Proof that MineThatCloud is a Ponzi

[Mabsark]

And you thought CEX.IO had high maintenance fees!

What are your maintenance fees?

Also, will you be providing any of the evidence puppet asks for in his Cloudmining 101 thread in order to prove your legitimacy?

Hi Thank You for your post.

We just noticed puppets post and will be providing evidence shortly.

As for maintenance fees.

Datacenter in UK.

£6,608 Per Month, We have 4 Full Racks Rented out
£0.17 Per Kwh

Datacenter in France.

€8,526 Per Month, We have 4 Full Racks Rented out
€0.26 Per Kwh

17p per kWh is 0.26 $/kWh. On average, at the current difficulty you'll mine 0.00001144 BTC/GH/day. At 0.26 $/kWh, a 0.5 J/Gh miner would cost 0.00001752 BTC/Gh/day to run at a price of 178 $/BTC meaning you would lose 0.00000608 BTC/GH/day. In fact, with a 0.5 J/Gh miner you'd lose money unless the bitcoin price was above 273 $/BTC.

Let me know if I'm understanding this correctly.

You pay ~$18,000 USD per month for hosting of your 154 TH/s.

154 TH/s earns $315/day or $9500/month.

So you are asking for $25,000 for 154 TH/s which produces a loss of $8500/month for 12 months? (assuming difficulty doesn't increase which it will)

This is my second time asking these questions. Please answer:

Can you show your mining address to prove that you actually have the stated hashrate?

What company and/or individuals are running this business?

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

If you refuse to provide evidence of legitimacy, why should people believe you are legitimate? You said you would provide such evidence but have failed to do so. All you have provided is proof of payments.

So where's the evidence? Just like every collapsed cloud mining ponzi, they've got none and will delete you posts if you point that out. So, feel free to discuss the service here.

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[Dilemma]

they are new cloud mining system
they start very agressive
daily paymnet, free starting camp. , signature camp..

[newIndia]

they are new cloud mining system
they start very agressive
daily paymnet, free starting camp. , signature camp..

I asked the following... No answer so far !!!

How long one needs to wear the signature to keep this hashpower ? Or the hashpower would go as soon as someone removes the sig ? There is nothing stated clearly in the OP !!!

[Mabsark]

We can assure you we are legitimate, But only time will prove that.

What is your mining address?

I'm not at liberty to disclose that as I have been informed it could lead to a potential attack. We do not want to give that out publicly.

Why is it that legitimate services can show their mining addresses and provide proof of legitimacy without it leading to an attack? Why is it only the ponzi operators that are scared of these "potential" attacks from people knowing their mining address.

Once again, Looks like to have to repost this due to unfounded hatred of our service.

Then answer my questions.

What is your mining address?
What business entity is running this service?

We have answered your questions, just because you may not be happy with the answer doesnt give you right to try and put our user base off.

We can assure you we are legitimate, But only time will prove that.

What is your mining address?

I'm not at liberty to disclose that as I have been informed it could lead to a potential attack. We do not want to give that out publicly.

See above and as for business entity, If you read our FAQ you will realise that a business doesnt own our service, but a private investor does.

To provide a service to customers we do not have any "law" that states we need to open a business to do so. We can provide as is.

If you are not happy with the service for some reason why not join up and we can prove we are legitimate via you getting a ROI and more over the course of the next year?

They say that like every ponzi that's ever existed never paid out right up until they ran off with the money.

[Outlander]

I have been following minethatcloud since first post, he deleted his thread in meta and locked his thread in service.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

if nobody join with our refferal link can u pay any prize for us for signature?
You should pay some if you want to be fair for signature..

I think this is another scam cloud mining, OP is looking for free traffic.
Op deleted his thread in meta, I thought mod should lock this.

[Mabsark]

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

The payments were made form 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3.

0.0087 BTC was sent from 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC to 1JgxteZWCuZLu4FnPUWv3Jxgj89QkFXLvX which sent 0.0087 BTC to 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 which sent 0.0001402 BTC to 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC.

In other words, payouts are funded from new customers buying contracts.

How do you explain that?

[clownius]

Im trying hard to post in that thread posts that may survive.  But yeah the moderation is harsh.

99.999% sure its yet another ponzi.

If its not they will go bust soon anyway with that cost base.

Yet more and more people are adding their sig and buying GH... Why are people so damned stupid?

[Syke]

You can also give MineThatCloud negative trust: https://bitcointalk.org/index.php?action=trust;u=411711

Be sure to select the "Negative - You were scammed or you strongly believe that this person is a scammer." radio button.

[Mabsark]

Proof of ponzi for MineThatCloud:

The payments were made form 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3.

0.0087 BTC was sent from 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC to 1JgxteZWCuZLu4FnPUWv3Jxgj89QkFXLvX which sent 0.0087 BTC to 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 which sent 0.0001402 BTC to 12wmRSVf1e6MTpmvGuUxreEXxbaRHkepuC.

More:

1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3 > 0.0087 > 1GSWxmZU3oHiyBA7PhoqE5ZrAN5YHtjbYx > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0002804 > 1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3

1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3 > 0.0087 > 1LTcF4xkch1d5Gb5yTkbGCUsjspHp9KWVp > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0002804 > 1PdvNQYCnWP9NftxE6gu5DvYVSnkgwnXu3

1s3DP7QaqwsRrTEn6UQBd9zPCmmvv6KW3 > 0.0087 > 1DzwbKnTXSJtnW2QXjE5EtV1TSSa5bDfki > 0.0087 > 1844aNo5gAssVSmUmLwk6qG61uBNdQswH3 > 0.0043462 > 1s3DP7QaqwsRrTEn6UQBd9zPCmmvv6KW3

[mayax]

all the cloud mining services are Ponzi

[im0rtel]

just wanted to say that op deleted all my posts hence he is a lying troll with dictatorial tendencies so ignore this thread people.

[jimmothy]

just wanted to say that op deleted all my posts hence he is a lying troll with dictatorial tendencies so ignore this thread people.

You mean the OP of the ponzi thread right? (The one you're advertising)

This thread is not self moderated.

[im0rtel]

indeed its not self moderated . the op has opened multiple threads on this subject. just found this one and was wondering whats going on. lol.

[jimmothy]

just found this one and was wondering whats going on.

Minethatcloud is a confirmed ponzi scheme. That's about it.

[Ombamaq]

new episode of PONZI
stay away from this
100% SCAM

[mlferro]

all the cloud mining services are Ponzi

this is true. I have no doubts.

[mayax]

all the cloud mining services are Ponzi

this is true. I have no doubts.

then you should post in all the Bit-x, Hashnest, KNC Cloud threads about that... the people should be aware that they invest in ponzies. it is ok to do that as long you know what to do

[marcotheminer]

all the cloud mining services are Ponzi

Just because a lot of mining companies have turned out to be ponzis doesn't mean all cloud mining companies are ponzis.