This is a withdrawn posting.
Based on the 500 H / s contract it sounds fair and good at the moment for me, because I have high power costs. However, I have a question here: What happens when the Miningsoftware rises again, so that 500 H / s are completely too little. Do contracts increase in H / s performance or do they drop in price?
Examples have brought the last month enough, for example: the improvement of the mining software from under 40 h / s to 300 h / s with the same hardware.
Its still way overpriced.
The 1KH/s contract for 1 year is exactly double of what Nicehash charges today. And since more and more GPUs are coming online everyday Nicehash will become cheaper and cheaper.
Cloud mining basically makes absolutely no sense these days.
This seems like the same company as CPUMining that came out last month. Basically almost got banned on this forum and Bitcointalk from spamming and shill postings.
My guess is that they don't actually own any GPUs since there are no photos on the website they most likely are looking for some sucker and will simply forward the hashes over from Nicehash or some other miner rental service.
My advice, RUN away from this company.
Post a few photos with your username showing your GPU farm
Yeh let's see some photos of your farm that customers are expected to invest there money in!! And evidence that it's your farm, you can understand that people here are sceptical of mining operations advertising here since most investors have been treated badly and lost there investment by paying for over priced contracts
Jesus, you dont need to take any professional photos. Go to your farm, take a few photos with your iPhone and post here.
Just because you have proper english and grammer doesn't mean people will trust you.
So it's clear then you have no GPU mining farm but just fishing for money to build one, you could have taken a couple of quick snaps to validate your business after all you are expecting us to give you money up front but unwilling to show us what we are paying for, that's just crazy and dishonest!!!
We are interacting with you,we asked for photos of your setup before investing so we can see what we are buying, you can understand why we are been careful and if you had told us when we first asked you we're on holiday and photos would be sent when your home that would have been cool, I don't understand why disclosing your having a holiday is posting personal information on a thread where your asking customers to sending you money
Now it just sounds somewhat y
hi guys which you a great and happy year , please do not forget what hashocean has done to more than 700 000 people
some i know personnaly has lost more than 100 000 usd , i lost more than 5000 usd and i invested in my personnal mining rigs , beleive me no one can give such huge profits even is power cost is 0 , so better for all of you to invest in your own mining
have a great day
Hello GPU Mining;
I would like to suggest you advise potential customers to do some due diligence on their investment. a fellow Canadian has created a calculator for them to do so.
They can enter the hash rate & contract duration and determine thier return on investment.
ZCash will be wayyy to volatile over the next year to produce any kind of reliable income stream.. yoou want to be able to change to coins that are actually profitable to mine.. buying a ZCash mining contract means your stuck mining ZCash even when its not profitable...
secondly, if you go cloud hosting/mining you dont get to sell off your equipment to recoup on your investment - they do... build your own so you are in control, or put your own rig on sever shelf space where electricity is cheap so you can control what the rig is mining.
ZCash cloud mining, so far, has failed miserably, proof of that is found in the toomin bros and genesis mining threads
i hope all the success for you but i hope you are the most honest in the world
i have been personnally deeply deceived by the cloud mining this is why i built my own mining farm short time ago
all the best
more true in your case since you live in canada and china has exported its housing bubble scam to your country... its so bad that here in china, agencies that get people visas are advertising your houses and apartments for sale... sickening if you ask me... look, forward to an incrase in the amount of real estate tax you pay each year...
soon the rest of canada will be like vancouver where canadians cant even afford to stay in the houses they have owned for decades LOL... shows how much your gov actually cares about you... they just care about money
the more the bubble builds,.. the bigger the burst and fall... considering the debt to earnings ratio in canada is higher than it was for americans in the 2008 housing market crash in the USA... id say ... not looking good for you...
you should offer co-location, and "buy a rig and we will host it" service, where you actually build people their own rig, host it, and offer to ship it back to them at anytime, giving them access to it to swtich coins as they desire
that would make for a kick ass cloud mining service
well goodluck, hopefully you can turn a profit
your going ot need it to pay your housing tax with prices increasing 20%+ per year in major cities.
you do seem very nice and honest.
you can probably make the best cloud mining service if you put your heart into it
though if you can offer coin switching that would also be a good step forward.. even if its like a monthly or weekly thing, where people can change the coin they want to mine in their account and you switch them account over to the mining rig mining that coin, like monero or ... monero LOL
Are you saying that I could sell houses in Canada to Chinese customers?
Can they pay in Zcash?
We have no foreign buyer tax in my province either.
The problem with your concept is that you are selling a long term hash contract at todays spot reward.
Sure, 1 H/s might make 2$ in 1 year, but only if you assume todays profitability level will stay constant. While the formula I linked may be slightly negative, your forecast contains NO allowance for an increase in difficulty, which is utterly ridiculous.
In addition, you are correlating the future rewards from mining to the future price of the coin. Guess what, the difficulty adjusts itself downward as the coin increases in value. Miners do not receive a proportional increase in reward for any coin value increase. (or vice versa).
Further, if your client profits from price increases from holding zcash they received from their contract, that is not you providing them a ROI, that is them speculating. You cannot claim that as a benefit of your service.
Knowing these facts as you now do, it can be seen that the premise of your offering is flawed, to the point of fraudulence.
What do you expect. Why are you even accepting Credit Cards since they are easily reversable.
No cloud mining companies ever accept Credit Cards for this reason.
Are you guys completely brand new to Bitcoin?
It's nice to see a company using credit cards for payment, it gives extra protection to users and a lot more convenient to people who are just starting out and don't have bitcoin, we can't not use credit card just because of scammers
What percentage of your cloud mining purchaces were paid by Paypal, and credit cards?
I have a feeling that most of those will end up doing chargebacks sometime in the near future. Accepting credit cards which is reversable without proving identity (KYC) is very risky and highly idiotic since Bitcoin carries one of the highest levels of fraud.
Your cloud mining is very overpriced so there is a very high chance that most of those that purchased your services are only doing so because they are free to chargeback next month.
Nicehash currently charges less than that and with time it will get cheaper and cheaper as more GPUs come online.
I would LOVE to get someone to buy my 1 H/S for $2 for 2 years. I would be a VERY RICH man and would open up a warehouse of GPUs. But legally nobody would pay me that much.