and most of that's fake...

You are welcome/have a right to your opinion, humble or otherwise, but you are verging on tendentiousness.

1) The price of Bitcoin, or its volatility, is irrelevant to how much of it can be mined by any given hash power at any given difficulty. Your failure to understand that is unfortunate.
2) 2+2=4. Believing, without any basis, that someone may have found a way to make it 5 is not due diligence or healthy scepticism.
3) Give your money to whomever you wish, on whatever assumption.

Created out of thin air, continually pre mined is a way of describing it, this laughable shit(not even coin)points system is tailor made to exploit greedy, stupid people who somehow believe that magic exists in the form of the meaningless "formula" behind it.
A valueless, useless game of pass the parcel, until you find out there's nothing in it.



The Millionaires Board  

So, the top ten alone own 20 billion euros "worth". Every day, they become a billion euros "richer".
Beyond absurd.

With people increasingly cynical about cloud mining and its legitimacy/profitability, maybe using "Gold/Platinum/Diamond" scammer terminology to describe your contracts isn't the best marketing approach......

 

The "assumptions" you mention were based on industry standard or prices prevailing at the time of calculation.


You can indeed postulate that Gain may have some mystery super mining equipment that gives them an edge over the competiton, despite there being no evidence or even claim of such.


If investment is made in Bitcoin and returns paid in Bitcoin then the dollar exchange rate is irrelevant apart from converting costs incurred in fiat, which is what I used it for.
Bitcoin mined ∝ hashrate, end of story.


At that time, S7's were the most efficient miner available.
Their latter video of the Chinese farm contained clear images of S9's and subsequent calculations were based on Antminer's own specs for that machine.


Electricity costs money, but even using zero as a price the promised return is unattainable.
Gain make no charge for maintenance costs, who pays for that?
Throughout, I have used best possible scenario in Gain's favor for my "assumptions".


What makes a Ponzi is the use of later investors' money to pay promised returns to earlier ones.
If the only real business activity revenue into a scheme falls short of matching existing payment commitments, then every day that goes by increases unserviceable future debt obligations.
Based on these "assumptions", this description matches Gainbitcoin's business model.

I have no personal axe to grind with Mr. Bhardwaj or anyone else, but to lift a whole section from another website and claim it to be an actual representation of one's own business activity, when it emphatically is not, is completely unacceptable when soliciting investment.
The irony of Gain stealing Hashocean's fraudulent lies and claiming them as their own is not lost on me.

---

A refund guarantee is a refund guarantee, full stop.
If their mining is as profitable as they say, the only reason not to refund is because they have no money to do so. Where is it?


This is why MLM is so toxic for those who in invest in the core business, as opposed to those who treat that as simply "key" money to unlock entry to the commission aspect and make more money selling the concept than the concept itself makes.

Good post, look forward to the follow up.

If you are referring to me as a troll for asking for details of the dev whose name you put in the public space, then I take exception to that.



I have been the epitome of politeness in trying to ascertain the CV of your dev.
Impoliteness can certainly be arranged, but so far it has emanated from you in your refusal to engage or answer simple questions.

You have provided no concrete information about this project, apart from "we may" do this, or "we may" do that.
Your behavior is strange to say the least; what it does show to me is, that if you are legit, you have little understanding of the environment in which you are operating.
Self moderated non-information threads with joke, time limited and censored QA sessions are not a sign of trustworthiness, especially when you have made no effort to engage in any dialogue in a free thread, and I have given you a trust rating to reflect that.

If you look back thru the thread and the numerous warnings against giving these people any money, then yes, it does seem normal.

lol, totally legit. 

It sounds like pseudo compliance with Clause 4 of the new MLM Direct Selling Guidelines 2016.

Unfortunately, these are only guidelines with no regulatory powers to back them up.
MLM scammers know this.

Thanks.
How many Gh/s do you get for 0.1BTC?
What does the refund policy say?

Please point out the errors I have made.


Is this what you mean by an error? As I said, I refer to their own website for information.
Also as I said, sometimes affiliate members of schemes will offer lower entry point investment, but this can involve you dealing with someone other than the people you thought you were.


That comment shows an incomplete understanding of how Ponzi schemes work.
Some payments being made on time do not indicate that all payments will be made.
When the source of income does not equal the promised returns, something has to give. That will be you.
Ten months of full payments will need to be made before you get your original investment back, eleven before you move into profit.
Has someone shown you proof of eleven months of correct payments received from Gain?
That's proof as in txts and proof of original stake? (A. No.)


I heard about the wallets, read the reviews, read that some affiliates are insisting that payments can only be made through them alone. Why would that be?
I haven't seen any refund policies on their website.

What I have seen on their website is their "calculator". If you enter 1BTC, the price of a 1.5 Th/s Basic Plan, it says

If you put 1.5 Th/s in an independent calculator, you get

( Annually 0.430134 BTC)

Unless you can point out in those calculations one of the errors you say I have made, I can only suggest that greed has intoxicated you and you have contracted the FOMO virus.
Symptoms include denial of logic, irrational decisions and dreams of wealth, leading to Stockholm Syndrome, then poverty and anger.


None taken.

 

Lol, what a surprise.
S.O.P. in the MLM world, "Oh no, it didn't really happen like that last time I was caught neck deep in a scam, it's all hater lies." 

The tiresome low quality shilling of the shitcoin continues all over the forum.
Another completely fake "news" item thread prompted me to waste 5 minutes of my life and watch a YT vid of some NLP headcase indoctrinating the troops.

Excellent example of Leo buLLshit, iLLiterate copypasting of pseudo spiritual shit by some kiddie shiLL.

This is what this shitcoin is all about, kiddie shills and fat guys in suits making cult hand signs, wearing cult badges before a NLP indoctrination session



And if you're really good at selling shit MLM product to noobs, you get to go to Scammer Central with your cult buddies

What, you mean illiterate spam, fake news  and meaningless polls?

I started this thread based on the information provided on the public face of Gain i.e. their website Gainbitcoin.com.
This info and this website have proved to be misleading, downright false and more typical in mathematics of a standard R*ssian HYIP than a legitimate business.
On the website, a starter pack Basic Plan investment is 1BTC.


No.
My personal view of mining bitcoin is that it's marginally profitable at best and then only for the largest operations directly. With cloudmining you then add in a layer of obfuscation and (deliberately) misleading projected returns and often a highly expensive MLM sales structure: it becomes untenable from a risk/reward pov.
Having said that, and emphasising that I don't recommend investing in this area, have a look at Eric Mu's attempt at a transparent operation here.

In the bigger picture, the concept of "growing" your BTC is being pushed hard by people whose interests are primarily to get their hands on your money.
The idea that Bitcoin is a self contained environment in which the man in the street can profitably operate is a false one in my opinion.
If you are in the Bitcoin space then it's a reasonable assumption that you are bullish about its future and therefore its price.
The simple approach for profit is to buy and hold bitcoin, increasing your holding by investing surplus fiat that you generate in real life by whatever your job is.
At the moment it is an interesting investment opportunity to be indulged in with the greatest care, with a potential to grow exponentially as problems are solved and longer term credibility is established.
This is why I spend some time "scam busting". I see the potential for good financially and socially in Bitcoin but every time thieves and liars succeed, its credibility and progress are compromised.
Good luck.

Wasted 8 minutes of my life listening to Andersson rambling on about this on his 2017 Roadmap Youtube vid, the two week old one with all of 50 views.
Anybody in any doubt about how big a joke this shitcoin is, go have a listen. I think he's talking to 5 year olds who never heard of DAO.

For the REAL reason for leocon to exist, look no further than this bunch of trash giving each other medals for hitting MLM targets.
They even got a cute L hand signal, just like Onecoin wth their O..

https://www.youtube.com/watch?v=UJ7JfSO-gxY

So what?
There's big shitcoins and little shitcoins.
What a Brave New World crypto is turning out to be.