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

[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.

[1714819090]

1714819090

[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!

[herjahto]

scrypsty.com 2 day down server no payout ..what happenss

[suchmoon]

scrypsty.com 2 day down server no payout ..what happenss

Looks like ponzi successfully completed.

[TheIZS]

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!

They have a close relationship with Spoondoolies. In fact they manage a cloudmining site for Spoondoolies. The mining address is public on their site. Really you need to be careful on the "never had a miss" thread that still lists GAW and AM Hash in the NOT A SCAM section. Come on Puppet 80% is still a good record, but a miss is a miss.

[crazyivan]

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!

They have a close relationship with Spoondoolies. In fact they manage a cloudmining site for Spoondoolies. The mining address is public on their site. Really you need to be careful on the "never had a miss" thread that still lists GAW and AM Hash in the NOT A SCAM section. Come on Puppet 80% is still a good record, but a miss is a miss.

Genesis is legit, there are hundred videos online showing their farms. The problem is they re not profitable.

[tmfp]

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!

They have a close relationship with Spoondoolies. In fact they manage a cloudmining site for Spoondoolies. The mining address is public on their site. Really you need to be careful on the "never had a miss" thread that still lists GAW and AM Hash in the NOT A SCAM section. Come on Puppet 80% is still a good record, but a miss is a miss.

To be fair, he listed GAW as

Based on wider context: more suspicious than a nun squatting in a cucumber field

As for AM Hash, there was no section in his analysis for "CEO legs it out of the blue one day".

They have a close relationship with Spoondoolies. In fact they manage a cloudmining site for Spoondoolies. 

That should be a plus, but after news about the BTCS merger progress, not so sure. If Spondoolies get dragged under by the lack of capital, what are the implications for large users of their equipment?

http://www.coindesk.com/btcs-filing-substantial-doubt-bitcoin-firms-future/

[muna]

scrypsty.com 2 day down server no payout ..what happenss

Say ADIOS to your BTC and GHS. Next scam collapse.. Game over!

[Borgminer]

100 percent legit and profitable at current btc rate . if btc falls under 250 you prolly wont earn profit

[tmfp]

Another 7/7 screaming scam https://cloudhours.net/.
Just posting it get it in the Search system.

[AJRGale]

Another I came across: bitcoinmining.me no info on the site, and free 350GH/s that you need to spend real btc to get profits out..
Obviously not a scam!

So 7/7 1, 2, 3, 4, 5, 6, 7. I say 7 for the the free 350GHs

[blg42598]

HashFlare?

[BTCBinary]

These guys are just one more ponzi scheme. This is the type of thing that gives a really bad name to digital currency.

[crazyivan]

HashFlare?

Dont know about hashflare. There re couple of videos of their miners online and a separate company selling them. Not enough data for a company of their size but at least they have something. Experiences?

[Tstar]

HashFlare?

Dont know about hashflare. There re couple of videos of their miners online and a separate company selling them. Not enough data for a company of their size but at least they have something. Experiences?

They are based in Tallin, Estonia the same as another collapsed cloudmining scam cointellect and that is very suspicious. They now have some photographs but I would not invest a single satoshi in there. Stay away.
The actual graphics of the internet site reminded me of cointellect.

[Marbit]

What are legit cloud mining companies based on China? I would like some input on this from people who have knowledge of their operations.

Two i found is

Hashnest

pow88.com

Are there more companies, please let me know.

Cheers!

[akustik]

i think only Hashnest is legit..
other systems has high risk...

[mrsalve]

HashFlare?

Dont know about hashflare. There re couple of videos of their miners online and a separate company selling them. Not enough data for a company of their size but at least they have something. Experiences?

They are based in Tallin, Estonia the same as another collapsed cloudmining scam cointellect and that is very suspicious. They now have some photographs but I would not invest a single satoshi in there. Stay away.
The actual graphics of the internet site reminded me of cointellect.

I'm member from end May.2015y. Withdraws always have worked and I got payout.
So short to tell I'm very happy with them.

[mrsalve]

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!

They have a close relationship with Spoondoolies. In fact they manage a cloudmining site for Spoondoolies. The mining address is public on their site. Really you need to be careful on the "never had a miss" thread that still lists GAW and AM Hash in the NOT A SCAM section. Come on Puppet 80% is still a good record, but a miss is a miss.

Genesis is legit, there are hundred videos online showing their farms. The problem is they re not profitable.

I have read so much about them so I desided to check out my self. Bought test 0,1 Th. Will see what comes of it.

[crazyivan]

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!

They have a close relationship with Spoondoolies. In fact they manage a cloudmining site for Spoondoolies. The mining address is public on their site. Really you need to be careful on the "never had a miss" thread that still lists GAW and AM Hash in the NOT A SCAM section. Come on Puppet 80% is still a good record, but a miss is a miss.

Genesis is legit, there are hundred videos online showing their farms. The problem is they re not profitable.

I have read so much about them so I desided to check out my self. Bought test 0,1 Th. Will see what comes of it.

If you did read about them, you should ve caught the fact they do not provide anything close to ROI. You have wasted your money and you cant even sell your hash and get out. BS service.