Which I guess we(who bought the contracts) should have figured out ourself. However, as a relative beginner to all this when I bought the contract. Their advertisement was extremely misleading.
Edit: And coincidentally that was their target group as well, the bitcoin beginners.
I'm not sure that they deliberately targeted beginners, but it was always a high risk investment only suitable for people that new what they were getting into. It was based on speculative preorders, and if they had arrived on time then it could just have made a profit, although a 10% made even that unlikely.
What really is a scam is the way they treat their customers now. A number have gained refunds through Google Wallet, but Clownhashing just ignores the rest. Mainly because many are in far away countries and are unlikely to take them to court. CH failed to deliver and is in breach of its contracts so they are legally bound to give refunds or FULL reparation.
They then try to pull the wool over their customers eyes by claiming that adding 20-25% hashing now will make it up, not charging their 10% while their was nothing to take 10% from, and a 50% off more garbage priced at over double the market rate "for a limited time offer" is somehow reparation. It is just plain insulting their customers intelligence.
Then Arock shows up on the scam thread writing just like Emmanual and then KingslandRoad signs up to post that he is "doing very well". Yes I'm sure you are Clownhashing.