[SCAM] Fake cloud miner

[Rikafip]

What happened: as the title says, user is advertising fake cloud mining service that offers up to 60 BTC monthly profit. Everything is pretty obvious here as we know that something like that can be offered only by a ponzi scheme, which cloud mining websites usually are anyway.

User Bitcoininvester552
ANN https://bitcointalk.org/index.php?topic=5445040.0
Archive https://ninjastic.space/post/61918797
Flag type 1 https://bitcointalk.org/index.php?action=trust;flag=3136

If you’re looking to invest in bitcoins, then I am your man. For everyone that works with me. I will give you a 100 GH/S

SATOSHI CONTRACT
10,000,000+ GH/S
BITCOIN MINING POWER
CONTRACT TIME:30 DAYS
MIN-MAX DEPOSIT:10~20 BTC
DAILY PROFIT:1~2 BTC
MONTHLY PROFIT:30~60 BTC
NO WITHDRAW FEE
NO ELECTRICITY FEE

[1714196745]

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[logfiles]

He opened a self moderated Announcement thread because he already knows he's advertising a scam and it would definitely receive a wild backlash from the community

Profile tagged and flag supported

[coin-investor]

This is the kind of flag that I like supporting obvious Ponzi schemes using Bitcoin cloud mining, @coolcoinz drop a warning on that thread, hopefully, many newbies will read that warning before the post is taken down because the thread is moderated.

When you are in a service section and you're an investment project and you moderated your thread then there's something suspicious on it, as an investment company you will answer all questions, and the dev of that project lock that thread because obviously, he knows that people will question his platform which is obviously a Ponzi scheme

[examplens]

whenever I see a cloud scheme, somehow the very sound of that word sets off the "fraud" alarm.

I think you have a redundant word in opening this topic, fake. I'm not sure if there is a regular and legal cloud mining service at all. They all hide behind fake mining.

[dkbit98]

I am supporting the Flag against Bitcoininvester552.
I don't know who in year 2023 would purchase anything related with cloud mining (even if they are legitimate company), but in this case we see obvious scammers.
There is no website with more information, only way to contact him is with email address, and he registered account in forum just few days ago, this are all red flags for me.

[aioc]

whenever I see a cloud scheme, somehow the very sound of that word sets off the "fraud" alarm.

You are right on this, we have already established that cloud mining is fraud and just a Ponzi scheme, they are just good at making it look good and presentable to investors.

I think you have a redundant word in opening this topic, fake. I'm not sure if there is a regular and legal cloud mining service at all. They all hide behind fake mining.

I agree again, there's no such thing as a true cloud mining site all of them I mean all are Ponzi schemes there are no mining rigs there are no physical machines, all they have are spreadsheets of money coming in and people lined up to receive their payout, of course when the flow of money stops coming in payout will also stop, then they will shut down the site.

[coolcoinz]

He opened a self moderated Announcement thread because he already knows he's advertising a scam and it would definitely receive a wild backlash from the community

Profile tagged and flag supported

It's self-moderated but he doesn't bother to moderate it. Maybe he doesn't know how?
Anyway, I've commented there days ago and my post is still there. I think he gave up on the forum.
Scamming should never be easy.

I agree again, there's no such thing as a true cloud mining site all of them I mean all are Ponzi schemes there are no mining rigs there are no physical machines, all they have are spreadsheets of money coming in and people lined up to receive their payout, of course when the flow of money stops coming in payout will also stop, then they will shut down the site.

There are (were?) cloud mining operators with real hardware, like Genesis Mining used to do back in the day, but their business model was built on taking advantage of their customers.
They were mining, but for themselves, not for you, or any other person who had a contract with them. Mining contracts were there to allow them to borrow money in the form of low interest loans.

[Saisher]

whenever I see a cloud scheme, somehow the very sound of that word sets off the "fraud" alarm.

I think you have a redundant word in opening this topic, fake. I'm not sure if there is a regular and legal cloud mining service at all. They all hide behind fake mining.

I request OP to change the title and take down the word Fake because newbies might think there's such a thing as true or legit cloud miner when in reality there is none.
I've seen a cloud mining script in one software store and this proves that cloud mining is a Ponzi scheme because the operator is supplying the data and the hash even if there's no equipment to show.
In the past in the early days of mining cloud mining is legit and popular because they show their location which you can trace on Google map and their equipment via their Youtube channel, something scam cloud mining sites cannot do these days.

[dansus021]

Flag supported

I just recent flag some people today that are promoting High Yield Investment Program and what on earth there is still a company that cloud mining the last legit company that I found like Hashnest backed by Antminer and Genesis Mining is considered dead hashnest is already dead

but this person gives

~SNIP~

NO WITHDRAW FEE
NO ELECTRICITY FEE

How this even profitable to company right hahaha If I have the mining farm I would definitely mining for me itself or just open Hosting Service its way more profitable than renting out with high return like this

[TheUltraElite]

Just mine coins out of thin air and make free money and topple the government's federal supply - what cheap weed guys smoke everyday needs to be tested. By now any phrase having the term "cloud mining" immediately raises a red flag for me, but there will always be some newbies falling for this, so these threads should suffice to warn them about the possibility of doing their due diligence before stepping into that uncharted area.

Flag supported from my end.

[Rikafip]

I'm not sure if there is a regular and legal cloud mining service at all. They all hide behind fake mining.

While you are probably right and in the vast majroify of cases (if not all) cloud mining equals to scam, I wanted to stay open to a possibility that there is actually a legit cloud mining.

Speaking of cloud mining, few months ago  Binance started its own cloud mining service[/url]. I haven't tried it though, but it would be kinda stupid to risk everything by running something like that. Then again, even smart and sucessfull people tend to do stupid things so this may very well be scam as well.

[albon]

~SNIP~

NO WITHDRAW FEE
NO ELECTRICITY FEE

How this even profitable to company right hahaha If I have the mining farm I would definitely mining for me itself or just open Hosting Service its way more profitable than renting out with high return like this

Quite simply, they do not want to profit from the withdrawal fees of their customers or the electricity fee, as it is just a fee that may be simple. They want to steal their customers’ capital completely, and they put these advantages only to entice potential users to fall into their malicious traps. Indeed, whoever will use cloud mining and believe their false promises is undoubtedly someone who has no experience and does not have an iota of reason. Bitcoin cloud mining is common and promoted by scammers because the victims do not have the ability to check the mining equipment used. They may undoubtedly promote nothingness, and we cannot prove what they have, so these massive profits are just a trap, and investors certainly won't get them at the end of the plan.