Topic: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? - page 2. (Read 28737 times)
May 23, 2013, 10:08:22 PM
Now you people are getting nasty. This is a newbie thread. Maybe some of us don't have the benefit of your years and years of experience immediately spotting these scams. Maybe we're actually trying to educate ourselves and learn so that we *don't* get taken in by the next scam. I'm more of a detail oriented person, so for me, it's way more effective to give some specific reasons as to what's wrong with the picture than to just keep saying over and over "it's a scam." The APR thing makes sense--that's a good detail. So is the actual plausibility of mining yields. I appreciate that sort of information; I really do, and yes, that (along with the defensiveness of the owner on a different thread) is plenty to keep me away from Cloudhashing and most if not all similar offerings. So good work, people. You are succeeding at warning people; just try to keep it civil even if we ask questions you consider to be stupid.
May 23, 2013, 10:08:14 PM
Someone already posted this, though one of the supporters of this scam (at least while it was being perpetrated) discouraged it ...
FBI Cybercrime devision report Internet crimes: http://www.ic3.gov/default.aspx
Does the FBI care? YES! There is no minimum financial loss before they care. They are *obligated* to care about all frauds REPORTED TO THEM.
Now, the government is slow, and prosecution takes time, but eventually these people get what is coming to them. However, victims MUST REPORT !
This has nothing to do with Bitcoin. This is all about fraud. It doesn't matter if it was Bitcoins or Goats.
FBI Cybercrime devision report Internet crimes: http://www.ic3.gov/default.aspx
Does the FBI care? YES! There is no minimum financial loss before they care. They are *obligated* to care about all frauds REPORTED TO THEM.
Now, the government is slow, and prosecution takes time, but eventually these people get what is coming to them. However, victims MUST REPORT !
This has nothing to do with Bitcoin. This is all about fraud. It doesn't matter if it was Bitcoins or Goats.
May 23, 2013, 10:01:47 PM
Relax! I'm not getting involved in this one. I was just making the point that it's easier to spot trouble areas for a website claiming to sell mining shares or contracts or whatever it is when you actually understand what goes on behind mining, something I don't at this point. That's why I appreciate what people say about how the estimated yields are overly optimistic. Even if the company is not a scam, it still could be a poor investment for that reason. That point was made on another thread about Cloudhashing.
There is no analysis or understanding needed. These people most likely don't even have mining rigs.
Are you this naive? Why would you even begin to believe in something so absurd?
It is frustrating to all those who try to warn you people away.
May 23, 2013, 08:29:10 PM
Fool me once shame on you, feel me twice, well I'm just a dumbass with BTC to throw away. Don't be that guy! 
LOL! Yeah i don't think that's how it goes!
I get downright dirty when I talk BTC! lol.
How about you just trade in your BTC for my fresh new Hotchatcoin? It's guaranteed to make your night!
May 23, 2013, 08:21:02 PM
For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible? Do the projected yields make sense? Has anyone ever worked with them? If so, what was the experience? I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.
The site estimates that 1 GH/s will earn 6 BTC after a year, but I think that is ridiculously optimistic. Currently, 1 GH/s earns about 14 BTC/year; however, the hash rate has quadrupled in the last 3 months and it is likely to continue rising very steeply. If it quadruples again, 1 GH/s will only earn about 3.5 BTC/year. Furthermore, the site keeps 40% of your money, which will also cut your earnings nearly in half. You can compare this site to mining bonds on BTC-TC to get a good idea how reasonable the deal is.
Also, the site is completely anonymous. Does sending hundreds of dollars to an unknown person in another country seem like a smart thing to do?
Thanks for the number crunching. That's exactly the sort of information I was asking for. There is another thread on this forum about Cloudhashing. While it's not entirely clear that they are a scam (though some are convinced they are), they still may not be a good investment, and you really can only determine that if you have a good understanding of how Bitcoin mining actually works.
I can't believe I'm literally seeing someone in the early stages of being scammed, ALL OVER AGAIN.
How about you guy's learn your lesson? How about you invest in a company that is actually trusted, spoken about and that the people know?
You've got spare BTC to throw away? Great. Go invest in ASICMiner or something that actually has some backbone.
The sheer ignorance of you guys even "crunching numbers" and trying to "figure out if it's a good investment" is mind boggling. Fool me once shame on you, feel me twice, well I'm just a dumbass with BTC to throw away. Don't be that guy!
Relax! I'm not getting involved in this one. I was just making the point that it's easier to spot trouble areas for a website claiming to sell mining shares or contracts or whatever it is when you actually understand what goes on behind mining, something I don't at this point. That's why I appreciate what people say about how the estimated yields are overly optimistic. Even if the company is not a scam, it still could be a poor investment for that reason. That point was made on another thread about Cloudhashing.
May 23, 2013, 07:18:01 PM
I just learned not to warn people about scams. Just like if their spouse is cheating. They get mad at you.
May 23, 2013, 07:16:38 PM
Please, all of you that must be scammed, invest in the bitcoin faucet and help new people.
Ah, but then they wouldn't be scammed, and we wouldn't get to hear them whine in a week or two.
And I'd call it donating to the faucet, not investing.
May 23, 2013, 06:20:52 PM
Please, all of you that must be scammed, invest in the bitcoin faucet and help new people.
May 23, 2013, 04:24:08 PM
Fool me once shame on you, feel me twice, well I'm just a dumbass with BTC to throw away. Don't be that guy!
LOL! Yeah i don't think that's how it goes!
May 23, 2013, 01:28:52 PM
Should we expect an ULTRA MASSIVE drop of the BTC price after the news go out in public?
May 23, 2013, 12:10:43 PM
I think he was just asking about the reputation.
May 23, 2013, 11:46:35 AM
For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible? Do the projected yields make sense? Has anyone ever worked with them? If so, what was the experience? I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.
The site estimates that 1 GH/s will earn 6 BTC after a year, but I think that is ridiculously optimistic. Currently, 1 GH/s earns about 14 BTC/year; however, the hash rate has quadrupled in the last 3 months and it is likely to continue rising very steeply. If it quadruples again, 1 GH/s will only earn about 3.5 BTC/year. Furthermore, the site keeps 40% of your money, which will also cut your earnings nearly in half. You can compare this site to mining bonds on BTC-TC to get a good idea how reasonable the deal is.
Also, the site is completely anonymous. Does sending hundreds of dollars to an unknown person in another country seem like a smart thing to do?
Thanks for the number crunching. That's exactly the sort of information I was asking for. There is another thread on this forum about Cloudhashing. While it's not entirely clear that they are a scam (though some are convinced they are), they still may not be a good investment, and you really can only determine that if you have a good understanding of how Bitcoin mining actually works.
May 23, 2013, 02:02:50 AM
Let us know how it works out. It could be a pyramid scheme
May 23, 2013, 01:40:04 AM
For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible? Do the projected yields make sense? Has anyone ever worked with them? If so, what was the experience? I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.
The site estimates that 1 GH/s will earn 6 BTC after a year, but I think that is ridiculously optimistic. Currently, 1 GH/s earns about 14 BTC/year; however, the hash rate has quadrupled in the last 3 months and it is likely to continue rising very steeply. If it quadruples again, 1 GH/s will only earn about 3.5 BTC/year. Furthermore, the site keeps 40% of your money, which will also cut your earnings nearly in half. You can compare this site to mining bonds on BTC-TC to get a good idea how reasonable the deal is.
Also, the site is completely anonymous. Does sending hundreds of dollars to an unknown person in another country seem like a smart thing to do?
May 22, 2013, 08:17:12 PM
For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible? Do the projected yields make sense? Has anyone ever worked with them? If so, what was the experience? I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.
Looks plausible. Nice website design. But I have never worked with them, and don't really have the extra $243.14 to do a contract, because I think just getting the 1 year contract would be stupid. (If this was/is real.)
May 22, 2013, 06:30:13 PM
For those on this thread who know more about the mining math than I do, are the "mining contracts" being offered on www.cloudhashing.com possible? Do the projected yields make sense? Has anyone ever worked with them? If so, what was the experience? I'm not going to touch this for a while, but would like to know more about whether the idea of buying/renting mining computing power is even feasible as a moneymaker for either party.
May 22, 2013, 12:44:06 PM
still no communication and no payment
thanks
thanks
May 22, 2013, 11:50:48 AM
Iz dis lejit?
Andy B
Andy B
May 22, 2013, 10:43:42 AM
Yep you guessed it. Scammers
May 22, 2013, 10:41:47 AM
There's also www.cloudhashing.com which has a very similar set up!
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