Terms of Service

In using this website you are deemed to have read and agreed to the following terms and conditions.

The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements: “Miner”, “You” and “Your” refers to you, the person accessing this website and accepting the pool’s terms and conditions. “The Pool”, “Ourselves”, “We” and “Us”, refers to the mining pool service. Any use of the above terminology or other words in the singular, plural, capitalisation and/or he/she or they, are taken as interchangeable and therefore as referring to same.

Disclaimer – Exclusions and Limitations

The information on this web site is provided on an “as is” basis. To the fullest extent permitted by law, this Pool: excludes all representations and warranties relating to this website and its contents or which is or may be provided by any affiliates or any other third party, including in relation to any inaccuracies or omissions in this website and/or the Pool’s literature; and excludes all liability for damages arising out of or in connection with your use of this web site. This includes, without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised the Pool of the possibility of such potential loss), damage caused to your computer, computer software, systems and programs and the data thereon or any other direct or indirect, consequential and incidental damages.

Definitions

Capitalized terms will have the following meaning:

HashLoft Website means a website located on the following web address: www.hashloft.io.

HashLoft Account means an online account available on the HashLoft Website and created by completing the registration procedure on the HashLoft Website.

Account holder means a legal entity or individual who completes the registration procedure and successfully creates the HashLoft Account.

HashLoft Services mean all services provided by the HashLoft, namely but not limited to providing of the HashLoft API, HashLoft Mining Software including a licence for HashLoft Miner, HashLoft Website, HashLoft Account and all other software products, applications and services associated with these products.

Stratum is a lightweight mining protocol: https://irng.ca/StratumProtocol

Force Majeure Event means any governmental or relevant regulatory regulations, acts of God, war, riot, civil commotion, fire, flood, or any disaster or an industrial dispute of workers unrelated to you or HashLoft. Any act, event, omission, happening or non-happening will only be considered Force Majeure if it is not attributable to the wilful act, neglect or failure to take reasonable precautions of the affected party, its agents, employees, consultants, contractors and sub-contractors.

Risk Disclosure

If you choose to use HashLoft Services, it is important that you remain aware of the risks involved, that you have adequate technical resources and knowledge to bear such risks and that you monitor your transactions carefully.

GENERAL RISK

You understand that HashLoft Services, blockchain technology, Bitcoin, all other cryptocurrencies and cryptotokens, proof of work concept and other associated and related technologies are new and untested and outside of HashLoft’s control. You acknowledge that there are major risks associated with these technologies. In addition to the risks disclosed below, there are risks that HashLoft cannot foresee and it is unreasonable to believe that such risk could have been foreseeable. The performance of HashLoft’s obligation under these Terms will terminate if market or technology circumstances change to such an extent that (i) these Terms clearly no longer comply with HashLoft’s expectations, (ii) it would be unjust to enforce HashLoft’s obligations in the general opinion or (iii) HashLoft’s obligation becomes impossible.

HASHLOFT ACCOUNT ABUSE

You acknowledge that there is risk associated with the HashLoft Account abuse and that you have been full informed and warned about it. The funds stored in the HashLoft system may be disposed by third party in case the third party obtains the Account holder’s login credentials. The Account holder shall protect his login credentials and his electronic devices where the login credentials are stored against unauthorized access.

REGULATORY RISK

You acknowledge that there is risk associated with future legislation which may restrict, limit or prohibit certain aspects of blockchain technology which may result also in restriction, limitation or prohibition of HashLoft Services and that you have been fully informed and warned about it.

RISK OF HACKING

You acknowledge that there is risk associated with hacking HashLoft Services and HashLoft Website and that you have been fully informed and warned about it. Hacker or other groups or organizations may attempt to interfere with HashLoft Services or HashLoft Website in any way, including without limitation denial of services attacks, Sybil attacks, spoofing, smurfing, malware attacks, mining attacks or consensus-based attacks.

CRYPTOCURRENCY RISK

You acknowledge that there is risk associated with the cryptocurrencies which are used as payment method and that you have been fully informed and warned about it. Cryptocurrencies are prone to, but not limited to, value volatility, transaction costs and times uncertainty, lack of liquidity, availability, regulatory restrictions, policy changes and security risks.

CONNECTION RISK

You acknowledge that there are risks associated with usage of HashLoft Services which are provided through internet including, but not limited to, the failure of hardware, software, configuration and internet connections and that you have been fully informed and warned about it. You acknowledge that HashLoft will not be responsible for any configuration, connection or communication failures, disruptions, errors, distortions or delays you may experience when using HashLoft Services, howsoever caused.

HASHING POWER PROFITABILITY RISK

You acknowledge that there is risk associated with the profitability of the hashing power provision and that you have been fully informed and warned about it. You acknowledge that all Hashing power rig’s earning estimates and profitability calculations on HashLoft Website are only for informational purposes and were made based on the Hashing power rigs set up in the test environments. HashLoft does not warrant that your Hashing power rigs would achieve the same profitability or earnings as calculated on HashLoft Website. There is risk that your Hashing power rig would not produce desired hashing power quantity and quality and that your produced hashing power would differentiate from the hashing power produced by our Hashing power rigs set up in the test environments. There is risk that your Hashing power rigs would not be as profitable as our Hashing power rigs set up in the test environments or would not be profitable at all.

Warranties

HashLoft Services are provided on “AS IS” and “AS AVAILABLE” basis and with all faults and defects. To the maximum extent permitted by applicable law, HashLoft makes no representations and warranties and you waive all warranties of any kind. Particularly, without limiting the generality of the foregoing, the HashLoft makes no representations and warranties, whether express, implied, statutory or otherwise regarding HashLoft Services or other services related to HashLoft Services and provided by third parties, including any warranty that such services will be uninterrupted, harmless, secure or not corrupt or damaged, meet your requirements, achieve any intended results, be compatible or work with any other software, applications, systems or services, meet any performance or error free or that any errors or defects can or will be corrected. Additionally HashLoft makes no representations and warranties, whether express, implied, statutory or otherwise of merchantability, suitability, reliability, availability, timeliness, accuracy, satisfactory quality, fitness for a particular purpose or quality, title and non-infringement with respect to any of the HashLoft Services or other services related to HashLoft Services and provided by third parties, or quiet enjoyment and any warranties arising out of any course of dealing, course of performance, trade practice or usage of HashLoft Services including information, content and material contained therein.

Especially HashLoft makes no representations and warranties, whether express, implied, statutory or otherwise regarding any payment services and systems, HashLoft wallet which is provided by third party or any other financial services which might be related to the HashLoft Services.

You acknowledge that you do not rely on and have not been induced to accept the HashLoft Services according to these Terms on the basis of any warranties, representations, covenants, undertakings or any other statement whatsoever, other than expressly set out in these Terms that neither the HashLoft nor any of its respective agents, officers, employees or advisers have given any such warranties, representations, covenants, undertakings or other statements.

Liability

HashLoft and their respective officers, employees or agents will not be liable to you or anyone else, to the maximum extent permitted by applicable law, for any damages of any kind, including, but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to lost profits, trading losses or damages that result from use or loss of use of HashLoft Services), even if HashLoft has been advised of the possibility of such damages or losses, including, without limitation, from the use or attempted use of HashLoft Services or other related websites or services.

HashLoft will not be responsible for any compensation, reimbursement, or damages arising in connection with: (i) your inability to use the HashLoft Services, including without limitation as a result of any termination or suspension of the HashLoft Website or these Terms, power outages, maintenance, defects, system failures, mistakes, omissions, errors, defects, viruses, delays in operation or transmission or any failure of performance, (ii) the cost of procurement of substitute goods or services, (iii) any your investments, expenditures, or commitments in connection with these Terms or your use of or access to the HashLoft Services, (iv) your reliance on any information obtained from HashLoft, (v) Force Majeure Event, communications failure, theft or other interruptions or (vi) any unauthorized access, alteration, deletion, destruction, damage, loss or failure to store any data, including records, private key or other credentials, associated with HashLoft Services.

Our aggregate liability (including our directors, members, employees and agents), whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of HashLoft Services, or inability to use HashLoft Services under these Terms or under any other document or agreement executed and delivered in connection herewith or contemplated hereby, shall in any event not exceed $1 USD per user.

You will defend, indemnify, and hold HashLoft harmless and all respective employees, officers, directors, and representatives from and against any claims, demand, action, damages, loss, liabilities, costs and expenses (including reasonable attorney fees) arising out of or relating to (i) any third-party claim concerning these Terms, (ii) your use of, or conduct in connection with, HashLoft Services, (iii) any feedback you provide, (iv) your violation of these Terms, (v) or your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it. If we are obligated to respond to a third-party subpoena or other compulsory legal order or process described above, you will also reimburse us for reasonable attorney fees, as well as our employees’ and contractors’ time and materials spent responding to the third-party subpoena or other compulsory legal order or process at reasonable hourly rates.

HashLoft Services and the information, products, and services included in or available through HashLoft Website may include inaccuracies or typographical errors. Changes are periodically added to the information herein. HashLoft may make improvements or changes on the HashLoft Website at any time. No information provided to you by HashLoft shall be considered or construed as advice.

Log Files

We use IP addresses to analyse trends, administer the site, track user actions, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. Additionally, for systems administration, detecting usage patterns and troubleshooting purposes, our web servers automatically log standard access information including browser type, access times/open mail, URL requested, and referral URL. This information is not shared with third parties and is used only within this Pool on a need-to-know basis. Any individually identifiable information related to this data will never be used in any way different to that stated above without your explicit permission.

Transaction Fees and Payouts

  1. Pool fee is 1.47% (calculated from block reward and transaction fees), however, at the moment there is a zero operation fee.

  2. Fees from all transactions are paid to miners that use Stratum interface.

  3. Orphaned (invalid) blocks are not paid. It helps to keep pool fee low.

  4. HashLoft’s pool is not an e-wallet or a bitcoin bank. We are not responsible for loss of your bitcoins which are stored in the pool account. All of your mined coins have to be regularly paid out to your secured wallet.

Tax

It is your responsibility to determine what, if any, taxes apply to the transactions you complete or services you provide via the HashLoft Services, it is your responsibility to report and remit the correct tax to the appropriate tax authority and all your factual and potential tax obligations are your concern. You agree that HashLoft is not in any case and under no conditions responsible for determining whether taxes apply to your transactions or services or for collecting, reporting, withholding or remitting any taxes arising from any transactions or services. You also agree that HashLoft is not in any case and under no conditions bound to compensate for your tax obligation or give you any advice related to tax issues.

All fees and charges payable by you to HashLoft are exclusive of any taxes, and shall certain taxes be applicable, they shall be added on top of the payable amounts. Upon our request, you will provide to us any information that we reasonably request to determine whether we are obligated to collect VAT from you, including your VAT identification number. If any deduction or withholding is required by law, you will notify HashLoft and will pay HashLoft any additional amounts necessary to ensure that the net amount received by HashLoft, after any deduction and withholding, equals the amount HashLoft would have received if no deduction or withholding had been required. Additionally, you will provide HashLoft with documentation showing that the withheld and deducted amounts have been paid to the relevant taxing authority.

Account Usage, Precautions for Botnets

  1. Botnets aren’t welcome. Accounts with large amount of miners which are using different IPs may be disabled without previous warning. Please move your zombies elsewhere.

  2. More accounts which are controlled by one person may be considered as a botnet.

  3. Accounts which are inactive for longer than a year (no login to web profile, no mining activity) may be deleted after three email warnings (30 days, 10 days and one day before deletion). Remaining bitcoin balance will be considered as a pool donation.

SERVICE ELIGIBILITY

HashLoft  Services are not for use by anyone under the age of 18.

Users who were below this new Minimum Age when they started using HashLoft Services under our previous Terms of Service may continue to use them, as they have already reached the new Minimum Age since then or will reach it in the near future.

“Minimum Age” means 18 years old. However, if law requires that you must be older in order for HashLoft to lawfully provide the Services to you without parental consent (including using of your personal data) then the Minimum Age is such older age.

Intellectual Property

HashLoft retains all copyright and other intellectual property rights, including inventions, discoveries, knowhow, processes, marks, methods, compositions, formulae, techniques, information and data, whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyrights or patents based thereon over all content and other materials contained on HashLoft Website or provided in connection with the HashLoft Services, including, without limitation, the HashLoft logo and all designs, text, graphics, pictures, information, data, software, source code, as well as the compilation thereof, sound files, other files and the selection and arrangement thereof. These material is protected by Canadian and international copyright laws and other intellectual property right laws. These Terms shall not be understood and interpreted in a way that they would mean assignment of copyright or other intellectual property rights, unless it is explicitly defined so in these Terms.

HashLoft hereby grants you a limited, nonexclusive and non-sublicensable license to access and use HashLoft’s copyrighted work and other intellectual property for your personal or internal business use. Such license is subject to these Terms and does not permit any resale, the distribution, public performance or public display, modifying or otherwise making any derivative uses, use, publishing, transmission, reverse engineering, participation in the transfer or sale, or any way exploit any of the copyrighted work and other intellectual property other than for their intended purposes. This granted license will automatically terminate if HashLoft suspends or terminates your access to the HashLoft Services or closes your HashLoft Account.

HashLoft will own exclusive rights, including all intellectual property rights, to any feedback including, but not limited to, suggestions, ideas or other information or materials regarding HashLoft Services or related products that you provide, whether by email, posting through our HashLoft Website, HashLoft Account or otherwise and you irrevocably assign any and all intellectual property rights on such feedback unlimited in time, scope and territory. Any Feedback you submit is non-confidential and shall become the sole property of HashLoft. HashLoft will be entitled to the unrestricted use, modification or dissemination of such feedback for any purpose, commercial or otherwise, without acknowledgement or compensation to you. You waive any rights you may have to the feedback. We have the right to remove any posting you make on HashLoft Website if, in our opinion, your post does not comply with the content standards defined by these Terms.

Notification of Changes

HashLoft Pool reserves the right to change these conditions from time to time as it sees fit and your continued use of the site will signify your acceptance of any adjustment to these terms. If there are any changes to our privacy policy, we will announce that these changes have been made on our home page and on other key pages on our site. You are therefore advised to re-read this statement on a regular basis

These terms and conditions form part of the Agreement between the Miner and ourselves. Your accessing of this website and/or undertaking of a mining indicates your understanding, agreement to and acceptance, of the Disclaimer Notice and the full Terms and Conditions contained herein.

Last updated: August 01, 2018