disappointed_contract_holder
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sat Jan 20, 2018 3:29 pm

As per the terms and conditions that you agreed to when buying the contract (https://poolsupport.bitcoin.com/article ... conditions): "the Service Provider shall not be liable for any damages incurred by the Customer as a result of force majeure".
Most of our hash rate is in the USA but the Chinese government banning Bitcoin mining clearly is an example of force majeure. Lifetime contracts were allocated to China.

Our mining contracts were priced in USD, and we have offered you a 100% refund priced in USD. That means all of the income you received until now was completely free for you.
Alternatively you can wait for us to relocate our miners from China, and your contract will resume as soon as the move has been completed.

When you paid for your contract in BTC, we immediately use your BTC to purchase new mining hardware. That is why our contracts are priced in USD.

There are two parts of our pool, hardware mining and cloud mining. The recent increased hashrate on our pool comes from hardware mining users on our pool. We do not own that hashrate.

Please send an email to pool@bitcoin.com if you have any further questions.
When the contracts were sold people raised questions about the location because of regulations. We were told that the majority of the hashpower had already been moved to the US so what you are saying means either Bitcoin.com lied before (and making the force majeure claim invalid) or you are lying now.

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sat Jan 20, 2018 3:55 pm

I am trying to withdraw the BCH refund but it is being "rejected"?

[img]
Screen Shot 2018-01-20 at 9.47.35 AM.png
[/img]

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sat Jan 20, 2018 7:11 pm

As per the terms and conditions that you agreed to when buying the contract (https://poolsupport.bitcoin.com/article ... conditions): "the Service Provider shall not be liable for any damages incurred by the Customer as a result of force majeure".
Most of our hash rate is in the USA but the Chinese government banning Bitcoin mining clearly is an example of force majeure. Lifetime contracts were allocated to China.

Our mining contracts were priced in USD, and we have offered you a 100% refund priced in USD. That means all of the income you received until now was completely free for you.
Alternatively you can wait for us to relocate our miners from China, and your contract will resume as soon as the move has been completed.

When you paid for your contract in BTC, we immediately use your BTC to purchase new mining hardware. That is why our contracts are priced in USD.

There are two parts of our pool, hardware mining and cloud mining. The recent increased hashrate on our pool comes from hardware mining users on our pool. We do not own that hashrate.

Please send an email to pool@bitcoin.com if you have any further questions.
you know that we win so you try that we sell all our contracts back to XD

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sat Jan 20, 2018 7:15 pm

I am trying to withdraw the BCH refund but it is being "rejected"?

Image
but now we see refound ist not working XD

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Fubukiryuu
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sat Jan 20, 2018 10:27 pm

Most of our hash rate is in the USA but the Chinese government banning Bitcoin mining clearly is an example of force majeure. Lifetime contracts were allocated to China.
It was - and still is - clearly stated that the datacenter is located in North America. That is an essential part of the contract and you obviously lied on it, hosting the hardware in China. That's exactly like the region choice for many cloud hosting providers that let you choose the country and make pricing according to it. Your service specifications are crystal clear : 1TH/s per share guaranteed, hosted in North America with 100% uptime guaranteed.
Our mining contracts were priced in USD, and we have offered you a 100% refund priced in USD. That means all of the income you received until now was completely free for you.
You are still lying. Your contracts are labelled in USD but priced in BTC with a quite constant BTC value whereas the USD price was adjusted after each price increase of BTC.
When you paid for your contract in BTC, we immediately use your BTC to purchase new mining hardware. That is why our contracts are priced in USD.
It was ever said to be your «partner» hardware, one of the biggest North American company specialized in running mining farm in a North American datacenter. Never, at any time, Bitcoin.com was supposed to run its own hardware.
Last edited by Fubukiryuu on Sat Jan 20, 2018 10:59 pm, edited 4 times in total.

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sat Jan 20, 2018 10:44 pm

Emergency! Emergency! Requesting 2 million diapers. Unprecedented load of crybabies are massing at the gate!

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sun Jan 21, 2018 9:11 am

Screenshot from 2018-01-21 16-08-57.png

lol i thought bitcoin.com paused hashrate, i noticed that their pool hashrate getting bigger than before pause. What this mean? Clarify on this...

fiatoshi
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sun Jan 21, 2018 9:44 am

Read the latest posts before posting, Bangteh. It's just non-cloud hashrate, ie prima facie unrelated to the Lifetime Contract debacle. (Presumably the dramatic increase is because BTC is more profitable at the moment and the pool's fee structure for BTC is less punitive recently due to KableK's advocacy, but I don't know.)


BitKilo, unfortunately I don't think any arbitral tribunal would deign to accept the lame force majeure cop-out in this situation--so I encourage the company's General Counsel to draft a more specific one in the future.
Perhaps at the same time the company could remove the embarrassing "100% Guaranteed Uptime!" (in bold) from the pool website front page.

In any case, it's exactly as Fubukiryuu says:
It was - and still is - clearly stated that the datacenter is located in North America. That is an essential part of the contract and you obviously lied on it, hosting the hardware in China. That's exactly like the region choice for many cloud hosting providers that let you choose the country and make pricing according to it. Your service specifications are crystal clear : 1TH/s per share guaranteed, hosted in North America with 100% uptime guaranteed.
We took certain risks when purchasing a LIfetime Contract (which of course is hardly "lifetime" and only has a certain lifespan anyway), relating to crypto and fiat prices, difficulty, halving, etc. This Chinese regulatory risk (particularly in the context of the explanatory materials available at time of purchase) was the seller's risk, and unless Saint BItts or its pool division is en route to bankruptcy in the medium term, I for one will certainly be making a claim, even if it can't be repaid until Saint Bitt's financial situation allows for it (as I'm happy to support the BCH project and not bankrupt this enterprise).

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sun Jan 21, 2018 4:33 pm

Hi Roger,

When will be the exact date for cloud mining lifetime contract will be business as usual?
I invested quite a half of my wealth in your cloud mining , and paused for three months time will greatly affects my families well being..

predig
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Sun Jan 21, 2018 11:27 pm

This is quite a disheartening turn of events, Bitcoin.com gave the impression of integrity and transparency on their site and were trusted by many, now they are little different from the bankers and governments they are so quick to malign.

Do I continue to trust them that they will make good in three months time or do I cash out now while I am apparently given the chance?
Is this just as small dark spot in their otherwise faithful activity, or is this a true outward expression of deeper flaws?
Do they have integrity, or are they just like most others these days?

As they have yet given a true and credible response to those of us losing so much money each day, and as they have not even warned us of the looming problem to begin with to enable at least an emotional preparation, but rather just dropped all Lifetime contracts like a rock hoping it will still swim, evidence would seem to justify the later part of each statement above.

Truly a sad state of affairs, truly disheartening.

Predig

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ScrappyDo
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 8:52 am

Why has no one asked the main question at hand? If all you truly own these lifetime contracts, and they are going to pause now till April..... Why no drop in hash on either pool?

If said machines are coming offline... Let's see it. Unless, you are saying you sold contracts on another pool. If that's the case, this wormhole deeper than I thought.

I do not own any contract from bitcoin.com, yet it doesn't take a friggin genius to figure this out.

Scrap'

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ScrappyDo
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 9:09 am

BTW, yall ever figure out why coinbase doesnt work with your pool? I have damn near 1 BCH out there in limbo....

Scrap'

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Fubukiryuu
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 9:12 am

Why has no one asked the main question at hand? If all you truly own these lifetime contracts, and they are going to pause now till April..... Why no drop in hash on either pool?

If said machines are coming offline... Let's see it. Unless, you are saying you sold contracts on another pool. If that's the case, this wormhole deeper than I thought.
If only we could… Be sure everybody would have left Bitcoin.com pool for a long time ;) The contracts are binded to this pool, we can't even change anything and have no proof there is real hardware behind. We only receive a share everyday corresponding to the hashrate and fees are deducted afterwards. It can totally be a Ponzi, we would never know. And thinking about a Ponzi, if the hardware is as real as the North American (of China) location, it's a great promise for the future.

By the way, any team member remains here or you all have left the boat ? 

Very promising for the future and the April 30th deadline.

If you keep it as for your last «lifetime contracts» refill estimations, I think we'll never see anything again…


BTW, if my fellows scammed friends want to know how bad it is, here are some numbers I'm «happy» to share with you :D

Image

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ScrappyDo
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 11:33 am

So it's the new paycoin. Got it. Or wait.. I already had it as I never bought a damn thing, but the pool is messed up too and wont pay out to coinbase. Hmmmm, seeings as though thats the largest exchange in the world, don't you think you could fix that?

When did these guys buy the bitcoin.com domain? No one questioned that? LOL

seatramp
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 11:47 am

... ... ...

For me it's easy : they offer me 8% of the coins I paid for the contract and, so far, I received by mining only 55-60% of what I invested. And they break the contract after only 8 months, while it's still very profitable.
Exactly my point! They cut our contracts at their prime without even bothering to notify us before hand. How very altruistic of you, Roger!

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 1:25 pm

now i just click refund, and willing to invest my coin in genesis-mining,

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 1:38 pm

im leaving bitcoin.com forum and pool...so frust with this company...thanks again..i will keep supporting viabtc and genesis-mining!!!

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 3:32 pm

Hi Roger,

When will be the exact date for cloud mining lifetime contract will be business as usual?
I invested quite a half of my wealth in your cloud mining , and paused for three months time will greatly affects my families well being..
promoting this post
+1

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 3:57 pm

I wanted to chime in and apologize to anyone who is unhappy with the recent events in China and to anyone who wasn't aware that some of our hash rate was also hosted in China in addition to the USA and other countries around the word.

Unfortunately the situation in China is beyond our control, but we are scrambling to get our hash rate back online as fast as possible.
When we were first notified of the situation from our hosting provider, we were also given almost no notice.
After discussing things internally we decided that the best option was to provide a 100% full refund to anyone who wanted one during the period our hash rate is offline. I understand that many of you are interested in earning bitcoin on bitcoin returns, so the situation is less than ideal, but it was the best we could come up with.

For now, we will continue to work to get our hash rate back online as quickly as possible.
Help spread Bitcoin by linking to everything mentioned here:
topic7039.html

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 22, 2018 10:16 pm

im leaving bitcoin.com forum and pool...so frust with this company...thanks again..i will keep supporting viabtc and genesis-mining!!!
Well, I wish you to learn all these lessons with Viabtc and Bitcoin.com prior genesis :)

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Tue Jan 23, 2018 9:41 am

And auto-withdrawals are not working any longer. Bitcoin.com - are you ok??? Where the hell is my money???????????

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Tue Jan 23, 2018 11:14 am

I wanted to chime in and apologize to anyone who is unhappy with the recent events in China and to anyone who wasn't aware that some of our hash rate was also hosted in China in addition to the USA and other countries around the word.

Unfortunately the situation in China is beyond our control, but we are scrambling to get our hash rate back online as fast as possible.
When we were first notified of the situation from our hosting provider, we were also given almost no notice.
After discussing things internally we decided that the best option was to provide a 100% full refund to anyone who wanted one during the period our hash rate is offline. I understand that many of you are interested in earning bitcoin on bitcoin returns, so the situation is less than ideal, but it was the best we could come up with.

For now, we will continue to work to get our hash rate back online as quickly as possible.
Thanks for this Roger.
Wish i read this text some time BEFORE you paused the LT contracts

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Tue Jan 23, 2018 4:02 pm

im leaving bitcoin.com forum and pool...so frust with this company...thanks again..i will keep supporting viabtc and genesis-mining!!!
ViaBTC is charging a 50% maintenance fee right now, good luck with that. And Genesis skims your profits a lot.

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Tue Jan 23, 2018 5:01 pm

And auto-withdrawals are not working any longer. Bitcoin.com - are you ok??? Where the hell is my money???????????
Sorry,

Someone withdrew 500 BCH from the hot wallet overnight, and that wiped out the amount in our hot wallet used for the auto payouts.
We've just topped it back up and the payments are going out shortly.

Sorry for the delay!
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Wed Jan 24, 2018 8:05 am

even at the moment they(viabtc) charge 50% maintenance fee for speed up move out their all asic miner outside china, they still pay out half 50% :-) while pool.bitcoin just let us refund which is no choice unless we refund :-). Before this, viabtc also able to refund, i choose not to refund because we still can get another 50% profit while pool.bitcoin 0% until 30 april...So tell me who cheat more? hahaha so tell me who more legit :-)

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Wed Jan 24, 2018 8:33 am

I wanted to chime in and apologize to anyone who is unhappy with the recent events in China and to anyone who wasn't aware that some of our hash rate was also hosted in China in addition to the USA and other countries around the word.

Unfortunately the situation in China is beyond our control, but we are scrambling to get our hash rate back online as fast as possible.
When we were first notified of the situation from our hosting provider, we were also given almost no notice.
After discussing things internally we decided that the best option was to provide a 100% full refund to anyone who wanted one during the period our hash rate is offline. I understand that many of you are interested in earning bitcoin on bitcoin returns, so the situation is less than ideal, but it was the best we could come up with.

For now, we will continue to work to get our hash rate back online as quickly as possible.
It's an unfortunate set of circumstances and I don't believe for a minute that you and your team are out to get us. I however would have appreciated a more detailed update to this situation sooner rather than now. All that said, thank you for the update and please keep us posted. Thanks for the hard work.

seatramp
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Wed Jan 24, 2018 8:36 am

And auto-withdrawals are not working any longer. Bitcoin.com - are you ok??? Where the hell is my money???????????
Sorry,

Someone withdrew 500 BCH from the hot wallet overnight, and that wiped out the amount in our hot wallet used for the auto payouts.
We've just topped it back up and the payments are going out shortly.

Sorry for the delay!
fixed now, thanks! And sorry for the emotional posts - we're only humans after all. I still believe in bitcoin.com . Mad, yes, but still with u :)

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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 29, 2018 1:15 pm

Have a question, how does it come that the daily rewards from BCH and BTC are decreasing every day and are lower then the calculator of Bitcoin predict the last few weeks??

And will they go up again in the near future or will they go to zero ??

With this rate even the year contracts will lose money instaed that they get even or make a profit, can anyone explain this to me?

maybach111
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Mon Jan 29, 2018 6:49 pm

Have a question, how does it come that the daily rewards from BCH and BTC are decreasing every day and are lower then the calculator of Bitcoin predict the last few weeks??

And will they go up again in the near future or will they go to zero ??

With this rate even the year contracts will lose money instaed that they get even or make a profit, can anyone explain this to me?
The difficulty rises and daily income decreases. The only hope is for exchange rate rise, when BTC (which is real bitcoin) will go to 50 000 USD - you will feel better. Don't sell at the moment, accumulate your crypto.

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Fubukiryuu
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Re: Bitcoin.com Mining Pool Official Discussion Thread

Wed Jan 31, 2018 12:02 pm

And BTC mining fees reward discretely reduced to 5%… :)

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