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Author Topic: scrypt.cc is provably lying about their 850GH/s Scrypt mining  (Read 13401 times)
cryptodevil
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June 28, 2015, 12:51:53 PM
 #1

Quote from: cryptodevil
Don't worry. they're not mining. So that's one less thing for you to have to worry about them robbing from you.

850GH/s of Scrypt. Do the math.



U keep saying that, but since u have so much free time and are so good in math, how about u do the math for once and show us?

The reason I keep saying it is because I keep fucking proving it. Are you lot so goddam lazy that you really can't be arsed to check some basic math before throwing your BTC at an easily-provable scam?

Fine, yes, I do have some time at this moment. I'm supposed to be finishing off some other work but this well of human stupidity keeps drawing me back in like some old-worlde freak-show. Let's run through it, shall we?

Now, children, are you paying attention, you don't want to get overwhelmed by the incredible complexity of what I am about to explain to you.

Scrypt.cc claim to be mining 850GH/s of Scrypt coin.

So, first let's take a look at the mack-daddy of Scrypt coins, LTC. With 850GH/s potentially available to them, there's absolutely no point in  mining at a pool because then they'd be paying pool fees and, besides, with a potential 71.9% of the entire hashpower for LTC in their pocket, they'd easily out-mine any fucking pool out there.

Checking the actual stats we see what, children?


That's correct, kiddos, "Unknown" accounts for just 12GH/s of mining. Now it is extremely unlikely that "Unknown" would only be one entity, but just to be generous let's pretend for shits'n'giggles that "Unknown" is all scrypt.cc mining. K? M'Kay.

850GH/s of Scrypt
-12GH/s
---------
838GH/s of Scrypt that is apparently being pointed at other Scrypt coin networks.


. . . .to be continued but I want to just let this sink in first. I think you know what's coming next.



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June 28, 2015, 12:52:32 PM
 #2

So, hopefully the dizzying math hasn't confuzzled your brainiums too much so far.

But, now, I'm going to have to ask you to pay even closer attention, because things get *real* complimacated now:

850GH/s of Scrypt
-12GH/s
---------
838GH/s of Scrypt that is apparently being pointed at other Scrypt coin networks.

I'll shout it so you all hear at the back, MERGE-MINED COINS USE THE SAME HASH AS DISPLAYED FOR LTC SO DISREGARD DOGECOIN AND VIACOIN etc.

Don't believe me? Fine, let's show you an example of a pool mining LTC with DOGE and VIA merge-mined.


Are you able to agree, now, that merge-mined coins clearly are not to be counted as additional hashrates for that 838GH/s ?

. . . .to be continued so as to not overload with complex mathematicalistics. But I'm betting you're starting to get a sinking feeling in your little tummies about now.




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June 28, 2015, 12:53:21 PM
 #3

And Lo and behold when you go to the site of this graph it has listed at the bottom to email them to list that pool. YOU HAVE TO GET THEM TO LIST YOUR POOL. SO IN OTHER WORDS MORON, YOUR AN IDIOT!!! Only the polls that have been listed there will show on that graph. My god

Ok, cryptodevil, breathe. Don't let the stupid overwhelm your ability to type reasoned rebuttals.

*cough*

Ok Neil, how about you do us all a quick favour and pop on over to https://bitcoinwisdom.com/litecoin/difficulty and tell the class what the total hashrate is for the entire LTC network, hmmm?

How does that compare to the figure shown in the pool graph breakdown?

[While we're waiting for Neil to hear the loud clanging of that penny dropping, I'll explain it to you - The total hashrate displayed in that first graph *is* the total hashrate for the entire fucking LTC network. The 'email us to have your pool included' is to, you guessed it, notify them of your pool being part of the 'unknown' figure. The 12GH/s figure]

HEY, NEIL! WHERE YOU GOING? COME BACK AND TELL THE CLASS WHAT YOU FOUND!





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June 28, 2015, 12:53:37 PM
 #4

Anyhoo, while we wonder aloud where Neil might have got to, let's carry on with the compleximacation mathemitcallasthnetics, hmm?

So, as I was saying:

850GH/s of Scrypt
-12GH/s
---------
838GH/s of Scrypt that is apparently being pointed at other Scrypt coin networks.

First, let's take a look at the top 8 Scrypt coins you can mine which will payout more of their own coins in value than that wot u wud get frm LTC


Now, again, each of these coins have their own pools which generally account for the hashrate you see here but, just for funzies, let us play a game of pretend, ok children?

Let us all close our eyes real tight and make a wish as *hard* as we can and wish that ALL the mining of these coins is being done solely from the 838GH/s of Scrypt mining power scrypt.cc are left with after you finally accept they ain't fucking mining LTC with it.

According to the only pool I can find for Tagcoin http://tagmining.com/ it has 40MH/s hashrate. So we'll work with that figure.

When we add up all of the above network hashrates we get: 27.73 GH/s

That's ALL of them listed above and, let's not forget our fun game of pretending that nobody else is mining these coins apart from scrypt.cc, ok?M'kay.

Back to the math:

850GH/s of Scrypt
-12GH/s - 'Unknown' on LTC
-28GH/s - The entire network hashrate of the top 8 Scrypt coins
---------
810GH/s

Ooooh, it's not looking good for the next lot of Scrypt coins to list. Feeling a little nauseous now, are ya?

. . . .to be continued.





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June 28, 2015, 12:53:55 PM
 #5

Ok, class, anyone feeling a little unwell can excuse themselves and go see your therapist about learning to accept loss. While you're there, ask him to teach you some critical thinking skills.

For the rest of you, this is gonna be FUN!!!!

850GH/s of Scrypt
-12GH/s - 'Unknown' on LTC
-28GH/s - The entire network hashrate of the top 8 Scrypt coins
---------
810GH/s

We now look further down the list of Scrypt coins, to those that aren't necessarily more profitable to mine than LTC but, because so many of you little darlings want to pretend that your beloved, 'Admin' has some super-clever way to mine less profitable coins on the sly and then sell them during tiny market-value increases that *might* lift them above LTC, we'll indulge you:


So we're going to allow for PLENTY of wiggle-room here and go pretty far down this list. Digibyte shows a global Scrypt hash of 260Mh/s according to their own stats.

When we add up ALL the above network hashrates (omitting LTC obv.) we get: 14.52GH/s

Ouchie.

But, hang on, maybe something magical happens when you do the sums? Let's see:

850GH/s of Scrypt
-12GH/s - 'Unknown' on LTC
-28GH/s - The entire network hashrate of the top 8 Scrypt coins
-15GH/s - The entire network hashrate of the remaining top 20 Scrypt coins
---------
795GH/s

OH NOES!!!!

What does that mean? ARGH!!! The sky is actually fucking falling!

So, kiddlies, even if we pretend *real* fuckin' hard that scrypt.cc is mining ALL of the ENTIRE top 20 Scrypt coin networks, we're still left with 795GH/s of mining that . . .well. . .huh?

B. . .Bu. . .But. . .Marcelo!





Class is excused.

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June 28, 2015, 12:57:53 PM
 #6

If you want extra credit: Look at the trading volume in BTC on those top 20 coins, and compare that to how much BTC is being paid out by Scrypt.CC on days it actually pays. Assuming he can mine all these magic coins, where in the fuck is he selling them?

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June 28, 2015, 01:12:54 PM
 #7

Scrypt.cc is obviously a ponzi but none of those investors care about it or our words until the ponzi collapses or when they steal their coins. Undecided

@cryptodevil: You should do any other things. This is no use at all because none of the investors or potential greedy investors care our eords. Better not to waste your precious time.

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June 28, 2015, 01:20:52 PM
 #8

i dont care if they mine or not , as long as they pay out get the fuck off me man , go get a life

so you dont mind that they rob peter to pay paul ehhh.. ok i know where you stand!!

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June 28, 2015, 01:22:59 PM
 #9

i dont care if they mine or not , as long as they pay out get the fuck off me man , go get a life

so you dont mind that they rob peter to pay paul ehhh.. ok i know where you stand!!

best regards
d57heinz

Now comes the part where you'll get called a bunch of names for taking this position. It's cool though, because, THE PROFITS MAN.

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June 28, 2015, 01:24:10 PM
 #10

Scrypt.cc is obviously a ponzi but none of those investors care about it or our words until the ponzi collapses or when they steal their coins. Undecided

@cryptodevil: You should do any other things. This is no use at all because none of the investors or potential greedy investors care our eords. Better not to waste your precious time.

WHY WHY would you not want this info out there.. I dont feel its a waste of time at all.. If you want to see these scams continue then yes this isnt needed.. Just makes me wonder what it is you do or what site it is that you run??? Roll Eyes

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June 28, 2015, 01:24:58 PM
 #11

i dont care if they mine or not , as long as they pay out get the fuck off me man , go get a life

so you dont mind that they rob peter to pay paul ehhh.. ok i know where you stand!!

best regards
d57heinz

Now comes the part where you'll get called a bunch of names for taking this position. It's cool though, because, THE PROFITS MAN.

Yea im used to it   ltcgear hardened me Wink

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June 28, 2015, 01:27:26 PM
 #12

I wonder if there's an easy way to do a real-time demo of what happens when you suddenly add just 2-3 Gh/s to some of these altcoins - how quickly the diff adjusts and overtakes any profitability advantage one might have had over mining LTC. I don't think folks realize how many of the non-LTC coins adjust diff every few, or even every block, precisely to prevent larger miners from taking over.

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June 28, 2015, 01:33:27 PM
 #13

So, scrypt.cc is just a ponzi which goes very popular, so their fake KHS sales is at a very high volume that is even bigger than the current biggest pool... They maybe just intended to scam small from some users, however they didn't expect that the site goes very popular... That is, they may wanted to sell just 1 GHS for 20000 satoshi per KHS or above (that price was the KHS price there when I first joined scrypt.cc), for a total of 200 BTC, however they found this popular and hence dump more and more KHS to the market, by this estimation they may have scammed over 1000 BTC (deducted the amount that they paid as 'mining income').

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June 28, 2015, 04:15:04 PM
 #14

Scrypt.cc is obviously a ponzi but none of those investors care about it or our words until the ponzi collapses or when they steal their coins. Undecided

@cryptodevil: You should do any other things. This is no use at all because none of the investors or potential greedy investors care our eords. Better not to waste your precious time.

I surely agree with you, I don't care with my btc in there because I'll never get ROI..,!
what i believe is scrypt.cc are ponzi! Undecided


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June 28, 2015, 04:28:45 PM
 #15

Are you trying to say that a cloud mining company is a scam? Say it isn't so Cheesy


I don't think the OP is wrong to make this warning to potential investors. Some people are simply naive and are willing to believe nearly anything they are told as long as it "sounds good".

If you were to ignore the fact that pretty much every cloud mining company is some kind of scam, then once you look at the LTC network's hashrate, the network distribution of LTC and the claimed hashrate of scypt.cc, it should be pretty obvious that they do not actually control the hashrate they claim to control/own


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hroub
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June 28, 2015, 04:29:33 PM
 #16

Wow. I feel like this thread started because of me Tongue

Good job

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June 28, 2015, 04:35:43 PM
 #17

Wow. I feel like this thread started because of me Tongue

Good job
Maybe you should takedown that referral link from your signature if you are in agreement that this is a scam site/ponzi


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June 28, 2015, 05:48:52 PM
 #18

i dont care if they mine or not , as long as they pay out get the fuck off me man , go get a life

Ahh yes. "Fuck you, got mine" rears it's ugly head.
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June 28, 2015, 06:51:53 PM
 #19

i dont care if they mine or not , as long as they pay out get the fuck off me man , go get a life

That's the thing, they don't pay out. Curtain is closed, but few of you people are still sitting in the audience, waiting for the performer to come back.
You should find some more legit sources of income. With ponzi's you are either loosing money, or getting paid with other people's money.

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June 28, 2015, 06:57:05 PM
 #20

Just about every single cloud mining service in existence went bankrupt and began defrauding people following the price decline this past year.

Even cex.io, which has tons of money, turned off all mining unless you want it on. They just require you have Bitcoin in your balance for the negative profits. So everyone who had purchased GH/s lost their entire investment even though cex.io still had most of the money and could've bought new equipment, which is probably what they should've done if they had any respect for their customers, especially since all their equipment was old as fuck and they were selling miners right before they break.

It's simple, mining is not a profitable business unless you have millions of dollars and a direct hookup to Chinese manufacturers. Whenever someone propositions mining business I shut them down hard, and they usually don't listen and blow money.

And that's for Bitcoin mining, altcoin mining is not profitable under almost any circumstance.

Easy tiger. Mining's still plenty profitable if you have the right equipment and a decent power rate. But that's you owning your own miners. And Hashnest is still plenty profitable right now. This is a scam thread for Scrypt.cc and not a platform to rant on the general state of mining. I remember you being a pretty reasonable dude when we did Doge deals back in the day...

Hand-carved Bitcoin stamps for sale: https://bitcointalk.org/index.php?topic=1247131
2 for $25 including shipping
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