"GB" is short for GainBitcoin, a company which has difficulty with maths when selling cloud mining contracts, as I point out here.

Their use of MLM to sell contracts is reminiscent of BitClub Network, from whom they steal layout, text and approach and now further copy with their own pool.
They may or may not mine themselves in China with some S9's.
The are owned by "Mark Lee" from Singapore who has had various Bitcoin enterprises in India and a long term relationship (if they are not the same person) with Amit Bhardwaj/Kumar, of late unlamented HighKart fame.
 

I think that means you think that cloudmining is not profitable and probably a scam, but it's ok to sell it to other people to collect referral commission?
Nice.

As this newbie appears to only have joined BCT to push GBminers, I trust you have mechanisms in place to prevent promotional spam?

WTF are you talking about?
Hashocean is a collapsed ponzi.

That won't be of any use really.
A slow burning Ponzi (it has no form of income apart from new investors money) like this, paying <1% daily, can last up to a couple of years.
From now onwards it's downhill, then bye bye if they get lucky with a big deposit.

Very true, but there's still 1000's of punters locked into contracts, the only escape being if BCN decide to bin them.
Then there's the going nowhere Clubcoin PoS and, of course, the Coinpay platform that's going to take over the world. Sometime soon^tm .

As time goes by and BitClub Network becomes yesterday's news for the MLM pumpers, my suspicion that the operation was only ever a Genesis Mining reseller becomes almost a certainty.

Building on this


Genesis get lots of stick on here about declining payments and Bitclub's ROI also just stretches further and further, as evidenced by users



To add further

Genesis has a contract cancellation clause allowing termination if maintenance charge exceeds mining income.
BitClub Network are more basic, they just cancel oversold contracts.
 
Then of course, there's Ethereum mining, started by Genesis at the end of 2015 and, three months later, BitClub offering ETH packages with MLM attached.

And further then, there's the Curious Case of the Super Arbitrage Bot. This of course was openly sold (not sold in the end) as an official BitClub Network/Genesis Mining joint venture, as explained above. Something happened. All of a sudden bullshit excuses from BCN about them being TOO big to operate it properly or smth. Whether or not Genesis are still using this bot on their own account, supposedly have been for three years, is something only they can answer. GLWT.

And the latest coincidence/evidence that BCN are just a Genesis reseller is ZCash mining, Genesis' latest baby. Right up behind them come Bitclub, Zcash mining




"What does it matter," you ask?
"Obviously makes your view that Bitclub are unsustainable look unlikely. If they're "backed" by Genesis, the biggest cloudminer in the world according to themselves, my money should be safe amirite?"

Well no, not really.
Firstly there's no guarantee that Genesis are bomb or market proof. In a mining arms race like we have now, only the biggest will survive and it's unlikely Genesis qualify there. Although if they are using Bitfury gear, their belated announcement that they're finally gearing up with 16nm will at least make Weeks' claims come true, albeit over six months too late.
If Genesis are paying dust to direct contract holders, what chance do investors in a reseller have of making any money, especially when the sales force of that reseller are hiving off probably a third of all new money for themselves, as "commission"?

And what a temptation it must be to keep selling and selling, irrespective if there's nothing profitable left to sell?
That what they do, welcome to MLM.

An excellent example of

Poor reporting
Scaremongering
Ignorance





http://www.bbc.co.uk/news/uk-northern-ireland-37660657

It's a made up name for the stuff that gets dumped in this trashcan sub forum after the gambling lobby got pissed with these scams turning up on the main Gambling board.

You think?
 

So you don't think that verification of your own claims as to the provenance of the sole named member of your dev team are relevant to the credibility of the currency?

How about answering the simple questions I have now asked twice, based on your website

I agree that it all sounds very marvelous, but being a practical sort of guy I wonder if you would mind answering these couple of boring questions I asked earlier on the thread. It has been known (shock horror) for alt coin devs to not be entirely what they say they are.
It seems to me that Allen Pulsifer is in his 70's, according to the never wrong Interwebs.
It's great that a septuagenarian would be involved in cutting edge crypto stuff and I take my hat off.
If it is him.

The Bitex?...

One of Mark Lee's many VariableTech sites, run in India by RADOX, directors Bhardwaj/Kumar (please someone explain this dual identity deal).

All came about mid 2015, Bitex doesn't appear to be active, no turnover listed on Coinmarketcap. The only sign of activity is the BTC/INR ticker appears to update periodically and a chart with some meaningless wide spread "orders".
It naturally links to Gain.
 
It's difficult to estimate the ins and outs of Bhardwaj/Lee's various schemes financially, all I think is that the various facts and figures in this thread show quite clearly that he/they are definitely not to be trusted in any way.

Are you under the delusion that you're some sort of fucking gangster?

I point out that your employer friend Bhardwaj produces websites where the Universal Laws of Mathematics do not apply, as anyone can see, and what do I get threatened by?

First a lawyer who doesn't know law, then some chode with a Big Man complex..... 


And take those silly fucking sunglasses off indoors

They make you look like a bhadhava.......A Bhardwaj bhadhava, got a certain ring to it.

You guys crack me up.

Along with your continual ninja editing (how many times are you going to change the name of this thread?) you say that first of all you are a
"cloud mining aggregator"
Then, oh, but it's only a
"game, a simulation"

but that you have
"Bitfury mining power in sic rent"

but you still claim a 110% ROI, impossible with your "portfolio", or is that not really a portfolio
then you claim ROI is much higher, but you are
"a kind of bitcoin faucet".

I'm sure you're all reeeeally clever guys, having great fun with your little in-jokes, but all you are doing in real life is what all scammers do: deliberately misleading people and obfuscating the source of income, to take money while attempting to avoid any responsibility.

Of course there's an admin, where do you think all those upline payments end up? With the admin who created the scheme and are the top of the pyramid i.e. Mr. Jordaan, ex MMM pimp.


Pure pyramid scam.

And who the fuck are you, Mr. 18-months-gap-in-posting-probably-bought-account?

How about "$1m minimum investment"?