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

[BurtW]

You can do what we did with Trendon Shavers, TFB(tm).  Report him to the SEC, FBI, and every other TLA you can think of.  But the TLA that has the best chance of doing anything is the IRS.  They will gladly go after him for not reporting an extra $75K in income.

To do this you guys will need to figure out exactly who he is first.  If you can do that then reporting him to the IRS is pretty simple.

[chloroethane]

Hi. I got scammed too.
https://blockchain.info/address/172aztKix5hWUSu773MN8T2r9mHjCetSnu

[blindfaith]

Who/Where/Huh? - "we've" got the guy then?
.. Anyone live close?

[joker_josue]

I think to be able to do some denounces had to know who he is. Anyone know?

[chanson]

Am I experiencing deja vu: https://hashrack.com/ ?

[bitpop]

Scam. People think about it, why would they take a LOSS? when they could keep their Bitcoins

[keatonatron]

Am I experiencing deja vu: https://hashrack.com/ ?

That looks a little different....

Their website is missing a lot of info, but it looks more like a mining contract. You send them bitcoin that they use to purchase mining hardware and then you get a % of the bitcoins that hardware mines. It appears to take almost a month to get any return on your investment.

It's not inconceivable--if they use your BTC to pay for 100% of the hardware, and if their fee (3% of the earnings) is enough to pay for electricity, then they are losing nothing on the deal. Doesn't necessarily scream scam to me. (They must have really cheap electricity, though!)

[blindfaith]

There's also www.cloudhashing.com which has a very similar set up!

[kodo]

Yep you guessed it. Scammers

[bennett616]

Iz dis lejit?

Andy B

[ahmedbodius]

still no communication and no payment

thanks

[wiser]

For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible?  Do the projected yields make sense?  Has anyone ever worked with them?  If so, what was the experience?  I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.

[blueblade123]

For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible?  Do the projected yields make sense?  Has anyone ever worked with them?  If so, what was the experience?  I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.

Looks plausible. Nice website design. But I have never worked with them, and don't really have the extra $243.14 to do a contract, because I think just getting the 1 year contract would be stupid. (If this was/is real.)

[odolvlobo]

For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible?  Do the projected yields make sense?  Has anyone ever worked with them?  If so, what was the experience?  I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.

The site estimates that 1 GH/s will earn 6 BTC after a year, but I think that is ridiculously optimistic. Currently, 1 GH/s earns about 14 BTC/year; however, the hash rate has quadrupled in the last 3 months and it is likely to continue rising very steeply. If it quadruples again, 1 GH/s will only earn about 3.5 BTC/year. Furthermore, the site keeps 40% of your money, which will also cut your earnings nearly in half. You can compare this site to mining bonds on BTC-TC to get a good idea how reasonable the deal is.

Also, the site is completely anonymous. Does sending hundreds of dollars to an unknown person in another country seem like a smart thing to do?

[hellotre]

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

[wiser]

For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible?  Do the projected yields make sense?  Has anyone ever worked with them?  If so, what was the experience?  I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.

The site estimates that 1 GH/s will earn 6 BTC after a year, but I think that is ridiculously optimistic. Currently, 1 GH/s earns about 14 BTC/year; however, the hash rate has quadrupled in the last 3 months and it is likely to continue rising very steeply. If it quadruples again, 1 GH/s will only earn about 3.5 BTC/year. Furthermore, the site keeps 40% of your money, which will also cut your earnings nearly in half. You can compare this site to mining bonds on BTC-TC to get a good idea how reasonable the deal is.

Also, the site is completely anonymous. Does sending hundreds of dollars to an unknown person in another country seem like a smart thing to do?

Thanks for the number crunching.  That's exactly the sort of information I was asking for.  There is another thread on this forum about Cloudhashing.  While it's not entirely clear that they are a scam (though some are convinced they are), they still may not be a good investment, and you really can only determine that if you have a good understanding of how Bitcoin mining actually works.

[blueblade123]

I think he was just asking about the reputation.

[alani123]

Should we expect an ULTRA MASSIVE drop of the BTC price after the news go out in public?

[LavaWave]

Fool me once shame on you, feel me twice, well I'm just a dumbass with BTC to throw away. Don't be that guy! 

LOL! Yeah i don't think that's how it goes!

[bitpop]

Please, all of you that must be scammed, invest in the bitcoin faucet and help new people.