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Author Topic: Proof that MineThatCloud is a Ponzi  (Read 8260 times)
Rawted
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January 17, 2015, 03:08:16 AM
 #21

Confirmed. Painted him red. Good catch, Mabsark and Skye.

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January 17, 2015, 10:29:15 AM
 #22

Confirmed. Painted him red. Good catch, Mabsark and Skye.

I'm sorry but i've still not been given proof/evidence that they are???

I hear you guys shouting about they need to prove they are legitimate,
but don't you also need to prove they are not??

I've seen a lot of I believe this, and I think this and because I said..

But after asking numorous times I've been pointed at the same things which quite frankly is Not proof, it's stuff they have even mentioned and clarified.

I know i'm risking here giving MineThatCloud the benifit of the doubt (and yes I have risked btc with them)
But I really don't see how they can warrent being  judged so badly.

Only they know the whole profit margins and costs and losses etc, and yes we can make speculated guesses and averages, but they did say they had
investors and a prior budget and would make a small loss and were relying on btc prices rising.

I and a few other users I have spoke to have messaged them alot on their site to find out the answers we needed and got a lot of information about costs/hardware/personnel etc...

i guess because they don't answer everyone personally, some of you have taken a dislike to them.

(Ok I will have to do a suicidal face palm if I am wrong and they end up being a scam and will apologise to each person individually that I doubted, but yeah i'm gonna
trust them for now, more fool me you might say)

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January 17, 2015, 10:51:27 AM
 #23

guys they are paying daily and yelling scam doesnt make it so . you have to prove it . so far 0 real evidence for a scam has been provided.
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January 17, 2015, 11:19:55 AM
 #24

Stop reversing the burden of proof.  You're asking to prove a negative (that there is no mining operation behind this) and that is typically impossible
The burden of proof lies with whoever is asking for your money to provide positive proof it is a legitimate operation, and that is trivially easy for a legitimate company.
Lack of positive evidence is all you need to know that there is no teapot orbiting the sun, that pink flying unicorns dont exist and that minethatcloud is not a legitimate operation even though no one can prove any of those statements.

But let me prove it anyway: I'll bet anyone 1 BTC through escrow that 'minethatcloud' will stop honoring its contracts within the next 9 months.
And no one will take me up on this bet, because everyone sane knows its a ponzi.
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January 17, 2015, 11:30:12 AM
 #25

puppet you are completely wrong .

minethatcloud is INNOCENT untill proven guilty. you have to prove him guilty . he doesnt have to prove his innocence.

yelling scam scam scam doesnt make it a scam it just makes you a troll.

also willing to bet on it is not proof for a scam . however it does show that you dont know and that you are willing to gamble on it .
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January 17, 2015, 11:48:59 AM
 #26

puppet you are completely wrong .

minethatcloud is INNOCENT untill proven guilty. you have to prove him guilty . he doesnt have to prove his innocence.

yelling scam scam scam doesnt make it a scam it just makes you a troll.

also willing to bet on it is not proof for a scam . however it does show that you dont know and that you are willing to gamble on it .

WTF you talking about. Business is in question and they have to prove they legit. maybe less CSI for you my man.


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im0rtel
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January 17, 2015, 11:53:54 AM
 #27

no sir they do not have to prove anything. if you have a problem with it simply stay away from it. nobody is forcing you to buy anything . by the looks of it , you bought nothing , hence lost nothing .

yet you still think and act trollish.
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January 17, 2015, 12:01:25 PM
 #28

puppet you are completely wrong .

minethatcloud is INNOCENT untill proven guilty. you have to prove him guilty . he doesnt have to prove his innocence.

yelling scam scam scam doesnt make it a scam it just makes you a troll.

also willing to bet on it is not proof for a scam . however it does show that you dont know and that you are willing to gamble on it .

I don't agree with you.
This forum is not a court of law, no one will be sent to prison because of someone else's opinion. It obviously suits some people to frame  legitimate criticism in this way so as to deflect from obvious shortcomings in the various schemes being promoted as cloud miners.

In an anonymous environment where caveat emptor applies even more than the fiat world due to lack of redress, due dilligence is vital.
In my opinion, Puppet is undertaking public due dilligence, asking questions within a reasonable framework, trying to establish whether or not money being invested in these schemes has a chance of achieving the results promised.

The check list that he applies in his 101 thread https://bitcointalk.org/index.php?topic=878387.0 is reasonable and should be welcomed as the basis for investment decisions in a sector which is rife with scammers.

Keep up the good work, Puppet.

Extraordinary Claims require Extraordinary Evidence
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January 17, 2015, 12:03:13 PM
 #29

also willing to bet on it is not proof for a scam . however it does show that you dont know and that you are willing to gamble on it .

No, it shows I put my money where my mouth is, because I do know, and the fact you and everyone else is not willing to take the bet shows you know too.
Tell me, why would you not take my bet?  If they are not a scam, then the 200% ROI would be far better than you can ever hope to get from investing in mining.  Even if there is a 50/50 chance of this being a scam, the bet would be better than an investment.  So why not take it? Ill tell you why: because you know too. Prove me wrong.
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January 17, 2015, 02:25:22 PM
 #30

I'm sorry but i've still not been given proof/evidence that they are???

Do you or do you not know what a ponzi is?

Here is what wikipedia says: is a ponzi:

Quote
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

Here, are some of MineThatCloud's payouts:

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

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


Are you claiming that those payments don't fit the above definition of a ponzi?
Are you claiming that those payments are fake?

Based on the above evidence, any sane and logical person MUST conclude that MineThatCloud is running a ponzi. Now, given that they have been proven to be running a ponzi, it's all the more essential that this "service" provide proof of mining. That's another thing any sane and logical person would conclude.

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January 17, 2015, 02:35:26 PM
 #31

I'm sorry but i've still not been given proof/evidence that they are???

Do you or do you not know what a ponzi is?

Here is what wikipedia says: is a ponzi:

Quote
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

Here, are some of MineThatCloud's payouts:

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

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


Are you claiming that those payments don't fit the above definition of a ponzi?
Are you claiming that those payments are fake?

Based on the above evidence, any sane and logical person MUST conclude that MineThatCloud is running a ponzi. Now, given that they have been proven to be running a ponzi, it's all the more essential that this "service" provide proof of mining. That's another thing any sane and logical person would conclude.



You are completely wrong, How can you not see that?

We have funds in a mining address, that we have clearly stated we will not give out as of yet.

Sure we were using some of those funds to pay people out, after all once paid they are our funds to pay out with ( thats the only proof you have? thats just laughable )

When time requires it we will put BTC into our payout address from the mining address, but for the time being

We dont need to do that yet

Now stop clutching at straws and get on with your petty life, Its not our job to run our service by your regulations.

Infact just to add, we found a block this morning
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January 17, 2015, 03:01:24 PM
 #32

I'm sorry but i've still not been given proof/evidence that they are???

Do you or do you not know what a ponzi is?

Here is what wikipedia says: is a ponzi:

Quote
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

Here, are some of MineThatCloud's payouts:

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

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


Are you claiming that those payments don't fit the above definition of a ponzi?
Are you claiming that those payments are fake?

Based on the above evidence, any sane and logical person MUST conclude that MineThatCloud is running a ponzi. Now, given that they have been proven to be running a ponzi, it's all the more essential that this "service" provide proof of mining. That's another thing any sane and logical person would conclude.



You are completely wrong, How can you not see that?

We have funds in a mining address, that we have clearly stated we will not give out as of yet.

Sure we were using some of those funds to pay people out, after all once paid they are our funds to pay out with ( thats the only proof you have? thats just laughable )

When time requires it we will put BTC into our payout address from the mining address, but for the time being

We dont need to do that yet

Now stop clutching at straws and get on with your petty life, Its not our job to run our service by your regulations.

Infact just to add, we found a block this morning

wow big font
calm down BOS
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Mabsark
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January 17, 2015, 03:05:37 PM
 #33

Quote
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

Sure we were using some of those funds to pay people out, after all once paid they are our funds to pay out with ( thats the only proof you have? thats just laughable )

Well now we have you admitting to running a ponzi as well as the undeniable evidence of you doing so.

Lets just pretend that you are legitimate for a second though. You could have avoided all this simply by acting like a legitimate service and providing proof of your legitimacy instead of acting like every other cloud mining scam that came before you. Your insistence on acting exactly like a scammer has led you to be treated like a scammer and now your reputation is in tatters.
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January 17, 2015, 03:06:08 PM
 #34

Well I guess that settles it.

Minethatcloud is definitely not a ponzi because they say they aren't.

Afterall, nobody lies on the internet.
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January 17, 2015, 03:32:33 PM
 #35

and it appears some people in this thread will only take the proof in the form of getting ripped the fuck off.


This post sums up why all this bullshit is a scam
Read It. Hate It. Change the facts that it represents.
https://bitcointalk.org/index.php?topic=1606638.msg16139644#msg16139644
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January 17, 2015, 06:45:05 PM
 #36

@MineThatCloud : The block? Proof that YOU mined the block? A TX which shows that you moved 25BTC to payout address. If you cant procide these, atleast a signed message which has newly generated 25BTC would suffice, atleast mine.

@Investors : Don't forget about HashProfit. These was the things said by people and it just turned out to be a scam. This is obviously a ponzi too. I don't think this will go for long as the investors are lower than they are expecting. Almost all of the real cloud mining services don't send the Bitcoins to their payout address because they get 25BTC from mining atleast one time a day or a few days. and another thing what I found is that, unlike real cloud mining services, almost all of the ponzis have perma-payout address. What I have to say is "You oiught to be careful and don't invest more than what you can lose!"

   ~~MZ~~

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January 17, 2015, 07:28:28 PM
 #37

(Ok I will have to do a suicidal face palm if I am wrong and they end up being a scam and will apologise to each person individually that I doubted, but yeah i'm gonna
trust them for now, more fool me you might say)

Quoted for posterity. I am 100% sure you will not receive full payouts for 1 year.

I've shown that by using the absolute best numbers possible, they're paying out $1000 for every $500 they bring in. It's not possible for them to stay in business. They will fold before you finish your contract.

You bought mining hashpower. You have never received a mined bitcoin from them. You received some of your own bitcoins back. You invested in a ponzi.

Those of us who've been in bitcoin for years have seen this happen time and time again. You will learn the hard way. For your sake I just hope your lesson wasn't too expensive. Unfortunately by feeding these scams you are enabling further scams. And that's bad for the bitcoin community. I hope you apologize profusely when you lose.

Buy & Hold
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January 17, 2015, 07:49:06 PM
 #38

(Ok I will have to do a suicidal face palm if I am wrong and they end up being a scam and will apologise to each person individually that I doubted, but yeah i'm gonna
trust them for now, more fool me you might say)

Quoted for posterity. I am 100% sure you will not receive full payouts for 1 year.

I've shown that by using the absolute best numbers possible, they're paying out $1000 for every $500 they bring in. It's not possible for them to stay in business. They will fold before you finish your contract.

You bought mining hashpower. You have never received a mined bitcoin from them. You received some of your own bitcoins back. You invested in a ponzi.

Those of us who've been in bitcoin for years have seen this happen time and time again. You will learn the hard way. For your sake I just hope your lesson wasn't too expensive. Unfortunately by feeding these scams you are enabling further scams. And that's bad for the bitcoin community. I hope you apologize profusely when you lose.

Quoted for posterity. we will like to return to this thread in a year and then you can appologise.

and actually its people like you that ruin this community by slandering legit services, people like you are why people are afraid to use bitcoin.

You profile claims you are a legendary member, more like a legendary idiot.
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January 17, 2015, 08:03:54 PM
 #39

Quoted for posterity. we will like to return to this thread in a year and then you can appologise.

and actually its people like you that ruin this community by slandering legit services, people like you are why people are afraid to use bitcoin.

You profile claims you are a legendary member, more like a legendary idiot.

Ouch, you hurt my feelings when you call me names. Now I'm crying. My mommy doesn't like it when I cry.

Put up or shut up. You have shown no legitimate operations. Look at your trust ratings. Many senior forum members speaking out about your operation. Only 1 newbie account to defend you. You are doing everything wrong.

You hide behind a brand new account. You won't show proof you are mining. You hide behind a self-moderated thread and delete lots of posts. Legitimate operations don't do these things. I will continue doing everything I can do damage you and your scam. Congrats on making an enemy.

Buy & Hold
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January 17, 2015, 08:58:38 PM
 #40

Quoted for posterity. we will like to return to this thread in a year and then you can appologise.

and actually its people like you that ruin this community by slandering legit services, people like you are why people are afraid to use bitcoin.

You profile claims you are a legendary member, more like a legendary idiot.

Ouch, you hurt my feelings when you call me names. Now I'm crying. My mommy doesn't like it when I cry.

Put up or shut up. You have shown no legitimate operations. Look at your trust ratings. Many senior forum members speaking out about your operation. Only 1 newbie account to defend you. You are doing everything wrong.

You hide behind a brand new account. You won't show proof you are mining. You hide behind a self-moderated thread and delete lots of posts. Legitimate operations don't do these things. I will continue doing everything I can do damage you and your scam. Congrats on making an enemy.

I am so hoping to see you having to make an apology Tongue

I am not against you but your attitude and methods have left alot to desire. So much in this world going on and your making enemies with people on the internet that you don't know... Fun Tongue

You should read more aswell as on the post and on the other posts there are alot more people than just me (so no just 1 newbie)
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