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Author Topic: ICE ROCK MINING - SCAM!!!  (Read 1168 times)
GeorgeBo
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March 16, 2018, 03:22:43 PM
 #1

be careful, they are scammers.
here are the facts, at least my experience with this scam team.
i invested în rock1 in october 2016 and nothing happend. Then i started to ask what is happening on facebook they didnt answered many months ago then i asked questions on telegram, and i found out that in order to get that mining hash i have to talk with some guy Diias but he is never rechable... and i was kicked out from telegram group rock1 and rock2... so now i WARN people to not lose money.
More that this some russian friend warn me saying that he talked with dias in russian language and he warn me not to invest but i tried with a small amount.
I cant wait for ICO reglementations but this type of guys deserve harsh punishments.
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March 16, 2018, 07:03:52 PM
 #2

i invested în rock1 in october 2016 and nothing happend.

Tell us a bit more detail about that transaction. It's quite a long time ago.

Quote from: IceRock
*439% ROI*

 Lips sealed

Extraordinary Claims require Extraordinary Evidence
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March 16, 2018, 07:05:36 PM
 #3

be careful, they are scammers.
here are the facts, at least my experience with this scam team.
i invested în rock1 in october 2016 and nothing happend. Then i started to ask what is happening on facebook they didnt answered many months ago then i asked questions on telegram, and i found out that in order to get that mining hash i have to talk with some guy Diias but he is never rechable... and i was kicked out from telegram group rock1 and rock2... so now i WARN people to not lose money.
More that this some russian friend warn me saying that he talked with dias in russian language and he warn me not to invest but i tried with a small amount.
I cant wait for ICO reglementations but this type of guys deserve harsh punishments.

In 2016 that you made the investment, a novice in crypto world knows that anything related to cloud mining has 99% chance to turn to scam but you chose to add to their money by going there to invest because of the returns they surely must have promised which in this case would never come. I wonder why you have to wait 2 years after before you try to warn people, I guess you were hoping that your money will come eventually but unfortunately the day you sent that transaction if its bitcoin, the moment it has one confirmation, that is the end. You done you part in bringing awareness, you can only wish it helped someone from making such rash decision.
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March 17, 2018, 12:42:12 AM
 #4

be careful, they are scammers.
here are the facts, at least my experience with this scam team.
i invested în rock1 in october 2016 and nothing happend. Then i started to ask what is happening on facebook they didnt answered many months ago then i asked questions on telegram, and i found out that in order to get that mining hash i have to talk with some guy Diias but he is never rechable... and i was kicked out from telegram group rock1 and rock2... so now i WARN people to not lose money.
More that this some russian friend warn me saying that he talked with dias in russian language and he warn me not to invest but i tried with a small amount.
I cant wait for ICO reglementations but this type of guys deserve harsh punishments.

 I sent the Ice Rock mining an investment inquiry .. i asked them if they could tell me what would be the suspected moisture and humidity levels in the cavern when they are at full capacity... i never got a response back.. 

You may think this a silly.. but think about it.. dry ice cavern. Just wondering how many miners would it take to change the cavern environment..  Im not to impressed with their racks...
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March 17, 2018, 08:55:16 AM
 #5

i invested în rock1 in october 2016 and nothing happend.

Tell us a bit more detail about that transaction. It's quite a long time ago.

Quote from: IceRock
*439% ROI*

 Lips sealed


I invested in ROCK1 in october last year, initialy they said that starting 1st feb they will start to mine, then at the end of feb, now its almost the end of march and it someone told me that they have sold out all mining contracts. they say that the initial funds raised are still in BTC and eth and they were hit by this crypto reccesion. i dont have much info cuz they banned me from their telegram channels... someone told me that they look like some kids who dont know what they are doing rather than some pro scammers. I dont know anything for sure at this moment. the only thing that is for sure is that i invested in ROCK1 and now they said that all mining contracts are sold out..
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June 17, 2018, 10:01:02 AM
 #6

be careful, they are scammers.
here are the facts, at least my experience with this scam team.
i invested în rock1 in october 2016 and nothing happend. Then i started to ask what is happening on facebook they didnt answered many months ago then i asked questions on telegram, and i found out that in order to get that mining hash i have to talk with some guy Diias but he is never rechable... and i was kicked out from telegram group rock1 and rock2... so now i WARN people to not lose money.
More that this some russian friend warn me saying that he talked with dias in russian language and he warn me not to invest but i tried with a small amount.
I cant wait for ICO reglementations but this type of guys deserve harsh punishments.

The people running ICE ROCK mining are full of shit. The Admins there are always threatening to ban people for posting messages that they do not 'like' to hear. Any negativity towards mining in general or any form of criticism towards the team or their decisions are faced with account ban in Telegram Chat and your messages deleted. Simply because they can't handle the truth and they simply do not respect investors time and money.

Up to the very last day of the ICO, their Admin named Jesus was saying everything is on track and that orders will be placed for miner at the end of May, delivery of miners will take place in June and mining will start in July and first payment of dividends will take place on 29th July. Just 5 days after the close of their ICO, the scene has totally changed and they are now saying they are waiting for new generation of miners and will wait 3-4 months or even more for new generation of miners. Full of shit people.

Just stating the facts on their Telegram chat faces a ban and your messages deleted, because they are a big bunch of irresponsible people and can't handle the truth.
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June 17, 2018, 11:24:27 AM
 #7



https://i.imgur.com/pfHKxE7.png

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June 17, 2018, 12:52:21 PM
 #8


i invested în rock1 in october 2016 and nothing happend.

Have their ICO been going since 2016? How much did you invest? Perhaps the price has grown tenfold since that time.

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June 17, 2018, 01:16:06 PM
 #9

A couple of cross posts from their self modded thread

You can buy and sell rock2 tokens here:

https://token.store/trade/0xc16b542ff490e01fcc0dc58a60e1efdc3e357ca6

They are currently under ICO price.


With all the rumors of new miners coming out soon buying bulk s9 ballzy move.


Isn't it just? I guess they feel the need to start generating some income, any income....that ROI needs paying, but they ain't going to do it with S9's.
They are immediately available and cheap tho, so maybe the cave will be humming by say early July? (Obv. no June profit= no June payment?)
On current difficulty and price, I estimate 30 days mining with 500 X 'averaged out S9's' will return something in the region of $60k gross.

That breaks down as

50% return to investors of $30k
20% retained for reinvesting  $12k
20% expenses $12k
10% IR keep $6k

Three questions:
What's the ROI on all the tokens sharing $30k return between them? "400% annualized?" Na.....

When do they reinvest the $12k what do they buy, when does it come online and start earning?

At $0.03 per kWh, in 30 days 500 S9's will use about $17,000 of electricity. How does that $17k come out of $12,000 allowed for all expenses, including electricity, staff, security etc.?


Extraordinary Claims require Extraordinary Evidence
angel55
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June 17, 2018, 01:26:13 PM
 #10

This was an obvious scam from the start.  I feel bad for the investors but they should have done more research.  Just the name alone sounds super scammy, ICE rock mining, give me a break.  They promised unrealistic returns like always and people still get sucked in.
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June 17, 2018, 09:05:00 PM
 #11

This was an obvious scam from the start.  I feel bad for the investors but they should have done more research.  Just the name alone sounds super scammy, ICE rock mining, give me a break.  They promised unrealistic returns like always and people still get sucked in.

That's exactly right. It was honestly as obvious as it possibly could have been, and yet people's greed still take over their judgment when they make the decision of investing, just because there are a few seemingly legit promo vids and some real life spokespeople.

Like if you look at their calculator for profits, you'll see that your ROI per year will be 400% or more.

That's either misleading advertising, or scam. No way they will actually provide guaranteed profits like that. As far as I'm concerned in both of these possibilities, it means that Ice rock is a shady company people need to stay away from.

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June 17, 2018, 09:12:05 PM
 #12

It will be nice to see some regulations in the cryptospace, Cloud mining scams were prevalent in 2016 and 2017.Before you invest in any cloud mining stuff,there should be evidence of a real farm,not ponzi schemes like those done by hashOCEAN.Be careful with any investment.Too many scams.
Marcel Beliveau
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June 20, 2018, 11:16:39 PM
 #13

Hello,

I fully understand your reactions.

To my opinion, they are not scammers and have a good sense of honor....But they started this project with a huge lack of experience and not at the right time at all.

I anyway believe in this project (long term view) because it's true that energy in KZK is extremely cheap and because the premise is great.

It's hard to find better conditions for mining...

Let's see! That's the game...as long as they are working on the project you can't say they are scammers.

Marcel
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June 20, 2018, 11:19:56 PM
 #14

Everyone who are serious on crypto/at least stock markets are well know that %400 roi is impossible. When you hear such as guaranteed profit you should stay away and keep safe your pocket money.
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June 29, 2018, 09:48:09 AM
 #15

Hello,

I fully understand your reactions.

To my opinion, they are not scammers and have a good sense of honor....But they started this project with a huge lack of experience and not at the right time at all.

I anyway believe in this project (long term view) because it's true that energy in KZK is extremely cheap and because the premise is great.

It's hard to find better conditions for mining...

Let's see! That's the game...as long as they are working on the project you can't say they are scammers.

Marcel

This is a reasonable, if generous, point of view to a certain extent.
However their "sense of honor" didn't extend to amending the "theoretically possible in freak conditions" ROI claims that they were continuing to make while the ICO funding was going on, despite them being wildly optimistic and misleading. Caveat Emptor, I guess.

There is no knowing how long this high difficulty/low price scenario will extend for and, whilst IR have no choice but to small scale mine with virtually unprofitable S9's, the ROCK token holders will receive dust payments, if any.

Ice Rock have now all but abandoned their media contact with investors and refuse to be honest about the ROI situation, so not much "honor" there either.

They still found time to delete this factual post tho

Quote

We will not change our business model.


How are you going to pay your maintenance and electricity bills if you don't? 20% is not enough given the real world situation now prevailing.
Is your business plan "hope that the BTC price goes up"?

Anyway, you have already changed your business model, your white paper is part of it and the road map says quite clearly

Quote
June 1st: purchase of equipment

It doesn't say

Quote
Buy nothing on June 1st then, 10 days after the road map deadline, decide to have a vote (!!) about what mining equipment should be bought, if any




But not enough time to answer this one

how much would 10,000 rock2 return when bitcoin is at 10,000kusd? any way to tell? its going to be pretty much like 70-120 a day im thinking
or 50-80 usd a day
...

When Bitcoin first hit $10k (Dec '17) the difficulty was 1,347,001,430,558, with 9,642 PH/s hashing.
These have both increased by a factor of ~4 in the last seven months.
Before operating costs, now 1 TH/s would gross ~$15 per month at current difficulty if the price was $10000, whereas at Dec's lower difficulty that would have been ~$57.
It is extremely unlikely that we will see December level profitability again, certainly in the near future. That anomalous (freak) rate of return was what IR decided to use as typical for the future, with their 357% etc. ROI nonsense.
How much each token will receive depends on how much hashrate output is allocated to it, which in turn depends on how many miners are being deployed. With the small amount of mining actually being currently done, any ROI per token will be minimal.

As I pointed out in a previous post (not deleted yet), there is also the question of the 20% operating cost allocation.
Whilst miners that consume more than 20% of their output in operating costs (like the S9's do now and will probably continue to do so) are being used, it must be asked, "Where is the extra money coming from to pay the bills, from what account?"
There are three possible options:
1)From the 20% re-investment allocation
2)From the 50% profit distribution
3)From the Ice Rock 10% retention

If they choose 1) or 2), then they are effectively using (your) previous invested money to pay (you) dividends, which is a classic definition of a P*nzi Scheme.



Meanwhile ROCK2 tokens are trading around $0.26, bounty tokens and commission payments are delayed....

Extraordinary Claims require Extraordinary Evidence
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June 29, 2018, 11:16:53 AM
 #16

I remember once i was contacted by them to develop the ICO dashboard and for them i even contacted my local friend who could had done this but they went silent after hearing the service price. Though i never felt them as scam dont know why their model failed.

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June 29, 2018, 11:27:18 PM
 #17

be careful, they are scammers.
here are the facts, at least my experience with this scam team.
i invested în rock1 in october 2016 and nothing happend. Then i started to ask what is happening on facebook they didnt answered many months ago then i asked questions on telegram, and i found out that in order to get that mining hash i have to talk with some guy Diias but he is never rechable... and i was kicked out from telegram group rock1 and rock2... so now i WARN people to not lose money.
More that this some russian friend warn me saying that he talked with dias in russian language and he warn me not to invest but i tried with a small amount.
I cant wait for ICO reglementations but this type of guys deserve harsh punishments.

It was my understanding that Rock1 and Rock2 ICOs were run differently using different mining strategies.

For Rock1 you needed to buy the Rock1 tokens and then use those tokens to buy (active) mining contracts each month. You get paid per contract.  If you simply held the Rock1 tokens in your wallet then you would get no mining payout.

Rock2 is passive meaning if you buy this token and hold it in your wallet that is registered with Ice Rock then you get payouts from their collective  mining.

Perhaps you got no Rock1 payouts because you did not read the white paper or website carefully to understand how income is generated?

If this is the case that you did not actually buy mining contracts with your Rock1 tokens then,  sorry,  but this is your mistake and not Ice Rock.

 I heard in the Ice Rock telegram group that the Rock1 payouts were delayed and less than expected but they did do payouts.

The Ice Rock team seems *VERY* inexperienced with project development and management. They may not be a scam but just muddling their way through setting up their mining businesses for Rock1 and 2  post ICO.
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July 12, 2018, 09:04:26 PM
 #18

I don't see a scam. The numbers they give for ROI are possible, but improbable.However they have installed new cabling for the power demand of the miners already, ordered 500 S9 Miners (only 10% of the investment for miners, like the majority of token holders voted) and are gonna get the new Bitmain model as soon as it comes out. They might not be the most experienced guys in this business but they seem legit.

The level of humidity would only be a problem if your devices get cold and condense the water, which will never happen if they are on 100% of the time, which is the case in a mining facility. I run back in 2013 around 7 GPUs on 2 computers on my balcony during 7months nov 2013 through may 2014 and they were outside. It didn't matter how cold or how much humidity, the flow of air and the higher temperature of the devices in relation to the environment avoids any kind of condensation problems that could damage the circuits. Actually high levels of humidity would only help dissipate heat better since humid air is more difficult to change its temperature (specific heat).

I keep buying tokens at 0,32$-0,34$ since weeks, enjoying the low prices. Once we get out of the bear market and the miners are running, this could be a very good business. Calling it "a scam" is dumb and unfounded. Bitconnect was a scam. This is just another young project with a sales pitch that was improbable, but if you do your own calculation, you know that you can get your ROI in a longer period of time, which for me is perfectly fine, specially if I got the tokens at 1/3 price of the ICO.
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July 14, 2018, 08:50:37 PM
 #19

I keep buying tokens at 0,32$-0,34$ since weeks, enjoying the low prices. Once we get out of the bear market and the miners are running, this could be a very good business. Calling it "a scam" is dumb and unfounded. Bitconnect was a scam. This is just another young project with a sales pitch that was improbable, but if you do your own calculation, you know that you can get your ROI in a longer period of time, which for me is perfectly fine, specially if I got the tokens at 1/3 price of the ICO.

Can you share where you buying them? Only place i found so far is ForkDelta
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July 17, 2018, 05:55:01 PM
 #20

which opinions are correct, one of the opinion says scam and some are still supportive, because I have joined on its ICO and already get ROCK tokens in my myetherwallet, I begin to worry about this project

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