Thats a shame; "probably legit" is by far the most generous a rating I can give, absent real cryptographic proof of (current) hashrate.  Given you are mining on a public blockchain, I honestly dont see how its difficult to provide such proof.  Im even thinking "probably legit" may be too mild.

Do keep in mind its not me you want to convince, my rating is just that, its your potential customers that you want to convince.Saying you are 100% transparent but unable to show your mining revenue isnt going to cut it with all that many I think.

if you are unwilling and/or unable to prove your hashrate using the public blockchain, then  yeah, obviously it does cost you points and its a major issue IMO. Pictures are nice, but there is no telling who owns it or even if you still possess that hardware.
So much for 100% transparency.

Thats fine (though Im not sure I buy the security argument) but then what is the signature you sign the coinbase transactions with in your own pool?


I am indeed surprised, because so far you've not 'proven' more than ~70TH, and I use the word "proven" lightly, as it wouldnt be proven until you sign a message with the key that belongs to the addresses you posted, but for now Ill grant you that, especially considering how many TH still appear to be missing.

Why dont you just disclose all the pools you use, and your userid on those pools? Or why not aggregate your pool revenue to one address that you prove ownership off, and each day you distribute bitcoins from that address to cold storage / customers / whatever ? Thats how eg cryptx does it. I just go here:
https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

And can check each day how much they earned, and verify the origin of the funds is indeed some pool that actually mined those coins. That way you still risk no more than 1 day worth of revenue in case there is a security breach, and you have convincing proof of your hashrate.


Hence Im looking first for proof that you indeed own the hashrate you would claim. Without that, indeed it doesnt have any value.


Sorry if I missed it. Where exactly can I see how much hashrate you sold?

I see 15TH on eligius, ~1 BTC/day worth of hashrate on btcguild, and an insignificant amount on the third one (no idea what pool that is).
Im far more interested in seeing the coinbase / address of your internal pool where I assume the bulk of your hashrate is pointed at.


I appreciate the offer, but it wouldnt solve anything. If Im given privileged information that other people have no access to, I would be asking people to trust me instead of you.

I realize short of publicly trading contracts on an exchange, its difficult to prove deployed hashrate vs sold hashrate , but Im more looking for public disclosure of those (real time) figures, so that anyone can compare what you claim to have deployed with your actual hashrate, and eg,  if someone orders 100TH,  he can see the available amount go down. Is the latter solid proof of anything? Clearly not, but as with all the other criteria, its a step in the right direction.

Ha, I just posted in your thread asking some of those questions, our posts crossed
I suggest we continue the discussion here rather than in your thread.


Now would be a good time. As long as you have not disclosed it, I cant grant you the point.


I dont require them to promote anyone, but  Id be surprised if KnC wouldnt be willing to just post that your are a (large) customer. Then again, the pictures do speak for themselves.


Im afraid just saying that, is not good enough.  Where can I compare deployed vs sold hashrate?

Id like to include megamine in my cloudmining overview (which really is a ponzi assessment) here:

https://bitcointalk.org/index.php?topic=860400.0

A few questions in that regard:
You claim to be "%100 [sic] transparent", have you disclosed your mining address, block signature and made public your pool statistics?
Do you disclose how much hashrate you have sold vs deployed ?
Can customers mine on a different pool than your private pool?
Is there a way to transfer (sell) contracts?

thx.

Pictures alone are not enough (none of those criteria alone are enough),  but refusing to post any is definitely a big red flag.

Send me all your money, I have this secret money making machine and I will send you back 10x more next year!
Would you give me the benefit of the doubt? Do you give Nigerian princes that randomly email you the benefit of the doubt?
Really?

Its trivially easy for a cloud mining company to prove at least some legitimacy. I listed them here:
https://bitcointalk.org/index.php?topic=860400.0

If a company refuses to do all of that, ask yourself: why? The only sensible assumption is that the reason why is that its a scam.


Of course they are related. How likely do you think a scammer is to pay you a profit at his own overall expense? See the NFAQ in the above link that explains why a mining ponzi or fractional mine, if nothing else, is at least a dumb investment.

First of all, I dont see a PB referral link in your signature, so you're not in the same boat. You dont have direct financial incentive to mislead other people (although you do have a minor indirect incentive since you are invested). Unsurprisingly, I dont see you deny this is a Ponzi, unlike biomech.

Secondly, knowingly investing in a ponzi doesnt earn you any integrity points with me regardless of  what you say about it, because you are trying to profit from a scam and your profit will come from future victims. It also enables the scam to continue and gives you the perverse incentive to promote it.

As for AMT; its off topic here, but you are delusional about them. I only needed to glance at  their website for 2 minutes to determine with absolute certainty they were liars and crooks, qed.

Im so disappointed seeing you of all people,  promote this scam for your own benefit.
When you endorsed AMT's scam after receiving a freebee miner, I gave you the benefit of the doubt. But reading what I read here, it appears I was wrong, you have no integrity.

thx.


Which is to say, there is no exit strategy.
Ended up rating them with 3 points for now.

Nothing. What can you tell me about them?

I assure you Ive  heard your 'success story' far more often than you heard warnings like mine.
And I know how it ends.

If you want "yield", you cant beat any of the dice gambling sites. Of course you can lose it all, but the real difference is that those gambling sites will take a predictable and verifiable 1% (or whatever) average cut, and scams like these will take as much as they can. ANd its gonna be more than 1%.

As a more general hint: do not bother investing your bitcoins. Dont. The bitcoins themselves are the investment. You dont invest gold bullion either do you? You may invest *in* gold, but gold doesnt bare interest, and neither does bitcoin. Investing either is a sure way to end up losing it.

Id like to see the amhash ID  too. Supposedly they are mining on ghash.io, see the chart halfway on their homepage:
http://www.amhash.com/

Im assuming thats not a fake chart, but would like to verify.

That doesnt say much about the relationship with AM though. Its clear as mud as to who is taking the mining risk (and reaping the rewards).

No, it actually makes a huge difference.

First of all if you invest in a legitimate mining company, your coins end up securing the network.

Moreover, while it may be unlikely, at least its possible the investment will be profitable. With a mining ponzi, overall its impossible, unless you expect the scammer to pay your profits out of his own pocket.

Lastly, and most importantly,  its unlikely a ponzi operator will continue operating for longer than is profitable for him. So once influx of new sales is lower than the outflux of fake mining proceeds, he'll vanish  (and start over most likely). The result is that instead of a likely relatively small loss, you will make a huge loss.

Reread point 4 (or more likely: 5) carefully.

IM trying to include cloudhashing in my cloudmining overview here:

https://bitcointalk.org/index.php?topic=860400.msg9568209

Some questions Ive not yet found answers to:
-Is there any recent proof of hardware ownership/hashrate? Mining address, datacenter pics, pool ID,.. I know they used to mine on bitminter, but thats some time ago.
-Any numbers of hashrate sold vs deployed and proof of the latter ?
-Any recent (non BFL) endorsements from asic vendors?
-Is there an exit strategy for customers ? ie, possibility to sell/transfer a contract?

thx;

That you say you think you know someone who should know, doesnt cut it for me. Not saying you're being untruthful, but if you are doing business honestly, you just have to give correct contact information right on the website. Anything less than that is a big red flag.

So what are you saying? Its better to lose bitcoins to a scam than dollars to price variation? ? I havent lost a satoshi in the past year, thats certainty better than any cloudmining contract.