I prefer the name E-Dinar.
Sounds more scammy.

And if you'd purchased Capri anytime in the first six months of this year, you'd still be bagholding.

Apart from the greed of impossible ROI's at the scam end of the "cloud mining" spectrum, I think it's the dream of "being involved" in mining, being part of the process that is attractive, especially to newbies.
Your model is eminently more realistic and logical, but lacks that aspect.

Yes, the other Hero on that flyer, Kartike Kanwar, is a serial MLM promoter who has apparently become a "Cryptocurrency Expert" over the last year or so, like so many of these "Life Changing Opportunity" sleazebags.

His promotional history includes Empower Network and Quanta, pretty much standard MLM "opportunities" where there is a theoretical central product which is being promoted as having value, with a tacked-on a leechlike MLM matrix to extract huge downline commissions, the real reason for the venture.
In the case of Empower, the product was a blog plugin and "personal development & Internet Marketing Training products".
In Quanta something its founder Jim Lutes describes as


 

These leeches are attracted to cryptocurrency because it is a barely understood buzz topic amongst the general public, where they can pretend to be experts educating investors suckers in the simple art of Becoming Rich.

The promotional material for these schemes is littered with meaningless aspirational memes and precious little hard fact.
Events such as that listed above are just Rah Rah hard sell promos which will say nothing about the product, but everything about the commissions for affiliates.
In no Powerhashing promotion is any detail given about their mining operation. The monthly rewards they infer will be achieved for the next 25 months are barely achievable in theory now with sub 16nm gear, even without the huge financial drain of the Matrix taken into account.

My concern with these parasites is that for Bitcoin to continue to be adopted and grow, it must have a positive image with the general public.
Fake scams like these will have the opposite effect and if regulatory bodies ever bother to intervene, then it will be Bitcoin that is in the frame, not the MLM system.

That's one way of putting it.

Not that I particularly care, but I can't work out whether you are

a scammer
naive in the extreme
stupid

or a hybrid of the three.
Whichever, any scheme which relies on a continual supply of new punters and their money for survival is doomed, the only question is when.

Multi Level Marketing is enjoying a renaissance courtesy of cryptocurrency, and India seems to be as enthusiastic as anywhere about this concept of "passive income".

When this potent idea, i.e. you pay some money and then, with little effort (apart from selling on this concept to anyone and everyone) the money rolls in and you live Happily Ever After, is allied by the presenters to cryptocurrency, then it all develops another appealing angle,  "the System is Corrupt" etc.etc.
This was also the message with MMM, which also made a lot of converts around the world and resulted in a huge cash gifting scam which is causing a lot of misery, as 'investors' or "providers of help" learn the painful lesson that 2+2=4.

Anyway now the scammer's Flavor of 2016 is perfectly summed up by Powerhashing.com, which I've started writing about here

An MLM structure where money goes to the top, a vaguely described "mining" operation to fund it all and lots of trite Motivational Slogans add up to

A little busy at the moment, don't have "Part 2, Where's the Mining then Abhishek?" quite finished, but here's a link to an MLM investigative resource to further explain the matrix system as used by Powerhashing and several MLM schemes operating in other fields.
http://behindmlm.com/mlm-reviews/advertise-cookies-review-25-month-ponzi-roi-scheme/

As a commenter adequately sums it up

Yobit sponsored bullshit.

If I see you do this again, i.e. encourage ponzi support to earn your sig payments, I'll red trust you.


What a surprise 

Explain clearly what this means.
Nice simple words.

Looking at your posting history, I'd say that this is probably Yobit paid for 2 lines of meaningless sig spam.

If you really believe that OneCoin has any credibility as a cryptocurrency, then you either have done no proper research or suffer from delusion.

Please add Powerhashing.com, 6/7 with backers identifiable, 6.5/8 as they highly suggest an unsustainable ROI will continue for two years..
More about them here.

Ponzis and Pyramid schemes are definitely different things, but they can co-exist in the same scheme.

A Pyramid Scheme (scammers go "rah, rah everything is a pyramid scheme!" Not so, there is a big difference between a Pyramid Scheme and a pyramid structure) is where referral commission money rises to the top of a matrix, with new investors buying in simply to resell positions in further level of the tree, also sometimes believing that the underlying business model will make them money, which it hardly ever does because it is unprofitable or non existent.

A Ponzi Scheme (not a ponzi game which was a poor attempt to convince newbies that they could have a fair gamble on a "last one in loses" basis)is where new investors money is used to pay existing commitments to old investors because the underlying business model is unprofitable or non existent.

Both types, or the hybrid, can exist for a long period of time depending on the greed of the admin, but both ultimately fail because of the need for a continually expanding investor base.

Before we have a look at Powerhashing, a brief explanation of MLM.
MLM is a predatory system of commission payments which is attaching itself to the promotion of crypto schemes.

MLM = multi level marketing.
An American idea, recruit a 'downline' to market a product or service and get paid for it. Time and time again.
The product can suck, not exist or be barely profitable, it doesn't matter. MLM is about selling a dream to the suckers, using lots of motivational type language and as few details as possible about the actual product.
And getting paid thru the matrix. No, not Neo's, a multi level money making machine
like so



There are many different forms of this, add-ons with silly names and quite anal refinements, but they all have the same goal: money rises to the top of the matrix in a pyramid fashion.
Hence Pyramid Scheme.
They are sort of illegal in a lot of countries, but generally don't get too high on policing priorities as investigating is quite labor intensive and the schemes, especially Bitcoin ones, are global.
The rewards for the <1% Inner Circle can be huge, so they have access to lawyers and offshore structures to help prolong the life of these scams, and the arrival of Bitcoin has given them a whole new ball game to play.

But, apart from the admins, everybody else is a sucker



So, there's MLM 101 for you.
Put it together with the core business being "Bitcoin mining" offering impossible ROI and what have you got?

---

Powerhashing.com.

Let's have a look at their website. Registered with that slag Bob Parsons, so no whois details, but we know who they are. (later)

Landing page


and a really impressive shot of server racking (maybe even Bitcoin miners to a newbie)

 

stolen from Nutanix tho



But hey, everyone steals photos of other people's operations right? Means nothing, right?


About us


More on the actual company later, but I've heard that spiel somewhere before.....


and, come to that


BitClub Network....I guess is the MLM/Bitcoin pioneer, and still going, still enriching the Chosen Few...


This pisses me. Crowd funding has nothing to do with MLM. It's a buzzword they latch onto for credibility, nothing else. Legit crowdfunding ventures  (the few that come to anything) will pay benefits back to angels, but do not come with a matrix affiliate system attached.


Yeah, that's what we want. So where is it? What is it? How many Ph/s?
No details there tho, so onto the next page


"Passive income" is an MLM/scammer's favorite buzz phrase, usually accompanied by pics of swimming pools. Just think about it, it's what we all want right? Just sit on our asses and watch the money roll in, looking out over the HashOcean...

But mining, we want to know about the mining!
All we get are more generalities...


Bulk purchases, special relationships, cheap hardware. Sounding goood....
Several farms, sound like they're in Iceland I guess. Sounding greeeat...

But that's it, no details, just a couple of crappy Fiverrrr vids and that's that page done.

Onto
FAQs

Not one Q/A about miners, pools, hashrate, halving effect, nothing, just generic bullshit about accounts.

Next page
CONTACT

Blank enquiry form.
And a map.
A map of 1500 Gateway Blvd #220, Boynton Beach Florida....WTF? I thought Powerhashing was in India???


and the last tab
START MINING TODAY

CREATE YOUR FREE ACCOUNT, START MINING TODAY and a form to fill in, with your sponsor ID already filled in. Who is he and why?

---

So, we've been thru the whole Powerhashing website and no details of anything to do with Bitcoin mining apart from generalizations, very disappointing.
Let's have a quick look at T&C's while we're here

Looks like a standard HYIP? type set of terms, but then we get to


Who?
CRYPTO CURRENCY ARBITRAGE NETWORK....let's Google that.
Top result is moneymakersgroup, the scammers reference site for all things bent, impossible and just plain shit.
CCAN is listed under "Closed, Inactive & Offline HYIPs", some bullshit scam that closed down and the admin ran off after a few months.



What's that got to do with Bitcoin Mining in India?

---

Next installment soon: how much will we earn, how will we earn it, and who are these three sharp dudes?

If you are serious, you are mentally ill.
Powerhashing is a crude MLM scam which I am currently preparing an effort post about.
They give zero information about their mining (because they most likely do none) and the only way to make your money back is thru the affiliate matrix, which involves selling this shit to everyone and anyone stupid/greedy enough to fall for their robot voiced YT vid promising $$$$.

At the moment though, I think you are probably either Kartike Kanwar or an associate trying to be clever and promote this shit obliquely.
Either way, you're getting red trust from me.

This is what he wants to invest your money in.

A friendly warning: slow down on the multiple two line posts every three minutes, or you are going to get your ass kicked out of the Yobit sig campaign.

These figures are grossly exaggerated imo, deliberately so by the scammers, to give the impression that their sites must be legit because so many "investors". And it seems to work.
As discussed here about the supposed 700,000 HashOcean mugs investors was in fact probably a maximum of 320k accounts, many of which would be multiples in the possession of one person, plus an unknown number which would be under control of the scammers themselves in order to bulk out the numbers in the early days.

There is no doubt that a large number of people lost money, but why believe anything which is only sourced from the scammers themselves?

Yes, 99% of the time.
Think about it, if they were a legit cloud miner they wouldn't need to pay for business referrals, they'd have more clients than they could manage for free.

We have a thread which lists seven signs of a likely Ponzi, and referral commission paying is a red flag.
This recent run of scams have all been red flagged there well in advance, but the basic problems with many Bitcoin investors are

1) They feel the burning need to "do something" with their coin.
2) They are naive and inexperienced.
3) And greedy.

Everybody seems to be quoting this figure, presumably just because that's what the counter on the HO site used to say. Is there any other evidence?
Why would you believe anything they said, knowing now that they were lying from Day One about everything else?

Scammers always inflate the popularity of their scams, it makes new suckers feel more comfortable knowing (or thinking they know) that many others are investing. The Sheep Theory.
The scam OneCoin, for example, is saying they have 2 million "investors", whereas the real total is probably not even 25% of that.

Some LAMO pics. There's so many to choose from. These people are literally crazy.






This Juha Parhiala, Numero Uno recruiter of lost souls, supposedly earning $50m a year in matrix payments, explaining how MLM downlines work to an audience of trainee parasites



In October, they will dilute the ponzi points by 97% with the "new Blockchain" of 112 billion tokens. This momentous occasion will be celebrated by the doubling of holdings, which according to OC's figures will cost $5 billion. You literally could not make this up.