Amit Bhardwaj, the Gainbitcoin thief and liar.

[virtuado]

Hi,

With great interest i've been reading most of this topic. Pros and cons allover the place...mostly cons.  

I understand that bitcoin mining is a shady place, and like all the mining companys lots of folks have big question marks with Gainbitcoin too.


There are not many positive true experiences about Gainbitcoin mentioned here, that's the main reason i wanted to add a comment.
I've subscribed with Gainbitcoin since April 2016, and so far everything went smoothly, payments are on time untill today.  
I honestly think, certainly after the halving that their payouts are good.

But i can't deny if i read all the info, and  more specifically about Amit Bhardwaj/Kumar and it's possible connection? with the HO scam that i've my doubts too. At least i 've my money back so whatever happens happens.....

What i really don't like is the obligation of Gainbitcoin to use Coinbank now.  This has nothing to do with decentralization anymore, and their reason to add extra security is imho pure nonsense.
The application is very simple and not safe at all.   .
The app doesn't even have an automatic lock function like for example the blockchain app has. Once you logged out there, you have to give the password or fingerprint to gain access again. But coinbank is accessible all the time, even when you restart your device.
If you read the info about this app it adds extra security, but didn't discover yet what kind of.... It only gives Gainbitcoin more power.


tmfp over....

[bpanther]

Guys I really appreciate the time and effort put out by some of the members to take out so much calculations and facts. Although no one have any personal motive but still this much effort is commendable. I was also researching GBC for long time and took lot of user feedback which turned out to be positive as there is not issues with payouts. I myself also put some calculations in place and somehow their model looks feasible.
Current BTC mined per 10 minutes (average): 12.5 BTC
Current BTC mined per hour (average): 75 BTC
Current BTC mined per day (average): 1800 BTC
Current BTC mined per month (average): 54000 BTC  
GBMiners Hashrate: 5% of total available on Blockchain
GBMiners mined bitcoin per month: 2700 BTC
They may have been earning some transaction fees as well.

GBC contract validity: 18 Months
Average life of mining hardware: 4 years (estimated)
Months left after user’s contract expires: 30 Months

Now see, how is it happening. The hardware purchased by any user will server atleast 18-30 more months and their hashing power is increasing day by day for new users. That is the reason, they go with very rough calculations because they know this can be done this way.
I feel this is that magic which is working for them, I can’t say they are scam because of committed payout. They have kept the contract prices same even after prices went nearly 3 times high in a year and with that they can plant more servers or can sell the BTC bulk at peak prices and can buy at lower rates after the crashes.
I feel Amit will not highlight himself so much if he is not genuine because wherever he will stay after any scam, govt. will catch him bcz the amount at stake is very high here. They are saying that they are getting registered in India in March 2017, and if this happens people will not face any issue in my opinion.

[virtuado]

Are people stark raving mad for accepting the BS being fed by the GainBitcoin grapevine called MLM?

Transaction Fees totalling 1000 BTC per day? This calculation given by bpanther has just been edited and removed because this is the BS being fed in the GB MLM grapevine.

https://en.bitcoin.it/wiki/Transaction_fees

GAINBITCOIN WILL WORK TILL THE DAY INCOMING MONEY IS MORE THAN THE OUTGOING MONEY. PERIOD. The day Amit Bhardwaj feels that the incoming is slowing down and the outgoing has reached a peak, you will not even know where to find him, forget getting your REGULAR RETURNS , you will have lost your investments also.

7 Lakh people lost their money in Hash Ocean scam, I dont know how many more will lose here before some sense prevails.

FOR BPANTHER (AFTER YOUR REMOVAL FOR TRANSACTION FEES OF 1000 BTC CALCULATION)

As per your calculation, GBMiners is making 2700BTC in mining profits per month. Right?? This is 10% of 27000 BTC. Right?

So as per this calculation, GainBitcoin can pay people only upto contracts worth 27000 BTC. Right?

As per their member backoffice, contracts sold in the last 90 days are worth more than 50000 BTC.

By what logic are they gonna pay off everyone with 2700 BTC??

Not everyone is raving mad about GB, but i guess the thing is just that not everybody has bad experience(so far...).   Untill this moment they delivered as promised, i can speak for myself.
As mentioned in my previous post, i have some doubts too.
Basicly what grabbed my attention was,  that after the halving their payouts remained the same, while for example the payouts with Genesis-Mining decreased with more then 50%...which is more logical.  And what is even more interesting is that the new contracts still have the same ROI? 

[tmfp]

Current BTC mined per month (average): 54000 BTC 
GBMiners Hashrate: 5% of total available on Blockchain
GBMiners mined bitcoin per month: 2700 BTC
Total transections on blockchain per day: 200 Million
Lets assume GBMiners validate 5% transections with an average fee of .0001 BTC:
Total transections: 10 Million
Total earning per day: 1000 BTC (This can be lower)

It's good to see people attempting analysis, but the old saying of "There's lies, damn lies and statistics" comes to mind.
Also protip: beware the decimal point.

If GB miners and Gainbitcoin are synonymous, then 5% share of the hashrate will accrue 5% of the total mining reward (dependent upon luck), so it would be reasonable to say that their gross daily income would be in the region of 100 BTC. (Struggling to maintain 3%,~60BTC atm.)
That's only part of the equation though.
Resorting to the ridiculous to make a point, if I had an infinite number of monkeys (no offence to monkeys) and an infinite number of pieces of paper and pencils, then I could have them make an infinite number of calculations and mine an infinite number of anything.
The cost, however, would also be infinite.

Also a factor is the amount of future debt (mining contract repayment commitment @ 10% monthly ROI) that needs servicing from this gross income. This is unknowable without information about how many contracts Gain have sold.
Gain reminds me of Bitclub Network in some ways, MLM selling orientated not least. When BCN realised they had hugely oversold their hashrate, they just unilaterally cancelled early contracts.

GBC contract validity: 18 Months
Average life of mining hardware: 4 years (estimated)
Months left after user’s contract expires: 30 Months

Now see, how is it happening. The hardware purchased by any user will server atleast 18-30 more months and their hashing power is increasing day by day for new users. That is the reason, they go with very rough calculations because they know this can be done this way.

This is not relevant to the fact that they promise a return of 10% per month (i.e. 0.1BTC) if you buy 1.5 Th/s for 1BTC from them.
At current difficulty, that 1.5 Th/s will mine 0.05604730BTC per month (gross of all costs).
Where does the missing 0.0439527BTC come from?
 

I feel this is that magic which is working for them

I'm uneasy with the use of the word "magic" when discussing cloud mining.

I can’t say they are scam because of committed payout.

On that basis, would you have invested in Bernie Madoff?

They have kept the contract prices same even after prices went nearly 3 times high in a year and with that they can plant more servers or can sell the BTC bulk at peak prices and can buy at lower rates after the crashes.

This is speculation about speculation. Gainbitcoin sell mining contracts.

 

I feel Amit will not highlight himself so much if he is not genuine because wherever he will stay after any scam, govt. will catch him bcz the amount at stake is very high here. They are saying that they are getting registered in India in March 2017, and if this happens people will not face any issue in my opinion.

Why Mr. Bhardwaj does what he does and the mental processes behind it are unknown to anyone apart from him.

Edit: I drafted this post when I had 5 minutes earlier on, before bpanther edited his. Most points still stand though, especially the conundrum

...they promise a return of 10% per month (i.e. 0.1BTC) if you buy 1.5 Th/s for 1BTC from them.
At current difficulty, that 1.5 Th/s will mine 0.05604730BTC per month (gross of all costs).
Where does the missing 0.0439527BTC come from?

I would be really interested to know.

[lordquanta]

Are people stark raving mad for accepting the BS being fed by the GainBitcoin grapevine called MLM?

Transaction Fees totalling 1000 BTC per day? This calculation given by bpanther has just been edited and removed because this is the BS being fed in the GB MLM grapevine.

https://en.bitcoin.it/wiki/Transaction_fees

GAINBITCOIN WILL WORK TILL THE DAY INCOMING MONEY IS MORE THAN THE OUTGOING MONEY. PERIOD. The day Amit Bhardwaj feels that the incoming is slowing down and the outgoing has reached a peak, you will not even know where to find him, forget getting your REGULAR RETURNS , you will have lost your investments also.

7 Lakh people lost their money in Hash Ocean scam, I dont know how many more will lose here before some sense prevails.

FOR BPANTHER (AFTER YOUR REMOVAL FOR TRANSACTION FEES OF 1000 BTC CALCULATION)

As per your calculation, GBMiners is making 2700BTC in mining profits per month. Right?? This is 10% of 27000 BTC. Right?

So as per this calculation, GainBitcoin can pay people only upto contracts worth 27000 BTC. Right?

As per their member backoffice, contracts sold in the last 90 days are worth more than 50000 BTC.

By what logic are they gonna pay off everyone with 2700 BTC??

Not everyone is raving mad about GB, but i guess the thing is just that not everybody has bad experience(so far...).   Untill this moment they delivered as promised, i can speak for myself.
As mentioned in my previous post, i have some doubts too.
Basicly what grabbed my attention was,  that after the halving their payouts remained the same, while for example the payouts with Genesis-Mining decreased with more then 50%...which is more logical.  And what is even more interesting is that the new contracts still have the same ROI? 

The reason Genesis-mining returns decreased to 50% because Genesis is real deal. In fact if you look at their contracts and then you could understand why everyone is saying mining nowadays is not profitable as it used to. Genesis minigs return rates are that low.


Neither on gbminers.com nor gainbitcoin.com mentions that both of them are officially related to each other.  Or gbminers.com is actual mining site for gainbitcoin.com (where gainbitcoin.com is customer interface).   In fact gbminers.com is vehemently denied it's relationship with gainbitcoin.com . Check this https://www.reddit.com/r/btc/comments/5dryfh/psa_gbminerscom_is_backed_by_gainbitcoincom_ponzi/.
Ask any gainbitcoin-affiliate why gbminers.does com or gainbitcoin.com not mention each other as affiliated sites or that gbminers.com is mining portal/site for gainbitcoin?  Once you ask that question be ready to be amazed with fairy tales.
As mentioned earlier those who believe in gainbitcoin will point only to regular pay.  Their greed has blinded them in getting rich quicker.

[lordquanta]

Forgot to mention, the gainbitcoin is listed in the  http://www.badbitcoin.org/thebadlist/ .  it is list of ongoing scams.

[freebit1]

Thanks for the information !!!!

[digminer]

Guys I really appreciate the time and effort put out by some of the members to take out so much calculations and facts. Although no one have any personal motive but still this much effort is commendable. I was also researching GBC for long time and took lot of user feedback which turned out to be positive as there is not issues with payouts. I myself also put some calculations in place and somehow their model looks feasible.
Current BTC mined per 10 minutes (average): 12.5 BTC
Current BTC mined per hour (average): 75 BTC
Current BTC mined per day (average): 1800 BTC
Current BTC mined per month (average): 54000 BTC  
GBMiners Hashrate: 5% of total available on Blockchain
GBMiners mined bitcoin per month: 2700 BTC
They may have been earning some transaction fees as well.

GBC contract validity: 18 Months
Average life of mining hardware: 4 years (estimated)
Months left after user’s contract expires: 30 Months

Now see, how is it happening. The hardware purchased by any user will server atleast 18-30 more months and their hashing power is increasing day by day for new users. That is the reason, they go with very rough calculations because they know this can be done this way.
I feel this is that magic which is working for them, I can’t say they are scam because of committed payout. They have kept the contract prices same even after prices went nearly 3 times high in a year and with that they can plant more servers or can sell the BTC bulk at peak prices and can buy at lower rates after the crashes.
I feel Amit will not highlight himself so much if he is not genuine because wherever he will stay after any scam, govt. will catch him bcz the amount at stake is very high here. They are saying that they are getting registered in India in March 2017, and if this happens people will not face any issue in my opinion.

I somehow completely buy your point. In GB, people are getting a fixed and limited income for 18 months only. After the 18 months until the hardware remains in operation can be used to mine for company or for new users. More the people, more the after 18 months income for company. And if I compare it to Genesis mining (as usually people do), they ask for around $200-220 to mine around half of what GB is giving monthly with one BTC investment. Even if I calculate roughly, GB is getting four times (around $800/BTC than compare to $200) than what Genesis is asking and giving only twice compare to what Genesis is giving and that too for just 18 months. So GB is getting huge profits already from the users and that is the reason they may be able to pay the MLM format. The BTC price is expected to grow gradually in future so the comparo between Genesis's $200 mining outputs with GB will be irrelevant all the time. The MLM will pull in more people which will boost incoming BTC's investment for GB and on another hand the BTC price itself is growing (if at all matter for GB) day by day so its like huge, huge profit for them to run this model for a long time may be we cant imagine seeing the population in India. 

[tmfp]

I get quite a mailbox on this, subjects ranging from the "refund guarantee" not being honoured, to rebuttals of my math based on "bulk discounts"

Dear tmfp,
>Now, one thing put forth by you about the mining output ref: post #11 what their people have told me that you cannot utilize the the package cost as the cost of the server as they are buying in bulk it come to them for cheaper.

There is no such thing as bulk advantage in mining bitcoin. 10,000 machines will only mine 10,000 times that which one will mine.
Manufacturers like Bitmain may give a small discount for very large purchases and economy of scale may save on peripheral costs (repair staff, admin), but any suggestion that huge discounts can somehow apply and change the maths involved is unfounded.

YouTube videos purport to show Gainbitcoin mining with Antminer S9 machines. There have been various versions of this made and sold, varying in hashpower from 11 to nearly 15 Th/s.
A top spec S9 may just provide the hash power sold by Gain in the form of 10 Basic contracts (10 x 1.5 Th/s).
The 10BTC they received for those contracts is not profit it's just a loan, counterbalanced in the books by their commitment to repay it and more...

Averaging the two main calculators, Coinwarz and Alloscomp, one S9 will mine 0.29BTC per month
Gainbitcoin need 1.00BTC per month from each S9 to pay their promised 10% return.

And that av ~0.29 per month is gross income.
No deductions made for costs....
electricity
capital investment
maintenance and downtime
administration
mining pool.

Mining with S9's or equivalent, currently Genesis, BW and ViaBTC take an average of 42% of gross mining income for these costs.
So, the biggest cloud mining operations currently available return 0.1682BTC net per S9 per month to their customers.
Gainbitcoin promise to return 1BTC net per S9 per month to their customers.
Where does the missing 0.8318BTC come from?
What possible answers are there to that question?
1) magic (unlikely)
2) other income (but Gain only sell mining contracts)
3) later investors' deposits (that would make them a Ponzi Scheme)

GBC contract validity: 18 Months
Average life of mining hardware: 4 years (estimated)
Months left after user’s contract expires: 30 Months

 In GB, people are getting a fixed and limited income for 18 months only. After the 18 months until the hardware remains in operation can be used to mine for company or for new users. More the people, more the after 18 months income for company.

I'm trying, and failing, to understand this logic.
For every 1.5 Th/s contract that they sell, Gain promise to pay out on balance 0.8BTC. [(1 x 10% x 18) -1] over its eighteen month life.
Mining with that 1.5 Th/s for eighteen months gives them 0.522BTC gross income, around 0.30276 after overheads (not including MLM commission payments).
On every contract sold, they lose money.
When one contract ends after eighteen months, they sell the hashrate again and lose more money.
The only way they can avoid this is to not honour the 10% monthly repayment, or use funds from a source other than mining to make it.

So GB is getting huge profits already from the users

How?
They are getting large amounts of deposits (loans) certainly.
If you go and borrow say $1m, you will have $1m in your hand. Is it profit? No.
If you pay the interest on the $1m and make a profit on top by whatever process you use it to finance, then you're making money.
Gain are borrowing at 10% per month to finance mining with a return of 1.682% per month.
Please explain where those maths are wrong, because

I somehow completely buy your point.

I don't buy yours.

[Gleb Gamow]

https://cointelegraph.com/news/coinbank-launches-bitcoin-fixed-deposits-claims-to-offer-highest-interest

Coinbank is a wallet provided by Amaze Mining and Blockchain Research Limited. They are also the people behind GBMiners and are based out of New Delhi, India.

The statement, released by Amit Bhardwaj of Amaze Mining and Blockchain Research, says:

“We have two plans for three-month and six-month Fixed Deposits. On three months we are offering a one percent rate of interest and on a six-month deposit, we are offering 1.25 percent. This is the highest rate of interest offered on Bitcoin globally by anybody.”

If you like HashOcean, Gainbitcoin, and Amaze Mining and Blockchain Research, you're gonna love Coinbank, and IT'S SAFE!

Is it safe?

Any investments should be made carefully and only after due-diligence. We asked Amit Bhardwaj about the fiduciary responsibilities that they are entering.

He remarked:

“We have put in best-in-class security measures for storage of earned Bitcoins. The Bitcoin community has seen enough hacks of consumer funds and it cannot and should not face another one and especially not from professional miners.”

Excuse me now while I go and jack off to a sexy Hindu elephant pretending to make a fixed deposit into her pussy.

[sudo007]

...this message has reached only Indian Bitcoin Forum Users. My worry is commoners putting their hard earned money in these kind of ponzi scheme rather than Bitcoin. Why don't we do something about it?

That's really up to you guys on the ground in India: we have the same problem in my country, especially with schemes promoted thru social media.
Obviously, feel free to use my calcs, but "there are none so blind as those that will not see...."

There seems to be a considerable amount of Singaporean involvement in Bitcoin in India.
The Zebpay organization that you mention is headquartered there, and all the various incarnations of Gain mentioned in my previous posts seem to lead to

Tech Name:Mark Lee
Tech Organization:VariableTech Pvt Ltd
Tech Street1:The Franklin, 3 Science Park Drive
Tech City:Singapore
Tech State/Province:SG
Tech Postal Code:118223
Tech Country:SG
Tech Phone:+65.90795655

I wonder who M. Lee may be?

Good luck.

The parent company of gainbitcoin - VariableTech Pvt Limited is a defaulter, they have not filed their annual returns to the government in Singapore. Their compliance status is "non compliant" as per Singapore government records. One can check on Singapore Accounting and Corporate Regulatory Authority (ACRA) website. 

Raises a red flag. Beware buyers!

[soyab0007]

Guys, do not waste your time researching & talking about SCAM sites..

This is 1000% SCAM...

[lordquanta]

Guys, do not waste your time researching & talking about SCAM sites..

This is 1000% SCAM...

On the contrary one should collect as many proofs as you could. Because these proofs later become point of reference when promoters/supporters of scam/MLM scheme come to defend it.
Thus it is important to collect or dissect every statement, details from those scam-promoters.  Interestingly you'll find people on this forum who support, defend this very scam site as legit.

[lordquanta]

Fortunately some bitcoin news media like coinjournal are also uncovering truths about the gainbitcoin and gbminers. Check following link which covers gbminers, gainbitcoin and coinbank.

http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/


As above link coinbank is rebranded version of open source bitcoin wallet called bitpay wallet[1].  Nothing surprising as gainbitcoin site itself was more likely created in this way.

[1] https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en

Edit: What is more important is that coinjournal has posted other articles on gbminers previously. Now they have put a disclaimer mentioning 'gbminers is running ponzi schem' on many of those article. 

[cryptoheadd]

Fortunately some bitcoin news media like coinjournal are also uncovering truths about the gainbitcoin and gbminers. Check following link which covers gbminers, gainbitcoin and coinbank.

http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/


As above link coinbank is rebranded version of open source bitcoin wallet called bitpay wallet[1].  Nothing surprising as gainbitcoin site itself was more likely created in this way.

[1] https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en

Edit: What is more important is that coinjournal has posted other articles on gbminers previously. Now they have put a disclaimer mentioning 'gbminers is running ponzi schem' on many of those article. 

Finally.
Hope this catches the attention of more reputable news sites like Coindesk.

Thanks for the share, lordquanta.

[Gleb Gamow]

Fortunately some bitcoin news media like coinjournal are also uncovering truths about the gainbitcoin and gbminers. Check following link which covers gbminers, gainbitcoin and coinbank.

http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/


As above link coinbank is rebranded version of open source bitcoin wallet called bitpay wallet[1].  Nothing surprising as gainbitcoin site itself was more likely created in this way.

[1] https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en

Edit: What is more important is that coinjournal has posted other articles on gbminers previously. Now they have put a disclaimer mentioning 'gbminers is running ponzi schem' on many of those article. 

http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/

CoinJournal: Why does the mining calculator on Gainbitcoin project 0.1 btc earned per month for 1.5 th/sec when a normal mining calculator says 1.5 th/sec should provide 0.04 btc per month?

Bhardwaj: Bitcoin mining calculators are good for people who want to run their own mining setup, and I assure you not good for cloud mining chaps. Whenever we get a chance to interact one to one I’ll personally explain u the maths behind Gainbitcoin successful pattern for the user gains. It’s very simple, only cloud mining people makes it too complex.

From CoinJournal’s perspective, saying things like the price of bitcoin does not impact a bitcoin mining business only confirms the fraudulent nature of the business.

[S_D]

CoinJournal: Why does the mining calculator on Gainbitcoin project 0.1 btc earned per month for 1.5 th/sec when a normal mining calculator says 1.5 th/sec should provide 0.04 btc per month?

Bhardwaj: Bitcoin mining calculators are good for people who want to run their own mining setup, and I assure you not good for cloud mining chaps. Whenever we get a chance to interact one to one I’ll personally explain u the maths behind Gainbitcoin successful pattern for the user gains. It’s very simple, only cloud mining people makes it too complex.

From CoinJournal’s perspective, saying things like the price of bitcoin does not impact a bitcoin mining business only confirms the fraudulent nature of the business.

Why not make a video explaining all this then or make an open forum discussion answering everyone's queries?

[Gleb Gamow]

CoinJournal: Why does the mining calculator on Gainbitcoin project 0.1 btc earned per month for 1.5 th/sec when a normal mining calculator says 1.5 th/sec should provide 0.04 btc per month?

Bhardwaj: Bitcoin mining calculators are good for people who want to run their own mining setup, and I assure you not good for cloud mining chaps. Whenever we get a chance to interact one to one I’ll personally explain u the maths behind Gainbitcoin successful pattern for the user gains. It’s very simple, only cloud mining people makes it too complex.

From CoinJournal’s perspective, saying things like the price of bitcoin does not impact a bitcoin mining business only confirms the fraudulent nature of the business.

Why not make a video explaining all this then or make an open forum discussion answering everyone's queries?

Maybe because the dude is busy with preparing his keynote presentation as the alternate replacing Larry Christopher Bates recently expunged from the list of speakers due to blow-back from the dick-eating-cunts community.

[polynesia]

https://cointelegraph.com/news/coinbank-launches-bitcoin-fixed-deposits-claims-to-offer-highest-interest

Coinbank is a wallet provided by Amaze Mining and Blockchain Research Limited. They are also the people behind GBMiners and are based out of New Delhi, India.

The statement, released by Amit Bhardwaj of Amaze Mining and Blockchain Research, says:

“We have two plans for three-month and six-month Fixed Deposits. On three months we are offering a one percent rate of interest and on a six-month deposit, we are offering 1.25 percent. This is the highest rate of interest offered on Bitcoin globally by anybody.”

If you like HashOcean, Gainbitcoin, and Amaze Mining and Blockchain Research, you're gonna love Coinbank, and IT'S SAFE!

This is ridiculous. Shouldn't sites like cointelegraph do some basic due diligence before publishing articles?
This one hasn't even been classified as promotional material.

[lordquanta]

https://cointelegraph.com/news/coinbank-launches-bitcoin-fixed-deposits-claims-to-offer-highest-interest

Coinbank is a wallet provided by Amaze Mining and Blockchain Research Limited. They are also the people behind GBMiners and are based out of New Delhi, India.

The statement, released by Amit Bhardwaj of Amaze Mining and Blockchain Research, says:

“We have two plans for three-month and six-month Fixed Deposits. On three months we are offering a one percent rate of interest and on a six-month deposit, we are offering 1.25 percent. This is the highest rate of interest offered on Bitcoin globally by anybody.”

If you like HashOcean, Gainbitcoin, and Amaze Mining and Blockchain Research, you're gonna love Coinbank, and IT'S SAFE!

This is ridiculous. Shouldn't sites like cointelegraph do some basic due diligence before publishing articles?
This one hasn't even been classified as promotional material.

Edit: It might be paid journalism/news  from gbminers/gainbitcoin .  What cointelegraph missed was picked up correctly by coinjournal.net[1] .  Many of articles found online are more like one side story without any investigation. Coinjournal.net  have also unwrapped scam nature of gainbitcoin run by promoter of gbminers and exposed that coinbank is rebranded version of opensource app [2]


[1] http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/
[2] https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en (https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en)