You guys probably already caught this one too, but just in case...
This is peculiar... Power company started supplying power to the "data center" on 10/15/2014 but didn't the all powerful Hashlets go on sale around mid-July ?
Fucking odd.
https://i.imgur.com/0JVLIqx.png
This is peculiar... Power company started supplying power to the "data center" on 10/15/2014 but didn't the all powerful Hashlets go on sale around mid-July ?
Fucking odd.
https://i.imgur.com/0JVLIqx.png
Mid-August. But yeah, big surprise here. /s
Here is my theory:
The answer is obvious if you factor in Fractional Reserve Mining. I would also suggest that this is what Coinfire knows already, re: leaked documents.
Here is my guess:
Josh buys some miners and gets them mining. I dunno the scale at this stage but lets just say he has about 10 TH/S. Next he starts selling hashes until he sells, lets say, 1000 TH/S. Now he uses a portion of revenues to make daily payments to his customers and using another portion to buy more miners. This allows him to scale up the Ponzi. Sooner or later he reaches a point that he must let it collapse or take it to a bigger scale. Bigger he goes and he reaches out to the power company.
His scheme will work as long as he is not exposed. Coinfire, based on the latest interview, did expose this scam causing the house of cards to collapse. This made it impossible for Josh to front run the game.
If my theory is correct it would be impossible for Josh to do this alone. There would have to be a lot of deviant players involved, not to mention the sock puppet accounts.
The end!
Further, when you are the scammer or been promoting the scam for the scammer, or buying into the scam; anyone who 'outs' you becomes an enemy. In their deluded world the enemy has interrupted their revenue stream and wrecked their business model. If I was one of those fucktards, I would be mad too. See, in their mind they think that they are smarter than most people. It is part of their sociopathic tendencies. Anger and attack dog mentality is the classic reaction to being publicly exposed.
A psych major could get a doctorate using the OP for their research.
