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1  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 24, 2013, 03:11:01 AM
Now you people are getting nasty.  This is a newbie thread.  Maybe some of us don't have the benefit of your years and years of experience immediately spotting these scams.

It doesn't take years of experience to realize this was a scam. It was completely obvious.

There is no plausibility behind their mining contracts, that's absurd.

I'm glad you found the APR useful. Since I deleted that post, here it is again (from a previous poster). "37% weekly interest is 1,286,676,865% annually" . It doesn't take a rocket scientist to figure out that 37% weekly interest is not realistic. You don't have to actually do the math to know that's not plausible for ANY business plan. NOBODY can repay loans at that interest rate (and, yes, you're sending this guy short term loans, regardless of how he dresses it up).

Just like every scam, they do have a scheme to sell, and sometimes it sounds plausible (this one DID NOT). It comes down to common sense. Nobody is going to send you free money and make you rich.

I warned people over and over. So did everyone else. Clearly, something other than logical reasoning is going on in your brain.
2  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 24, 2013, 03:08:14 AM
Someone already posted this, though one of the supporters of this scam (at least while it was being perpetrated) discouraged it ...

FBI Cybercrime devision report Internet crimes: http://www.ic3.gov/default.aspx

Does the FBI care? YES! There is no minimum financial loss before they care. They are *obligated* to care about all frauds REPORTED TO THEM.

Now, the government is slow, and prosecution takes time, but eventually these people get what is coming to them. However, victims MUST REPORT !

This has nothing to do with Bitcoin. This is all about fraud. It doesn't matter if it was Bitcoins or Goats.
3  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 24, 2013, 03:01:47 AM
Relax!  I'm not getting involved in this one.  I was just making the point that it's easier to spot trouble areas for a website claiming to sell mining shares or contracts or whatever it is when you actually understand what goes on behind mining, something I don't at this point.  That's why I appreciate what people say about how the estimated yields are overly optimistic.  Even if the company is not a scam, it still could be a poor investment for that reason.  That point was made on another thread about Cloudhashing.

There is no analysis or understanding needed. These people most likely don't even have mining rigs.

Are you this naive? Why would you even begin to believe in something so absurd?

It is frustrating to all those who try to warn you people away.
4  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 13, 2013, 07:45:14 AM
As I have said, only time will tell.

Actually, it is abundantly obvious regardless of time. It's a classic and *overt* Ponzi Scheme. Ponzi Schemes are illegal and early investors that actually do 'win' can get hit by clawbacks in later prosecution (where they come and take your money).

By encouraging others to get in just so you can get your payouts for a while longer is perpetuating the fraud and making YOU a participant.

And there are no mining rigs. Get real. It doesn't even make sense with our without them. The whole thing is a joke.

Almost as bad as the web site. Check the source. It was made by some WYSIWYG editor, it's freaking awful. And it is HILARIOUS that hxxp://www.btccheap.com/ has the same site 100x better. I'm pretty sure that it was MiningUnited that is the copier of this scam. Almost as funny as the email from 'Jimmy' that tells Mining United that they can play Satoshi Dice with his 'donations'.

This idiot is actually going to get away with a good darn chunk of change, thanks to your morons. And, YES, he will get YOU. Whatever profits you have, he'll take when he exits with your latest 'investment'.
5  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 13, 2013, 06:51:53 AM
The whole thing is kind of funny...

1. MiningUnited says, "Send us Bitcoins, and we'll send you more!"
2. MiningUnited got caught playing Satoshi Dice with investor funds, "A guy named Jimmy emailed us and said we could play with his coins! See, here's the email." LOL
3. MiningUnited has a clone web site, "That's some person ripping us off, see they sent us an email taunting us!" LMFAO

Good thing they have these nice little emails to 'prove' what 'they' are saying.

I'm pretty sure it's a single scammer here. A teenager, most likely.

Are you people retarded? And if you're greedy enough to go on the 'greater fool' principle, hoping YOU won't be 'in' when the gig is up, you'd really encourage this type of behavior for some profit? Further, as you get more confident, he WILL take you, and your losses will be for nothing. There's no telling when this ends, could be today, tomorrow, or next week. You are an idiot if you send this guy money.

Ponzi schemes are illegal. The owner of this site will be prosecuted, he'll be locked up until he's 18 (assumed he's under 18), and his parents will be highly upset since they'll be bankrupted.

When you suckers lose your money, I don't even want to hear any complaining, as you are retarded. Those who are taking profits early in this ponzi scheme may also be liable!! Clawbacks go after EVERYONE who profited from a Ponzi scheme.

Getting in bed with this guy is suicide. You think someone is going to just send you free bitcoins forever? Does that sound right to you? Some anonymous joe who, as you can see from this thread, has no integrity.

The only thing that truly upsets me is, seeing how stupid people are, it seems we should all just set up clones of this dumb ponzi scheme. Except for the fact that it's a felony. It doesn't matter if its Bitcoins or donkeys, a ponzi scheme is a ponzi scheme, and they are illegal. And, yes, the fed takes this kind of thing seriously. They may come beat down your door two years after you get out of this scheme, but your day will come.
6  Other / Beginners & Help / Re: Suing MtGox for $75m is a dick move. on: May 05, 2013, 03:32:34 PM
Doesn't the contract specify they agree to use Washington as the jurisdiction for any dispute between them?

I don't know, does it? ;p. If you read that, then that's where the lawsuit will be. That actually is another sign that Mt.Gox may not have been as big into business as Coinlab, something I suspect is a big part of the problem here. Mt.Gox grew very organically, and I'm just not convinced Mark whoever is an experienced businessman. While you wouldn't think that matters, when it comes to contracts, it's easy to 'get one over' on the other party, which is why everyone has buttloads of lawyers to review these things.

And, yea, I'm sure Mt.Gox regrets the deal, BUT they probably wanted isolation from the possibility of US and Canadian regulation. They hedged their bets to decrease risk, and then - seemingly - reneg'd when the risk abated.
7  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 08:52:19 PM
Quote
Still no reply dude?

Andy B

As we said, we will consider your advertising options and get back to you. Thanks!

Who is 'we'? I seriously doubt there is more than one fraudster here, but please provide your real identity. If you're going to do 'business', that's a pre-requisite. Of course, I already know, as does everyone else who has any sense, that this is a scam, a 'long con', a Ponzi Scheme, and *people will lose*. Even if he pays back once, twice, eventually he'll run away with you money, because the 'super secret business plan' is nonsensical. Does he sound like someone intelligent enough to even come up with any sort of business plan? lol

Provide your real identity and methods to confirm it. That's not too much to ask. It'll be helpful to the FBI/SEC when they prosecute you for fraud. Save them time.

Anonymous domain registration. Anonymous forum account. Heck, he may be the infamous PirateAt40, back to scam again. Suckers.

Do NOT encourage these types of scams by being a fool and sending him your money. At least demand to know who he is before you do, so you have some insurance. And once you get a name, double and triple verify it. If he was legit, he'd have registered his domain publicly, not anonymously. He continues to refuse to identify himself, but wants you to trust him with your money. Oh, oooakkay.

MINING UNITED IS A SCAM. Mining United is a fraud. MiningUnited is a Ponzi Scheme or Pyramid Scheme. MiningUnited is anonymous. MiningUnited.com is engaged in an overt fraud against the Bitcoin community.
That clear enough?
8  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 08:23:24 PM
Quote
If you're printing your own money, why do you need to offer 10% daily to people in order to get loans to keep your business running? Are you going broke with your "secret business plans", are you that desperate?

We are having other people pay for our Mining gear, why wouldn't we? Where do you think we got over 1,250 BitCoin to be able to buy all the mining gear we now have? Are you saying we should just pay back out the current users and stop? We could do this, but why? Why not provide a service for those who can't mine for BitCoin themselves, or don't know how. Should we just stop now and be that greedy?

Hey, he just wants to send everyone free money out of the goodness of his heart!

Printing his 'own money' is so profitable that he needs YOUR MONEY, lol. He's dong so well that he must solicit short term loans from random people at an interest rate in the stratosphere.

Apply common sense. You think this person is going to send you back more money than you invested? Maybe the first time, maybe the second, but he'll GET YOU at some point, and you're going to take a net loss. That's the nature of Ponzi Schemes.

This 'business' is anonymous. Domain registered under DomainsByProxy. No identifiable information. Deflection. Excuses.

Ponzi Schemes are illegal. Even if he is so delusional as to think he isn't breaking the law, that doesn't matter in court. He'll be prosecuted and sent to prison.

Or, how about this, BEFORE you send this scammer any money, how about you AT LEAST determine who he really is. Sounds reasonable enough, eh?

Enjoy prison.  The Bitcoin community MUST take a stand against these obvious fraud. Come the heck on folks!

----

Let's see what time will tell ...

Is there any way to prove that he is speaking the truth?

Why don't you demand to know who he really is? Isn't that reasonable? If he's legit, that should be no problem.

Of course, he isn't legit, that's why he is anonymous.
9  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 08:04:23 PM
Here's a thread discussing what is happening with the similar scam run by Trendon Shavers (PirateAt40). Yes, it's similar, despite their explanations being different. A Ponzi Scheme is a Ponzi Scheme.

https://bitcointalk.org/index.php?topic=159772.0

The SEC is apparently building a case, has collected witnesses, and is proceeding. It takes time, and Trendon Savers (PirateAt40) will eventually go to prison.

I would think after what Trendon Shavers did to this community, perpetuating his fraud HERE ON THE FORUMS, I'd suggest this community start taking a STAND against fraud. MiningUnited should be labelled a scammer, banned, and that should be the end of it. Sure, he'll come back, try again, repeat process, until he finally goes to prison for something. Learn from the past.

And 10% daily is what, 36,500% APR? lol .. yea, real legit.

It may take some time, but you are going to end up in prison MiningUnited. Have fun Smiley. The End. Ponzi Scheme.

To any reader: Apply some common sense. Even if this guy returns Bitcoins at first, he won't for long (it's impossible). He is breaking federal law, and his absurd excuses won't get him far in court.

SHUT THESE PEOPLE DOWN! There ARE SUCKERS who WILL fall for these schemes. It's the responsibility of the community to make sure it doesn't happen.
10  Other / Beginners & Help / Re: Suing MtGox for $75m is a dick move. on: May 04, 2013, 07:29:59 PM
Does anyone know if this is under US or Japanese jurisdiction?

I believe it was filed in the US, though I may be wrong. It does get somewhat problematic to file a lawsuit internationally, though Japan is one country where there are at least fewer barriers than in some other countries.
11  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 07:20:24 PM
Those were real "coins" not "BitCoins". Seriously? Get your facts together.

You are a fool. Bitcoin or donkeys, any commodity that has value can be used in a Ponzi Scheme. It's illegal. We all know you're a scammer. The End.
12  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 07:13:42 PM
These scammers need to realize that just because we're using Bitcoin, that doesn't make them exempt from federal laws regarding ponzi schemes. A quick Google reveals this case of a guy getting 17 YEARS for running his Ponzi Scheme: http://www.fbi.gov/boston/press-releases/2013/milton-man-sentenced-to-17-years-for-orchestrating-large-ponzi-scheme-and-massive-mail-fraud

Alright, I'll say it was a total lie (not really, but trying to get you to move on). I totally lied and made up, out of the blue, the unrelated claim that you said "taxes are illegal" and you'll "never pay taxes". Totally came to me out of the blue, lol.

Now, can you get back to your Ponzi Scheme defense? I find this hilarious. It's also great evidence for your inevitable prosecution.

Newcomers, read this thread of a now infamous Bitcoin Ponzi Scheme, unknown at the time, and how the defenses are so similar .. again, he defended himself to the end, but now it's well documented and he's been publicly labelled as a scammer in his profile here.

After reading that thread and wondering "WOW, lots of people believed in the scam!" .. then see this recent thread here: https://bitcointalk.org/index.php?topic=159772.0 (or others) for the status on the subsequent investigation and likely arrest and incarcertation of PirateAt40. The scam is well documented, but it's amazing to see the old thread (first link) documenting the development of the scam, as it happened.
13  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 07:07:09 PM
Quote
So you're not addressing the fact that taking loans at a crazy interest rate is an awful business model?

What is so crazy about being able to generate BitCoin and paying back 1-9%?

The fact that you're borrowing money to do it with instead of using your own, and offering ludicrous interest rates to do it? You could get far larger loans with much less interest, except those people would look at your "business plan" and realize it's a classic ponzi scheme.

For the newbies, here's a good thread to read, a (then unknown)ponzi that ran for several months. Notice the similarities in the excuses used by the operators. "I know it looks like a scam but my reputation!".
https://bitcointalk.org/index.php?topic=50822

^^^^^
Getting back on track, so people are left with some clear information about this anonymous 'business' (illegal Ponzi Scheme). I think that's a good place to leave it, before MiningUnited further deflects. And, note that since he's paying out per day, the actual APR for these loans is astronomical. I mean, holy cow ;p. It's so amazingly brazen and absurd... and flat-out illegal.

The thread referenced is about the now infamous pirateat40 who ran a 'Bitcoin savings and loan' ponzi scheme that's been well documented since. Read me and check out adamantly this guy defended himself to the end of his scam (maybe some people are really so delusional they don't realize they have 'invented' yet another Ponzi Scheme)
14  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 07:03:08 PM
Forum records will show this to be true you fool. Just because you deleted the posts doesn't mean all evidence of them is gone. There are also plenty of witnesses in the thread here: https://bitcointalk.org/index.php?topic=195086.new;topicseen#new . However, this is all OFF TOPIC.

As was said, explain how this isn't a Ponzi Scheme (it is, and he's in trouble) .. quit deflecting. Tell us about your legit, anonymous, business in which you refuse to reveal your identity and send free money to everyone who sends you money (lol).
15  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 06:52:59 PM
it sounds too good to be true, so those things usually are a scam.

Indeed. Common sense goes so far. In this case, 'usually' isn't a strong enough word though.
16  Other / Beginners & Help / Re: Tax evaders and protesters give Bitcoin a bad name on: May 04, 2013, 06:51:50 PM
And MiningUnited deleted all his posts where he claims taxes are illegal and he'll never pay taxes after I outed him in the thread discussing his Ponzi Scheme anonymous 'business': https://bitcointalk.org/index.php?topic=179917.0;topicseen .

Way to stick by your argument!
17  Other / Beginners & Help / Re: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? on: May 04, 2013, 06:49:29 PM
It is obvious that this is going no where fast. All counter claims are full of so much misinformation trying to tarnish the reputation of our site is ridiculous.

For example, dbcch0 please quote where it says:

Quote
He's already stated he doesn't pay taxes.


In the other thread in which you are communicating. I grabbed some screenshots when I wrote that, in case you remove(d) the posts you made claiming taxation was illegal and you'll "never pay taxes", but no need to waste time on you.  EDIT: He DID delete those posts, lol.

If you think you can make enough money from your 'investors' to cover their returns, which I imagine is your delusional super-secret business plan, good luck with that! And note that you are the millionth person to try a Ponzi Scheme, which is why these were made illegal.
18  Other / Beginners & Help / Re: Tax evaders and protesters give Bitcoin a bad name on: May 04, 2013, 06:41:47 PM
there is such a vision of a governmentless society that is voluntary

please check out this

https://www.youtube.com/user/AdamKokesh

a couple of years ago i would've agreed with you

I am aware of this perspective, but don't believe it would work in the real world. That SAID, I do appreciate that you can back up your philosophy with more than utter nonsense.

OT: I'm still upset about MiningUnited's crap. I mean, the last thing this world needs is another Ponzi Scheme. Therefore, I am composing a report to the proper authorities. I believe he needs special attention from the 'Bitcoin police' as well. His site is so obviously a ponzi scheme it's almost too brazen to believe, as if he thinks he is above the law and can't go to prison. EDIT: And, unlike many who toss around the term 'ponzi scheme', I am correctly applying it here.

19  Other / Beginners & Help / Re: Tax evaders and protesters give Bitcoin a bad name on: May 04, 2013, 06:33:29 PM
I can't wait until a gang comes and takes your Bitcoin, and rapes your bunghole in your anarchist fantasy world. No government to turn to, and guess what - you're outnumbered!
So you openly admit you hope violence happens to those who disagree with you. Why should we trust any of your 'moral' arguments?

You don't have to trust me. And your response in nonsensical and unrelated. It's a diversion from the issues at hand, which you can not compose a reasonable response to.

I obviously was making a point. About reality. About the nature of humanity. Ah, nevermind.
20  Other / Beginners & Help / Re: Tax evaders and protesters give Bitcoin a bad name on: May 04, 2013, 06:30:23 PM
To all: Regardless of your opinions, I just realized MiningUnited is running a Ponzi Scheme (a classic and obvious one where he claims to send back more Bitcoins than you send to him).

So aside from his tax protesting, he's headed to prison for THAT alone. Ponzi Schemes are illegal MiningUnited. As a supposed attorney, I'd think you know this, but then again - you claim taxation is illegal, so who knows what you know.
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