That's the case if you paid by wire transfer and look only $ value. But if you used your Bitcoin, you have lost atleast half of your coins depending on when you bought your contracts. Basically you gave your bitcoins away for half a price.That, only, and only if difficulty hadn't rendered it unprofitable.
I don't think it's a good idea to hold to the contracts, at least not the 100 th I have now. Difficulty is increasing at a higher rate these days and who know it contracts will still be profitable after that and for how long. I think I can get more with a refund right now than waiting for hashrate to come back online and waiting for profit in the long term. All the profit I made was like free money after all because I get my money back and get to keep my profit.
Man that sucks. To be honest, If I were you with that kind of losses, I would hire a lawyer and sue them.100 days @ 1,652.56 USD = 170'156USD and the coin prise go up many more that is more than impossible
Our China datacenter went offline on 10th January. Charts do not go back that far.I looked into the pool hashrate statistics strangely, there's nothing missing on hashrate!
But our memory will. I for one, do not remember a single block mined by Chinese servers. And I'm quite sure that no one else here does either. Your intentions are so obvious and transparent that it's actually funny to imagine how stupid you think your customers are.Our China datacenter went offline on 10th January. Charts do not go back that far.
It was said by Roger Ver on may 18th. So, what the fuck with your China reason ?!We've partnered with the largest mining farm in North America. My understanding of the benefit to them is that they can get a guaranteed amount for their hash rate right now that allows them to buy more hash rate right away, rather than having to wait a whole month.
Ok, prove it now !I'm at the mercy of the miner that we have partnered with, but they are the biggest in all of North America and they have my complete trust.
If something were to go wrong, depending on the exact circumstances, I may make good on everything out of my own pocket.
I'm wondering why this topic didn't pop up on r/btc yet. I'll guess they just gonna say that cloud mining contracts were no good Idea inAnyone planning on taking this to r/btc/? We definitely can't let this go unnoticed. Bitcoin.com has basically screwed over every contract holder. Their "solution" is laughable at best.
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Pause your contract from January 18th until approximately April 30th
ViaBTC surprised their customers a week ago similarly by increasing fees to 50% and giving buy-back option similar to this. That's where these guys propably got their idea how to get rid of us.許せんぞ。
Note "approximately"... ie there is not even any attempt to guarantee that this date will be met to begin with.Code: Select all
Pause your contract from January 18th until approximately April 30th
Can any one provide more context to this move in terms of other cloud mining pools? Which other pools has a similar things happened to? Were they BCH-aligned pools? Is this related to liquidity issues at Saint Bitts due to the failed attempts at BCH flippenings last year?
But their proposal, already considered as a scam, gives 2.2 more BCH per share than the one of Bitcoin.com as they pay a fixed amount per share of 300$…ViaBTC surprised their customers a week ago similarly by increasing fees to 50% and giving buy-back option similar to this. That's where these guys propably got their idea how to get rid of us.
Should it come to it--an application to the HKIAC on the basis of liability due to wilful misconduct or gross negligence. There is no way that the "force majeur" (misspelt) clause covers this scenario.7.0 Limitation of Liability
Without detriment to the Service Providers (St Bitts’) obligation to render the Services on a commercially reasonable basis only, any liability of the Service Provider hereunder and or in connection with this Agreement shall be limited to willful misconduct and gross negligence. Further, the Service Provider shall not be liable for any damages incurred by the Customer as a result of force majeur which shall include any disruption or breakdown of the Bitcoin market. We make no guarantees, warranties or representations whatsoever as to (a) the future value of any Bitcoins produced; nor (b) the rate at which Bitcoins will be produced in the future applying particular hash rates, pursuant to any Bitcoin Cloud Mining Contract purchased by you.
Governing Law, Language and Miscellaneous
8.1 These Terms of Service have been made in and shall be construed and enforced in accordance with Hong Kong law. Any dispute or difference arising out of or in connection with this contract shall be referred to and determined by arbitration under the Electronic Transaction Arbitration Rules of the Hong Kong International Arbitration Centre. Hong Kong shall be the seat of arbitration and any such dispute shall be resolved at the Hong Kong International Arbitration Center by a single arbitrator.
So the best solution at this time is:I'm at the mercy of the miner that we have partnered with, but they are the biggest in all of North America and they have my complete trust.
If something were to go wrong, depending on the exact circumstances, I may make good on everything out of my own pocket.
Yes (if by "disappointing" you mean "unconscionable").What is dissapointing to me is that the hashrate is guaranteed 100% uptime.
"Most" means "except every single lifetime contract"?Most of our hashrate is in the USA.If China plans to shutdown mining, is there any canary to warn users of such an event to move coin.
Will lifetime contracts migrate to your US mining rigs? What is your contingency plan for a china mining ban?
We are already planning to move all our China hashrate to other countries.
Our China datacenter went offline on 10th January. Charts do not go back that far.I looked into the pool hashrate statistics strangely, there's nothing missing on hashrate!
The China hashrate you see on those pages comes from hardware miners on our pool, not from our own mining equipment.
We are very sorry for the inconvenience caused.
"Most" means "except every single lifetime contract"?Most of our hashrate is in the USA.If China plans to shutdown mining, is there any canary to warn users of such an event to move coin.
Will lifetime contracts migrate to your US mining rigs? What is your contingency plan for a china mining ban?
We are already planning to move all our China hashrate to other countries.
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