Let us recap:

No company registration on his site.
No picture or information about the principals including evidence of experience, or training on the site.
No evidence provided he is staking or providing arbitrage on PoS coins on his site or to his customers.
No information posted on the site how it will recoup the costs of staking and provide return on investment.
One "major" investor pulled out lost 30% on his initial investment.
Unverifiable and misleading claim it is the  'MOST PROFITABLE WAY TO MINE'.

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What I have a problem with is being told I couldn't be doing this as altruism. Really. Am I being paid for this? Seems odd I have no signature campaign? No, reason really to do this for profit. I wonder why then? Personally I dislike the misinformation and lack of openness of the people behind this venture. Obviously someone has made a bad choice of investment and doesn't want to hear the reasons why so is lashing out. That is a tactic also of the shill to attack the MAN not the ARGUMENT.

Continually comparing his site to cloud-mining is exactly why you should not be investing. This coupled with the fact our principal is not posting any information on his site to verify any business registration or his identity make this a recipe for a ponzi scheme. Finally there is no evidence the principal person has any experience or background to handle such a securities / investment scheme.

Just steer clear. The customers who have bought in to this do not have enough data to determine the viability of this investment. It is best to avoid such poorly explained and documented businesses on these forums. Especially when the principal is unwilling to openly identify them self on their site. It is not safe don't invest.

Serious stuff for serious developers.

Nice to see hardware for people that develop.

In terms of price I don't think for a development board that is prohibitive for a serious developer.

How the pricing of this offer somehow determines miner price is hard to determine as it really depends on where you have your final unit built and the volume of your run. It is worrying that this is the only such offering currently available for the foreseeable future so they could as avalon, asicminer, hashfast, bitmine, black arrow, bitmain or bitfury or spondoolies have done before price it to what the market will bear (thanks vs3) not what is best to make ROI for a home miner a small farm.

1. Where is there any evidence or documentation he is actually staking anything or doing all this work? Further who is this person and why is he qualified to run an investment that would require him to register with the SEC in the Philippines by law.

2. Exactly. Your returns with this are even more of an unknown because who the hell is this guy? Seriously where is he identified anywhere on that site or in these forums? Anyone running such an investment plan should be forthright about identifying themselves, the business and providing some background on their experience. Who in their right mind is going to give this person their BTC if he is not qualified to handle such an investment?

1 year ROI being paid on time, regularly?

This is very familiar. People have been promised REGULAR payments before.


You have been paid once and it is hardly ROI if you do not have more back than what you invested. If you do this is certainly a scam and no one else should pile on the ponzi bus.

I am doing this because this site is misleading and it will eventually collapse under mismanagement or outright fraud.

The questions remain and I suspect will continue to go unanswered.

There is no record of the principal actually doing any staking is there? Where can we see all the evidence for the principal chasing coins? Converting everything? Checking for forks? Checking wallet updates for 4,5,10 different PoS currencies?

You think he is doing all that for very little or no return himself?

I seriously loved to see all this work he is doing documented. I doubt he does anything.

The 30% he just made off the "major" investor...


...will easily cover the minimal payouts required for the next little while but he needs to advertise pretty hard to make this work and it looks like he spends most of his time spamming these boards and not watching PoS coins and what not. How can he be monitoring such a complex investment scheme while posting walls of text?

What evidence is there that he has any experience and the necessary skills or intelligence to run such an investment?

If he is such a stand up guy and a great investment guru why won't he post a photo and some basic background about himself for everyone to see and a company registration number?

The Philippine Business Registry

It sounds like you know more than the principal in regards to what he does daily. Why is that? Why doesn't he explain his process to investors?

Come on buddy you are not going to start attacking me as a the villain here right? That is the classic shill move. Keep it on point and answer my questions. Why are you avoiding those questions?

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Bottomline this for everyone.

We have an anonymous person taking BTC and paying out to people based on 12 month ROI.

At what point would you say no I am sorry but that is just not enough information to invest.

I agree to some of that.

Personally the future is not nuclear or coal obviously given the problems with both is waste.

Solar if it were given the same subsidies or oil, coal and nuclear had their subsidies removed would mean a huge shift to Solar / Wind / CO2 capture.

It can either be government subsidies or through government closing the loopholes. Either way things won't change appreciably because of the feed trough is set up for coal, oil and nuclear companies not for solar or wind etc.

Tesla got huge tax breaks to break ground on its battery plant. The right move? Keeps jobs in US and cutting edge jobs certainly. There is a lot of fat and waste in the US budget particularly for military spending far in excess of any solar rebates which are minimal. Minimal compare to coal, oil and nuclear subsidization that is now entrenched in US Budgets.

http://priceofoil.org/fossil-fuel-subsidies/

The Q & A doesn't really mean much.

Basically you don't need a 3rd party to stake coins. Why would anyone need this service? Especially if they hold you hostage for days to weeks or possibly months or forever. How is this any different than a cloud mining operation asking for contracts for x days that you can transfer?

This is set up already more likely a pyramid or ponzi or cloud mining operation that has no physical miners. The reason why there is no defined reason to believe there is a way to generate revenue nor is this process being documented for the investors anywhere on the website. What is the principal doing to achieve ROI 'within a year' for you and sufficient revenue to keep stakeminers going?

Stakeminers is an arbitrage scheme. Is this person qualified to run an arbitrage?


You have invested.

You have no results of ROI within a year since you been with 'them' for only over a month.

Here is my take away on your statements so far you have given this completely anonymous person (not a company registered in any way legally) BTC and you have to wait 1 year to see any ROI?

Ya ok... so you would recommend this because you like giving BTC to people for a year and hope to get ROI with no clear explanation on how that would be achieved and provide sufficient revenue to keep this person managing the business? Has he explained the risks or terms and conditions or liability to you?

Should people feel uneasy about this investment would they not start promoting it just to get an ROI for themselves and ignore the potential for losses later after they make their money? Classic ponzi. Please educate yourself.

Lest We Forget:

https://www.techinasia.com/bitcoin-pyramid-scheme-hong-kong-387m-investors-money/
http://www.forbes.com/sites/jordanmaglich/2014/11/06/texas-man-arrested-for-4-5-million-bitcoin-ponzi-scheme/
http://www.sec.gov/investor/alerts/ia_virtualcurrencies.pdf


So let us recap shall we:

     * There is absolutely no legal registration of this company in any jurisdiction.

     * None of the principal 'owners' are identified in the event there is legal battle you would have to work pretty    
        hard to track down the individuals involved.

     * The principals involved have little or no experienced in staking or POS coins. They have zero qualifications to
        run such an investment portfolio for others. There  is no documentation of work or education experience or  
        background of the principal(s) involved.

     * You can't get your BTC out in the short term without a massive penalty.

     * There is no reasonable or clear explanation of the business model or in other words how this service generates
        revenue for the owner and roi for investors.

     * There are no reasonable explanations to use this service given you can and should stake on your own if you  
        want to invest in POS coins.

     * Claims that stakeminers.com is the 'MOST PROFITABLE WAY TO MINE'. That is surely misleading at least and
        illegal at most to make that claim. Since claims like that are subject to oversight by consumer protection
        agencies. It should be reported.

Here are some links and information just in case they will be needed by 'investors'.

Info on Complaints: http://www.dti.gov.ph/dti/index.php/services/for-consumers

Consumer Protection and Advocacy Bureau (CPAB)
2F Trade and Industry Building
361 Sen. Gil J. Puyat Ave.
Makati City, Philippines 1200
Trunkline: (+632) 751.3233
Fax: (+632) 890.4949
E-mail: cpab@dti.gov.ph



DO NOT PUT ANYTHING INTO THIS VENTURE.

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Here is a just one legit way to try and earn without having to mine from a fully registered company in Bitcoinland.

https://www.coinarch.com/


https://www.coinarch.com/en/Info/OurLeader



How it works:

https://www.coinarch.com/en/Info/AboutCoinarch

Terms:

https://media.coinarch.com/Tag_6.4.0/Content/Terms-and-conditions-jan-15.pdf

I hope people compare the two and think about it. With real faces and experience to back it up. If you want to really spend your coins on some anonymous guy on the net just answer those get rich quick emails please.

The forum at Butterflylabs is gone.

Oh my I wonder why that was necessary?

I think he should only be trusted insofar as you believe he has found cyberpinoy (and the various alt accounts) to be a fraud.

Anything else up to you to do your homework.

Brave man to post his own scam thread about himself.

cyberpinoy is fraud and a conman given the lengths he goes to deflect the focus of his pool which failed and his new scam stakeminer.com.

The best thing to happen here is for everyone to get a good long look cyberpinoy and see what kind of person he really is.

What about ICEBREAKER... is he being sued? Doesn't he have some BTC in his hot little shill mitts?

Gay bashing the last bastion of a scammer caught scamming. Hate speech just puts the icing on the cake.

Did I mention Freicoin?

I think I did.

Ummm buy used in country would that not solve the problem?

Not like you are going to buy a ton of miners so shop locally.

When we sold off our SP30's in Norway they were snapped up quickly. No importation taxes were a big reason they sold so quickly.

Yup.

The argument would be keep it in longer to see return which is just another form of ponzi / pyramid I call Bullshit.

If you want to get POS coins just do it direct there is no need of a middle man at all.

Staking?  You give them money to STAKE for you?

I get the worthless Proof of Stake Altcoins part.

Better off just buying up some Altcoin and holding it what is the point of the "broker".

https://en.bitcoin.it/wiki/Proof_of_Stake

Better losing 30% now than 100% later. That would be my take on that.

Seriously if you are investing in this losing 30% is the best you are going to do.

There is a huge issue with this as an investment.

Who is running it?
Are they licensed to carry this sort of security in their country or internationally?
What experience do they have with such a venture?
What experience do they have in securities?
How is the money made in this investment?

Simple explanation anyone would be nice on how this real investment opportunity run by verifiable experts.

Don't put your money in this dog.

Bitmaintech mines massively and sells the leftovers to home miners. Will they continue to sell to smaller interests as long as it is after getting a few weeks off them first probably but doubtful longer term given the RMAs etc mounting. I suspect by 2016 they will not be selling nor will SFARDS nor Avalon. The last two maybe way too late and inefficient moving in 2016. Competing with Spondoolies and BitFury and KNC you can't be behind the efficiency curve as it eats your mining profits.

Something fishy with this outfit.

Spam?

Off Topic?

Nice.

Should have made this a self-moderated thread somewhere else.

So unproven really.

They lock you in longer term and no easy way to withdrawal "early" without pain.

That is just not a good investment for anyone it has been around long enough to prove it can payout.

Sounds more like a pyramid / ponzi style system than a longer term investment at this stage.

Why not just buy and hold BTC rather than be TRAPPED in this investment?

How does this investment actually make an investor money? Explain it in simple terms.

You'd be better off punting at Coinarch with the boys there how are professionals. https://www.coinarch.com/

They at least are knowledgeable and experienced in securities unlike this fly by night operation.

So unproven really.

They lock you in longer term and no easy way withdrawal "early" without pain.

That is just not a good investment.

Sounds more like a pyramid / ponzi style system that a longer term investment.

Why not just buy and hold BTC?

How does this site actually make an investor money? Explain it in simple terms.