Told you that you would be scammed
https://bitcointalk.org/index.php?topic=2168580.580quote :
october 25th 2017My point of view about hydromining farm. ( I'm mostly french, I'm sure you'll understand anyway even if there are some typos )
Just before I start, I want you to know that I took in the meantime the video of their gpu farm, their promotional video, their whitepaper, and of course their website.
To cut simple, I understand their passion toward cryptocurrencies mining as I'm doing it personally myself at home. I'm into cryptocurrencies since around 5 years, and from my point of view I see more greeds in their project, than an actual will to fill the need of their investors.
I'll elaborate in which why I don't recommend to invest any money in it, and why.
Before I start, I just want you to know that my main value is honesty, and it's after I noticed a lot of lie and a lot of lack of knowledge from them that I think I could bring more trust into cryptocurrencies in general, because there are already too many scams.
Right on, let's start !
1. Website :
https://www.hydrominer.org/ a) Current yearly ROI : 60%
My answer : Totally, WRONG. First, I'm personally mining, in Canada, with hydro-electricity, and GPUs as well. I have a rate of 0.072 USD per KWh. My Roi at the time is around 7 months. Basically, around 170-180% ROI. I don't even have a ''hydro company'' and already my numbers are higher. I can tell you in private with proof and number how I make it, with screenshots + selfies and everything you need.
''
Cost Effective
By placing our mining equipment directly in hydro power stations in the Alps region, we have access to up to 85% lower energy prices than European average.
.''
Basically, how can they offer a such low ROI and say that they have 85% of lower energy prices ? That's totally wrong, again.
b) Nothing much to say else about the website
2. Promotionnal video
a) Professional video, they drank their coffee and put on their best suits and makeups so that could help raise more funds. Usual marketing way to look bigger than we usually are.
b) Hydro energies are green yes. You have to use the water current to naturally change it into electricity. The fact that they are saying they have a power station is clearly exagerating what is clearly a power station. You may google our canadian hydro-quebec power station. I have even noticed that in their promotionnal video at a point there is not even current in their ''pond'' of water. So they basically can't rely on that energy 100% of the time.
c) Nice rigs though
3. Interview video
https://www.youtube.com/watch?v=Nc9cxWnp30o&t=776sa) At around 10 minute the interviewer ask the makeup frontpage girl in which environment the miners work ( ex : windows ) and she wasn't even able to say it and throw the answers to someone else.
For 2 girls that are into cryptocurrencies since years, and that can't answer a simple question like that, is clearly showing me that the girls are used here to help promote their scam, as the same way to raise more money, more than they actually have the proper background to maintain a higher level of responsibilities towards the people fund.
b) Basically, they have a nice spot, I'll be fair about that. Thing is, they only have a small river, and the investment will remain nature dependant. So, not only you can have 365 days a year of mining, but they can't even give a decent ROI. ( Check website section above )
c) Clearly, at least, they have a hydro station. That show a bit of trust, even if numbers about ROI aren't, when that is supposed to be profitable.
4. Whitepaper :
https://www.hydrominer.org/wp-content/uploads/HydroMiner.pdf The fun begin, I hope that you are ready
a) If you decide to participate in the Token Sale as a form of investment, Hydrominer expressly warns you that an investment in H20 carries a high degree of risk. For a description of the risks associated, see the chapter ''RISKS FACTORS'' in the token offer document.
Seriously ? Since when mining is a high risk factor ? Trading has risk, mining hasn't. You may have a slower ROI, but you won't have RISK IN CAPS to take while mining. They honestly imply that they won't be responsible for anything that could happen to your money, despite they tell you it's one of the best investment you could make.
b) They say they are using Green energy... Well, most of the electricity is made via water in case you didn't know. So basically, electricity is green, from their point of view.
c) They want to use the funds to rent more power station, to get lower price than usual, that will be reflected in their wallet, because you will still have a low ROI. Who is the winner ? Them. Who is the last ? Investors.
d) Even after raising ICO price, they will take a 10% out of all of your mining gain. So basically, 2 years contract, 60% per year ROI, 120% for 2 years. That is the ''prevision'' and since nothing is already made for customers ( Like a cloud program that you can basically control your funds ) that is basically speculation.
e) They are working with Raphael Beaumond: Advisor
Raphael is an energy consultant based in Brussels. He is currently developing the negawatt
-
token to improve energy efficiency. Previously, Raphael has worked in project finance for
renewables, operational manager in the humanitarian
sector and as a data analyst for Google.
Additionally, he is contributing to the BioPhys Economics think tank.
Basically, that guy is working with Giga watt, and just search about them here on Bitcoin talk, tell me if their customers are happy ? Hydro miners is doing the same thing as them, and most of the customers hasn't even their equipment installed after 2 months of purchase, yeah proof :
https://bitcointalk.org/index.php?topic=1914900.0;topicseen--------------------------
Ok there are way more lies that you can find with more analyses, but I'm starting to miss some air and I think I did my part here.
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To conclude : If you want to start mining, do it at home. Even if your electricity rate seem higher than some other pretends, it will still be more profitable if you do it by yourself, and as opposite of their first page drawing, if you want it at home, you want an external shed or an empty appartment room. ( It is noisy, it is heaty )
Hydro miner teams want the biggest part of the pie, and it's ok, guess all humans are greedy. I just think that before you invest in some people that will gain the most out of your investment, to basically do it yourself on a small scale. You'll understand with real numbers that mostly all they imply to raise fund are fakes and that you'll have to wait a lot of months before seeing your cryptocurrencies back in your wallet.
I personally saw a lot of other ''cloud mining companies'' that tried the exact, same thing and investors were getting ripped off while the people who raised the funds are taking advantage of it.
Invest if you want, but I'm mostly sure you'll get in another cloud mining scam fraud.
edit :
As a regular customer, I pay my first 0.072$ USD for my electricity. To be more precise, the first 1,947 KW/h cost me 0.045 $ / Kw/H then it's 0.072 $ for the rest of the electricity consumption.
If I upgrade my ''scale'' and buy a commercial buy of hydro electricity, I can even get these rate lower.
I'm honestly starting to open my own business and bring more securities into cryptocurrencies for worldwide investor instead of trying to rip people cash off. On the longrun, there are way more money to make by being legit and honest.
