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

[Syke]

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.

POS mining also can show proof of mining. Where is your proof that you are POS mining?

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[cyberpinoy]

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.

POS mining also can show proof of mining. Where is your proof that you are POS mining?

This image actually shows a few things, it shows yes we are staking in a wallet , yes we are also depositing to the wallet and NO we are not withdrawing from the wallet.

It also shows the increased staking amounts as we mine and deposit as well

Edit: LOL and if you look really close on the top left you can see cgminer running in the background as well LOL I didnt crop the image all the way on the left sorry.

[Gleb Gamow]

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.

Cloudmining 101 (ponzi risk assessment) ALERT!: https://bitcointalk.org/index.php?topic=990219.msg10784449#msg10784449

You thought Day #1 was bad! Wait till Leroy Fodor gets a load of Day #2. 

[cyberpinoy]

Gleb you are a useless liar, the thrill is over bro I will not appease you any longer, I have disproven you on 99.9 percent of your accusations, all you are doing now is breaking the law, you have no proof of any kind to back up your claims, At least puppet has a real system(I may not like it but its a real system) Be happy I am not in the states or I would sue you for defamation of character, slander, invasion of privacy and any other law my lawyer can rack up against you.

I will not waste anymore time with you it was fun because I kept feeding you, I hope you had fun digging in my life a person with real problems,

PUPPET this is why no one in crypto has anything available, he is why people whois guard everything, and no addresses or phone numbers, idiots like gleb, he never once proved anything negative about me except I changed my twitter months ago then changed it again last week. I tried to met you fucking standards and look what it got  a days full of crap from a retired Moron who just wants attention and read my life and my business partners life like a soap opera. hes never proven I am a scam or I have done anything illegal or wrong against anyone, but this is what i get fdor abiding by what people wanted, by being opened to who I am and what I am doing.

[l3sny]

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'.

But it is the decision of the management whether to disclose it or not. Your "info" very well could have caused panic among the customers of our platform. I told you it is a quite a minor thing as we had means to buy back the missing hashrate (which at the time of the disclosure was less than 5TH\s. Your behaviour Puppet is a shame. CUstomers need to know that you are spreading disinformation based on your personal prejudice towards kryptologika. Very well this may happen to another business.
Fortunately We have quite strong client base growing every week. And your "revelations" already have been commented on our main thread so sorry but your FUD did not work.

I will be reminding of this situation from time to time on this thread because people need to know.

[Puppet]

But it is the decision of the management whether to disclose it or not.

The decision not to disclose info like that, is what defines a scam. And I dont feel beholden to keep information from scammers secret.

Do you not think any and all information about AM/Amhash should be made public now? Do you not think they should have disclosed the theft/forfeiture/disappearance of their mine and CEO ? Of course you do, you have been shouting it for weeks now, and thus on top of everything else, you are a hypocrite.

[l3sny]

That's a different story. Scale is the case. If I am mining, selling shares and at the same time I am speculating on the hashing power on another market there might be periods when I am actually not mining at all!  SHall I disclose this to my customers or is it just my business? Shall the customers know how the sausages are made??

As long as I have the hashrate covered with bitcoins or close to it (or reasonably close to it) spreading FUD is a nonsense. And you did it! And it did not work

[cyberpinoy]

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'.

But it is the decision of the management whether to disclose it or not. Your "info" very well could have caused panic among the customers of our platform. I told you it is a quite a minor thing as we had means to buy back the missing hashrate (which at the time of the disclosure was less than 5TH\s. Your behaviour Puppet is a shame. CUstomers need to know that you are spreading disinformation based on your personal prejudice towards kryptologika. Very well this may happen to another business.
Fortunately We have quite strong client base growing every week. And your "revelations" already have been commented on our main thread so sorry but your FUD did not work.

I will be reminding of this situation from time to time on this thread because people need to know.

A shame, puppets actions were a shame, be happy Gleb the embellisher hasn't sunk his teeth into you, this dude compares unrelated things, pulls up your info from 10 years ago and never once tries to prove you are a scam. His whole point is to troll you until you just break and want to bash his face in wiht a board. What puppet does (again even if I dont agree with it) what puppet does at least has  professionalism in it, and by far would be very hard to get a slander lawsuit against. What Gleb does that sir is a shame.

[Puppet]

That's a different story. Scale is the case. If I am mining, selling shares and at the same time I am speculating on the hashing power on another market there might be periods when I am actually not mining at all!  SHall I disclose this to my customers or is it just my business?

Doh. If you dont disclose info like that (fractional reserve mining, not mining at all, speculating with other people's coin), how dare you even ask?  Of course it makes you a scammer if you are selling hashrate you do not have  its the whole premise of this thread! And of course you are a scammer if you gamble with other people's money without telling them.

And you did it! And it did not work Wink

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

[cyberpinoy]

Here is the bottom line, especially here in the most toxic forum in bitcoins, no matter how hard we work, no matter how hard we try, if it involves a way we can make money and help others make money we are the scammers from the get go, we are the liars, we are judged by all the looser hacking scammers that screwed everyone else over. Your company is only legit if its alive for 9 years, if not YOUR A SCAM, your company is only worth a crap if your rich,  if you work your butt off to create something positive YOUR A SCAM.

Microsoft started in a garage, and look where they are, google started in someones basement and look where they are. sometimes, just sometimes people really are looking out to make something that will work and benefit people, Not everyone is trying to screw people over.  

[l3sny]

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

Some 367 of active users at the moment

[cyberpinoy]

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

Some 367 of active users at the moment

That was a door you just opened sir.

[cyberpinoy]

That's a different story. Scale is the case. If I am mining, selling shares and at the same time I am speculating on the hashing power on another market there might be periods when I am actually not mining at all!  SHall I disclose this to my customers or is it just my business? Shall the customers know how the sausages are made??

As long as I have the hashrate covered with bitcoins or close to it (or reasonably close to it) spreading FUD is a nonsense. And you did it! And it did not work

\
Not to defend puppet, his actions or anything but what you did would seem a bit shady to an investor. If there was a problem, and you have the funds to cover it, the best route would have been get it covered ASAP, buy the equipment, show the receipts and let your investors know the story, cause people like Gleb are just waiting for you to screw up. if they hear it from you first the panic is not going to happen, but to hear it from a well respected scam reporter, thats what will hurt you.

[galdur]

i am interested in mining as newbie and this thread is easy to understand.
mining at this point is not wise? or is it better to wait for later moment when price is higher.

What's so hard about buying bitcoin? The fact you don't have to beg someone for it back?

Watching it constantly tank - I guess. Although it has been showing some signs of life in the past month or so. Let´s hope it lasts.

[l3sny]

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

Some 367 of active users at the moment

That was a door you just opened sir.

We are going towards greater transparency. We will be publishing numbers, hashrate etc. I am happy to disclose some figures in a non official way even in this shitty thread

[cyberpinoy]

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

Some 367 of active users at the moment

That was a door you just opened sir.

We are going towards greater transparency. We will be publishing numbers, hashrate etc. I am happy to disclose some figures in a non official way even in this shitty thread

if you want off the bad list thats what you have to do sir.

[l3sny]

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

Some 367 of active users at the moment

That was a door you just opened sir.

We are going towards greater transparency. We will be publishing numbers, hashrate etc. I am happy to disclose some figures in a non official way even in this shitty thread

if you want off the bad list thats what you have to do sir.

I do not care. I cared six months ago when we had 20 customers. Now our client base is growing at steady rate, we should just publish some figures;)

[Snipe85]

Here is the bottom line, especially here in the most toxic forum in bitcoins, no matter how hard we work, no matter how hard we try, if it involves a way we can make money and help others make money we are the scammers from the get go, we are the liars, we are judged by all the looser hacking scammers that screwed everyone else over. Your company is only legit if its alive for 9 years, if not YOUR A SCAM, your company is only worth a crap if your rich,  if you work your butt off to create something positive YOUR A SCAM.

Microsoft started in a garage, and look where they are, google started in someones basement and look where they are. sometimes, just sometimes people really are looking out to make something that will work and benefit people, Not everyone is trying to screw people over.  

You have a point, but people attacking companies in this thread have one too. The fact is at least one out of 2 mining companies is made to scam people. Another half of those that remain also turn out to be scams later on because of lack of profits, debts and so on. Microsoft wasn't a scam but in Bitcoin we already had Karpeles and Brewster with their big startups. We also had PB mining that run with the money once someone doxed the owner. I'm sure some people here have their own agendas and are puppets (no pun intended) of other companies, but the majority of projects attacked here is shady to say the least.

[BombaUcigasa]

Its difficult to scare customers that fortunately, dont exist. I can only hope it stays like that.

Some 367 of active users at the moment

That was a door you just opened sir.

We are going towards greater transparency. We will be publishing numbers, hashrate etc. I am happy to disclose some figures in a non official way even in this shitty thread

if you want off the bad list thats what you have to do sir.

I do not care. I cared six months ago when we had 20 customers. Now our client base is growing at steady rate, we should just publish some figures;)

Let's review the action so far...

Puppet discloses all information required for customers to inform themselves of the potential financial implications of their investments. This is important, because even the best of the best defraud their customers in this domain. If he has some information about potential risks, I want to know it, as a potential customer. Deal with it. Give him only information you would give any customer. I use his thread to point it out to people thinking they are "mining" when instead they are getting ripped off with fake revenue and fat referral payments. Many people have switched to honest mining activities, including buying actual miners. It is important to identify risky mining companies and he does a good job. I provide my contacts with a live updated exchange rating analysis so they can decide where to send their funds and not lose them.

cyberpinoy has the mind, language, emotions and public relations skills of a 13 year old child. Mining is needed for Bitcoin to function, it is not a pure business exercise where you put in some money and take out some money just for kicks. I would never invest in anything you touch after seeing your lies, bullshit, try-hard walls of wasted text and inability to resolve criticism. I would also never invest into your PoS system as it would be at risk of fractional reserve if any of your wallets, systems, coins, blockchains, etc, decide to fail for some reason, causing your clients to lose money. Also because of the nature of "free money" in PoS coins, where the security costs (that "wasted electricity") is zero, so the reward for zero cost is also zero, the price of the coins self-corrects to zero slowly in time. This means people pay you 100% of their Bitcoin and you give out less than 100% back. I would also not invest 100% of my risk for a small (promised) increase of PoS rewards, it costs me 5$ a month to keep as many PoS wallets as I want, why would I need your business? Your business should not be listed here as reliable until you can prove mining hardware AND security for PoS hosting in a reliable way. Until then, I can't differentiate your business from a scam.

People, get this into your head. There are many scams out there stealing people's savings and investment funds. You need to show fucking simple steps to prove your a legitimate operation and prevent potential clients from giving their money to scams instead of your legitimate business. It's not hard, why do you not get this?!

[cyberpinoy]

cyberpinoy has the mind, language, emotions and public relations skills of a 13 year old child. Mining is needed for Bitcoin to function, it is not a pure business exercise where you put in some money and take out some money just for kicks. I would never invest in anything you touch after seeing your lies, bullshit, try-hard walls of wasted text and inability to resolve criticism. I would also never invest into your PoS system as it would be at risk of fractional reserve if any of your wallets, systems, coins, blockchains, etc, decide to fail for some reason, causing your clients to lose money. Also because of the nature of "free money" in PoS coins, where the security costs (that "wasted electricity") is zero, so the reward for zero cost is also zero, the price of the coins self-corrects to zero slowly in time. This means people pay you 100% of their Bitcoin and you give out less than 100% back. I would also not invest 100% of my risk for a small (promised) increase of PoS rewards, it costs me 5$ a month to keep as many PoS wallets as I want, why would I need your business? Your business should not be listed here as reliable until you can prove mining hardware AND security for PoS hosting in a reliable way. Until then, I can't differentiate your business from a scam.

People, get this into your head. There are many scams out there stealing people's savings and investment funds. You need to show fucking simple steps to prove your a legitimate operation and prevent potential clients from giving their money to scams instead of your legitimate business. It's not hard, why do you not get this?!

As with any Mining business there is always risk, No one in any of these business can ever guarantee you anything. If they do try to they are lieing. We have done many tests to try and find a way that the POS system can work for our investors, why would someone put their coins in with us instead of staking themselves. Because unless you have an extra 40 Bitcoins to add to that 5 dollars a month you are paying to stake those 5 wallets on your computer, you are not getting the full reward or the full staking potential you can. You are getting 20% to 30% interest on your investment and staking 1/2 the time you could be by combining your efforts with others. Our pool gives investors of any kind a chance to invest and earn higher rewards than stake mining themselves. www.stakeminers.com/how.php shows exactly how 1 of the coins we use works and the true benefits of combining mining power together. The difference is, you can earn 840 of those coins staking on your own or you could earn 5000 of those coins staking in a pool for a year.

If you have 40 Bitcoins to buy your own coins by all means, I will not lie to you, it would be most beneficial for you to stake on your own. In addition if anyone did deposit 40BTC we would have to do an investigation to the funds. A 40 BTC investment is very large for anyone to throw around and before we applied that amount to the pool where it could effect our other investors in a negative way, we would have to find any way possible that those funds are legit. Even tho it would be fine for a 40BTC investor to mine on his own, we actually use more than one coin and the investors are paid their proportion of the total income in the business, they are not restricted to the income of one coin but the income of all the coins used to stake in our business. So, a 40BTC investment could make a slightly bigger return with us, But I would still have to say you would be just fine to use that and stake on your own.

This is not a zero cost business in any way, you have to purchase coins yuou are going to stake, and that does cost , but the difference is that value is held in a wallet, and as a large group who may invest continually you actually can in some ways control the price of the coins you stake on. Look at coinsminers dot com, who stole 4000 BTC in their months of operation, now imagine if they took that 4000 BTC and instead of stealing it actually bought coins with it, I think it was 6 months they were in operation. That is 22 BTC you are feeding the market a day, every day 22 BTC buys, every day 22 BTC buys, that can do nothing but raise and secure your investment.

If the project continues to progress as it is, it forces us to buy coins every single day, if you are consistently buying coins more than are being sold it will cause the value of the coins to rise. It may be slowly but all investments are over time anyways. If by "hosting" you mean put the wallets online, that is not part of our policy, the biggest problem these scam companies use is the fact their wallets are located online or on the same server as their website, and they claim ddos attack hacks and ends up stealing peoples investments. I and our business refuse to put our investors money online where any hacker with an itch may hack into their investment wallets.  I posted an investment staking wallet above, and to our clients they can request to have the wallet addresses where they can personally watch their investments, we have no problem giving those to our investors at any time they as for them. (I am sure you understand the risk of making those address public to anyone and everyone)

The need to provide evidence of the mining hardware again can be given to our investors no problem, but we do not advertise its use on an advertisement scale, there is mention of it on our site, but it is used to help pay the bills for the hosting services and to help add a little extra to our investors for backing, so on the days we do not have new investments we are still adding coins up to be added to their staking wallets. It was something extra we did for the investors because we had the hardware.