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Author Topic: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁  (Read 308810 times)
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Puppet
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December 29, 2014, 08:39:08 PM
 #321

FFS.. No. Of course not. Its not rocket science. You pay $x per month flat fee. A month is a unit of time. Actual fees are then appropriated per block.  So if a block takes 2x longer to mine than average, you would expect to pay 2x more in fees on that block, because it took twice as long. and vice versa, a block thats found in half the average time will only cost you half as much in fees. Because the fees you pay per time unit, not per block. I already explained this to you several times and this is my last reply to you. Your inability to do math and comprehend simple concepts doesnt make cex.io a scam. Please take this elsewhere.
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julian071
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December 29, 2014, 11:00:07 PM
 #322

There's still the discussion wether the ponzi's that collapsed in recent days were doing fractional reserve mining or no mining at all. First clue is that their demise most probably did not make a big dent in the global hashrate.

=P
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December 29, 2014, 11:34:49 PM
 #323

I told you so, we have an avalanche of collapsed ponzis Wink btw if they were really mining the miners would be not affected and working as usual.

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December 29, 2014, 11:57:53 PM
 #324

I like this thread, thank you Puppet

Zeushash has stopped Mh/S Scrypt as the fees are more than the earnings as they are using Gridseeds etc. everyone that had Scrypt at Zeushash has lost their investment, me included

Where is that news that Zeus stopped MH/s Scrypt? I can still see the possibility to buy MH/s on their website, both as such and in 'TwinHash'?


> Most cloudmining companies are ponzi scams <
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December 30, 2014, 12:07:02 AM
 #325

I told you so, we have an avalanche of collapsed ponzis Wink btw if they were really mining the miners would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/

=P
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December 30, 2014, 12:19:28 AM
 #326

There's still the discussion wether the ponzi's that collapsed in recent days were doing fractional reserve mining or no mining at all. First clue is that their demise most probably did not make a big dent in the global hashrate.
That's because the hashrate was fake.

Worst thing so far, they will not all explode before Bitcoin resumes expansion and your sites will still be filled with shitty scammy adverts for cloud hashing.
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December 30, 2014, 12:59:53 AM
 #327

I told you so, we have an avalanche of collapsed ponzis Wink btw if they were really mining the hardware would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/
I meant the hardware Wink

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December 30, 2014, 01:24:14 AM
 #328

I told you so, we have an avalanche of collapsed ponzis Wink btw if they were really mining the hardware would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/
I meant the hardware Wink

Hehe well still well put!

=P
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December 30, 2014, 01:26:30 AM
 #329

I told you so, we have an avalanche of collapsed ponzis Wink btw if they were really mining the hardware they were using would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/
I meant the hardware Wink

Hehe well still wel put!
I have improved it again Wink

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December 30, 2014, 02:57:13 AM
 #330

Thank you for this post.

Please, add to this https://www.cryptsy.com cloud mining too

Quote
Consolidated Mining Specifications

140 Th/s Total Mining Power
No term - continues until it no longer produces
1.0 Unit = 1.167 Gh/s
Total Shares Available: 120,000
Daily Mining Payouts Directly To Your Cryptsy Balance

About MN - https://www.cryptsy.com/currencies/view/260
Market MN/BTC - https://www.cryptsy.com/markets/view/MN_BTC
KingTylerVVS
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December 30, 2014, 04:55:39 AM
 #331

case and point - do not buy cloud mining. Period. Ever. Just save your bitcoins, buy physical miners if you like, and WORK for your money. Create real value for society. Cannot get something for nothing, do not let ANYONE convince you to part with your money.
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December 30, 2014, 08:44:50 AM
 #332

Thank you for this post.

Please, add to this https://www.cryptsy.com cloud mining too

Quote
Consolidated Mining Specifications

140 Th/s Total Mining Power
No term - continues until it no longer produces
1.0 Unit = 1.167 Gh/s
Total Shares Available: 120,000
Daily Mining Payouts Directly To Your Cryptsy Balance

About MN - https://www.cryptsy.com/currencies/view/260
Market MN/BTC - https://www.cryptsy.com/markets/view/MN_BTC



Thanks, didnt know about that one. At first glance only 1+2+3 seem to apply.  Anything else I should know?

virtapayseller666
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December 30, 2014, 10:02:51 AM
 #333

read this about why site down  http://www.reddit.com/r/Bitcoin/comments/2qpao3/hashprofit_is_down_ddos_attack_or_scam/

https://hashprofit.com/ RIP Site down

new Scam

 

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Muhammed Zakir
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December 30, 2014, 10:10:01 AM
 #334


Site is still up but they changed HTTPS to HTTP. Roll Eyes

   ~~MZ~~

etnak
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December 30, 2014, 12:48:21 PM
 #335

Another ponzi site that went down this week is coins-miners.com
l3sny
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December 30, 2014, 12:56:49 PM
 #336

They are dropping like flies;) Next!

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December 30, 2014, 01:27:31 PM
 #337

puppet. you have anything invested somewhere?  if so, where ?

im ssoooooo tired of this scamming bs ..

inBitweTrust
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December 30, 2014, 01:30:55 PM
 #338

puppet. you have anything invested somewhere?  if so, where ?

im ssoooooo tired of this scamming bs ..

You are better off refusing to participate in cloud mining, buying BTC directly, and pressuring ASIC manufactures to lower prices and behave more responsibly.

Here are ways you should store your bitcoins :

https://bitcointalk.org/index.php?topic=858604.0

Puppet
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December 30, 2014, 01:32:47 PM
 #339

puppet. you have anything invested somewhere?  if so, where ?

I sure have.
I own a non trivial amount of bitcoins, most of which in a cold wallet.
Dilemma
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December 30, 2014, 01:35:21 PM
 #340

Another ponzi site that went down this week is coins-miners.com
it is not a new
they didnt pay for last two weeks
they are scammer..

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