Bitcoin Forum

Hi all,


Does anybody have any experience with  NanoHas (https://www.nanohash.net)? The site looks good and it's easy to get started, but I am wondering it's legit for using it as cloud mining service.

Regards,

Jorrit

I do not have any experience with nanohash.net, but I definitely don't want any either!
I'll explain why I think this is a scam here:

The site might look good, but its flashing advertisements should already ring some bells... And then looking at the enormous ROI you are promised.. 5531.80% per year? So you would multiply your money by 55x every year?
Where do you think is this money coming from? If you invest $1000, they would have paid you $55,000 back after a year... You think anyone would possibly do that? Why wouldn't they keep the profits for themselves and just payback 2 or 3 times the money?

Now let's look at the "about us" tab... They state that they are mining the Scrypt algorithm to make you as much bitcoin as possible... So what's wrong about that? Bitcoin is mainly mined with SHA-256! It's nonsense to mine Bitcoin with Scrypt.
So they might've meant they would mine alt-coins with Scrypt and convert them to Bitcoins, which is very unlikely, but a possibility we can't exclude.
That would mean they are mining a certain altcoin which pays so much?
Only if they switched to Altcoins just before they get pumped, this might be possible, but that's just completely unlogical to assume, as I doubt they would mine the altcoins then.. They would just buy&sell them, which would be way easier and way more profitable.

And what about the maintenance costs? I mean... Electricity... Salary of the people who work there... Repairing broken miners.. ETC! It's all costs which they don't charge you and that is very doubtful.
If you really want to invest in cloud mining, I would suggest nicehash.com or a similar Cloud Mining website, but definitely not these kinds of things...

If you ever wonder again if something is legit or not, please just think about it... Would any legit company possibly offer 5500% profit?
Answer: NOPE!

PS: Also please do not post referal links. I noticed your Tag... Please just don't do referal links in posts. You can have them in your signature, but it's considered SPAM if you put them in your posts.

Regards,
Trump

This seems off-topic for Dev and Tech, so you might move it. Likewise, adding a referral link to the post makes one question if you really care about the answering aren't just referral link spamming.

Finally, a simple google search shows:
https://bitcointalk.org/index.php?topic=1726695.0

Hi Trump,

Thanks for the explanation. Much appreciated.

Regards,

Jorrit

PS

I updated the link