Bitcoin Forum

has sold 580+ BTC Mining Contracts

Is this true?

I got this information from the twiter, and I see that there is an ongoing giving away event

https://mobile.twitter.com/GxBlocks/status/1275401352429080577

i thought cloud mining is almost dead. because a lot of users realised that they will not get their investments nor their profit from this type of service. 580+BTC - we are talking millions of US$s here. are there really a lot of people who still trust cloud mining contracts? oh well, lets see how they will work out on this project. can they actually give profits to these investors?

In the past, there was a project involving optimizing mining processes with mining systems inside mobile containers to take advantage of cheap energy sources around the world, its name is Envion, but unfortunately the project has stopped after ICO. Today we meet this idea again at GX Blocks. Hopefully this project will have really effective and feasible solutions to solve the energy problem in mining of POW coins.
ChiNgadOr: wish you success :)

I think they mean: "they have got 580 Bitcoin-mining contracts", rather than having a mining contract worth 580 BTC = $5.8M :)
Currently, as updated at the BXBlocks website: https://gxblocks.com/, they have sold 619 mining contracts :)
https://i.imgur.com/vRahkiX.png

Yes, you are right, that meant GX Blocks sold 580 contracts (at the moment even more to be precise). GX Blocks has been conducting a lot of promotional events so it’s worth following social media pages! The first raffle is going tk happen on Sunday so follow & retweet for your chance to win 🤩

I am looking at your contracts, and I am really wondering why would someone order one of those, when he can simply buy BTC with that cash?

Let's take for example your GX-L Bitcoin Mining Contract (https://gxblocks.net/collections/gx-blocks-contracts/products/gx-l-smart-cloud-computing-contract-sha-256#pre-sale-information), that costs 1000 USD, and in exchange buyer will get 10 TH/s for 4 years. With 1000 USD you can get immediately 0.109 BTC, while with your contract (if difficulty stays the same), buyer would get approximately 0.116 BTC after 4 years, making it potential 0.007 BTC profit, or 6%.
Problem is, in the long run difficulty will go up, as it was all this time. Sure, in the short time some drops are possible, but when we look at the big picture, in a year or two, your mining contract will bring  less BTC than someone would get by simply buying BTC directly, now.

I read that you can't disclose location of your miners, but can you somehow prove that you own those? Like some video with your team members, showing us those mining farms.

renewable energy crypto-mining, don't THOSE projects always go well? :D
im being sarcastic, they fail basically 100% of the time...lol

this pitch as well, sounds like these guys have no idea what they are even talking about...lol
full of spelling errors, and where is this "platform" they supposedly built?    
also: ewww, "private presale"   so the public is just buying coins at an inflated rate cause you promised your angels profit, great :/

whole thing reaks of scam to me honestly....

If they are totally legit, why is it that they can't disclose their location? Having this kind of project using renewable energy sources is a always a good attraction if they are authentic. And what is stopping them to be transparent with their location? Is it because we can always check on google map and see if what they are saying is true or not? We already know about cloud mining contracts, most of them failed to compensate their buyers. So how come they got those mining contracts bought so easily? Are there really many gullible individuals out there to trust them without digging so much?

TBH I can understand the non-disclosure of mining location operations due to security reasons. I remember there was a problem with some crypto farm getting robbed like one or 2 years ago in Poland. From what I remember GX is registered and located in Greece (Athens?) so it's not Seychelles, Marshall Islands or virtual office in Singapore. Greece = EU, EU = follow the rules or deal with big problems (don't tell me about it, I'm from EU, too).

Not a financial advice, of course  ::)

Yep, we've seen so many of those "environment friendly renewable energy" crypto projects, and AFAIK all of them failed (someone correct me if I am wrong). And quite a few proved to be a classic  ponzi-like scams. So no wonder that people are suspicious every time similar project appears.


If they don't want to disclose location, at least they can show the mining farm from inside, show us in some video how all those things works. On their website they said that they already have some mining farms, so showing some proof of that shouldn't be an issue.


Unfortunately, that doesn't  mean much really, as there were failed mining projects registered in other EU countries like Germany for example, and that didn't make them any more legit.  To put it simply, due all those failed and dodgy similar projects in the past, GX Blocks will have to be totally transparent about everything, in order to succeed.

A reason why minning facilities shouldn't be disclosed

https://www.theguardian.com/world/2018/mar/07/hundreds-of-bitcoin-mining-servers-stolen-in-iceland

Team seems legit and unless anything strange happens (ex: regulation with high taxation for renewable sources as the stupid government did in my country) .. everything should be fine. Anyway, as always, everyone should do his own research and decide.

The article is already 2 years old, I hope by now, these mining facilities owners already find a better way in securing their properties. Just wondering if at least one rep from the team can answer some of the questions here directly.

It could be 100 or 1000 years old and the problem will be the same. This is a risk that can be avoided and that is the way team want to do it. I understand your complains anyway,.. I am aware what happened with most of mining companies in the past -rekt-. Despite I am not part of the team or manage whatever in the company, I am very careful which anything that can harms me. From what I have researched this seems a reliable team, otherwise I wouldn't have risked my reputation posting this announcement..You can just wait some months or maybe a year until the company is consolidated if this helps you trust the company and decide later to put some money into it.

You can easily reach them on GX Blocks telegram group: https://t.me/gxblock
Their data and experience can be found in the Pitch Deck. Regarding the security, I'm not sure if there were any significant security discoveries in the last 2 or 3 years... Maybe now people just know how valuable mining rigs are and that not only security but also insurance is crucial.

yes all of that will reduce the risk for gxbloks platform users, besides this project must take strong support and most importantly trust, at the moment I see ico sales in progress, but the target is still far away, not so sure everything will be sold

You are totally right. On Cloud Mining market there was enough bad players in previous years that the trust, transparency and legitimacy are the most important factors for potential platform users (miners). For me - GX Blocks looks fine. Real people behind a business registered in European Union (Greece). Real plan on how to distribute earnings with as low transfer fees as possible. No unnecessary special tokens, payment in cryptocurrency from the top of the market cap. If (like me) you have no place to start your own mining operation - GX is an option worth assessment, isn't it?

🎉🎉🎉We are Celebrating our 1 Year Anniversary!🎊🎊🎊

https://i.imgur.com/NA8zEVz.png (https://t.me/gxblock/2659)


In the last year, GX Blocks Energy has turned from an abstract idea into a fast-growing company that is currently in the middle of its Pre-Sale Contract Offering period!

We are constantly growing and lots of exciting things are coming soon! We are looking forward to many more years to come!

Thank you for believing in us and for trusting GX Blocks Energy!

-The GX Blocks Energy Team

I see another bunch of contrats sold. What's the current total count?

Cloud mining contracts are very hard to sell nowadays but this one seems to defy the odds.
Can they really maintain their business and cater their clients according to their offers?
We will see the turn around at least a couple of years, if they can survive in the market without complaints from the buyers.

Miners are currently not very attractive to the public, I'm not too sure whether investors are interested in joining gx blocks, but I hope the gx blocks project can survive and be unique so that attention remains focused on mining on the gx blocks platform

The market had to survive a lot of mediocre projects concerning mining. Here we have real people in the team, real business running for over a year now, registered in the European Union (Greece) and not somewhere on Seychelles or Cayman Islands. And as we can read in major crypto news sites, mining is getting more and more popular and big companies still see a lot of opportunity in this matter...

Cloud mining is just the tip of the iceberg, if you had joined last AMA you will be aware of all what GX got iin the pipeline (masternodes..).. I think this will be big, otherwise I wouldn't be here losing my time!

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What many of you forgot is that this is about sustainable mining based on renewable sources, which makes a huge difference.. mostly when  hard regulation kicks in due to how serious is getting the issue of global warming. On top of that, mining is sitll a profitable business despite the reward reduction (halving) if you keep an eye on the longterm price of BTC according to its fundamentals.

Get 5% OFF on all GX Bitcoin Mining Contracts until July 26th.

Don't miss it. Get yours before it expires!

We provide the best option in the market!

Request your discount here: https://gxblocks.com
Register your account here: https://gxblocks.net/account/register

https://pbs.twimg.com/profile_banners/1120700257422204931/1595234400/1500x500

Just a hypothetical question here. If this extension period will not give the the soft cap that they are aiming for, what are their plans to raise sufficient funds? Or will it dictate the development's timeline of the project? Raising funds these days is quite tough as a lot of investors/crypto users are still in tight budget because of the uncertainties that most of us are facing owed to the pandemic. Do they have private investors that can suffice their financial requirements in case of financial setback from their gxblocks sale?

Helllo there, team confirmed they will cover the rest amount of GX Contracts with other external injection of funds (C.N., Equity, etc.)

Twitter giveaway ending today! Go go go to place the last follows, likes and retweets of pinned post!

That would mean that no matter team collect soft-cap the project will continue? If I know buy a contract, the mining starts today, or when is the launch date? Thanks!

Yeah, from what team says on Telegram (worth joining, a lot of valuable content there) their farm will operate no matter the sale as there are also other sources of financing on the table.

Also, you can check the latest AMA which happened on July: https://medium.com/@gxblocks/top-questions-answers-from-the-ask-me-anything-telegram-session-8d3fcf76494

Hi, I just wanted to ask you directly what makes you different from other scammers? Every mining company that I know turned into a scam.

On your AMA you said:

This is very poor answer on the most important question.  :D ::)

Looks like the team hasn't answered about your question. You should ask about this with a message to the development team who are here to find out more.

Few replies below they claimed that project will continue even they do not collect enough money, they will continue offering tokens to private investors.

It becomes a natural constraint on an otherwise perfect project to raise funds. But they should have devised a good strategy.

We utilize RES, as well as MMUs & innovative liquid cooling methods, which all help to substantially lower power costs.

Furthermore, we use the most efficient & technologically advanced mining units, further increasing our margin and making Bitcoin Mining even more profitable.

https://i.imgur.com/ujuri7I.jpg

GX Blocks provides to its customers exposure to #Bitcoin, at the most competitive prices, without the technical complexity of purchasing the  cryptocurrency.

Clients avoid the hassle to create online wallets, wire money offshore, and can safely store their BTC.


https://i.imgur.com/P2bxrZH.jpg

Non-anon experienced team, which you can track on LinkedIn (with real accounts, not ghosts). Registration in EU (Greece). Clear pitch deck which answers why and how they are going to profit - these are the points I like in GX Blocks and which are usually missing in some shady projects.

How to receive payment for bounty hunter if no wallet required ?

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#Edit
Edit
the soft cap did not reach ?