Topic: Scrypt.CC | Scrypt Cloud Mining - page 427. (Read 750572 times)

For all those defending scrypt.cc, I'd like you to explain how a large scale mining operation could run based on auto switching between scrypt coins.  Take a look at any scrypt coin, it's block reward, and block time.  If you do the math, you'll see the total Bitcoin value that each coin produces in one day.  A few coins produce 5 or 8 bitcoins a day but for most, it's less than 1 Bitcoin.  That is the total amount produced by the entire network for each coin.

In order to pay out 100+ bitcoins a day, a scrypt cloud miner has to allocate most of its hashing power to litecoin.  Litecoin is far less profitable than Bitcoin.  For a while Scrypt.cc boasted a two month ROI.  Do the math yourself and try to figure out how one could allocate 500+ ghs of scrypt hash power and achieve a two month ROI.  It's impossible.

Not to mention that Scrypt.cc's stated cost for their hashpower, something like $2.50 per ghs, is ridiculously low.  If you believe they paid this price, it means you believe they found a manufacturer to sell them hardware at a cost per ghs that is far lower than even still unreleased, next generation scrypt mining hardware.

Smart people knew that Bernie Madoff was running a Ponzi early on because a little market analysis showed pretty simply that he couldn't be doing what he said he was doing.  It's the same thing here.  You can analyze Scrypt.cc by understanding the larger market for scrypt mining.

No one cares cryptodevil

Just to add to the collection of reasons to suspect SpanishSoldier/GermanGiant/RussianRainbow as being directly connected to cmmonitor.com and, by default, part of the scrypt.cc scam:

Now, given the delicate nature of the relationship between Ukraine and Russia, I'd be fairly confident in asserting that the sockpuppet account 'RussianRainbow' is meant to imply some sort of homophobic slur against the Russians, especially considering SpanishSoldier and GermanGiant are all clearly masculine, macho names.

So @SpanishSoldier, care to begin your screeching rant of hatred, or are you going to employ one of your lesser accounts, like 'killer625' to hurl abuse at me?

Thank you, although, as I said previously the condescension is only rolled out when I have to keep on pushing back against forceful ignorance.

Speaking of which:

Hi Killer, you big ol' shill, you!

Now, with regards to the cmmonitor.com website, the disconcerting fact is that it has been proven to be promoting a group of cloudmining operations over others and only when, one by one, they reach their terminal point and collapse do they then, often with quite a delay, report the ponzi to not be paying any more.

Somebody made a very pertinent observation which would also support my fears that there is a larger group of 'cloud mining' ponzi operators who are offering a revolving-door of shorter term scams alongside their longer-running ponzis because, after all, what better way to show how your long-running ponzi *must* be legit by ripping a load of bitcoin off suckers in the short term as well, through a re-skinned operation which you can then slate and encourage those who lost money in to join the 'legit' cloud mining operation, right?


https://bitcointalk.org/index.php?topic=843417.520


It would appear there is sufficient reason to suspect multiple scam operations are being promoted at many levels, short term, medium term, etc. Along with the usual vitriol and hatred being spewed by their shills/fanboys in threads where legitimate questions are being asked.

[edit]
Actually, I recall this which would also support the claim SpanishSoldier is promoting a slew of scams:

Because, as was pointed out in reply, no 'whale' worth his coins would touch 'cloud mining' ponzi schemes with a bargepole. It is simply a way to get newbies to believe that if they spread their 'investment' across a range of these operations then one of them will bound to be the one which makes them rich, right?

Your accusations are just accusations, baseless full of shit, it is just YOUR opinion which you are free to voice out, yet you keep on trying to tell people that you have some sort of magic 100% fullproof evidence that scc is a ponzi/scam whatever...

You just spam (yes the amount of your posts on the same subject qualifies that as spam in my book) that "oo booo hooo legitmate business does not pay referal rewards, MUST BE PONZI MENS ! ", don't know where you live, where you are from etc, but here where I live, gameshops have referal schemes, car dealers have referal schemes, even banks pay you bonuses for refering people to their bank. Of course they have to meet certain criteria for you to get paid as in have some money on the account or buy some stuff using debit card etc. Same stuff here, if you want to be rewarded your referal needs to buy KHS otherwise you get jack shit just like in real world. So please try to convince me and everyone else who thinks that you are just hating on the scrypt.cc because they refused to send you a selfie with their mining hardware, that referal system is pure evil and a 100% indicator of a ponzi scheme. So far you just keep on repeating same stuff over and over again.

Apart from the condescending intro (you really can't help yourself, can you?), this is one of the first constructive posts I've seen from you.
Better.

Good morning, scammers, shills and their marks!

Given the excruciatingly painful displays of what passes for logic and reason around here, it seems I *am* going to have to walk you through it.

Here, I found a simple explanation written by a fifth-grader, this should help:

"Say you went to your sister and told her, if she gives you a dollar to invest today, you will give it back to her on Tuesday next week and she will get $1.25. Then you go to your other sister and tell her the same thing only you will give her $1.25 Wednesday. Then you go on to your dad and every person you know and tell them the same thing. As you’re going around asking for money from other people you know, you give your first sister her $1.25 and she’s happy to have twenty five cents extra just for letting you invest her $1. So she says, why don’t you keep my dollar and invest it some more? So you say, OK.

But the thing is, you weren’t really investing it were you? You were just using other people’s money to make it look like you are earning money for them. Do you see how you will eventually run out of money especially if they all ask for their money at the same time?"

So, with regards to the referral system you desperately want to not be the basis for what it is, I will ask again, why would a legitimate business with nothing more to sell and, as 'ilic' quite correctly pointed out, not wanting the hassle of more newbie customers who all ask 'dumb' questions and need far too much customer support, continue to promote themselves by way of a 'referral bonus' system?

You see, every time a new 'investor' is referred to the scrypt.cc Ponzi scam, part of the money they pay in is used to pay the earlier 'investors' withdrawal requirements and, as the example shows, in most cases greed causes early 'investors' to plough most of their 'profit'  straight back in to the scheme so they can 'compound' their earnings, meaning very little actually has to be available to cover withdrawals as very few 'investors' withdraw their entire funds, albeit some will do exactly that on occasion, but by then there is usually more than enough money in the system to cover as the ripple effect of referrals brings more and more 'investors' into the bottom of the scam.

The ONLY money that the scypt.cc ponzi scam needs to concern itself with, is the actual currency being pumped into it and the actual currency which is withdrawn out of it. All the in-between 'buying' and 'selling' and 'mining' is simply numbers on a screen which they control. If they wanted to they could declare any profit-rate they liked for cloud mining, but it would only be sustainable at a certain rate depending on the fresh funding coming in from the referrals, which is probably why these 'power issues' and such arise, because they need to very carefully balance the need for the greedy 'investors' to believe they are better off 'compounding' their 'profit' instead of withdrawing it and making sure not to quote a too-high return which would see more profit-taking events where people opt to withdraw larger amounts than that which is being introduced into the scheme.

I find this: http://www.cmmonitor.com/ extremely disturbing. It is a website dedicated solely to declaring whether a 'cloud mining' operation is currently processing withdrawals and what 'returns' each scam is offering. There is no mention of validating whether any of these operations are legitimate. It suggests a larger, coordinated group of scams may be being operated, particularly when you read of the marketing emails one ponzi group of 'investors' receive from another 'cloud mining' operation. Suckers are suckers, I guess, so they'll simply create multiple houses of cards and you can move around the same group believing you are cleverly 'spreading your risk'.

Let me make one thing clear, the moment a 'cloud mining' operation is listed on that site as not paying, that's when it is already too late unless the scam in question has scrabbled to come up with an excuse for a 'temporary' problem for which they can then use their own large profit to cover the shortfall in their in/out equation, with a mind to then manipulating the market further to fine-tune their parameters so that they can get back to trying to keep the scam running.

Is there any way to contact Scrypt.CC admin or support team instead of support ticket? I tried email and support ticket but could not.

OK thanks. I guess we will have to wait and see what happens then.

Edit:  Woah thanks for that link m1, that data is very helpful.  It is one thing I like better about hashnest is that it has a candlestick chart so you can see trends forming and walls holding.

It's not fully based on a guess, but from what i've experienced minor rewards increase already made prices going unconpatible with the reward increase, and the trollbox hype helps a lot, whales will play with people coming back to service and all that stuff.. What i'll do is keep on track on day 1 to see how it goes...  if it reaches close to 1100 i will probably sell (would not in case i see statistical potetial for more on orders)... but that's it a small gamble to get a few more..

If he brings reward 30% UP, the price ll go up more less the same. But this is one big IF.

Woah you really think it will go up to 1100?  I just bought ~1btc worth the other day at 920, I might have to sell if it goes that high.  I guess it depends on the new rate.  Has this happened before on this miner, or is this just an educated guess?

True. There are some people on Bitcointalk who wants to jump into every investment related discussion and try to force their opinion about what is a Ponzi and what not.

That's a good point you have, but i'm still taking some more risks by guessing some users that leaved the plataform for faster ROI providers may come back in the first days of june when new rate kicks in... I do expect the price reaching @1100 on the first hours to then come down @900 when a week have passed, despite even if my prediction are correct i will not get that much as i have a low investment there and not willing to spend a lot of time on keeping the market on track.

+1 Best opinion I could expect.

Discussion about ponzi or not is pointless since there're always two types of people with total different point of view.

Good explaining again ilic, just to complement the 5% refeeral bonus is paid by all users like a small fee that will be destined to this kind of payment they are not taking it from their own.
Another point as Cryptodevil likes so much to ppl prove his points are wrong...
Let me assume i suspect you are a killer, can you give me uncontestable proofs that you are not? Or a thief... any sort of criminal action. If you do are able to give me that than you are allowed to leave jail if you don't you born in there cuz you know guilty till the unguilty is proven.
(Arguments like i was with someone are not valid, once in your live you have been alone, and the person you refear as being with you can lie too.. A camera image on you 24/7 can be edited to... Just prove me)

My Trade Status : Sold and on Hold

After 48 hours my impressions did not changed @960 seems an iron wall for more price up.
Reasons may vary, but more realistic must be: Old investors that lost the sell chance before electricty cut that was above 1000, but their weighted khs average seems 950, trying to lessen their investment OR exit from cloud mining. The new auto investers buys nearly equals to these seller orders so price did not changed. Also my stock market experience always told me that  "Buy the expectation, sell the actual". Some people can see a great opportunity to buy before 1 st of June but i dont. Alas there are no great buy order at low prices, all buy orders came from auto investment. This makes a great problem for liquatation in any panic or mini depressive hit the enter button order.

Correct or not. This is a risk trading/investment platform.

Now the funny things is, and you'll laugh at this, I actually thought you were attempting to shout me down because you felt a reasoned rebuttal had already been delivered by one of your cohorts when, the rather mundane truth is, you *are* just simply posting to call me names?

How disappointing.

Perhaps I should wait for you to log off and 'ilic' to log back on again and he can explain to me where his failure to properly understand the basic mechanism of a Ponzi scheme led to him posting that triumphalist, but erroneous, rant about his friends and how it 'proved' me wrong, except it didn't.

Now, I will stop arguing with you.

You completely miss the point where I NEVER said that your points are invalid, and keep asking for a rebuttal.
You also completely ignore every piece of evidence that you are (or at least come over as) a complete asshole.

You just do whatever you want man, my limited interest has now worn off.

I just have to remember this saying, and start ignoring you:

Oh, could you start using another word than "rebuttal"? It's getting kinda old.
Now, I completely understand how mere words as "response" are far, far beneath you, and might give the false impression that you're no better than us "dim-witted peasants".

But yeah, whatever floats your boat