Got my ROI some days ago...

[Mikestang]

The trick with scams/ponzi is if you get in early enough you can still make something, but eventually everyone loses.

[1714857882]

1714857882

[1714857882]

1714857882

[notlist3d]

The trick with scams/ponzi is if you get in early enough you can still make something, but eventually everyone loses.

I did the math a few day's ago it seems to be ponzi level priced.  Unless it's a typo that electricity and fees is included into initial price.



Here was math I came up with:

Just doing math on it.  Lets say for your 1T they run a S5 for 10 cents a kw.  (They would have cooling, employees, hosting, etc etc fees).

But they run the S5 for $1.39 a day.  Take that times 365 day's that they say are included in price.  They will spend over 500 dollars in a year not including the S5 for lets say 340.

So 840 dollars in cost they will give you that 1T for 1.4 BTC or 235 per BTC.   So you pay 329 dollars.  They would lose approx 500 dollars in a year to give you this service.... i just don't see it being real.



Again I could be wrong but most likely it seems like you would not be mining, just getting money back that you sent them initially.

[Snipe85]

That's why they rarely just sell contracts. Those who aren't trying to scam you use the money you gave them to trade and invest, maybe even convert to fiat and lend it and of course mine for themselves.
It can be possible to offer legit cloud mining contracts but the deal just not that profitable. Both parties the buyers and the sellers will be balancing on the edge throughout the lifespan of the contract, unless Bitcoin enters another bubble in which case everybody wins.

Just doing math on it.  Lets say for your 1T they run a S5 for 10 cents a kw.  (They would have cooling, employees, hosting, etc etc fees).
But they run the S5 for $1.39 a day.  Take that times 365 day's that they say are included in price.  They will spend over 500 dollars in a year not including the S5 for lets say 340.

When they are mining for themselves somebody is always in the facility anyway, so there are no actual employees, there can be 2 or 3 investors, who are also looking after their own gear by being in the building.
Cooling is the cheaper the bigger the facility - here's where the costs are being cut compared to your own small mine, same with power cost.

[notlist3d]

That's why they rarely just sell contracts. Those who aren't trying to scam you use the money you gave them to trade and invest, maybe even convert to fiat and lend it and of course mine for themselves.
It can be possible to offer legit cloud mining contracts but the deal just not that profitable. Both parties the buyers and the sellers will be balancing on the edge throughout the lifespan of the contract, unless Bitcoin enters another bubble in which case everybody wins.

Just doing math on it.  Lets say for your 1T they run a S5 for 10 cents a kw.  (They would have cooling, employees, hosting, etc etc fees).
But they run the S5 for $1.39 a day.  Take that times 365 day's that they say are included in price.  They will spend over 500 dollars in a year not including the S5 for lets say 340.

When they are mining for themselves somebody is always in the facility anyway, so there are no actual employees, there can be 2 or 3 investors, who are also looking after their own gear by being in the building.
Cooling is the cheaper the bigger the facility - here's where the costs are being cut compared to your own small mine, same with power cost.

Still even with that all being said.  Show a way they can sell 1T for a year for 1.4 BTC, and in that have fees and electricity included in cost.   I just don't see it, to good to be true.

[Snipe85]

Still even with that all being said.  Show a way they can sell 1T for a year for 1.4 BTC, and in that have fees and electricity included in cost.   I just don't see it, to good to be true.

If somebody is offering such prices at the moment it's most likely a scam. 5TH SP30s costed $2k, so the initial cost of 1TH is close to $400, which is already more than 1.4BTC. This was possible a couple months ago, when 1BTC was worth over $300 but not now.

[notlist3d]

Still even with that all being said.  Show a way they can sell 1T for a year for 1.4 BTC, and in that have fees and electricity included in cost.   I just don't see it, to good to be true.

If somebody is offering such prices at the moment it's most likely a scam. 5TH SP30s costed $2k, so the initial cost of 1TH is close to $400, which is already more than 1.4BTC. This was possible a couple months ago, when 1BTC was worth over $300 but not now.

That is my point.  OP's site he said he made ROI is https://www.bitcoincloudservices.com/product/bitcoin-cloud-mining-contract/ .  They are offering it at that price.  For almost the price of a S5 they are giving 1T for a entire year WITH electricity and fees in the initial price.

There is just no way this works out for a company.  I wonder if OP is with company since showed proof of ROI.

[mrhelpful]

any chance you`d share some screen caps op?

or the return on your ROI that you mentioned, because thats a gamble. I never heard of the site as well, but hey if you got your ROI back then more power to you. I have a sense its a ponzi though but on a higher level.

[Amph]

any chance you`d share some screen caps op?

or the return on your ROI that you mentioned, because thats a gamble. I never heard of the site as well, but hey if you got your ROI back then more power to you. I have a sense its a ponzi though but on a higher level.

there is a screen in the previous page but i'm still skeptical, because the amount he invested is too low, and with low amount the things are different, i mean it does not make sense to scam with such amount, they are waiting for big fish to do it seriously

otherwise if they are legit, they are very profitable, perhaps i'll try a low amount too to see if it work

[notlist3d]

any chance you`d share some screen caps op?

or the return on your ROI that you mentioned, because thats a gamble. I never heard of the site as well, but hey if you got your ROI back then more power to you. I have a sense its a ponzi though but on a higher level.

there is a screen in the previous page but i'm still skeptical, because the amount he invested is too low, and with low amount the things are different, i mean i does not make sense to scam with such amount, they are waiting for big fish to do it seriously

otherwise if they are legit, they are very profitablel, perhaps i'll try a low amoun too to see if it work

I find it more then skeptical.  It's hard to believe they could sell a year for the price of the machine only.  They would have to have no electricity or any costs to make money.

Every cloudmine site that is at this level on low payment I would not go into business with.

[jdebunt]

Achieving an ROI with Bitcoin cloud mining is not impossible these days, but it is very rare.
If you do have the option of reselling the purchasing mining power, you will have a better chance at ROI [earlier].

A lot of it depends on the company, the hardware they use (self-produced or not) and how they can buy electricity (in bulk, self-sustained or otherwse).

Congratulations though, happy for you

[notlist3d]

Achieving an ROI with Bitcoin cloud mining is not impossible these days, but it is very rare.
If you do have the option of reselling the purchasing mining power, you will have a better chance at ROI [earlier].

A lot of it depends on the company, the hardware they use (self-produced or not) and how they can buy electricity (in bulk, self-sustained or otherwse).

Congratulations though, happy for you

This one is selling it at price of hardware basically.  I would like to see some real proof such btc address that received payments.

I think if just one sheet shown it's possible OP is with this site.  And I could be wrong just a feeling I have.

[ChuckBuck]

This is a typical early investor ROI from Ponzi mining scheme, before they go tits up and leave scenario.

Look at his screencap, it's a 5 year contract with no out it seems.   No chance this service lasts 5 years.

On the website it shows 12 months, and what looks like some sort of generic Bitcoin mine:



They say their mines is located in South America and Asia, that they have access to cheap electricity, and create their own custom miners, but this is the first I've heard of this outfit, and something about them just doesn't smell legit.

Bitcoin Cloud Services offers  an easy and safe way to purchase hashpower without having to deal with the complex hardware and software setup. We are a team of mining experts with thorough knowledge in the digital currency sector. Bitcoin Cloud Services  specializes in building the most efficient and reliable mining rigs that you can rent. Plus, we have experts for cooling and maintaining data centers.

We are incorporated in the United Kingdom
Name & Registered Office:
BTC CLOUD SERVICES LTD
46-48 EAST SMITHFIELD
TOWER BRIDGE BUSINESS CENTRE SUITE 313
LONDON
ENGLAND
E1W 1AW

Company No. 08935510
Status: Active
Date of Incorporation 12/03/2014
Country of Origin: United Kingdom
Company Type: Private Limited Company
Source: http://companieshouse.gov.uk/

Just don't trust this outfit for some reason.  Something's off.

[unamis76]

This is a typical early investor ROI from Ponzi mining scheme, before they go tits up and leave scenario.

Look at his screencap, it's a 5 year contract with no out it seems.   No chance this service lasts 5 years.

On the website it shows 12 months, and what looks like some sort of generic Bitcoin mine:

They say their mines is located in South America and Asia, that they have access to cheap electricity, and create their own custom miners, but this is the first I've heard of this outfit, and something about them just doesn't smell legit.

Bitcoin Cloud Services offers  an easy and safe way to purchase hashpower without having to deal with the complex hardware and software setup. We are a team of mining experts with thorough knowledge in the digital currency sector. Bitcoin Cloud Services  specializes in building the most efficient and reliable mining rigs that you can rent. Plus, we have experts for cooling and maintaining data centers.

We are incorporated in the United Kingdom
Name & Registered Office:
BTC CLOUD SERVICES LTD
46-48 EAST SMITHFIELD
TOWER BRIDGE BUSINESS CENTRE SUITE 313
LONDON
ENGLAND
E1W 1AW

Company No. 08935510
Status: Active
Date of Incorporation 12/03/2014
Country of Origin: United Kingdom
Company Type: Private Limited Company
Source: http://companieshouse.gov.uk/

Just don't trust this outfit for some reason.  Something's off.

Came here to post exactly that... Maybe the first users who ROI'd are just some kind of bait. This company clearly has some red flags... As with every other cloud provider!

[notlist3d]

This is a typical early investor ROI from Ponzi mining scheme, before they go tits up and leave scenario.

Look at his screencap, it's a 5 year contract with no out it seems.   No chance this service lasts 5 years.

On the website it shows 12 months, and what looks like some sort of generic Bitcoin mine:

They say their mines is located in South America and Asia, that they have access to cheap electricity, and create their own custom miners, but this is the first I've heard of this outfit, and something about them just doesn't smell legit.

Bitcoin Cloud Services offers  an easy and safe way to purchase hashpower without having to deal with the complex hardware and software setup. We are a team of mining experts with thorough knowledge in the digital currency sector. Bitcoin Cloud Services  specializes in building the most efficient and reliable mining rigs that you can rent. Plus, we have experts for cooling and maintaining data centers.

We are incorporated in the United Kingdom
Name & Registered Office:
BTC CLOUD SERVICES LTD
46-48 EAST SMITHFIELD
TOWER BRIDGE BUSINESS CENTRE SUITE 313
LONDON
ENGLAND
E1W 1AW

Company No. 08935510
Status: Active
Date of Incorporation 12/03/2014
Country of Origin: United Kingdom
Company Type: Private Limited Company
Source: http://companieshouse.gov.uk/

Just don't trust this outfit for some reason.  Something's off.

Came here to post exactly that... Maybe the first users who ROI'd are just some kind of bait. This company clearly has some red flags... As with every other cloud provider!

If you look at "proof"  it really is just a letter looking item.  I don't think it proves anything.  I think unless OP provides bitcoin address that "roi'ed" from this company, he is most likely linked to this cloud mining company.

[waterpile]

Red Flag: Good to be true offer
Seems he is an early investor..

[techgeek]

Red Flag: Good to be true offer
Seems he is an early investor..

Haha, seems about right. But, some are legit beleive it or not. Its a matter of them being an asic producer or not like someone mentioned above.

But the site or services he used which isnt mentioned, more then likely got out early since more investors came along after. I see no other way that he got his btc back only for this reason.

[notlist3d]

Red Flag: Good to be true offer
Seems he is an early investor..

Haha, seems about right. But, some are legit beleive it or not. Its a matter of them being an asic producer or not like someone mentioned above.

But the site or services he used which isnt mentioned, more then likely got out early since more investors came along after. I see no other way that he got his btc back only for this reason.

Your giving OP to much credit.  He has a referral ID in his signature to the site that is scam/ponzi.

He is either making it up, remember he posted a letter looking proof, no btc address showing it really happened.   Or really lucky.  With referral and last logging in on Last Active:    April 12, 2015, 07:27:28 PM when posting proof.  I highly predict he is with site.

[Amph]

he could be one of the employer for what we know, and promoting his scam site

there are many newbies doing this lately, in all sections

[notlist3d]

he could be one of the employer for what we know, and promoting his scam site

there are many newbie doing this lately, in all section

I highly suspect him being part of it from what i posted here - https://bitcointalk.org/index.php?topic=1021759.msg11090493#msg11090493

I just have no hard proof.  Only feelings especially with referral hidden in signature.

[crazyivan]

This photo s what makes them ponzi 100%. Nobody puts miners so close to the wall. No cables, nothing.

If the photo s fake, then you can only ask, WHY FAKE IT IF THEY ARE LEGIT?