Is it just me, or did CEX actually admit they never had any hardware?
https://bitcointalksearch.org/topic/m.10151684
They kind of sidestepped the question of another poster about trying to redeem GH/s for shipped hardware.
Topic: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁ - page 72. (Read 361551 times)
There was just an attempt to start a signature campaign for a "new" "cloud mining service" called MineThatCloud.
I had the following post deleted:
I edited in that last line and shorty afterwards, all posts in the thread were deleted, the campaign was closed and the thread locked.
Edit: MineThatCloud just appeared in the Service Announcement section
I had the following post deleted:
Quote
Before you even post a link offering a cloud mining service, take a look at this thread and try to provide the evidence puppet asks for if.
Also, you FAQ makes no mention at all of maintenance fees. Let me guess, they're included in the price.
If you can't do, don't bother offering your service.
As for this sig campaign, only an idiot would take up your offer without escrow and a legitimate escrow may be hard to find if you can't proride any evidence of legitimacy.
This is just THMining mining (that got slaughtered) under a new name and design.
Also, you FAQ makes no mention at all of maintenance fees. Let me guess, they're included in the price.
If you can't do, don't bother offering your service.
As for this sig campaign, only an idiot would take up your offer without escrow and a legitimate escrow may be hard to find if you can't proride any evidence of legitimacy.
This is just THMining mining (that got slaughtered) under a new name and design.
I edited in that last line and shorty afterwards, all posts in the thread were deleted, the campaign was closed and the thread locked.
Edit: MineThatCloud just appeared in the Service Announcement section
Can you link to a test of anyone getting 0.3J/GH using SPTech gear?
Just did some heavy googling, and I came up dry. I could almost swear someone heavily undervolted an SP20 to get it...
Or maybe I imagined it
No, they do not pay for anything, nobody has ever seen a single DC of CEX. Bitfury chips went on negative equity long time ago more or less at the time the Jupiters stopped to be productive.
Bitfury is still among the most power efficient chip, achieving ~0.75W/GH at the wall. So far only Bitmain is doing significantly better, and only since a few weeks. So it all comes down to their electricity cost.
You will note however, that even KnC has not shut off their miners, despite considerably worse efficiency. Clearly they still think its operationally profitable.
Just going to point out that SP-Tech miners range between 0.3w/gh and 0.6 w/gh based on how much you overclock/underclock. As well, KnC Neptunes pull about 0.5 w/gh (very good efficiency).
Not sure if it counts but BE300s chips from Asicminer are currently pulling 0.3 w/gh on stock clocks, but they haven't started shipping in mass qtys.
There's plenty of chips doing better than bitfury's 0.75w/gh stuff. However, bitfury has much better chips now that they are not selling to the public. There's a lot of competition in this mining space!
I think it's safe to put Hash Profit as a verified ponzi scam by now. No one I spoke to has been paid since christmas.
No, they do not pay for anything, nobody has ever seen a single DC of CEX. Bitfury chips went on negative equity long time ago more or less at the time the Jupiters stopped to be productive.
Bitfury is still among the most power efficient chip, achieving ~0.75W/GH at the wall. So far only Bitmain is doing significantly better, and only since a few weeks. So it all comes down to their electricity cost.
You will note however, that even KnC has not shut off their miners, despite considerably worse efficiency. Clearly they still think its operationally profitable.
Just going to point out that SP-Tech miners range between 0.3w/gh and 0.6 w/gh based on how much you overclock/underclock. As well, KnC Neptunes pull about 0.5 w/gh (very good efficiency).
Not sure if it counts but BE300s chips from Asicminer are currently pulling 0.3 w/gh on stock clocks, but they haven't started shipping in mass qtys.
There's plenty of chips doing better than bitfury's 0.75w/gh stuff. However, bitfury has much better chips now that they are not selling to the public. There's a lot of competition in this mining space!
You will note however, that even KnC has not shut off their miners, despite considerably worse efficiency. Clearly they still think its operationally profitable.
That assumption is based on the fact they are still using the Jupiters, the reality is that their farm is full of the customer neptunes they are refusing to ship.
They might not be a ponzi, but they are scam artists of the highest order.
No, they do not pay for anything, nobody has ever seen a single DC of CEX. Bitfury chips went on negative equity long time ago more or less at the time the Jupiters stopped to be productive.
Bitfury is still among the most power efficient chip, achieving ~0.75W/GH at the wall. So far only Bitmain is doing significantly better, and only since a few weeks. So it all comes down to their electricity cost.
You will note however, that even KnC has not shut off their miners, despite considerably worse efficiency. Clearly they still think its operationally profitable.
I heard that Puppet had a look at a bitcoin chart for the first time in two years, checked out Charts 101, quickly concluded that Bitcoin was a Ponzi scam, as a result had a breakdown and now thinks he´s Napoleon Bonaparte. Well, at least that´s the rumor.
Guys, just put galdur on your ignore list... Obvious trolls are obvious.
Don't feed him.
I heard that Puppet had a look at a bitcoin chart for the first time in two years, checked out Charts 101, quickly concluded that Bitcoin was a Ponzi scam, as a result had a breakdown and now thinks he´s Napoleon Bonaparte. Well, at least that´s the rumor.
i am interested in mining as newbie and this thread is easy to understand.
mining at this point is not wise? or is it better to wait for later moment when price is higher.
mining at this point is not wise? or is it better to wait for later moment when price is higher.
What's so hard about buying bitcoin? The fact you don't have to beg someone for it back?
What's so hard about buying bitcoin? Well, watching it constantly tank - I guess.
Hi Everyone.
Could you put me on the list. https://rent-a-hash.com
One "Bitmain Antminer S3" for Rent
Remote access to the web interface of the miner - every pool configuration possible!
6 month complete package including rent, power, cooling, maintenance, internet connection!
299 Euro incl. VAT for private customers from within EU and 249,17 Euro excl. VAT for business inside EU and non-EU customers .
Non-EU customers don't have to pay VAT but Polivka GmbH is required by law to demand proof of residence for that. A copy of an ID and a utility bill must be provided before the order is accepted.
Could you put me on the list. https://rent-a-hash.com
One "Bitmain Antminer S3" for Rent
Remote access to the web interface of the miner - every pool configuration possible!
6 month complete package including rent, power, cooling, maintenance, internet connection!
299 Euro incl. VAT for private customers from within EU and 249,17 Euro excl. VAT for business inside EU and non-EU customers .
Non-EU customers don't have to pay VAT but Polivka GmbH is required by law to demand proof of residence for that. A copy of an ID and a utility bill must be provided before the order is accepted.
No, they do not pay for anything, nobody has ever seen a single DC of CEX. Bitfury chips went on negative equity long time ago more or less at the time the Jupiters stopped to be productive.
what you are seeing is the pool that other miners are mining.
@Mr.Teal
I will rephrase.... what makes you think there has been any hardware ever? Have you seen any ? any reliable evidence ? something like this? ever?
https://twitter.com/Datavetaren/status/485388559256657920/photo/1
I haven't looked enough into CEX to justify me doing proper due diligence, but on the surface they appeared to be a legitimate reseller marketplace backed by a massive amount of Bitfury hardware. They were (to the best of my knowledge) reselling the Bitfury controlled portion of GHash's output. I can't say with any certainty that they are legit though.@Mr.Teal
I will rephrase.... what makes you think there has been any hardware ever? Have you seen any ? any reliable evidence ? something like this? ever?
https://twitter.com/Datavetaren/status/485388559256657920/photo/1
That doesn't really change my disagreement with part of your post though. If CEX.io was actually selling time on legitimate machines, them suspending operations doesn't mean those machines turned off. Remember they haven't even disabled the option to pay out. You can still request that your account remain active, it will just run negative as the maintenance fee is higher than the reward.
Maintenance fee != their marginal cost though. They equipment is all installed, at least in the short term they're still paying for the facility, internet, etc, etc. Unless they have more efficient hardware waiting in the wings, their marginal cost to run the existing hardware is probably pretty close to the cost of electricity. They might still be making a profit at these conditions, and the equipment stays on.
what you are seeing is the pool that other miners are mining.
@Mr.Teal
I will rephrase.... what makes you think there has been any hardware ever? Have you seen any ? any reliable evidence ? something like this? ever?
https://twitter.com/Datavetaren/status/485388559256657920/photo/1
@Mr.Teal
I will rephrase.... what makes you think there has been any hardware ever? Have you seen any ? any reliable evidence ? something like this? ever?
https://twitter.com/Datavetaren/status/485388559256657920/photo/1
Unless it was an elaborate scheme, I believe CEX had their own hardware. Low in hashing power by today's standards though. https://cex.io/redeem. It makes sense that some will have to stop mining if power costs exceed revenue. Difficulty is up and BTC value is down at the moment... A little scarcity of BTC wouldn't be a bad thing at this point.
No they diid not. There was no hardware. In T&C same was the property of the users and could be redeemed.
I'll rephrase.Assuming that CEX.IO has enough hardware to cover their sold mining power, do you think that them suspending the current accounts until such a time that mining revenue > maintenance fees necessarily implies that they have actually shut off the assumed hardware?
AFAIK, Cex.IO's mining firm is Ghash.IO's own hardware and as I can see Ghash.IO is still mining with 12% (ref: https://blockchain.info/pools), i.e. their own hardware are still running.
No they diid not. There was no hardware. In T&C same was the property of the users and could be redeemed.
I'll rephrase.Assuming that CEX.IO has enough hardware to cover their sold mining power, do you think that them suspending the current accounts until such a time that mining revenue > maintenance fees necessarily implies that they have actually shut off the assumed hardware?
No they diid not. There was no hardware. In T&C same was the property of the users and could be redeemed.
Jump to: