Bitmain promoting BitDeer is it scam or not?

[jackg]

The coins are stuck because they are below the minimum threshold.

I need 0.001 extra, I'll have a see if any miners will take it on for a small amount. I might message sidehackand ask if he can do it. I was going to use an exchange like mrr (mining rig rentals) but I can't work out how it works.

[TCW003]

Yes this is the hope.



As an update, I've earnt about 0.03 from my contract with them so far.

You can't withdraw less than 0.01 afaik unless they batch the last one or something so maybe that's a new scammy idea of theirs. We'll make sure they keep 0.008 each contract they buy so they have to buy 5 more to get everything out...

7 days passed, how much have you earned? good result?

I bought it just after the announcements.
I came to the end of a 30 day contract.

They create a pool account specifically, in hindsight, go with btc.com as the pool.

I got an average earning of about 0.0015btc/day in revenue. Having paid 0.038 about for a contract, after the 30 days it came to 0.0399 in revenue. I made a 0.008 loss because antpool only allow withdrawals per 0.01 btc. I'm going to try to use my workaround to getting the rest out but I'll see how it goes.

well it seems profitable except the min withdrawal problem. Did you check with their support how to resolve this kind of case? Because I think it should be a common case and they should have a solution there.

[jackg]

check the hashnest discussion and support thread...

They didn't seem too interested. I'll just have to switch to btc.com when my next payout comes...

"
Live chat said it takes 5-7 working days. Let's hope it's not like hashnests working days...

[TCW003]

I just gave them a suggestion to get their own wallet, then we can leave our balance in the wallet like hashnest.

[jackg]

I just gave them a suggestion to get their own wallet, then we can leave our balance in the wallet like hashnest.

I already got the money back its all good. I Dont like the wallet idea.

[Steamtyme]

Hi jackg,

Sorry if I wasn't clear.

I got an average earning of about 0.0015btc/day in revenue.

I guess I'm wondering if they removed your daily operating cost from this revenue, or if you had the option to pay for daily operating fee another way.

Having paid 0.038 about for a contract, after the 30 days it came to 0.0399 in revenue.

Looking at this .038 was the upfront for the contract - take that from revenue of .0399 leaves = .0019 BTC profit or does this not include the daily fee is that how you got to the number .008 BTC that was unable to be withdrawn?

I was just trying to clear up whether or not over the 30 days you had withdrawn any BTC?

If not did it work out daily that they showed Approximately you earned .0015 BTC but paid .001425 (just a guess figure) BTC daily fee, leaving you with a .00075 profit for the day?

[jackg]

Accurate figures:
30 day miner rental + 30 day maintenance fees: 0.03898437
30 day revenue: 0.03993997

Profit is about 0.00095. Its alright I guess...

[TCW003]

Accurate figures:
30 day miner rental + 30 day maintenance fees: 0.03898437
30 day revenue: 0.03993997

Profit is about 0.00095. Its alright I guess...

so that is 2.4% profit ratio

[jackg]

Accurate figures:
30 day miner rental + 30 day maintenance fees: 0.03898437
30 day revenue: 0.03993997

Profit is about 0.00095. Its alright I guess...

so that is 2.4% profit ratio

Yeah so it's quite good 25% APR.

[mercedes321]

its just not worth it, its better buying probably any alt and hold it, this is how it sucks miningg at bitdeer.

[BitMaxz]

its just not worth it, its better buying probably any alt and hold it, this is how it sucks miningg at bitdeer.

You will never rich fast in cloud mining we are just testing it about their offer (they have a cheap plan last month) since Bitdeer is promoted by Bitmain I feel it's worth it to try.
Since it's paying I consider it as legit but I don't recommend to stay longer on this cloud mining.

Buying altcoin can be a good idea than this but the problem it's hard to know which altcoin can give you a big profit in the future. Let's see for both Beam and Grin coin which is trending nowadays.

[TCW003]

its just not worth it, its better buying probably any alt and hold it, this is how it sucks miningg at bitdeer.

You will never rich fast in cloud mining we are just testing it about their offer (they have a cheap plan last month) since Bitdeer is promoted by Bitmain I feel it's worth it to try.
Since it's paying I consider it as legit but I don't recommend to stay longer on this cloud mining.

Buying altcoin can be a good idea than this but the problem it's hard to know which altcoin can give you a big profit in the future. Let's see for both Beam and Grin coin which is trending nowadays.

Buying altcoins can rich fast?

[jackg]

If you get the right altcoin then yes...

Cloud mining is good while finding that altcoin though.

[squatz1]

Was just chatting about this whole thing with JackG, and while this doesn't look like a scam as they are paying out -- the returns that their providing do show how badly Bitmain needs cash to prop themselves up.

There's no reason for Bitmain to give out returns of 24 percent per year, as they could (if they were a company without financial issues) obtain a commercial loan for something that is much less than that. I'd say this is a combination of bitmain wanting/needing cash, and them wanting to build an alternate reputation in the cloud mining space. As we all do know that their current reputation in the mining space is not too good. (That's a nice way of putting it, I guess)

We'll see where this goes I guess, I just don't see a company like bitmain shutting this down and running off with money.

[jackg]

I think they're trying to get a hedge in case the currency goes downwards. I wouldn't be surprised if they've started selling their stake since the second fall in order to recoup profits or at least selling the stuff they're getting now to pay off debts.

[mercedes321]

i was at hashnest, and i still wait they start offering miners, i can wait whole life not a problem,...haha

[TCW003]

i was at hashnest, and i still wait they start offering miners, i can wait whole life not a problem,...haha

Such a loyal fan of hashnest! Are you pushing bitdeer to provide same service like hashnest?

[jackg]

i was at hashnest, and i still wait they start offering miners, i can wait whole life not a problem,...haha

Such a loyal fan of hashnest! Are you pushing bitdeer to provide same service like hashnest?

I'm guessing he wants hashnest back for the market manipulation...

As it went it was quite a dodgy system. Hashnest sold minders at a standard rate and then they'd get listed on the market for a lot higher. People would buy them because they had no better choice if the miners were no longer in the shop or they couldn't afford them...

[mercedes321]

yeah the gloorz days of hashnest, S15 for 1.5K buks, sold in 2H 1K units, then at their market its at 3K+, but i dont mind the S15, i want L4, i know they have it, i just know it,...just put it in the hashnest, and the ltc will skyrocket haha

[jackg]

yeah the gloorz days of hashnest, S15 for 1.5K buks, sold in 2H 1K units, then at their market its at 3K+, but i dont mind the S15, i want L4, i know they have it, i just know it,...just put it in the hashnest, and the ltc will skyrocket haha

It'll be good to get ltc on. It deer at least. I have quite a lot of ltc reserves to splash into their market...