Bitwings promises smartphone that can mine 2 ETH/month. Ponzi scheme?

[Rikafip]

As mentioned in the title, Bitwings is company that promises smartphone with the capability of mining up to 2 ETH per month. Anyone with the basic knowledge of crypto mining knows that this number is simply not possible to get with smartphone. They have other questionable promises, like guaranteeing value of 1 BWN=0,20 USD, no matter what.

Flag Type 1 https://bitcointalk.org/index.php?action=trust;flag=2034

ANN https://bitcointalk.org/index.php?topic=5133411.0
Archive https://archive.fo/LoOB5

Website https://bitwings.org/
Archive https://web.archive.org/web/20191021215311/https://bitwings.org/

This is their smartphone, also known as Minephone WX. It will cost you 6000 BWN, or between 900-1200 USD (depending in which ICO phase you bought tokens) When you look at the specs, it is nothing special, but thanks to the magical software, it will be capable of doing for what you usually need few mining rigs.



When you get your MinephoneWX, you will be able to chose among few different mining contracts, and for that you will have to pay additional activation fee in ETH ( or go for free option, which will bring you 0.2 ETH per month).



But that is not all. Bitwings already has working cloud mining that looks like a classic ponzi scheme, as they promise 10% monthly profit for the period of 3 years. Here are few of their packages (they have smaller and bigger ones than those in the picture).
https://bitwingsprofit.com/
https://archive.vn/cv0T7



One more red flag is hiring bumping service for their ANN thread in order to fake interest. Some accounts are already tagged, mostly those that were active at the beginning.


So, what are your thoughts, does their promises seem plausible and realistic or is this just another scam in making?

[TheBeardedBaby]

It looks to me that you will not be mining with the phone it self but the phone is used as a wallet and cold storage(?) from what I read in the screenshots. I haven't open the website coz I don't trust those kind of sites anyway.
Purchasing mining contract for me it means that you will be borrowing a hash power form their mining farm and the revenue can be up to 2 Eth.
Anyway it looks specious.

[dkbit98]

First things I noticed on their websites:
- ICO
- Bad english language (that is ok because they are located in Spain or South America)
- 100% guarantee emission value
- They guarantee BWN token price  $0.20
- Producing up to 2 Ethereum per month.

Not sure how they can guarantee anything.
It should be examined if they have real connection with wings mobile
https://wingsmobile.com/

I am not sure I can call this a ponzi, bust just a regular risky ICO project.
It is funny they have some concerts like this:  
https://youtu.be/7bzOtGxzjSM

[Rikafip]

It looks to me that you will not be mining with the phone it self but the phone is used as a wallet and cold storage(?) from what I read in the screenshots.

Thing is, that mining won't be possible without their special phone, with special software, built with "neural technology", whatever that is.

Purchasing mining contract for me it means that you will be borrowing a hash power form their mining farm and the revenue can be up to 2 Eth.

When you look at the profit, somehow I doubt that ETH will come from their mining farm. For example, let's say you buy "Enterprise" package, that will give you 2.02 ETH per month, for 36 months. That will cost you 13 ETH+ 6000 BWN for phone (approximately 5 ETH), making it total price of 18 ETH. After 36 month, you should have a bit over 72 ETH, and that is  300% profit. I am not an expert in mining, but that doesn't sound right.

I am not sure I can call this a ponzi, bust just a regular risky ICO project

I have issues with such a high return. From what I know about cloud mining, in most cases it is a pure ponzi scheme, especially if they promise something too good to be true. And 300% profit in 3 years sounds like that.

[hacker1001101001]

Looks like pure scam. Phones are not created for mining in any sense nowadays.

For me even this repeated numbers like "0.2 ETH" are scammy in its own way as many such cloud mining ponzies don't even consider changing the numbers. 

Btw, this thread should be in scam accusation with a flag.

[TalkStar]

After launching their ICO i made a short investigation about them. Last year during ICO sale i visited their team section and found one of their team members social media details. After that i tried to contact that person through facebook to confirm the relation between wings mobile and Bitwing. Sorry to say that he didn't make any reply from his end. From my investigation i didn't find anything on his profile which relates with Bitwings.

Take a look here;

Name: David Gonzalez (Affiliate Director at WINGS Mobile)
In "Bitwings" they are showing him as their "Network Sales Director".

"Bitwings" used another picture on their team section which i marked on the first picture. In website the name is "VIRGINIA ALBELDA" and they are showing her as their social media manager. In real life she is David Gonzalez's wife and the picture taken from her husband's facebook.

[Harlot]

Mining on a mobile phone? We all know that this could do more damage to the phone itself rather than profit from it anything? I've seen in the past both apple and android app stores removing apps related to mining as they stated that it could decrease your phone's battery life much faster because mining softwares in phones are designed to utilize the 100% processing phone at it can make your phone's temps to rise up even higher compared to graphically challenging mobile games. If this thing is true even if the phone is 900 bucks I don't think mining 2 ETH per month is even enough for your capital to return, the phone will be not operational before you get your investment back.

And check this out the phone is even part of the mobile world congress last 2019.

[stompix]

One more red flag is hiring bumping service for their ANN thread in order to fake interest. Some accounts are already tagged, mostly those that were active at the beginning.

It was weird that going though their topic I saw a +1 account clearly involved in bumping
https://bitcointalk.org/index.php?action=profile;u=288471
The plus +1 is because of Ecuamobi feedback from 2014, I have a feeling that is a bought or hacked account

As for their phone, is probably a clone of a clone, the best match being an umidigi z2 pro, a 300$ phone

Bitwings: Dimensions:153.4mmx74.4mmx8.3 mm. Weight: 165 gr. Screen Specifications: 6.2” (inches) IPS FHD+. Screen Resolution: 1.080 x 2.246 Pixels. Chipset: MediaTek Helio P60 – AI CPU. CPU specifications: Octa Core – 4x A73 2.0GHz + 4x A53 2.0GHz. RAM specifications: 6 GB. SAMSUNG 16 MP + 8 MP

Umidigi Size 74.4 mm • 153.4 mm • 8.3 mm Weight 165 g Diagonal 6.2" Resolution 1080 x 2246 px Model MediaTek Helio P60 CPU 4x 2.00GHz ARM Cortex A73 + 4x 2.00GHz ARM Cortex A53 RAM 6 GB 16 Mpx Sensor Samsung S5K2P7

Would it mine 2 eth per month? No way in hell.

Now, assuming they have the "software" capable of doing so, why would you sell that thing and not mine by themselves?
Escobar folding phone reloaded.

[Rikafip]

It was weird that going though their topic I saw a +1 account clearly involved in bumping
https://bitcointalk.org/index.php?action=profile;u=288471
The plus +1 is because of Ecuamobi feedback from 2014, I have a feeling that is a bought or hacked account

Yeah, cooltoadfrommoon is part of that bumping group. 3 other accounts that are doing the same thing in their ANN are tex173, prettiestgirl and NITER2018. They are active on Bitwings ANN for quite some time, and recently they started working on another, Coindragon, that is some kind of online casino. I doubt that it is an coincidence, same 4 accounts doing the same thing on 2 completely unrelated threads.

As for their phone, is probably a clone of a clone, the best match being an umidigi z2 pro, a 300$ phone

Yep, type of the phone that you can easily order in China and just put your name on it, as many other are doing. They have been promising to deliver that phone to people since mid 2019, and people are still waiting for those, while some of them paid for the phone in February/March 2019. Back then 1 BWN=0.1 USD, so price of the phone was 600 USD.

Now, assuming they have the "software" capable of doing so, why would you sell that thing and not mine by themselves?
Escobar folding phone reloaded.

Official explanation  would be cloud mining I guess, but they advertise it a phone itself would mine that ETH, even comparing it to the mining rig.


But even with cloud mining, profit they promise is way too high and I don't see how can that be sustainable, without them constantly loosing money. Renting 1000 MH/s for 3 years is very expensive, and yet they will charge those that buy the phone only fraction of the real price.

They guarantee BWN token price  $0.20

Another thing that sounds dodgy. They claim that value of BWN will always be at least 0.2 USD when using it to pay for phones, laptops, watches and other stuff from their online and physical stores. I have no idea how they can guarantee something like that, as we know the crypto price volatility.Let's say crypto market crashes, BWN goes down 90%, they will keep selling laptops under price? I honestly doubt that.

After launching their ICO i made a short investigation about them. Last year during ICO sale i visited their team section and found one of their team members social media details. After that i tried to contact that person through facebook to confirm the relation between wings mobile and Bitwing. Sorry to say that he didn't make any reply from his end. From my investigation i didn't find anything on his profile which relates with Bitwings.

I didn't find any FB posts made by him mentioning Bitwings, but I saw one or two cases of others mentioning it in the comments on his posts. He might be involved in Wings Mobile and Bitwings as well, but that doesn't make their claims more legit, imho. What they promise is simply too good to be true, and we all know how those projects end up.

[mocacinno]

--snip--
Official explanation  would be cloud mining I guess, but they advertise it a phone itself would mine that ETH, even comparing it to the mining rig.


--snip--

This table says it all... If this table is placed on their website, they're trying to scam. A phone with those specs having a hashrate ~3 times higher than a rig with 13 GPU's.... Not even taking into account the ridiculously low power draw...

[Rikafip]

This table says it all... If this table is placed on their website, they're trying to scam. A phone with those specs having a hashrate ~3 times higher than a rig with 13 GPU's.... Not even taking into account the ridiculously low power draw...

It is on their website indeed, and in few other publications. It sounds much better to potential buyers that phone can mine 2 ETH than "buy our phone that is connected to cloud mining pool". Especially since they claim that there will even be a free option, so if you paid phone 600 USD back in mid 2019, you will get 0.2 ETH per month for 3 years. Sounds like a good deal to those that have no idea how mining works, so no wonder that people started preordering them.

[marlboroza]

This is wings youtube video from 2019 https://www.youtube.com/watch?v=OXfJYAFIjuY, they have bunch of shills writing fake reviews:



Bitwings youtube video https://www.youtube.com/watch?v=zm_19ERgZSE also the same fake reviews:



Actually, person on this video has few videos, including video (https://www.youtube.com/watch?v=N8WvafXbwAI) for Smart Trade Coin ICO (Announcement topic: https://bitcointalk.org/index.php?topic=5059459.0 ) and this project is according to https://fintelreport.com/tag/smart-trade-coin  scam (I didn't check details) and, according to icobench, their team didn't pass KYC test.

Smart Trade Coin is based on 4 pillars:

The project areas and advantages of Smart Trade Coin are based on 4 pillars, which we summarize under the term Smart Trade Coin World.

...while bitwings is based on 2 pillars:

The WINGS MOBILE business model is based on two fundamental pillars

...but they actually have 5 pillars:

Fifth pillar: money is a means of payment.

source: https://bitwings.org/file/white-paper-2019-en.pdf

Except some random similarities, I didn't find any connection between these two projects, if anyone wants to compare whitepapers here is archived version of Smart Trade Coin's whitepaper http://web.archive.org/web/20190404191820/https://smarttradeico.io/stc-wp.pdf, anyway, this whole project sounds like just another cloud mining scheme.


Real question is, if Bitwing has phones and technology to mine without power consumption since April 2019, why the hell they need other peoples money? Thing is, they don't, according to them, they already have money making machines...

[MoparMiningLLC]

Sounds like a regurgitation of Bitclub but with a phone added in. Hey, scammers gotta change it up every now and then.

In my opinion, anything that promises a set amount of return is a ponzi - there is no way to guarantee a rate when you cannot control the price, network difficulty, or block find for your specific coin.

the only way to guarantee a set rate would be to take in millions from investors and pay it back out in increments - always ensuring you bring in more than you pay out - of course. 

[stompix]

But even with cloud mining, profit they promise is way too high and I don't see how can that be sustainable, without them constantly loosing money. Renting 1000 MH/s for 3 years is very expensive, and yet they will charge those that buy the phone only fraction of the real price.

Let's say they've just done a publicity stunt and yeah, the phone comes with a mining contract...
Even if they would try to build a mining company with money from phones, it would be impossible.

The best, absolute best gear that's on the market that could deliver 2 eth a month means one and a half Inno A10 for each contract, but the starting price for that gear would be 4500$, 4.5x times what they get on for the phone, and 2x times what they get fro the plan,  and it would also imply they take the hit for the electricity. And!!!!...it goes with the assumption that Buttercup doesn't wake up in one morning in a bad mood and we see ETH going POS.
Nope, cloud mining, or phone mining, the revenue is in any way impossible for that amount.
I doubt it will even manage to become a ponzi, as I think it is close to impossible for them to pay even a few clients for more than a month.

At least the Finney phone was legit, this one is pure garbage.

[dkbit98]

I did more research about Bitwings, and watched more of their hilarious videos on youtube
Looks like they have most of their funds from Wire transfer (over 74%) if we trust what they say.
That is over 387k USD in total they collected so far.





Looks like they also collect fund in future time. 343$ collected from August 2020:



Interesting read is document from Panama - THIS 13 ETHEREUM MINING SERVICE Pre – Agreement:
https://minephone.bitwings.org/file/1000mhs-ethereum-mining-service-contract.pdf
archive: https://web.archive.org/web/20200617163412/https://minephone.bitwings.org/file/1000mhs-ethereum-mining-service-contract.pdf







Bitwings ETH address:
https://etherscan.io/address/0xDD102e166eDB515863F7A279C849cc24F8ff83Ca

Bitwings BTC address:
can't find it yet (they generate new addresses for users)

[Rikafip]

This is wings youtube video from 2019 https://www.youtube.com/watch?v=OXfJYAFIjuY, they have bunch of shills writing fake reviews:
Bitwings youtube video https://www.youtube.com/watch?v=zm_19ERgZSE also the same fake reviews

Good find! Since they are doing the same thing on their ANN thread, no surprise that they are shilling YouTube videos. I guess they went for full shill package.

Real question is, if Bitwing has phones and technology to mine without power consumption since April 2019, why the hell they need other peoples money? Thing is, they don't, according to them, they already have money making machines...

There are many questions about Bitwings as they promise a lot, and most of it sounds to good to be true, especially that 300% profit in 3 years part. Promising minimum value of their tokens is not any better either, considering they were selling those tokens for half the price last year.

The best, absolute best gear that's on the market that could deliver 2 eth a month means one and a half Inno A10 for each contract, but the starting price for that gear would be 4500$, 4.5x times what they get on for the phone, and 2x times what they get fro the plan,  and it would also imply they take the hit for the electricity.

Damn, that's crazy amount of money needed to produce 2 ETH per month, and yet they promise that for period of 3 years, for such a low price. That 18 ETH they would charge for "Enterprise" contract is cheaper than 1 of that Inno A10miners. And then you add electricity cost etc.. As I thought, their calculation doesn't make any sense.

the only way to guarantee a set rate would be to take in millions from investors and pay it back out in increments - always ensuring you bring in more than you pay out - of course.  

Therefore making it a classic ponzi, that will go on as long there is influx of new investors that will pay for earlier investors.

Looks like they have most of their funds from Wire transfer (over 74%) if we trust what they say.
That is over 387k USD in total they collected so far.

Might be that sale is not going as good as they planned, even though it started back in January 2019 so that's why they keep going on with new IEO rounds.



After everything presented , I think that is obvious what is going on here, so I am raising a flag. Please support

Flag Type 1 https://bitcointalk.org/index.php?action=trust;flag=2034

[dkbit98]

I have feeling :
1. The users will be given altcoin/token rather than 13 ETH based on their own rate
2. The ETH wallet on Mine[Phone] W[X] is custodial wallet and they will freeze users fund with vague reason

Probably true.
People will all get their bitwings token they can only be sold at specific price and only in their shops, maybe.

Document has more interesting information for examination.

[Bitwings_official]

As mentioned in the title, Bitwings is company that promises smartphone with the capability of mining up to 2 ETH per month. Anyone with the basic knowledge of crypto mining knows that this number is simply not possible to get with smartphone. They have other questionable promises, like guaranteeing value of 1 BWN=0,20 USD, no matter what.

Flag Type 1 https://bitcointalk.org/index.php?action=trust;flag=2034

ANN https://bitcointalk.org/index.php?topic=5133411.0
Archive https://archive.fo/LoOB5

Website https://bitwings.org/
Archive https://web.archive.org/web/20191021215311/https://bitwings.org/

This is their smartphone, also known as Minephone WX. It will cost you 6000 BWN, or between 900-1200 USD (depending in which ICO phase you bought tokens) When you look at the specs, it is nothing special, but thanks to the magical software, it will be capable of doing for what you usually need few mining rigs.



When you get your MinephoneWX, you will be able to chose among few different mining contracts, and for that you will have to pay additional activation fee in ETH ( or go for free option, which will bring you 0.2 ETH per month).



But that is not all. Bitwings already has working cloud mining that looks like a classic ponzi scheme, as they promise 10% monthly profit for the period of 3 years. Here are few of their packages (they have smaller and bigger ones than those in the picture).
https://bitwingsprofit.com/
https://archive.vn/cv0T7



One more red flag is hiring bumping service for their ANN thread in order to fake interest. Some accounts are already tagged, mostly those that were active at the beginning.


So, what are your thoughts, does their promises seem plausible and realistic or is this just another scam in making?

Tomorrow we are launching the Minephone WX, that mines up to 2 Eth/month with the aid of Cloud Mining and 3 exclusive features. You will get all your answers from tomorrow. We are not here to fake and cheat our customers. Customer value is our priority.

[masulum]

Since the beginning of the sale, they have no consistency. Several times they extended the sale even though when they said they would not extend the sale again, the reality was still doing an extension. I, who initially supported this project, began to get suspicious when I saw inconsistencies from the team. Last month I asked about the process of bitwings phone, because at that time I felt it was normal with the pandemic conditions, but with this thread it convinced me that this project was not entirely reliable.

We are not here to fake and cheat our customers. Customer value is our priority.

If your customer is your priority, your project should have been running better, until now we don't know when your tokens can be sold, from the token sale has been extended repeatedly? With the increasing difficulty of mining, how do you deal with problems on your mobile for ETH mining and are you still sure you can produce 2 ETHs with your phone? You really say "up to 2 ETH", the word "up to" often traps customers in promotions/campaign. Like what happens in e-commerce sales, they say discounts up to 90%, in fact, 90% discounts are only for items that have no value. And maybe your "up to" will have same results, the promotions is up to, but in reality 1 year only 0.00xxxETH  can you give an explanation here?

[hacker1001101001]

We are not here to fake and cheat our customers. Customer value is our priority.

If your customer is your priority, your project should have been running better, until now we don't know when your tokens can be sold, from the token sale has been extended repeatedly? With the increasing difficulty of mining, how do you deal with problems on your mobile for ETH mining and are you still sure you can produce 2 ETHs with your phone? You really say "up to 2 ETH", the word "up to" often traps customers in promotions/campaign. Like what happens in e-commerce sales, they say discounts up to 90%, in fact, 90% discounts are only for items that have no value. And maybe your "up to" will have same results, the promotions is up to, but in reality 1 year only 0.00xxxETH  can you give an explanation here?

You should not even expect phones mining 2 ETH/month in any sense. What even dragged you to initally supporting this project is unimaginable.