Bitcoin Forum

Hey guys, I've been a long time lurker and I finally registered to post about MiningUnited.com

This is a website for renting a mining rig for short term gain. You get a set amount of bitcoins depending on the package you "purchase".

I've been using them for about 3 weeks now, and have gotten paid out multiple times. Most miners can make more mining on their own, with their own hardware, but this is a way to supplement your current mining income. I'm mining on my rig, and sending bitcoins to MiningUnited.com to make extra bitcoins. They seem to make their money off of Premium membership fees.

The current price structure for mining packages are:
0.05 for 3 days of mining will get you: 0.0662 back
0.10 for 3 days of mining will get you: 0.1339 back
0.25 for 4 days of mining will get you: 0.3517 back

I would suggest you check them out. (I do not own, run, or sponsor this website, just passing along information.)

http://www.miningunited.com/index.html (http://www.miningunited.com/index.html)


MOD EDIT:
Possibly a scam, read this thread (https://bitcointalk.org/index.php?topic=179917.0)

This seems sketchy

EDIT:
Read some more and it's probably a scam, posted a warning in the first post.

http://www.miningunited.com/trans.html

I call BS that you do not have a vested interest:

I didn't think that would be a problem. They have paid me out everytime I've sent bitcoins. I'm not sure what kind of proof I could give on it.

Here's a screenshot of my wallet, if that helps:

http://s17.postimg.org/rzli3vn7z/electrum.jpg

Heck, here's my Wallet ID, so you can compare to Mining United's list of payouts.

Wallet ID: 1PSnLUwMqAa6qXb9XkMcFekAsntJbHwNNx

Hell, I could even post a email thread I've sent miningunited with questions I've asked and his answers.

I say it's not a scam. As a new user to this forum, take it with a grain of salt. You can always try the lowest package and see if you get paid out. Then use the profits to build upon, so at the most you're risking 0.05 btc.

EDIT: In regards to the link you posted in my original thread: I looked through that forum post and came across the section about the payouts not appearing in Blockchain. Would it help if I posted my conformation links from Blockchain? I don't want to be accused of being a scammer, or anything. I just wanted to tell people on the forum that I visit often, about what I've ran across and how it's worked for me.

Now, if I happened to get 1 BTC for posting a message about my experience, great! Is that a problem?

So with proof like this, can we re-edit my original post and remove the Big, Red, Scam warning?

Hell no, it still looks super sketchy.  I don't believe this kind of thing can last.

Hello my name is Ahmad

I want to share my experience of using services miningunited.com

at the beginning I think this similar ponzi and scam .. but NOW! I get a 0.1 bitcoin from miningunited.com only by 0:25 for 3 days

no longer click ads, view video ads, enter the bitcoin address on a few websites that just give you a little free bitcoin ..

change my mind how to get bitcoin easily without any effort, because miningunited.com has helped me to get bitcoin easily.. Thanks miningunited You saved my time :) .. and they are also quick response

this is my payment proof

http://i41.tinypic.com/34dk7jo.png

Thanks :D

Will give 1.0 BitCoin to anyone who can prove Mining United is a pyramid scheme or scam. Go to their website, they are not accepting new users or new purchases at this time.

+1 for me and -1 to all those who thought they were using new purchases to pay out old as a "pyramid scheme".

...oh look I just got another .1339 payout!  ;D

They are not accepting new users? And they still pay?

So you think 8.9% interest compounded daily is legit?  Because that's what the .25 BTC one is.  No way that is a business plan.

I think you're not understanding how it would work. Now, I don't know exactly how they do it either, but this is what I can gather from their website.

I rent a server for $500 a month, with $100 in electricity. (easy numbers, not an exact quote of course.)

My costs every month are going to be $600 total just to mine bitcoins. This is a flat rate, always going to pay it whether I mine bitcoins, or run a Quake 3 server.

I can make $1000 a month mining bitcoins with this server. That's a $400 profit, after taking out electricity and rent.

Now, if I can get someone to rent this server from me for 1 month, and pay me $600 a month for it, and only expects $700 in bitcoins, then I cover my cost of the server, the electricity, and I still keep $300 in my pocket. I'm not going to pay them $1000 worth of bitcoins to rent the server, I'm going to hold some back.

My guess is that if they are charging 0.25 for 3 days on their server, then over those 3 days, they are making 1.0 bitcoins, and only giving back 0.35, netting a profit of 0.65. All with no risk to themselves.

Now, I could retype all of that substituting Bitcoins in the small denominations like .02, .05, .10 and what-not, but it's 6:35AM in the morning, I've had a half a cup of coffee, and crusty eyes, so I don't have the mental power to do the calculations.

Now, I'm also going to try selling Premium memberships... That's just cash in my pocket above and beyond what I'm making. Who knows, maybe I'll throw a couple of ads on the front page to make a little extra. The ads will help, because no sponsor wants to work with you upfront unless you already have an established user base. Just like any website, you have to get the users first, before you can get the money.

That's how I see it.

EDIT: I also reserve the right to edit my post when I wake up a little more.

I don't care what your logic is.... they're basically taking short term loans payingalmost  9% interest daily, it's not feasible to do that.

Ok, I see this is a losing battle with you... Proof provided, proof of concept given, and explanation of how it could be possible given. It is a small term loan, that pay's back interest. It's possible they will fold. But as of right now, it works, and it's paying back money.

As of right now it is, but will it continue?  With someone paying interest this high it has to collapse at some point.

We hope to continue this service long term, but you are right. Eventually when the new generation of BitCoin slows to a trickle, or the mining difficulty becomes too high, we will not be able to make such payouts. Rather than 'collapse' payouts will just get so small they will become insignificant and we will discontinue our services.

Sorry - site screams scam to me.

Having a gpu farm myself, I'm not buying the system specs and the ability 'rent daily' - if you're able to rent that equipment daily then you'd simply be better off using it to mine yourself.

Nice try - but buyer beware.

We will not try to convenience you otherwise, because we know nothing will change your mindset at this point, and respect that.

There are:
1) Those who think our service is a scam
or
2) Those who use our service and earn extra BitCoin



Well, that is the ultimate goal.
Imagine an apartment complex with 5 living quarters. You are renting out 4 spots and live in the last. You have the 4 other pay for the mortgage and you live there free. Once they have paid for the mortgage, you own the entire place, never paying a dime.

We do however, get a great sense of pride by helping the BitCoin community by providing a service for those who can't mine or don't know how. So it is 'true' we could be better off "keeping it all to ourselves", but why the greed?

Pretty much this is how it would come to pass.  You buy a house, but rent out 80% of it to pay the mortgage and get a little extra (if you can convince people it's worth it).  Over time the house is paid for, you have equity, and you could reinvest.

These people could, over time, build more rigs as they build equity.  Those that 'invest'  get a 9% return, and when no-one is invested, they mine coins for themselves. They're dealing with all the hardware issues, any downtime, and will have a pool in case of severe downtime to pay off those who have invested at a small loss to the website.   

It's a pretty smart idea.  Obviously only invest in as much as you can afford to lose, just in case.

 :)

Those who think we are going continue this service "long term" are insane. That is impossible. Payouts vary too, we don't always pay the same amount!

We have raised over 1,450 BitCoin on and off the website to raise funds for mining equipment! Guess how much we have put into it: 0.00    We would consider this a huge success.

We are approaching the point where we have so much seed investment that we can purchase "endless fields, Neo. Endless fields" of mining equipment - not a single Satoshi paid by us.


So far with what we have sold in premier memberships we could purchase 3x BitForce 50GH/s Butterfly Labs miners. Not bad. But most we actually just give back with awards and bonuses and are continuing to do so to those who were with us in the beginning.

Sounds legit to me im in

 didn't think that would be a problem. They have paid me out everytime I've sent bitcoins. I'm not sure what kind of proof I could give on it.

the only ones which are saying its legit are all new here

sounds like a big huge scam

I don't think it's a scam. Their business model is different then most others. The idea behind it is solid, and makes sense if you look far enough into it. But you have to take into consideration EVERYTHING they are doing for money, not just the "loan me X and I'll give you Y" part. They are making money. No doubt about it.

They are new, and their website is pretty... basic. (At least it's not a 1990's design with a ton of gif's and moving background... Be thankful you're young.)

I think you should try it. Or not. It's all up to your personal "Acceptable Loss" threshold. I personally consider it like playing dice. I put in 0.25 BTC's, and win everytime. It's possible that they could close shop and I'll loose the next round. But as long as I don't have hundreds of BTC's in at one time, I still think I'll be ahead IF it does happen.

There are many others who claim they have received payouts. I personally have received many of them. I've also provided proof of them. The people who claim they have never received anything, have been unable to provide a single shred of evidence showing they even tried the service. No Blockchain info, nothing.

If you notice, no one on these forums (or anywhere) has came on here saying "I didn't get a payout!!!" - because everyone has.

One of our premier users, "Jimmy", just donated (in a very unique way) a lot of BitCoins which we are going to just be giving away back to our users. Anyone who recently purchased a mining service you can expect some extra BitCoins with your payout!

Can I have one of those x34's I saw you giving out recently? I wouldn't mind getting an extra 34 times my 0.25 payout I'm due in a few days... 

Hey Blue get this:

One of our users (19Wfxxxxxxxxxxxxxxxxxxxxxxxx) wanted us to 'gamble' his payouts on Satoshi Dice for him and keep the winnings. Odd request, but we did it. Checked with our legal team, and they said there was no problems granting this wish. Please note that only this specific user wanted his payouts gambled as a donation, and no other payouts or purchases are touched. If we wanted to 'hide' this we could have easily done so.

http://www.MiningUnited.com/donation.png

We won 160.17 BitCoin with his payouts he wanted us to send to Satoshi Dice to gamble as a donation. Guess what? We are going to be giving all that back to our users in bonuses.

What's your address, heck ill just toss you 0.25 right now.

Thanks!

Lol! That's Awesome! PM sent.

That must have been a hell of a roll. Never played the Dice game. Might have to start. Actually, just started the SealswithClubs poker room. So far so good. Very unfinished, but looks like a good work in progress.

http://blockexplorer.com/t/AHD3k9itvq (http://blockexplorer.com/t/AHD3k9itvq)

Sent you 0.25, confirmed.

This recent burst of MiningUnited advertisements is suspicious.

 :D

A business that is doing well is suspicious hmmmm

I wonder, is anything legit in the BitCoin world? Seriously. Every single website you can look up and some people will say its a scam.

Making money for doing nothing is always suspicious.

1hhntJXUSWrLxDb2zfeFoqucBEGyqcW6E    ;D

Looks interesting. However, I'll be honest with you if a system could pay you back 10% or more with just signing up after a few days of work everybody would do it. I believe that is a scam regardless of how much proof you give, unless you want to lend me .05btc to try it out:). In that case pm me and I'll try it out and report if it was a scam or not more me.

Because everyone is going to believe YOU over the 30+ others who have claimed that it wasn't a scam. Bottom line is different people have different risk levels they are comfortable with. Some people throw money around with no regard, some people won't part with any unless it's going to Amazon.com and they have the CEO's personal SSN, DOB, Cell Phone number, and nudie pic's for blackmail.

If you're comfortable with the possibility of loosing 0.05 BTC's, try it and see if it works for you. If 0.05 BTC's is going to break the bank for you, then keep mining yourself.

Proof that this is a scam.  First off, there is no mention anywhere on the site of mining capabilities of there servers other than the fact that they have "several" 12*7970 servers.  We’ll say for arguments sake that they can somehow pull out 750MH/s per card which yields about 10GH/s (yeah I’m really giving them some leeway here).  “Several” mining rigs corresponds to 2-3 usually but I’ll give them the benefit of the doubt here and say 5.  This yields a total mining capability of 50 GH/s.  This can mine 2.5 BTC per 24 hour window.  However, it must be noted that the power costs are through the roof for 60 7970 which costs about.  Each of the cards pull 250-300W which gives power usages per day of 18KWh which reduces margins to about 2BTC per day (again giving them some leeway on electric cost).  Then I went through and calculated the payouts of a single day 5/9 investment 5/10 payout, and they equaled 7.8 BTC.  Anyone is free to do this obviously it is listed on their website unless it changes.  Additionally, there are payouts unable to be added together that were “bonuses” because they lack a date in the data.  Even if they have 15 rigs going, they still wouldn’t be breaking even.  Granted they do have the income from people investing, this is just used to give profits to the people investing, eventually the scheme will fail and everyone will lose their investments.  For people who have difficulty spotting scams, this is most definitely one. 

P.S. When websites are sketchy and there is a low population using the server, no one is going to use their real first name on the account.  Keith, Kate, and Tom are all made up names and the quotes to go with them (on the home page of the site).

Even if people get returns back, that doesn't prove that it's not a scam.  Ponzi schemes will also give you returns...until you're the last person in and all the money has dried up.

How does this fit into your 'Ponzi Scheme' claim:

We are not taking new purchases until we payout current users!

MiningUnited.com is not a Ponzi Scheme. Mining United does not need new purchases to payout prior ones.

Where did I say it was a Ponzi scheme?  I simply mentioned Ponzi scheme as an example of a scam that gives returns for awhile, there are other types of scams that will do the same.

And stopping new purchases doesn't prove anything in terms of whether or not it's a Ponzi scheme.  For all we know, you're stopping new purchases because you've reached the point where you can no longer support a Ponzi scheme.  Again, not necessarily stating that this is a Ponzi scheme, just pointing out that you haven't said anything that would be inconsistent with one.

MiningUnited is a SCAM!

READ THIS THREAD: https://bitcointalk.org/index.php?topic=204182.0 (https://bitcointalk.org/index.php?topic=204182.0)

Getting a payout does not mean they are not a scam, you're an idiot.

Anyone who gets scammed by Mining United needs to lose all their BitCoins, it is the only way people will learn to use their brain. This scam will pass and another will rise.

It is amazing how so many people trust random people over the Internet they know nothing about. They have much to learn about the real world.

I noticed that when they updated the site, they didn't provide links just put "paid..."  If you look at the queue, the weekend promo brought in tons of .50 package purchases, a couple of them are 40x=$2000+. There must be tens of thousands of dollars worth of btc in the queue. I think the next week will be very interesting. My guess is we are in the end-game.

I like this idea I might look into this in the future.

I'm one of those people that put in a large order. My advice is for everyone to wait off giving them any money until these 'promo' offers get paid. If they don't get paid, well you have your answer right there.

If I do get paid, my next order modifier will be 3 digits instead of 2.

Is this actually profitable?

I'll tell you in a few days. If it's not a scam then yeah it's pretty profitable. I won't know until I get paid. I will post on all the miningunited threads any updates.

The numbers are there. Legit.

no not legit

miner 2584
wallet id 184hrB9GNJpQaLr5yqwxyZAjZWtB3t88Ek

mymining page says it paid but blockchain and my wallet prove its not paid,..check for yourself he is doing selective non payments on higher value orders.. a precursor to the ponzi collapse...

buyer beware

Closed?

Not decided yet...

feels like a scam

Yep it has gone now!

Andy B

It was clearly a scam and I'd say your reputation is SHOT (regardless of your benefit from the site).  You might as well resign from this board.  I'm shocked that the moderators haven't banned you by now.