Cloudmining 101

[RoadStress]

Good job Puppet! Look what you done: http://www.coindesk.com/chinese-bitcoin-mining-firms-transparency-push/  

[1714078722]

1714078722

[1714078722]

1714078722

[dyask]

ltcgear                       1+3+4+5+6              => 5/7 = (very) suspicious (info welcome)

LTCgear is ending the temporary affiliate program so #5 will no longer be valid.

[kalos1991]

zencloud hi fees poor earning fast withdraw btc

[Rupture]

Based on order numbers LTCGear has sold 1400 GH ..

1400 GH.

[dyask]

ltcgear                       1+3+4+5+6              => 5/7 = (very) suspicious (info welcome)

LTCgear is ending the temporary affiliate program so #5 will no longer be valid.

Seems like LTCgear is backing down on ending the affiliate program.   They really should just end it!

[PulsedMedia]

This list bases on a few criteria, so one must do their own research first.
LTCGear has been so far good and so has been PBMining.
But i would never put money down on PETAmine, the payouts they give out is far less than what should be for 1Gh, plus other users seem to think it is a long con.
Criterias should include real world contact and reachability, a real person(s) behind this and has someone visited them etc.

EDIT: Tho thanks for doing the work, it does cut some of the work vetting these out

[Puppet]

This list bases on a few criteria, so one must do their own research first.
LTCGear has been so far good and so has been PBMining.
But i would never put money down on PETAmine, the payouts they give out is far less than what should be for 1Gh, plus other users seem to think it is a long con.
Criterias should include real world contact and reachability, a real person(s) behind this and has someone visited them etc.

EDIT: Tho thanks for doing the work, it does cut some of the work vetting these out

Companies that play it honestly will generally get a bad reputation because they will usually prove unprofitable. Thats what mining at end user prices + operating and profit margin for the issuer tends to result in. THe ponzi's can promise far better profitability.. right until when they disappear.  

So yeah, you will find plenty people bashing the companies that I rated as legitimate and people raving the obvious ponzi's. Of course that will change over time.

As for cryptx specifically; its kinda ironic Ive been warning against investing in them since last spring. Not because they are not legitimate, but because the market prices guaranteed a huge loss. That of course happened, and that is mostly why people are bashing cryptx, but simple math could have predicted that, I predicted it, but that is no fault of cryptx. There are some issues you can blame him for, like ignoring shareholder vote to switch pools, but by and large, thats small potatoes compared to the ponzi's that dont even mine anywhere.

[PulsedMedia]

Based on order numbers LTCGear has sold 1400 GH ..

1400 GH.

Quite a bit of FUD here.

Now i would like to see those maths

They started selling 43khash at a time, new shares are 100khash each and sold in batches equivalent of 183mhash.

It's been validated that most orders go unpaid etc.

The new 40k0 packs resulted in a few dozen ghash indeed by themselves. That is huge, seeing the total network is right now 1 426Ghash. several % of the network there alone.

EDIT:
This is explained: https://litecointalk.org/index.php?topic=22708.0

Now assuming he has had 10k "orders", out of which 80% are paid which is 8000, and if each is the latest 183Mhash pack that is 1464Ghash indeed. But alas it is not, most of them are not actual sales etc. because # gets larger with each comment, page etc. so it's probably more like 4k paid orders, out of which most are sub 100Mhash. even at 4k & 183Mhash it results to about 732Ghash. Still a huge number tho.

[david123]

#1 Hashing power cannot be calculated using order numbers. I agree..
#2 Even if #1 was possible: Shares do not only come from orders, also from multiplicatins and referrals.
I have troubles guessing a good estimate for the ratio between bought shares and multi/ref shares.

Without insider knowledge, I think it's virtually impossible to estimate ltcgears numbers.

[bitbubble]

Thank you for the list Puppet! 
What about bitcoincloudservices.com?
I would give it: 1+2+3+5+7
What do you think?

[Ritch]

Thank you for the list Puppet!  
What about bitcoincloudservices.com?
I would give it: 1+2+3+5+7
What do you think?

BCS pays with a stable mathematical, dayly output without any fees nor maintance costs. I've reached my ROR so far and now I'm earning (hopefully) for the next years. All in all it was a better investing for me, than buying expensive hardware at my own.

@Puppet: "MN (1/2)" from Crypsty should be in your analysis-list.

[Puppet]

Thank you for the list Puppet! 
What about bitcoincloudservices.com?
I would give it: 1+2+3+5+7
What do you think?

Its worse than that, they arent even paying out and seems they never have:
https://bitcointalk.org/index.php?topic=414314.0

[Puppet]

@Puppet: "MN (1/2)" from Crypsty should be in your analysis-list.

I dont see it being for sale anymore. Perhaps it can still be traded between users on cryptsy, but then its a game of hot potato, no different than all the scam coins being traded there.

[vm_mpn]

Thank you for the list Puppet! 
What about bitcoincloudservices.com?
I would give it: 1+2+3+5+7
What do you think?

Its worse than that, they arent even paying out and seems they never have:
https://bitcointalk.org/index.php?topic=414314.0

Are you sure you guys are talking about the same service?  BCS seems to be good on payments so far. How long it's going to last, however, I don't know.

[Puppet]

Are you sure you guys are talking about the same service?  BCS seems to be good on payments so far. How long it's going to last, however, I don't know.

I messed up. Removed the rating, Ill look in to bitcoincloudservices later. (edit: done and reinstated)  Although at first glance, when I see 10% referral, 5 year contract with no (fiat denominated) maintenance fees, I think I already know what the outcome will be.

[galdur]

Thank you for the list Puppet!  
What about bitcoincloudservices.com?
I would give it: 1+2+3+5+7
What do you think?

Its worse than that, they arent even paying out and seems they never have:
https://bitcointalk.org/index.php?topic=414314.0

Are you sure you guys are talking about the same service?  BCS seems to be good on payments so far. How long it's going to last, however, I don't know.

So this puppet yokel is flat out lying.

[Puppet]

I see how I messed up. In some way, I did not. I checked bitcoincloudservices  registration here:
https://www.opencompany.co.uk/company/08935510/btc-cloud-services-ltd

The supposed director "Gabriel Kleiman" doesnt have any online id and is most likely fake. When I checked the other person listed there, the founding director "Esteban Amador Soto Martinez", the first result pointed to this scam report:
https://bitcointalk.org/index.php?topic=414314.0

for www.bitcoincloudhashing.com which wasnt even a ponzi and never paid a satoshi.

You can probably put 1 and 1 together. Same people, just scam V2.

[Ritch]

Thank you for the list Puppet!  
What about bitcoincloudservices.com?
I would give it: 1+2+3+5+7
What do you think?

Its worse than that, they arent even paying out and seems they never have:
https://bitcointalk.org/index.php?topic=414314.0

Are you sure you guys are talking about the same service?  BCS seems to be good on payments so far. How long it's going to last, however, I don't know.

Well, I got my last payout one hour ago. Everyday since 27. July so far (and I refered no one there). Sure it's risky, but: No risk - no fun - no income. BCS pay much more than CEX ever could - Ponzi or not, as long I can earn something, it's ok. That's my personal experience with BCS and I don't know anyone who was'nt payed out so far. All in all I've never lost a satoshie with clouds or Hyips. Luck? No, it's: Fast in, fast out and allways splitting the risks.

BCS-PAYOUT ADDRESS: https://blockchain.info/address/1BTCPayb5AdF8fSsR7oews2PpuVpRtamk6

BTW: All my referral-links lead to free-games with warranty output only, so no one will loose. I would never post ref-links leading to risky investments, because I don't want to be a complicity of potential scammers.

[DARKANGEL6415]

AMhash by Asicsminer is good share to buy right now for cloudmining I think. Cheap price and cheap maintenance cost. Dividend payout daily. Also Asicsminer is trustworthy

i am wondering if they good company amhash i got a few shares of amhash1 on havelock just to try out. So hope all goes good i see they now have amhash1 on hashie website also and they endoresed it so worries me seeing the grade score here so i really hope op wrong about this

[DARKANGEL6415]

Isn't it interesting the more legit a company is the more widely hated it is?   CEX.io ...

sometimes it is true, we have been burned or exposed to so many scam company or heard of horror stories but never personally suffered ourselfs. Alot of people have cex.io but the truth is despite all the bitching and moaning people still use them " including myself " . The reason i use them alot despite prices is 1. They been around for long time and never had problem on the contrair people was begging to stop minning them a few months ago to avod them having 51% btc hash. 2. they offer so many different trading options and its a place to buy and hold coins kinda reminds me of cryptsy to some extent.  3. They allow you to convert GHS into vouchers and sell them like on ebay or amazon or gift them however you please. They even let you claim the GHS into actual mining hardware if you want it and if you have your own miners you can have them mine along side the virtual ones.  4. I like the fact you can sell GHS vouchers or trade them straight up accross the board even in small fractions of like 0.01GHS yes i know might not be worth it but nice to have. The last reason 5 ... I like the colors at cex.io LOL oh and i like i can deposit funds with cc