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Author Topic: Maybe this is the way these ponzis are lasting  (Read 1091 times)
Rizla2345
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April 09, 2016, 10:26:38 AM
 #21

It´s scum utilizing other scum for a fee (referral) to round up victims. You´ll see this referral scum bragging on the threads about how they made ROI, to get more victims. Or so it used to be, maybe it doesn´t work so well anymore so many of these scams have folded that most people are probably getting wary.
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beel
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April 09, 2016, 11:33:36 AM
 #22

how about hashocean its been running more than 1 year now i guess
Rizla2345
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April 09, 2016, 11:51:05 AM
 #23

It´s those "lifetime" contracts which are especially attractive to people that aren´t familiar with bitcoin mining. They don´t understand that lifetime really refers to the equipment, how long that can profitably eke out some coin. I guess most people don´t know that mining is a question of a ballooning equipment and hash power chasing a fixed daily supply of coin. So the more hash the less for each miner on average until the gear isn´t profitable anymore and therefore defunct, useless. This lifetime concept helps both the scammers and legitimate operations in their marketing.
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April 09, 2016, 04:31:37 PM
 #24

how about hashocean its been running more than 1 year now i guess
I'm guessing it's still alive because they keep getting new investors, and that people reinvest their bitcoin. If you made a 1.5 multiplier on your money by doing nothing, the idiots will put their profits into 'cloud mining' as well.
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April 09, 2016, 05:49:36 PM
 #25

In my personal experience, most of ponzis are surviving on beginners and new investors. Some people are aiming for affiliate earning to recover their investment is short term. Internet always provide world wise business opportunity, so all new business are able to get new people from some part of the world who come front to risk their money for different reasons.


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Hashminers
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April 09, 2016, 06:26:51 PM
 #26

It´s those "lifetime" contracts which are especially attractive to people that aren´t familiar with bitcoin mining. They don´t understand that lifetime really refers to the equipment, how long that can profitably eke out some coin. I guess most people don´t know that mining is a question of a ballooning equipment and hash power chasing a fixed daily supply of coin. So the more hash the less for each miner on average until the gear isn´t profitable anymore and therefore defunct, useless. This lifetime concept helps both the scammers and legitimate operations in their marketing.

Yeah the term lifetime is very misleading. Since there is no way the contracts will last a lifetime. In the best case scenario it would be for 1.5 year.
And so people buy into this kind of ponzi's/ scams.

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April 09, 2016, 06:31:10 PM
 #27

just simple like networking the more investor to come the more they continue, ponzi always rely on the numbers of investors that will joined them and as long as their are patronizing it the long live they gonna have. i have a free account from cldmine for almost 4months now but did not get any thing because of the amount that is needed before you can withdraw to the point that I already gave up.

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Rizla2345
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April 09, 2016, 06:34:22 PM
 #28

It´s those "lifetime" contracts which are especially attractive to people that aren´t familiar with bitcoin mining. They don´t understand that lifetime really refers to the equipment, how long that can profitably eke out some coin. I guess most people don´t know that mining is a question of a ballooning equipment and hash power chasing a fixed daily supply of coin. So the more hash the less for each miner on average until the gear isn´t profitable anymore and therefore defunct, useless. This lifetime concept helps both the scammers and legitimate operations in their marketing.

Yeah the term lifetime is very misleading. Since there is no way the contracts will last a lifetime. In the best case scenario it would be for 1.5 year.
And so people buy into this kind of ponzi's/ scams.

In a legit operation it depends mostly on the difficulty increase I guess. And the dollar price if maintenance is calculated in dollars. The lower the BTC price the more satoshi towards those fees. It´s likely to be worthless within a year I think and practically worthless some time before that although it may pay out some meaningless dust.

If the BTC price is rising more hash will be added to the network and the difficulty will rise wiping you out that way. If the price falls you´ll be killed by the maintenance costs. It´s lose-lose on average.
BitMaxz
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April 09, 2016, 06:54:48 PM
 #29

ponzi only have a short time of life because even if they have so much investor it will come a day that the owner will descover that he can't pay the others so he will run away with all bitcoin he have and turn to scam. even if you have 3 new invester a day and the old one reinvest in the ponzi there is no chance.
yeah your right they running all our investment they are only good in the first time you invest just to attract people to invest more until you invest and increase your investment.. after that they ran..

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April 09, 2016, 08:09:18 PM
 #30

If they are surviving for a long time it's because there is people feeding them. People are still investing on it, so they can continue "working". Better for them because this kind of thought feed the hope of people like OP that believe that they are legit.

"They are paying for some months, maybe they are legit...". Unfortunelly it's just another scam site...  Sad

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April 10, 2016, 06:22:27 AM
 #31

According to me, nothing but they are just moving others' money ahead by robbing Peter to pay Paul...
Ponzis are definitely not at all trustworthy and if you think you should invest, do it at your own risk, but that too by researching and not just get involved with your eyes closed...

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April 10, 2016, 11:43:55 AM
 #32

I have been think thoroughly regarding 2 cloud mining which are ponzis without any doubt and are cldmine and topmine. How come these website are still alive (well topmine is new 1.5 month old) but Cldmine is about 6 months now and not many people know it. I have arrived at the conclusion they are mining GPU-s maybe and thats how they can continue to stay well more than 6 months available, as mining DOGE is not really difficult or any other alt crypto which can be easily mined. What do you think of this ?

it is a nice theory but the problem with this theory is that if they want to mine, they would go legit and use GPUs or even mining equipment, meaning they would invest in it to really mine and share in the reward (even very small amounts) with their investors.

but scams do not want to spend anything, which means they would use the cheapest plan, only a domain and a hosting plan to put the website up. there is no more to that in order to mine even with GPU they would at least need a VPS or something like that which will cost which will lead to less money earned through their scam.

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