Do Not Buy Scrypt Cloud Mining Hashrate at ZeusHash

24 Dec
2014

zeushash-scrypt-not-profitable

A few days ago we have warned you that ZeusHash May Start Terminating Scrypt Cloud Mining Contracts due to the fact that the value of the mined coins is lower than what you need to pay as a daily maintenance fee. According to the terms of the Scrypt cloud mining contracts if this continues for 10 consecutive days your “lifetime” Scrypt cloud mining contract may be terminated. This has been continuing for the last 7 days, so only 3 more are left before ZeusHash starts terminating existing contracts if the trend continues. The problem is that ZeusHash still sells Scrypt cloud mining hashrate to users, even though they are aware of the situation and the high probability that even if you buy now not only you will not be earning anything back at the moment, but in 10 days your new contract may be terminated as per the conditions of the service you have agreed with. So stay away from the Scrypt cloud mining offers from ZeusHash for the moment and you might want to be careful with other services for mining Litecoin. The reason for the recent development and the fact that Scrypt cloud mining at ZeusHash is not profitable anymore is the low exchange rate of Litecoin and the high maintenance fees that the service has for LTC. Do note that if this trend continues other services that offer “lifetime” Scrypt cloud mining hashrate might be affected as well and start terminating their contracts. So at the moment and current market conditions it is wise not to think about investing in Scrypt cloud mining hashrate at all and most definitely stay away from ZeusHash Scrypt cloud mining. The recent drop in the Litecoin network hashrate and difficulty did not help in making the situation better…



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2 Responses to Do Not Buy Scrypt Cloud Mining Hashrate at ZeusHash

Alan

December 25th, 2014 at 05:31

“The problem is that ZeusHash still sells Scrypt cloud mining hashrate to users” – Fact is you can’t buy Scrypt now on ZeusHash. It’s ‘out of stock’.

Valkyrie69

December 28th, 2014 at 23:06

Zeus started out by selling scrypt miners. One of the not-so-secret “features” of these was that they were all wired incorrectly internally, so any standard PSU could not connect to them.

Later they went on to pre-sell their Volcano scrypt miners before cancelling production and forcing everyone into cloud mining.

Next with their cloud mining, no profit is available and no refunds seem imminent despite the company saying they will cancel the contracts.

Zeus have consistently lowered the standard in LTC mining and their latest fiasco simply goes to show that there’s still further for them to go. At least with cex.io users could trade their mining hash power for a currency of their choice and re-enter the market when it became viable again. Zeus give no such control to users. Their “Trade” section of their site simply means trading your hard earned BTC or LTC for their contracts which might turn unprofitable and then be cancelled and then what? As much use as their badly wired miners?

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