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

[kentt]

Sent 0.25 * 2.  We'll see what happens
Will post back next week.  PM me if I forget.

[MiningUnited]

Sent 0.25 * 2.  We'll see what happens
Will post back next week.  PM me if I forget.

Look forward to generating some BitCoin for you!

Thank you for paying for our equipment so we can generate some BitCoins for you, and us here at MU!

[rapidchris]

I was very wary about this site as it seemed too good to be true but can confirm my .05 has just been returned as .0544

Took 5 days from start to finish - I only have done this once but thought I'd share my experience.. I sent the smallest payment option to prevent major loss but wishing I had put it the larger order now lol greed gets to us all!

Kudos MiningUnited (Y)

[blueblade123]

Hey, it works. No idea how long term this site will be, but I'll continue to use it and I hope for the best. I was one of the very early adopters.

I would like to see limits on how many slots one person can take though. I think a good limit would be 2-3 for basic members, and 5 for Premium members? Even though I'm a basic member right now (soon to be rectified as soon as I get my bitcoins back from MU), I think it would be best to have some kind of limit. Otherwise, the person who has 100+BTC's, can just use up all the slots constantly, and pretty much own the server for 96 hours.

EDIT: Was out of the country the past week and just caught up on the thread. Good to see MU moderators here to clear things up.

[bitpop]

How do you suggest enforcing that?

[blueblade123]

How do you suggest enforcing that?

Kind of a hard one. The only thing I can come up with is refunding payments over a certain number (example, 5) from the same wallet address.

Another option would be a registration page. Have to create username and password account to use service. That would be more of a pain though, as you loose the anonymity of bitcoin transactions.

[cp1]

People have unlimited addresses to send from

[odolvlobo]

I wonder where they are renting their hardware from.

MU claims to have paid out 406 BTC since April 18. That is 20 BTC per day.

In order to mine 20 BTC per day, they need 400 GH/s, which requires constant mining on at least 570 top-of-the-line graphics cards. They can't be renting from Amazon. Perhaps OnLive is renting out spare capacity.

I'm also curious how they can make money. Amazon charges about $0.50/hour per GPU, and the cost to rent 570 GPUs would be $6840 per day. But they are mining only $2200 per day (at $110/BTC), so they must be getting the GPUs for really really cheap -- less than $0.16 per hour, or 1/3 of the price of AWS.



Hey, MU!

Can you tell us whose cloud you are using and how you are getting such a good price? With that capacity and that cheap price, I definitely have some projects I want to start up. I could make a ton of money running a rendering farm.

[bitpop]

Maybe this is legit and they found a way to monetize onlive

[datascape]

At first, I was a bit cautious of MU. However, I sent in one or two transactions and, sure enough, earned a bit of BTC back. So far, things have gone smoothly. Will they keep doing this forever? Highly unlikely. For now though, MU seems legit. I plan to keep using them.

[Maged]

At first, I was a bit cautious of MU. However, I sent in one or two transactions and, sure enough, earned a bit of BTC back. So far, things have gone smoothly. Will they keep doing this forever? Highly unlikely. For now though, MU seems legit. I plan to keep using them.

If you insist on continuing to use them, never forget that you are gambling. This is not a legitimate enterprise, so don't accidentally convince yourself otherwise.

[pwi]

At first, I was a bit cautious of MU. However, I sent in one or two transactions and, sure enough, earned a bit of BTC back. So far, things have gone smoothly. Will they keep doing this forever? Highly unlikely. For now though, MU seems legit. I plan to keep using them.

If you insist on continuing to use them, never forget that you are gambling. This is not a legitimate enterprise, so don't accidentally convince yourself otherwise.

Thank you. Disruptive tech nearly always brings two types of people to the digital surface.  The scammer and the mark.  Don't be either.  I'm not calling anyone out, but appreciate a mod stepping in and adding clarity for us noobs.  Thank you <3 PWI.

[scalar33]

This is interesting, as always don't invest more than you can afford to lose.

[miningusa]

If it sounds too good to be true... 

[xilin]

just send 0.05 to see what will happen

[bitpop]

Send or sent?

[newtothescene]

Got my 0.1 back with a little extra:
---------------------
2230    13KzzKtzduQZufoFAhn63HfRrQB1aaQNHN    0.10    B    P: 5/10   B: 5/11    0.1091    Sending…
---------------------

It did take a little longer than I originally had planned/calculated, but after reading other comments/explanations in this threat the timing is actually well within the expected window.  Not sure if I will use them again, but did want to share my results for others to see.

Thanks!
New

[Jaseph]

Has anyone noticed the site hasn't been updated for a few days. Anyone get a payment in the last day or so?

[sal002]

I was very wary about this site as it seemed too good to be true but can confirm my .05 has just been returned as .0544

Took 5 days from start to finish - I only have done this once but thought I'd share my experience.. I sent the smallest payment option to prevent major loss but wishing I had put it the larger order now lol greed gets to us all!

Kudos MiningUnited (Y)

Says the scammer

[MiningUnited]

Has anyone noticed the site hasn't been updated for a few days. Anyone get a payment in the last day or so?

Not many new purchases yesterday. The site is updated daily.