Powerhashing.com: MLM Bullshit Mining.

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Before we have a look at Powerhashing, a brief explanation of MLM.
MLM is a predatory system of commission payments which is attaching itself to the promotion of crypto schemes.

MLM = multi level marketing.
An American idea, recruit a 'downline' to market a product or service and get paid for it. Time and time again.
The product can suck, not exist or be barely profitable, it doesn't matter. MLM is about selling a dream to the suckers, using lots of motivational type language and as few details as possible about the actual product.
And getting paid thru the matrix. No, not Neo's, a multi level money making machine
like so



There are many different forms of this, add-ons with silly names and quite anal refinements, but they all have the same goal: money rises to the top of the matrix in a pyramid fashion.
Hence Pyramid Scheme.
They are sort of illegal in a lot of countries, but generally don't get too high on policing priorities as investigating is quite labor intensive and the schemes, especially Bitcoin ones, are global.
The rewards for the <1% Inner Circle can be huge, so they have access to lawyers and offshore structures to help prolong the life of these scams, and the arrival of Bitcoin has given them a whole new ball game to play.

But, apart from the admins, everybody else is a sucker



So, there's MLM 101 for you.
Put it together with the core business being "Bitcoin mining" offering impossible ROI and what have you got?

S-C-A-M

Powerhashing.com.

Let's have a look at their website. Registered with that slag Bob Parsons, so no whois details, but we know who they are. (later)

Landing page

A Global Wealth Building Company for the Digital Currency Market

and a really impressive shot of server racking (maybe even Bitcoin miners to a newbie)

 

stolen from Nutanix tho



But hey, everyone steals photos of other people's operations right? Means nothing, right?


About us

Power Hashing Solutions Pvt. Ltd. are a team of crypto currency experts, entrepreneurs, business professionals, network marketers, and programming developers who have unite to offer a very simple business model around a very complex industry.

More on the actual company later, but I've heard that spiel somewhere before.....

we are a team of experts, entrepreneurs, professionals, network marketers, and programming geeks who have all come to together to launch a very simple business around a very complex industry.

and, come to that

A Global Wealth Building Company for the Digital Currency Market

BitClub Network....I guess is the MLM/Bitcoin pioneer, and still going, still enriching the Chosen Few...

What we do
We have combined the strength of crowd funding and bitcoin mining to bring you a very unique opportunity in the Bitcoin industry. By using expertise of our team we are able to provide a profitable mining operation

This pisses me. Crowd funding has nothing to do with MLM. It's a buzzword they latch onto for credibility, nothing else. Legit crowdfunding ventures  (the few that come to anything) will pay benefits back to angels, but do not come with a matrix affiliate system attached.

a profitable mining operation

Yeah, that's what we want. So where is it? What is it? How many Ph/s?
No details there tho, so onto the next page

OPPORTUNITY
Earn Passive Income

"Passive income" is an MLM/scammer's favorite buzz phrase, usually accompanied by pics of swimming pools. Just think about it, it's what we all want right? Just sit on our asses and watch the money roll in, looking out over the HashOcean...

But mining, we want to know about the mining!
All we get are more generalities...

Thanks to some great partnerships we have established with hardware providers, as well as to our bulk purchases, we get the best price on our employed technology. This means we get the hardware cheaper than the normal market price. What also bears great importance, considering the maintenance costs, is the storage of the miners: we have several farms and each location was chosen to fulfill two important criteria: cheap electricity supply and little or no need for cooling.

Bulk purchases, special relationships, cheap hardware. Sounding goood....
Several farms, sound like they're in Iceland I guess. Sounding greeeat...

But that's it, no details, just a couple of crappy Fiverrrr vids and that's that page done.

Onto
FAQs

Not one Q/A about miners, pools, hashrate, halving effect, nothing, just generic bullshit about accounts.

Next page
CONTACT

Blank enquiry form.
And a map.
A map of 1500 Gateway Blvd #220, Boynton Beach Florida....WTF? I thought Powerhashing was in India???


and the last tab
START MINING TODAY

CREATE YOUR FREE ACCOUNT, START MINING TODAY and a form to fill in, with your sponsor ID already filled in. Who is he and why?


So, we've been thru the whole Powerhashing website and no details of anything to do with Bitcoin mining apart from generalizations, very disappointing.
Let's have a quick look at T&C's while we're here

Looks like a standard HYIP? type set of terms, but then we get to

CRYPTO CURRENCY ARBITRAGE NETWORK reserves the right to accept or decline any member for membership without explanation.

Who?
CRYPTO CURRENCY ARBITRAGE NETWORK....let's Google that.
Top result is moneymakersgroup, the scammers reference site for all things bent, impossible and just plain shit.
CCAN is listed under "Closed, Inactive & Offline HYIPs", some bullshit scam that closed down and the admin ran off after a few months.



What's that got to do with Bitcoin Mining in India?


Next installment soon: how much will we earn, how will we earn it, and who are these three sharp dudes?

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[coinsocieties]

I can not say it enough that all CLOUD MINING IS A SCAM!!!  Lets take Genesis mining.  With the excepting of one of their planns which you have to invest $1,700 to get, all the other plans are returning your initial deposit in over a year.  Why would you give someone $100 to get back $98 in one year?  So want you may or may not get another $98 the next year, it just depends on the cost of mining then.  These people are in it for the profit, so they are not giving money away. 

[asriloni]

I could say these fake cloud minings would be match well if they were called MLM rather than Ponzi because they always having referral/affiliate which promising big reward,they count on how many new users will come and funds were invested not like Ponzi even close,but why people still call it Ponzi? maybe because it's already on their mind,even both MLM and Ponzi are shitty satanic thing

[BitcoinSupremo]

Before we have a look at Powerhashing, a brief explanation of MLM.
MLM is a predatory system of commission payments which is attaching itself to the promotion of crypto schemes.

MLM = multi level marketing.
An American idea, recruit a 'downline' to market a product or service and get paid for it. Time and time again.
The product can suck, not exist or be barely profitable, it doesn't matter. MLM is about selling a dream to the suckers, using lots of motivational type language and as few details as possible about the actual product.
And getting paid thru the matrix. No, not Neo's, a multi level money making machine
like so



There are many different forms of this, add-ons with silly names and quite anal refinements, but they all have the same goal: money rises to the top of the matrix in a pyramid fashion.
Hence Pyramid Scheme.
They are sort of illegal in a lot of countries, but generally don't get too high on policing priorities as investigating is quite labor intensive and the schemes, especially Bitcoin ones, are global.
The rewards for the <1% Inner Circle can be huge, so they have access to lawyers and offshore structures to help prolong the life of these scams, and the arrival of Bitcoin has given them a whole new ball game to play.

But, apart from the admins, everybody else is a sucker



So, there's MLM 101 for you.
Put it together with the core business being "Bitcoin mining" offering impossible ROI and what have you got?

S-C-A-M

Powerhashing.com.

Let's have a look at their website. Registered with that slag Bob Parsons, so no whois details, but we know who they are. (later)

Landing page

A Global Wealth Building Company for the Digital Currency Market

and a really impressive shot of server racking (maybe even Bitcoin miners to a newbie)

 

stolen from Nutanix tho



But hey, everyone steals photos of other people's operations right? Means nothing, right?


About us

Power Hashing Solutions Pvt. Ltd. are a team of crypto currency experts, entrepreneurs, business professionals, network marketers, and programming developers who have unite to offer a very simple business model around a very complex industry.

More on the actual company later, but I've heard that spiel somewhere before.....

we are a team of experts, entrepreneurs, professionals, network marketers, and programming geeks who have all come to together to launch a very simple business around a very complex industry.

and, come to that

A Global Wealth Building Company for the Digital Currency Market

BitClub Network....I guess is the MLM/Bitcoin pioneer, and still going, still enriching the Chosen Few...

What we do
We have combined the strength of crowd funding and bitcoin mining to bring you a very unique opportunity in the Bitcoin industry. By using expertise of our team we are able to provide a profitable mining operation

This pisses me. Crowd funding has nothing to do with MLM. It's a buzzword they latch onto for credibility, nothing else. Legit crowdfunding ventures  (the few that come to anything) will pay benefits back to angels, but do not come with a matrix affiliate system attached.

a profitable mining operation

Yeah, that's what we want. So where is it? What is it? How many Ph/s?
No details there tho, so onto the next page

OPPORTUNITY
Earn Passive Income

"Passive income" is an MLM/scammer's favorite buzz phrase, usually accompanied by pics of swimming pools. Just think about it, it's what we all want right? Just sit on our asses and watch the money roll in, looking out over the HashOcean...

But mining, we want to know about the mining!
All we get are more generalities...

Thanks to some great partnerships we have established with hardware providers, as well as to our bulk purchases, we get the best price on our employed technology. This means we get the hardware cheaper than the normal market price. What also bears great importance, considering the maintenance costs, is the storage of the miners: we have several farms and each location was chosen to fulfill two important criteria: cheap electricity supply and little or no need for cooling.

Bulk purchases, special relationships, cheap hardware. Sounding goood....
Several farms, sound like they're in Iceland I guess. Sounding greeeat...

But that's it, no details, just a couple of crappy Fiverrrr vids and that's that page done.

Onto
FAQs

Not one Q/A about miners, pools, hashrate, halving effect, nothing, just generic bullshit about accounts.

Next page
CONTACT

Blank enquiry form.
And a map.
A map of 1500 Gateway Blvd #220, Boynton Beach Florida....WTF? I thought Powerhashing was in India???


and the last tab
START MINING TODAY

CREATE YOUR FREE ACCOUNT, START MINING TODAY and a form to fill in, with your sponsor ID already filled in. Who is he and why?


So, we've been thru the whole Powerhashing website and no details of anything to do with Bitcoin mining apart from generalizations, very disappointing.
Let's have a quick look at T&C's while we're here

Looks like a standard HYIP? type set of terms, but then we get to

CRYPTO CURRENCY ARBITRAGE NETWORK reserves the right to accept or decline any member for membership without explanation.

Who?
CRYPTO CURRENCY ARBITRAGE NETWORK....let's Google that.
Top result is moneymakersgroup, the scammers reference site for all things bent, impossible and just plain shit.
CCAN is listed under "Closed, Inactive & Offline HYIPs", some bullshit scam that closed down and the admin ran off after a few months.



What's that got to do with Bitcoin Mining in India?


Next installment soon: how much will we earn, how will we earn it, and who are these three sharp dudes?

Pretty impressive explanation you got there. What it disappoints me is that I thought the cloud mining scams were going to an end with all of the fallen ponzies recently big ones and smaller copy cats. It appears some people will never learn and will try to scam unsuspecting persons. But still you have done a pretty nice job explaining it to the detail why this website is like you say "Bullshit Mining".

If I were someone tempted to invest there and reading this topic of yours I would have got my clear idea that I should never invest into such sites. Keep up the good work against ponzi scammers.

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I could say these fake cloud minings would be match well if they were called MLM rather than Ponzi because they always having referral/affiliate which promising big reward,they count on how many new users will come and funds were invested not like Ponzi even close,but why people still call it Ponzi? maybe because it's already on their mind,even both MLM and Ponzi are shitty satanic thing

Ponzis and Pyramid schemes are definitely different things, but they can co-exist in the same scheme.

A Pyramid Scheme (scammers go "rah, rah everything is a pyramid scheme!" Not so, there is a big difference between a Pyramid Scheme and a pyramid structure) is where referral commission money rises to the top of a matrix, with new investors buying in simply to resell positions in further level of the tree, also sometimes believing that the underlying business model will make them money, which it hardly ever does because it is unprofitable or non existent.

A Ponzi Scheme (not a ponzi game which was a poor attempt to convince newbies that they could have a fair gamble on a "last one in loses" basis)is where new investors money is used to pay existing commitments to old investors because the underlying business model is unprofitable or non existent.

Both types, or the hybrid, can exist for a long period of time depending on the greed of the admin, but both ultimately fail because of the need for a continually expanding investor base.

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A little busy at the moment, don't have "Part 2, Where's the Mining then Abhishek?" quite finished, but here's a link to an MLM investigative resource to further explain the matrix system as used by Powerhashing and several MLM schemes operating in other fields.
http://behindmlm.com/mlm-reviews/advertise-cookies-review-25-month-ponzi-roi-scheme/

As a commenter adequately sums it up

‘consulting and mining firm’ indeed! more like a run of the mill fake crytocurrency mining MLM, which seems to be the latest craze in the ponzi/pyramid community here.

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So, mining proof.....

They say

Thanks to some great partnerships we have established with hardware providers, as well as to our bulk purchases, we get the best price on our employed technology. This means we get the hardware cheaper than the normal market price. What also bears great importance, considering the maintenance costs, is the storage of the miners: we have several farms and each location was chosen to fulfill two important criteria: cheap electricity supply and little or no need for cooling.

This is fairly standard bullshit. No specifics, nothing.
The last sentence implies a cold environment with geothermic/hydro energy, fashionably usually Iceland, Scandinavia or the wilds of China.
Being Indian based, maybe the Himalayas?
Maybe a State-of-the-Art installation, cooled with crystal clear mountain spring water, lovingly tended by Sherpas on their day off?
Maybe not..

Time for a YT video uploaded a couple of weeks ago, 33 seconds of mobile phone video shot by the looks of it in a disused shop, with about 24 x S5's and 15 x KNC Neptunes perched on some wooden shelving, wiring by a blind knitter and cooled by leaving the door open.

LADIES AND GENNLEMEN, I GIVE YOU POWERHASHING'S GLOBAL BITCOIN FARM 

https://youtu.be/8UJEiJieAxI








State of the Fucking Art indeed....let's put some manufacturers spec numbers for this pile of obsolete crap thru a calculator.
I'll give them a generous $0.06 electric/overhead cost and a 2% pool fee.

So, Powerhashing's 78.6 Th/s of 2014's finest mining scrap will provide an annual profit loss of... $417.04

[isen]

You did a great job exposing this scam i hope that all these ignorant people who ask around the forum if these sites are legit will read this thread and realize that cloud mining is a big lie.

[Rotten Egg]

Company master data about Power Hashing Solutions Pvt Ltd from Ministry of Corporate Affairs...



Amist Jaiswal & Abhishek have also registered another company called 3 ACES CRYPTO TRADERS PRIVATE LIMITED on 12/07/2016 with CIN U74999DL2016PTC302856.

[tmfp]

Oh, and Amit Jaiswal, one of the Shiny Suit Trio and Co Founder of Powerhashing



also used to pimp for another Dehli based scam Gainbitcoin, reviewed by me here and Scam Accusation here
(and other MLM shit like Phyto science wtf?)





His promo stuff amusingly sandwiches a post about Law Enforcement.
Can you go to jail in India for fraud?
I bet they're not very nice, no shiny suits in there.

[Slow death]

Oh, and Amit Jaiswal, one of the Shiny Suit Trio and Co Founder of Powerhashing



also used to pimp for another Dehli based scam Gainbitcoin, reviewed by me here and Scam Accusation here
(and other MLM shit like Phyto science wtf?)





His promo stuff amusingly sandwiches a post about Law Enforcement.
Can you go to jail in India for fraud?
I bet they're not very nice, no shiny suits in there.

India has many scammers, these guys (Indians) are major investors and creators of MLM, HYIP and CLOUD MINING sites. they are second only to Brazilians and Russians!

These scammers irritate me when they say they have a "team" when everyone knows that they do not have any team.

People before registering these sites not investigate if they have:

Company headquarters

registry (documents issued by the government to carry out such activity) only believe that the company was registered because they saw the  site writing: "registered company UK"

Do not call to see if the phone number that the site works or not.

[tmfp]

WOW, when you turn over a rock, you have no idea what is going to crawl out...

My good friend Oz at behindMLM has been looking at Powerhashing too, and he found their name



in the code of a scam called Bitaxles.

Also sharing a company director
"Jay Lawrence"
121 Oakhill Rd,
Sutton SM1 3AN
UK
with Bitaxles is FinanceBTC, a non paying hyip with a now insecure website.

azhyipmonitor.com/hyip_finance_btc_limited.html

and also sharing that address is Walter Brown with yet another scam,
Business Angels inc.

Scammers everywhere, they seem to be like the Hydra from mythology, cut one head off and ten grow back  

People before registering these sites not investigate if they have:

Company headquarters

registry (documents issued by the government to carry out such activity) only believe that the company was registered because they saw the  site writing: "registered company UK"

Do not call to see if the phone number that the site works or not.

Unfortunately my friend, UK company registration means nothing with regard to the legitimacy or otherwise of a scheme.
It can be bought for pennies and documents are rarely checked.


Anybody in India able to ID any of the people in this photo (apart from the Scammers at the back)?
I wonder if they know what they're doing?
Probably... or they don't care, just so long as they get paid.

[suchmoon]

Company master data about Power Hashing Solutions Pvt Ltd from Ministry of Corporate Affairs...

http://www.anony.ws/i/2016/07/13/powerhashing.png

Amist Jaiswal & Abhishek have also registered another company called 3 ACES CRYPTO TRADERS PRIVATE LIMITED on 12/07/2016 with CIN U74999DL2016PTC302856.

Gotta love the "business" address:

BASEMENT BACK PORTION NEAR METRO PILLAR NO. 563

Cheap-ass scammers can't even afford a properly scammy mail-drop "office".

[tmfp]

I just fell over this https://powerhashing.wordpress.com/2016/07/17/a-talk-with-crypto-king-amit-jaiswal/ , so badly written and presented I thought I'd share it for a laugh.

Of course, the 'blog' is also run by Amit Jaiswal, thus he interviews himself.
Should be worth reading, seeing as he's a Crypto King (maybe he could get together with that other scammer, Ignatova, the OneCoin CryptoQueen).

He is also the http://www.thebitcoinguru.com/ and https://www.facebook.com/TheBitcoinDecoded, although that's not been updated for a while, not racy enough for the guy with a scrap mining empire.
Oh, and he's got that scammer's must have, an interest in a shit coin, Asiadigicoin.
ADCN is heavily promoted by Mr. Ubiquitous MLM pimp Kartike Kanwar, who also lists Gainbitcoin as one of his Get Rich Quick Schemes.
Small world.

Any, all this wonderful pedigree surely justifies Mr. Jaiswal's self description:

Professional Internet Marketer & Coach, Online Entrepreneur, Wealth & Prosperity Consultant

So, let's read some of Guru Jaiswal's deep and meaningful insights, meaningless marketing bullshit....

Power Hashing are a team of crypto currency experts ,entrepreneurs, business developers, network marketers who make a team in this developing world to provide genuine platform, or an idea which change your life, which spread the mission to bring the financial freedom in this world with their power to throw unemployment through from world.

If English isn't your first language, you should really avoid compound, complicated sentences.

It is the first company in India who have their own Bitcoin Minning Setup,deals in all types of majour cryptocurrencies like Bitcoin,Litecoin,Asiadigicoin,Eherium etc.

I love the way he slips ADCN in the middle there. 

Many revenue share companies, which available in market are suit their premises who deals in crypto,who make false promises as high return programs and short term projects,which were not last forever. Power Hashing is the computational effort of a cryptography proof of work, which confirms by their network, and enable their clients across the globe to generate realistic profits results ……

False promises of high returns? That's terrible, shouldn't be allowed...but Powerhashing doesn't do that, it generates "realistic" profit results....
Like these?

[Slow death]

Of course, the 'blog' is also run by Amit Jaiswal, thus he interviews himself.
Should be worth reading, seeing as he's a Crypto King (maybe he could get together with that other scammer, Ignatova, the OneCoin CryptoQueen).

I laughed a lot, especially when I saw this:

Any, all this wonderful pedigree surely justifies Mr. Jaiswal's self description:
Professional Internet Marketer & Coach, Online Entrepreneur, Wealth & Prosperity Consultant

He calls himself "coach".







These guys must have left straight from hell to earth.
He is the forcing many situations to promote and achieve steal money from as many people he can.

[tmfp]

all this wonderful pedigree surely justifies Mr. Jaiswal's self description:
Professional Internet Marketer & Coach, Online Entrepreneur, Wealth & Prosperity Consultant

He calls himself "coach".

Ah, Kartike Kanwar is the Crypto Coach. He's an interesting sort of guy, the sort that after you shake hands with him, you check to see if you still have all your fingers.
Also known to his friends as

Business Development Coach, Crypto Currency Consultant, Bitcoin and Alt Coin Minner, Internet Marketer and Entrepreneur

These guys sure love their titles.
Yeah Kanwar has sold all sorts of shit scams in his time, have a Google on him, I'm suffering from a bout of MLM fatigue. 

[tmfp]

One thing that MLM schemes scams love is Social Media. They plaster it with inspirational memes about self belief and being confident in a bright new fututre, in order to draw potential victims into a relationship, on which they can build and extract money from the gullible.
Facebook facilitates this as part of its business model.
Don't under estimate the power of this. To most people who have a clue about how this stuff works, it's laughable. But what FB does well is lowest common denominator. It is full of so much trivial garbage that, in comparison, this aspirational stuff can look quite believable.

Have a look at https://www.facebook.com/PowerHashing/ , it's full of nonsense like this







Facebook also has a product review system, where clients of a business can leave their view of a companies performance and service.
Abusing this is standard operating procedure for scammers. Usually they buy Facebook accounts and at least make an attempt at diguising their fraud. (this is fraud, making a misleading statement knowingly to encourage a third party to take a certain course of action).

Powerhashing aren't that subtle/professional in their scamming. They just leave themselves 5* reviews in their own names lol.



Sleaze.