Cloudmining 101 - page 11. | Bitcointalksearch.org

Puppet

legendary

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Quote from: Strainer on November 17, 2014, 09:35:51 AM

Hi,

CoIntellect.com 1+2+3+4+5+6+7++ => 7/7 = Ponzi (+ already no longer paying out + requiring likely malware/wallet stealing software)

May I ask where you read they aren't paying? Just curious as I have looked into that site a little and got the same conclusion, something seemed fishy about it.

Read it on a few places, but on closer inspection its that they require "validation" to process payouts. Ill update my op but it doesnt sound like a smart move to hand out lots of personal info to these scammers.

Some more gunsmoke here:https://medium.com/@dnivi3/rolling-up-the-cointellect-scam-60787a30f9a4

dyask

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Quote from: Puppet on November 17, 2014, 08:04:30 AM

Quote from: dyask on November 17, 2014, 07:51:00 AM

For LTCgear the operator is well know. (Chris and also post on Litecointalk.org as beekeeper.) While sometimes slow to response he does respond to email. So I don't think #6 applies.

Do you know for sure who to sue if he runs off with the money? If not, #6 applies. I also dont get why he would use whoisguard if he is "well known":
http://whois.domaintools.com/ltcgear.com

By that standard, every site in existence would have a 7. What you are demanding doesn't mean anything. Chris is a real ASIC designer and well know in the community. He is a real person. Doesn't mean that he or anyone else couldn't run off with the money though.

For the record, LTCgear comes with a crappy website. Clearly not a polished web presence. Whoisguard is probably a default. It was on a site I setup for my wife and I never asked for it. That isn't a good standard.

Quote

Also neither should there be #7. You can transfer shares and many online stores have been set up to sell shares. Even more users are selling their own shares. So there is a clear exit strategy.

Do you have a link?

It is only every account page just under the shares. You can transfer a share to any other user. You can go to LTCgeartalk.net and see tons of people selling LTCgear shares.

Thenen

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You probably should also add in 8, the cloud mining has been operating for more then a year. Usually ponzi don't last long..

Strainer

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Hi,

CoIntellect.com 1+2+3+4+5+6+7++ => 7/7 = Ponzi (+ already no longer paying out + requiring likely malware/wallet stealing software)

May I ask where you read they aren't paying? Just curious as I have looked into that site a little and got the same conclusion, something seemed fishy about it.

nguyenducquy

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well, thanks for your information. Its very usefull Cheesy

. In my opinion, there are no reasons to invest in cloudmining now, ROI is too long X_X

Puppet

legendary

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Quote from: RussianRaibow on November 17, 2014, 09:13:16 AM

I'd recommend you to include HaveLock in your list. They are taking people's money and investing it in multiple cloud mining services and thereby taking there share. If any cloud service fails, they wont be responsible, but they'll take the cut from people's profit. HaveLock is the master of SCAM.

This thread is about cloudmining, in particular cloudmining services that dont mine.
Havelock as a platform is quite a different proposition. I have no evidence they are scamming (I do have evidence they act illegally, but thats quite a different story). Even if they are scamming, it doesnt belong in this thread.

RussianRaibow

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I AM A SCAMMER

Quote from: Puppet on November 17, 2014, 09:07:44 AM

Quote from: nguyenducquy on November 17, 2014, 09:00:35 AM

can i ask you how can you make a full investigation on a website? not only cloudmining but also some PTC sites. I dont know how to track their address X_X

Nope, but you can apply much of the above logic to any website that is asking you money. If there is any doubt, assume its a scam. In bitcoin land thats a fairly safe bet.

I'd recommend you to include HaveLock in your list. They are taking people's money and investing it in multiple cloud mining services and thereby taking there share. If any cloud service fails, they wont be responsible, but they'll take the cut from people's profit. HaveLock is the master of SCAM.

Puppet

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Quote from: hashie on November 17, 2014, 08:53:27 AM

Try again with an account more than a week ago.

Says the ponzi operator that registered a month ago Roll Eyes

Puppet

legendary

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Quote from: nguyenducquy on November 17, 2014, 09:00:35 AM

can i ask you how can you make a full investigation on a website? not only cloudmining but also some PTC sites. I dont know how to track their address X_X

Nope, but you can apply much of the above logic to any website that is asking you money. If there is any doubt, assume its a scam. In bitcoin land thats a fairly safe bet.

BitcoinExchangeIndia.com

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Quote from: Jybrael on November 17, 2014, 09:00:47 AM

Thank you for sharing the information it was very helpful. Hats off to ya mate. Is it possible for me to ask you to look into a website and see if they are legit or not?

Which website ? I think all are covered in the list above...

Jybrael

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Thank you for sharing the information it was very helpful. Hats off to ya mate. Is it possible for me to ask you to look into a website and see if they are legit or not?

nguyenducquy

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can i ask you how can you make a full investigation on a website? not only cloudmining but also some PTC sites. I dont know how to track their address X_X

raskul

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well compiled, and most likely totally 100% correct.

hashie

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Quote from: Caernarvon on November 17, 2014, 08:48:00 AM

Hashie is 100% a ponzi and the only people who can't see that are the blind ones. If you follow the blockchain and there address you will see they use customer deposited funds for payouts and also hide behind a protected whois

https://www.namecheap.com/domains/whois/results.aspx?domain=hashie.co

Try again with an account more than a week ago.

Which competitor are you from?

-Sahra

Caernarvon

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Hashie is 100% a ponzi and the only people who can't see that are the blind ones. If you follow the blockchain and there address you will see they use customer deposited funds for payouts and also hide behind a protected whois

https://www.namecheap.com/domains/whois/results.aspx?domain=hashie.co

Puppet

legendary

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Quote from: Strainer on November 17, 2014, 08:30:26 AM

CoIntellect.com is another website I would check out.

Added. Seems to be far worse than "just" a ponzi.

Strainer

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CoIntellect.com is another website I would check out.

hashie

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Quote from: Puppet on November 17, 2014, 08:21:55 AM

The collapse of this kind of ponzi is automatically slow since payouts are only a small fraction of the initial investment and get slowed down further by increasing difficulty. There is no reason to artificially limit sales.

Not if you're offering hashpower at ROI periods that is comparable to pirateat40's 7% weekly.. in which case you must limit sales in order to prevent your ponzi from collapsing.

Have you researched LTCGear's pricing at that time, as well as their supposed pictures which are FPGAs that could cover maybe 5 MH total?

-Sahra

Puppet

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Quote from: hashie on November 17, 2014, 08:17:56 AM

4) It makes more sense for us to sell hashpower (even if it exceeds our capacity), and acquire the hardware later. This is in our terms and conditions by the way. In fact, a Ponzi would be inclined to limit hardware in order to prevent the Ponzi from collapsing too fast.

The collapse of this kind of ponzi is automatically slow since payouts are only a small fraction of the initial investment and get slowed down further by increasing difficulty. There is no reason to artificially limit sales.

And thanks for acknowledging you are selling hash rate that you do not own.

hashie

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Quote from: Puppet on November 17, 2014, 05:42:17 AM

4) Open ended IPO
Unless the cloud mining is operated by the asic vendor himself, you can not sell an unlimited amount of hashrate. Hardware takes (usually a long time) to order, arrive and deploy. Any company that doesnt limit sales or make public how much hashrate they sold vs what they have deployed should be considered extremely suspicious.

5) Referral programs and social networking
Referral programs, especially ones that pay almost 10%, are a huge red flag. The mining market is cut throat with razor thin margins. No real company can afford to pay 10% referrals on below market cloudmining prices. Referral programs almost always serve only to feed the ponzi and provide financial incentive to posters to lie about the true nature of the company. Never trust anyone with a referral link in their sig.

4) It makes more sense for us to sell hashpower (even if it exceeds our capacity), and acquire the hardware later. This is in our terms and conditions by the way. In fact, a Ponzi would be inclined to limit hardware in order to prevent the Ponzi from collapsing too fast.

5) Our affiliate rates are 3% and we're considering lowering it. Referral programs that offer 10% are obviously scams, but our rate is nowhere near that.

-Sahra

Topic: Cloudmining 101 - page 11. (Read 27812 times)