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

[Syke]

but i advise others not to trust your rating cause u get scammed like me...

You misunderstand the point of this thread. This is not a general risk assessment thread. It is simply 7 red flags. If you see these red flags, then the operation is likely a scam.

If you don't see these red flags, it tells you nothing about whether they are a scam or not.

This is the part you seem to misunderstand, so I'll repeat it. Make sure you understand it.

If you don't see these red flags, it tells you nothing about whether they are a scam or not.

[1714140547]

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[flyingplows]

but i advise others not to trust your rating cause u get scammed like me...

You misunderstand the point of this thread. This is not a general risk assessment thread. It is simply 7 red flags. If you see these red flags, then the operation is likely a scam.

If you don't see these red flags, it tells you nothing about whether they are a scam or not.

This is the part you seem to misunderstand, so I'll repeat it. Make sure you understand it.

If you don't see these red flags, it tells you nothing about whether they are a scam or not.

i understand that and my point was that in my opinion these flags were absolutely misplaced and amhash should score 6.5. why they were misplaced that is the second question... but...
sorry to disturb you sirs, thanks for polite discussion, i wont post anymore here about this, go on with your agenda, just wanted to see what would be the resistance to a different opinion here  

[elasticband]

Do people not know the definition s of ponzi and scam?

[Muhammed Zakir]

Do people not know the definition s of ponzi and scam?

They know but because of their greediness, their resistance power is so low. Investors keep promoting it to keep the ponzi running as long as it can. Else they will loose their money. They are deliberately avoiding the truth "PONZI = SCAM"!!!

   -MZ

[armedmilitia]

Multimine just collapsed. It wasn't listed here, must be one of the shortest lived ponzis I've seen in a while.

Official thread:
https://bitcointalk.org/index.php?topic=971306.0;topicseen

Also, speaking of mining ponzis...
Here's a hilariously "not a shill" reddit thread I ran into a few days ago:

https://www.reddit.com/r/BitcoinMining/comments/2ya3ka/this_cloud_mining_website_has_actually_made_me/

[TheIZS]

p.s. puppet, before i log off i must say that i forgive you... since it was just a start for me it was not a big sum, but i advise others not to trust your rating cause u get scammed like me...
p.s.2. stay tunned for my own thread: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi/scam risk evaluators shills assessment) ▆ ▅ ▄ ▂ ▁ ) 
p.s.3. fuck you too and of course your acc clones too  

You forget this isn't about helping people, its about puppet being the all knowing guru. If you have been paying attention the "puppet system" is about a 50/50 for being reliable. Not bad, but then neither is blackjack. Then there is the issue of not actually admitting a miss RE: GAW which we all now know was a ponzi before GAW even existed. You proudly proclaim the founder of BCCS a "known sscammer" but never mention Garbozo's shady dealings on Ebay.

[Sine(X)]

Hypothesis

Fact 1: AM disappeared
Fact 2: Network hashrate didn't drop
Fact 3: New Chinese player - BW Pool ~40Phs

What do we know about BW Pool? Nothing.
What do we know about AM now? Nothing.

I suppose it's not a coincidence, FC is a part of BW Pool. It's scam, nothing personal.

[Puppet]

Seems unlikely. AM had ~5PH. BW is operating ~100PH (they host antpool too). Who would jeopardize a venture this large by including 5% worth of stolen hardware?

[Sine(X)]

Seems unlikely. AM had ~5PH. BW is operating ~100PH (they host antpool too). Who would jeopardize a venture this large by including 5% worth of stolen hardware?

I thought AM is more then 5Phs, AMHash in only 5Phs..
BW is 100Phs? Really? Who are they? They have an original cloud mining service, but I'm afraid they are also scam (though it's clear they have true mining). Do you plan to include them into your list?

[Puppet]

I thought AM is more then 5Phs, AMHash in only 5Phs..

It might have been a bit more at some stage, but it was probably even less than 5PH before it went down, as some smaller datacenter was reportedly unplugged due to too high costs. It was in that ballpark however, no where near 100.

BW is 100Phs? Really? Who are they? They have an original cloud mining service, but I'm afraid they are also scam (though it's clear they have true mining). Do you plan to include them into your list?

Ive been reluctant to add anything to the list for some time, as the main purpose of the OP is not the list but the criteria themselves and the logic behind it. The list started as illustration and now I see its become the focus, and it shouldnt be. People should make their own assessment and the criteria are there to help them filter out obvious ponzi's. I also dont want it to be abused as free advertising for fresh ponzi's, Ive noticed some cloudmining scams actually like being listed even if they score 7/7 on the ponzi scale, just because it gives them exposure to the ponzi gamblers.

As for BW;  I dont speak enough Chinese/chinglese to make a full assessment, but at first glance, it would probably score fairly well on my criteria, its clearly not an obvious scam, but neither was AMhash. So whether that means you ought to trust them is something I cant help you with and you know how I feel about (cloud)mining in general..

[acquafredda]

this has been one of the most important thread so far.
I don't understand what people complain about.
There's no guarantee whatsoever in this world and if you still buy cloudmining related things prepare to burn.

Use your heads!

 

[Hazir]

Hey guys, your are far better at judging whether something is ponzi/scam or a regular cloud mining severice. I just read this thread in bitcoin discussion
https://bitcointalk.org/index.php?topic=989670.msg10768529#msg10768529 And I want to ask you what do you think of it? It is legit announcement or another dubious cloud mining service is just popping out?

[cyberpinoy]

Hello Puppet, your services are required by someone on the forum https://bitcointalk.org/index.php?topic=989670.0 I invite you to investigate my cloud business and I will also send you my skype so you an do a complete evaluation of me and my company.

[picolo]

Hello Puppet, your services are required by someone on the forum https://bitcointalk.org/index.php?topic=989670.0 I invite you to investigate my cloud business and I will also send you my skype so you an do a complete evaluation of me and my company.

A Senior Member that creates a cloud mining company and asks to be audited is very positive. It will be interesting to see the audit by Puppet !

[l3sny]

Be careful. At the end of the day Puppet will disclose to the public whatever he gets as a privileged information to compromise you as he tried with kryptologika.com.

[cyberpinoy]

Be careful. At the end of the day Puppet will disclose to the public whatever he gets as a privileged information to compromise you as he tried with kryptologika.com.

Hmm that seems unusual because in his reply to me he declined a skype call to make an educated decision added wiht the other info he finds but he said

"However, I have always maintained a "no privileged info" policy, I do not base my assessments on anything other than publicly verifiable information, so that anyone can double check my assessments without having to trust me or my judgement."

I am n ot sure how you can make a rating system people depend on if you arent even willing to skype to get some answers, especially in my case where my cloud business does not have the use or need for hardware nor promotes its use.

To be quite honest if you scroll thru this thread actually you will see I neither agree with his system nor like his biased info, but to appease my potential customers I wanted to see where we ranked. It will be hard for him as we do not do hardware mining its a new business no one has ever tried and so far has outstanding results for our clients. In less than a week I have watched as their daily earnings have increased 25% and the compounded interest earning on thier overall profit on investment have increased 5%.

Because of this I am very proud of the project we put together, i am happy with the coins we chose after all the extensive tests we went thru.

[Syke]

Hey guys, your are far better at judging whether something is ponzi/scam or a regular cloud mining severice. I just read this thread in bitcoin discussion
https://bitcointalk.org/index.php?topic=989670.msg10768529#msg10768529 And I want to ask you what do you think of it? It is legit announcement or another dubious cloud mining service is just popping out?

Let's see what they say...

We do not use mining hardware in our business because its not needed

A "mining" solution where there is no actual "mining" going on. Not so much a ponzi. More like a HYIP.

[Superhitech]

Hey guys, your are far better at judging whether something is ponzi/scam or a regular cloud mining severice. I just read this thread in bitcoin discussion
https://bitcointalk.org/index.php?topic=989670.msg10768529#msg10768529 And I want to ask you what do you think of it? It is legit announcement or another dubious cloud mining service is just popping out?

Let's see what they say...

We do not use mining hardware in our business because its not needed

A "mining" solution where there is no actual "mining" going on. Not so much a ponzi. More like a HYIP.

Also, Gleb Gamow has posted a convincing scam accusation against them:

https://bitcointalk.org/index.php?topic=990219.0

[Puppet]

Be careful. At the end of the day Puppet will disclose to the public whatever he gets as a privileged information to compromise you as he tried with kryptologika.com.

Hmm that seems unusual because in his reply to me he declined a skype call to make an educated decision added wiht the other info he finds but he said 

Its not because Im given privileged information (unasked) that I use that info for my assessment. I was told and given evidence kryptologika owned AMhash shares, but the scoring didnt reflect that, it still scored bad points for proving hashrate ownership, because the information wasnt public. Of course it became a different story once I knew kryptologika no longer had access to the hashrate it owned, and declined to share that info with its customer because 'they need not know'.

A "mining" solution where there is no actual "mining" going on. Not so much a ponzi. More like a HYIP.

Exactly. It therefore has no place in this list, but if you want my personal 2 cents: stay away. The whole scheme seems predicated on pump and dump coins.

[cyberpinoy]

Hey guys, your are far better at judging whether something is ponzi/scam or a regular cloud mining severice. I just read this thread in bitcoin discussion
https://bitcointalk.org/index.php?topic=989670.msg10768529#msg10768529 And I want to ask you what do you think of it? It is legit announcement or another dubious cloud mining service is just popping out?

Let's see what they say...

We do not use mining hardware in our business because its not needed

A "mining" solution where there is no actual "mining" going on. Not so much a ponzi. More like a HYIP.

Also, Gleb Gamow has posted a convincing scam accusation against them:

https://bitcointalk.org/index.php?topic=990219.0

First I should say after an extensive days of literal crap from Mr Gleb ....

Okay you win! Please accept my humble apology. I was just trying to see how far I could I push you. You past the test and I honestly believe in my heart of hearts that ShareMiners is legit.

I will close this thread and ask the mods to delete it after your last reply.

Later, bud.

Bruno Kucinskas

Ok now this thread:

There is Mining going on its called POS mining (Proof of stake). Our www.stakeminers.com/how.php shows you how combining staking power increases your staking weight on the network, and this results in more frequent stakes with higher rewards per stake. it works like regular mining and your connection to the network as a server enables you to confirm the transactions and help secure the network.

Because an operation of this size could fill a wallet up quickly we have to use more than one coin, we don't want to dominate a network because then your own blocks inside your wallet are fighting each other for a reward. So we have started with a few coins. Because a business like this could literally be forced to buy coins on a daily basis it also secures your investment because we make a lot of buys on the markets which helps to increase the value of the coins and help to make those increases more steady. This all  helps to increase the value of our investors original investments as well.

When putting this project together we first started looking into hardware POW mining, but then decided we wanted a way that we could offer a service that did not have maintenance fees or huge financial consumption in hardware. Situations like that can effect our investors income in a negative way and are things we can not control. As we researched we came across the benefits of POS coins so we began testing. As we tested more and more coins and their staking abilities, we found just the right few to start out with. Each coin does staking a little differently when it comes to the rewards you receive, but all of them have the same basic mechanics, you hold more coins you raise your staking weight on the network. Some coins you have to manually split blocks inside the wallet others do it automatically. So our business is not without work, we still have to manually split blocks sometimes in the wallets so our investors get the maximum income on their staking.

We then looked at the problems investors face with other cloud mining options, and the worst one we saw was the dreaded "I'm Sorry our service is under a DDOS attack" and we all know where that ends up. So to avoid this we do not host the wallets online at all, they are hosted in the office on computers where we can watch them, completely separate from the webserver. SO if one does hack and attack the website, our investors have a layer of security knowing their investment is not near the attackers. Altho this creates a lkot of manual data entry on our end, it still allows us to keep our members investments as safe as we can keep them away form online attacks against the site.

we really have spent a lot of time researching this project and it has actually proven better than we originally expected. the increases in earnings are moving faster than we tested right now, and the compound interest is moving very steadily as well.

EDIT:  I will like to say we do have mining hardware mining the POW sections of the coins we use, but this is to help pay for the overhead costs of the business as well as add extra coins to the wallets of our members. By doing this we pay the bills and at the same time have a little left over to add to the staking weight of our clients. It is a win win for both of us in the end. We do not rent this equipment out, we do not sell contracts for it, it is only used to back our investors up and pay the bills nothing more.