Topic: Is miningunited.com a SCAM, turning .1 bitcoins into .137 for almost free? - page 29. (Read 28737 times)

Going to give this a shot as well to see what happens... will post results in a few days.

New

Do you mind explaining me?
I'm not a gambler, so I've never used Satoshi Dice.

Same way as Satoshi Dice.

How do you decide on the "adress the payment was sent from"? There is no option to choose a sending adress in bitcoin-qt, the payments can be made up from multiple adresses.

EaseofBitCoin,

We take missing payout claims very seriously. However, we do not believe you to be serious. Post your transaction ID as proof of payment. If your wallet is compatible with our service, and you truly somehow "did not get any coins back" we will send you 3x your payment back to you immediately and post proof of this here. Since all payouts are accounted for, we doubt this will be the case.

As described by the operator the numbers _seem_ to make sense at first glance. But I have no idea he'd do such a thing. It seems like a lot of effort to go through to get the use of OP'sM.

Thanks for using our service Theblazehen. I assume by recommending us things have been going well for you? Receiving payouts on time or earlier?

ok

We monitor incoming traffic sent from your link. If there are purchases while the visitor is on the page, then you earn BitCoins, up to 1. If you recently posted your link in the past few days, then you are right, you shouldn't have received anything, yet.

I posted on facebook about it, and sent an email - but I didn't get anything

Yeah I'm starting to trust but its odd you just registered here.

As long as you stay active at bitcointalk, people will grow to trust your system.
I would suggest a page of images of your rented rigs, as well as in-progress images of ones that you are building.  If you can prove you have the HW for such a scheme, again people will go to trust.

I'm still wary regarding the 2600 MH required for a 0.25 BTC package to pay off.  I'm not wrong in the math, that's 4x 7970s for 3 days to earn that back before you even take a cut for yourself.  Unless you have 20-50 initial systems, each with four cards, or hands on a few Avalon/BFL rigs/shedload of FPGAs, you are going to hit limits very quickly.  Those that make it within the limit of course will extol the virtues of the system as you continue to grow.

I'll do that for 1 btc

Actually, not really.

We do not require you to "get referrals" or "expand your complex matrix of users" or "build up a team" or "recruit others" or "invite xxx people and then you get your reward". Since we do not need additional members to payout current, there is no need to force users to do this. We would like to grow, but it is not really necessary.

While we were starting we are offered up to 1 BitCoin for sharing a link with us where you recommend us, but are discontinuing that on Monday.

That sounds reasonable

Correct, the site does not auto update. It will appear to 'backlog' as we grow.


We strongly recommend this, it is true for all investments...

Anyone who is skeptic we recommend only purchasing a small amount, get a payout, and ONLY use that payout to buy more. Some of our early users actually have taken out their initial investment and only buying more with a portion they continue to make.

Yeah just like pyramining, no way to ever pay everyone back

This is a very legitimate way of looking at the scheme.  Rent out your HW, renter gets 90% of perf, 5% goes on expenses, you keep 5%.  Over time you can buy more hardware, and it builds.  Keep a pool of BTC to pay out in the event of an outage.

Though after a few hours of thinking about it today, there are a few issues.

- It offers a way for your BTC to earn money while idle.  If I have BTC idle and I can get a return on them sitting idle, then hell yeah.  Alongside normal mining, this would be a great system.
- There are no images of the mining rigs, no up to date reasoning of why XYZ.  If you follow the bitcoin addresses, lots of 0.25 go in, and some 0.337 go out.  If the owner is hoping that more people get interested, then he can pay some of them out.  This is eerily similar to a Ponzi scheme if no real evidence is being had that they have miners.  Take, for example:

The 0.25 BTC option.  You get ~0.3263 BTC back.  Now in order to earn 0.3263 back in 60 hours (premium users), at current difficulty, you essentially need 2630 MHash/s just to break even.  So when you send those 0.25 BTC, you should be 'renting' approx 4x 7970s for 60 hours.

Clearly the owner hasn't thought this through - almost 1000 different 'packages' have been bought on the site (which hasn't updated in 6 hours) that are in the pipeline.  Apparently they're installing 3 new systems tomorrow - if that is another 12 7970s, then they have enough power to accomodate 9 requests for 0.25 BTC every three days.  So of course, this makes me think 'Ponzi', unless the owner has actually been taken unawares by the demand, or they are using the machines to mine other coin and transfer over if it offers a better return.

If someone is making money through work, and they have an opportunity for the money they have earned grow without doing anything themselves, then they'll do it (assuming no risk).  That's why people have high interest savings accounts.  The bigger the % payback, more often than not the bigger the risk (hedge funds).

Now if the owner had a 1500 GH/s system from BFL, then it would make sense.  He could create ~75 BTC a week.  But doing some math, if I started with 1 BTC and reinvested all I got back, in a month in this scheme I would get back 15.18 BTC if I kept 5% each round.  Any scheme that could 15x my money in a month sounds too good to be true.

However, it is up to individuals to make a decision either way.  Clearly people have had returns, although there is starting to be a backlog and the site doesn't autoupdate.

So only invest what you can afford to lose! 

I did not seen it yet but if you are having doubt don't put any money on it,it is really annoying if you encounter scam.Well i remember some accountant at http://www.accountdata.fi/ in Finland country where some of them are also encounter scam even though they are professional on finance and encountering it by your self is not really good.Follow your doubt i guess.

very odd