▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁

[skuser]

Hellow,

add new market S4 of Hashnest on this site please http://nextdifficulty.com

Hi, it's my site. I will do it however the S4 market price is brutally high currently because the market is too small...

[1714103734]

1714103734

[1714103734]

1714103734

[Puppet]

Code:

minethatcloud.com  1+2+3+4+5+6+7      => 7/7 = Ponzi 

Thanks, added.
Also moved obsolete services to their own list

[Sine(X)]

Did somebody else stop mining (except CEX)? Hashnest had closed and then opened.

[Puppet]

I didnt know hashnest resumed. Ill check and update that in a second
cryptx dissolved their mine, and I moved gaw to obsolete as they are no longer in (PoW) cloud mining business

[julian071]

Did somebody else stop mining (except CEX)? Hashnest had closed and then opened.

Zeushash anounced they'd stop mining (for their customers), but they have not as of yet. I have a very small amount of hashing there (got it instead of an upgrade board that never materialised) and the payouts are about the same as the maintenance fees. Kinda strange tho, the maintenance fees have risen faster then the BTC prise has sunk. But whatever.

Dear ZeusHash customers,

As Bitcoin price witnessed significant and continuous dropping lately, the daily payouts of GHS will not be able to cover maintenance fees (now at $0.0023 per GHS per day) very soon. As you can see the payouts today have already been eaten up by 98%+ of maintenance fees.

According to our Terms, “in case the daily mining return is lower than the maintenance fee for at least 10 days in a row”, we’ll have to cease the operation of our mining farms and freeze all GHS contracts, which is a forced measure when there’s no mining profitability.

We’d like to warn you not to purchase more GHS as it’s not the best time for investment. And we are working on different plans for your profits when the conditions for freezing GHS contracts are met. The final solution will be released then.

As a dedicated cloud mining platform, ZeusHash will continue its efforts to seek for better solutions to deliver more cost-efficient cloud mining contracts. Negotiations with our partners are going on smoothly and it won’t be long before the new contracts are available.

[ATCkit]

I didnt know hashnest resumed. Ill check and update that in a second
cryptx dissolved their mine, and I moved gaw to obsolete as they are no longer in (PoW) cloud mining business

you can still buy Hashlets. In the hash market in ZenCloud, some of them are pretty cheap now. Some people are even asking GAW for the ability to pay in XPY for their Hashlets.

[Mabsark]

Proof of ponzi for MineThatCloud:

The payments were made from 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3.

0.0087 BTC was sent from 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC to 1JgxteZWCuZLu4FnPUWv3Jxgj89QkFXLvX which sent 0.0087 BTC to 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 which sent 0.0001402 BTC to 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC.

[jimmothy]

Proof of ponzi for MineThatCloud:

The payments were made form 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3.

0.0087 BTC was sent from 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC to 1JgxteZWCuZLu4FnPUWv3Jxgj89QkFXLvX which sent 0.0087 BTC to 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 which sent 0.0001402 BTC to 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC.

More:

1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3 > 0.0087 > 1GSWxmZU3oHiyBA7PhoqE5ZrAN5YHtjbYx > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0002804 > 1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3

1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3 > 0.0087 > 1LTcF4xkch1d5Gb5yTkbGCUsjspHp9KWVp > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0002804 > 1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3

1s3DP7QaqwsRrTEn6UQBd9zPCmmvv6KW3 > 0.0087 > 1DzwbKnTXSJtnW2QXjE5EtV1TSSa5bDfki > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0043462 > 1s3DP7QaqwsRrTEn6UQBd9zPCmmvv6KW3

[whitewhidow]

Proof of ponzi for MineThatCloud:

The payments were made form 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3.

0.0087 BTC was sent from 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC to 1JgxteZWCuZLu4FnPUWv3Jxgj89QkFXLvX which sent 0.0087 BTC to 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 which sent 0.0001402 BTC to 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC.

More:

1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3 > 0.0087 > 1GSWxmZU3oHiyBA7PhoqE5ZrAN5YHtjbYx > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0002804 > 1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3

1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3 > 0.0087 > 1LTcF4xkch1d5Gb5yTkbGCUsjspHp9KWVp > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0002804 > 1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3

1s3DP7QaqwsRrTEn6UQBd9zPCmmvv6KW3 > 0.0087 > 1DzwbKnTXSJtnW2QXjE5EtV1TSSa5bDfki > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0043462 > 1s3DP7QaqwsRrTEn6UQBd9zPCmmvv6KW3

again, how usefull would it be, if there was a site, where from now on, if you typed that adress, you would get a fat red warning, links to this thread, and more ...

[jimmothy]

again, how usefull would it be, if there was a site, where from now on, if you typed that adress, you would get a fat red warning, links to this thread, and more ...

blocktrail.com already sort of does that. (no warnings, but it will link you to all the places the address was mentioned)

[TheIZS]

As I can see here u have listed GAWminer and Genesis-Mining as Probably Legit. Maybe, according to your criteria, they are. But, I'd request to u to check the following threads to get informed about the actual picture.


i. https://bitcointalk.org/index.php?topic=809563.0
ii. https://bitcointalk.org/index.php?topic=875487.0
iii. http://www.reddit.com/r/BitcoinMining/comments/2enhh4/genesisminingcom_is_a_dishonestly_run_business/

I suggest you read the entire line about GAW.  in case you cant scroll horizontally its rated "4/7*= Possibly/partially legit based on criteria set forth. Based on wider context: more suspicious than a nun squatting in a cucumber field".

As for genesis mining; I only see an accusation of shilling or sock puppetry. That sort of behavior wouldnt surprise me one bit from any company on my list. I make no attempt to judge company ethics, the disclaimer defines legit as " All it shows is that said company has provided reasonable evidence it is a real company and your investment is backed by actual hashrate." If you have evidence that undermines that claim for genesis mining, or my rating for it,  Id love to see it.

Yes its very witty Puppet, BUT you still refuse to acknowledge GAW was and still is a ponzi what exactly further evidence do you need? The blatant manipulation if pool rates on ZEN cloud the fact that they stopped mining and the overall hashrate didn't even flinch. If even the whole PAYCOIN/PAYBASE disaster doesn't convince you, what will? Thanks for moving it to the obsolete list, but despite all your good work your denial about GAW really hurts your credibility. 

[Puppet]

Yes its very witty Puppet, BUT you still refuse to acknowledge GAW was and still is a ponzi what exactly further evidence do you need? The blatant manipulation if pool rates on ZEN cloud the fact that they stopped mining and the overall hashrate didn't even flinch. If even the whole PAYCOIN/PAYBASE disaster doesn't convince you, what will?

For the oompth time, the gaw rating is for their cloudmining offer, and mostly SHA at that, as I dont give a satoshi about altcoins.
Yes their paycoin stinks to high heaven, but that doesnt mean Im going to pull numbers out of thin air to change the rating, no more than I change say KnC's rating for the stunts they have pulled off. The points they scored, they earned. And please note that their score is barely better then some confirmed/defunct ponzi's. How you can see that as an endorsement is beyond me.

[Bernik]

Hi guys and hello Puppet. I've just recieved a reply from Cointellect staff. I've asked if they could clarify the legit points that Puppet revealed to detect a scam cloud mining service. Probably this isn't say a lot and doesn't prove much but at least they tryed to
Check yourselves and comment about it.

Hello again,

We understand that you are referring to an online forum post that lists Cointellect as a scam. We understand your concern; however, I can say with confidence that we have no intention of scamming users. We are a legally registered corporation with satisfied users throughout the world.

The "points" mentioned on this anonymous post can easily be rebutted.

1.- Our mining address is already public. You can get the information in the advanced configuration page https://cointellect.com/download/advanced/

2.- We have already provided our partnership with hardware providers in our news page, you can get the information directly at https://cointellect.com/news/view/?id=14

3.- As you alredy know, we have many pictures about our mining hardware available and we even provided a live feed of our mining facility in China. http://dc.cointellect.com/ You can see our Datacenter directly like you were there.

4.- We do not have an open ended IPO, you can find our available hasharate and total processing power available in your Dashboard within a Blue box.

5.- We offer an affiliated program because the commission is discounted from the contract price, it does has a low margin profit for our company, but we can compensate the gains with our service and trade fees.

6.- The names of our Operators are already public.  Our founders are Aleksei Saaremagi and Leonid Ageev. You can also read our About Us, our FAQ for all other pertinent details about our company.

7.- We do not understand the "exit strategy" term. But you are free to withdraw your earnings at any time, although at this time there are a few delays with our instant withdrawals, we never freeze your earnings.

8.- CoIntellect does not guarantee you mining earnings, as it is, due to the volatile nature of digital currencies, users of our service understand that the value of their mining contracts may become worthless any given moment.

I hope this can clarify your doubts, as you can see, their information is not complete and we are always improving our platform. If you want to contact us directly, you can visit us at the Bitcoin Expo 2015 http://bitcoinexpo2015.com/

UPDATE: Interesting video directly from Cointellect Staff (Sonera Corporative OU) https://docs.google.com/file/d/0BwhlByKyFNFXV0VoLWtVbmhoYVE/edit  This video was made under request from one of our member (I speak for our italian Cointellect group) that REALLY went to Tallinn (Estonia) to meet their portuguese PR (Public Relations) and visit their offices. If you're interested on the trip and want the details just ask

[BombaUcigasa]

Hi guys and hello Puppet. I've just recieved a reply from Cointellect staff. I've asked if they could clarify the legit points that Puppet revealed to detect a scam cloud mining service. Probably this isn't say a lot and doesn't prove much but at least they tryed to
Check yourselves and comment about it.

Hello again,

We understand that you are referring to an online forum post that lists Cointellect as a scam. We understand your concern; however, I can say with confidence that we have no intention of scamming users. We are a legally registered corporation with satisfied users throughout the world.

The "points" mentioned on this anonymous post can easily be rebutted.

1.- Our mining address is already public. You can get the information in the advanced configuration page https://cointellect.com/download/advanced/

2.- We have already provided our partnership with hardware providers in our news page, you can get the information directly at https://cointellect.com/news/view/?id=14

3.- As you alredy know, we have many pictures about our mining hardware available and we even provided a live feed of our mining facility in China. http://dc.cointellect.com/ You can see our Datacenter directly like you were there.

4.- We do not have an open ended IPO, you can find our available hasharate and total processing power available in your Dashboard within a Blue box.

5.- We offer an affiliated program because the commission is discounted from the contract price, it does has a low margin profit for our company, but we can compensate the gains with our service and trade fees.

6.- The names of our Operators are already public.  Our founders are Aleksei Saaremagi and Leonid Ageev. You can also read our About Us, our FAQ for all other pertinent details about our company.

7.- We do not understand the "exit strategy" term. But you are free to withdraw your earnings at any time, although at this time there are a few delays with our instant withdrawals, we never freeze your earnings.

8.- CoIntellect does not guarantee you mining earnings, as it is, due to the volatile nature of digital currencies, users of our service understand that the value of their mining contracts may become worthless any given moment.

I hope this can clarify your doubts, as you can see, their information is not complete and we are always improving our platform. If you want to contact us directly, you can visit us at the Bitcoin Expo 2015 http://bitcoinexpo2015.com/

UPDATE: Interesting video directly from Cointellect Staff (Sonera Corporative OU) https://docs.google.com/file/d/0BwhlByKyFNFXV0VoLWtVbmhoYVE/edit  This video was made under request from one of our member (I speak for our italian Cointellect group) that REALLY went to Tallinn (Estonia) to meet their portuguese PR (Public Relations) and visit their offices. If you're interested on the trip and want the details just ask

It seems they do not actually understand the requirements, AT ALL.

1. That is a website address. It's not a "mining" address.

2. Provided != Proved. They are different words.

3. That feed is a video on loop. The lights blink differently for each box and in the same repeating pattern of the same length. Also, since when do Zeus miners have blinking green LEDs?

4. They are still selling contracts, I don't have an account and can't see their reported hashrate and how it is split across clients.

5. 10% compensation from service and trade fees?

6. About us page doesn't list ownership, FAQ is not found? Whoisguard on domain?

7. Yes, you do not understand, it means you can withdraw your principal before the term is up, not only earnings.

8. It kind of does, see homepage. Also at best you can get at most 9 EUR a day with 300Mh/s (renting mining income only). How do they advertise 97 EUR?

[Tigggger]

Just took a quick look at that conintellect site, they claim 300MH earns 97.22 euros a day ~ $112 mining scrypt when the reality is about $9

The bulls**t is strong in that one.

[BombaUcigasa]

If someone wants 5Mh/s for 10 days, it costs 1.5 EUR and not 14.95 EUR...

https://www.nicehash.com/index.jsp?p=stats

[suchmoon]

You know what is a good indicator of a scam/ponzi? Visit hashtalk.org, anything they're excited about is most likely a scam. Gullibility runs deep there. LTC Gear, Cointellect, PB Mining, Hashie, etc were all considered good diversification options for Hashlets 

Some guy there is even trying to start a class action against Cryptodouble. https://hashtalk.org/topic/29033

I mean WHAT THE FUCK DID YOU EXPECT putting money into something that DOUBLES it every 100 hours?

[Mabsark]

I've just found a link between cloudminr.io and 1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL, an address that ended up with the cryptominer.io coins.

The cloudminr.io payout address is 1CMR18ds3W4tz3MceN7wkm4NsaFW9jxvk9 which sent 0.0189623 BTC on 2014-11-09 21:47:42 to 163hR6atXKv8cbUhjaBkmjuaGHndQWg9kh.

163hR6atXKv8cbUhjaBkmjuaGHndQWg9kh, along with 1PfSp72cYBTkqohUFpdQMJu4eoCifoxgxf and 1FkGxvpBbyTvuww41NTBzL1BiU7TPEfD6C then sent 0.07799983 BTC to 1Hy1RGG1oCJxV94wqEMdzyCtMXiyGh3naX. There are 5 other payments to this address:

1DpAd8DCNLwEGiZ1CWxmBHgrGHiVyxD77g (0.00319328 BTC)
18mmSJc4XnbFFdLiXTWYdhKFbKBQwCQAT2 (0.3225915 BTC)
19PXbU796NtUkQf858mSbPhhYSKkfkfjPC (0.01322624 BTC)
1LaixAQEGfVzgesmyMnja8KRo79LPndMEf (0.17698 BTC)
1Lb2FnMpRsmVZwdV1rGt1ysXyQ2aeBjbKk (0.0489 BTC)

18mmSJc4XnbFFdLiXTWYdhKFbKBQwCQAT2 made 2 payments to 1CMR18ds3W4tz3MceN7wkm4NsaFW9jxvk9 as well.

1DpAd8DCNLwEGiZ1CWxmBHgrGHiVyxD77g sent 0.23 BTC to 1DpqdziWjddCkYdZG8G8RCugg5FwBXdeEu - the address of the cloudminr.io signature campaign.

19PXbU796NtUkQf858mSbPhhYSKkfkfjPC also makes a payment to the signature campaign address - 1DpqdziWjddCkYdZG8G8RCugg5FwBXdeEu

The address 1Hy1RGG1oCJxV94wqEMdzyCtMXiyGh3naX therefore belongs to cloudminr.io too. This address makes a single payment to 1BNFnhxnS6YMs4zeXg33ex5xb9eew8zJsv which makes a single payment to 16KQFWL71JTYWuarPojB6UXNdHXGZKjG4k for 3.08677474 BTC along with the following addresses:

13kRuLmSS32KD6hWLUEN7BEqusd5PQcrV1 (1.64419489 BTC)
16Av35JeCFDZ2fygo5YjT3uAHTyXDWwYcC (0.75072814 BTC)
1Foq1LujmikEbczo2D2bG4vwVKVEwV6weP (0.04966086 BTC)
1BNFnhxnS6YMs4zeXg33ex5xb9eew8zJsv (0.64229085 BTC)

16KQFWL71JTYWuarPojB6UXNdHXGZKjG4k then makes a payment to 1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL for 57.23446175 BTC along with the following addresses:

1HxusKvKnmxYVdzAcvqNmZZFMoSUZcbyjZ (0.0071717 BTC)
1PXwGwaHuv1jTLkHCeR8W2R4Q39t6VsNVJ (0.1 BTC)
1NHYRcEZPKCAdBvgAtCd89WYqddnJJWixD (0.0775821 BTC)
1NACi4cLCsVWJC4wPFzvgDg51epKjPTXia (0.05217515 BTC)
13t3zKJwwwYSdJofk85jHVyZqGem1xckbb (0.11 BTC)
1B5pTgCgAUvB2DiadwgNBXz9Mz8JAXPzT9 (25.0001 BTC)
1Nmbf1ondFqNyZrw9ePA2qPaBSdwYemhF7 (0.5 BTC)
1PENKaJmMZLueG1wxr62ScZCcXcA2qxZJ1 (7.9998 BTC)
13kcgWk6CvVogQrZWMmZPdJALJHWwrBxAn (0.03474557 BTC)
16KQFWL71JTYWuarPojB6UXNdHXGZKjG4k (4.78738909 BTC)
1Kzo7qPNctCpn6EZ7SNaJZ5jT339Wn3XkB (15 BTC)
14BZcLdXx8573n3UmEYNu3TPa84jmHQiyY (0.4787234 BTC)
16KQFWL71JTYWuarPojB6UXNdHXGZKjG4k (3.08677474 BTC)

1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL is mentioned as being involved in lots of scams, for example:

https://bitcointalk.org/index.php?topic=744692.msg9324935#msg9324935
https://bitcointalk.org/index.php?topic=791367.msg9086516#msg9086516
http://www.reddit.com/r/Bitcoin/comments/2hv0jd/i_think_someone_just_tried_to_steal_my_coins_but/
https://bitcointalk.org/index.php?topic=807034.msg9761385#msg9761385
https://bitcointalk.org/index.php?topic=915627.0
https://bitcointalk.org/index.php?topic=832448.msg10142009#msg10142009
https://bitcointalk.org/index.php?topic=900132.msg10135731#msg10135731

So given that coins stolen by so many scams end up at that address, why are your coins being sent there and what is it?

[MrTeal]

So given that coins stolen by so many scams end up at that address, why are your coins being sent there and what is it?

It's BTC-e.

[Mabsark]

So given that coins stolen by so many scams end up at that address, why are your coins being sent there and what is it?

It's BTC-e.

Do they just have one address for everyone or is that a specific users address?