▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁ - page 65.

Puppet

legendary

Activity: 980

Merit: 1040

A real business with real real mining hardware could eventually steal customer coins (but could also be held responsible)
A (n anonymous) ponzi operation can only eventually steal customer coins (and can probably not be held responsible).

picolo

hero member

Activity: 1022

Merit: 500

Quote from: l3sny on February 08, 2015, 05:35:19 AM

Quote from: kingbruce on February 02, 2015, 02:53:47 PM

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

Not true. There are reliable businesses with real hardware and reasonable maintenance costs. Apart form that difficulty is going ups and downs so you can make good margins on trading and mining at the same time. Real hardware and mining at home now really sucks as the electricity costs are now high.

I would say that most businesses have real hardware and reasonable maintenane costs but even a real business with reasonable maintenance costs can fail or steal its clients.

l3sny

hero member

Activity: 859

Merit: 1000

Quote from: kingbruce on February 02, 2015, 02:53:47 PM

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

Not true. There are reliable businesses with real hardware and reasonable maintenance costs. Apart form that difficulty is going ups and downs so you can make good margins on trading and mining at the same time. Real hardware and mining at home now really sucks as the electricity costs are now high.

Muhammed Zakir

hero member

Activity: 560

Merit: 509

I prefer Zakir over Muhammed when mentioning me!

Quote from: Sine(X) on February 05, 2015, 11:31:13 AM

It's not clear what the price for 1Ghs? And what about 45% in a parameters of B1 mining contract?
Does somebody understand? Grin

To check that I registered and clicked 'Deposit Immediately' assuming an amount will show but they are asking my phone number to verify, without it, I can't proceed. Worst thing is that their mobile verification supports only US, UK, China, Japan and Singapore but I am not from any of these. It would be good if any else can check this, especially if you are a chinese.

Edit: After a little investigation, I think I got it:

Quote from: B1-1

Just need to cast 1 coin and you can permanently access a suit of real Bitcoin printing press B1 ，As the past benefits of Bitcoin,only several months be needed to get back the cost,and benefits should only be stopped when less than 0.5yuan/kw.Program One, users and vendors each enjoy 45% of net income after deduction of electricity. 10% of net income users through creating new mining machine, mining machine new revenue still owned by the parties.Program Two, manufacturers get electricity after deducting 45% of net income, after deduction of electricity users to get 55% of net income. It was open and transparent and fair. Introduce friends to buy you can earn high recommendation rewards

Quote from: B9-1 & B9-2

Just need to cast 9 coins and you can permanently access a suit of real Bitcoin printing press B9 ，As the past benefits of Bitcoin,only several months be needed to get back the cost,and benefits should only be stopped when less than 0.5yuan/kw,we collect 15% of benefits exclude power charge for equipment maintaining and running,it was open and transparent and fair. Introduce friends to buy you can earn high recommendation rewards（details）。

B9=(Hashrate：9000G/S & consumption：8.3/KW.H & power rate：0.5yuan/KW.H)85%permanent net income
Datas mentioned above are theoretical，real edition should be takes while calculating. And BW.COM ensure that the data is in the deviation of 5%,and we will maintain the whole machine in the 3 months after you buy it.

Please avoid words like 'Bitcoin printing press' as this is translated words, it won't be accurate.

-MZ

Sine(X)

member

Activity: 118

Merit: 10

Quote from: Muhammed Zakir on February 04, 2015, 10:36:55 AM

Quote from: MrTeal on February 04, 2015, 08:55:13 AM

Are they selling cloud mining? Their English site is a bit of a mess, but it seems like "The B Plan" might be some kind of cloud mining.

Yes, they do! And you are right, B Plan is cloud mining. There are 3 types: B1-1, B9-1 & B9-2.

Using Google translator:

Quote from: B1-1

1.47 PH/S...
Each B1 expected earnings yesterday: 0.016BTC- (1.05 × 0.5 × 24 hours yuan / kwh)/1396.000 yuan /BTC=0.007BTC, equivalent to 6.47 months left back this cycle.
One planned total output of the current currency : 1120.13910693BTC
Summary:
The total output of one program yesterday's coins : 15.54174BTC
Yesterday Net: 7.64674BTC
Yesterday electricity accounting : 22451.560 degree
Current electricity: 0.5 yuan / kWh

Quote from: B9-1

1.21 PH/S...
Each B9 expected earnings yesterday: 0.108BTC- (8.3 × 0.5 × 24 hours yuan / kwh)/1416.70 yuan /BTC×0.85=0.032BTC, equivalent to 7.26 months left back this cycle
The total output of the current currency Jiu plan : 617.379BTC
Summary:
Nine plans yesterday coins total output : 14.159BTC
Yesterday net : 5.019BTC
Yesterday electricity accounting : 25896 degrees
Current electricity: 0.5 yuan / kWh

Quote from: B9-2

2.93 PH/S...
Each B9 expected earnings yesterday: 0.107BTC- (8.3 × 0.5 × 24 hours 千瓦时 yuan / kwh)/1415.33 yuan /BTC×0.85=0.031BTC, equivalent to 8.60 months left back this cycle
The total output of the current currency Jiu plan : 812.865BTC
Summary:
Nine plans yesterday coins total output : 34.809BTC
Yesterday net : 11.938BTC
Yesterday electricity accounting: 64740 degrees
Current electricity: 0.5 yuan / kWh

Once again, this was translated using Google Translator, so the translated words may not be accurate. However, you can get an estimate details. The only thing I like about them is they display the electricity details(no matter whether it is correct or not). Anybody saw any other news about this cloud mining(atleast what they claim)?

P.S. In Hashrate Bank, they have mentioned some sort of interest in both BTC and LTC.

Edit : They actually mine and they already found 69 blocks. Reference: https://www.blocktrail.com/BTC/pool/bwpool.

-MZ

It's not clear what the price for 1Ghs? And what about 45% in a parameters of B1 mining contract?
Does somebody understand? Grin

suman66

full member

Activity: 210

Merit: 100

Quote from: dr1980m on February 05, 2015, 09:48:33 AM

They are a lot of bad news about Cointellect
maybe it was collaps too..

its very bad news then for all investors of this mining site

dr1980m

hero member

Activity: 938

Merit: 1000

They are a lot of bad news about Cointellect
maybe it was collaps too..

pajaperc

newbie

Activity: 54

Merit: 0

hey puppet!

i just wanna say thank you very much and that i truly appreciate your excellent work here.

please don't get tired of putting in great effort in this.

i believe that your thread here has been a pivotal factor regarding decision making for those who have invested in cloud mining recently.

there are a great number of people who are not active in the forum and are just constantly reading to get themselves updated (like me).

:-)

PeaMine

hero member

Activity: 979

Merit: 510

I agree, great service to the community Puppet

icanscript

hero member

Activity: 686

Merit: 502

I think this is a great thread and should be stickied to help new users determine who are running a ponzi scheme,

Thanks Puppet.

Muhammed Zakir

hero member

Activity: 560

Merit: 509

I prefer Zakir over Muhammed when mentioning me!

Quote from: MrTeal on February 04, 2015, 08:55:13 AM

Are they selling cloud mining? Their English site is a bit of a mess, but it seems like "The B Plan" might be some kind of cloud mining.

Yes, they do! And you are right, B Plan is cloud mining. There are 3 types: B1-1, B9-1 & B9-2.

Using Google translator:

Quote from: B1-1

1.47 PH/S...
Each B1 expected earnings yesterday: 0.016BTC- (1.05 × 0.5 × 24 hours yuan / kwh)/1396.000 yuan /BTC=0.007BTC, equivalent to 6.47 months left back this cycle.
One planned total output of the current currency : 1120.13910693BTC
Summary:
The total output of one program yesterday's coins : 15.54174BTC
Yesterday Net: 7.64674BTC
Yesterday electricity accounting : 22451.560 degree
Current electricity: 0.5 yuan / kWh

Quote from: B9-1

1.21 PH/S...
Each B9 expected earnings yesterday: 0.108BTC- (8.3 × 0.5 × 24 hours yuan / kwh)/1416.70 yuan /BTC×0.85=0.032BTC, equivalent to 7.26 months left back this cycle
The total output of the current currency Jiu plan : 617.379BTC
Summary:
Nine plans yesterday coins total output : 14.159BTC
Yesterday net : 5.019BTC
Yesterday electricity accounting : 25896 degrees
Current electricity: 0.5 yuan / kWh

Quote from: B9-2

2.93 PH/S...
Each B9 expected earnings yesterday: 0.107BTC- (8.3 × 0.5 × 24 hours 千瓦时 yuan / kwh)/1415.33 yuan /BTC×0.85=0.031BTC, equivalent to 8.60 months left back this cycle
The total output of the current currency Jiu plan : 812.865BTC
Summary:
Nine plans yesterday coins total output : 34.809BTC
Yesterday net : 11.938BTC
Yesterday electricity accounting: 64740 degrees
Current electricity: 0.5 yuan / kWh

Once again, this was translated using Google Translator, so the translated words may not be accurate. However, you can get an estimate details. The only thing I like about them is they display the electricity details(no matter whether it is correct or not). Anybody saw any other news about this cloud mining(atleast what they claim)?

P.S. In Hashrate Bank, they have mentioned some sort of interest in both BTC and LTC.

Edit : They actually mine and they already found 69 blocks. Reference: https://www.blocktrail.com/BTC/pool/bwpool.

-MZ

MrTeal

legendary

Activity: 1274

Merit: 1004

Quote from: Sine(X) on February 04, 2015, 04:50:21 AM

Does somebody use BW Pool?
https://www.bw.com

By organofcorti they have 20Phs+
http://organofcorti.blogspot.ru/2015/02/february-1st-2015-block-maker-statistics.html

Are they selling cloud mining? Their English site is a bit of a mess, but it seems like "The B Plan" might be some kind of cloud mining.

Sine(X)

member

Activity: 118

Merit: 10

Does somebody use BW Pool?
https://www.bw.com

By organofcorti they have 20Phs+
http://organofcorti.blogspot.ru/2015/02/february-1st-2015-block-maker-statistics.html

mayax

legendary

Activity: 1470

Merit: 1004

cloud mining is doomed.

acquafredda

legendary

Activity: 1316

Merit: 1481

Puppet needs more than thanks...

julian071

hero member

Activity: 1132

Merit: 818

VERY long blogpost of the CEO of Megamine about Cloudmining. Has some interesting points on how to distinguish between legitemate and non-legitemate companies. Puppet's list is way better but some interesting points none the less!

http://www.megamine.com/cloudhashingdoomed.php

Megamine is somewhat overlooked. They used to only offer fully inclusive packages, now also pay-as-you-go (with fees).

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: kingbruce on February 02, 2015, 02:53:47 PM

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

If you have anything legitimate to say, then why not just say it instead of dicking around.

kingbruce

newbie

Activity: 16

Merit: 0

Cloudmining does has a very bad rep. That is why with my friends who ask me should they get into cloudmining I tell them hell no. Me personally I still bring in about $4k a month from cloudmining but this I know is something temp. I tell them buy the hardware yourself from a true business preferably a business you can go into and tell them what you want and need. I was trying to help people recover from cloudmining on this forum but everyone started bashing me because I would not just come out and say what it was. But maybe the will listen know. Since we have more and more people loosing the cloudmining fight.

peligro

hero member

Activity: 593

Merit: 500

1NoBanksLuJPXf8Sc831fPqjrRpkQPKkEA

Quote from: jimmothy on January 31, 2015, 01:15:54 AM

GAWminers collapsed.

Finally!

This is the gold standard for mining ponzis. You have got to respect them the way they managed to keep continuing for so long and then provided the grand finish with Paycoin.

Tigggger

legendary

Activity: 1098

Merit: 1000

Someone mentioned this one to me, it actually made me laugh

http://www.minerking.com/

Sadly 100PH for $59 is out of stock

You can still buy

At least they are honest enough to show you will get $0 back

Topic: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁ - page 65. (Read 361524 times)