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

[julian071]

Well, when you have a marketplace that is devoid of all regulation and law enforcement  then morale and confidence soon goes out the window for the simple reason that the playing field isn´t level for the players. Scammers, which have free play in such an insane environment have unfair advantage in the market for reasons that should be clear to most people.

The true libertarians don't find that unfair. To them, the people that get scammed have only themselves to blame. This is a result of their atomic view of people, where everyone is really isolated from everyone else, most notably in the realm of ethics and morals. That sentiment resounds in this thread too.

You can read about how the world would look if the libertarians took over in a book that is very popular in America, Atlas Shrugged by Ayn Rand. To me, a sociopathic dystopia, to most libertarians a bible.

http://en.wikipedia.org/wiki/Atlas_Shrugged

[galdur]

Like I said, talk to the wall. These people would never ever associate zero buying interest in bitcoin and constantly tanking price with cratering confidence and trust due to their bankrupt ideology. These morons really believe that a total lack of any regulation and law enforcement attracts the broad public to a marketplace.

[Tigggger]

Someone mentioned this one to me, it actually made me laugh

http://www.minerking.com/

Sadly 100PH for $59 is out of stock

You can still buy



At least they are honest enough to show you will get $0 back

[peligro]

GAWminers collapsed.

Finally!

This is the gold standard for mining ponzis. You have got to respect them the way they managed to keep continuing for so long and then provided the grand finish with Paycoin.

[kingbruce]

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

[Mabsark]

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

If you have anything legitimate to say, then why not just say it instead of dicking around.

[julian071]

VERY long blogpost of the CEO of Megamine about Cloudmining. Has some interesting points on how to distinguish between legitemate and non-legitemate companies. Puppet's list is way better but some interesting points none the less!

http://www.megamine.com/cloudhashingdoomed.php

Megamine is somewhat overlooked. They used to only offer fully inclusive packages, now also pay-as-you-go (with fees).

[acquafredda]

Puppet needs more than thanks...

[mayax]

cloud mining is doomed.

[Sine(X)]

Does somebody use BW Pool?
https://www.bw.com

By organofcorti they have 20Phs+
http://organofcorti.blogspot.ru/2015/02/february-1st-2015-block-maker-statistics.html

[MrTeal]

Does somebody use BW Pool?
https://www.bw.com

By organofcorti they have 20Phs+
http://organofcorti.blogspot.ru/2015/02/february-1st-2015-block-maker-statistics.html

Are they selling cloud mining? Their English site is a bit of a mess, but it seems like "The B Plan" might be some kind of cloud mining.

[Muhammed Zakir]

Are they selling cloud mining? Their English site is a bit of a mess, but it seems like "The B Plan" might be some kind of cloud mining.

Yes, they do! And you are right, B Plan is cloud mining. There are 3 types: B1-1, B9-1 & B9-2.

Using Google translator:

1.47 PH/S...
Each B1 expected earnings yesterday: 0.016BTC- (1.05 × 0.5 × 24 hours yuan / kwh)/1396.000 yuan /BTC=0.007BTC, equivalent to 6.47 months left back this cycle.
One planned total output of the current currency : 1120.13910693BTC
Summary:
The total output of one program yesterday's coins : 15.54174BTC
Yesterday Net: 7.64674BTC
Yesterday electricity accounting : 22451.560 degree
Current electricity: 0.5 yuan / kWh

1.21 PH/S...
Each B9 expected earnings yesterday: 0.108BTC- (8.3 × 0.5 × 24 hours yuan / kwh)/1416.70 yuan /BTC×0.85=0.032BTC, equivalent to 7.26 months left back this cycle
The total output of the current currency Jiu plan : 617.379BTC
Summary:
Nine plans yesterday coins total output : 14.159BTC
Yesterday net : 5.019BTC
Yesterday electricity accounting : 25896 degrees
Current electricity: 0.5 yuan / kWh

2.93 PH/S...
Each B9 expected earnings yesterday: 0.107BTC- (8.3 × 0.5 × 24 hours 千瓦时 yuan / kwh)/1415.33 yuan /BTC×0.85=0.031BTC, equivalent to 8.60 months left back this cycle
The total output of the current currency Jiu plan : 812.865BTC
Summary:
Nine plans yesterday coins total output : 34.809BTC
Yesterday net : 11.938BTC
Yesterday electricity accounting: 64740 degrees
Current electricity: 0.5 yuan / kWh

Once again, this was translated using Google Translator, so the translated words may not be accurate. However, you can get an estimate details. The only thing I like about them is they display the electricity details(no matter whether it is correct or not). Anybody saw any other news about this cloud mining(atleast what they claim)?

P.S. In Hashrate Bank, they have mentioned some sort of interest in both BTC and LTC.

Edit : They actually mine and they already found 69 blocks. Reference: https://www.blocktrail.com/BTC/pool/bwpool.

   -MZ

[icanscript]

I think this is a great thread and should be stickied to help new users determine who are running a ponzi scheme,

Thanks Puppet.

[PeaMine]

I agree, great service to the community Puppet

[pajaperc]

hey puppet!

i just wanna say thank you very much and that i truly appreciate your excellent work here.

please don't get tired of putting in great effort in this.

i believe that your thread here has been a pivotal factor regarding decision making for those who have invested in cloud mining recently.

there are a great number of people who are not active in the forum and are just constantly reading to get themselves updated (like me).

:-)

[dr1980m]

They are a lot of bad news about Cointellect
maybe it was collaps too..

[suman66]

They are a lot of bad news about Cointellect
maybe it was collaps too..

its very bad news then for all investors of this mining site

[Sine(X)]

Are they selling cloud mining? Their English site is a bit of a mess, but it seems like "The B Plan" might be some kind of cloud mining.

Yes, they do! And you are right, B Plan is cloud mining. There are 3 types: B1-1, B9-1 & B9-2.

Using Google translator:

1.47 PH/S...
Each B1 expected earnings yesterday: 0.016BTC- (1.05 × 0.5 × 24 hours yuan / kwh)/1396.000 yuan /BTC=0.007BTC, equivalent to 6.47 months left back this cycle.
One planned total output of the current currency : 1120.13910693BTC
Summary:
The total output of one program yesterday's coins : 15.54174BTC
Yesterday Net: 7.64674BTC
Yesterday electricity accounting : 22451.560 degree
Current electricity: 0.5 yuan / kWh

1.21 PH/S...
Each B9 expected earnings yesterday: 0.108BTC- (8.3 × 0.5 × 24 hours yuan / kwh)/1416.70 yuan /BTC×0.85=0.032BTC, equivalent to 7.26 months left back this cycle
The total output of the current currency Jiu plan : 617.379BTC
Summary:
Nine plans yesterday coins total output : 14.159BTC
Yesterday net : 5.019BTC
Yesterday electricity accounting : 25896 degrees
Current electricity: 0.5 yuan / kWh

2.93 PH/S...
Each B9 expected earnings yesterday: 0.107BTC- (8.3 × 0.5 × 24 hours 千瓦时 yuan / kwh)/1415.33 yuan /BTC×0.85=0.031BTC, equivalent to 8.60 months left back this cycle
The total output of the current currency Jiu plan : 812.865BTC
Summary:
Nine plans yesterday coins total output : 34.809BTC
Yesterday net : 11.938BTC
Yesterday electricity accounting: 64740 degrees
Current electricity: 0.5 yuan / kWh

Once again, this was translated using Google Translator, so the translated words may not be accurate. However, you can get an estimate details. The only thing I like about them is they display the electricity details(no matter whether it is correct or not). Anybody saw any other news about this cloud mining(atleast what they claim)?

P.S. In Hashrate Bank, they have mentioned some sort of interest in both BTC and LTC.

Edit : They actually mine and they already found 69 blocks. Reference: https://www.blocktrail.com/BTC/pool/bwpool.

   -MZ

It's not clear what the price for 1Ghs? And what about 45% in a parameters of B1 mining contract?
Does somebody understand? 

[Muhammed Zakir]

It's not clear what the price for 1Ghs? And what about 45% in a parameters of B1 mining contract?
Does somebody understand?  

To check that I registered and clicked 'Deposit Immediately' assuming an amount will show but they are asking my phone number to verify, without it, I can't proceed. Worst thing is that their mobile verification supports only US, UK, China, Japan and Singapore but I am not from any of these. It would be good if any else can check this, especially if you are a chinese.

Edit: After a little investigation, I think I got it:

Just need to cast 1 coin and you can permanently access a suit of real Bitcoin printing press B1 ，As the past benefits of Bitcoin,only several months be needed to get back the cost,and benefits should only be stopped when less than 0.5yuan/kw.Program One, users and vendors each enjoy 45% of net income after deduction of electricity. 10% of net income users through creating new mining machine, mining machine new revenue still owned by the parties.Program Two, manufacturers get electricity after deducting 45% of net income, after deduction of electricity users to get 55% of net income. It was open and transparent and fair. Introduce friends to buy you can earn high recommendation rewards

Just need to cast 9 coins and you can permanently access a suit of real Bitcoin printing press B9 ，As the past benefits of Bitcoin,only several months be needed to get back the cost,and benefits should only be stopped when less than 0.5yuan/kw,we collect 15% of benefits exclude power charge for equipment maintaining and running,it was open and transparent and fair. Introduce friends to buy you can earn high recommendation rewards（details）。

B9=(Hashrate：9000G/S & consumption：8.3/KW.H & power rate：0.5yuan/KW.H)85%permanent net income
Datas mentioned above are theoretical，real edition should be takes while calculating. And BW.COM ensure that the data is in the deviation of 5%,and we will maintain the whole machine in the 3 months after you buy it.

Please avoid words like 'Bitcoin printing press' as this is translated words, it won't be accurate.

   -MZ

[l3sny]

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

Not true. There are reliable businesses with real hardware and reasonable maintenance costs. Apart form that difficulty is going ups and downs so you can make good margins on trading and mining at the same time. Real hardware and mining at home now really sucks as the electricity costs are now high.