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Author Topic: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁  (Read 348528 times)
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December 17, 2015, 08:01:42 AM
 #1461

Home and cloud mining has come to an end. With these big boys building farms and raising diff 30% a month, with this hash base, it s simply not possible to make money from a point of a small home miners. Unless you go for ASIC free coins.

Is there any true ASIC resistant PoW coin or the concept is just a fallacy ?

For now, the most profitable is Etherum. Although it ll go PoS as well in the fall next year.

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December 23, 2015, 09:21:52 PM
 #1462

Home and cloud mining has come to an end. With these big boys building farms and raising diff 30% a month, with this hash base, it s simply not possible to make money from a point of a small home miners. Unless you go for ASIC free coins.

Im always seeing that asic how to get that?

ASIC is Application Specific Integrated Circuit. So if you go for coins that its impossible to do, then you can make profit with GPU and CPU processing.

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December 24, 2015, 02:40:45 AM
 #1463

Going to throw you a tip for a great assessment. Made a new thread warn people about the most popular cloudmining.website, non-payments starting to accrue rapidly.

Thanks for the predictions. New members don't get a contract there. It is not looking good.  Undecided
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January 12, 2016, 07:19:08 AM
 #1464

--- UPDATED LIST (12/01/2016) ---



Ponzi's that have already collapsed, obsolete or suspended as predicted:

Code:
PBmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
Lunaminer.com         1+2+3+4+5+6+7      => 7/7 = Ponzi
coinsoncloud.eu       1+2+3+4+5+6+7      => 7/7 = Ponzi
Cryptomine.io         1+2+3+4+5+6+7      => 7/7 = Ponzi
hashie.co             1+2+3+4+5+6+7      => 7/7 = Ponzi
bitcoinlabmining.com  1+2+3+4+5+6+7      => 7/7 = Ponzi
ltcgear               1+2+3+4+5+6+7      => 7/7 = (very) suspicious
hashprofit.com        1+2+3+4+5+6+7      => 7/7 = Ponzi
minethatcloud.com     1+2+3+4+5+6+7      => 7/7 = Ponzi
CoIntellect.com       1+2+3+4+5+6+7      => 7/7 = Ponzi
terabox.me            1+2+3*+4+5+6+7*    => 7*/7 = Ponzi (pictures are not at all convincing, exit strategy involves  60+ days stall tactic)
chabatmining.com      1+2+3+4+5+6+7      => 7/7 = Ponzi
Ecrypto.co.in         1+2+3+4+5+6+7      => 7/7 = Ponzi (+ confirmed scam, they are no partners of cex.io)
GenerateBTC.com       1+2+3+4+5+6+7      => 7/7 = Ponzi
cloudminr.io          1+2+3+4+5+6+7      => 7/7 = Ponzi
grmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
hashwar.co            1+2+3+4+5+6+7+8    => 7/7 = Ponzi
bitrush.com           1+2+3+4+5+6+7      => 7/7 = Ponzi
scrypt.cc             1+2+3+4+5+6+7+8    => 7/7 = Ponzi
Kryptologika          1+2+3+4+5+6+7      => 7/7 = Ponzi
Cryptsy MN            1+2+3+4+5+6+7      => 7/7 = Ponzi ( + no details on fee structure) (withdrawl problems noticed!)
Coolhash.com          1+2+3+4+5+6+7      => 7/7 = Ponzi (+ possible malware/wallet stealing software)
Bitminr.com           1+2+3+4+5+6+7      => 7/7 = Ponzi (+ possible malware/wallet stealing software)
MineProfit.com        1+2+3+4+5+6+7      => 7/7 = Ponzi (+ possible malware/wallet stealing software)
SpecialMiner.com      1+2+3+4+5+6+7      => 7/7 = Ponzi  (+ possible malware/wallet stealing software)
Cryptx PETAmine       1+2+3+4+5+6+7      => 7/7 = Ponzi
Scryptsy.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
cloudhours.net        1+2+3+4+5+6+7      => 7/7 = Ponzi
bitcoinmaker.ch       1+2+3+4+6+7+8      => 7/7 = Ponzi
AMhash                                   => 0/7 = Was legit but collapsed eventually
KNCcloud              7                  => 1/7 = Legit but stopped selling contracts
Cex.io                4                  => 1/7 = Legit but suspended their contracts
Megamine.com          1+4                => 2/7 = Was probably legit but stopped mining without notice!
GAWminers             1+4+5+~7           => 4/7*= Partially legit based on criteria set forth. Based on wider context: more suspicious than a nun squatting in a cucumber field.

Likely Ponzi scams that have yet to collapse:
Code:
HourlyMine.com        1+2+3+4+5+6+7+8    => 7/7 = Ponzi
cldmine.com           1+2+3+4+5+6+7+8    => 7/7 = Ponzi
Miningsweden.se       1+2+3+4+5+6+7+8    => 7/7 = Ponzi
bitcoinmining.me      1+2+3+4+5+6+7      => 7/7 = Ponzi
Skycoinlab.com        1+2+3+4+5+6+7      => 7/7 = Ponzi (+ organized by serial ponzi scammer: ?topic=583177.msg10298730)
btcslice.com          1+2+3+4+5+6+7      => 7/7 = Ponzi (+ pays out in reversible paypal ?)
cloudmining.website   2+3+4+5+6+7        => 6/7 = Ponzi
eobot.com             1+2+3+5+6+7        => 6/7 = Ponzi (+ possible malware/wallet stealing software)
nexusmining.com       1+2*+3+4+5+7       => 6/7 = Ponzi (Guy from Spondoolies says im wrong, but I can't score what I haven't seen and he seems to confirm they have no hardware)
minerslab.com         1+2+3+4+6+7        => 6/7 = Ponzi (+ selling hardware that doesnt exist + using purchased "legendary" account)
bitcoincloudservices  1+2+4+5+6*+7       => 6/7 = Ponzi (+ founded by known scammer  https://bitcointalk.org/index.php?topic=860400.msg9638868#msg9638868)
cloudmining.sg        1+2+4+6+7          => 5/7 = Ponzi (Founder's LinkedIn account deleted, Uses Weebly's free checkout platform)
hashcoins.com
and hashflare.io     ~1+2+3+4+7          => 5/7 = (very) suspicious (user selectable pool requires fee, dc pictures show no miners, linkedin profile doctored, hardware sales very dubious,..) (*now owned by hashflare.io)
Zeushash              1+2+3+4+5          => 5/7 = (very) suspicious
Bitminer.eu           1+2+5+6            => 4/7 = suspicious (+ Pictures of their miners might be Photoshopped)

Probably legit ones:
Code:
pow88.com             1+2+5              => 3/7 = Probably legit (preliminary assessment) (Suspicious referral bonus : 1% hourly !!!)
genesis-mining.com    1+2+7              => 3/7 = Probably legit.
Bit-x.com             1+4                => 2/7 = Probably legit (preliminary assessment, partnership confirmed by Bitfury)
haobtc.com            1+2                => 2/7 = Probably Legit (investment based cloudmining company => https://bitcointalk.org/index.php?topic=1023187.0)
bw.com                                   => 0/7 = Legit
Hashnest                                 => 0/7 = Legit

Did a big update w.r.t the previous one. Also merged the "Obsolete or suspended" list into the "collapsed" section since they have already collapsed by now.

Feel free to mention anything wrong/missing in the above list and I will correct/add them.



Tips are much appreciated for maintaining and updating the list periodically!
My tip jar: 1SoumyadbsfCGsSekYdgAkWpGZM3WSaxt
Thanks Smiley
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January 13, 2016, 03:07:32 AM
 #1465

--- UPDATED LIST (12/01/2016) ---


Probably legit ones:
Code:
pow88.com             1+2+5              => 3/7 = Probably legit (preliminary assessment) (Suspicious referral bonus : 1% hourly !!!)
genesis-mining.com    1+2+7              => 3/7 = Probably legit.
Bit-x.com             1+4                => 2/7 = Probably legit (preliminary assessment, partnership confirmed by Bitfury)
haobtc.com            1+2                => 2/7 = Probably Legit (investment based cloudmining company => https://bitcointalk.org/index.php?topic=1023187.0)
bw.com                                   => 0/7 = Legit
Hashnest                                 => 0/7 = Legit



Have you tried these sites yourself? My first time to hear about this bw.com
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January 13, 2016, 04:03:38 AM
 #1466

--- UPDATED LIST (12/01/2016) ---


Probably legit ones:
Code:
pow88.com             1+2+5              => 3/7 = Probably legit (preliminary assessment) (Suspicious referral bonus : 1% hourly !!!)
genesis-mining.com    1+2+7              => 3/7 = Probably legit.
Bit-x.com             1+4                => 2/7 = Probably legit (preliminary assessment, partnership confirmed by Bitfury)
haobtc.com            1+2                => 2/7 = Probably Legit (investment based cloudmining company => https://bitcointalk.org/index.php?topic=1023187.0)
bw.com                                   => 0/7 = Legit
Hashnest                                 => 0/7 = Legit



Have you tried these sites yourself? My first time to hear about this bw.com

design of BW.com is similar to the hashnest and they both have a data center and the mining machines AFAIK; i heard that in the blockchain.

out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will not be instantly responded
i am not really active for some reason
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January 13, 2016, 07:02:55 AM
 #1467

Have you tried these sites yourself? My first time to hear about this bw.com

I have not tried all except Hashnest and Genesis Mining but if you look at the network distribution oh hash powers you can see bw.com contributing some blocks. (https://blockchain.info/pools?timespan=24hrs)

You can also check out their recent blocks here --- https://blockchain.info/blocks/BW.COM

I think they are following the path and strategies of Hashnest although they are pretty new right now. You can give them a try and report here if they are good to be tagged as "legit".
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January 13, 2016, 07:39:27 AM
 #1468

Have you tried these sites yourself? My first time to hear about this bw.com

I have not tried all except Hashnest and Genesis Mining but if you look at the network distribution oh hash powers you can see bw.com contributing some blocks. (https://blockchain.info/pools?timespan=24hrs)

You can also check out their recent blocks here --- https://blockchain.info/blocks/BW.COM

I think they are following the path and strategies of Hashnest although they are pretty new right now. You can give them a try and report here if they are good to be tagged as "legit".

Doesn't matter, it s obvious cloud mining as we know it is coming to its end, at least for small home and medium users. With this galopping diff and upcoming block halving, only a very naive investor would put anything sizable into any cloud, unless you expect and hope for HUGE BTC price jump, more then double. Also, trading is a must option, if the cloud does not provide trading and selling option, it s not worth it.

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January 13, 2016, 07:52:10 AM
 #1469

Doesn't matter, it s obvious cloud mining as we know it is coming to its end, at least for small home and medium users. With this galopping diff and upcoming block halving, only a very naive investor would put anything sizable into any cloud, unless you expect and hope for HUGE BTC price jump, more then double.

True but you should not lose hope. Who knows if BTC price will skyrocket after the recent halving? Then obviously more miners will return. Also do not forget if subsequent number of miner goes offline the overall BTC difficulty might also go down AFAIK. Wink

Also, trading is a must option, if the cloud does not provide trading and selling option, it s not worth it.

As far as I know bw.com and pow88 are having the trading option. So you can buy and sell hash powers as and when needed. But I prefer bw.com more (after Hashnest) than pow88 because, pow88 is having a suspicious referral bonus of 1% hourly which seems quite fishy.
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January 14, 2016, 09:20:23 AM
 #1470

Why do you guys have miningsweden.se on the ponzi list? Arent they supposed to be really transparent?

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January 14, 2016, 09:41:10 AM
 #1471

Why do you guys have miningsweden.se on the ponzi list? Arent they supposed to be really transparent?

If you feel lazy to go back and read the op, let me explain in short for you:

1. No proof of mining = POOF!

2. No relevant pictures of their hardware and datacenter.

3. No public mining address / no user selectable pool.

4. They are totally anonymous operators.

5. They are selling Antminers but there is no endorsement from that ASIC vendor.

6. Referral programs and social networking. (Look at your signature Roll Eyes )

7. Fractional reserve mining risk. They are selling unlimited number of hardware, even Antminer cannot make so much.

8. No exit strategy.

You are one of their shills huh? Roll Eyes
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January 14, 2016, 01:13:55 PM
 #1472

How about https://hashflare.io/  Seems suspicious..

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
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January 14, 2016, 02:45:44 PM
 #1473

How about https://hashflare.io/  Seems suspicious..

This goes for hashflare ---

Code:
hashcoins.com
and hashflare.io     ~1+2+3+4+7          => 5/7 = (very) suspicious (user selectable pool requires fee, dc pictures show no miners, linkedin profile doctored, hardware sales very dubious,..) (*now owned by hashflare.io)

In short;

1. No public mining address.

2. No endorsement from any asic vendor. Although they itself are ASIC vendors (hashcoins.com) yet hashcoins had a pretty bad history of not delivering the miners to customers, even delaying refunds for a long time.

3. No relevant pictures of their hardware and datacenter.

4. Risk of fractional reserve mining.

5. No exit strategy after buying one of their contracts.
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January 14, 2016, 03:04:42 PM
 #1474

*cough*
Fractional Reserve Mining
*cough*

WARNING!!! Check your forum URLs carefully and avoid links to phishing sites like 'thebitcointalk' and 'BitcointaLLk'
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January 14, 2016, 03:07:50 PM
 #1475

Hello, someone has something to talk about BITKNOCK?

The site is https://bitknock.com/

I look and thank you.
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January 14, 2016, 03:17:11 PM
 #1476

*cough*
Fractional Reserve Mining
*cough*

Oops. Grin

Hello, someone has something to talk about BITKNOCK?

The site is https://bitknock.com/

I look and thank you.

1. They are hosting a bitcoin wallet for you? Shocked

2. In order to make the site look legit they have added Trade GHS to cover exit strategy.

For knowing rest of the reasons to call it a 7/7 ponzi, please read one/two comments above or the original op. I'm in no mood of writing them again for a brand new shill member.
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January 14, 2016, 04:09:46 PM
 #1477

Appreciate the attention, if anyone else wants to give more contribution will be very grateful, I'm new in mining and all valid and revelante information is welcome!
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January 14, 2016, 06:25:07 PM
 #1478

Why do you guys have miningsweden.se on the ponzi list? Arent they supposed to be really transparent?

If you feel lazy to go back and read the op, let me explain in short for you:

1. No proof of mining = POOF!

2. No relevant pictures of their hardware and datacenter.

3. No public mining address / no user selectable pool.

4. They are totally anonymous operators.

5. They are selling Antminers but there is no endorsement from that ASIC vendor.

6. Referral programs and social networking. (Look at your signature Roll Eyes )

7. Fractional reserve mining risk. They are selling unlimited number of hardware, even Antminer cannot make so much.

8. No exit strategy.

You are one of their shills huh? Roll Eyes

I do have mining shares there, so if that makes me one of the shills then yes lol

Anyways, they have posted proof of hardware, somebody on this forum, without a referral account nor a newly created one, physically went to the data center and saw the setup. And they don't sell unlimited power, if you go to the store sometimes they are sold out, and it says how many units left to sell...  Could they be a ponzi? Absolutely, but I wouldn't give them a 7/7, just my two cents.

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January 14, 2016, 06:44:21 PM
 #1479

Anyways, they have posted proof of hardware, somebody on this forum, without a referral account nor a newly created one,

Can you dug deeper and share that link where they showed their hardware. I cannot waste my time for this anyways.

physically went to the data center and saw the setup.

When did you visit there? 1885 BC? Next time if you visit there please do not forget to take your cameras with you and kindly share them here since they cannot afford to do that for themselves. Also it will be for their own benefit. Wink

And they don't sell unlimited power, if you go to the store sometimes they are sold out, and it says how many units left to sell...  Could they be a ponzi? Absolutely, but I wouldn't give them a 7/7

I saw them selling this (https://www.miningsweden.se/product/antminer-s5-hosted-miningsweden/) when I was a kid. Oh! They have marked "sold out" just now!
Great Cheesy
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January 14, 2016, 08:41:14 PM
 #1480

Anyways, they have posted proof of hardware, somebody on this forum, without a referral account nor a newly created one,

Can you dug deeper and share that link where they showed their hardware. I cannot waste my time for this anyways.

physically went to the data center and saw the setup.

When did you visit there? 1885 BC? Next time if you visit there please do not forget to take your cameras with you and kindly share them here since they cannot afford to do that for themselves. Also it will be for their own benefit. Wink

And they don't sell unlimited power, if you go to the store sometimes they are sold out, and it says how many units left to sell...  Could they be a ponzi? Absolutely, but I wouldn't give them a 7/7

I saw them selling this (https://www.miningsweden.se/product/antminer-s5-hosted-miningsweden/) when I was a kid. Oh! They have marked "sold out" just now!
Great Cheesy

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