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

[BombaUcigasa]

Please disregard any opinion or information I am posting on this thread. I am the technical and communications officer for a mining contracts platform and doing so would be a conflict of interest.

I just wanted to say you people need to ask Puppet to keep updating his reviews with new information. We have a lot of people joining in the next few months and it would be a shame to have a bad experience in their first Bitcoin endeavor.

[tmfp]

I just wanted to say you people need to ask Puppet to keep updating his reviews with new information.

The method he outlined in the OP for how to identify likely ponzis is still valid. I always thought the idea was to try to force some basic transparency out of anons with a website who want payment upfront for something that may not exist.
If any new operations come along and don't offer sufficient transparency, then don't invest, simple as that.

Please disregard any opinion or information I am posting on this thread. I am the technical and communications officer for a mining contracts platform and doing so would be a conflict of interest.

Presumably the ones in your signature....how many do you reckon they would score on the /7 criteria list?

Double bonus

lifetime referral

100% uptime guarantee

[BombaUcigasa]

The method he outlined in the OP for how to identify likely ponzis is still valid. I always thought the idea was to try to force some basic transparency out of anons with a website who want payment upfront for something that may not exist.
If any new operations come along and don't offer sufficient transparency, then don't invest, simple as that.

Yes, but some things change. We have invented the concept of wiki especially for this kind of process where information needs to be corrected to reflect the reality.

Presumably the ones in your signature....how many do you reckon they would score on the /7 criteria list?

Double bonus

lifetime referral

100% uptime guarantee

I don't know, we'll get to 0/7 soon. It's pretty easy to come visit us if you are in Romania, you also have pictures of our facility, we have a few used public mining addresses, our company has invoices from Bitmain, etc. For some people, nothing will ever be enough. For some people, they don't even care and just want to get in first into ponzis to collect those referral bonuses, which reminds me:

- Special promotional deal only in October (customer acquisition is EXPENSIVE, especially at first). It's our method of giving more power for the same money when the Bitcoin price is down, percentages change every month.

- Referrals only get a puny 3%. Might as well make it worth the effort.

- It's a good idea to have extra mining power installed so you can smooth out luck variance, connectivity issues, downtime, maintenance time, etc. Anyway, back to my work, there's lots to be done...

[trinaldao]

Please disregard any opinion or information I am posting on this thread. I am the technical and communications officer for a mining contracts platform and doing so would be a conflict of interest.

I just wanted to say you people need to ask Puppet to keep updating his reviews with new information. We have a lot of people joining in the next few months and it would be a shame to have a bad experience in their first Bitcoin endeavor.

im never heard about starthashing (your signature ) any official thread ?
https://www.starthash.com/about ? anonymity ? I m not see office address ?

any proof about your mining hardware ?

[BitcoinNewsMagazine]

StartHash rates are higher than Hashnest. Go to the source instead and you will earn more and have the option to sell your hash at any time.

[pjsonowal]

So what do you say about ROYALHASH.COM and MINUTEBTC.COM both are new... But cant judge whether they are scam or not... Please help me out

[tmfp]

So what do you say about ROYALHASH.COM

 

and MINUTEBTC.COM

 

My sides.....

They are both about as legitimate as...words fail me.

No.

[tmfp]

Pure Comedy Gold...........

Initially founded by a group of enterprising Bitcoin aficionados, RH Miners Limited has a staff that includes industry professionals in engineering, advanced computational technology, and cryptocurrency mining techniques. 

Incorporating a blend of advanced computer equipment and a centrally located data center, RH Miners Limited is capable of engaging in effective strategic Bitcoin mining, at a fraction of a conventional price.

Profit from Bitcoin Cloud Mining, It’s fast, lucrative and secure! You can easily start profiting today - all you have to do is open your free account.
 

Paging Mr. Jeff Taylor!
C'mon Jeff, come and tell us about mining in the Shard........

 

[blade19941]

Yeah I wish I saw this sooner

I went along with trusting what Bitmakler.net said.

Yeah I invested 0.12btc into cloudmining.website, and I feel like a complete cheated idiot now.
(Considering its the first time I've ever been scammed)

Does anybody know anything about BitKnock???

[Indianacoin]

Yeah I wish I saw this sooner

I went along with trusting what Bitmakler.net said.

Yeah I invested 0.12btc into cloudmining.website, and I feel like a complete cheated idiot now.
(Considering its the first time I've ever been scammed)

Don't ever trust the sites which are being paid by ponzis to advertise their shitty schemes for newbies! Or you'll end up being cheated just like you said above! Except a few (one or two) all other sites mentioned on Bitmakler are sure shot ponzis! It's a sad truth that you'll have to use your brain (caveat emptor) next time you try to dive into a Cloudmining scheme!

Does anybody know anything about BitKnock???

What is your first impression after heading onto that site? I guess you got my point And, never trust a site by their HTTPS protocol as scammers nowadays can go beyond that until you get trapped by their baits! It's like the tip of an iceberg

[blade19941]

Yeah, I clearly didnt do my research properly before hand. Oh well, we all make mistakes and this is how we learn.


Honestly, my first impression of Bitknock is a good impression.

Pretty much the same impression I got of Genesis-Mining, which I was originally going to invest into until I saw what their fees were.

I am mainly asking about BitKnock because a friend of mine invested $4400 into it. They have payed out and you can also sell your hashing power.

But it could also very well be a Ponzi Scheme. The site seems very professional, support is fast and they actually give an address.


I'm trying MinerFarm now after seeing many good reviews, starting off with a much smaller amount though.

[muna]

Guys, what is hashocean.com? Scam or legit? Anyone tried them out?

Scam, bit time. Do not even touch.

They still are working and i get ROI from 20GHs that i buy to have 15GHs gratis. It was very fast.
How much time do you give them guys?

[tmfp]

Yeah, I clearly didnt do my research properly before hand. Oh well, we all make mistakes and this is how we learn.


Honestly, my first impression of Bitknock is a good impression.

Pretty much the same impression I got of Genesis-Mining, which I was originally going to invest into until I saw what their fees were.

I am mainly asking about BitKnock because a friend of mine invested $4400 into it. They have payed out and you can also sell your hashing power.

But it could also very well be a Ponzi Scheme. The site seems very professional, support is fast and they actually give an address.


I'm trying MinerFarm now after seeing many good reviews, starting off with a much smaller amount though.

Re:Bitknock, any business that requires a referral to sign up is a scam.

[elrippo]

Yeah, I clearly didnt do my research properly before hand. Oh well, we all make mistakes and this is how we learn.


Honestly, my first impression of Bitknock is a good impression.

Pretty much the same impression I got of Genesis-Mining, which I was originally going to invest into until I saw what their fees were.

I am mainly asking about BitKnock because a friend of mine invested $4400 into it. They have payed out and you can also sell your hashing power.

But it could also very well be a Ponzi Scheme. The site seems very professional, support is fast and they actually give an address.


I'm trying MinerFarm now after seeing many good reviews, starting off with a much smaller amount though.

Re:Bitknock, any business that requires a referral to sign up is a scam.

Well, i miss an Impressum or a contact address. So these guys are anonymous, what tends to be an absolute NOGO for a legit business!!!

[tmfp]

Just now, researching some MMM shit, came across an incubator of cloud mining scams:

Coolhash.com
Bitminr.com
MineProfit.com
SpecialMiner.com

The last one has already been released into the wild, with an absurd 35 day ROI, possible download virus for free trial, made up details etc. etc. etc.

Obviously avoid at all costs, pass it on should anyone show any interest in this crap.

EDIT:
MineProfit.com also confirmed virus

https://bitcointalk.org/index.php?topic=1221901.0

[FrostStick]

Is ZeusHash legit? I believe it's affiliated with the dodgy investment site HalleyBTC.

[Indianacoin]

                                                         --- UPDATED LIST ---


Ponzi's that have already collapsed as predicted:

Code:

PBmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
Lunaminer.com         1+2+3+4+5+6+7      => 7/7 = Ponzi
coinsoncloud.eu       1+2+3+4+5+6+7      => 7/7 = Ponzi
Cryptomine.io         1+2+3+4+5+6+7      => 7/7 = Ponzi
hashie.co             1+2+3+4+5+6+7      => 7/7 = Ponzi
bitcoinlabmining.com  1+2+3+4+5+6+7      => 7/7 = Ponzi 
ltcgear               1+2+3+4+5+6+7      => 7/7 = (very) suspicious
hashprofit.com        1+2+3+4+5+6+7      => 7/7 = Ponzi
minethatcloud.com     1+2+3+4+5+6+7      => 7/7 = Ponzi
CoIntellect.com       1+2+3+4+5+6+7      => 7/7 = Ponzi
terabox.me            1+2+3*+4+5+6+7*    => 7*/7 = Ponzi (pictures are not at all convincing, exit strategy involves  60+ days stall tactic)
chabatmining.com      1+2+3+4+5+6+7      => 7/7 = Ponzi
Ecrypto.co.in         1+2+3+4+5+6+7      => 7/7 = Ponzi (+ confirmed scam, they are no partners of cex.io)
GenerateBTC.com       1+2+3+4+5+6+7      => 7/7 = Ponzi
cloudminr.io          1+2+3+4+5+6+7      => 7/7 = Ponzi
grmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
hashwar.co            1+2+3+4+5+6+7+8    => 7/7 = Ponzi
bitrush.com           1+2+3+4+5+6+7      => 7/7 = Ponzi
scrypt.cc             1+2+3+4+5+6+7+8    => 7/7 = Ponzi
Kryptologika          1+2+3+4+5+6+7      => 7/7 = Ponzi
Cryptsy MN            1+2+3+4+5+6+7      => 7/7 = Ponzi ( + no details on fee structure) (withdrawl problems noticed!)
Coolhash.com          1+2+3+4+5+6+7      => 7/7 = Ponzi (+ possible malware/wallet stealing software)
Bitminr.com           1+2+3+4+5+6+7      => 7/7 = Ponzi (+ possible malware/wallet stealing software)
MineProfit.com        1+2+3+4+5+6+7      => 7/7 = Ponzi (+ possible malware/wallet stealing software)
SpecialMiner.com      1+2+3+4+5+6+7      => 7/7 = Ponzi  (+ possible malware/wallet stealing software)

Likely Ponzi scams that have yet to collapse:

Code:

cloudmining.website   1+2+3+4+5+6+7      => 7/7 = Ponzi
Skycoinlab.com        1+2+3+4+5+6+7      => 7/7 = Ponzi (+ organized by serial ponzi scammer: ?topic=583177.msg10298730)
btcslice.com          1+2+3+4+5+6+7      => 7/7 = Ponzi (+ pays out in reversible paypal ?)
bitcoinmaker.ch       1+2+3+4+6+7+8      => 7/7 = Ponzi 
eobot.com             1+2+3+5+6+7        => 6/7 = Ponzi (+ possible malware/wallet stealing software)
nexusmining.com       1+2*+3+4+5+7       => 6/7 = Ponzi (Guy from Spondoolies says im wrong, but I can't score what I haven't seen and he seems to confirm they have no hardware)
minerslab.com         1+2+3+4+6+7        => 6/7 = Ponzi (+ selling hardware that doesnt exist + using purchased "legendary" account) 
bitcoincloudservices  1+2+4+5+6*+7       => 6/7 = Ponzi (+ founded by known scammer  https://bitcointalk.org/index.php?topic=860400.msg9638868#msg9638868)
cloudmining.sg        1+2+4+6+7          => 5/7 = Ponzi (Founder's LinkedIn account deleted, Uses Weebly's free checkout platform)
hashcoins.com 
and hashflare.io     ~1+2+3+4+7          => 5/7 = (very) suspicious (user selectable pool requires fee, dc pictures show no miners, linkedin profile doctored, hardware sales very dubious,..) (*now owned by hashflare.io)
Zeushash              1+2+3+4+5          => 5/7 = (very) suspicious

Rest:

Code:

pow88.com             1+2+5              => 3/7 = Probably legit (preliminary assessment) (Suspicious referral bonus : 1% hourly !!!)
genesis-mining.com    1+2+7              => 3/7 = Probably legit.
Bit-x.com             1+4                => 2/7 = Probably legit (preliminary assessment, partnership confirmed by Bitfury)
haobtc.com            1+2                => 2/7 = Probably Legit (investment based cloudmining company => https://bitcointalk.org/index.php?topic=1023187.0)
bw.com                                   => 0/7 = Legit
Hashnest                                 => 0/7 = Legit

Obsolete or suspended:

Code:

AMhash                                   => 0/7 = Legit
KNCcloud              7                  => 1/7 = Legit
Cex.io                4                  => 1/7 = Legit
Cryptx PETAmine                          => 0/7 = Legit
Megamine.com          1+4                => 2/7 = Probably legit
GAWminers             1+4+5+~7           => 4/7*= Possibly/partially legit based on criteria set forth. Based on wider context: more suspicious than a nun squatting in a cucumber field

Small tips are much appreciated!
My tip jar: 1SoumyadbsfCGsSekYdgAkWpGZM3WSaxt
Thanks.

[FrostStick]

Wait, so genesis mining isn't 100% confirmed legit either?

[flyingplows]

Wait, so genesis mining isn't 100% confirmed legit either?

Legit or not.. you'll not gonna make any money with them. I tried it myself it's only a loss.

[Indianacoin]

Wait, so genesis mining isn't 100% confirmed legit either?

Code:

genesis-mining.com    1+2+7              => 3/7 = Probably legit.

1) No public mining address / no user selectable pool.
A cloud mining company that won't let you direct the hashrate to your pool of choosing and can't prove its actually mining bitcoins itself, is very likely a scam. There is no reason to hide mining address or not sign blocks. None!

2) No endorsement from any ASIC vendor.
ASIC vendors will gladly make a simple post to show the company in question is a significant customer of theirs. Its free advertisement for them and it helps their customer grow their business, so there is absolutely no reason they wouldn't. If a (cloud) mining company cant get any ASIC vendor to post such endorsement, you should assume they don't have any hardware to mine with.

7) No exit strategy.
If you can't sell your position, you can't get your money out. That's the ideal case for a ponzi and allows it to run for a  long time.


Hope this helps!