Mining sweden is a scam - page 2. | Bitcointalksearch.org

Beachguy

legendary

Activity: 1019

Merit: 1001

Spectreproject Community Manager

I mined since middle of March 2015 with about 1.2 TH.
First of May all my mine power except 20 GH (which seems to be some S7 power) disappeared.
Seems the S5's were taken off line. S5's are for sale in their shop for basicall same price as S7's at BitMain.
My S5 one tH is still making a profit there bTW, not much but still profitable.

Spreadsheet shows I've come to about $20 of break even.
So basically got my money back after 13 months.

My profit....if there will be any...is purely in the VIP shares, which determining this profit (VIP investors are to split 25% of mS profits) seems to be taking a long time in this day and age of computers and spreadsheets.
Stay tuned.... Tongue

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Honestly what did you expect? Even if they are paying out accordingly, the rates "cloud mining services" offer are ridiculous, it's never going to be profitable in the long run. Just buy bitcoin directly, or if yu really want to invest in mining at least do so in one of the websites that prove their reserves and let you have an exit strategy, like hashnest.

Phildo

legendary

Activity: 1526

Merit: 1000

did they ever prove that they were mining coins?

You do that by sending freshly mined coins out as payment.

XGW

newbie

Activity: 1

Merit: 0

The guy sell VIP shares which are advertised as providing you more profit for the duration of 1 full year.
Then the guy decide that his profit is not sufficient and stop paying you.

The guy did stop my 1 year contract at 262 days. Then he argues that he already paid us extra and that we should feel happy.

200 days ago, when he was paying me more than he should have (from his point of view today) was he foreseeing the future and already knew that he will be short and that the reason he was paying us more.

Or more probably, because at the time he was sharing the amount of profit that he deemed reasonable.

So using that excuse of "I paid you more before, so feel happy" is just bull from a scammer.

I just want to tell the next people that are investing in the current VIP share, that as soon as the guy maintaining the Mining Sweden site feel he has not enough profit, he will terminate your 1 FULL YEAR contract even tho you bought it ONE MONTH AGO !

After 262 day, I got up to 50.44% ROI. Angry

Do not invest with a liar from MiningSweden.

4theLOVEofCrypto

sr. member

Activity: 387

Merit: 250

Quote from: Rmcdermott927 on April 27, 2016, 11:33:39 AM

Quote from: Jose18 on April 27, 2016, 01:28:35 AM

I have been investin in Mining Sweden since last february and they have changed their profit 70% less. I will not reach the ROI. They have expensive investment renting GH. I think they have sold their vip shares and now only they have benefits. I doubt I earn which I invested with them.
A very bad experience.

I disagree. They are one of the few legit sites there. I have had many other dealings with Tommy and can tell you with 100% certainty that the actually have the hash power they claim as opposed to many other sites. They cannot control the rise in Bitcoin difficulty.

I would bet that (theoretically) if btc mining difficulty dropped he would not increase btc payouts. Which makes MS scammy

Rmcdermott927

legendary

Activity: 2254

Merit: 1140

Quote from: Jose18 on April 27, 2016, 01:28:35 AM

I have been investin in Mining Sweden since last february and they have changed their profit 70% less. I will not reach the ROI. They have expensive investment renting GH. I think they have sold their vip shares and now only they have benefits. I doubt I earn which I invested with them.
A very bad experience.

I disagree. They are one of the few legit sites there. I have had many other dealings with Tommy and can tell you with 100% certainty that the actually have the hash power they claim as opposed to many other sites. They cannot control the rise in Bitcoin difficulty.

IanFoxley

legendary

Activity: 910

Merit: 1000

Quote from: Fortify on April 27, 2016, 02:35:50 AM

Mining is a tough game when you are competing with economic juggernauts like China who are powering data centres with (almost) free hydro electric dams. It's simply not possible to mine efficiently in Europe, so now you know to avoid it and hopefully it was a cheap lesson for you. Maybe a link to there website or the specific name of the company would warn others off it.

Mining Sweden is a legit site, contracts are one year, no maintenance fees, latest contracts have hashpower on Antminer S7s and a year or so ago, were running from Antminer S5s. Bitcoin difficulty increases means that the payouts go down, just the same for anyone Bitcoin mining, so certainly nothing scammy about it.

You can mine efficiently in Northern Sweden, where Mining Sweden is based in Boden and they have their hashpower hosted at a datacentre called Hyrdo66. Is a nice place, visited there, Right next to some hydro electric dams, just like alot of farms are, in China, of course the costs for the workforce are probably much cheaper in china but electricity costs in Boden are pretty good and this is why KNC miners is also very close by in the town as well. That area is pretty good as Facebook have their European datacentres near there in Luleå and they are huge.

rezilient

hero member

Activity: 574

Merit: 500

Quote from: Fortify on April 27, 2016, 02:35:50 AM

Mining is a tough game when you are competing with economic juggernauts like China who are powering data centres with (almost) free hydro electric dams. It's simply not possible to mine efficiently in Europe, so now you know to avoid it and hopefully it was a cheap lesson for you. Maybe a link to there website or the specific name of the company would warn others off it.

Dude, its a ponzi website lol

Fortify

legendary

Activity: 2688

Merit: 1192

Mining is a tough game when you are competing with economic juggernauts like China who are powering data centres with (almost) free hydro electric dams. It's simply not possible to mine efficiently in Europe, so now you know to avoid it and hopefully it was a cheap lesson for you. Maybe a link to there website or the specific name of the company would warn others off it.

Jose18

newbie

Activity: 2

Merit: 0

I have been investin in Mining Sweden since last february and they have changed their profit 70% less. I will not reach the ROI. They have expensive investment renting GH. I think they have sold their vip shares and now only they have benefits. I doubt I earn which I invested with them.
A very bad experience.

Topic: Mining sweden is a scam - page 2. (Read 3552 times)