Amit Bhardwaj, the Gainbitcoin thief and liar.

[skang]

Thats not Amit Bhardwaj.
He is:


The address for gainbtc scam is 1EYSiRC2nUi2xLMTuwkWhHtpTTVVZ6KNrz.
The address has received about 13000 bitcoins till date(53 crores+ in today's value).

I have done some chain analysis on this address.
Let me know if somebody is interested in knowing the info e.g. when some of this btc were sold and on which exchange etc.

[1715176681]

1715176681

[1715176681]

1715176681

[tmfp]

Thats not Amit Bhardwaj.
He is:

I know.
I am referring to another Amit (Jaiswal) who used to promote Gain and has now gone out on his own with an MLM scam called Powerhashing.com, also based in the Dehli area.
I wonder if they know each other?

[Rotten Egg]

Thats not Amit Bhardwaj.
He is:


The address for gainbtc scam is 1EYSiRC2nUi2xLMTuwkWhHtpTTVVZ6KNrz.
The address has received about 13000 bitcoins till date(53 crores+ in today's value).

I have done some chain analysis on this address.
Let me know if somebody is interested in knowing the info e.g. when some of this btc were sold and on which exchange etc.

I know.
I am referring to another Amit (Jaiswal) who used to promote Gain and has now gone out on his own with an MLM scam called Powerhashing.com, also based in the Dehli area.
I wonder if they know each other?

I wonder, whether Amit Bhardwaj is anyway related to Pankaj Bhardwaj. For those who dont know, Pankaj Bhardwaj aka escrow.ms is an ex-employee of CoinSecure.in and is now arrested for card fraud.

[tmfp]

Whatever happened to Highkart, by the way?
Amit?

[Rotten Egg]

Whatever happened to Highkart, by the way?
Amit?

They turned into a cloud mining ponzi, when people were still learning about PB mining.

https://bitcointalk.org/index.php?topic=561264.0

Interestingly, Amit has left his phone no. over there, so that people can provide this no. to Delhi police to nab him down.

Regards,
Amit Kumar
09971955204

[tmfp]

Whatever happened to Highkart, by the way?
Amit?

They turned into a cloud mining ponzi, when people were still learning about PB mining.

https://bitcointalk.org/index.php?topic=561264.0

Interestingly, Amit has left his phone no. over there, so that people can provide this no. to Delhi police to nab him down.

Regards,
Amit Kumar
09971955204

So the timeline was April-October 2014 and then Highkart basically ceased to exist?
No retail Bitcoin platform, nothing, as was promised in the press at the time?
Why did he never get negative trust, was there no comeback for him at all, he could just carry on?

He can just come back a couple of years later, spin this bullshit and no-one says anything? WTF?

 

@tmfp

Hi,

Just to introduce I am Amit here....
Just FYI we are not a "scam" and sincerely trying to do a respectable job. In this industry where u find scams every day on cloud mining, managing our position is very difficult for us and hence we don't market it too much unless a good set of customers have tested our services and attest to he genuinity of it.
......
We are currently running a 7-8 Phs mining setup for our customers and surely are one of the counted top miners in the world. We command a lot of respect in mining community across China and work directly with manufacturers, you would hear some great announcements very very soon from our side globally!


Regards,
Amit Bhardwaj

[tmfp]

Immediate removal of thread "Amit Bhardwaj/Kumar"
« Sent to: tmfp on: August 01, 2016, 04:54:35 PM »
« You have forwarded or responded to this message. »
 
!!! WARNING: This user is a newbie. If you are expecting a message from a more veteran member, then this is an imposter !!!


Dear TMFP (anonymous name)

This is in regard to posting of thread https://bitcointalk.org/index.php?topic=1440600.0 with the subject "Amit Bhardwaj/Kumar and a HashOcean clone called Gainbitcoin."

You are hereby requested to immediately delete the above-mentioned thread as there are various derogatory, slanderous, incorrect and wrongful remarks/facts/ comments/views which are being posted in this thread. If you do not remove this thread then we would be compelled to take immediate legal action against you under Section 499 read with Section 120B of Indian Penal Code an also take other necessary remedy actions against you.
 Also, if you intend to post this message on the thread then I would like to apprise you of the fact that it may further amount to slandering, which is a punishable offence..
I assure you if the thread is removed within 24 hours then no Action will be taken.

Regards
Arpit Jain, Advocate
+91-9599743848


Re: Immediate removal of thread "Amit Bhardwaj/Kumar"
« Sent to: bit.adv on: August 01, 2016, 07:50:27 PM »
 
Quote from: bit.adv on August 01, 2016, 04:54:35 PM

Dear TMFP (anonymous name)

This is in regard to posting of thread https://bitcointalk.org/index.php?topic=1440600.0 with the subject "Amit Bhardwaj/Kumar and a HashOcean clone called Gainbitcoin."

You are hereby requested to immediately delete the above-mentioned thread as there are various derogatory, slanderous, incorrect and wrongful remarks/facts/ comments/views which are being posted in this thread. If you do not remove this thread then we would be compelled to take immediate legal action against you under Section 499 read with Section 120B of Indian Penal Code an also take other necessary remedy actions against you.
 Also, if you intend to post this message on the thread then I would like to apprise you of the fact that it may further amount to slandering, which is a punishable offence..
I assure you if the thread is removed within 24 hours then no Action will be taken.

Regards
Arpit Jain, Advocate
+91-9599743848

Dear Arpit Jain

Please clarify which parts of my posts you consider to be "derogatory, slanderous, incorrect and wrongful".

Regards

TMFP



Re: Immediate removal of thread "Amit Bhardwaj/Kumar"
« Sent to: bit.adv on: Today at 08:42:41 AM »
 
Dear Arpit Jain

As you have not seen fit to reply to my reasonable request for clarification of which parts of my post you find contentious, I have forwarded your message to my legal advisors and received confirmation that your threats are empty, for various reasons, and will be ignored.

The thread in question merely asks for clarification of certain inconsistencies in Gainbitcoin's publically made claims and in no way is an attempt to defame Bhardway/Kumar or his various operations.
Your unsolicited and unverified threatening message has no basis in law or fact and could be seen as an attempt at extortion, where the tangible benefit to you would be receipt of fees for misleading advice that there is a case for me to answer, which there emphatically is not.

Any further communication on this subject will only be responded to on receipt of your full professional details and written confirmation from Amit Bharwaj that you have authority to act on his behalf.

I am appending this series of messages to the thread in question in the spirit of transparency. Your threat of proceedings against me for slander for doing so are without legal basis.

Regards

TMFP

[Slow death]

Oh the guy decided to show up ...

Create account to say that you should delete this thread, how does he know about this thread? Amit Bhardwaj/Kumar has been following this thread? It has other accounts here in the forum? something offended you in this thread? as Amit Bhardwaj/Kumar does not show evidence (if he can) that he is being wronged?

I took over 8 hours to read all thread who are directly or directly related to this guy "Amit" frankly, this guy "Amit" has a story that would make for a lot of books.

I think the title of the book is: "The amazing feats of Amit: The king of bitcoin or a great charlatan"

[skang]

I think Benson needs to comment here.

[Benson Samuel]

I think Benson needs to comment here.

They called me as well. 
I looked through this, and all the information across this thread is from public sources.
Questions, and clarifications are what the forums are for.

If there is any particular offending thread, I can be mailed with specifics and will request the poster to remove those lines of content.
Also, from what I know, no one on the forums will not oblige a request to delete few lines of a post that may not be correct.

Flagging this thread with theymos as well.

[tmfp]

Well, some will be glad to hear that I'm not being extradited/waterboarded/dragged to the High Court for asking a few questions about Gainbitcoin and Mr. Bhardwaj/Kumar. (Somebody be kind enough to explain the multiple surname scenario sometime? I'd be obliged).
 
So, I just thought I'd have a look to see how Gainbitcoin is going along since the halving.
It's difficult to assess the overall effect of the halving on miners, as it's difficult to work out their base costs and profitability, but according to https://blockchain.info/charts both total hashrate and difficulty have not substantially changed, whereas income has halved. Unsurprising really, guess that's sort of why it's called halving.
Tough times for marginal miners without the latest low power consuming hardware.

Gain's Mining FAQ's are still rather confusing for potential clients that may want to mine Bitcoin, as they only refer to Radeon video cards used for scrypt mining, with no similar information regarding their ASIC hardware.

The main change however, is this

CONTRACT COSTS PRE HALVING



CONTRACT COSTS POST HALVING



Wow, the name change to "Amaze" is totally appropriate!
A massive decrease in hashrate charges, for 1BTC you now get 1500 G/hs, against only 400 pre halving! 

Sounds like a bargain, comparatively certainly for any new investors, but if I had a pre halving 18 month contract I'd be a little bit miffed at how drastically I had overpaid. Caveat Emptor, I guess.

As I showed with the previous coinwarz calculations, Gain's pre halving mathematics were a bit, errr, difficult to understand. Maybe it was just me being stupid, so let's use coinwarz again slightly differently, just putting in 1.5 T/hs with no running costs, and see what happens




Coinwarz shows that 10 months of mining at current difficulty and price with 1.5 T/hs of hash equals $336.10 gross. 
But Gain say that should be $600, as 10 x 10% = 100% ROI of $600...
Full ROI in 535 days/300 days?

I guess coinwarz must be wrong. I never was much good at maths. There can't be any other explanation....can there?


Just looking back thru the thread, fruitlessly scanning for slander, libel, lies etc. I notice that the mug shot of Mr. Bhardwaj/Kumar is now showing as an "invalid image".
That's because the website from which it was taken, bitcoinalliance.in no longer exists.
It redirects to a brand spanking new exchange site called buyucoin.com.
As the Merkle points out, a brand new exchange on a brand new website should be treated with caution, especially when

...the website uses an online HTML form to complete the verification procedure. There is only one page to create an account, and some interesting details are being asked. Not the most secure environment to host such a form, and it may turn away some users in the long run.

Anyway, all good that there's new people coming in and providing Bitcoin services, so Good Luck to Shivam Thakral of Hapur.
Shivam's obviously enthusiastic, as his 34 Bitcoin related posts (with 1,100 views in only one month!) on Quora bear witness to.

Funnily enough, one of the questions he answered was about Mr. Bhardwaj/Kumar and Gainbitcoin. Small world.



100% legit.

[Joel_Jantsen]

I think Benson needs to comment here.

Why would some care what the fuck Benson says ? He is nothing to Indian bitcoin community but just a lazy mod on this forum since he was one of the few to sign up here.Nothing more but runs an exchange which secretly keeps tracks of the user data.Anyhow,Gainbitcoin is a pure shit scam.Check out their FB closed group and related views.Mister Bharadwaj should be beaten in public.If anyone is willing to take this ahead through law,do message me.I have my lawyers ready,just not enough evidence.

[skang]

Why would some care what the fuck Benson says ?

I think it matters because Benson has a control over the content allowed here and this thread could possibly contain evidence, while legal notices have started coming in for posters in this thread.

.. have my lawyers ready,just not enough evidence..

What kind of evidence would be helpful?
We have unproved deceitful information that they claim to be true.
It can be mathematically shown that the financial results claimed cannot be realized.
Maybe you could ask for proof of their mining operations, as a customer?

[Benson Samuel]

I think Benson needs to comment here.

Why would some care what the fuck Benson says ? He is nothing to Indian bitcoin community but just a lazy mod on this forum since he was one of the few to sign up here.

Lol, somewhere butthurt somehow.

Nothing more but runs an exchange which secretly keeps tracks of the user data.

What does this mean? Secretly?

[skang]

Just want to point out that Amit's image linked above is no longer available now.
It is very strange since it was hosted on bitcointalk.org proxy.

[tmfp]

Just want to point out that Amit's image linked above is no longer available now.
It is very strange since it was hosted on bitcointalk.org proxy.

You mean this one?



As far as I can see, it was just linked to the now nonexistent website and when that was wiped, so was the image @ bitcoinalliance.in/wp-content/uploads/2014/09/amit.png

There are a few pictures of Amit still in the wild, he looks like he's put on a bit of weight in the last year or so.
That's if the 1bitcoindaily Gainbitcoin promotional/affiliate website (run by the 2 post newbie who replied to my original post on this thread) is anything to go by.
(I would think twice before visiting 1bitcoindaily's website as the https certification appears to now be invalid. Surely just an oversight, as he is posting Bitcoin related spam like a mad thing on the Gainbitcoin FB atm [19,462 likes! wow], linking to it.)

1bcdaily has four rotating images under the heading:

Pictures from behind the scene

Images from GainBitcoin Mining Facility

One of them shows a factory in a state of construction and two others show Amit? in what looks like a PCB manufacturing unit, one of them standing in front of an industrial soldering machine.
Although Bitcoin miner manufacturing obviously requires PCB's, the environments of a Bitcoin mining facility and a pcb manufacturer are mutually toxic.



Maybe that's not supposed to be Amit, but the implication is clearly that it is, otherwise what's the point?

The fourth image shows a very impressive close up of mining equipment



Which rather resembles an old image from an article about the U.S. operation MegaBitPower. Well it more than resembles it, it is the same image. Confusing.

There is an Amit Bhardwaj who helped develop an interesting site called easemylife launched about a year ago.
This Amit Bhardwaj

is actively associated with the bitcoin community in India.  

and his picture in the linked article resembles the deleted one, maybe plus a bit of weight.

The 1 bitcoindaily thing also mentions the opaque

About Company
VariableTech Pvt Ltd is a Singapore based venture.

"Mark Lee's" background organization.

I was under the impression that Amit was the Founder and CEO of Gainbitcoin, but not according to Linkedin



So, if one was looking for an up to date image of Amit Bhardwaj/Kumar, (some old fashioned people like to know who they are dealing with), then where would one go?

The obvious answer would be http://www.nexgenfmpl.com/ of course, Amit's software company which, according to 1btcdaily's post proudly counts both EasemyLife and Gainbitcoin among its clients.

You could if



Never mind, I'll try again, surely just some Monday Maintenance...
 

[tmfp]

[underwater]

Hi there.. i may be joining the discussion a little late. However I got some informative bits about gainbitcoin. I checked the internet archives for gainbitoin.com and here are some snapshots since 2013 (the year of formulation of gainbitcoin as per their website) and found that from 2013 to 2015, this website was a totally different one and in-fact scarier:

link below for snapshot from the website dated 04-April-2013
http://web.archive.org/web/20130421015451/http://gainbitcoin.com/

Below links are from 22-May 2013
http://web.archive.org/web/20130522031718/http://gainbitcoin.com/

Then about similar snaphots for may other months below a snapshot of 19 Dec 2014
http://web.archive.org/web/20141219194628/http://www.gainbitcoin.com/

Even 5 Jan-2016 was no change.
http://web.archive.org/web/20150105001907/http://www.gainbitcoin.com/

The earliest Gainbitcoin page snapshot available on internet archives is that dated 12-Dec-2015. whether the formulation of the company really was 2013 is questionable. Since 2013 through 2014 and part of 2015, the gainbitcoin.com is existent but that is evidently a different company that looked scarier.

Even on this page (Dec 2015) , the contact info and email id given are of variabletechs@gmail.com – have a look at the below link and the contact info page. I believe that the site is under development phase on this day.
 http://web.archive.org/web/20160119101651/https://gainbitcoin.com/
 
 
Even on current day the email IDs in contact info is of variabletech@gmail.com while the footer of the main page says support@gainbitcoin.com

Further, a whois search on this website reveals below info

http://www.netim.com/domain-name/whois-search.html
registered in Singapore in the name of Mark Lee.

They claim that they mine from China. However no location they reveal even a search on maps return unsuccessful. Their one video has (most probably) the owner of the company in their supposedly mining farm of China and other video (that is shown to potential customers in India) is of a lady going by the same surname showing the same farm in China in that selfie video.

The only purpose of sharing above details is that here they adopt various methodologies to get customers under MLM schemes. they quote reasons from nationality to getting quickly rich to get people (which is not unsuitable in a sense in-fact).

But, in my understanding, everything in public domain should be questioned and even the company which is being questioned must justify. If you are approached by this company you should ask them these questions directly and let them answer. If all seems good to you then happy earning to you.

Cheers!

[puneetk]

Hi guys,

I came across this thread as I was approached to invest in GainBitcoin by someone who has already invested 30 BTC there. It seemed unrealistic to me and after seeing this thread and other similar ones I am not sure.
I reached out to some people who are involved with GainBitcoin and I was given some of the below data/images to prove it's real.

Honestly I am not well-versed with Bitcoin mining so I can not verify its legitimacy. Incase any one here can use these to prove/disprove whether GainBitcoin is a legit investment or a Ponzi scheme would be great help and possibly bring conclusion to this thread and the mystery surrounding the company and Amit Bhardwaj/Kumar.

I started by asking a few questions (based off of some posts here and in similar threads) -

1. What is their public cloud mining IP

Their cloud mining IP is 52.66.51.105     

The public IP address has currently been migrated to IPv6 address and that is  2400:cb00:2048:1::681f:5f6a               

2. Is there a user selectable pool?     

There is no user selectable pool. Gainbitcoin team manages the pool selection to get maximum mining returns

                   
3. Who is their asic vendor?             

Gainbitcoin uses Antminer S9 to mine Bitcoins

         
4. How many hashrate have they sold vs how many hashrate they have in total
 

You can open your gainbitcoin account and it shows monthly stats of all contracts sold over the period of month

                       
5. What is exit strategy? (If I want all my money back within 1 month)

Gainbitcoin is taking steps to comply with all guidelines of government and law

6. Endorsement from the vendor?

There are no endorsements mentioned on Asic miners websites because these Companies have many clients and cannot endorse just one of the websites

I was also forwarded this message regarding some cooling period they are introducing starting October

Hi Friends,

Important update:
In order to comply with the new guidelines on Direct selling
Gainbitcoin will be implementing one of the important required modifications from October 1st oct

All sales will have a cooling period of 1 month for product and direct selling incentive, for example all sales logged in from 1st oct to 15 th oct will get there
1)   Mining Income
2)   Direct referral income
3)   Binary/ Pair income
On 16th of November
And sales logged in between 16th oct to 31st oct incentive will come on 1st of December.
 So people who have opened their big pools of 250,500,1000 or more have last chance to get their balance in 6 days otherwise from next time 30 days .so pls close them asap before 30thseptember.

I also received videos of people who have visited their mining farms in China:-
https://www.youtube.com/watch?v=lnVke_hD5R4
(Rest are in dropbox link)

Finally, I was sent some images which was supposed to prove something - but to be honest I couldn't make heads or tails of it.

Dropbox link for photos/videos - https://www.dropbox.com/sh/oj248xr42v6pl8j/AACRaxxkZ3BoL_k3lgOORoa2a?dl=0



I hope this helps solve the mystery and someone can look into this matter asap!

[tmfp]

Ignoring the lies, contradictions, behaviour and general seediness of Gainbitcoin and its operatives, the bottom line here is... "Will I make a profit if I give Gainbitcoin money?"

According to them, you will be paid back ~10% a month of the money you give them in the first place. So, for ten months, they are giving you your "investment" back in installments. After ten months you are back where you started.
As their contracts are 18 months, then a further 8 x 10% is your profit.
(If they still exist, haven't been "hacked" or unilaterally cancel your contract [see Genesis, Bitclub etc.].......18 months is an aeon in BTC)

Let us accept, for the purpose of this exercise, that they mine with S9's.
Also, for simplicity's sake, let us say that those S9's hash at 12.5 Th/s, so when you buy an "Amaze A5" (25 Th/s) package you effectively lease the output of two S9's for eighteen months.



This will cost you 13.75BTC, $8250 at $600 exchange.
According to Gain's figures, at the end of your 547 day contract you will have received 18 x 10% x $8250 = $14,850.

A net profit of $6,600

Back in the real world, let's use Coinwarz calculator^{1}.

I have reduced the power consumption pro rata 0.098 J/Gh to 2450 watts for 25 Th/s of S9.
I have put pool fees to zero.
I have used $0.06 for electricity. It looks like they are banditting electricity in their videos, so let's make this a general overhead figure. (Way too small).
With these highly optimistic cost figures* (in Gain's favor), what do we get?

Days to break even, 681.36.

According to Coinwarz's figures, at the end of your 547 day contract you will have received 547 x $12.11 = $6624.

A net loss of $1626

Who do you believe, Bhardwaj/Kumar or Coinwarz?
Hmmm.....




*Costs. The $0.06 Kwh I used is deliberately derisory as an overall cost of operation. Also to take into account before the gross S9 revenue gets to your account are:
Capital cost of equipment
Maintenance of provenly unreliable S9's and subsequent down time
On site wages
Bribes
Mark Lee
Flights for the family
Indian based infrastructure
Kartik Kanwar's suits
MLM Referral commission structure (can reach 30% of gross revenue), including rake off for Ver(manen) and Guzda (YT vid) to throw away into FutureNet



{1}
Coinwarz does not attempt to predict difficulty increase. As difficulty increases, rewards will drop.
In the last year, Bitcoin mining difficulty has increased by a factor of ~5.
Should the next eighteen months continue this trend (and why should it not?) but only double, then rewards will be cut by 2/3.

The moral of this story is: Do not buy cloudmining contracts under any circumstances, especially when the seller lies thru his teeth about ROI.