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Showing 20 of 58 results by BitChrisUK
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Board Service Announcements
Re: [ANN] Bit-Mining.Co -BTC & LTC Mining Services.
by
BitChrisUK
on 12/05/2014, 18:18:45 UTC
Does anyone live near this thief?
Post
Topic
Board Service Announcements
Re: [ANN] Bit-Mining.Co -BTC & LTC Mining Services.
by
BitChrisUK
on 10/04/2014, 18:42:07 UTC
Is trading not working?

FYI, i got fleeced for about 0.15BTC from these guys a while ago
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Topic
Board Services
Re: PB Mining -- 5 year mining contracts!
by
BitChrisUK
on 30/03/2014, 18:04:48 UTC
Well we can always start selling 1 year contracts if we continue getting complaints that the 5 year contracts are such blasphemy, but for some reason most people don't seem to mind it so far. Cheesy  It's not like we're trying to sell it for a ridiculous price based on the longer contract term.

Charge the same price as for a 5 year contract!

I too am fed up with complaints about getting greater value than usual
Post
Topic
Board Project Development
Re: FAIRLAY - PREDICTION MARKET just launched - we reward test user with 600mBTC
by
BitChrisUK
on 20/03/2014, 19:10:18 UTC
Need more bets Smiley
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Topic
Board Services
Re: PB Mining -- 5 year mining contracts!
by
BitChrisUK
on 17/03/2014, 19:33:51 UTC
When you think about 'reinvesting' with bitcoin mining you should calculate carefully that the yield after reinvesting will actually be more than the yield you were getting initially.
Because of the difficulty changes.
Just to be absolutely sure your principal stake is not actually slowly shrinking.
This gets confusing, at least for me.
Just pointing something out to you. Might be important.

Oh, hey, i make big mathematical errors sometimes, so try to double check anything i say before you act on any of it.


My understanding is that the date at which you invest is irrelevant, as the price drops in proportion to the increase in difficulty.

E.g. - 20% increase in difficulty, 20% decrease in price.

Due to this direct proportionality, i'm not certain that your ROI(%) should ever change? Except with a change in block payout?

I believe you missed the concept.
placing all of your return into the purchase of additional shares might not increase your return to its original amount.
Because difficulty usually increases.


"20% increase in difficulty, 20% decrease in price."
True but did you forget something?
Your holdings at that time are not automatically increased by 20%!
That would be nice, same payout/return forever. Unfortunately not. Grin

I hope i can get the point across, i would hate to see anybody miss it.
i ran the math actually, but not very carefully. so im not sure which way it goes.
repeated iterations of simple formulae became tedious, so ive dug up an emulator for a good programmable scientific calculator.
[ti-86 the best i know] my second and last ti-86 became inoperable, and so of course i got rid of it,... along with the instruction manual lol Grin
its been a few years so it's taking awhile to remember the correct syntax, etc.


 

No, i understand completely, im just saying that because the difficulty increases 20% and the price decreases, doesn't your ROI in terms of percentage remain constant? Assuming a constant GHS rate and block reward of course.

Also, what i believe matters most, is buying GHS at the nearest opportunity of a price drop after a difficult y increase.
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Topic
Board Services
Re: PB Mining -- 5 year mining contracts!
by
BitChrisUK
on 17/03/2014, 18:27:35 UTC
When you think about 'reinvesting' with bitcoin mining you should calculate carefully that the yield after reinvesting will actually be more than the yield you were getting initially.
Because of the difficulty changes.
Just to be absolutely sure your principal stake is not actually slowly shrinking.
This gets confusing, at least for me.
Just pointing something out to you. Might be important.

Oh, hey, i make big mathematical errors sometimes, so try to double check anything i say before you act on any of it.


My understanding is that the date at which you invest is irrelevant, as the price drops in proportion to the increase in difficulty.

E.g. - 20% increase in difficulty, 20% decrease in price.

Due to this direct proportionality, i'm not certain that your ROI(%) should ever change? Except with a change in block payout?
Post
Topic
Board Services
Re: PB Mining -- 5 year mining contracts!
by
BitChrisUK
on 17/03/2014, 06:15:20 UTC
Is the give away today?
Post
Topic
Board Exchanges
Re: ***CEX.IO Cloud mining official page***
by
BitChrisUK
on 16/03/2014, 13:07:26 UTC
Thank you for your comments.
As My colleague said - it is a matter of luck, if the blocks are found within the compensated time.

I will raise the compensation method we use to the upper management, maybe we can upgrade it.

Right now, we are focused to get our system up and running without bugs and the DCs to always have electricity.

I will make sure your ticket is resolved within the soonest possible time. 


See you and your colleague are wrong, it's not a matter of luck and never should be. you bring luck into the equation by choosing how you deem and pay compensation.

Cex.io provide a hasrate, surely it is your responsibility to keep this hashrate online? where is the Liability pertaining to the maintenance of the hashrate cex.io keep for it's users?

If this hashrate goes offline cex.io should compensate for lost earnings of mining revenue not hashrate.

Your compensations methods are inadequate and it's about time this was addressed and dealt with.

Your hashrate may be fungible but the mining revenue itself is not  Wink



But the revenue itself is based on luck. The amount of earnings you lost is based on luck.

Thus hash rate is the only acceptable form of compensation, because all you lost was hashrate*time
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Topic
Board Exchanges
Re: ***CEX.IO Cloud mining official page***
by
BitChrisUK
on 16/03/2014, 09:42:15 UTC
Cex.io is the best, I've been mining, trading, getting 3% referrals, It's been a great experience so far.

+1
Post
Topic
Board Exchanges
Re: ***CEX.IO Cloud mining official page***
by
BitChrisUK
on 15/03/2014, 15:49:16 UTC
Look, this is the bottom line. In business you should never change a deal you already made. Period.

I have run many companies (50m plus), and I have made many deals I did not like. But I always homered a deal once I made it.

These guys caused the exact opposite of what they wanted. They wanted to attract new miners and create trust and loyalty. Heck, I was even thinking about even staying longer term (have over 100mh). But I will never do business with them again. They have no integrity

If you don't like the amount of free ltc you are getting, go elsewhere

Cex got just what they want, lots of publicity.

I completely understand why they have restricted their offer, and if you can't then their is something fundamentally wrong with you
Post
Topic
Board Exchanges
Re: ***CEX.IO Cloud mining official page***
by
BitChrisUK
on 15/03/2014, 10:41:57 UTC
they lied to us all,
and the game changed the rules

I think that after 5 days their pool will be back to zero and all will escape because they were lied by their side

return to the old rules .... if you still have dignity
You sound ungrateful for free LTC
Post
Topic
Board Services
Re: PB Mining -- 5 year mining contracts!
by
BitChrisUK
on 15/03/2014, 06:27:22 UTC
That topic has been discussed here: https://bitcointalk.org/index.php?topic=418183.640
And our stance is still the same.  

Quote
We don't want to show you any information on our set up if we don't have to.  We are getting plenty of business the way we are set up already.  We do not want to violate our sales agreements with our supplier(s) and there are other issues which may put our entire operation and customers at risk if we were to fulfill these requests.


Why sell 5 year contracts on GHs that will pretty much be worthless after year 1?  There's no Ghs that you can buy/sell today that would be worth anything when the difficulty is going to negate it.  It seems that you're trying to take advantage of the fact that newcomers to mining aren't going to realize that and spend a lot of money up front without a solid understanding of the ROI after 1 year.

As far as privacy, you can hire an auditing firm (Ernst & Young) to validate that you actually have fixed assets and not disclose your trade secrets. This allows investors to know that you actually have a method/process and a production facility without disclosing confidential information to competitors or bad actors. Many companies do this that sell proprietary products to the government or companies seeking investments from multiple private equity firms.

 



I've never heard anyone argue to have a shorter contract before?
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Topic
Board Exchanges
Re: ***CEX.IO Cloud mining official page***
by
BitChrisUK
on 14/03/2014, 21:22:22 UTC
GHash.IO prevents 51% accumulation of the Litecoin hashing power

We do our best to be a trustworthy pool and are not willing to destroy any cryptocurrency. Our actions coincide respectively.

Thank you for understanding!

http://s29.postimg.org/smw60uut3/awards.png

We have made contract: I start mine at your pool and you will provide me with with double reward for ONE week period.

You simply can't change rules when deal is running. If you want to prevent 51%, you should simple not accept any new hashpower.

You are buch of liars!

Of course they can change the rules, did you pay them or sign a contract?

Why would their be a fine print? There is no contract!

CEX are giving away free LTC, celebrate it and stop crying about it
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Topic
Board Exchanges
Re: ***CEX.IO Cloud mining official page***
by
BitChrisUK
on 14/03/2014, 20:50:52 UTC
Just to be clear, are people disinterested in a 51% attack?

Shouldn't they have some obligation to prevent such an occurrence?

Also, regarding there legal status, what have they done wrong? Changed the terms on a promotional offer?

Why point to Bit mining? That's like cutting your nose off to.....
And we all know that bit-mining are robbing gits
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Topic
Board Services
Re: PB Mining -- 5 year mining contracts!
by
BitChrisUK
on 10/03/2014, 21:25:28 UTC
As customer #36 it's great to see how strong the growth in PB Mining has been.  Rock on!!

As #87 I couldn't agree more.  If any new customers are looking to purchase some power, feel free to use the link in my signature to sign up...  Wink

+1 from #79
Post
Topic
Board Service Announcements
Re: [ANN] Bit-Mining.Co -BTC & LTC Mining Services.
by
BitChrisUK
on 10/03/2014, 18:25:02 UTC
Can we have a status update?

I cannot get into my account!

i love how ur rep is shit, nobody gives a fuck about u, maybe u got what was coming

Bit of an OTT reaction
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Topic
Board Services
Re: [FOR LEASE] **Cheap Cloud Mining**5GH/s - 450GH/s**
by
BitChrisUK
on 07/03/2014, 20:03:56 UTC
Sounds legit! Price for 10ghs?
Post
Topic
Board Service Discussion
Re: Bit-Mining.co - Time to leave?
by
BitChrisUK
on 06/03/2014, 07:22:05 UTC

Hello Bit-Miners,



In the last few days we have been experiencing a few technical issues at Bit-Mining, which has been made more difficult by a recent wave of spammers and pool/site attacks.

Spammers? You mean people requesting support right?

As for the technical issues, read this forum thread about your faulty market.

Quote

I would like to make it clear to all our users that there was never a missed payment. The issue with the discrepancy in History was the Date; the date was inaccurate as the script can take a few minutes to go through all user accounts and can process your payout after midnight.

Let me address another user issue. We have had certain users placing bids much higher than the asks in orderbook, who then feel taken advantage of when the order is excuted by the orderbook. A bid is a formal contract to purchase X shares at X price. When you enter a bid or ask into our system, it attempts to satisfy this contract at the parameters the user provides (both the number of shares purchased and the proposed price). This is a free market; this is intentional to allow you to purchase or sell as you see fit. We do not accept responsibility for a lack of user dilligence in this matter. Please review all orders carefully before you click the "SUBMIT" button.


If an opposite sell order does not exist, then how can an order be executed? Free market? Keep that crap tucked away; you mean we can buy at market price (The cheapest sell order), but if we enter an order that is of benefit of Bit-Mining against other users (Way above the most expensive sell order), then Bit-Mining fulfils the order as opposed to letting the transaction go to market.

And it isn't possible to buy as we see fit, i tried to reverse my transaction by selling at the same rate i purchased and unsurprisingly, the order was not fulfilled.

You shouldn't be able to buy and sell above market rate!
Quote

Due to all the spammers, trolls and attacks (on both the site and the pool) we have received recently, our Chat has been limited ONLY to users who have a minimum of 0.5 BTC, 25 LTC, 10 GHs or 100 Khs in their accounts. We took this decision to prevent further abuse of the chat system, which was becoming rampant. If you have any issues in the future, please use our newly implemented Ticket System at bit-mining.co/support or email us at Contact@Bit-Mining.Co.

Took about 5 days for an inadequate response from the above email, and since then, no replies.
Quote

We again apologize to users that may have been affected by these attacks on our service and assure you we are still committed to providing a superior user experience at the most competitive prices we can provide. The backlog of "fake" user issues made it very difficult for us to resolve legitimate issues in a timely fashion these last few days. We doing our best to try to fix everything and add new features; but this is becoming harder as we are getting spammed and attacked daily, which is slowing down our resolution times. We sincerely appreciate your continued use of our service and will endeavour to continue improving our site. All user suggestions and feedback are taken very seriously and many are intended to be implemented in the near future.

Sounds like a sob story; poor excuse for poor support.

Fix what? The faulty market orders?

How was my purchased order competitive? 1000 Times the market rate?

Quote

If you have any questions or concerns about any of the recent changes, please email us at contact@bit-mining.co. We would love to hear your feedback.


Bit-Mining.Co


It has taken this post and numerous emails and discussions in the chat to get even this response.

Post
Topic
Board Gambling
Re: FAIRLAY - New Bitcoin Prediction market - 2 weeks Beta 600mBTC for tester!
by
BitChrisUK
on 05/03/2014, 19:49:16 UTC
Hi, who are the winners?
Post
Topic
Board Project Development
Re: FAIRLAY - PREDICTION MARKET just launched - we reward test user with 600mBTC
by
BitChrisUK
on 05/03/2014, 19:48:20 UTC
Hi, who are the winners?