Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free?

[Birdy]

This hardly seems effecient o.O
Essentially you get a 0.01-0.04 BTC loan for every 0.25.

Well, when we started and hardly had users we had to take A LOT more.

The closer we get to constantly having 300 users, the lower the amount.

Example, if we only had 100 users, it would be 0.03-0.12 taken.

Okey, so this is done to scale with the user base.

[MiningUnited]

Okey, so this is done to scale with the user base.

Correct. The more users, the lower the amount since it can be split between more people.

[Birdy]

I can understand that, but how do you finance new mining equipment (or did it with the old one you've got)?
Is it all inclusive in this 0.01-0.04? With electricity on top?

[MiningUnited]

I can understand that, but how do you finance new mining equipment (or the old one you've got)?

We have a deal with a company and it is all currently rented. We plan on purchasing new top of the line mining gear soon for ourselves.

With electricity on top?

Electricity comes out of our profits. The users pay solely for the equipment.

Okey, so this is done to scale with the user base.

Currently, we have to shut our doors to new purchases around the 300 x 0.25 purchased mark, or increase queue times.

Hi I have used MiningUnited for like 2-3 weeks now. I have gotten my payout ever time on the clock, never missed one payout.

 People thought "this scam is not going to last more than a week". 

Thanks for using our service.

[Birdy]

Either you are a really generous guy with a very strange approach to do stuff or a scammer.
Because, well you could just rent this equip and generate coins (obviously you don't really need our coins to do this anymore).
Then use the same amount you give to people (maybe create riddles to solve? award someone for creating a good art? I dunnow) and nobody would claim you are a scammer.

[MiningUnited]

Because, well you could just rent this equip and generate coins.

Yes, we could. Right now there is no service ( I don't think ) that offers a mining service like this. People that don't know, don't have the hardware, etc, can get in on the action. We think that this could be big in the future.

Don't think that we are not making a profit. Just from premier membership sales we have made over 33 BitCoin. We have ideas like this to create new revenue streams other than mining.

We will be looking for developers, web coders, etc.

[Birdy]

Because, well you could just rent this equip and generate coins.

Yes, we could. Right now there is no service ( I don't think ) that offers a mining service like this. People that don't know, don't have the hardware, etc, can get in on the action. We think that this could be big in the future.

We will be looking for developers, web coders, etc.

It's because this service doesn't really make sense.
You create another middle person, who isn't really needed.
In the long run it cannot be successful, because you will always lose to the competition who doesn't have to pay an extra-fee.
It does only work right now, because mining is so profitable.

[MiningUnited]

It's because this service doesn't really make sense.
You create another middle person, who isn't really needed.

I bet there is a large market out there from people who cannot mine for BitCoin.

In the long run it cannot be successful, because you will always lose to the competition who doesn't have to pay an extra-fee.
It does only work right now, because mining is so profitable.

Right. We are not going to continue doing this forever.

[Birdy]

It's because this service doesn't really make sense.
You create another middle person, who isn't really needed.

I bet there is a large market out there from people who cannot mine for BitCoin.

I don't doubt that. There are a lot of shares on future mining equipment sold in the market forum (and a lot of those are scam~).
Your approach is just very strange.

[MiningUnited]

Your approach is just very strange.

It's new, but it's working.

[tysat]

Your approach is just very strange.

It's new, but it's working.

It may be "working", just doesn't make sense in business terms.

[joker_josue]

How is something that made sense of the genre?

[borandi]

6 BTC a day is around 120 GHash, or 240 good GPUs.  Even at $300 a pop, that's $72k on GPUs alone.  Any chance we can get images of the setup where you are hosting?

[alexanderroth80]

It looks like a scam

[LavaWave]

Your approach is just very strange.

It's new, but it's working.

I think less is more! I think the more you try and explain your business model, the more some feel the need to bash it! I look at myself as being an investor in a startup company. Is their inherent risk built in? Yes! But like any investor, I assume those risks. I have been very happy with my return and their service to date. They have done everything that they have said they would do and then some. Any questions I have had through e-mail have always been answered very professionally and timely.

The bottom line - If you think it doesn't fit in your risk / reward criteria, then by all means don't send your bitcoins!

[Birdy]

Your approach is just very strange.

It's new, but it's working.

I think less is more! I think the more you try and explain your business model, the more some feel the need to bash it! I look at myself as being an investor in a startup company. Is their inherent risk built in? Yes! But like any investor, I assume those risks. I have been very happy with my return and their service to date. They have done everything that they have said they would do and then some. Any questions I have had through e-mail have always been answered very professionally and timely.

The bottom line - If you think it doesn't fit in your risk / reward criteria, then by all means don't send your bitcoins!

The huge amount of new accounts with 1-5 posts supporting it, does increase the doubt instead of lowering it.

[LavaWave]

The huge amount of new accounts with 1-5 posts supporting it, does increase the doubt instead of lowering it.

I do understand your point! But unfortunately I can't change the fact that it was my 1st post. I guess I could of posted about something irrelevant to just get my number of posts to a level of more credibility!  


MOD EDIT:
Fixed the quotation

[Birdy]

The huge amount of new accounts with 1-5 posts supporting it, does increase the doubt instead of lowering it.

I do understand your point! But unfortunately I can't change the fact that it was my 1st post. I guess I could of posted about something irrelevant to just get my number of posts to a level of more credibility!  

I don't blame you, it's just that it doesn't help ^^
Some random posts somewhere wouldn't increase the credibilty by much.
If it's a year-long member with 1k+ posts , then it's way more unlikely that he will mislead you.

[LavaWave]

I don't blame you, it's just that it doesn't help ^^
Some random posts somewhere wouldn't increase the credibilty by much.
If it's a year-long member with 1k+ posts , then it's way more unlikely that he will mislead you.

Respectfully I do have to disagree! First of all, just because someone has posted 1500 times on this board, doesn't make that person credible. I've seen posters on stock message boards spewing out garbage all day long and I've seen people that lurk on a message board and finally decide to share their wisdom and knowledge with the rest of us. BTW, I'm not trying to say that I'm the latter. 

At the end of the day, each individual needs to make the best decision for themselves in relation to their risk tolerance.

[MiningUnited]

6 BTC a day is around 120 GHash, or 240 good GPUs.  Even at $300 a pop, that's $72k on GPUs alone.

You could get that for $72k? 

Was more for us than that.