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1921  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 20, 2013, 11:49:07 PM
I only found this forum after the damage was done, so I definitely did not promote MU here (or anywhere)--it all went up in smoke way to quickly.  In fact, I wish I'd found this thread before, but you know what they say, if wishes were horses...

The only way to make sure the BTC we lost was not wasted is to learn all we can from the experience, and I hope I have.

But yes, I understand the frustration of feeling as if your warnings are falling on deaf ears and that if only people would listen they wouldn't get hurt.
1922  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 20, 2013, 11:24:12 PM
I don't see that someone who honestly didn't believe MU was a scam and said so was an accessory to the scam.  No one ever has 100% of all the information, and clearly, we've all been on a learning curve about this...  Except of course for Bitpop who knew it all along.

LOL about sending donations to the less fortunate--if you accidentally got an extra refund.  I too would be happy to help you spend it :-)
1923  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 19, 2013, 03:17:27 PM
I like to think I'm smarter than that... but I fell for it too, to the tune of 0.55 BTC.  Not much, but painful because it represented all the BTC I'd earned and a few I'd bought.

In retrospect it should have been obvious--the protestations to say it was a scam so they could prove it wasn't, the warnings about how all those gambling sites will rob you blind (projection?) even while the website author apparently had a Satoshi Dice habit all along, and finally those dubious terms of service which basically translate to say "We can (and will) cut and run at any time."

The guy clearly knew what he was doing, though, because unlike a lot of scam websites, he actually worked hard to make this one look and act legit--everything from posting the percentage of the server taken up, to not allowing new customers for hours at a time, to answering emails in a way that was reassuring, having a strong presence on forums such as this one...

Ultimately, the reason I fell for it has to do with a unique feature of Bitcoin--the fact that it is mined into circulation.  If someone had told me "Send me $25 and I'll send you back $30," I would have said "Yeah, right!" and moved on.  But with the Bitcoin mining process, it at least sounded plausible.  However, as people have pointed out earlier on this thread, the mining math absolutely did not work out, and that was the part I failed to understand.  They say the lottery is a tax on people who can't do math; I guess Mining United turned out to be a tax on those of us who don't have a thorough grasp on how Bitcoin mining actually works--only we're not going to be seeing beautiful parks and recreation areas anytime soon.

In any case, painful, but valuable lesson.  Here is what I learned.

1.  Be sure to have a thorough understanding of every step of the process before putting any money into it.  In other words, take the time to do your homework first.

2.  Don't be so eager to "get in on the ground floor."  I actually did receive one payout, but as someone else also pointed out, getting a pay out does not prove something is not a scam.  It could just mean you got in before it all fell apart, or that you're being enticed to put more in that won't come back.

3.  Don't try some radical new investment right after having a baby!  Those hormones really do affect your brain.  Now I knew better than that, and still did it anyway.  Yes, he will be three weeks old on Tuesday :-)

4.  Never believe you're too intelligent to be taken in.  It happens to the best of us from time to time.

I'm not going to beat myself up.  I know the Bitcoin I lost can be replaced.  Hopefully I will be wiser next time...  I am sorry for all of you who mentioned losing much more than I did.  Hopefully the experience won't be wasted on you either.

I love the idea of an Angie's List for legitimate Bitcoin opportunities.  I would actually like to find some solid and legitimate ways to invest Bitcoins I do earn so that my account can grow.  It would be cool if there was a way to buy a few stocks in some of those new and promising Bitcoin ventures.

And I still think Bitcoin is a wonderful concept...
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