[Innovamine.io] CloudMining - Legit & Paying [SCAM!!!]

[ChrisCross86]

Today innovamine published details of the planned debit card. If this would come true, the opportunities will be amazin.

If you plan to invest, use to coupon:

GETSEVENTOP

to receive additional hash power.

Text from their mail today:

More on www.InnovaMine.io the Debit Cards

Following our announcement of the all-new InnovaMine Debit Cards that is set to launch at the end of July, here are a few tidbits we consider useful for the use of the card.

The Debit Card allows you to get your cash fast and conveniently. The InnovaMine MasterCard supports withdrawal from any ATM in the world and is also great for making payments for purchases online and at stores whenever you want.

Fees, Payments and Limits
 

    To another Innovamine Debit Card Holder - There are no charges for this transfer and you can move from a minimum of $1.
    From another Innovamine Card Holder - There are no fees for this feature. The minimum amount to be received is $1.
    From other bank card to InnovaMine Card - 2.6% is the charge for money received. Minimum transfer amount is set at $10 and maximum is set at $1500.

 
Maintenance Fees - Service for an account inactive for more than 12 months is $3 per month
 
InnovaMine Card Fees
 

    To Order a card costs $5.95. Card servicing is free, however to have another card reissued is set at $6.95
    Standard Delivery costs $15, but Express Delivery for ordered card would cost $45
    It is free to Top up card from innovaMine account and to Fund transfer from card to InnovaMine account
    $1 is charged for every Pin Code Change.

 
Cash withdrawal fees
 

    ATM and manual cash withdrawal is $2.60
    POS-transactions are Charge Free.
    Card account which has been inactive for more than 6 months attracts a monthly charge of $10 from InnovaMine account.
    No charges for Chargebacks/disputes
    Card account closure is free

 
Cash Withdrawal limits
 

    The maximum amount per operation is $5 000
    Daily limit is set to $5 000 for each card

 
POS-transactions
 

    Daily limit is set at $20 000 set to 200 operations.
    Limit for 4 days is $60 000 set to 500 operations.

 
Add Funds to Card from InnovaMine Balance
 

    The minimum amount per transaction is $10
    The maximum amount per operation is $10 000
    Daily limit is $10 000
    5 operations are the maximum per day.
    Limit for 4 days is set to $40 000
    Maximum amount on a card is $75 000

 
Countries accepted - Countries will be announced more closer to the end of July when we start accepting orders. All Europe and Asia will be included, detailed information soon to come.
 
Got any questions? Feel free to hit us up on our official Telegram page, or send us a mail now to admin@innovamine.io

You’re with the best team!
From your family at Innovamine
Happy Mining and Profitable Trading

[ChrisCross86]

Against all odds and negative comments, the page is still online and paying.

They even announed a debit card and visits to their mining facility. Great!

If someone wants to invest, here i a code to receive 7% additinal hash power:

GETSEVENTOP

You can enter during purchase.

[datester35]

I can confirm that this website is still paying, as here is a withdrawal that was processed instantly
https://www.blockchain.com/btc/tx/a1e3ca96a49710401d3c25391d17ebcf9fc1df40b1b9db967a6e42d91094c107

I have also programmed a calculator in Python that can be used to calculate the amount earned (assuming reinvestment), you can use it in an online python compiler (such as repl.it) if you don't have python installed

Code:

import requests

instances = []
balance = 0
total_earned = 0
days = 0
#simulation length in days
simulation_length = 120
starting_investment = 0.00759814268;
#Hashrate in terahashes
totalhashrate = 0
#So apparently the cloud mining is more profitable then predicted
calcrate = 1.307

bitcoin_api_url = 'https://api.coinmarketcap.com/v1/ticker/bitcoin/'
response = requests.get(bitcoin_api_url)
response_json = response.json()
btcprice = response_json[0]['price_usd']


calculator_api_url = "https://alloscomp.com/bitcoin/calculator/json?hashrate=1000000000000"
calcresponse = requests.get(calculator_api_url)
calcresponse_json = calcresponse.json()
th_coins_per_day=24*calcresponse_json['coins_per_hour']*calcrate
print ("The current btc per Terahash per day is "+'{0:.12f}'.format(th_coins_per_day)+" or "+'{0:.8f}'.format(float(th_coins_per_day)*(float(btcprice)))+" USD")
print ("The current price of bitcoin is " + str(btcprice))



class MiningInstance:
  def __init__(self, costbtc):
    global InstanceList
    global btcprice
    self.cost = float(costbtc)
    self.hashrate = (float(self.cost)*float(btcprice))/15.38
    instances.append(self)

print ("Your starting investment is "+str(starting_investment)+" btc or "+str(float(starting_investment)*float(btcprice))+" USD")

y = MiningInstance(starting_investment)

for i in range (1,simulation_length+1):
  totalhashrate = 0
  for x in instances:
    totalhashrate+=x.hashrate
  daily_earnings = totalhashrate*th_coins_per_day
  balance+=daily_earnings
  total_earned+=daily_earnings
  print ("Day:"+str(i)+" Balance is "+'{0:.8f}'.format(balance)+" You have "+str(len(instances))+" Mining instances producing "+'{0:.8f}'.format(daily_earnings)+" btc or "+'{0:.4f}'.format(float(daily_earnings)*float(btcprice))+"$ per day \nYour total earned is "+'{0:.8f}'.format(total_earned)+" btc")
  if (float(balance)*float(btcprice))>=20:
    j = MiningInstance(balance)
    balance = 0

Please also consider using my coupon for 6% off SIXFREEEXTRA if you found this calculator helpful. I would greatly appreciate it.

[Cryptogainsairdrop]

I can only show people sharing their coupons there... I do also use innovamine but i am far more sceptical.

I have made 3 withdrawals and get my investment back in about a month. So until now i have nothing to say about that, it works (until now).

BUT and there are 2 major issues i see:
- WHO are they?! Found absolutely nothing about the owners / team. But i can confirm the company is registered in Australia.
- WHERE is the farm? Didn't find the address.

Those are 2 necessary informations that need to be provided. Until i don't get those, i will consider this as potential scam (and ponzi scheme) since we cannot confirm the infrastructure is truely running... Plus, there are getting a debit card, news are there to make you invest.

Using this with extreme caution.

[datester35]

Yeah, I can confirm that they are somewhat sketchy. Also, with my calculator it seems like it becomes unsustainable for them between 9-12 months (depending on how many people reinvest). I was a member of gaw miners and zen miner when they first had that, and this is a little reminiscent of that. However, it does say that you can schedule a meeting, although it looks like the first available date is in August. I would like to point out that due to the amazing rewards right now, there is either a possibility of them being a ponzi scheme, or simply that they will have to increase the prices of their mining contracts (I think other companies have done this before).

[ChrisCross86]

Yeah, I can confirm that they are somewhat sketchy. Also, with my calculator it seems like it becomes unsustainable for them between 9-12 months (depending on how many people reinvest). I was a member of gaw miners and zen miner when they first had that, and this is a little reminiscent of that. However, it does say that you can schedule a meeting, although it looks like the first available date is in August. I would like to point out that due to the amazing rewards right now, there is either a possibility of them being a ponzi scheme, or simply that they will have to increase the prices of their mining contracts (I think other companies have done this before).

Hard to guess, if it is a sustainable. The profits are insane when you calculate with reinvestments.

Your calculator shows it in an easy way.

I continue shilling my coupons. The reason is that both profit from it.

Use GETSEVENTOP to get 6% additional hash power on each purchase.

[RichOffCrypto2020]

I made my investment back already and I've figured out how to get the best bonus %... If you want the maximum hash bonus available, use the coupon code ULTRAHASH whenever you deposit and you will get the max bonus hash

[ChrisCross86]

I made my investment back already and I've figured out how to get the best bonus %... If you want the maximum hash bonus available, use the coupon code ULTRAHASH whenever you deposit and you will get the max bonus hash

I can confirm. My investment is also back and secure in my walltest. I mine BTC, BCH and ZEC.

Today I've added additional hash power to BTC. Let's see if this was a wise move.

You can use my coupon

GETSEVENTOP

this will give you extra hash power on top of each purchase.

[fliperek]

hello

today i can't make a withdraw, are innovamine still paying? in my opinion today stop paying, and also disable chat.

please give me replay how it looks like in your profile.

[ChrisCross86]

Site seems to be offline and they deleted the telegram channel, cash outs are not possible anymore.

I guess they exit scammed. Hard lesson learned in crypto world. If something seems to good to be true.....

[datester35]

I think they pulled through the exit scam, but considering they are registered in Australia is there anything anyone can do to get them to legally pay reparations?

Edit as of 06:55: Website appears to be back online, but it says to contact support to confirm withdrawal. I have never had this happen before. Do not invest.

[Cryptogainsairdrop]

Yeah with their coupon +25% and now +50%... as i said high probability to be a ponzi.

[jtmanager]

Yeah with their coupon +25% and now +50%... as i said high probability to be a ponzi.

The withdrawal options is no longer available.
I don't think they are Australian they seem more like Ukrainian or indians

Support is no longer functional
Ive just lost 3000usd

[garylower]

I actually thought this may be legitimate - the payouts weren't as obviously over inflated as other sites I have seen.  Been withdrawing profits daily - got back about half of what I put in.  Are there ANY legitimate sites out there ? 

[bordapapa]

I think this is quite straightforward.
It was a nicely executed ponzi scheme, as per this post, they moved all the ETH from their coffers and the site is unreachable.

https://www.reddit.com/r/InnovaMine/comments/cdxgg9/ether_on_the_move_today_now_an_exit_scam/

[DJsC]

At the very least, someone should probably report innovatrade on the Australian securities commission. I will likely do it but I’m no expert.

This is unfortunately the price of high risk high reward type investments. Sorry to see a few people losing large sums - it was looking promising for a while as more and more people were receiving daily withdrawals close to ROI.

[bordapapa]

At the very least, someone should probably report innovatrade on the Australian securities commission. I will likely do it but I’m no expert.

This is unfortunately the price of high risk high reward type investments. Sorry to see a few people losing large sums - it was looking promising for a while as more and more people were receiving daily withdrawals close to ROI.

For reporting, this should help, maybe something will come out of it...
The below post has all the URLs and information that is needed to report a scam to the Aussie authorities.

https://www.reddit.com/r/InnovaMine/comments/cdm1kt/reporting_innovamine_scam/

[kainhnl]

Hello,

How to find the guy's house, maybe faked.
Check out the innovatrade PTY registration docs here: https://drive.google.com/open?id=1kxZ8vWGNJWDGnzwCSHigQLNBJq0xSLnP

I managed to pull out more than I put in before it fizzled this week when I saw the 50% coupon they issued. Knew it was a final move to get as many people to deposit as possible before they pull the plug.

[Nesonica]

Avoid those scammers.. they shut down after they took all the money of their customers offering super high "re-invest" contracts for just a few weeks so you could never reach your ROI. Then they cleaned the withdrawal function, deleted their 4000+ Telegram group, their Facebook account and there is no way to contact them. They contact you to invest another 0.5 BTC to re-activate your account which is a scam too. All that scam with the poor excuse of "we have been hacked".