bitclub network mining machine

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Bitclub Network gives you the opportunity to start mining and making bitcoin with a relatively low entry point compared to other mining pools. In order to joinBitclub Networkyou must purchase a membership witha share in anymining pool.

Bitclub Network is not owned by any single person or entity, we are a team of experts, entrepreneurs, professionals, network marketers, and programmers who have come together to launch a very simple business around Bitcoin and other Digital Currency mining. With our membership you have complete control over what coins you want to mine with your hashing power.

Bitclub Network has been running one of the largest and most trusted mining operations for over 3 years now. During this time we have built a global membership of people who are helping to educate, provide services for, and ultimately profit from Bitcoin, ClubCoin, Ethereum, Ethereum Classic, DASH, Monero, Zcash, and more.

the making of bitclub network scam - cyprian is nyakundi

Ladies and Gentlemen,the following message is meant for bothBitclub Network members and the would beBitclub Network victims.Just to make an introduction, there is an entity that was introduced into Kenya in 2015 calledBitclub Network that purports to be miningbitcoin and currently has a membership nearing 3000 or more in Kenya and close to a million worldwide. It applies an MLM model and promises passive income even withoutreferring anyone into the business. This ismeant to be achieved by earning daily mining earnings that are meant to be a return to your investment. One invests about Ksh.70,000/= per share. The share is expected to mine for 1000 days, after which it becomes obsolete. This purchase of a share yields daily earnings paid inbitcoin. However, as at the present, the mining earnings are approximatelyKsh80/=. Therefore,if you divide 70,000/= by 80/=, it will take you 875 days to recoup your money. This is equivalent to 2 years, 5 months. Is that a worthwhile investment?Definitely not! Therefore, the only way one can actually earn is by referrals, which putsBitclub Network in the category of scams.

The question we ask ourselves is: how is it possible that with suchmeagre earnings, so many people have fallen for it? The answer is very simple. The members apply deception to rope you in. These earnings are low because they actually decrease every single day from the day you invest. Sohow do theBitclub members deceive you?By showing you their historical earnings andearnings from other shares that have been repurchased over a period of time. They will show you a figure that reads last 30 day earnings and then calculate an average that may indicate a figure as high as $3 per day. What they dont show you are the present daily earnings. Remember, the daily earnings fall every day and to make matters worse, you start earning after 30 days. By then the earnings are significantly lower andwoe unto you if thebitcoin price has come down. The moment this happens, your next instinct is to call yourupline who introduced you into the business. Here, two things will happen: either they will pick your call and tell you that they never promised a fixed income and that if you are not happy, you can contact the companyBitclub Network, with no known headquarters to ask for your machines back (machines that dont exist at the price of your investment) or they will completely ignore your calls and your texts because they are already working on their next victim. There areWhatsappand Telegram groups for the members in which dissent is not tolerated. Anyquestions raised about dissatisfaction with the level of earnings is met with stiff resistance by the top earners. They are ordered to shut up on the side. If one persists, they are removed from the group, which is what I went through. They have even went to the extent of threatening anyone who is found to be engaging in similar activities with another entity shall have theiraccounts closed and that they will lose their investments. Their mode of operation is that once you invest in them, they own you.

This art of deception and intimidation of members has been perfected by two of the topBitclub Network earners:Mr.RaymondKaptich and MissAerleneMugambi. These are the high priests of theBitclub scam in Kenya.These two characters have putBitclub Members under a vice-like grip and have become the law untothemselves and whatever they say is the gospel truth for the poor members who are terrified to say anything that they dont approve of. I am still a member and was thrown out lastyear in December because of asking too many questions. I was thrown out because I was providing too much proof to actually confirm that we are indeed, unknowingly, in a scam.Bitclub Network has been feeding us with a lot of false promises regarding improvement in earnings and this was what provoked these questions that were quickly quashed. Any entity having something to hide from their members and constantly providing false promises is definitely a scam as I shall demonstrate later in this article.

I want to divide this article into two parts. The first part will be exclusively for my fellowBitclub Network membersand it illustrates how we are being taken for a ride. This is the information I tried to post in your groups but was brought down in less than 15 minutes. This part comprises the news updates that only theBitclub Members are familiar with. The second part is proof ofBitclub as a scam and this is for bothBitclub Members to know that unfortunately, we were scammed and alsoto educate those who dont knowBitclub Network or know but haventjoined so that they can make an informed decision. It will further give us both tips on how to judge if an MLM is legit or not.

To theBitclub members, belowis a step by step analysis of the News Updates that we have been seeing posted in ourwebsites. News that was meant to assure us that a lot was being done to address our falling earnings but unfortunately, it is just a chronology ofvery blatant lies that gives a clear indication that the person who wrote these articles either has a multiple personality disorder or is just intellectually challenged. Here we go:

Before I sat down to write this,I had done an extensive analysis of what is happening with BCN, especially the deceptive updates, behavior of our leaders and overall the mood of BCN members. If anyone needs further clarification, feel free to call me on 0722818883. We cannot continue letting some few rotten eggs tell us what to do and what not to do because they think they have some sort of power that only God knows where they got it from!

After careful research and watching BCNbehavior, and by extension, the behavior of our leaders, I can now authoritatively and without hesitation, declare BCN very clever scam and I shall demonstrate this as follows (actually these are the telltale signs of a scam and BCN fits in very well):

NB: For those who are not members ofBitclub Network, Ive been referring to a name Russ who is the face ofBitclub Network. His full names are Russ Medlin. Follow this linkthat will give you an insight about Russ the criminal andBitclub Network the scam:

The question now begs: How did Russ fool the world into his scheme? First, he picked the nameBitclub Network & made us believe that it is a real companybut the clincher is when he uses the narrative thatthey are registered on the block chain platform. Therefore he goes ahead and tells us that any name not appearing on the block chain pie chart is not legit. He capitalized on our ignorance and that is why we believed him. Just to give an example and prove that these were all lies, Genesis Mining is a legit mining company but it does not appear on the pie chart. The reason you dont see Genesis Mining on the pie chart is because they areminers and not a mining pool. They mine in those pools appearing in the pie chart. This is what we didnt know.

By the way, if you really want to know where BCN is ranked in the world of cloud mining companies, just follow this link:https://netbusinessrating.com/en/categories_list .Under crypto currencies, click on cloud mining websites. There you will find some sites and in total, they have ranked 56 websites. The number one is Genesis Mining with the status legit. You will see others with the status New, Promising, Scam and Doubtful. You will find BCN on page6 at no.51 and it is considered as Doubtful. This is very worrying considering that BCN has been in existence for almost 5 years now. Given this ranking, would anyone intheir right mind invest in BCN? NO!

In conclusion, ladies and gentlemen, for those of us who are members, now we know what we got ourselves into and my advice to my fellow members is dont recruit other people so that you can make money. This is a sure way of destroying your friendships and reputations. For those who are lucky not to have joined, if anyone approaches you with an idea of investing inBitclub Network, please run for the hills!

Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [emailprotected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.

the 7 best cryptocurrency mining hardware for 2021

Amid the global GPU shortage and expired import tariff exemptions, is it still worthwhile to get a Bitcoin mining machine? While this may depend on whether Bitcoin remains in the bullish territory or if your electricity cost is relatively cheap, its always prudent to take an overview of the market and figure out the best Bitcoin miners.

When it comes to cryptocurrency mining profitability, it all comes down to balancing the initial cost of the Bitcoin mining machine, its power draw, and its hash rate. Once you have these figures, its easy to calculate your gains based on Bitcoins block reward and your electricity cost by using this mining calculator. With that in mind, lets take a look at which ASIC miner has the optimal balance.

Chinese Canaan Creative is a well-established player in the crypto mining arena. Some would say it is the first company to offer a dedicated ASIC Bitcoin mining machine since its first model in 2013. AvalonMiner 1246 is a heavy-duty mining machine, demonstrated by its four integrated fans, which ramp up to a very uncomfortable noise at 75dB.

This is considered very loud traffic noise, so be prepared to have a dedicated mining space with noise isolation on the door. Nonetheless, it boasts high efficiency at 38J/TH. Additionally, it comes with a one year warranty and integrated AI microchip. As with most ASIC miners, due to high demand, you may find it difficult to find but first, take a look at the official manufacturers page.

Almost equal hash rate power and power draw at twice less the price, AvalonMiner A1166 Pro is so highly sought after that it is even more difficult to acquire. This Bitcoin machine has a hash rate efficiency at 42J/TH, 4 higher than the AvalonMiner 1246. Although it still costs as much as a high-end PC, its a steal at that power efficiency.

Unfortunately, it appears that Canaan cut some corners to make it this affordable, as it only comes with 180 days warranty. Also, if you are buying it directly from the manufacturer, you will have to get a minimum of 5 to get them shipped. All five would yield 405 TH/s, netting about $115 per day. It uses the same fans as the previous model, so expect the noise to be equally bothersome.

One of the newcomers to the mining arena launched last year, this super-affordable Bitcoin mining machine uses Samsungs 8nm chipset. Unfortunately, the latest doesnt mean the most efficient, as you can tell from its power draw that is comparable to AvalonMiner 1246, but 30% less efficient.

However, it is also 4 5 times less expensive than top of the line ASIC miners, so its a solid investment if you intend to have your RoI in less than four months. It offers 180 days warranty and comes bundled with a power supply unit. The M32 series comes in three versions, with the most expensive one yielding 66 TH/s.

Another model from Chinese MicroBT, the M30S++, is a Bitcoin mining machine beast with the highest hash rate power available on the retail market. Surprisingly, its power draw is quite low, which means it is also one of the most efficient ASIC miners at 31 J/TH. However, with a price tag at a minimum of $10k, you need to be heavily committed to Bitcoin mining.

With a moderately priced electricity cost, you can expect an ROI within 10 to 12 months, if the Bitcoin price doesnt go under its current range ($55k $57k). Having been released just last October, it too uses Samsungs latest 8nm ASIC chipset.

Going head-to-head with M30S++, this Bitmain ASIC miner offers 29.5 J/TH efficiency. Combined with a drastically improved boot time and user experience thanks to the updated firmware, it can be considered the best Bitcoin miner on the list. Unlike M30S++, it uses a 7nm TSMC chipset, much like the latest generation of non-mining AMD Ryzen CPUs.

Chinese Ebang counts itself among top Bitcoin ASIC manufacturers. Its latest model comes in a classic, compact, tubular design with an efficient exhaust and intake fans on both sides. Its software setup is equally efficient with the Simplify IP setup to quickly commence Bitcoin mining directly via Ethernet.

Covered by one year warranty (half a year for the whole machine, one for the controller), EBIT E11++ is built on a 10nm chipset. Due to its hash rate efficiency that greatly falls behind AvalonMiner A1166 Pro, it should be the last on your list, if nothing else is available.

Released all the way back in 2014, this model still holds up, accounting for its low electricity consumption and hash rate efficiency at 0.51 J /GH. Likewise, it is extremely compact at only 2.5kg, while its cooling is greatly helped with an open top design. It is a perfect fit for those who live in smaller apartments, as it has a maximum noise level at 65 dB

If you already have a formidable PC, you can try transforming it into a Bitcoin mining machine at no initial cost. Just as games have a minimum system requirement to be playable, Bitcoin mining has a minimum requirement in order to be profitable:

If you want the best output all-in-one workstation, uncompromised gaming, mining for your next PC, try AMD Ryzen Threadripper 3970X. This would be considered a supercomputer not so long ago, thanks to its 32 cores and 64 threads. It also has a massive cache of 144MB and power draw at 280W.

At the current Bitcoin (BTC) price point of $55K, a single, medium-ranged Bitcoin mining machine with 50 TH/s would be able to mine 1 BTC within one year. As you can see, we have long passed the threshold where Bitcoin mining can be effectively done at such a small scale.

Nonetheless, there is an alternative form of crypto mining in the form of cloud mining. For example, StormGain offers a cloud mining service with which you can mine up to 0.0318 BTC per day. This is a legit way of mining without suspicious malware being installed on your computer, or even having to have a mining rig. Otherwise, StormGain wouldnt be a member of the Blockchain Association of the Financial Commission.

In the early days of Bitcoin adoption, it was commonplace to employ commercial GPUs for cryptocurrency mining. While people still use that method in areas with cheap electricity, such an approach to Bitcoin mining has long outlived its cost-effectiveness.

In fact, Bitcoin was originally coded to be mined by CPU power, not GPU. Only later did Bitcoin core developers decide to harness the greater hashing power of GPUs. Eventually, even they were outclassed by specialized hardware called ASIC miner, standing for Application Specific Integrated Circuits. Any serious Bitcoin mining farm now consists of ASICs. Otherwise, it couldnt be profitable.

Although not on the list because it has only been announced last month, it seems that Bitcoin mining machines from BitWats are poised to be the most profitable mining rigs. Out of three, the one with the lowest price, at $5,000, reportedly has 360 TH/s at 550W power consumption.

A single ASIC miner, such as AvalonMiner A1166 Pro, capable of about 81 TH/s, could make about $23 per day. Of course, this is excluding the cost of the unit and ongoing electricity costs. If you are not prepared to invest in an ASIC miner, outside of cloud mining with StormGain, you could also join a mining pool.

Mining pools represent coordination with fellow miners, combining computing power to add a new block. Once the block is mined, the block reward is then shared among all the pool participants. As you would expect, most mining pools can be found in China, seconded by Malta, and then in the US. There are several mining pools to choose from:

Note that the pools region is not relevant to the process, so that you could join a Chinese pool from the US. Also, keep in mind that mining pools are different from cloud mining; as for the former, you have to have a mining rig.

Lastly, if some unknown Bitcoin cloud mining or pool mining website seems too good to be true, its likely a scam. The biggest such scheme was BitClub Network, when three fraudsters were arrested for pilfering $722 million worth in crypto assets. The common tactic is to promise a share in the hashing power for an initial investment. As befits a true Ponzi scheme, scammers would then also ask the investors to bring in new recruits for rewards.

Rahul is an India-based Digital Marketer who became attracted to Bitcoin and blockchain technology in 2014. Ever since, he's been an active member of the community. Other than that, he is a die-hard gamer. This gadget freak is well renowned in his circle for binge-watching Game of Thrones.

5 best bitcoin mining hardware asic machines (2021 rigs)

Bitcoin mining is competitive. Its not ideal for the average person to mine since Chinas cheap electricity has allowed it to dominate the mining market. If you want bitcoins then you are better off buying bitcoins.

Originally, Bitcoins creator intended for Bitcoin to be mined on CPUs (your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).

Efficiency Youll want to buy the most efficient bitcoin mining hardware possible. Right now, this is the Halong Mining Dragonmint T1. Since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins.

Price How much does the bitcoin miner cost? Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more.

Don't forget to think about your tax obligation on the coins you buy or mine. There are some great tax software suites to make it easy! For instance, we have a great guide on how that software works to pay taxes on Coinbase buys.

Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central authority and gives it to the average person. Sensitive information is stored on the blockchain rather than large data centers, and is cryptographically secured. A vast amount of people, known as miners, all work together to validate the network, instead of just one person or government.

In the beginning, CPUs were used to solve cryptographic hash functions, until miners discovered that GPUs were far better equipped for mining. As block difficulty increased, miners turned primarily to GPUs.

With stellar performance comes a high price tag the best ASIC chips will run you a few thousand dollars each. Upon creation, Bitcoin blocks were confirmed by the average person using their desktop once ASICs hit the market, things changed.

ASICs rendered GPUs useless. ASIC developers, including Bitmain, granted early access to large mining cartels rather than the average person. Nowadays, a large majority of Bitcoin mining takes place in China where electricity is cheap.

When ASICs hit the market, the blockchains validation process became more centralized as more and more hashing power was consolidated into a handful of mining companies, rather than being spread out amongst many miners. Unfortunately, Bitcoin is no longer as decentralized as it was once intended to be.

Mining difficulty on the Bitcoin network has been steadily rising at a rate of almost 0.5% per day. Combine that with the fact that the block reward was halved in May 2020, and you can see why theres fierce competition between miners to successfully validate blocks and remain profitable.

As you can see, the S19 is actually a great investment. Youll almost recoup your entire initial investment in under a year - if paying full price for the S19 from Bitmain - and easily mine your way into the black if you get a discount on the hardware when purchasing.

The WhatsMiner M30S+ operates best between -5 and 35 degrees Celsius (23-95 Fahrenheit). This is a wider range than the AntMiner S19 series, and the lower temperatures it can operate at means you may see slightly improved efficiency.

While youll spend nearly $3,600 per year on electricity, the WhatsMiner M30S++s 112 TH/2 will make you a profit of $3,611 per year. This means that youll need to mine for a little under a year to recoup your initial investment.

Despite this, you get more hashing power per dollar invested with MicroBTs WhatsMiner offerings. And AntMiners are incredibly sought-after by the biggest miners in the world, making it hard to get your hands on one.

We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. Either they dont know what they are doing, but that is not very likely at this scale or they have some secret advantage that we dont know about. Sam Cole, KNC CEO

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this alleged bitcoin scam looked a lot like a pyramid scheme | wired

The world of cryptocurrency has no shortage of imaginary investment products. Fake coins. Fake blockchain services. Fake cryptocurrency exchanges. Now five men behind a company called BitClub Network are accused of a $722 million scam that allegedly preyed on victims who thought they were investing in a pool of bitcoin mining equipment.

Federal prosecutors call the case a high-tech plot in the complex world of cryptocurrency. But it has all the hallmarks of a classic pyramid scheme, albeit with a crypto-centric conceit. Investors were invited to send BitClub Network cash, which would allow the company to buy mining equipmentmachines that produce bitcoin through a process called hashing. When those machines were turned on, all would (in theory) enjoy the spoils. The company also allegedly gave rewards to existing investors in exchange for recruiting others to join. According to the complaint, the scheme began in April 2014 and continued until earlier this month.

Matthew Brent Goettsche, Jobadiah Sinclair Weeks, and Silviu Catalin Balaci are accused of conspiracy to commit wire fraud and conspiracy to offer and sell unregistered securities. A fourth defendant, Joseph Frank Abel, faces only the latter charge. Another unnamed defendant remains at large. Balacis name was redacted from one public version of the indictment, but appeared on another.

The scheme appears to have started as a relatively modest scam and spiraled dramatically in ambition. Internal messages between the conspirators give the impression of growing glee at the ease of taking advantage of investors, referring to building this whole model on the backs of idiots. The men allegedly described their victims as dumb investors and sheep.

In October 2014, a few months after BitClub Network was founded, Goettsche allegedly posted about the need to fak[e] it for the first 30 days while we get going, instructing a co-conspirator to do some magic on the companys revenue numbers. They allegedly agreed on a method of cooking the numbers that would include inconsistencies to make sure they appeared real. The tricks swiftly became more daring. Later, Goettsche allegedly suggested the company bump up the daily mining earnings starting today by 60%.

That is not sustainable, that is ponzi teritori [sic] and fast cash-out ponzi . . . but sure, Balaci responded, according to messages included in the indictment. A September 2017 email from Goettsche allegedly suggested the company [d]rop mining earnings significantly starting now so that he could retire RAF!!! (rich as fuck).

The defendants also allegedly sold shares of the company in violation of securities law, traveling around the world with marketing materials that touted the company as transparent and too big to fail. (The BitClub website now has a disclaimer saying investments are not available to investors in the US or the Philippines.) At one point, one of the defendants appeared to express remorse, referring to selling shares in BitClub without using the money to purchase mining equipment as not right.

The identities of the alleged victims are unclear, but there are hints in still-online videos and advertisements that the company had wide reach. In one ad, appearing on the website of Ben Franklin Technology Partners, a nonprofit investment firm affiliated with the Pennsylvania Department of Community and Economic Development, a company calling itself BitClub Network promotes Founder status for people who agree to purchase shares in four purported mining pools. The going rate was $1,000 per GPU share, a unit of measure that isnt illuminated in the marketing materials. (Ben Franklin did not respond to an after-hours request for comment).

In 2018, a large number of Facebook posts about BitClub Network caught the eye of Japhet Mesa in Zambia. In a Medium post, he described what he saw as signs of a scam. Despite BitClubs claims of radical transparency, the location of the purported mining rigs appeared to be a mystery, and the individuals behind the company were hard to identify. Going by the hype around BCN, I was amazed to see the number of people getting into it, he wrote at the time. This could be seen by the number of people posting about it on social media, facebook especially.

The crypto world is rife with scams. The grift reached a fever pitch in 2017, when bitcoin prices spiked and scammers lured victims to invest millions in cryptocoins or blockchain-based products that would never come to exist. Schemes around participation in mining pools are also popular to scammers who sell customers on the narrative of participating in business ventures that effectively amount to printing money. Thats become all the more tantalizing now that mining is mostly out of reach for many stay-at-home miners. (The selling point is that large mining pools enjoy greater efficienciesand thus returns.) In January, a man in Hong Kong was accused of a similar mining pool scam that allegedly included an advertising stunt that involved throwing money off of a skyscraper.

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3 examples of bitcoin cloud mining in 2021 - legit or a scam?

Cloud mining is a general term given for sites that charge a monthly fee in exchange for mining cryptocurrency for you. In this post Ill cover what cloud mining is in detail and expose the truth about its profitability.

Cloud mining is a term describing companies that allow you to rent mining hardware they operate and maintain in exchange for a fixed fee and a share of the revenue youll make. It basically means that you can mine remotely without the need for buying expensive mining hardware.

Most, if not all, cloud mining companies today are either plain scams or work through an ineffective business model. By ineffective I mean that you will either lose money or earn less than you would have by just buying and holding Bitcoins.

In light of this, cloud mining seems like the perfect solution: You rent hash power from miners that are located in a remote, cool location. The cloud mining company takes care of maintaining the miners and you share the revenues of the operation. If you google the term cloud mining youll find endless possibilities to jump on board. Most of these websites will show you tons of confusing numbers (especially if youre a newbie) and promise that cloud mining is the easiest and most efficient way to earn Bitcoins.

The main model of legit cloud mining companies use is a lose lose paradigm. If Bitcoin goes up in price youll earn less than if you just bought it. If it goes down you wont earn anything and youll probably lose the money youve invested.

Aside from the cloud mining contract payment which is usually a fixed sum, companies charge a maintenance fee. The maintenance fee is the cost of running the mining hardware, cooling it, storing it, etc. The maintenance fee is usually calculated in USD per mining power unit (e.g. $0.14/TH).

Since mining revenue is accumulated in Bitcoin and maintenance fees are paid in fiat, if Bitcoins price falls the revenue might not be enough to cover the ongoing maintenance. In that case, the company will just terminate your mining contract without any refund.

In the event of a contract becoming unprofitable (i.e. the payout cant cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days.If the contract does not return to profitability in this period it will be terminated.

On the other hand, if Bitcoins price shoots to the moon, the mining difficulty usually goes up as well, making your miners less profitable. To sum it up, in both cases youre probably better off just buying and holding Bitcoins. Youll either lose less or earn more.

If you do a quick search online or even read my own reviews about these companies, youll find a large amount of testimonials from people who got their contracts terminated during the long crypto winter that started in 2018.

Aside from legit cloud mining companies, we also have complete scams. When Bitcoin started to gain momentum, a lot of ponzi schemes came to play, with the most famous ones being Bitcoin Savings and Trust, Bitconnect and OneCoin.

Another name for Ponzi is Pyramid Scheme. Its a type of investment scheme where you need to invest money in order to participate. The people who came in first get paid by the ones that came after. Eventually the payouts stop for some reason and the people at the bottom of the pyramid are left with nothing.

In my opinion (and in the opinion of respected others as well) most of the cloud mining companies are plain Ponzi schemes. Meaning these companies dont actually have any mining rigs set out in a remote location and the money that you pay is used for paying out older customers and the company itself.

Most people wont press charges when a few hundred dollars are stolen from them, so when the company goes bankrupt or just plain vanishes, all that is left are a bunch of angry people. Hey, it happened to me as well

For almost every fraudulent website on the web theres someone who already posted about it. Either search BitcoinTalk for information about that company or go to BadBitcoin for a list of the well known scams.

Probably the most important tip if youre going to get into cloud mining, do it little by little, and NEVER (and I mean NEVER) invest more than you can afford to lose. The way most of these companies work is that they lure you in, little by little, and once you get the big money in they close down without any notice.

Ive developed our own methodology for inspecting different Bitcoin related sites. Its a series of questions that will eventually give you a pretty good idea if the site youre looking at is a scam or not. You can take the test here.

Very well thanks. Cryptoplace.cloud was the biggest scam I had ever experienced. I gave all my time into it until I was at the highest level. I withdrew twice in the beginning and 90$ was paid in total from. All withdrawals from $500 and above in every crypto form was never successfully deposited.

To find the answer to the question, Is cloud mining services are scams? Just think in this way. Everybody provide services or do business for their profits. THEN WHY SHOULD THEY GIVE US THEIR MINING POWER FOR SOME RENT OTHERTHAN THEY USE IT TO MINE FOR THEMSELVES. All cloud mining services are claiming that we are going to make more money than we are paying the rent for the mining power. that means if they use their mining power for mining rather than renting they are going to make more profit. IF SO ARE THE CLOUD SERVICE PROVIDERS ARE FOOLS TO MAKE THIS OFFER. This clearly tells that THEY ARE ALL SCAMS. JUST SIMPLE LOGIC.

bitclub network marketing plan

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