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Author Topic: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁  (Read 348537 times)
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May 06, 2015, 04:28:34 AM
 #1021

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

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May 06, 2015, 03:27:24 PM
 #1022

I bought 100GH/s from both CloudMinr & Bitcoin Cloud Services (before coming onto this forum to see what people thought of cloud mining).

Both have been paying out on the schedule and approximate amount that they claim so far (I know that does not mean anything with regard to being Ponzi or not, but at least they are not just 100% scam, i.e. take your money and dont pay at all).

From reading almost this entire thread, it sounds like there are people that do not understand what a Ponzi scheme is, read the first post carefully people, it explains it well, especially in regard to cloud mining.

Can anyone tell me how long those two cloud mining companies have been going for?   As obviously, if it is a Ponzi that I have accidently got myself involved with, the earlier the better...

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May 06, 2015, 04:17:53 PM
 #1023

I bought 100GH/s from both CloudMinr & Bitcoin Cloud Services (before coming onto this forum to see what people thought of cloud mining).

Both have been paying out on the schedule and approximate amount that they claim so far (I know that does not mean anything with regard to being Ponzi or not, but at least they are not just 100% scam, i.e. take your money and dont pay at all).

From reading almost this entire thread, it sounds like there are people that do not understand what a Ponzi scheme is, read the first post carefully people, it explains it well, especially in regard to cloud mining.

Can anyone tell me how long those two cloud mining companies have been going for?   As obviously, if it is a Ponzi that I have accidently got myself involved with, the earlier the better...

Bitcoin Cloud started somewhere in April 2014 I think.

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May 06, 2015, 04:34:55 PM
 #1024

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

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May 06, 2015, 05:19:11 PM
 #1025

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

cex.io suspended cloud mining back in January 2015.

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May 06, 2015, 06:26:42 PM
 #1026

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

cex.io suspended cloud mining back in January 2015.

thanks dude.

So at this time there is none a legit/working service right now?

wanna invest in cloud mining...

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May 06, 2015, 07:15:29 PM
 #1027

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

cex.io suspended cloud mining back in January 2015.

thanks dude.

So at this time there is none a legit/working service right now?

wanna invest in cloud mining...

Check out https://bit-x.com!

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May 06, 2015, 08:09:44 PM
 #1028

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

The question is not whether it is legit or not. IT IS OBSOLETE. Forget it. Go Hashnest or Bit-x or go home.

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May 06, 2015, 08:10:28 PM
 #1029

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

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May 06, 2015, 10:00:34 PM
 #1030

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

Not quite. They still offer cloud mining but it's suspended by default (due to no profitability). Afaik you can still unlock it and mine at loss if, for whatever reason, you wanted to.

On other subject, mintsy.co is in beta (pre-enrolled users only though), I wonder how would they score.

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May 07, 2015, 12:53:36 AM
 #1031


marco, thanks dude gona check it right now


The question is not whether it is legit or not. IT IS OBSOLETE. Forget it. Go Hashnest or Bit-x or go home.

Ty man, the funny thing is that i recently have bought some Ghs on cex.io, i'm going to see what about Hashonest.


Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

I'm reading all those posts about trading/buying thing, when i feel confortable about understanding how get profit then gona try it. Thanks carzy.


Not quite. They still offer cloud mining but it's suspended by default (due to no profitability). Afaik you can still unlock it and mine at loss if, for whatever reason, you wanted to.

On other subject, mintsy.co is in beta (pre-enrolled users only though), I wonder how would they score.

Well let's see how minsty gona work...


All your posts are helpfuly mates, well at least to me.  Wink

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May 07, 2015, 05:11:02 AM
 #1032

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

Trading and buying BTC, yes they re legit. They do not offer cloud mining anymore.

Not quite. They still offer cloud mining but it's suspended by default (due to no profitability). Afaik you can still unlock it and mine at loss if, for whatever reason, you wanted to.

On other subject, mintsy.co is in beta (pre-enrolled users only though), I wonder how would they score.

Minsty.co is the most expensive cloud mining I ve seen so far. There s no way anyone can ROI on that ATM.

Hashnest is a nice choice, Bit-x s a bit pricier but still a nice alternative. Another option is to switch to poof of stake coins, it s similar to mining but no cloud operations needed, no electricity costs. My favorite proof of stake coin is DMD Diamond, 50% annual interest.

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May 07, 2015, 06:57:51 AM
 #1033


Minsty.co is the most expensive cloud mining I ve seen so far. There s no way anyone can ROI on that ATM.

Hashnest is a nice choice, Bit-x s a bit pricier but still a nice alternative. Another option is to switch to poof of stake coins, it s similar to mining but no cloud operations needed, no electricity costs. My favorite proof of stake coin is DMD Diamond, 50% annual interest.

Lost every respect for cryptsy (mintsy) because they got their hands in the paycoin scam scheme.

Proof of Stake - be careful, 50% annually means a potential 50%+ drop in value due to hyperinflation.

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May 07, 2015, 07:15:50 AM
 #1034


Minsty.co is the most expensive cloud mining I ve seen so far. There s no way anyone can ROI on that ATM.

Hashnest is a nice choice, Bit-x s a bit pricier but still a nice alternative. Another option is to switch to poof of stake coins, it s similar to mining but no cloud operations needed, no electricity costs. My favorite proof of stake coin is DMD Diamond, 50% annual interest.

Lost every respect for cryptsy (mintsy) because they got their hands in the paycoin scam scheme.

Proof of Stake - be careful, 50% annually means a potential 50%+ drop in value due to hyperinflation.

If you manage to stake 24/7 you will outstake the drop in value occuring from coin inflation by a little bit. And if a coin develops however, you could earn ever more.
But yes, the 50% interest is supposed to be counted in those coins, not in investment value.

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May 07, 2015, 12:41:11 PM
 #1035

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

They lost 60-70 BTC/day in the last two days. Thus, they might try to make a new offer to boost their sales one last time. After that the Ponzi will collapse. Unfortunately, there is no hope in this case.
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May 07, 2015, 12:50:07 PM
 #1036

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

They lost 60-70 BTC/day in the last two days. Thus, they might try to make a new offer to boost their sales one last time. After that the Ponzi will collapse. Unfortunately, there is no hope in this case.


I made some investigations and came to the same conclusion like wintermute. look here: http://imgur.com/vloNN4K

And Wintermute is right about the last try to boost their income. They offer "ONLY THIS WEEK" 2 years contracts for the price of 1 year - look here: https://www.bitcoincloudservices.com/
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May 07, 2015, 02:58:06 PM
 #1037

Just for your information: I have modelled the payouts and income from Bitcoin Cloud Services. They are now probably paying out more BTC to their users than they receive as income from new users. For the period from Apr 23 to May 5 they probably lost approx. 25 BTC each day.

Draw your own conclusions...

What if they had got 25+BTC before April 23?

I used my model to calculate that as well. In the past they made (huge) profits. This is the first time they are losing Bitcoin for a period of time.

It is very likely that Bitcoin Cloud Mining is a Ponzi scheme. As such they will probably not want to run on a loss for a long period of time. If they continue to lose money, I would expect them to shut down the operation in the next couple of weeks.

Heh. We ll see how good are your forecasts. For the sake of people who invested there, I home your are wrong.

They lost 60-70 BTC/day in the last two days. Thus, they might try to make a new offer to boost their sales one last time. After that the Ponzi will collapse. Unfortunately, there is no hope in this case.


I made some investigations and came to the same conclusion like wintermute. look here: http://imgur.com/vloNN4K

And Wintermute is right about the last try to boost their income. They offer "ONLY THIS WEEK" 2 years contracts for the price of 1 year - look here: https://www.bitcoincloudservices.com/

Let us see how good are you two in doom forecasting. According to you, Bitcoincloudservices dies in about 2 weeks, right?

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May 07, 2015, 03:16:23 PM
 #1038

Be it two weeks or two months all ponzies like this one, and this is a bit of a blatant one, will end the same way. It's been running for quite some time now... all the more risk for that...

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May 07, 2015, 03:52:48 PM
 #1039

I'm kinda newbie, so really need a quick answer, cex.io is legit or not?

cex.io suspended cloud mining back in January 2015.

thanks dude.

So at this time there is none a legit/working service right now?

wanna invest in cloud mining...

No problem. Full list at https://bitcoinnewsmagazine.com/ultimate-guide-to-bitcoin-cloud-mining/

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May 07, 2015, 11:35:10 PM
 #1040


It is an incomplete list. It does not contain cloudmining.website, which is paying consistently for over six months now and publishing blockchain payment proof - www.cloudmining.website/payments.php
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