Yesterday a client of mine asked my opinion regarding
https://www.nexusmining.com/ so I decided to check it out.
First impression - total scam.
The information regarding payouts is confusing and in fact - blatantly misleading.
I decided to see what will I earn if I mine with 1000 GH for one month. NexusMining say that "in 30 days you could earn 120.86 USD". So what does "earn" mean? For one month you have to pay rent of 470 USD (actually, if you try to move the slider, the price becomes 769 USD and no longer goes back to 470 USD - a bug?!?). So, what do they mean by "earn":
1. You will make 470 USD (rent) + 120.86 USD?
OR
2. You will lose 349.14 USD?
Having in mind that the network difficulty really high and 1000 GH is not that much, generating 590.86 USD for one month sounds impossible. So I decided to use a mining calculator and see what numbers come out.
Here is the result:
https://tradeblock.com/mining/a/BeLYwWNnwWpfQf8BeD2mb7It turns out that if you pay NexusMining 470 USD for one month for 1000GH of mining power, you will actually lose 349.14 USD at current bitcoin prices. Reaching a 0 ROI (actually 1 USD) will be possible ONLY if the bitcoin price goes to 1400 USD!
So, as e person who believes in bitcoin and the change for good that it has the potential to bring to the world, I get really annoyed (to say the least) by such "businesses". NexusMining, you are blatantly lying to people with little or no idea of what bitcoin or bitcoin mining is! You are a scam plain and simple and you and your kind are largely responsible for the bad aftertaste that people get when they think of their first
and last interaction with Bitcoin.