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Author Topic: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁  (Read 347866 times)
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alevlaslo
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January 08, 2015, 06:05:16 AM
 #441

why Knccloud is legit, they website do not has the fotos of farms
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January 08, 2015, 06:29:39 AM
 #442

why Knccloud is legit, they website do not has the fotos of farms

Because they are legit. They are ASIC vendors. See https://www.kncminer.com .

   ~~MZ~~

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January 08, 2015, 07:02:36 AM
 #443

i waiting your scyript.cc report
then maybe i will join there
if it can be beetwen 0/8 and 2/8 Smiley

No need to wait, you can assess them yourself. Just look for their  business registration, mining addresses, pictures of their datacenter, find asic endorsement etc. Can you find them? I cant either so its not likely going to be a 0 or even 2.
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January 08, 2015, 07:06:54 AM
 #444

why Knccloud is legit, they website do not has the fotos of farms
There's lots of photos of the KnC farm.


The obvious should be posted here that being legit doesn't mean they are a good investment. It just means they aren't likely a ponzi. KnC has screwed over a large number of their customers, and I believe there's a class action at least in the formative stages against them. Cointerra was another hardware vendor that had a cloud mining operation that was legit, but they are now bankrupt and all indications are that their customers are going to get screwed.
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January 08, 2015, 08:41:44 AM
 #445


Added. It ended up scoring 'only' 4 points, despite there not being a shred of evidence they own any hashrate. OTOH, its a fairly small IPO and cryptsy has more to lose than to gain by robbing customers over 140TH. That is, if you trust cryptsy. One important thing to note is that they give no information on fee structure, so its anyone's guess how much they will pay out going forward.

scrypt.cc was added too, scoring a solid 6 ponzi score. Their domain registration info is not hidden, but also impossible for me to verify (street view shows what appears to be a garden), there is no company registration info, so I rated them as if anonymous.
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January 08, 2015, 11:55:06 AM
 #446


Added. It ended up scoring 'only' 4 points, despite there not being a shred of evidence they own any hashrate. OTOH, its a fairly small IPO and cryptsy has more to lose than to gain by robbing customers over 140TH. That is, if you trust cryptsy. One important thing to note is that they give no information on fee structure, so its anyone's guess how much they will pay out going forward.

scrypt.cc was added too, scoring a solid 6 ponzi score. Their domain registration info is not hidden, but also impossible for me to verify (street view shows what appears to be a garden), there is no company registration info, so I rated them as if anonymous.

Thnaks for scrypt.cc work
it looks a ponzi
i decided not to join them
thanks again Smiley

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January 08, 2015, 08:41:32 PM
 #447

on my zoomhash.com account I have zero income for the past 2 weeks. And the hash power is sold out for few months now!!

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January 08, 2015, 08:47:53 PM
 #448

AFAIK Zoomhash are not paying out for the same reason cryptx and cex.io are not paying out: mining revenue < fees.
While Ive not rated them, from what Ive seen they appear to be honoring their contracts. Dont blame them for not reading/understanding what you bought.
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January 08, 2015, 10:09:40 PM
 #449


Added. It ended up scoring 'only' 4 points, despite there not being a shred of evidence they own any hashrate. OTOH, its a fairly small IPO and cryptsy has more to lose than to gain by robbing customers over 140TH. That is, if you trust cryptsy. One important thing to note is that they give no information on fee structure, so its anyone's guess how much they will pay out going forward.


I think Cryptsy was just testing the market with the MN1 and MN2 contracts. I remember the initial price (set by Cryptsy) for MN1 was much higher than on other sites, but they've sold all the shares pretty fast.
Then they started selling MN2 (also high priced) but those weren't moving too quickly. The payout rate was very regular (every day) and strangely high, comparing to competition.
Not too long after they sold all the shares the payouts started to noticeably decrease, there were some delays etc.

I had a strong impression that they were intentionally paying too much to give false ROI hopes and push all the shares, but that's just my gut feeling.

Anyhow, in Sep they announced their new, large scale mining operation (Mintsy) but think the project is abandoned, last update on 2nd Oct.
https://bitcointalk.org/index.php?topic=786673

http://mintsy.co/#features
shine on you crazy dmnd
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January 09, 2015, 02:15:31 PM
 #450


I had a strong impression that they were intentionally paying too much to give false ROI hopes and push all the shares, but that's just my gut feeling.

I think your gut feeling is spot on. The MN contracts were introduced in April, 2014 (to great fanfare), and the payouts were pretty regular, aside from a missed day here and there. Everything was copacetic...then things abruptly started going south around mid-Sept. Payments would be "missed" every couple of days, then every other day, then several days in a row. People started getting pissed, so BigVern converted all MN1 & MN2 shares to "MN", and even purchased an extra 20TH "out of his own pocket" to placate the masses. Such a generous fellow.

So, TLDR, it's just another ponzi.
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January 09, 2015, 11:12:15 PM
 #451

I think too few ponzis collapsed in recent weeks. I was hoping to to see double digits. Which means there must be still a few more to come or if they survived they would gain more credibility...


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BombaUcigasa
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January 09, 2015, 11:54:43 PM
 #452

I think too few ponzis collapsed in recent weeks. I was hoping to to see double digits. Which means there must be still a few more to come or if they survived they would gain more credibility...

Most of the collapsed ones were betting on the difficulty ramping up fast so they can pay out less. Since it stalled a bit, they got shaken out.

Now the remaining ponzies might have employed two different strategies:
- sell the investments for fiat and buy back as needed
- promote more aggressively and attract the obviously eager marketplace to invest more and keep the schemes going
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January 10, 2015, 12:03:35 AM
 #453

I think too few ponzis collapsed in recent weeks. I was hoping to to see double digits. Which means there must be still a few more to come or if they survived they would gain more credibility...

Most of the collapsed ones were betting on the difficulty ramping up fast so they can pay out less. Since it stalled a bit, they got shaken out.

Now the remaining ponzies might have employed two different strategies:
- sell the investments for fiat and buy back as needed
- promote more aggressively and attract the obviously eager marketplace to invest more and keep the schemes going

I think option two is the most logical. Option one is not a plausible theory, I do not think they predicted slower diff dynamics and probably have spent BTC on hookers and blow in Vegas.

On this tune we confirm we will be offering option to buy GH/s for EUR Cheesy Soon!


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January 10, 2015, 02:18:36 AM
 #454

On this tune we confirm we will be offering option to buy GH/s for EUR Cheesy Soon!

Do they take Euros in Vegas now? I'm learning new things in this forum every day  Shocked

GAWSOME class action
(Homero Garza throws Stuart Fraser under the bus)
ION: XPY successor
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alevlaslo
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January 10, 2015, 05:00:59 PM
 #455

On the Hashnest problems with withdrawal today
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January 10, 2015, 05:05:59 PM
 #456

On the Hashnest problems with withdrawal today

https://bitcointalk.org/index.php?topic=766448.msg10104903#msg10104903

Cloud Mining? Just Go to Hashnest.com          Best Liquidity   Lowest Price   100% Real Mining Back Up
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January 10, 2015, 06:22:38 PM
 #457

Buying bitcoin is just all around an easier and more profitable option than mining

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Dilemma
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January 10, 2015, 07:03:12 PM
 #458

i waiting your scyript.cc report
then maybe i will join there
if it can be beetwen 0/8 and 2/8 Smiley

No need to wait, you can assess them yourself. Just look for their  business registration, mining addresses, pictures of their datacenter, find asic endorsement etc. Can you find them? I cant either so its not likely going to be a 0 or even 2.

Thanks for your command
İ m new for cloud mining
So your command is usefull for me

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January 10, 2015, 08:45:12 PM
 #459

Buying bitcoin is just all around an easier and more profitable option than mining

Depends on when you bought it though, if you purchased this year, you lost money... if you purchased some in 2010, then you made a sweet deal.  I think if you were getting in crypto today and wanted to see huge gains, you need to invest in a good alternative coin as well. I'm not suggesting dumping bitcoin, but having another a few coins wouldn't hurt. I think Ripple, Stellar, Storj.io, and Clams are undervalued. This year, I've already made 160% on clams alone.

Anyway, I think the serious ponzi problem is cryptodouble right now, they're all over the forums and eating tons of coins. When they implode, it's going to be bad for the community... if you believe the amount of coins they show they have in their wallets, they have in some cases 10% or more of some of the crypto in circulation.



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ATCkit
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January 10, 2015, 09:01:07 PM
 #460

Hello everyone!

Being scammed feels horrible and I hate myself for being fooled by some assholes. That's why I want to find them. All I want right now is to find them at any cost. I even willing to give a small reward in btc, if someone finds a lot of info about them. I know it is really hard for getting my money back or even finding them. But I don't want to let this go. I am quite sure that there are quite a few people in the same place as I am, who might want to participate in the chase or in increasing the reward.

I should have suspected the fact he hasn't posted any pictures of his farm even if he said he would, the fact that paypal canceled his subscription, the fact that he is not even using a btc processor like BitPay etc, the fact that he offers a 8% discount for those who pay in btc, when it is actually the only way to pay him, 49% discount to turn your profits in shares, ROI 2-3 months, no Blockchain verification (at least I don't know if he is verified), no public mining addresses and his Whois address http://whois.domaintools.com/ltcgear.com . If anyone is able to track them, by any means please do it and I will reward you. However I didn't do any research before I went straight into the catch. 3 People that I knew, mentioned the good ROI and the fact that they were satisfied + the fact that they weren't constantly 'selling' shares made me think that they are legit.

I want to gather enough information about Chris. Even if people think that he will return, we could still gather as much information as we can and also create a plan in case he takes our money and runs away. This call is for people that send him money through PayPal, for people who traded physical miners with him and especially those who send their stuff back to him, for people who have talked with him over the phone, VoIP or have any social network account. For them who have received referral payments. People who have send him Btc and he still hasn't withdrawn them from the deposit addresses. People that know any possible mining addresses.

A guy found some info on various forums:

https://hashtalk.org/topic/24470/current-state-of-ltcgear-payouts-and-more/998

"Chris (beekeeper) isn't really anonymous anymore, I dredged this up from various forums.
BitCage Tech appears to be his company in Romania.

Bitcage Tech (official registered company name?): http://ltcgear.itrademarket.com/profile/bitcage-tech.htm

Bitcage Tech fundamentals, some sort of Romanian companies listing: http://www.romanian-companies.eu/bitcage-tech-srl-31906463/"


If you are going to get into legal action, I would link up with the guys in this post ( as I plan to do if LTCGear does actually collapse):

https://litecointalk.org/index.php?topic=22563.msg242972#msg242972

EDIT: Just found out that beekeeper(Chris) has replied to one of the litecointalk mods. Here's what's he understood from the conversation:

https://litecointalk.org/index.php?topic=24209.0
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