[KRYPTOLOGIKA] Trade silver-backed hash power for the best prices!

[crazyivan]

Looks like up and running:

Any reported payments? Tuesday is the deadline.

[1714167865]

1714167865

[1714167865]

1714167865

[1714167865]

1714167865

[cryptojumper]

I have a question how do you manage to buy silver that you are to ship to investors at the end of the contract? Aren't you supposed to buy equipment with the received money? When equipment is unprofitable you could sell it and send the liquidation money, why bother with that silver

[l3sny]

I have a question how do you manage to buy silver that you are to ship to investors at the end of the contract? Aren't you supposed to buy equipment with the received money? When equipment is unprofitable you could sell it and send the liquidation money, why bother with that silver

When the equipment is unprofitable is worth zero and cannot be sold.
To get physical silver you need to possess at least 1 THs as this amount will be converted to 1oz of silver. There are also costs of posting invovled so not all the customers will take physical silver I believe and would prefer to settle in bitcoin at COMEX prices.

We have decreased maintenance costs by 1.13% following free 48hrs mining.

[crazyivan]

I have a question how do you manage to buy silver that you are to ship to investors at the end of the contract? Aren't you supposed to buy equipment with the received money? When equipment is unprofitable you could sell it and send the liquidation money, why bother with that silver

When the equipment is unprofitable is worth zero and cannot be sold.
To get physical silver you need to possess at least 1 THs as this amount will be converted to 1oz of silver. There are also costs of posting invovled so not all the customers will take physical silver I believe and would prefer to settle in bitcoin at COMEX prices.

We have decreased maintenance costs by 1.13% following free 48hrs mining.

So everything s back online and operational?

[cryptojumper]

crazyivan, are you invested here? How are the payouts? Are they the same as per ghs as on other platforms, because the price looks like considerably lower... Why is that? If everything is fine here just underpriced ghs I might buy some

[crazyivan]

crazyivan, are you invested here? How are the payouts? Are they the same as per ghs as on other platforms, because the price looks like considerably lower... Why is that? If everything is fine here just underpriced ghs I might buy some

Nah, I do not have my share here. I was thinking about it, this is why I keep asking so many questions.

[l3sny]

yes, everything is up and running.

[crazyivan]

yes, everything is up and running.

Cool, let me test this then with some small amount.

[l3sny]

please bear in mind that current prices are market prices from our users as we are now selling only for EUR in packages of 200, 500 and 1000GHs.

[crazyivan]

please bear in mind that current prices are market prices from our users as we are now selling only for EUR in packages of 200, 500 and 1000GHs.

Ok, so you ve got your packages as well as hash from your exchange. Why do you mention this?

[flyingplows]

please bear in mind that current prices are market prices from our users as we are now selling only for EUR in packages of 200, 500 and 1000GHs.

Ok, so you ve got your packages as well as hash from your exchange. Why do you mention this?

Congrats on coming back! I knew you would
I created account already and was waiting for your website to return operational so I could try some mining here, cause as I've said previously before the outage, and all the stuff, you seem an honest guy and I'm glad you are back and running after all these bugs and accusations.
Was also wondering about is there any difference between the contracts purchased from the trade market in compared purchased from you directly, I mean does silver backing still counts etc..

[crazyivan]

please bear in mind that current prices are market prices from our users as we are now selling only for EUR in packages of 200, 500 and 1000GHs.

Ok, so you ve got your packages as well as hash from your exchange. Why do you mention this?

Congrats on coming back! I knew you would
I created account already and was waiting for your website to return operational so I could try some mining here, cause as I've said previously before the outage, and all the stuff, you seem an honest guy and I'm glad you are back and running after all these bugs and accusations.
Was also wondering about is there any difference between the contracts purchased from the trade market in compared purchased from you directly, I mean does silver backing still counts etc..

It should count cause the miner only changes hands, they still operate it. So this potential silver ownership changed hands as well.

[l3sny]

Silver coins are protection in case we would not be able to reduce our maintenance costs any further. It is a risk. However we expect at some stage silver price going much higher. So basically it is an investment ino both: hashing power an silver + you can play on the open market as there are 0& trading fees.

[Puppet]

you seem an honest guy

Dont all scammers appear to be honest before they run off? Didnt pirate have an all time record trust rating ? Forget appearances, look at the facts. Why would an honest guy not disclose the source of the hashrate he sells, why would he not provide any evidence he currently owns any non trivial amount of hashrate, be it physical or otherwise, why didnt he want me to disclose 90% of "his" hashrate was just an overpriced AMhash passthrough - which has since gone defunct ?
Just because he says he will ship you $15 worth of silver per TH if you pay up to  $30 in shipping?

[primeminer]

Dont all scammers appear to be honest before they run off? Didnt pirate have an all time record trust rating ? Forget appearances, look at the facts. Why would an honest guy not disclose the source of the hashrate he sells, why would he not provide any evidence he currently owns any non trivial amount of hashrate, be it physical or otherwise, why didnt he want me to disclose 90% of "his" hashrate was just an overpriced AMhash passthrough - which has since gone defunct ?
Just because he says he will ship you $15 worth of silver per TH if you pay up to  $30 in shipping?

Puppet

your investment advises and opinions have lost their appearance of being objective and reliable but now you are just digging it further. Please just tell me you have some source of that shipping cost other than a gut feeling. If not stop clowning around....

[flyingplows]

I still link his 101 thread to newbies asking if some shit scam site is legit, but it's complicated...
My judgement on Puppets thread would be something like this:
1) It is very helpful for newbies and kids not to not lose their money on shitty scammers, because there are always shills on dedicated ANN threads that promote how legit and why so this scam is.
2) For members and higher people here that thread is irrelevant because given the same criteria most likely they would place the points differently, not even talking about that the criteria for legitness might be different in some cases.

So the bottom line is - if you know what you're doing don't let Puppets 101 thread have any influence on you, because you know better!
KRYPTOLOGIKA, in my opinion should provide more clarity to their customers in what they are investing in, but it is surely not in line with all these bastards it is listed with there.

[l3sny]

At this stage it is not possible to disclose the details of our mining operation. I am sure it will be possible in the future however I just do not think we need it at all. Funny Puppet did not sniff out our  troubles with the trading engine

Honestly.... I just do not care what third parties  say about kryptologika. We keep calm and continue mining, all that matters is to continue reducing the maintenance prices and sell more GHs.

[Puppet]

I still link his 101 thread to newbies asking if some shit scam site is legit, but it's complicated...
My judgement on Puppets thread would be something like this:
1) It is very helpful for newbies and kids not to not lose their money on shitty scammers, because there are always shills on dedicated ANN threads that promote how legit and why so this scam is.
2) For members and higher people here that thread is irrelevant because given the same criteria most likely they would place the points differently, not even talking about that the criteria for legitness might be different in some cases.

Im actually completely fine with that; in fact, its basically the point Im trying to get across: do your own due diligence, and feel free to use my criteria as a guide. Thats way more important than looking at the list.

That said, while its good to weigh importance of criteria individually and not just tally them like I do, I chose my criteria for a reason, and will defend all of them. The reality is that l3sny barely complies with any of them, especially the most crucial ones about ownership of hashrate. Its even worse than not knowing, we do know he lost ownership of most of the hashrate he did have. So why you would just trust him nonetheless? Even if you overlooked my disclaimers,  the AM/AMhash debacle should have learned us that complying with all or nearly all 101 criteria isnt enough and still doesnt guarantee you much. Why would you feel confident about a service that doesnt even come close to that?
Of course its possible l3sny wont scam you, but why take the risk?

[l3sny]

But the thing is that we started mining hosting ourselves. Then we used a combined hashing power of our jupiters, neptunes and private enterpreneurs from China. THen we added a few cloud mining services and resigned from our own hardware etc. And basically we are always looking to allocate the hashing power in the best offers available so I am really unable to show one consistent pool or hashrate etc. I do not think we will be ever mining at one particular place. THis strategy makes it possible to reduce the prices and keep the business afloat. And believe me I am not doing any significant profits out of this, I think rather that if we can survive say a year from now the trust and value of this undertaking will gain in value. Then perhaps with our goodwill we may think of taking a strategic investor on board or do something much more serious on a greater scale.

THere are many other issues apart from that, mostly positive. I have a new job now and will be able to invest further in development of kryptologika in a few months. On the other hand BTC is very low, silver is low as well so we are not shining and this bug with the trading engine was really not easy to sort out. So from this point I really do not care about the credibility or whether someone is alleging we are scammers or con artists. And personally I do not like Puppet.

[crazyivan]

But the thing is that we started mining hosting ourselves. Then we used a combined hashing power of our jupiters, neptunes and private enterpreneurs from China. THen we added a few cloud mining services and resigned from our own hardware etc. And basically we are always looking to allocate the hashing power in the best offers available so I am really unable to show one consistent pool or hashrate etc. I do not think we will be ever mining at one particular place. THis strategy makes it possible to reduce the prices and keep the business afloat. And believe me I am not doing any significant profits out of this, I think rather that if we can survive say a year from now the trust and value of this undertaking will gain in value. Then perhaps with our goodwill we may think of taking a strategic investor on board or do something much more serious on a greater scale.

THere are many other issues apart from that, mostly positive. I have a new job now and will be able to invest further in development of kryptologika in a few months. On the other hand BTC is very low, silver is low as well so we are not shining and this bug with the trading engine was really not easy to sort out. So from this point I really do not care about the credibility or whether someone is alleging we are scammers or con artists. And personally I do not like Puppet.

If I were you, I would not post these kind of threads. In BTC world, credibility s everything. If you lose that, the only people you can count to work with are newbies and other scammers. None of these last long, the first group learns and stop being newbies. The second group....well....not worth of mentioning.