Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? - page 26.

MiningUnited

newbie

Activity: 28

Merit: 0

Quote

If you're printing your own money, why do you need to offer 10% daily to people in order to get loans to keep your business running? Are you going broke with your "secret business plans", are you that desperate?

We are having other people pay for our Mining gear, why wouldn't we? Where do you think we got over 1,250 BitCoin to be able to buy all the mining gear we now have? Are you saying we should just pay back out the current users and stop? We could do this, but why? Why not provide a service for those who can't mine for BitCoin themselves, or don't know how. Should we just stop now and be that greedy?

BadBear

legendary

Activity: 1652

Merit: 1128

Quote from: MiningUnited on May 04, 2013, 02:25:04 PM

Not exactly. As we are able to generate new bitcoin through mining (it is how you make new BitCoin if you didn't know) you cannot compare us to any ponzi scheme. We are not operating a ponzi scheme. We take the payments and use them to run computers to generate new BitCoin. We are basically "printing out own money". No ponzi scheme can do this.

If you're printing your own money, why do you need to offer 10% daily to people in order to get loans to keep your business running? Are you going broke with your "secret business plans", are you that desperate?

MiningUnited

newbie

Activity: 28

Merit: 0

Not exactly. As we are able to generate new bitcoin through mining (it is how you make new BitCoin if you didn't know) you cannot compare us to any ponzi scheme. We are not operating a ponzi scheme. We take the payments and use them to run computers to generate new BitCoin. We are basically "printing out own money". No ponzi scheme can do this.

Dbcch0, you have nothing but lied (admitted it), provided unfactual, uneducated information in attempts to prove we are a scam. You are not doing so well.

We are not going to "defend to the end" that we are not a scam. This might suprise people, but we know what the opinions are, and respect that. We may not agree with you, but will fight to death your right to say it - just please don't lie.

dbcch0

newbie

Activity: 28

Merit: 0

Quote from: MiningUnited on May 04, 2013, 02:18:05 PM

Those were real "coins" not "BitCoins". Seriously? Get your facts together.

You are a fool. Bitcoin or donkeys, any commodity that has value can be used in a Ponzi Scheme. It's illegal. We all know you're a scammer. The End.

MiningUnited

newbie

Activity: 28

Merit: 0

Those were real "coins" not "BitCoins". Seriously? Get your facts together.

Quote

Alright, I'll say it was a total lie (despite forum records and witnesses). I totally lied and made up, out of the blue, the unrelated claim that you said "taxes are illegal" and you'll "never pay taxes".

Now that I concede its a lie (not really, but you get my point), can you get back to your Ponzi Scheme defense? I find this hilarious.

Just wow.

dbcch0

newbie

Activity: 28

Merit: 0

These scammers need to realize that just because we're using Bitcoin, that doesn't make them exempt from federal laws regarding ponzi schemes. A quick Google reveals this case of a guy getting 17 YEARS for running his Ponzi Scheme: http://www.fbi.gov/boston/press-releases/2013/milton-man-sentenced-to-17-years-for-orchestrating-large-ponzi-scheme-and-massive-mail-fraud

Alright, I'll say it was a total lie (not really, but trying to get you to move on). I totally lied and made up, out of the blue, the unrelated claim that you said "taxes are illegal" and you'll "never pay taxes". Totally came to me out of the blue, lol.

Now, can you get back to your Ponzi Scheme defense? I find this hilarious. It's also great evidence for your inevitable prosecution.

Newcomers, read this thread of a now infamous Bitcoin Ponzi Scheme, unknown at the time, and how the defenses are so similar .. again, he defended himself to the end, but now it's well documented and he's been publicly labelled as a scammer in his profile here.

After reading that thread and wondering "WOW, lots of people believed in the scam!" .. then see this recent thread here: https://bitcointalksearch.org/topic/pirateat40-trendon-shavers-159772 (or others) for the status on the subsequent investigation and likely arrest and incarcertation of PirateAt40. The scam is well documented, but it's amazing to see the old thread (first link) documenting the development of the scam, as it happened.

MiningUnited

newbie

Activity: 28

Merit: 0

Now that you were caught in a lie you want to "get back on track". Figures.

Quote

Forum records will show this to be true you fool. Just because you deleted the posts doesn't mean all evidence of them is gone. There are also plenty of witnesses in the thread here: https://bitcointalk.org/index.php?topic=195086.new;topicseen#new . However, this is all OFF TOPIC.

I would love to see the forum records.

dbcch0

newbie

Activity: 28

Merit: 0

Quote from: BadBear on May 04, 2013, 10:52:42 AM

Quote from: MiningUnited on May 04, 2013, 10:39:55 AM

Quote

So you're not addressing the fact that taking loans at a crazy interest rate is an awful business model?

What is so crazy about being able to generate BitCoin and paying back 1-9%?

The fact that you're borrowing money to do it with instead of using your own, and offering ludicrous interest rates to do it? You could get far larger loans with much less interest, except those people would look at your "business plan" and realize it's a classic ponzi scheme.

For the newbies, here's a good thread to read, a (then unknown)ponzi that ran for several months. Notice the similarities in the excuses used by the operators. "I know it looks like a scam but my reputation!".
https://bitcointalksearch.org/topic/bitcoin-savings-and-trust-home-closed-50822

^^^^^
Getting back on track, so people are left with some clear information about this anonymous 'business' (illegal Ponzi Scheme). I think that's a good place to leave it, before MiningUnited further deflects. And, note that since he's paying out per day, the actual APR for these loans is astronomical. I mean, holy cow ;p. It's so amazingly brazen and absurd... and flat-out illegal.

The thread referenced is about the now infamous pirateat40 who ran a 'Bitcoin savings and loan' ponzi scheme that's been well documented since. Read me and check out adamantly this guy defended himself to the end of his scam (maybe some people are really so delusional they don't realize they have 'invented' yet another Ponzi Scheme)

dbcch0

newbie

Activity: 28

Merit: 0

Forum records will show this to be true you fool. Just because you deleted the posts doesn't mean all evidence of them is gone. There are also plenty of witnesses in the thread here: https://bitcointalk.org/index.php?topic=195086.new;topicseen#new . However, this is all OFF TOPIC.

As was said, explain how this isn't a Ponzi Scheme (it is, and he's in trouble) .. quit deflecting. Tell us about your legit, anonymous, business in which you refuse to reveal your identity and send free money to everyone who sends you money (lol).

MiningUnited

newbie

Activity: 28

Merit: 0

Quote

It is obvious that this is going no where fast. All counter claims are full of so much misinformation trying to tarnish the reputation of our site is ridiculous.

For example, dbcch0 please quote where it says:

Quote

Quote
He's already stated he doesn't pay taxes.

Quote

In the other thread in which you are communicating. I grabbed some screenshots when I wrote that, in case you remove(d) the posts you made claiming taxation was illegal and you'll "never pay taxes", but no need to waste time on you. EDIT: He DID delete those posts, lol.

Caught in a lie. Roll Eyes

Never mentioned anything, anywhere, about taxes. Seems as if the posters in this thread have turned into a bunch of "liars and scammers" themselves, funny.

dbcch0

newbie

Activity: 28

Merit: 0

Quote from: boingy45 on May 04, 2013, 01:50:11 PM

it sounds too good to be true, so those things usually are a scam.

Indeed. Common sense goes so far. In this case, 'usually' isn't a strong enough word though.

BadBear

legendary

Activity: 1652

Merit: 1128

Quote from: MiningUnited on May 04, 2013, 01:38:07 PM

It is obvious that this is going no where fast. All counter claims are full of so much misinformation trying to tarnish the reputation of our site is ridiculous.

For example, dbcch0 please quote where it says:

Quote

He's already stated he doesn't pay taxes.

And another attempt to sidestep real questions about his business model, notice how he evades all questions about his business, instead replies to something about taxes, a popular subject on these forums. Classic con man strategy, only answer question not related to the business. I wonder if his next answer will be better than 'free bitcoins!'.

Deathwing

legendary

Activity: 1638

Merit: 1329

Stultorum infinitus est numerus

Possible Scam.

boingy45

newbie

Activity: 24

Merit: 0

it sounds too good to be true, so those things usually are a scam.

dbcch0

newbie

Activity: 28

Merit: 0

Quote from: MiningUnited on May 04, 2013, 01:38:07 PM

It is obvious that this is going no where fast. All counter claims are full of so much misinformation trying to tarnish the reputation of our site is ridiculous.

For example, dbcch0 please quote where it says:

Quote

He's already stated he doesn't pay taxes.

In the other thread in which you are communicating. I grabbed some screenshots when I wrote that, in case you remove(d) the posts you made claiming taxation was illegal and you'll "never pay taxes", but no need to waste time on you. EDIT: He DID delete those posts, lol.

If you think you can make enough money from your 'investors' to cover their returns, which I imagine is your delusional super-secret business plan, good luck with that! And note that you are the millionth person to try a Ponzi Scheme, which is why these were made illegal.

MiningUnited

newbie

Activity: 28

Merit: 0

It is obvious that this is going no where fast. All counter claims are full of so much misinformation trying to tarnish the reputation of our site is ridiculous.

For example, dbcch0 please quote where it says:

Quote

He's already stated he doesn't pay taxes.

dbcch0

newbie

Activity: 28

Merit: 0

The way he hopes his 'business plan' will work is this ...

1. Actually pay out his marginal premiums to people who send him money - AT FIRST
2. As more people sign on, he can continue to do this, especially if Bitcoins rise in value - FOR A WHILE
3. Run away when he can no longer pay out OR earlier - THE END

In reality, he will probably go to prison for running a Ponzi Scheme. Either way, those who send him money lose.

If you do intend on sending this scammer money, at least make sure you get his real identity. It's hidden. Also, once you have that, make sure his business is properly licensed and complies with all laws. He's already stated he doesn't pay taxes. Therefore, who knows when his assets will be seized. Assuming he actually built up anything with this ANONYMOUS PONZI SCHEME SCAM.

Since Ponzi Schemes are illegal, he is already in violation of federal law. Have fun in prison.

dbcch0

newbie

Activity: 28

Merit: 0

Quote from: MiningUnited on May 04, 2013, 01:05:43 PM

Please provide your evidence for such a slandering claim.

For a statement to be slander or defamation, it must be UNTRUE. As a supposed lawyer (one who says taxes are illegal, urmph Shocked

), I'd think you'd know this.. but, oh well.

Anyone with any common sense knows your site is a scam. Please provide your real contact information, since you are using DomainsByProxy to protect your WHOIS information for the domain.

Or, better yet, I'll give you my contact info, and you can sue me (I'd clean house in the counter-suit).

BadBear

legendary

Activity: 1652

Merit: 1128

Quote from: MiningUnited on May 04, 2013, 01:05:43 PM

Quote

This guy will wait until he has enough money for his trouble, then disappear, he'll never post again, people will get angry and post about it a lot, we'll say I told you so, another will show up the next week, etc.

Please provide your evidence for such a slandering claim.

Since what we are doing is extremely profitable, should we fax over our business plan so others can copy? This is what you want, isn't it?

How is mining bitcoin not, "free money". Last time we checked thousands of people mine for BitCoin to earn "free money".

Ah yes, the mythical 'secret business plan' that is just so profitable that you have to give out 10% interest for loans on an internet forum just to conduct business.

Again, that you think mining is free money obviously shows that you haven't thought your fake business plan through very well, and people probably shouldn't loan you money when you are literally begging for it with 10% interest. You're very high risk, and have no answers for questions asked. Oh wait, your 'business plan' is super secret, I forgot.

dbcch0

newbie

Activity: 28

Merit: 0

It's obviously a scam. I mean, really, send Bitcoins to some random address and get more back (explanations aren't needed beyond that). Oh, ok. Sure. That's totally legit, lol. There's a sucker born every minute.

Also, the owner is here, see above. Sickening. It's people like him that give Bitcoin a bad name.

And, naturally, he hides his WHOIS information. Why don't you give your real identify MiningUnited? That is a pre-requisite to honest business.

Topic: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? - page 26. (Read 28737 times)