Topic: The Most Cost-efficient Cloud Mining Contract (Read 584 times)

Give us free THS and we'll see if it's legit

A newbie vouching for a 'cloud mining' site......
 
Screenshots, or you're a shill.
I see your future, I see red.....

I reckon you score 8/8 on this test, just like Halley and Zeus did. Well done! 

Criteria to help you spot a cloud mining scam/ponzi.

1) No public mining address / no user selectable pool.
A cloud mining company that wont let you direct the hashrate to your pool of choosing and cant prove its actually mining bitcoins itself, is very likely a scam. There is no reason to hide mining address or not sign blocks. None.

2) No endorsement from any asic vendor
Asic vendors will gladly make a simple post to show the company in question is a significant customer of theirs. Its free advertisement for them and it helps their customer grow their business, so there is absolutely no reason they wouldnt. If a (cloud) mining company cant get any asic vendor to post such endorsement, you should assume they dont have any hardware to mine with.

3) No relevant pictures of their hardware and datacenter
There is no reason not to provide such pictures, except of course, if there is nothing to take pictures off. Mind you: pictures can be faked. Picture dont prove current ownership. So like all criteria listed here, by themselves they are by far insufficient proof.

4) Open ended IPO / fractional reverse mining risk
Unless the cloud mining is operated by the asic vendor himself, you can not sell an unlimited amount of hashrate. Hardware takes (usually a long) time to order, arrive and deploy. Any company that doesnt limit sales or make public how much hashrate they sold vs what they have (provably) deployed should be considered  suspicious.

5) Referral programs and social networking
Referral programs, especially ones that pay almost 10%, are a huge red flag. The mining market is cut throat with razor thin margins. No real company can afford to pay 10% referrals on below market cloudmining prices. Referral programs almost always serve only to feed the ponzi and provide financial incentive to posters to lie about the true nature of the company. Never trust anyone with a referral link in their sig.

6) Anonymous operators
If the operators are hiding behind whoisguard, provide no provable identity and especially when, like in some cloudmining cases, they use demonstrably false ID or company registration information, you have to be nuts to trust them with your money.

7) No exit strategy
If you cant sell your position, you cant get your money out. Thats the ideal case for a ponzi and allows it to run for a  long time.

8 ) Bonus point for "guaranteed profit"
So far, Ive only seen bitcoinmaker.ch do this. If anyone guarantees you a bitcoin denominated profit, and especially a 30+% one, you can be sure its a ponzi, all the other criteria become unimportant. There is no such thing as certain profit when it comes to mining, no one knows how the network will evolve, or what btc exchange rate will do. If anyone could somehow be certain of making a 30% profit, they wouldnt need your money (and they wouldnt give the profit to you).

Just tested the speed of withdrawal , pretty fast

OXBTC recently released a promotional cloud mining contract with “A Price No One Can Compete With” as they state at only $149 per THS, which seems to be the lowest price among major cloud mining service providers globally.
However, it is only a short-term promotion with limited supply as well for the most cost-efficient contract. From March 21st to March 30th, people will have a chance to purchase 100 GHS AT MOST for each account on www.OXBTC.com and they have a sales limit of 5 THS every day during the 10-day promotion. So first come first served.
We’ve done a little comparison of the mainstream prices for cloud mining contracts. OXBTC does have obvious competition:

Platform --- Price (per THS) ---- Minimum Purchase
OXBTC.com --- $149 --- 1 GHS;
CEX.io --- Trading Only --- Trading Only;
Hashnest.com AntS7 --- $151 --- 4.86 THS (an S7 unit);
Hashnest.com AntS5 --- $312 --- 1.155 THS (an S5 unit);
BW.com --- $238 --- 10 GHS;
Hashflare.io --- $220 --- 10 GHS;

Besides the promotional mining contract, they are also offering major discounts on the currently sold OXBTC GHS02 contract. It is a good opportunity to buy some cloud hashrates at such a low price if you don’t have a big budget to experience another way of mining. Trading of hashrates on OXBTC market is available too if you want to sell out your contracts.
OXBTC – a new cryptocurrency investment platform which offers both cloud mining and deposit services was launched a couple of months ago. Founded by several well-established investors in China, they have an experienced R&D team who has been in the cryptocurrency industry for many years.
Benefited by a very competitive electricity cost and the economy of scale, OXBTC has deployed 3 of China’s largest mining farms in Sichuan, Ordos and Inner Mongolia. Till now, OXBTC has been running 5.6 PH/s hashing power with the electricity cost as low as 15 cents per kWH. Backed by partners that bring the most cost efficient Bitcoin/Litecoin miners in the world, OXBTC is able to provide the most stable and profitable cloud mining services.
Despite the concern that cloud mining needs a longer term of ROI, it’s still not a bad choice if you want to mine for coins. And the special price OXBTC offers surely provides a good chance for you to make a small investment.