H/s Fury X
173H/s Fury
130H/s RX480
Claymore v5.0
I peaked at 189 on Fury X no overclock. Averaging around 180H/s. There’s absolutely no excuse now for the toomim’s not increasing their customers hash rate.
Their “state of the art” operation has been reduced to a couple sweaty bros constantly playing catch-up in a dingy warehouse.
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Btw set -i 2 Im getting only 15% CPU usage so should be good on old CPUs aswell
Our customers made their purchases for hashrate, not for GPUs. We told our customers in advance that we would not be increasing the hashrate if our technology improved or if the market conditions changed.
You aren’t even a customer. Why are you complaining?