New and tough competitor for Genesis mining and HashFlare

[Tsar Bomba]

Dominant Finance CEO shows the company's mining farm and wide range of mining hardwares.
Do you think this company will be on top in terms of mining service and mining hardware production?
https://www.youtube.com/watch?v=TvDUoNBaAcQ

[1714864424]

1714864424

[1Referee]

It's shit. It's the next scam in line.

There are various 'investment' plans you can choose from, and they offer you on average a 10% monthly return up to 20% if you go for their most expensive plan.

It's quite funny to see how they don't even try to make their scam look less obvious, but on the other hand, noobs probably don't care and will invest anyway.

These scams have in common that they will vanish before their first year, and I'm pretty sure Dominant Finance will be one of them.

[shield132]

It's shit. It's the next scam in line.

There are various 'investment' plans you can choose from, and they offer you on average a 10% monthly return up to 20% if you go for their most expensive plan.

It's quite funny to see how they don't even try to make their scam look less obvious, but on the other hand, noobs probably don't care and will invest anyway.

These scams have in common that they will vanish before their first year, and I'm pretty sure Dominant Finance will be one of them.

Wish of easy money is what sucks, everyone wants to lay in their armchair or sofa and see how their wallet fills automatically. OP if you know, genesis mining has same (if not better) video where they show you how they mine coins, their CEO even had some meetings but overally, they are scammers, legit scammers, they offer lifetime contract but decline it very soon, which results in no profit and lost of investment.

[leowonderful]

Besides all that, this is a video of a recorded video (see bottom left for the first three seconds). The quality is horrible, and even if an operation shows proof of their hardware existing, there's no telling if they'll run off with your money or not, and that's extremely likely with cloudmining. I hope people don't continue to fall for these scams, but there are always people that don't browse here that don't understand these cloudmining companies are scams.

Also, a camera pointed at a monitor of livechat? Pretty shit innovation if you ask me, nobody's done it because it's not a good idea.

[mk4]

Oh look. Another "cloud mining" site that guarantees daily profitability. Yep, just like any other cloud mining site. The only thing that this site has that others doesn't is the live chat screen, which sure makes it does look like that they do have the hardware. Still shady af though.

"join our team of lions and lets dominate the world together".  Yikes.

[Slow death]

I saw this https://dominant-finance.com/investment/packages on their site, So I used their calculator:

let's suppose that someone invests 0.1 btc on their site



0.37% x 400 days = 147%

And at this same time another person takes 0.1 btc and invests in ETH.

Ethereum = 0,056 btc

and that person hold ETH for 400 days, which of the people will have more profits? I think we do not need to think too hard to know that the person who invests in ETH has many chances of having a 2x or 3x profit in 400 days. So why the hell would people invest in cloud mining?

[AdolfinWolf]

and that person hold ETH for 400 days, which of the people will have more profits? I think we do not need to think too hard to know that the person who invests in ETH has many chances of having a 2x or 3x profit in 400 days. So why the hell would people invest in cloud mining?

The argument here obviously would be that you don't know if Ethereum will go up x2, x3 ( that would cost ~100 billion, so i personally also doubt that that will happen). versus mining, where you supposedly always have "income".

But the same goes for mining, difficulty will increase, and so the earnings over time will decrease. This calculator is worthless and really the only thing that it proves is that they are a ponzi scheme.

[carlfebz2]

and that person hold ETH for 400 days, which of the people will have more profits? I think we do not need to think too hard to know that the person who invests in ETH has many chances of having a 2x or 3x profit in 400 days. So why the hell would people invest in cloud mining?

Just a simple logic and common sense we would able to find out on ourselves that putting up our money into these investments would just only be a dumb decision yet inside of those 400 days period we might able to earn so much than on putting those amounts into their platform. I dont even see a reason on what would a new cloud mining site would offer which would be better on existing cloud mining companies.
Its much wiser to hold our coins than to invest and it would be more worthy and you wont regret no matter how the price moves.

[eternalgloom]

If you're convinced after seeing a video like that, I think you're going to get scammed a lot in life.
I watched the first 3 minutes and this does not seem like a service that comes across as particularly trustworthy.

Now, I have to admit that I'm always very skeptical of any cloud mining operation, but there are companies that at least present themselves way better than this.

[magneto]

I couldn't find anything that directly points to them as a scam on their site. However, the general feel of the site definitely makes it seem like a ponzi scheme of some sort (including what I call "fractional reserve mining"), if not an outright scam.

The site is relatively new, and has nowhere the trust of Genesis Mining.

Besides, even if they were legit, the historical returns produced by cloud mining investments are laughable. I would myself, never put any sum of money into any cloud mining service, as if they were actually mining, the returns would be minuscule if not negative.

IIRC it's really easy to obtain company registration certificates for UK and Belize, so even though they do have them, it doesn't say anything. It's too much risk for the investor for too little reward, imo. That's the bottom line.

[Rahar02]

I saw this https://dominant-finance.com/investment/packages on their site, So I used their calculator:

let's suppose that someone invests 0.1 btc on their site

https://i.imgur.com/exB5baA.png

0.37% x 400 days = 147%

And at this same time another person takes 0.1 btc and invests in ETH.

Ethereum = 0,056 btc

and that person hold ETH for 400 days, which of the people will have more profits? I think we do not need to think too hard to know that the person who invests in ETH has many chances of having a 2x or 3x profit in 400 days. So why the hell would people invest in cloud mining?

That's a common income for BTC0.1 initial investment on cloud mining, at least their calculation not exaggerated but there are two things that will reduce customers income.
1. Fees, there are many invisible fees and many reasons to charge, happens most of the time.
2. The difficulty, btc income will reduce over time obviously, and people won't receive 147% in 400 days.
    hence they need people to give them money in order to keep their business running as Ponzi scheme will works.
Yes, it's a dead end for cloud mining investment, don't even think to get profit through this one.

[Lanatsa]

If you're convinced after seeing a video like that, I think you're going to get scammed a lot in life.
I watched the first 3 minutes and this does not seem like a service that comes across as particularly trustworthy.

Now, I have to admit that I'm always very skeptical of any cloud mining operation, but there are companies that at least present themselves way better than this.

Its 2 minutes actually and I'm not even convinced showing of some rigs and a flatscreen TV and claiming that people can have a live chat into their site and a camera that can give out a 90 degree image on the rig site.
This isn't really a transparency yet these companies can really give out hidden charges soon which as an investor you wont able to do something but to accept.

[BitHodler]

It's too much risk for the investor for too little reward, imo. That's the bottom line.

I wouldn't call +100% returns a little reward. It's below the rewards the most common ponzi schemes offer, but it's done on purposely like that to make it seem like they are somewhat different.

They obviously can't advertise with lower (realistic) rewards because people wouldn't fall for it, so they somehow have to grant people a sunny outlook after the 400 day period. I'm quite sure that noobs will still fall for it.

Noobs are easily tricked into thinking that the next platform they invest in is different from all previous ones, but that's a poisonous (losing) attitude in this industry. They are the reason these scams still exist.

Noob demand = scam supply.

[milewilda]

It's too much risk for the investor for too little reward, imo. That's the bottom line.

I wouldn't call +100% returns a little reward. It's below the rewards the most common ponzi schemes offer, but it's done on purposely like that to make it seem like they are somewhat different.

They obviously can't advertise with lower (realistic) rewards because people wouldn't fall for it, so they somehow have to grant people a sunny outlook after the 400 day period. I'm quite sure that noobs will still fall for it.

Noobs are easily tricked into thinking that the next platform they invest in is different from all previous ones, but that's a poisonous (losing) attitude in this industry. They are the reason these scams still exist.

Noob demand = scam supply.

They will surely go in between realistic and very high returns. Scammers will think off carefully on new ways on how they would able to deceive people by means of using another visuals of offers.
Even up to these days scam sites do exist because its being continued to be funded by those people who do easily believe on fast profits and as said if theres a demand then supply would add up.
The cycle continues as long we are here on a thing that can make us money either to be done legal or illegal.

[reflector]

Could mining is shit so now we can see another shit on our back. We do not need to worry and give priority to these kind of cloud mining site to waste your money.
If you have concern about your money means ignore all the cloud platform investment and try to make the money out of good options such as regular mining, crypto related services, trading, lending and etc.

Ponzi schemes means first you would get the cloud mining to everyone eyes mate.

[timerland]

There are some pretty shady promises put out.

An insurance fund of $1 million that apparently is able to be afforded by a newly started up company, with some guarantees of high profits, as well as a structure which involves various investment plans that are HYIP like.

There are no solid proof that they are actually mining. Even if they have this twitch livestream that would allegedly prove that they are actually mining, it is only showing a few racks of miners - definitely not a guarantee that they are backing every contract that people buy with actual miners. They could have well bought just a few miners to make it seem legit.

There's just nothing legit about the site. There is way too much risk, and it's very unlikely they'll turn a profit in the long run even if they are actually mining. Otherwise, they'd keep this investment opportunity private.

[Golftech]

I don't think this is a good idea placing your money from this investment platform, though there's existing cloud mining which taking some time holding your money and bring it back with interest, we should learn more about how to manage our money there's a lots of venue and opportunities instead of letting other people to use it and make good earnings from our investment.

[pinkflower]

This is just another miner who wants to hedge their risk on the buyers of their contracts or on the investors of the mining farm. This will not end very good for them.

My advice, buy BTC. Its cheaper and less risky.