Cloudmining 101 - page 6. | Bitcointalksearch.org

PulsedMedia

sr. member

Activity: 402

Merit: 250

This list bases on a few criteria, so one must do their own research first.
LTCGear has been so far good and so has been PBMining.
But i would never put money down on PETAmine, the payouts they give out is far less than what should be for 1Gh, plus other users seem to think it is a long con.
Criterias should include real world contact and reachability, a real person(s) behind this and has someone visited them etc.

EDIT: Tho thanks for doing the work, it does cut some of the work vetting these out

dyask

hero member

Activity: 854

Merit: 510

Quote from: dyask on November 20, 2014, 11:39:33 PM

Quote

ltcgear 1+3+4+5+6 => 5/7 = (very) suspicious (info welcome)

LTCgear is ending the temporary affiliate program so #5 will no longer be valid.

Seems like LTCgear is backing down on ending the affiliate program. They really should just end it!

Rupture

full member

Activity: 182

Merit: 100

Based on order numbers LTCGear has sold 1400 GH ..

1400 GH.

kalos1991

newbie

Activity: 13

Merit: 0

zencloud hi fees poor earning fast withdraw btc

dyask

hero member

Activity: 854

Merit: 510

Quote

ltcgear 1+3+4+5+6 => 5/7 = (very) suspicious (info welcome)

LTCgear is ending the temporary affiliate program so #5 will no longer be valid.

RoadStress

legendary

Activity: 1904

Merit: 1007

Good job Puppet! Look what you done: http://www.coindesk.com/chinese-bitcoin-mining-firms-transparency-push/ Grin

SDRebel

hero member

Activity: 571

Merit: 507

Quote from: yvv on November 20, 2014, 04:34:00 PM

Quote from: SDRebel on November 20, 2014, 01:55:00 PM

I suggest a #8, do they send payouts to the address of your choice : for example ltc gear does, but gaw/zen and zoomhash (dunno about others) don't, so you don't really have your money until you withdraw if you can.

This is what I hate about hashie and havelock the most. They don't have automatic payouts to the address of your choice, but even worse, their withdrawal fee is ridiculous.

wow, withdrawal fee? nasty

Keyser Soze

sr. member

Activity: 470

Merit: 250

Nice list Puppet.

Just like the old PMBs you would see around here, I would imagine that most cloud mining offerings are unprofitable, not actually mining or outright scams.

yvv

legendary

Activity: 1344

Merit: 1000

.

Quote from: SDRebel on November 20, 2014, 01:55:00 PM

I suggest a #8, do they send payouts to the address of your choice : for example ltc gear does, but gaw/zen and zoomhash (dunno about others) don't, so you don't really have your money until you withdraw if you can.

This is what I hate about hashie and havelock the most. They don't have automatic payouts to the address of your choice, but even worse, their withdrawal fee is ridiculous.

SDRebel

hero member

Activity: 571

Merit: 507

Quote from: jimmothy on November 17, 2014, 10:14:53 PM

About GAW, I don't think their pics/endorsement should count as evidence they are legit.

They claimed to have ~750-1000 GH/s worth of hashlets mining scrypt in Oct 2. At that time the entire litecoin network was 1037 GH/s.

I find it hard to believe the litecoin/altcoin network could sustain such massive dumping, and on top of that GAW found some mysterious way to make their payouts higher than normal the conversion rate from ltc to btc.

All the pics of GAW's hardware combined only account for a few % of what they are claiming. Someone counted ~300 x 40 MH/s units which is only 12 GH/s.

I could be wrong but I think you're considering the new Bitmain 5ph/s order as an endorsement but that is long after GAW claimed to be running several MW worth of hardware.

that was indeed a red flag. What they supposedly had vs ltc network rate...something was off

SDRebel

hero member

Activity: 571

Merit: 507

Quote from: skuser on November 20, 2014, 07:55:46 AM

Quote from: dyask on November 20, 2014, 05:06:21 AM

Okay this has been fun, but I have to get back to figuring out what I'm going to tell my wife if LTCgear does turn out to be a Ponzi scheme!

I can at least estimate that based on insane number of sales ltcgear made with his new 'product' (monitoring his shopping cart page shows 800+ sold in last 24 hours) there's high possibility that there will be more dividend payments because growing LTC difficulty can cause this pyramid work a bit longer as was explained. Even If he already sold 1000 GHs he only needs 150000 LTC this week to pay dividends which he collects in sales within one day.

BTW even now you can buy from him 350+ items at once if you wanted 60 GH/s of SCRYPT miners and had $250k USD spare cash - easy like that lol

while the ltc difficulty is a built-in mechanism whose output (ltc payout) is reduced (almost continously), ltcgear does multiplications that make up for the difficulty drops. While that alone is another flag (because multiplications are a bit too good), that just removes the ltc difficulty is a factor for what could be considered a scheme (it may just be a smarter scheme

)

SDRebel

hero member

Activity: 571

Merit: 507

Quote from: yvv on November 20, 2014, 10:10:17 AM

Quote from: Puppet on November 20, 2014, 03:55:35 AM

Quote from: raskul on November 20, 2014, 03:42:28 AM

i signed up and got 10GH/s free. if it ever accrues 1BTC i'll buy the 20GH/s required for cash-out Grin

i won't hold my breath!

LOL. Some freebee. Ill give you a PH if you want, I just wont let you cash out

.

They do allow you cash out if you buy 20Ghs. You still have your free 10Ghs when you buy. It would be ridiculous if they payed you just for signing up.

supposedly GAW is doing that with the free hashlet, but I haven't personally done it

SDRebel

hero member

Activity: 571

Merit: 507

yvv

legendary

Activity: 1344

Merit: 1000

.

Quote from: Puppet on November 20, 2014, 03:55:35 AM

Quote from: raskul on November 20, 2014, 03:42:28 AM

i signed up and got 10GH/s free. if it ever accrues 1BTC i'll buy the 20GH/s required for cash-out Grin

i won't hold my breath!

LOL. Some freebee. Ill give you a PH if you want, I just wont let you cash out

.

They do allow you cash out if you buy 20Ghs. You still have your free 10Ghs when you buy. It would be ridiculous if they payed you just for signing up.

skuser

sr. member

Activity: 291

Merit: 250

Quote from: dyask on November 20, 2014, 05:06:21 AM

Okay this has been fun, but I have to get back to figuring out what I'm going to tell my wife if LTCgear does turn out to be a Ponzi scheme!

I can at least estimate that based on insane number of sales ltcgear made with his new 'product' (monitoring his shopping cart page shows 800+ sold in last 24 hours) there's high possibility that there will be more dividend payments because growing LTC difficulty can cause this pyramid work a bit longer as was explained. Even If he already sold 1000 GHs he only needs 150000 LTC this week to pay dividends which he collects in sales within one day.

BTW even now you can buy from him 350+ items at once if you wanted 60 GH/s of SCRYPT miners and had $250k USD spare cash - easy like that lol

dyask

hero member

Activity: 854

Merit: 510

Quote from: Puppet on November 20, 2014, 03:27:55 AM

Quote from: hashie on November 20, 2014, 03:13:08 AM

Hi Puppet,

Please update Hashie's rating: https://bitcointalksearch.org/topic/m.9599671

-Sahra

I dont see whats there to update. So you are now reselling amhash, which is already rated. Your own so called hashrate remains as unproven and dubious as before (there is more than a sliver of irony in the fact you tout AMhash's provable hashrate). So all the red flags still apply.

To be honest, Im at a loss why anyone would buy amhash through you.

So they could lose 9% + $1.10 when they sell it? That has to be cheaper than HavelockInvestments! Right? Wink

On the bright side if they sell more than $110 worth it is cheaper than GAW's cut ...

I've been invested in Hashie for over a month now. Outside of good customer support, they don't have much going for them. So I haven't been adding to my investments. Heck I totally loath BTCjam and I have 25 times as much invested there as I do in Hashie. It is just sad.

Relative investments: (Of sites included here, except BTCjam which I just mentioned)
Hashie: 1 x
CEX.io: 1 x
BTCjam: 25 x
GAW: 500 x
LTCgear: 2500 x

Okay this has been fun, but I have to get back to figuring out what I'm going to tell my wife if LTCgear does turn out to be a Ponzi scheme!

Puppet

legendary

Activity: 980

Merit: 1040

At first glance, I see no proof of mining. No public mining addresses, no convincing pictures. They claim to be mining with GPU's, so lack of endorsement I think can be forgiven. They list a postal address, but I cant verify if its legitimate and their domain is once again whoisguard protected. So far, Id say thats enough reason to avoid it.

Anduck

legendary

Activity: 1511

Merit: 1072

quack

How about https://hashprofit.com/?

Puppet

legendary

Activity: 980

Merit: 1040

Quote from: raskul on November 20, 2014, 03:56:32 AM

Quote from: Puppet on November 20, 2014, 03:55:35 AM

Quote from: raskul on November 20, 2014, 03:42:28 AM

i signed up and got 10GH/s free. if it ever accrues 1BTC i'll buy the 20GH/s required for cash-out Grin

i won't hold my breath!

LOL. Some freebee. Ill give you a PH if you want, I just wont let you cash out

.

does it come with bouncy pie charts and meaningless graphs?

Yeah I can do it on condition you order and pay for another imaginary 2PH for a really low price.
And you agree to my terms that I can adjust mining fees whenever I feel like it.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: Puppet on November 20, 2014, 03:55:35 AM

Quote from: raskul on November 20, 2014, 03:42:28 AM

i signed up and got 10GH/s free. if it ever accrues 1BTC i'll buy the 20GH/s required for cash-out Grin

i won't hold my breath!

LOL. Some freebee. Ill give you a PH if you want, I just wont let you cash out

.

does it come with bouncy pie charts and meaningless graphs?

Topic: Cloudmining 101 - page 6. (Read 27846 times)