Possible $500,000 Bitcoin Cloud Mining Ponzi Scheme Uncovered
Roughly nine months ago, Bitcoin Foundation Chief Scientist Gavin Andresen made a rather interesting comment on Reddit in which he claimed, “I suspect many [cloud mining companies] will turn out to be Ponzi schemes.”
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https://bitcoinmagazine.com/20702/exclusive-possible-500000-bitcoin-cloud-mining-ponzi-scheme-uncovered/
As an IT professional, I'm going to offer some advise most people don't want to hear: STAY OUT OF THE "CLOUD"! There is no such thing, it's a marketing buzz word. Would you use "cloud" services for storing your data, pics, documents, etc if you knew the "cloud" you were connecting to was a basement in Cambodia with a drug lab upstairs and brothel next door? That's a "worst case" scenario but, you get my point right? You have no way to verify who runs it, who maintains it, where it is located and, most importantly, who has assess to the computers and storage drives that make up the infrastructure of any particular "cloud" operation.
It boils down to this: No matter what kind of marketing comes with the offer, stay out of the "cloud"...