Terms and Conditions
Article 1 Applicability and Definitions
1.1 In these general conditions the following terms are defined as follows:
- "Account" : the membership that gives the User access to the Platform and services from Mining-Dutch;
- “Altcoins”: a reference to all Cryptocurrencies other than Bitcoin, such as Litecoin;
- “Botnet”: a collection of software bots who operate independent and automatically;
- “Block”: the result of a successful fixed transaction of a Cryptocurrency;
- “BTC”: a reference to the Cryptocurrency known as Bitcoin;
- “Cryptocurrency”: a peer-to-peer digital currency;
- “Hash rate”: the average mining power of the Mining Hardware used to mine Cryptocurrencies over a certain period;
- “Mining”: a process, in which miners perform mathematical operations to verify a transaction and add the transactions in a form of so called blocks to the public ledger (blockchain) of the cryptocurrency, for which they are rewarded with a certain amount of prospective cryptocurrency and certain amount of transaction fees.;
- “Miner”: the User who mines Blocks with his own or rented hardware within a Mining Pool;
- “Mining-Dutch”: the legal entity Mining-Dutch B.V.;
- “Mining Pool”: all the Users together who combine their computing power of their hardware to jointly Mine more Blocks of one specific Crypt currency;
- “Platform”: The proprietary hardware and software base d veloped and used by Mining-Dutch to allow powerful and efficient use of miners’ resources to find blocks successfully;
- “User”: The legal entities or individuals that have an account with Mining-Dutch;
- “Wallet”: the personal overview on the Platform which shows the Cryptocurrencies that belong to a User.
1.2 These general conditions are applicable on all services and actions between Mining-Dutch and User.
1.3 Mining-Dutch is entitled to modify the general conditions unilaterally. Mining- Dutch will inform the Other Party in writing of the modified general conditions, by sending the modified general conditions to the Other Party. If the Other Party does not reject the modified general conditions within 7 working days, the modified general conditions will have legal force, also for already existing Agreements.
1.4 In the event one or more of the provisions of these conditions proving to be invalid or declared void, this will not prejudice the legal force of the other provisions. Article 2 Registration, use and costs
Article 2 Registration and use costs
2.1 The registration of an Account is free of charge.
2.2 When registering an Account it may be necessary that Mining-Dutch has to perform an identity authentication to prevent fraud or money laundering.
2.3 Mining-Dutch receives a fee of (maximum) 2% from every pay out that the Miners receive for the successful creation of a Block as compensation for the use of the Platform. The percentage fee differs per Cryptocurrency. The exact percentage is stated on the website by every Mining Pool/Cryptocurrency.
2.4 It is forbidden to use the Platform through a network for anonymous communication, like Tor.
2.5 The usage of a Botnet is forbidden. If Users have large number of Mining hardware with different IP-addresses it is assumed that the User is making use of a Botnet. In that circumstance Mining-Dutch is allowed to bl ck and/or delete the Account of the User without a warning. When Mining-Dutch blocks or deletes an account, User loses the Cryptocurrencies that are stored in their Wallet.
2.6 The usage of multiple Accounts by one person can point to the use of a Botnet. If Mining-Dutch finds out that one person is using multiple Accounts an investigation will be started, and if the outcome is positive this can result in the same consequences as mentioned in the previous stipulation.
2.7 Mining-Dutch can at all times without an statement of reason deny any User the access to the Platform and/or block the Account of any User.
Article 3 Mining earnings
3.1 All rewards from Mining Pools, collected within a Mining Pool, are distributed among the Miners proportionally. This means that the Miner share the remuneration received for the share they had in Mining the Block. Example, if a Block is found after 1,000 calculations and the Miner has a share of 100 calculations, the Miner will receive 1/10 of the reward.
3.2 The revenues the Miner earns are credited to the Wallet of the Miner. The fee for Mining-Dutch will be deducted immediately. Mining-Dutch strives to add the mining revenues to the Miner's Wallet within 30 minutes.
3.3 It is possible for the User to set up the Wallet in such a way that the mined Cryptocurrencies are automatically sold via an exchange for a Cryptocurrency of choice. A 3% fee applies to the conversion. Also see article 4.7 and 9.2.
3.4 The Miner only earns rewards if Blocks are mined. When in the end it turns out that no Blocks are mined, the User also doesn’t get a reward (this also applies to soft and hard forks and subsequent separate Blocks). Mining-Dutch never guarantees that Mining will lead to Blocks and its subsequent rewards via its platform. Mining-Dutch offers the possibility to bundle computing power, but the Miners Mine at their own risk. "No Blocks, no revenue".
Article 4 Wallet
4.1 The credited Cryptocurrencies in the Wallet are not immediately available. The created Blocks must first be confirmed by the network, after which the rewards for the created Blocks become available.
4.2 The Wallet is not an e-wallet and is only intended to pay Users their rewards for mined Blocks. The Wallet does not have the encryption/security of an e-wallet. The User is therefore obliged to transfer the Cryptocurrencies to an e-wallet or hardware wallet.
4.3 If the User does not transfer this Cryptocurrency to an e-wallet or hardware wallet outside the Platform within six months of receiving the Cryptocurrency in their Wallet, Mining-Dutch may transfer these Cryptocurrencies to its own e-wallet or hardware wallet.
4.4 The obligations and consequences for the User as mentioned in articles 4.2 and 4.3 are to protect the Users in order to prevent the Platform becoming a target for hackers due to the presence of large numbers of Cryptocurrencies and therefore justifies the obligation and consequence.
4.5 It is the User's own responsibility to transfer the Cryptocurrencies to an e-wallet or hardware wallet as soon as possible after receipt in the Wallet. Therefore Mining-Dutch accept no liability for the loss of Cryptocurrencies from the Wallet due to hacks or loss in any other way.
4.6 The Wallet can be set up in such a way that the Cryptocurrencies will periodically be transferred to an e-wallet. This allows the User to easily prevent the loss of Cryptocurrencies as described in this article.
4.7 If the User has set up their Wallet - as described in Article 3.3 – in the way that the mined Cryptocurrencies are automatically converted via an exchange to a Cryptocurrency of their choice, Mining-Dutch will aspire to perform that currency swap within 30 minutes after instructed to.
Article 5 Availability of Services
5.1 Mining-Dutch will aspire to achieve uninterrupted availability of its Platform and Mining Pools. Mining-Dutch however offers no guarantees regarding the availability of its website and Mining Pools.
5.2 Users are solely responsible for configuring their hardware in such a way that in the event the Platform or the Mining Pool should go offline while Mining, the hardware of the User reconnects with the Platform and that a backup pool is set up. For the correct configuration, the User must use the configuration settings as stated on the website under "Getting started".
5.3 Mining-Dutch will aspire to keep his software and firmware up-to-date .
Article 6 Liability
6.1 Mining-Dutch is solely liable to User for damage, if this damage is due to non- compliance with the due care and expertise that the User can reasonably expect in the execution of the Agreement from Mining-Dutch.
6.2 Mining-Dutch is never liable for damage, of any nature, arising from the incorrect or incomplete information provided by or on behalf of the User.
6.3 Mining-Dutch is never liable for the loss of digitally stored information of the User.
6.4 Mining-Dutch is never liable for any damage that has arisen as a result of software that is intended to cause damage to the Platform, including, but not limited to, computer viruses and hackers. Mining-Dutch is entitled to use antivirus software if necessary to limit damage to systems and to remove or isolate infected files.
6.5 In the event of an attributable shortcoming, Mining-Dutch must first be given notice of default in writing, with a reasonable term to still fulfil its obligations, or to rectify any errors or limit or eliminate damage.
6.6 Mining-Dutch is never liable for all indirect or immaterial damage such as, but not limited to, lost income and profits and consequential damage.
6.7 Mining-Dutch is not responsible for:
a. any change in the degree of difficulty of Mining;
b. any change in legislation that adversely affects the User;
c. any change in exchange rates of Bitcoin or other Cryptocurrency.
d. the creation of hard/soft forks where separate Blocks arise;
e. script hacking by third parties.
Article 7 Responsibility and usage by User
7.1 User is solely responsible for the configuration of their own mining software and the right usage of the Platform. Mining-Dutch is never liable for damage that arises from wrong usage of the Platform or wrong configuration of the Mining software.
7.2 User is not allowed to use the Platform in an unlawful way such as usage in violation to Dutch law or other relevant and applicable law. User will use the Platform as may be expected from a good User and will deny himself of clandestinely usage of the Platform. User is solely responsible and liable for any use of the Platform.
7.3 User refrains himself from causing disruption to other Users or causing damage to the Platform. The User is not permitted to start processes or programs of which the User knows or can reasonably suspect that this will cause disruption or damage to Mining- Dutch.
7.4 It is (whether this is legal or not) prohibited by Mining-Dutch to offer or distribute matters on the Platform which:
a.) are primarily intended to assist others in violating the rights of third parties, such as websites with (exclusively or predominantly) hacking tools or explanations about computer crime that is clearly intended to enable the reader to carry out the described criminal behaviour ) and not to defend themselves against it;
b) are libellous, defamatory, abusive, racist, discriminatory or hateful;
c) contain child pornography or bestiality pornography or are obviously aimed at helping others, other than investigative authorities, to find such things;
d) constitute a violation of the privacy of third parties, including in any case, but not exclusively, the dissemination of personal data of third parties without permission or necessity or the repeated harassment of third parties with these undesirable communications;
e) contain hyperlinks, torrents or references with (locations of) items that infringe on copyrights, neighbouring rights or portrait rights;
f) contains malicious content such as viruses or spyware.
7.5 The User is not permitted to pretend to be someone else at the time of registration and in all communication with Mining-Dutch.
7.6 The User is strictly forbidden to use/misuse (programming) errors in the Platform or the website and to use these errors for personal or co mercial gain. If the User detects a (programming) error, the User must report this immediately to Mining-Dutch, via
mining-dutch@ziggo.nl.
7.7 If, in the opinion of Mining-Dutch, disruption, damage or other danger arises for the functioning of the computer system, the Platform or the network of Mining-Dutch or third parties and/or of the service from Mining-Dutch provided via the Internet, in particular by excessive sending of emails or other data, (D) DOS attacks, poorly secured systems or activities of viruses, Trojans and similar software, Mining-Dutch is entitled to take all measures it reasonably deems necessary to avert or prevent this danger. Mining-Dutch may charge the costs that are reasonably necessary for these measures to the User, if the User can be blamed for the cause.
7.8 If the User exhibits undesirable behaviour, Mining-Dutch is entitled to deny the User further access to the website/Platform and to block and/or delete the User's account.
Article 8 Confidentiality
8.1 The Other Party is obliged to treat all information that comes to his notice in the context of the performance of the Agreement as confide tial, protect its confidentially and stipulate the same from employees and third parties involved in the performance of the Agreement.
Article 9 Risk notice
9.1 Actions with Cryptocurrencies carry inherent risks. Due to the fact that Cryptocurrencies are unregulated and decentralized, their value is not insured by any legal entities. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, such as USD/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware. The value of any mined Cryptocurrency may lose a big part or even their total value at any moment of time due to the nature of Cryptocurrencies. User understands that he is solely responsible for management of the Cryptocurrencies in his balance as well as any losses or charges incurred by any third- party entity.
9.2 In the event that Mining-Dutch is not able to do the conversion – as mentioned in article 4.7 – within the aspired 30 minutes, Mining-Dutch is not liable if the exchange rate at that later moment is unfavourable for the User. The use of the automatic conversion is at own risk of the User.
9.3 Any information related to Cryptocurrency and Cryptocurrency mining that is/was posted, published and/or provided by Mining-Dutch via any channel of communication is subject to change, such as change of regulation. User is solely responsible for obtaining the correct information.
Article 10 Force Majeure
10.1 In these conditions, force majeure is understood to mean all external causes, foreseen or unforeseen, which are beyond the control of Mining-Dutch, preventing Mining-Dutch to fully or partly fulfil her obligations.
10.2 During force majeure, the obligations of Mining-Dutch will be suspended.
10.3 In case of force majeure Mining-Dutch is never liable for suffered damage.
Article 11 General
11.1 Each Agreement between Mining-Dutch and Other Party is exclusively governed by Dutch law.
11.2 Any dispute arising from agreements with Mining-Dutch will be settled by the court Noord-Holland in Alkmaar, to the exclusion of any other court or legal authority.
11.3 All questions, remarks and/or complains have to be submitted at the support centre on the website. Mining-Dutch will aspire to reply the questions, remarks and/or complains within two business days.