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Author Topic: SCAM? coingeneration.com  (Read 13734 times)
AniceInovation
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Interesting.


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April 21, 2013, 12:21:07 PM
 #1

A friend just sent me this and insisted that i registered and run their software.
Supposedly for every thread you open, you gain 1$ per day, mining on a CPU.

He showed me his counter and he has already over a dollar.

I call this a scam until the money is actually on his bank account, and even if it did, i will still call it a scam, because a CPU will not mine 1$ worth of bitcoins per day.

Discuss.

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April 21, 2013, 12:25:42 PM
 #2

it will probably take bitcoins from you instead of giving you anything
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April 21, 2013, 12:45:11 PM
 #3

I didn't check out the link and I'm not going to.

But yes anything claiming you can make $1 a day CPU mining is if not a scam at least a flat out lie.

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May 14, 2013, 10:24:52 AM
 #4

they are not generating bitcoins instead they r using the combined cpu threading power to calculate geological location and other kind of stuff related to science.

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June 26, 2013, 12:45:43 PM
 #5

This is another example of a software/programme promising more than it delivers. I know of at least one member here, known for his numerous "get rich quick" schemes, that is promoting this. A close friend also analyzed this, and advised it is complete junk, and compared it to bot ware.


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dmatthewstewart
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July 15, 2013, 11:01:03 AM
 #6

Heres my idea: There are in fact scientific programs that give you a chance to make money regardless of the process they use your CPU availability for. But, and this is key, they always have an explanation of what it is they are using your CPU for or how you need to use it to help them. Even when they pool CPU usage like in Prime 95. Now, its trademark "Torture Test" is used by overclockers to benchmark their system performance. But, it is actually used for Mathemiticians to find new prime numbers. You can participate too, and they will pay you. And, its clearly stated on the site.

Coin Generation explains nothing. They tell you as little as possible. Huge red flags. Now, even if they put an "Info" page up or FAQ I would be suspicious. Honest people wouldve made that their priority. Notice that even before sites launch their services they have an explanation up first. Think about Ripple (XRP), which people say (and I agree) is a scam. They still had a website with full explanation up for months before launch

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July 15, 2013, 11:05:13 AM
 #7

https://bitcointalk.org/index.php?topic=246612.msg2633880 here's the discussion.

most likely a scam / trojan. do not install or use.

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July 15, 2013, 11:40:28 AM
 #8

they are not generating bitcoins instead they r using the combined cpu threading power to calculate geological location and other kind of stuff related to science.


No, they're not. You get processing power far cheaper than that.
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October 21, 2013, 02:44:28 PM
 #9

you misunderstood it, coingeneration dont use your CPU for btc minning but for computing some other tasks in my oppinion.. many people uses them but i wont support them because im afraid about my privacy and how my CPU is used...  Huh

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December 27, 2013, 01:49:59 AM
 #10

It was obvious that the big guys try to get into coin business too. They actually started a fair tough approach backed by press and media (ripple), the departments they are strong in, cause perception is more important then reality... sadly
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