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Author Topic: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free?  (Read 27100 times)
Doomsby
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April 18, 2013, 08:09:54 PM
 #1

I saw a few posts on Reddit about miningunited.com and that it was legit but I do not see how it is possible, he would be better off just mining? Does anyone else think this seems really fishy? I put a BTC.02 order in to see how it would go.  Smiley


EDIT 5/16/13: miningunited.com is now CLOSED. Emailing them returns an instant auto-reply email that says:


Attention,

MU has had to urgently discontinue it's services after a series of
attacks on our system. Also, new United States regulations prevent us
from continuing our services. In order to comply with new FiCEN /
Homeland Security regulations, MU has been shut down.

MU is not the only service that has been impacted by the new federal
regulations:

http://www.SatoshiDice.com
http://www.MtGox.com
http://www.Dwolla.com
(Among others)

More information:
http://fr.reddit.com/r/Bitcoin/comments/1efmzy/satoshidice_announcement/
https://mtgox.com/press_release_20130515.html
https://www.google.com/search?hl=en&gl=us&tbm=nws&q=bitcoin+regulation&oq=bitcoin+regulation

WARNING: The website http://www.BTCcheap.com is NOT related to MU in
anyway. ANY U.S based users using this Vietnamese website is subject
to all regulations in your jurisdiction. It may be AGAINST THE LAW if
you are located in the United States, even if you USE BITCOIN ONLY.

A 100% BitCoin refund is being sent back to all users. U.S based users
may take longer to receive a BitCoin refund. If your wallet was not
compatible with our service you will NOT RECEIVE A REFUND.

This is an automated response. You cannot reply to this message.
-----

As stated in terms & user agreement at the time of active service:


We (Mining United) have the right to shutdown our services at any time
with no refund to any current transactions.

Mining United will not be liable to you (whether under the law of
contact, the law of torts or otherwise) in relation to the contents
of, or use of, or otherwise in connection with this website: 1) For
any indirect, special or consequential loss; or 2) For any business
losses, loss of revenue, income, profits or anticipated savings, loss
of contracts or business relationships, loss of reputation or
goodwill, or loss or corruption of information or data. These
limitations of liability apply even if Mining United has been
expressly advised of the potential loss. Mining United and all related
individuals are not responsible for the loss of BitCoins related to
the use of this Website and services provided.

NO NATIONAL CURRENCY ($USD OR OTHER) WAS EVER EXCHANGED OR IS OWED TO ANY PARTY.

Bitcoin address: 13ETnSJuY1rWEyiBzectM4sf78SqtXQRrB
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Signus
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April 18, 2013, 08:14:57 PM
 #2

What exactly does a .02BTC order do for you?

Would it scale the same, and turn your .02 into 0.0274? If so, let me know. And let me know what the timeframe is like.
HeRetiK
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April 18, 2013, 08:23:36 PM
 #3

according to this thread the "payouts" don't appear on the blockchain, so most probably a scam:

http://www.reddit.com/r/BitcoinMining/comments/1ci7ur/is_mining_worth_starting_this_late_in_the_game/c9gqn7i

Doomsby
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April 18, 2013, 08:29:03 PM
 #4

Would there be a way to report something like this? Or at least flag it?

Bitcoin address: 13ETnSJuY1rWEyiBzectM4sf78SqtXQRrB
nomabitva
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April 18, 2013, 08:32:54 PM
 #5

Let us know how it works out.  It could be a pyramid scheme.

How many Mhps do you think he is getting?
Quote
Windows 7 Pro
Cooler Master HAF XB Case
OCZ ZX 1250W PS
ASUS F2A85-V Pro
AMD A10 5800K APU
2x Sapp Radeon HD 7970
2x Gig Radeon HD 7950
PCI-E x1 x16 Riser Cable
12GB DDR3 RAM
Seagate Barracuda SSD 1TB
x5
- http://miningunited.com/server.html

I guess that x5 at the bottom indicates he has 10x 7970s and 10x 7950s.
Doomsby
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April 18, 2013, 08:40:00 PM
 #6

I will crunch some rough numbers.

7950x10: 500-600/ea = 5-6 GH/s
7970x10: 600-700/ea = 6-7 GH/s

So something like ~11-13 GH/s

Calc says it is $56-66/day

That is, if he even has those kind of specs  Roll Eyes

Bitcoin address: 13ETnSJuY1rWEyiBzectM4sf78SqtXQRrB
HeRetiK
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April 18, 2013, 08:44:35 PM
 #7

Let us know how it works out.  It could be a pyramid scheme.

How many Mhps do you think he is getting?
Quote
Windows 7 Pro
Cooler Master HAF XB Case
OCZ ZX 1250W PS
ASUS F2A85-V Pro
AMD A10 5800K APU
2x Sapp Radeon HD 7970
2x Gig Radeon HD 7950
PCI-E x1 x16 Riser Cable
12GB DDR3 RAM
Seagate Barracuda SSD 1TB
x5
- http://miningunited.com/server.html

I guess that x5 at the bottom indicates he has 10x 7970s and 10x 7950s.

...why the hell would you put a 1TB SSD into a mining rig O.o

Doomsby
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April 18, 2013, 08:49:17 PM
 #8



...why the hell would you put a 1TB SSD into a mining rig O.o

I was thinking that exact same thing  Cheesy

Bitcoin address: 13ETnSJuY1rWEyiBzectM4sf78SqtXQRrB
legendster
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April 20, 2013, 04:06:30 AM
 #9

So this is a scam ?


COULD some senior guys invest & inspect this for us HuhHuh

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lexm
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April 20, 2013, 04:09:27 AM
 #10

probably scam... let it go...
Oldie
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April 20, 2013, 04:20:07 AM
 #11

Until you get at least 2 verifications always assume a scam.  This looks like one.

Smiley
zeryl
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April 20, 2013, 04:42:47 AM
 #12

I don't see how taking in bitcoins is going to get you more in return, unless he's really turning them around, getting new hardware, and paying out at some point.  Doesn't seem like a wise investment.  Keep your bitcoins, and sell em yourself at some point.  There's been enough fluctuation in the market for you to get a good return on your own (in my not so educated opinion)

LTC: LS9A1ae2bvfsJJzRsZN44CxtdTh2SUh4ni | BTC: 14XFP3YsBmSwRvcXoyCo2gRBLXLd4tPUjk
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April 20, 2013, 04:54:56 AM
 #13

For 500 MH/s he pays 0.011 BTC in 72 hrs.  According to http://www.bitcoinx.com/profit/ 500 MH/s would generate 0.084 BTC in that amount of time.  So he keeps 87% and has your 0.02 capital for 3 days.  He must buy more hardware with the capital and it acts like a loan for him, where he borrows 0.02 for 3 days and pays 0.011 (55%) interest?

It's interesting that the % payback decreases as you "invest" more BTC.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
dennis97519
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-_-


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April 20, 2013, 05:00:02 AM
 #14

Let us know how it works out.  It could be a pyramid scheme.

How many Mhps do you think he is getting?
Quote
Windows 7 Pro
Cooler Master HAF XB Case
OCZ ZX 1250W PS
ASUS F2A85-V Pro
AMD A10 5800K APU
2x Sapp Radeon HD 7970
2x Gig Radeon HD 7950
PCI-E x1 x16 Riser Cable
12GB DDR3 RAM
Seagate Barracuda SSD 1TB
x5
- http://miningunited.com/server.html

I guess that x5 at the bottom indicates he has 10x 7970s and 10x 7950s.

...why the hell would you put a 1TB SSD into a mining rig O.o
and barracuda is not SSD. It's HDD.

Hey, have spare coins?
BTC: 1HbCHedJVkdudEqHjCxFBbfVWWUeJWts9B
LTC: LUSer4bgAex1gTbHP61oHvrGCj2Atwwexq
NMC: N15ytEap7zLKM5aEebWsckiTNNVJXSUwGm
ne
legendster
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April 20, 2013, 05:22:58 PM
 #15

Let us know how it works out.  It could be a pyramid scheme.

How many Mhps do you think he is getting?
Quote
Windows 7 Pro
Cooler Master HAF XB Case
OCZ ZX 1250W PS
ASUS F2A85-V Pro
AMD A10 5800K APU
2x Sapp Radeon HD 7970
2x Gig Radeon HD 7950
PCI-E x1 x16 Riser Cable
12GB DDR3 RAM
Seagate Barracuda SSD 1TB
x5
- http://miningunited.com/server.html



all SSD'S ARE HDD'S not the other way around.
I guess that x5 at the bottom indicates he has 10x 7970s and 10x 7950s.

...why the hell would you put a 1TB SSD into a mining rig O.o
and barracuda is not SSD. It's HDD.

At any given topic, at any given day and at any given circumstance, you will never know about anything more than me.
bcpokey
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April 22, 2013, 10:19:07 PM
 #16

Did the OP ever get a payout?



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April 22, 2013, 10:30:06 PM
 #17

Looks like a pyramid scheme to me...

AskMiners.com - Bitcoin mining decooded
bcpokey
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April 22, 2013, 11:37:49 PM
 #18

Well, I can't believe it's anything but BS, which is too bad.

Registered through: GoDaddy.com, LLC (http://www.godaddy.com)
   Domain Name: MININGUNITED.COM
      Created on: 15-Apr-13
      Expires on: 15-Apr-14
      Last Updated on: 15-Apr-13

 Registrant:
   Domains By Proxy, LLC
   DomainsByProxy.com

Created on the 15th of april, with only one year of registration (minimum possible), through a proxy registrant. Payout is ~30% in 3 days, with no limits. No real clear explanation of how any of this would be possible.




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StargateUbisoftSparkle
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April 22, 2013, 11:41:46 PM
 #19

Simple rule. If it's easy to get money, it's a scam.
legendster
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April 23, 2013, 05:21:17 PM
 #20

Simple rule. If it's easy to get money, it's a scam.

Wrong rule.

Rule breaker = Buy a 6990, Mine Bitcoins, Get money. Easy enough ^_^

At any given topic, at any given day and at any given circumstance, you will never know about anything more than me.
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