Bitcoin Forum

Dear Bitcoin community,

We just opened our new mine yesterday on Bitcoin pizza day.

We've been going a while since October 2013 with over 252u’s of rack space we have the largest dedicated mining facility in the UK we allow customers to come and visit us. From only £25 per ‘u’ per month it’s also great value, electricity at cost price 18p per Kwh (the UK average). High power density (96 amps at 230v per cabinet) which is needed for mining hardware and generally isn’t available elsewhere, raised access floor, contained cold aisle with powerful cooling and 24/7 security systems. Extensive internal physical barriers, man trap, CCTV and 24/7 remotely monitored alarms, Perimeter fencing monitored by a security company which is locked at night. Backup internet connections and cat5e cabling which we make ourselves for each cabinet it’s a pain but necessary!

Our current introductory offer is £25 per ‘u’ per month pre paid for 6 months.

Hope you think it looks cool miners support the whole system, happy mining everyone.

http://cdn.shopify.com/s/files/1/0306/3181/files/panorama_large.jpg?981
http://cdn.shopify.com/s/files/1/0306/3181/files/20140522_211602_large.jpg?982
http://cdn.shopify.com/s/files/1/0306/3181/files/man_trap_large.jpg?983

www.groupbitcoin.com (http://www.groupbitcoin.com)

Just so its clear for my addled old brain. :)

Could you give an idea how much it would cost to host a Spondoolies-tech SP10?

Thats: 1.25U @ 1350W

Including all relevant taxes etc.

Thanks

Hello There,

1.25u we could do for £25 per month for the rack space, covers cooling, internet and general costs.

The Electricity is 18p per Kwh the UK average. This would work out to £5.83 per day, £177.32 per month.

These prices would be pre paid for 6 months.

Regards,

Oof! nearly $300 pcm

You should be able to get better electric rates than that, you can get 9.96p per Kwh from Opus

Please do not buy anything from 'cryptocompanies' that do not offer payments in cryptocurrencies.

That isn't the case. We use Bitpay. We accept Bitcoin... Possibly posted on the wrong topic ?

so if i were to buy gh grom you in the form of cloud mining would all the btc produced by that gh come to me or would fees be taken out of it?

Full details of the Cloud Mining - https://bitcointalk.org/index.php?topic=641168.msg7157532#msg7157532

Possibly I didn't notice that. I'm terribly SORRY! It's my (awful) mistake.
Best!

ok, so after i pay more for mining than at other places you then take some more out every month to pay a totally bogus electricity price but other obscure prices also?? i will pass

'obscure'.... £0.18 per Kwh (The UK average) + £25 per U per month total cost is incredibly cheap hosting in the UK and far cheaper compared with similar Data center colocation deals.

I can say with complete and utter certainty if some 'Other Place'? is charging less than £1.67 per GH/s at the moment 08/06/14 with no running costs or further costs ever being deducted for a cloud mining service to run hardware indefinitely they are not running hardware. This is not opinion it's fact.

I would suggest researching things before posting sweeping statements on forums about a service and or market you clearly do not fully understand.

Where abouts are you located?

agreed I would be interested to come visit. There are quite a few red flags on the site...

I am 99.9% sure this is a scam.

The Mine is in the UK near London the address is private for security but Pre paid Colocation customers can come and visit and members with over 1TH/s on cloud mining can too.

Just to say I was asked by some members (including OP) about red flags.

Well firstly (1) the fact that you say you welcome visitors but don't give an address and now say ''near London'', that's not particularly transparent and is the first red flag when we've seen so many dodgy cloud mining scams. Frankly I would be willing to come visit to verify for the community as I'm sure would many people. In fact I'm in London on Saturday... It shouldn't be just for huge customers.

(2) In addition your affiliate scheme has ponzi elements to it. The % rates of the affiliate scheme are very good and in my honest opinion seem too high to be legitimate. A 5% margin in a cloud mining operation is a huge amount to lose to affiliates and either suggests the value you're providing for potential clients is not particularly competitive or alternatively that you're not legitimate. Additionally the fact that you offer effectively a 50% discount to affiliates on cloud mining i.e. spending affiliate money on products again has a lot in common with normal ponzi schemes.

(3) I checked out your company registration. The results given were as follows...

Name & Registered Office:
GB WORLD LTD
145-157 ST JOHN STREET
LONDON
ENGLAND
EC1V 4PW
Company No. 08826900

So it appears on first glance that you do have a legitimate address, but then I googled the address and came up with http://www.londonpresence.com/mail-forwarding/ and on their contact page it has the same address, which suggests your company is registered with a fake address. If you were a legitimate business then you would register at your own address surely? Indeed the same address has been used for illegitimate purposes in the past as can be seen here http://www.scamwarners.com/forum/viewtopic.php?f=34&t=18848

I'm not making any accusations but the more time I spend looking (briefly) at your company, the more sceptical I have become and the more flags appear.

Thanks for telling us what these 'red flags' are. Yes lots of Cloud Mining companies are fraudulent but If you take some time to research our business you can clearly see we're not.

Firstly we started last year, we have a few hundred happy customers in 68 countries that trust us with their investments, from their own hardware to cloud mining contracts. We would never let anyone anywhere near their hardware or our mine that wasn't directly involved, an existing loyal customer with 2 forms of government issued ID.

As I'm sure you know mining hardware is valuable, only allowing loyal customers to come and visit adds another level of security to our business as people are less likely to jeopardize their own interests.

Secondly almost every company involved in Bitcoin and the Internet for that matter offers some kind of affiliate program from cex.io to gambling sites this does not imply a Ponzi scheme by any means and this is the first time I've heard that. We would rather give customers the money we have to spend on things like Google Adwords. 5% is based upon average conversion rates from the equivalent advertising spend.

The formations company we used for our Ltd Company uses that address, you will see this address for hundreds of companies in the UK including Cloud Hashing.

We wouldn't use our mine address for the Ltd company as we want to keep the location of the mine private, as mentioned.

These red flags are a complete non issue in our opinion. Compared to companies with no pictures, no phone number, company details, terms of service and contracts that clearly don't cover the costs of the electricity alone for the duration of the contract.

Regards,

For more information please read our 'about' page - http://www.groupbitcoin.com/pages/about-us

Well the community can make their mind up based on what I've posted but its a scam. I'm now 99.9% on that, which is a shame. You're PM to me saying that I'm not a well known member of the community holds no water. I'm just posting the cold hard facts. You might find some people stupid enough to piss their money down the drain but that won't be me. You haven't refuted any of the 3 points I've posted, the thought that I'd come to visit and "sabotage" your operations is frankly hilarious.

No, the thought that you'd come to visit and "sabotage" our operation may be hilarious to you, but to our customers it's not funny in the slightest.

This was our PM we sent you: ''Hello there,

I've replied in public as I don't want your concerns to be seen to be ignored. I don't consider these to be serious red flags.

Our business is legit, If you were a more important member on this forum I might consider letting you visit our mine as you're a junior member you could be anyone, a competitor for all we know.

Regards Justin,''


Seeing as you clearly can't understand the explanation in the above post clearly "refuting" your 3 points let me repeat myself.

1. We take security of our mine very seriously. (This is no joke to us). Think about is this way... if you had tens of thousands of pounds worth of mining equipment (some of which is not yours) would you let any stranger you met on a public forum come poking around?!? I THINK NOT! ...well you might be that stupid I do not know. Our customers trust us. Not you. Who are you? We don't know you so you are not invited. Deal with it. Security is one our top priorities and our customers respect us for that. If you believe us being concerned about security makes us a scam... welll... I don't even know what to say.

We have had numerous customers come and visit us and we welcome our customers with open arms every time.

2. "your affiliate scheme has ponzi elements to it" I beg you please expand on this random conclusion you seem to have picked out of thin air? How in the world does an affiliate scheme offering 5% compare in any way to a ponzi scheme? If you're as wise as you seem to believe you are you just labelled the whole affiliate marketing industry as one big scam? Well done.  And your throw away comment about "A 5% margin in a cloud mining operation is a huge amount to lose" just shows how much you know. How do you know how tight our margins are? Oh right you seem to know EVERYTHING.

3. That address is our registered company address. Our postal address. It is a virtual address. When setting up Group Bitcoin we did not have a business address and our formation company offered this option. Cloud Hashing use the same virtual office address (along with thousands of other businesses) does this make them a scam? We keep that address for mail forwarding purposes.

I am sorry if this response comes across as rude, but being called a scam when we have put in endless days, nights, weeks and months of hard tiresome work to bring a service to UK customers which did not exist before us is simply heartbreaking.

We understand the bitcoin industry is rife with scams left right and centre but we have tried our best to be as honest and transparent with everyone. You only have to look around to see why our customers trust us above our competitors. I mean you try and go visit PBmining even as a customer? Try and find pictures of their mine?

At the end of the day coming to the conclusion that we are a scam based on your points above is hilarious (in a non-funny way)

In reply to your big red addition to your previous post:

WE ARE 100% SURE YOU ARE A TROLL!

Who have we scammed? You're not a customer you have nothing to do with our service, what evidence are you basing your bold statement on? We've been going since last year with a few hundred happy customers worldwide and not a single bad review?

You Sir are a troll.

I'll put money with a trusted escrow. If I come and you're legit the escrow has to spend my money on GHs from your company i.e. I become your customer and additionally I verify to the community with genuine photos. If you don't allow me to come, the result is obvious. :) Ball's in your court.

This sounds like a fair and interesting deal. We will even cover the escrow fees  ;) Sending you a PM.

Ok,  well there are a group of us have heard nothing from Group Bitcoin for  four weeks,  all numbers go straight to voice mail,  no emails get answered.  Yes we  went to open day but were the only people there,  only three miners in the racks.
They do not seem to be there.  We have to do something  , about this tomorrow.  They always  used to get back to you,  the same day. Now nearly four weeks,  some of us not had returns to wallet for June,  were getting them since before Xmas ok. Some of us had mining due to start before June,  did not start.  We met these guys they seemed so honest.  Do not know yet what has happened. :-\

Hello there,

I think we've replied to you in anther thread and your emails, please give us a call tomorrow if you have any questions.

Why are you not taking a loan and fill up the space with cheap bitfurys. actually its not looking big. how much space do you have?

Hello
i order 2000GH/s , mining starts on 20th september
after 5 days payment status switched from pending to paid
so i write them again to ad my bitcoin adress
on 8.8 , 12.8 , 13.8 , 15.8 , 17.8 but no answer till now
i also tried many times to call them but only mailbox every time
so i will see what happen i 4 weeks but i can´t get i touch with them over 2 weeks

Hello,  I've just had a quick search of the mailbox and don't seem to have any emails from someone like what you are talking about please pm with your name so we can get it sorted. Thanks.

how much is the price for hosting 1 s3?

Same here, ive been trying to contact them for a week now, 30 missed calls 10 emails and 2 support messages left still no reply on top of that my mining status has been paid and i still cant view my stats page and i think that it isn't mining at all what a ripoff


pranay16@ymail.com
Pranay Yadav

In their defence, although things may have changed since this reply from a different thread : https://bitcointalk.org/index.php?topic=622986.msg8401127#msg8401127


I think it would be fair to say "Customer Service" isn't their strongest point but it does seem as though they've been swamped with orders over the last month or so ...

i read this post but i cant even see my stats page it says you dont have permission to see this! and as for the customer service i have not heard from them since i got the confirmation for making my account!!

meh, well you're not missing anything at the moment because the "general" Stats page hasn't been updated for the last couple of weeks or so.   When and if it gets converted into a "Customer Specific" page is anybody's guess ... GroupBitcoin would need to come and update us with the progress of that ...

aah cool, still the investment is going to waste till the time they actually start mining, so im probably already down some money

We had customer specific stats on the last site the blue one, it was built on Joomla so there was a lot more customization possible but with the sheer amount of 1-5GH/s orders we've had recently, we had to switch back to Shopify as it's got a far better customer database which is easier to manage. We've tried to build everything as cheap as possible so we can offer a lower cost per GH/s at the end of the day it's about ROI we'd rather sell a GH/s 10p cheaper than pay developers to work on the Joomla site to customize virtumart. We're now doing each U of rack space for £15 which is insanely cheap to try and make it more profitable for everyone we can't control the market but we'll do everything we can to lower the cost per GH/s and running costs.

 


Ah, well perhaps it could be worthwhile setting a minimum number of GH/s per order ? It's something I see other Cloud Miners operate, probably save you time and effort in the long run I reckon :)

Only a suggestion by the way  :P

I'm surprised there are people who buy in for only 1 GH/s or 2 GH/s  ... blimey  ::)


Thank you ... Yayyy  ;D