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

[oxiyusuf]

Which cloudmining sites offering scrypt mining is legit? Bit-x has it, and I consider them ok. Hashnest/BITMAIN has offered it but no longer.

What do we know about scrypt cloudmining...?

I do not quite know about  mining scrypt, but we recommend you mine own with which to buy miner tool. it is more promising than the cloudmining

[DaddyMonsi]

Which cloudmining sites offering scrypt mining is legit? Bit-x has it, and I consider them ok. Hashnest/BITMAIN has offered it but no longer.

What do we know about scrypt cloudmining...?

I do not quite know about  mining scrypt, but we recommend you mine own with which to buy miner tool. it is more promising than the cloudmining

you mean like getting setting up your own rig or buying asic miner like from bitmain?

[mmmaybe]

Which cloudmining sites offering scrypt mining is legit? Bit-x has it, and I consider them ok. Hashnest/BITMAIN has offered it but no longer.

What do we know about scrypt cloudmining...?

I do not quite know about  mining scrypt, but we recommend you mine own with which to buy miner tool. it is more promising than the cloudmining

Why would it be more promising to buy your own equitment than buying mining contracts on a site, given that the site is legit? Of course you might lose some since the site has to do profit, but the practical pros are major with cloud.

[hermanto]

pow88.com  my deposit btc 16mJ1WQBwAhabBD2mcrxKg3UjxUmKx7n1R deposit wallet power 88...i tranfers hash f15e9d29752aa16d8d28a0da974abd4159e3498710dad9e5cfe4a1af3c9cf7cd 0.0172 btc 6 confirmation  no money in my wallet power88 16mJ1WQBwAhabBD2mcrxKg3UjxUmKx7n1R very confused thanks id herjahto

[hermanto]

bad custumer services 2 day no respon,,,my deposit idon"t no no money wallet id power88,,very many wallet btc in power88 1 id

[tmfp]

bad custumer services 2 day no respon,,,my deposit idon"t no no money wallet id power88,,very many wallet btc in power88 1 id

Sorry to read about your problem, but if you think you have been scammed then start a Scam Accusation in the right place.
This thread was started to provide a basic self help framework to decide whether or not a "cloud miner" was actually a cloud miner or not.
I see from your posts that you refer to PB, Scryptsy and Bitcoin Cloud Services investments.
Did you actually read and apply any of the guidelines here before you gave these people your money?

[elrippo]

@puppet: Can you update the list and add cloudminr.io to the collapsed ponzies  -> https://bitcointalk.org/index.php?topic=850784.msg11802519#msg11802519

[favdesu]

@puppet: Can you update the list and add cloudminr.io to the collapsed ponzies   -> https://bitcointalk.org/index.php?topic=850784.msg11802519#msg11802519

let me guess before I read this link: they have been hacked.

edit: yup I was right.

[BitcoinRichman]

@puppet: Can you update the list and add cloudminr.io to the collapsed ponzies  -> https://bitcointalk.org/index.php?topic=850784.msg11802519#msg11802519

after bitcoincloudservice now cloudminr collapse so what the next ?

[cryptodevil]

Kinda interesting to note how many of these cloudmining sites entering into 'awkward' mode began in November last year, which also happens to be when Scrypt.cc came back with a vengeance.

Add in the Ukrainian scammy 'monitoring' website, cmmonitor, and I'm pretty confident that these services are all being run by the same gang.


[edit] Actually, no, I just thought I'd do a quick fact-check and scrypt.cc was pretty much in idle mode for most of last year up until 'Admin' posted his "I was hospitalised 9 months ago, then I got better, then I travelled the world buying the latest mining equipment, now I'm back" in mid-February of this year. https://bitcointalk.org/index.php?topic=444495.700

So all those who claim that scrypt.cc must be legit because they've been running since February of 2014, nope, they didn't start doing the serious push for 'investors' until February of 2015.

[cryptodevil]

Which cloudmining sites offering scrypt mining is legit? Bit-x has it, and I consider them ok. Hashnest/BITMAIN has offered it but no longer.

What do we know about scrypt cloudmining...?

We know that scrypt.cc can't possibly have 850GH/s of Scrypt miners https://bitcointalk.org/index.php?topic=1102560.0

How big is the claimed scrypt hashrate of the other scams?

[DaddyMonsi]

just in case you guys want to know
another site claims of being hacked
no payments was made
site is now down
but looking at the website registry, domain is registered until October 2015 only

Hello!

We will have to stop accepting new orders until a new version of CLOUDMINR.IO is made from scratch. Our developers have estimated that it may take 2 - 3 weeks.

What we can tell now is that we have been hacked, and the hackers were able to access our source code and database, as well as editing it. Right now we cannot be sure that the payout addresses are the correct ones, as well as emails and other data. We do have backups but we need to know when exactly when the hackers gained access to our server.

Part of the bitcoins went to hackers addresses instead of our own payment addresses. Currently we are looking for any logs related to the hack and estimating the losses.

We need to create a new website from scratch on new servers as hackers usually leave backdoors for later access.

Stay tuned. The website should appear blank with a similar warning text to this announcement soon. If it's changed, please do not trust it.

[anamichii]

i didnt trust any cloud anymore.
prefer to rent some hash / rig on nicehash or any other rig rental, then mine bitcoin in truly pool like ckpool or antpool with their 0% pplns.

[btcgiel]

LOOK OUT, maybe not ponzi but there are problems in the system of Bit-x.com

I invested 1 BTC to test there system with this result:

Bit-x.com

Reference

Status

Duration

Startdate

Enddate

Hashrate GH/s

Payment

BTC/GH

Mined

Date

ROI (%)

ROI (days)

Monthly Payout

GHS

Active

unlimited

11-6-2015

–

566

1

0,001766784452

0,03025369

5-7-2015

3,03%

793

0,03781711

After i discovered that the ROI is about 793 day, i knew that i would never make ROI. So i wanted to sell my Hashrate. I put an order with "AUTO" and selected that i want the price within the 3% limit.

There system didn't sell my hash rate correct with the result that i only get about 0,15 btc of my investment of 1 btc. I send a support ticket but i do not get an answer on my last question.

So please look out or better don't invest !!

[Superhitech]

just in case you guys want to know
another site claims of being hacked
no payments was made
site is now down
but looking at the website registry, domain is registered until October 2015 only

Hello!

We will have to stop accepting new orders until a new version of CLOUDMINR.IO is made from scratch. Our developers have estimated that it may take 2 - 3 weeks.

What we can tell now is that we have been hacked, and the hackers were able to access our source code and database, as well as editing it. Right now we cannot be sure that the payout addresses are the correct ones, as well as emails and other data. We do have backups but we need to know when exactly when the hackers gained access to our server.

Part of the bitcoins went to hackers addresses instead of our own payment addresses. Currently we are looking for any logs related to the hack and estimating the losses.

We need to create a new website from scratch on new servers as hackers usually leave backdoors for later access.

Stay tuned. The website should appear blank with a similar warning text to this announcement soon. If it's changed, please do not trust it.

Yes, cloudminr.io has likely collapsed. Being "hacked" is a common excuse to use.

[hopebit]

Just a clarification about the much used term ROI (return on investment). I just want to make sure everyone's talking about the same thing.

Someone told me the other day that they had bought some hash contract for let's say 1BTC. It is not transferable or resaleable.
Its only value is its projected earnings. He was very happy to tell me that, over 4 months, he had cumulatively received back in small payments 1BTC and that his ROI was 100%.

I have a conventional fiat business background and said no, your ROI is 0%. The 'asset' that you paid 1BTC for has no fungible value so it is a -1BTC on your balance sheet, which also contains a +1 from your earnings, equalling zero, which is the ROI you would have if the contract stopped paying now.
Up until break even, you are just receiving your own money back.

No need for any abuse here (probably get it anyway), it's a serious question because I can see some newbies seeing claims of 150% ROI meaning 150% profit.
 

I, too, have noticed the word "ROI" is being used incorrectly here, which is very confusing.  Here people measures ROI in days so they probably mean "time for reaching the break even point".   I'm trying to get used to it but still uncomfortable.

[hopebit]

When it comes to PACMICz, I consider it a loan to BitMain/Hashnest, which I quickly get back with a decent interest rate. With the paid back load + interest I can re-invest it anyway I want. At the end, we as customers get the option to invest in S6s.

Win-win.

Where can you invest on S6 on Hashnest? I can only find S5

[BIT-X.com]

Dear btcgiel,

while selling Your GHSes, You have selected AUTO order type and checked the option "Trade at any price" (it is turned on by default)
without researching available opposite offers. We are sorry that it led You to the losses, but it is not our fault.

best regards,
Bit-X Staff.

LOOK OUT, maybe not ponzi but there are problems in the system of Bit-x.com

I invested 1 BTC to test there system with this result:

Bit-x.com

Reference

Status

Duration

Startdate

Enddate

Hashrate GH/s

Payment

BTC/GH

Mined

Date

ROI (%)

ROI (days)

Monthly Payout

GHS

Active

unlimited

11-6-2015

–

566

1

0,001766784452

0,03025369

5-7-2015

3,03%

793

0,03781711

After i discovered that the ROI is about 793 day, i knew that i would never make ROI. So i wanted to sell my Hashrate. I put an order with "AUTO" and selected that i want the price within the 3% limit.

There system didn't sell my hash rate correct with the result that i only get about 0,15 btc of my investment of 1 btc. I send a support ticket but i do not get an answer on my last question.

So please look out or better don't invest !!

[BitcoinNewsMagazine]

When it comes to PACMICz, I consider it a loan to BitMain/Hashnest, which I quickly get back with a decent interest rate. With the paid back load + interest I can re-invest it anyway I want. At the end, we as customers get the option to invest in S6s.

Win-win.

Where can you invest on S6 on Hashnest? I can only find S5

S6 is not on sale yet, expected late Summer.

[yeponlyone]

@puppet: Can you update the list and add cloudminr.io to the collapsed ponzies   -> https://bitcointalk.org/index.php?topic=850784.msg11802519#msg11802519

let me guess before I read this link: they have been hacked.

edit: yup I was right.

This made my morning haha Now are even their database with clear-text password posted on the site main page...

Wonder how much they got away with at the end, the database list is not very long...