Topic: [Cryptostocks] Scrypts Mining - legit or just a SCAMM? - page 3. (Read 5296 times)

There probably not Cryptostocks/Vircurex/kumala unless thats where the stolen Money from Vircurex and the missing Dividends to shareholders went to fund that mining park. If it had been kumala behind it, why wouldent he have said it from the start ?

They also claim to be selling gridseeds 5chip miners for 135 usd each in orders of just 300 devices, but thats prices you would not even get to if you buy directly from Gridseed in quantity's of 5000+ units so thats just not possible for them to resell profitable at those prices, they must be a scam and just try to use cryptostocks emailadress without permission to hope to attract some buyers before they dissapear.

So this added to their new homepage:

Administrative and Support Address:
Mirae Asset Tower 166 Lujiazui Ring Road Pudong
Shanghai
200120
China

Email: [email protected]

weird. they are official from cryptostocks??

And the places of the datacenters were added.

Looking better, but stil very anonymous and just a little bit suspisious

I don't mean to change anybody's mind about this security, but i was looking to buy some gridseeds myself and your figures just doesn't match up.
Few groupbuys of greedseed has happened on bitcointalk with a realistic price of $200 per unit when ordering more then 10 PCs.
So 1600 units cost $320k, but not 2.1M pounds in any way. I assume some volume discount took place as well.
Just trying to follow the company's logic.... They probably bought gridseeds 4 to 6 weeks ago, when those became available for the public. They got 3 datacenters in China, so I assume company resides in china too...that explains site design and perhaps that's why they show no address and phone on their web site. They ran those ASICs privately for some time while difficulty was low, so they got a good cut of LTC i think. Selling this equipment over cryptostocks is an effort to return the investments.
From what i understood they are offering 10 thousand shares BTC0.07 each, meaning they try to raise 700 coins. With a current price it comes to $430k.

I agree that no photos, no address, no official bitcointalk thread and less then a month domain registration look suspicious. Nevertheless I'm adding this stock to my watchlist to see how the dividends go.

Some companies from cryptostocks are offering same service, but no one seem to have the miners in hands, while these guys claim they have hardware already.

Does anyone contacted them? Any extra information would be highly appreciated.

There is a number of red flags for this listing, no photos of the miningfarm in action or it's hashrates and no miningadresses published that they generate there mining incomes on either. There's no huge discounts for ordering such small amount of 1 600 miners from gridseed like they claim.
Even if they actually had the Miners and would not run away with peoples bitcoins it would be a bad deal to invest in them as they charge an overprice of around 80% for the miners hashrates so theres no reason for anyone to invest in them as the price they charge is practically a scam anyway.

Even a photo isn't prove anything. Anyone can make a pic about a bunch of stuff in a rack.
Some more questions:
If they are a company shouldn't they publish some registration or VAT numbers?
1600 SeedMiner is more than 2.1 million pounds. If they got this nice chunk of money why they need additional 700 BTC?
If they had £2.1 million shouldn't they spend a few quids on a less doggy site and on some spell checker?
The domain registration address points to some residential area and those bungalows doesn't looks like a company HQ.

So, I agree at first view looks like scam.
 

What I dont understand is that they are claiming having 3 studios with miners, but not publishing any photos. Thats so suspect, everyone would send some photos of his operations, if he would have it. I mean 1600 Seedminers! Its like you are having a Mercedes or Ferrari and you are telling your friends about it, without having a photo with you.So its HIGHEST probability a Scamm (until i see the farm on a photo). Stay away!

Introducing Scrypts Mining.
Scryptsmining.com is independently owned company offering key solutions for scrypt algorithm mining. We own few clusters of GridSeed Infinity Dualminers hashing at 500-530 MH/S (1600 Pcs) on SCRYPT algo. We mine scrypt based currencies, such as litecoin, doge coin, earthcoin, feathercoin.

Business model is easy and straightforward.
Each share equals to 50 KH/S of mining power on our SCRYPT mining rigs.
Our miners are setup to mine most profitable currency. We convert income into bitcoins, which are distributed among shareholders on a weekly basis.

We are offering to buy a part of mining power in shares.
Each share represents 50 Kh/s hashrate. (SCRYPT algo)
20 Shares represents 1 Mh/s of mining power.

All the income will be spend towards purchasing more SCRYPT ASICS of the latest generation. Additional shares will be issued when we increase the number of working ASICS in our datacenters.
Income distribution scheme:
92% is paid to shareholders every week on Tuesday.
8% is held to cover electricity and maintenance costs.
Dividends are paid weekly every Tuesday
Our average monthly profitability against LTC is 125%-135%

Our advantages:
Key solution for scrypt coin mining. No need to purchase hardware.
All hardware is already installed in our datacenters and currently hashing. Thats 1600 GreedSeed ASIC miners or 500-530 MH/S of SCRYPT hashing.
No need to buy, setup, maintain hardware. Our stuff does this for you.
Electricity costs in our datacenters are low, which helps us to charge flat maintenance fee of just 8%.
Instant hashing upon shares purchase.
We take care of setup, electricity, connectivity and maintenance of the hardware.
Earnings are paid weekly as dividends according to income distribution scheme
Comprehensive prices for mining power. Hardware was bought from manufacturer directly. We had a good discount while purchasing that much.
Project web site is scrytpsmining.com
Follow us on twitter @Scryptsio