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

[julian071]

There's still the discussion wether the ponzi's that collapsed in recent days were doing fractional reserve mining or no mining at all. First clue is that their demise most probably did not make a big dent in the global hashrate.

[l3sny]

I told you so, we have an avalanche of collapsed ponzis btw if they were really mining the miners would be not affected and working as usual.

[jaybow]

I like this thread, thank you Puppet

Zeushash has stopped Mh/S Scrypt as the fees are more than the earnings as they are using Gridseeds etc. everyone that had Scrypt at Zeushash has lost their investment, me included

Where is that news that Zeus stopped MH/s Scrypt? I can still see the possibility to buy MH/s on their website, both as such and in 'TwinHash'?

[julian071]

I told you so, we have an avalanche of collapsed ponzis btw if they were really mining the miners would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/

[BombaUcigasa]

There's still the discussion wether the ponzi's that collapsed in recent days were doing fractional reserve mining or no mining at all. First clue is that their demise most probably did not make a big dent in the global hashrate.

That's because the hashrate was fake.

Worst thing so far, they will not all explode before Bitcoin resumes expansion and your sites will still be filled with shitty scammy adverts for cloud hashing.

[l3sny]

I told you so, we have an avalanche of collapsed ponzis btw if they were really mining the hardware would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/

I meant the hardware

[julian071]

I told you so, we have an avalanche of collapsed ponzis btw if they were really mining the hardware would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/

I meant the hardware

Hehe well still well put!

[l3sny]

I told you so, we have an avalanche of collapsed ponzis btw if they were really mining the hardware they were using would be not affected and working as usual.

Aw, 'mining the miners' is a very poignant metaphore :/

I meant the hardware

Hehe well still wel put!

I have improved it again

[jedi108]

Thank you for this post.

Please, add to this https://www.cryptsy.com cloud mining too

Consolidated Mining Specifications

140 Th/s Total Mining Power
No term - continues until it no longer produces
1.0 Unit = 1.167 Gh/s
Total Shares Available: 120,000
Daily Mining Payouts Directly To Your Cryptsy Balance

About MN - https://www.cryptsy.com/currencies/view/260
Market MN/BTC - https://www.cryptsy.com/markets/view/MN_BTC

[KingTylerVVS]

case and point - do not buy cloud mining. Period. Ever. Just save your bitcoins, buy physical miners if you like, and WORK for your money. Create real value for society. Cannot get something for nothing, do not let ANYONE convince you to part with your money.

[Puppet]

Thank you for this post.

Please, add to this https://www.cryptsy.com cloud mining too

Consolidated Mining Specifications

140 Th/s Total Mining Power
No term - continues until it no longer produces
1.0 Unit = 1.167 Gh/s
Total Shares Available: 120,000
Daily Mining Payouts Directly To Your Cryptsy Balance

About MN - https://www.cryptsy.com/currencies/view/260
Market MN/BTC - https://www.cryptsy.com/markets/view/MN_BTC

Thanks, didnt know about that one. At first glance only 1+2+3 seem to apply.  Anything else I should know?

[virtapayseller666]

read this about why site down  http://www.reddit.com/r/Bitcoin/comments/2qpao3/hashprofit_is_down_ddos_attack_or_scam/

https://hashprofit.com/ RIP Site down

new Scam

[Muhammed Zakir]

read this about why site down  http://www.reddit.com/r/Bitcoin/comments/2qpao3/hashprofit_is_down_ddos_attack_or_scam/

https://hashprofit.com/ RIP Site down

new Scam

Site is still up but they changed HTTPS to HTTP.

   ~~MZ~~

[etnak]

Another ponzi site that went down this week is coins-miners.com

[l3sny]

They are dropping like flies;) Next!

[whitewhidow]

puppet. you have anything invested somewhere?  if so, where ?

im ssoooooo tired of this scamming bs ..

[inBitweTrust]

puppet. you have anything invested somewhere?  if so, where ?

im ssoooooo tired of this scamming bs ..

You are better off refusing to participate in cloud mining, buying BTC directly, and pressuring ASIC manufactures to lower prices and behave more responsibly.

Here are ways you should store your bitcoins :

https://bitcointalk.org/index.php?topic=858604.0

[Puppet]

puppet. you have anything invested somewhere?  if so, where ?

I sure have.
I own a non trivial amount of bitcoins, most of which in a cold wallet.

[Dilemma]

Another ponzi site that went down this week is coins-miners.com

it is not a new
they didnt pay for last two weeks
they are scammer..

[whitewhidow]

im thinking of just buying the hw myself...   as i got access to "free" (nothing in life is free) electricity..

just not 100% sure if its even worth the effort of gathering funds ..


many lessons learned regarding cloud mining. thses last days ..

and atleast i know i wont turn into a freaking puzzle at some point. hashie. sorry. i sneezed