Scrypt.CC | Scrypt Cloud Mining

[alienesb]

any news? update? ..what's going on with scrypt.cc? 

Rewards went up about 60%, price per KHS around 1k. Good times.

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[LsHallo]

i have just withdrawn my todays earnings, no problem, even though the server is slow, took like 20 minutes to get out of scc into blockchain

Is the trade page and auto-reinvest working ??
It would be nice if you could please tell a bit more....
Its taking long for me to visit the site.

Trade and auto invest are working now for me again. About withdraw i cannot provide information. Trollbox seems not to be back online.

[dannyprats]

I mean... What's going on with the site?
server problem I guess..

[Roquene]

Think admin is again working on the server.
trading works fine. mining anyway. withdraw instant.

trollbox is nothing i really miss ..

[dannyprats]

Think admin is again working on the server.
trading works fine. mining anyway. withdraw instant.

trollbox is nothing i really miss ..

Yes... Also I miss my friends in trollbox    ..

[Gultahin]

My shoot is that the new reward rate brouth more investors (or at least made investors start spending ther so far kept bitcoins) with a much bigger volume on buy/sell orders being complete the server has been working on it's limit, and trollbox should probably be disabled so trading can keep going while and fix/upgrade is on it's way.

[shadows123]

Trollbox chat not working?

[Smooth0ne]

Got rewards and withdraw only took about 25 mins. This has been the norm for the past 2 months for me,aside from the 3 days we were down. I can only speak toward my experience though. 

[masterfu678]

@masterful:

You have to realize I'm using block times, block rewards, and current market prices.  This is the most basic information available for any coin.  I know some people might not know where to find comprehensive info like this on a large number of coins, and I'm happy to show them as I did in my last post.

But it's the same thing as if I did an analysis of Bitcoin and used:

Block reward: 25 btc
Block time: 10 minutes
Nethash: current info from blockchain.info

I mean, this is just what everybody knows about Bitcoin.  It's no secret.  It's the same with scrypt coins.  The information is readily available and verifiable.   Anybody has access to it.  All I'm basically doing is multiplying the numbers and showing the implications for scrypt.cc.  

The thing is, with the disagreements to my posts, nobody has put forward a data-based, verifiable counter argument.  Why don't you provide one?

All right, you want me to provide a data based, verifiable counter argument?

Take a look at this blockchain
https://blockchain.info/address/1HWqsgnSd12Gv8SpoUMi1Cj8hp79BTSpW7

This is the wallet of the site owner, as you can see, it has about 983 BTC in it(at the time of this post being written), with a total of 30689 BTC received. I got this address in the chat back in May 11 when scrypt.cc had the data center problem where all of their mining power were shut off and they had to move to a new DC, people somehow found it.

With this amount of BTC, all the owner need to do right now is shut down the site and take all the Bitcoin away, because 983 BTC is around R$697,916(he lives in Brazil) right now, depending on how high BTC to Brazilian Real rises. That is a lot of money by Brazilian standards, the guy could shut the site down and buy a house and/or nice car with that amount of money, but he never did it, the site had been around for more than a year and it is still up and kicking.

This is the cost of living in Brazil, recently updated data:
http://www.numbeo.com/cost-of-living/country_result.jsp?country=Brazil

And this is the average salary of people in Brazil earns:
http://www.salaryexplorer.com/salary-survey.php?loc=30&loctype=1

As you can see, only the highest paying job can last a person a month if they want to live a middle class life, if they got a family, that is a different story. This is only general data, no city within Brazil are specified

We don't know what his actual living condition is, but let's assume that he is renting a 1 room apartment in the city center(R$1174), basic costs(R$206), and internet(R$73), I picked these three because this is what he need to actually manage the site, in a year, he would have to spent
R$17412 just for these three basic things alone, this is only an assumption, because he might have other expenses.

Your personal definition of "scam" is different than most of people, most people think a site is a scam because it is a ponzi, like one of those "double your bitcoin in 100 hours" site, which will close down and take all your coins after half a month. This site is simply not that kind of scam because as far as I know, it had been around for more than a year, and the guy can simply shut the site down at ANY given time right now since he has a shitload of BTC. You can know this by looking at the blockchain info for his wallet. You simply think this site is a scam because you analyzed scrypt coins and you think the ROI and returns are not what you calculated, nothing else, btw I don't know if you already knew that wallet, if not, you are welcome.

As long as the site is up and running and paying out, it is NOT a scam!! However, I do keep checking the site ever so often because I do fear everything I said above could happen, but I don't have much real money invested in it, $2 as I said before, so I'm not too worried.

[DaddyMonsi]

chatbox is down 
but rewards are still flowing 
i hope cashout has no problem 

[galdur]

Back to normal and the trollbox is back. The price is good, just under 1000. Shit seems weak though at the moment and BTC is in the crapper as usual. So, this reward may not be sustainable. We´ll see.

[masterfu678]

Back to normal and the trollbox is back. The price is good, just under 1000. Shit seems weak though at the moment and BTC is in the crapper as usual. So, this reward may not be sustainable. We´ll see.

I wish Bitcoin could rise back up to $300 already!

[Gultahin]

Now with trollbox up and going once more we should expect whales to start making their moves, but as it's night time on the biggest markets (low users on chat) and that not everybody knows it's back and up they should start their moves only in a few more hours (i expect 10h) we should se spikes and deeps then.. Prices should float around 1100-950 this next day.

[ilic]

@masterful:

You have to realize I'm using block times, block rewards, and current market prices.  This is the most basic information available for any coin.  I know some people might not know where to find comprehensive info like this on a large number of coins, and I'm happy to show them as I did in my last post.

But it's the same thing as if I did an analysis of Bitcoin and used:

Block reward: 25 btc
Block time: 10 minutes
Nethash: current info from blockchain.info

I mean, this is just what everybody knows about Bitcoin.  It's no secret.  It's the same with scrypt coins.  The information is readily available and verifiable.   Anybody has access to it.  All I'm basically doing is multiplying the numbers and showing the implications for scrypt.cc.  

The thing is, with the disagreements to my posts, nobody has put forward a data-based, verifiable counter argument.  Why don't you provide one?

All right, you want me to provide a data based, verifiable counter argument?

Take a look at this blockchain
https://blockchain.info/address/1HWqsgnSd12Gv8SpoUMi1Cj8hp79BTSpW7

This is the wallet of the site owner, as you can see, it has about 983 BTC in it(at the time of this post being written), with a total of 30689 BTC received. I got this address in the chat back in May 11 when scrypt.cc had the data center problem where all of their mining power were shut off and they had to move to a new DC, people somehow found it.

With this amount of BTC, all the owner need to do right now is shut down the site and take all the Bitcoin away, because 983 BTC is around R$697,916(he lives in Brazil) right now, depending on how high BTC to Brazilian Real rises. That is a lot of money by Brazilian standards, the guy could shut the site down and buy a house and/or nice car with that amount of money, but he never did it, the site had been around for more than a year and it is still up and kicking.

This is the cost of living in Brazil, recently updated data:
http://www.numbeo.com/cost-of-living/country_result.jsp?country=Brazil

And this is the average salary of people in Brazil earns:
http://www.salaryexplorer.com/salary-survey.php?loc=30&loctype=1

As you can see, only the highest paying job can last a person a month if they want to live a middle class life, if they got a family, that is a different story. This is only general data, no city within Brazil are specified

We don't know what his actual living condition is, but let's assume that he is renting a 1 room apartment in the city center(R$1174), basic costs(R$206), and internet(R$73), I picked these three because this is what he need to actually manage the site, in a year, he would have to spent
R$17412 just for these three basic things alone, this is only an assumption, because he might have other expenses.

Your personal definition of "scam" is different than most of people, most people think a site is a scam because it is a ponzi, like one of those "double your bitcoin in 100 hours" site, which will close down and take all your coins after half a month. This site is simply not that kind of scam because as far as I know, it had been around for more than a year, and the guy can simply shut the site down at ANY given time right now since he has a shitload of BTC. You can know this by looking at the blockchain info for his wallet. You simply think this site is a scam because you analyzed scrypt coins and you think the ROI and returns are not what you calculated, nothing else, btw I don't know if you already knew that wallet, if not, you are welcome.

As long as the site is up and running and paying out, it is NOT a scam!! However, I do keep checking the site ever so often because I do fear everything I said above could happen, but I don't have much real money invested in it, $2 as I said before, so I'm not too worried.

Thanks for the info, as you are aware already I have been with scrypt.cc for over a year and do not believe in any way it's a ponzi however several people are in complete disagreement with us.

So, at any stage over the last 6-12 months, the site owners could shut down scrypt.cc and walk away with around 1000BTC yet the still keep operating?  Hmmm, that def screams ponzi to me (/end sarcacsm).  Maybe they're just greedy and want 2000BTC so they'll keep the site running another year.....lol.

In any case, I'm happy withdrawing daily and spending my well earnt bitcoins!!

[cryptodevil]

This is the wallet of the site owner, as you can see, it has about 983 BTC in it(at the time of this post being written), with a total of 30689 BTC received. I got this address in the chat back in May 11 when scrypt.cc had the data center problem where all of their mining power were shut off and they had to move to a new DC, people somehow found it.

With this amount of BTC, all the owner need to do right now is shut down the site and take all the Bitcoin away, because 983 BTC is around R$697,916(he lives in Brazil) right now, depending on how high BTC to Brazilian Real rises. That is a lot of money by Brazilian standards, the guy could shut the site down and buy a house and/or nice car with that amount of money, but he never did it, the site had been around for more than a year and it is still up and kicking.

This is the cost of living in Brazil, recently updated data:
http://www.numbeo.com/cost-of-living/country_result.jsp?country=Brazil

And this is the average salary of people in Brazil earns:
http://www.salaryexplorer.com/salary-survey.php?loc=30&loctype=1

As you can see, only the highest paying job can last a person a month if they want to live a middle class life, if they got a family, that is a different story. This is only general data, no city within Brazil are specified

We don't know what his actual living condition is, but let's assume that he is renting a 1 room apartment in the city center(R$1174), basic costs(R$206), and internet(R$73), I picked these three because this is what he need to actually manage the site, in a year, he would have to spent
R$17412 just for these three basic things alone, this is only an assumption, because he might have other expenses.

*raises hand*

How do we *know* the site owner lives in Brazil?

I 'assume' it is because you 'assume' it to be true, just like you 'assume' evidence of the scam not ending yet is evidence of it not being a scam.

Do you even logic, brah?

[anthony27boo]

We all have to make our own decisions with the information we have available and if knowing that this guy has $600,000 worth of bitcoins makes you feel comfortable, I don't think anything can dissuade you.

Personally, I think $600,000 is a ridiculously small amount of money for running a scam for over a year.  I have been reading a lot about Ponzi schemes that the SCC investigates and people don't stop at a million or even 10 million.  Some scans run in excess of 20 years and bring in 100 million+ before they are shut down. 

I really don't think it's wise to say, "ok, let's suppose this guy is a scammer.  I know how much he would be happy with."  It's kind of foolish for someone to assume they can determine the limits of someone else's greed.  By that logic, Bernie Madoff would have stopped at, well, a small amount like 10 billion.  We all know he didn't.

I think it's safe to assume that a scam will run until it's no longer profitable.  Scrypt.cc has a legion of extremely dedicated followers that dominate the debate on the various forums and give newcomers a false impression that scrypt.cc is "the best option" for cloud mining.  The owner of scrypt.cc is a classic con man.  He has built his entire operation through the force of his personality and by interacting directly with his investors.  I believe that con men like him get a lot of pleasure out of being respected by so many.  I expect Scrypt.cc to be around for a while. 

The interesting thing about all this is that I gave you and everyone else the tools necessary to do your own analysis and construct a hypothetical portfolio that would justify scrypt.cc's mining performance and I was pretty much completely ignored.  I guess I'm not totally surprised but I thought someone might give it a go.

One last note, I'm not anti-cloud mining and think everything is a scam.  If you viewed the leaderboard over the last few months, you may have seen me under the handle "Anthony."  I was number 6 before I cashed out.  When dealing with tens of thousands of dollars you are forced to be a little more critical. 

I usually don't mention this cuz people just say I'm full of shit (except those that actually saw it happen in the chat) but back when Admin used to say anyone can go visit the farm, I set up a visit and hired a freelancer in Brazil on a site called elance to conduct the visit.  Admin never made contact with the guy, he didn't answer my tickets asking what had happened, and the next time I went in chat, it was disabled and although for a short time, I could create a new account and access the chat, now every account is disabled and I haven't been able to talk to him.  So take that for what it's worth.

[hardshot]

Personally, I think $600,000 is a ridiculously small amount of money for running a scam for over a year.

WHAT?? lol

[anthony27boo]

I mean, to be happy with that and get out.  I would expect a scammer to want to make a lot more.

[cryptodevil]

Your point is perfectly reasonable without needing to reduce it to arbitrary 'guesstimates' as to what might equate to 'enough' for a scammer. As you said, Bernie Madhoff never stopped even when he was in the billions so the idea that a scam isn't a scam because the perpetrators could have run off by now simply isn't reasonable.

As I've also pointed out, there's no evidence whatsoever that 'Admin' is even in Brazil and every reason to suspect that it is actually a group of Ukrainians running a number of ponzi schemes, from short-term take-the-money-and-run, to longer term hey-we're-still-here-so-you-know-totallynotscamlikethatotheronewhichstoleyourmoneyafterbeingopenforacoupleofmonths, to even promoting their own Ukraine-based totally-independent-third-party-review-site which is clearly part of the same criminal gang who mix in some ASIC-manufacturer-owned cloud mining services in with their ponzi 'cloud mining' sites in order to pretend they aren't what they clearly are.

SpanishSoldier, GermanGiant and RussianRainbow - The Ukrainians couldn't help themselves but give the Russian username a 'gay' reference.

[anthony27boo]

You know, something kinda interesting: I posted some critical comments about scrypt.cc on a few review sites.  They weren't just random, "this is a scam."  It was more of the same stuff about how to analyze a particular coin's profitability and all that.  With references and links.  They never made it out of moderation.  I tried again, same thing.  I couldn't believe it.  They may have no association with scrypt.cc.  Most review sites are just there to generate referrals so maybe they just didn't want anything toob negative.  But either way, I was like, I'm actually being censored.  It was really eye-opening.