Amist Jaiswal & Abhishek have also registered another company called 3 ACES CRYPTO TRADERS PRIVATE LIMITED on 12/07/2016 with CIN U74999DL2016PTC302856.
Topic: The Spread of MLM Scams: PowerHashing.com - page 2. (Read 3887 times)
Company master data about Power Hashing Solutions Pvt Ltd from Ministry of Corporate Affairs...
Amist Jaiswal & Abhishek have also registered another company called 3 ACES CRYPTO TRADERS PRIVATE LIMITED on 12/07/2016 with CIN U74999DL2016PTC302856.
Amist Jaiswal & Abhishek have also registered another company called 3 ACES CRYPTO TRADERS PRIVATE LIMITED on 12/07/2016 with CIN U74999DL2016PTC302856.
Thanks tmfp for pointing this out.
Powerhashing is actually conducting a seminar in Bangalore.
Powerhashing is actually conducting a seminar in Bangalore.
Maybe someone would like to go along and ask them a few questions based on this (cross posted from my main thread)?
So, mining proof.....
They say
Quote
Thanks to some great partnerships we have established with hardware providers, as well as to our bulk purchases, we get the best price on our employed technology. This means we get the hardware cheaper than the normal market price. What also bears great importance, considering the maintenance costs, is the storage of the miners: we have several farms and each location was chosen to fulfill two important criteria: cheap electricity supply and little or no need for cooling.
This is fairly standard bullshit. No specifics, nothing.
The last sentence implies a cold environment with geothermic/hydro energy, fashionably usually Iceland, Scandinavia or the wilds of China.
Being Indian based, maybe the Himalayas?
Maybe a State-of-the-Art installation, cooled with crystal clear mountain spring water, lovingly tended by Sherpas on their day off?
Maybe not..
Time for a YT video uploaded a couple of weeks ago, 33 seconds of mobile phone video shot by the looks of it in a disused shop, with about 24 x S5's and 15 x KNC Neptunes perched on some wooden shelving, wiring by a blind knitter and cooled by leaving the door open.
LADIES AND GENNLEMEN, I GIVE YOU POWERHASHING'S GLOBAL BITCOIN FARM
https://youtu.be/8UJEiJieAxI
State of the Fucking Art indeed....let's put some manufacturers spec numbers for this pile of obsolete crap thru a calculator.
I'll give them a generous $0.06 electric/overhead cost and a 2% pool fee.
So, Powerhashing's 78.6 Th/s of 2014's finest mining scrap will provide an annual profit loss of... $417.04
Yes, the other Hero on that flyer, Kartike Kanwar, is a serial MLM promoter who has apparently become a "Cryptocurrency Expert" over the last year or so, like so many of these "Life Changing Opportunity" sleazebags.
His promotional history includes Empower Network and Quanta, pretty much standard MLM "opportunities" where there is a theoretical central product which is being promoted as having value, with a tacked-on a leechlike MLM matrix to extract huge downline commissions, the real reason for the venture.
In the case of Empower, the product was a blog plugin and "personal development & Internet Marketing Training products".
In Quanta something its founder Jim Lutes describes as
These leeches are attracted to cryptocurrency because it is a barely understood buzz topic amongst the general public, where they can pretend to be experts educatinginvestors suckers in the simple art of Becoming Rich.
The promotional material for these schemes is littered with meaningless aspirational memes and precious little hard fact.
Events such as that listed above are just Rah Rah hard sell promos which will say nothing about the product, but everything about the commissions for affiliates.
In no Powerhashing promotion is any detail given about their mining operation. The monthly rewards they infer will be achieved for the next 25 months are barely achievable in theory now with sub 16nm gear, even without the huge financial drain of the Matrix taken into account.
My concern with these parasites is that for Bitcoin to continue to be adopted and grow, it must have a positive image with the general public.
Fake scams like these will have the opposite effect and if regulatory bodies ever bother to intervene, then it will be Bitcoin that is in the frame, not the MLM system.
His promotional history includes Empower Network and Quanta, pretty much standard MLM "opportunities" where there is a theoretical central product which is being promoted as having value, with a tacked-on a leechlike MLM matrix to extract huge downline commissions, the real reason for the venture.
In the case of Empower, the product was a blog plugin and "personal development & Internet Marketing Training products".
In Quanta something its founder Jim Lutes describes as
Quote
“My goal is to take that embryonic greatness that exists inside every person in America, foster it, empower it and then hand them personal strategies based on solid principles that allow them to take that new attitude and apply it to creating a life masterpiece”.
These leeches are attracted to cryptocurrency because it is a barely understood buzz topic amongst the general public, where they can pretend to be experts educating
The promotional material for these schemes is littered with meaningless aspirational memes and precious little hard fact.
Events such as that listed above are just Rah Rah hard sell promos which will say nothing about the product, but everything about the commissions for affiliates.
In no Powerhashing promotion is any detail given about their mining operation. The monthly rewards they infer will be achieved for the next 25 months are barely achievable in theory now with sub 16nm gear, even without the huge financial drain of the Matrix taken into account.
My concern with these parasites is that for Bitcoin to continue to be adopted and grow, it must have a positive image with the general public.
Fake scams like these will have the opposite effect and if regulatory bodies ever bother to intervene, then it will be Bitcoin that is in the frame, not the MLM system.
Thanks tmfp for pointing this out.
Powerhashing is actually conducting a seminar in Bangalore.
Powerhashing is actually conducting a seminar in Bangalore.
Multi Level Marketing is enjoying a renaissance courtesy of cryptocurrency, and India seems to be as enthusiastic as anywhere about this concept of "passive income".
When this potent idea, i.e. you pay some money and then, with little effort (apart from selling on this concept to anyone and everyone) the money rolls in and you live Happily Ever After, is allied by the presenters to cryptocurrency, then it all develops another appealing angle, "the System is Corrupt" etc.etc.
This was also the message with MMM, which also made a lot of converts around the world and resulted in a huge cash gifting scam which is causing a lot of misery, as 'investors' or "providers of help" learn the painful lesson that 2+2=4.
Anyway now the scammer's Flavor of 2016 is perfectly summed up by Powerhashing.com, which I've started writing about here
An MLM structure where money goes to the top, a vaguely described "mining" operation to fund it all and lots of trite Motivational Slogans add up to
When this potent idea, i.e. you pay some money and then, with little effort (apart from selling on this concept to anyone and everyone) the money rolls in and you live Happily Ever After, is allied by the presenters to cryptocurrency, then it all develops another appealing angle, "the System is Corrupt" etc.etc.
This was also the message with MMM, which also made a lot of converts around the world and resulted in a huge cash gifting scam which is causing a lot of misery, as 'investors' or "providers of help" learn the painful lesson that 2+2=4.
Anyway now the scammer's Flavor of 2016 is perfectly summed up by Powerhashing.com, which I've started writing about here
An MLM structure where money goes to the top, a vaguely described "mining" operation to fund it all and lots of trite Motivational Slogans add up to
SCAMS RUN BY SCAMMERS IN SHINY SUITS
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