Topic: Amit Bhardwaj, the Gainbitcoin thief and liar. - page 7. (Read 63714 times)

Have you got any info if top people have moved to this company?

You already described the situation accurately.

I have been patiently about this so far, but after some weeks of " congestion" and " heavy payout load" lies i don't believe their bullshit anymore.  Their support is suddenly vanished too, and now they made it even impossible to raise a support ticket! They play hide and seek already.
All the signs are there....the ship is going down!  

Luckily i had my investment back and due to the increase of BTC price i'm good.

Gainbitcoin, Coinbank, Amit Bhardwaj and whoever were involved....go f@ck yourself!

Exactly. They've also already started stealing funds. If the Coinbank team processes withdrawals manually, the Bitcoins should not be lost if the user looses the backup phrase. Makes no sense to me at all. I've read more than 3 instances of the Coinbank team telling their users have their BTC because they didn't write down the backup phrase. What a load of BS.

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Do we have enough evidence to file an FIR?

Thank you for shared details. After a while it was bound to happen. Classic MLM scam goes with regular payouts for few months, top-level recruiters(leaders) get their profit. The promoter/owners are projected as God or The ONE, who is honest and hard working. Owner will transform those middle class and poor to Rich. After the gap between incoming money and outgoing money shortens, payouts gets delayed. Various restrictions comes into picture. This goes on for while. And on one fine day owner is goes missing probably to some remote country with bitcoins/money collected from scheme.

The problem is, it looks like they have made the system difficult for users to get their payouts. They says there is Blockchain congestion which was there some time ago but not always and not there currently, because other transactions are happening smoothly in minutes. They says there is very much load on their servers and that is why that 100% graph is not coming down and hence people are not able to raise withdrawal requests. They are making fool of people, it is simple if you have BTC's and you want to give payout to people you can simply put more servers to process more requests to manage laod.

Apart from that they are also stealing from payout as transaction fee, the said payout is lesser than what it suppose to be. Payout transaction fee is low like hell that their transactions are taking 3-4 days to confirm. This is their another source of income.

By that manual process they already stopped people who invested .5 and .1 BTC contracts to get their payouts because the withdrawal request can't be made lesser than .05 BTC. Its all about that they don't want to pay the people. Server load can be managed by adding more servers but if they don't want to pay then they will come up more of these kind of hassle full options.

By going through some of the comments on the Play store, I see that they process manual withdrawals but also have a 12 character private key.


Check here: https://play.google.com/store/apps/details?id=info.coinbank.wallet&hl=en

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What I don't understand is, if they have access to the Bitcoins, what's the point of the private key?
And if that really is a private key, it would be a good experiment to try to import it in some other application to see if the funds are still there.
Because it seems that the wallets are not really on-chain wallets and the private key is just a sham to look legit.

Would be worth a try.  If it does work, it would be easier for users to withdraw their funds then.

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Looking through the comments, it also seems like they are charging a high fee for withdrawals, but not paying it to the miners as the tx doesn't get confirmed for 3-4 days.

Can anyone here share their experience with Amit's shit application?

Re ASSOCHAM event: GB Miners, not Gainbitcoin, were a "blockchain partner" at a cost of Rs. 5 lakh for which

Their logo was included in the backdrop/hoardings
Their leaflets were in the delegate pack
They had a speaking slot, three standees and ten passes

It's fairly common for organisers of these sort of events to take sponsorship money and ask few questions, see Onecoin, Bitclub Network, DeOS and many many others. Also most Chamber of Commerces' knowledge about crypto can be written on the back of a postage stamp.
There would have been little point in attempting to raise anything controversial at an event like this, security usually gets called.
It's a showcase/propaganda opportunity, not real.

Unilaterally changing payment terms, forcing investors to use an admin operated payment system, reverting to manual, easy fatal errors built in as "security", are all classic Ponzi operator tactics designed to extend a scheme's life.

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Was just checking LinkedIn and Amit Bhardwaj hasn't mentioned "GainBitcoin" in his experience.
He has mentioned every other "project" that he is working on, except GainBitcoin. I wonder why. 

https://www.linkedin.com/in/amitbitcoin/

Also, you should check out the comments on his articles on there.
People see through his bullshit.

https://www.linkedin.com/in/amitbitcoin/recent-activity/posts/

Not invested a penny in fraud. However I've seen this fraud flourished among colleagues and most of them have taken personal loan just to invest in this scheme. Now these people have lost their mind/money when these new changes. I've been asked to invest in gainbtc however after reading this thread I started investing it from my side. I found more evidence of fraud nature of it.  Sad part is there are people who are still joining it.

You indeed have vivid imagination! But that is in wrong direction.

Well the above note was general and not specific to you. Also just imagine you had invested your hard earned money of years and invested in this scheme and you not getting returns so will you be waiting for the right occasion or will ask him either return the money or give the status of it?

Neither I visited ASOCHAM nor would have received any answers because that was not the platform. More importantly it is the investors who invested their money in gainbtc should do that.

Well how many actually visited the event which has just got over and Amit himself was present and he did presented in this event. You could have directly asked him all the queries you all had about this gainbitcoin live.
Check the below link .



https://bitcointalksearch.org/topic/national-summit-bitcoin-blockchain-3march-delhi-1781521

For those who were making point on regular payouts from gainbitcoin, check the reviews posted on the coinbank app's playstore/appstore .  

[https://play.google.com/store/apps/details?id=info.coinbank.wallet&hl=en

Some handpicked some reviews which narrating ongoing issues in gainbtc model.
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Roshan G
*****PLEASE TEAM OPPOSE THE MANUAL WITHDRAWAL PROCESS***** This is something we do not want as we have invested our BTC with multiple accounts and now OUR BTC STUCK WITH GB. Other Programs do auto withdrawal only and with the wallet they want. ONLY GB IS FORCING FOR COIN BANK WHICH TAKES HELL LOT OF TIME FOR TRANSACTION TO BE COMPLETE. THERE IS NO PHONE NUMBER AVAILABLE OF SUPPORT TEAM AND WE HAVE TO WAIT WAIT AND WAIT FOR TRANSACTION TO BE CONFIRMED HERE. I am so pissed with this app as other mention with the manual withdraw my money stuck and now I can not withdraw until it reaches 0.05 This is really fooling around with coinbank. I am more than happy with zebpay or Unocoin. This app takes too much time to transfer our BTC. I really feel this is the way to fool us around.

Rajesh M:
⚠Attention⚠ Team Please Merit Aap Sab Se Request Hai Ki , Menual Withdrew Ka Puri Tarah Virodh Kare, Air Sab log Iska Prachaar Kare Aur Help & Support Mai Saare Log Ticket Raise Kare Rojana Kare Takki Amit Bhardwaj Ke Samne Yeah Baat Aaye Aur Yeh Menual Option Ko hatha de


Shekhar S
If you loose your backup phrase or misspellings the same. You will lost your valuable Bitcoin. No system for get back of your Bitcoin. My friend lost 1.5 BTC

DHARMESH G
very week point in this app....................... 1 No way to raise a ticket ? 2 no way to call support team ? Need help asap 3 no way to bitcoin cash received in bank account we all r depend to zebpay wallet.... bit coin pending to conform for sending in zebpay wallet from your side last 1 day very long time continue.....?
===================================================================================


Just check first review from Roshan G
- Payment system has been changed. That too without any intimation to users. This has created rage, frustration among the investors.
- Now these investors who have been receiving payouts regularly till now, have to get the payouts by manually requesting the payouts. This is particularly affecting majority of users who have created dummy account or farmed account of and invested 0.1 btc contracts from gainbtc.
- if any one here who has invested in gainbtc would have better idea about ongoing chaos in gainbtc then they could contribute here.

- above mention major points 1) forceful use of coinbank app for receive and withdrawal   2) New condition put on withdrawal Limit
1. Forced investor to use the coinbank app for withdrawal or receipt. There are increasing cases of payments and transactions getting delayed over 2 days.
2. New condition on withdrawal limit:   It seems that Mr. AB has implemented limit on withdrawal. That is minimum amount one could withdraw is 0,05. This mean those who have account-farm or accounts with contract worth 0.1btc will get 0.01 per month. This mean these contracts will have to wait for five and half or six months for withdrawal.
Just imagine the consequences of this. Those with 100 or 200 contracts worth 0.1btc will  be screwed because 100 contracts worth 0.1 are now stuck for five months or more to get withdrawal from those accounts to reach 0.05btc threshold.

This must have definitely caused havoc for those who were defending the gainbitcoin for there regular payouts.

apparently these people are running a ponzi scheme and going to be a big fraud. Lots of people will earn who are high on pyramid and lots are going to loose who are below the chain. There are many youtube videos where people claim that they are very happy and earning a lot of money and thanking this company and they are thinking that they are part of a very successful business venture.

No matter how many such schemes lauched and failed in the past but easy money is what people look for and want to believe in. TMPF did a very indepth analysis and its crystal clear that there is no way so much profit can be earned in any business watsoever.

Because I bumbed it to increase my post count. I'm almost a full member, new to this forum.

Edit: Oops! Wrong sockpuppet.

Why are we still discussing this SCAM schemes...

Edit: It might be paid journalism/news  from gbminers/gainbitcoin .  What cointelegraph missed was picked up correctly by coinjournal.net[1] .  Many of articles found online are more like one side story without any investigation. Coinjournal.net  have also unwrapped scam nature of gainbitcoin run by promoter of gbminers and exposed that coinbank is rebranded version of opensource app [2]


[1] http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/
[2] https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en (https://play.google.com/store/apps/details?id=com.bitpay.wallet&hl=en)

This is ridiculous. Shouldn't sites like cointelegraph do some basic due diligence before publishing articles?
This one hasn't even been classified as promotional material.

Maybe because the dude is busy with preparing his keynote presentation as the alternate replacing Larry Christopher Bates recently expunged from the list of speakers due to blow-back from the dick-eating-cunts community.

Why not make a video explaining all this then or make an open forum discussion answering everyone's queries?