How cloud mining ponzis nearly ruined my bitcoin business completely

[KingTylerVVS]

Hi, my name is Tyler.

I work for minimum wage in America and am tired as fuk most of the time.

I know what you are thinking, "join the club." Its hard being broke as a joke.

When I first got into bitcoin, I was working on creating a website. I got a 1.5 bitcoin loan or so from bitcoin jam.
My plan was to invest in cloud mining and use the daily profits to advertise.
Facebook charges you $10 for 10 visitors, yet you can get 10 higher quality bitcoin enthusianados for 7¢ worth of bitcoin.
I didn't need to invest all the bitcoin into advertising all at once, so I thought why not do it incrementally?

I was hoping to invest my cloud mining profits at a few bitmil a day and drive traffic to my site to build a following slowly.

I knew cloud mining was risky so I diversified and even did research to make sure each company had a valid POOL.

YET EVERY DAMN CLOUD MINING SITE TURNED OUT TO BE A PONZI! And I lost ALL my coins.

Cointellect - hashie - hashprofit - scrypt.cc - cloudhasher - probably 1 or 2 others.... ALL SCAMS.

I was a newbie and I made a bad decision, yes. But why is there so much anger at me, when ultimately...
those cloud mining sites are at fault and should not exist? Why is there not greater effort to jail thieves like this?
Why is there not a hacker community taking down ponzis before they are allowed to hurt honest people?
Why the hell or HOW the hell are those people happy with themselves doing "business" the way they do???


https://btcjam.com/users/18903 I still owe a little over a bitcoin and I got a new job and will pay it back soon.
That is my promise to this community.

It sucks because I worked for 2 solid weeks of my life
just to pay off thieves instead of focus on my business. I'm just sharing my pain here I guess...

I also just wanted to let everyone know I am a genuine guy and am going to fix the errors I inherited from said THIEVES.

What is being done as retribution to all the ponzis? https://bitcointalk.org/index.php?topic=878387.0

And why am I still receiving hate? https://bitcointalk.org/index.php?topic=1541316

I clearly remember you about your bullshit posts before

https://btcjam.com/users/18903

You've got some over due debts

My work is not bullshit.

Im trying, I really am. God bless. Thanks for your comments and support.

to the Trolls, get a life please. Try to create real value or constructive criticism atleast.
to the Bitcoin humans with soul, much love! Thanks and cheers!

[lottery248]

sure thing. never wish for the fast money, they are not even helpful to your wallet growth.
you should  have gambled money rather than being scammed by the ponzi, it is better.

[franky1]

lessons everyone should learn.

check their WHOIS website domain details.
if it is under privacy guard RED FLAG
if it links to an address shared by several businesses or a pobox RED FLAG
if it links to a residential address RED FLAG
if they dont even register themselves as a business RED FLAG

if they are offering guaranteed returns RED FLAG
if they are offering referral commission RED FLAG

in short if you cannot find enough real information to be able to visit the owner and slap him across the face with a wet fish. dont expect to be able to report them to the cops or sue them.

know who you are trading with if you are handing funds to strangers in amounts that will make you cry if they lost it
know who you are trading with the second part(their half) of a contract/deal is not instantly settled back to you or not escrowed

[isen]

A very bad experience ideed but at least you've learned your lesson and in the future you will avoid doing the same mistakes again and make scammers rich.I hope that many newbies will read this post and see what happens to you when you mess with these kind of sites.
Everyone should keep in mind a simple rule when something sounds to good to be true then it's probably a scam.

[asriloni]

maybe getting scammed on 1 fake cloud mining and you'd not yet realize what's going on so you need to be scammed on so many fake cloud mining to realize that they're just bunch of rebranded HYIP so you could learning,sometimes experience takes so many thing from you before you can learn from it

[MayorMccheese]

I knew cloud mining was risky so I diversified and even did research to make sure each company had a valid POOL.

YET EVERY DAMN CLOUD MINING SITE TURNED OUT TO BE A PONZI! And I lost ALL my coins.

Don't blame yourself, OP. I don't even understand how a prudent, well-thought-out business plan like this could possibly go wrong.
Maybe you should double down, borrow some more coin and this time, diversify into a few honest securities available right here on this forum?
Anyhow, SFYL.

[akogwapo14]

its really happen when your new in this kind of bussiness. but keep it as experience not just only you who failed in joining this kind of bussiness many other people same as what happen to you or much worse than happen into you. as long as there is consumers who believe and this kind of bussiness its still continue to grow and many more people well get victim of it. just stop promoting those ponzi's  stop joining if they got more and more victim these kind of bussiness well still continue.

[KingTylerVVS]

thank you all for giving me understanding instead of hate.

It's a breath of fresh air and gives me new confidence and vigor for the community here!

I will post here when my site, www.d3fc.me is complete.

Currently it's in open alpha, godspeed to our success!

[btckold24]

I feel for you OP but I lost coins also at what would be called "legitimate" cloud mining sites like cex. I bought hash and
watched it steadily go down for weeks until the light bulb clicked on and I realized ROI is impossible and soon my hash
would be worthless. I took a huge hit though. Cloud mining is all bad unless you get in early get roi and can sell and get
out imo.

[btccashacc]

firstly i feel so sorry for your lost, it's too bad when you used loan money for invest on cloudmining, now they're turned to scam, it's better not to invest on cloudming,alternatively i think mining altcoin might be a good choice like magi coin or others and then convert the mined coin to the bitcoin, it's pretty safe than invest on cloudmining or any hyip programs, just because mostly cloudmining turned to scam, it doesn't mean that all of cloudming is bad, hashnet in my opinion is good, the point is do research before invest.

[electronicash]

if you only knew you would never have invested to them.
I first learned to earn bitcoin from the users here in the forum and that i learned well about which businesses is shady enough to avoid. they've been around for years and never lost for investors though thats because at first they pay.

[Sniper44]

i am sorry to hear about your story. that is the story of many who come into bitcoin and think they can get rich quick overnight. and scammers are waiting for this chance to find people desperate for money and take their money out of their hands with a nicely designed website who promises big profit!

[~Bitcoin~]

All cloud mining that exist and still running are also ponzi and just work in similar way how HYIP operates. They will exist till new investor putting their money into the system. Sorry for your loss, but i was quite amazed who have suggested you to invest in these cloud mining ponzis.

[Herbert2020]

.... did research to make sure each company had a valid POOL.
YET EVERY DAMN CLOUD MINING SITE TURNED OUT TO BE A PONZI! And I lost ALL my coins.
Cointellect - hashie - hashprofit - scrypt.cc - cloudhasher - probably 1 or 2 others.... ALL SCAMS.
...

i am wondering what kind of research you did that you couldn't find out that cloudmining is a risky business. and i am not familiar with all the cloudminings you listed here but i know a couple of them and they have been evading providing any proof of reality of their business which means they had no hash power to mine with.

[rphk]

Even i also had invested few BTC on cloud mining sites and lost all bitcoin , it is an lesson that ponzi, hyip and cloud mining are risky sites where one should not invest , best is like getting small online job or joining signature campaign will be helpful and can have peaceful earning.

[Babayega31]

.... did research to make sure each company had a valid POOL.
YET EVERY DAMN CLOUD MINING SITE TURNED OUT TO BE A PONZI! And I lost ALL my coins.
Cointellect - hashie - hashprofit - scrypt.cc - cloudhasher - probably 1 or 2 others.... ALL SCAMS.
...

i am wondering what kind of research you did that you couldn't find out that cloudmining is a risky business. and i am not familiar with all the cloudminings you listed here but i know a couple of them and they have been evading providing any proof of reality of their business which means they had no hash power to mine with.

Thats why this is lesson for us must be learned and the one reliable source of info if we need something is all in here and so by that we must avoid cloudmining because all of them are ponzi-scheme theirs no such mining investment for today is legal running since difficulty of blocks are even more higher thats why anytime they could run and turn scam.

[helloeverybody]

Quite a lot of people get a bad introduction to bitcoin walking straight into scams like that.  Nowadays i just take it for granted that all cloud mining sites are scams.  I did a little when i first started as well but now i don't do near them with a barge pole.

[akogwapo14]

ill already know what well happen in to you in  fact its happen to me multiple times. but life still go on no need to be sad, and we should find other ways of earnings money  in bitcoin world and learn more in this forum. well im totally glad that i found this forum its very helpful in me.

[JeffBrad12]

All cloud mining that exist and still running are also ponzi and just work in similar way how HYIP operates. They will exist till new investor putting their money into the system. Sorry for your loss, but i was quite amazed who have suggested you to invest in these cloud mining ponzis.

They running a Ponzi system. but to believe with cloud mining for now it's a dangerous activity. with various offers their trying to lure all of the investors of bitcoins is want to invest the part of their amount into cloudmining. but I'm sorry for you to lose maybe for next time you will learn some experience from this cases.

[davis196]

Hi, my name is Tyler.

I work for minimum wage in America and am tired as fuk most of the time.

I know what you are thinking, "join the club." Its hard being broke as a joke.

When I first got into bitcoin, I was working on creating a website. I got a 1.5 bitcoin loan or so from bitcoin jam.
My plan was to invest in cloud mining and use the daily profits to advertise.
Facebook charges you $10 for 10 visitors, yet you can get 10 higher quality bitcoin enthusianados for 7¢ worth of bitcoin.
I didn't need to invest all the bitcoin into advertising all at once, so I thought why not do it incrementally?

I was hoping to invest my cloud mining profits at a few bitmil a day and drive traffic to my site to build a following slowly.

I knew cloud mining was risky so I diversified and even did research to make sure each company had a valid POOL.

YET EVERY DAMN CLOUD MINING SITE TURNED OUT TO BE A PONZI! And I lost ALL my coins.

Cointellect - hashie - hashprofit - scrypt.cc - cloudhasher - probably 1 or 2 others.... ALL SCAMS.

I was a newbie and I made a bad decision, yes. But why is there so much anger at me, when ultimately...
those cloud mining sites are at fault and should not exist? Why is there not greater effort to jail thieves like this?
Why is there not a hacker community taking down ponzis before they are allowed to hurt honest people?
Why the hell or HOW the hell are those people happy with themselves doing "business" the way they do???


https://btcjam.com/users/18903 I still owe a little over a bitcoin and I got a new job and will pay it back soon.
That is my promise to this community.

It sucks because I worked for 2 solid weeks of my life
just to pay off thieves instead of focus on my business. I'm just sharing my pain here I guess...

I also just wanted to let everyone know I am a genuine guy and am going to fix the errors I inherited from said THIEVES.

What is being done as retribution to all the ponzis? https://bitcointalk.org/index.php?topic=878387.0

And why am I still receiving hate? https://bitcointalk.org/index.php?topic=1541316

I clearly remember you about your bullshit posts before

https://btcjam.com/users/18903

You've got some over due debts

My work is not bullshit.

Im trying, I really am. God bless. Thanks for your comments and support.

to the Trolls, get a life please. Try to create real value or constructive criticism atleast.
to the Bitcoin humans with soul, much love! Thanks and cheers!

I can`t believe that people still invest in cloud mining companies even do they are known as scams.

The whole idea of cloud mining is really stupid.

I`m sorry about your failure,but success can be achieved only by trial and error.Good luck OP.