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

[Toadee]

This strongly smells like a scam.  Things like: No "referrals" or "pyramids"  and from the FAQ: Here at Mining United (MU) we are hoping that people initially call this website "a scam" or a "pyramid scheme" or "people who are going to rip you off".

[bennett616]

Should be receiving my 0.05 + the bonus, whatever it is now, today....... Watch this space

Andy B

[cp1]

Thanks for the updated info.  Originally I thought you were taking 0.25 and generating 0.30 for each member in 4 days, which would be an incredibly high hash rate.  Taking 0.02 and generating 0.07 seems doable, though still it's a high hash rate.  I looked at ways to rent GPU clusters, but everything I found used Nvidia and would cost more than they would return.  I guess I wish I found your rental source first

[BurtW]

Returning 8.9% interest compounded daily is a good enough reason for me to warn people.  Think about it, how can someone afford to keep paying out interest at a rate like that?

Tysat You are missing some key factors:

1) Mining United has stated they are not doing this forever
2) Currently they have the mining power to pay this out
3) Their payout rate changes over time, with difficulty, etc
4) They make money on premier memberships
5) They ARE NOT accepting new purchases at this time meaning that THEY HAVE THEIR LIMITS

You must be confused by the fact you think they are 1) Doing this forever, 2) Always going to take new purchases, 3)Always paying out that rate



Tysat I actually thank you for playing devil's advocate as it is helping to get these questions that need to be answered - but so far, all checks out.

This is almost a word for word exact quote of the kind of stupid shit I used to say about Trendon and BTCS&T !!

It is just like looking in a mirror and, like I said, I hang my head in shame every time I recall spouting crap like this and defending an obvious ponzi scheme.

[MiningUnited]

Just read the full story of what happened with "BitCoin Savings & Trust". Wow. Completely understand why there are such strong emotions. We have no relation to "Trendon Shavers or any related websites or services.

[MiningUnited]

We apologize to anyone who wants to use our service as we are not taking new purchases at this time. In order to keep the payout times low and secure a payout to all current users we are not allowing any more purchases until we have paid out our current users and have made more room. You can check the homepage for more information.

[BadBear]

We apologize to anyone who wants to use our service as we are not taking new purchases at this time. In order to keep the payout times low and secure a payout to all current users we are not allowing any more purchases until we have paid out our current users and have made more room. You can check the homepage for more information.

What a coincidence  . More typical ponzi red flags.

[MiningUnited]

I am sure anything we do will be considered a red flag by you and a few posters in this thread, and that's ok. If you think not allowing new purchases to payout our current users in a more timely manner is a red flag, then you have a right to your opinion. As you can see we have maxed out on users, this thread has done nothing but boost our purchases.

We are doing extremely well, all payouts are accounted for, and have had no issues.

[cc]

They have a PREMIER MEMBER option, where the membership price is increasing constantly and the current price is 1 BTC already:

Only ( 1 ) Spots Left Until Price Increases!

Source: http://www.miningunited.com/pre.html

It could be a pyramid game if they pay the profit from what they get for premier memberships. Beware.

[d2.cc]

Pyramid scam seems likely, but perhaps not

[MiningUnited]

It could be a pyramid game if they pay the profit from what they get for premier memberships. Beware.

It is to make the service more selective as there is a max amount of spots we can sell. We are only selling a total of 50. This does not fit the "pyramid" game. It is more like a square, or maybe rectangle?

[sob317]

I'll weigh in with my experience.
Thought for sure it was a scam but figured I'd drop a .1 BTC payment to check them out.
Made payment on 4/27 and received a payment of .1109 BTC back on the 2nd of May.
Not much else to say, I wouldn't dump all my coins over there but they did do what they said they would.
Sent them over a couple more payments, will post results.

[n. perumov]

definite scam

[s1nister]

Possible Scam.

[borandi]

As on the website

We take a percentage of the payment (around 0.01-0.04 BitCoin at this time) and use it to pay for the mining equipment, the rest is set aside (around 0.21-0.24) to be added to the payout later.

This means that the 280 BTC you list as a payout is clearly false, if you are giving back up to 0.24 BTC of the original 'investment'.
Total payout should be (what you send out - what you took in), not just what you send out.

Also, pictures of rigs?  The screenshot of what you have on your website is just from a web calculator, not a BTC interface saying hash rates.

[bitpop]

Exactly this is a long con. They spend their own coins and investments insuring perfect payouts. But theres nothing stopping them from disappearing ANY SECOND. I would disappear when I have 100,000 btc.

Why say it's a scheme ... but until now, only people who show up here say they have received what was right. Has anyone said that has not received anything?

Everyone has received their payout, actually, even earlier than expected. That is why no one is coming here saying they "didn't receive a payout", because everyone has.

We have paid out for over 1,200 purchases, and have about 800 current payouts that need to be made.

I don't even doubt that. But that's not the problem, the way this is structured you could run away with all Bitcoins stored any day. Maybe it's not tempting right now, but once there are 1000+ BTC in there...
What we need are more reasons to trust you, not more reasons to trust the payments til now.

[tysat]

definite scam

Possible Scam.

These kinds of posts add nothing... you guys should give some evidence or tell your story.

[Leapfrogg]

The website doesn't make me want to trust them.

[joker_josue]

Exactly this is a long con. They spend their own coins and investments insuring perfect payouts. But theres nothing stopping them from disappearing ANY SECOND. I would disappear when I have 100,000 btc.

This is something that happens with any investment you make. You can win or lose.

Those who invest in the stock market, which has guaranteed it will be the return on your investment? Today can run well ... not tomorrow.

[Birdy]

Exactly this is a long con. They spend their own coins and investments insuring perfect payouts. But theres nothing stopping them from disappearing ANY SECOND. I would disappear when I have 100,000 btc.

This is something that happens with any investment you make. You can win or lose.

Those who invest in the stock market, which has guaranteed it will be the return on your investment? Today can run well ... not tomorrow.

That's not the same as planning ahead to run with the money at all.