Please give your input on this cloud mining platform I invested a lot into

[Us3rm0d]

2nd attempt to start a topic and not get moved to the trashcan.

Please <-- (nice pretty word) let me know what you think about the legitimacy of these guys I just paid 3 BTC to.

Check out SierraHash.com

Please respond with your comments to see if we can figure out if this is legit or not.....because the way my math works out we should stop buying miners for personal use....NO POINT!

The platform does have a referral program that gives more hash power but I can't find anything at all negative about these guys and their datacenter is in iceland on Geothermal.
if you would like to repay me for cluing you in to a game changer then ask me for my referral info.....if not then happy mining anyhow!

Thank you <---(another nice phrase) Please don't move this topic to spam! I'm genuinely trying to get a group topic going.

NOT SPAM! OR SOLICITATION! <--FYI

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[Emoclaw]

First of all, 3 BTC ($33K) nets you 1289254 GH/s according to that website, which is 1289TH/s.
The best miner currently, which is the Antminer S9, offers 13.5TH/s for $1415. That would make 25 of the Antminers cost $35K for 337TH/s.

There's no way in hell that these guys are giving 5 times the hashrate of the best miner in the world for the same price. And there's also no way that 3BTC will give you a ROI in 10 days as the calculator says, ever.
Also, referral programs are not sustainable at all and are thus huge indicators that the website is a scam.
Sorry for your loss.

[Spoetnik]

Cloud mining shit is considered scammy crap.
They have such a bad reputation they are not listed as scams or not anymore.
They are considered one by default.

Avoid.

..read the scam section here. 

[master2080]

I never understood the point of cloud mining. If you have the equipment, why sell it for less profit? Where's the logic behind this action?

[blue_id69]

ah mate, you better use that money to buy real antminer or build your own rig mining by bunch of VGA anyway i never trust acloud mining platform they always end up scam and just for your information there no fast ROI in mining ever thats just ponzi scheme they run, before to late if that website support to sell ghs, sell yours and take your money back

[JTPhotography]

Yikes! Why not use hash flare or genesis?

[Xavofat]

these guys I just paid 3 BTC to.

I don't believe you.  No one could be stupid enough to do this.  You're probably trying to subtly get us to "invest".

Please respond with your comments to see if we can figure out if this is legit or not

It's not a debatable topic.  There is a 100% chance that this group will eventually scam their users or leave. 

I'm pretty sure I've even seen this template on a different Ponzi site as well.

[Us3rm0d]

Well the reason I tossed in 3 btc is because I got an immediate return.....and since I've been mining Foeva I figured what the hell...Those BTC cost ME $20....umm so I'm out $20 big whoop. You guys take **** WAY too serious!

It's paying out so I'm going in with or without you guys and we'll see. Worst case scenario I loose my initial investment of $20

I asked for advice from researchers....not opinionaters or haters

[Us3rm0d]

I bet you didn't know that their webserver was a multi node clustered server behind a load balancer, The Datacenter is in reykjavik iceland on Geothermal Power, and they're running new generation VSLI/ASIC but treating it like top secret.
If it's a ponzi scam or anything why was I able to withdraw everything to my wallet and cash out at a btc ATM today?

I'm curious to see how this plays out.

[newfix]

Don't trust in bitcoin mining, the most of them the are scam/ponzi projects, that only want to steal your money.
If you want to start mining, buy a good hardware and start mining by yourself

[Xavofat]

Worst case scenario I lose my initial investment of $20

You know perfectly well that it's irrelevant how much you bought the BTC for.  At current value, you're investing over $30,000 into a Ponzi scheme. 

For most people, that's over a year's wages.

I asked for advice from researchers....not opinionaters or haters

It's not a topic which warrants debate.  The service has:

-A very prominent, layered referral program
-A very specific return (10% per day)
-Such a high return that in a few years, they would be paying out more money than the amount that exists in the world.

[btcpepa04]

all poeple think bitcoin cloud mining was ponzi scam

[Phoenixpple]

Don't believe the so-called cloud mining. It's a fraud. I had a friend who had been on a platform for more than a month, and later told him that he did not give him the coins he earned. In fact, he didn't do anything.

[Us3rm0d]

ok...I get the opinions and distrust....TRUST ME! lol

As I said....I paid pennies for my btc so I'm treating it like pennies.

I invested 1 btc in this platform and got it back...now invested 3 btc and just got home from pulling $ from the btc ATM at the head shop by my place which I made from the hash power on Sierra's platform. If I get the rest out over the next couple of months how am I getting scammed???
So at value I put "$30k" 3 btc that cost me a couple of bucks years ago.
I literally just pulled $3000 USD from the magic ether of nothingness Scam???
So you think they're just going to shut down the server before I get the rest?

[Us3rm0d]

I'll update you guys in a few days to let you know if I got my initial investment back....I the site goes down in the next few days you guys can neener neener neener and "I told you so" every day for the next 365 of them. I still only lost a few bucks 

[odolvlobo]

I'll update you guys in a few days to let you know if I got my initial investment back....I the site goes down in the next few days you guys can neener neener neener and "I told you so" every day for the next 365 of them. I still only lost a few bucks  

This smells like a scam to me.

You claim that you bought $30,000 of hashing power at a cloud mining site, but you also claim that you are building your own cloud mining facility.

Not only that, but you promote the site on your FB page.

To me, it looks like you are running a scam cloud mining site and trying to hook suckers by pretending that you are just a customer with a good experience.

I predict that in the next few days there will be several posts by you and other newbies (who are really just you) talking about how they are making a good profit at that site.

[pikebu]

all poeple think bitcoin cloud mining was ponzi scam

Yes almost all of people on here, they are thinking that the cloud mining was scam but i don't think that all of the cloud mining services are scam, because i have found trusting cloud mining services like https://www.hashnest.com/ they are really mining the bitcoin and be supported by bitmain for the hardware of miners, unfortunately cloud mining activity is not peofitable because the cost of electrical and the difficulty of bitcoin, so not all of the cloud mining services are scam but they are not peofitable.

[SamReomo]

Cloud mining is not worth your money, and if you really invested 3 BTC into that site then I must say that you made a big mistake. Cloud mining sites for most of the time have been scamming people into putting their money on those sites. It is literally impossible for those companies to provide such mining setups that they promise. These people spend money in advertising to make fools out of newbies. They know the psychology of attracting others attention toward their sites. It is not smart to invest in such kind of sites and if you really want to mine Bitcoin then you should go towards Bitmain s9 Antminer because it is legit and will work for you as long as possible.

[Us3rm0d]

Nope Ditched the facility after investors backed out and my recent Divorce finally stopped burning if you'd like complete honesty.
Damn dude....you and everyone else! SCAM SCAM SCAM SCAM....Christ guys how the hell are you going to think outside the box or innovate anything in your life.

Break free and have some faith or trust.....OR both.

Yeah dude! Mr. scammy scam scam I put 3 bitcoin into something I think is going to skyrocket and I've been doing this for years.
I didn't put $30,000 into cloud mining! I put MAX $200! BECAUSE THATS WHAT I PAID FOR MY BITCOIN!!!!!! GOD GET IT???

[Us3rm0d]

Just to be honest...My previous background was Hacking and IT so I'm OK at research.
Do your research on these Sierrahash guys. a little google earth, sniffing for load balancers n such, clustered nodes.....etc. found google earth imagery of the tops of their buildings and traced purchase orders for hybrid VLSI ASICs. Oh and Geothermal power in Iceland using prechilled air from outside to cool =What children?

put your big boy pants on and do research!
I don't care about your Opinion honestly!
Show me facts and stop hating at the fact that I figured out what you didn't and your left with 20 breadracks full of S9s that you're sunk into like my old partner