Mon Jan 25, 4: I don't know a whole lot about cloud mining admittedly, but this redddit prompted me to look more into it. As I was researching, I found this great post by Puppet entitled "Cloudmining " and I thought it would be a great addition to the mining section here on the forum.
So with that said, I'm not the original author and I'm simply transposing what they wrote here for others to learn and educate muning about cloud mining. Bitcoin mining 101 reddit majority of cloudmining websites dont do any mining whatsoever. They pay out old customers via coinmixers from revenue that cloud mining reddit from recruiting new ones.
This is the common definition of a ponzi scheme. Now why would you care if these companies are mining or not? All that matters is they pay out, right? If the company or more aptly: Early investors might, but only at the expense of later ones. If cloud mining reddit mining is going on, then there is ,ining to generate cpoud profits.
So dont be fooled by low prices or high payouts. And dont think because its been running for 10 months, that it has to be legit either. Unlike bitcoin mining 101 reddit ponzi's, mining ponzi's dont risk a bank run. You cant get your money out if you begin worrying, so they can run a fairly long bitcoin mining 101 reddit. Take Rerdit, they have been around since the beginning of and havent failed to pay so far.
Does that prove its not a ponzi? So the fact they are still paying out doesnt prove they are legit, its actually far more likely they are bitcoin mining 101 reddit paying out because it maximizes their profits: Of course that bitcoin mining 101 reddit cloud mining reddit At some point the new sales will slow while the owed dividends keep going up. Once the latter becomes bigger than the former, guess what the anonymous operator will do? The same bitcoin mining 101 reddit mining reddit lunamine, coinsoncloud, pirate, bitcoin-trader and countless other mining ponzi's before did.
Think before you invest. A cloud mining company that wont let bitcoin mining 101 reddit direct the hashrate to your pool of choosing and cant prove its actually mining bitcoins itself, is very likely a scam. There is no bitcoin mining 101 reddit to hide mining address rdddit not sign blocks. Its free advertisement for them bitcoin mining 101 reddit it helps their customer grow their business, so there is no reason they wouldnt.
If a cloud mining company cant get any asic vendor to post such endorsement, you should assume clud dont have any hardware to mine with. Picture dont prove current ownership. So like all criteria listed here, by cloud mining reddit they are by far insufficient proof.
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 extremely suspicious. The mining market is cut throat with razor thin margins. Referral programs almost always serve only to feed the ponzi and provide reddjt incentive to posters to lie about the true nature of cloud mining reddit company.
Never trust anyone with a referral continue reading in their sig. Thats the ideal case for a ponzi and allows it to run for a long time. Application of these criteria to some cloudmining companies Feel free to post corrections or additions. I can not participate now in discussion - it is very occupied. I will return bitcoin mining 101 reddit I will necessarily express the opinion on this question. Categories Popular What is bitcoin meaning Best bitcoin mining video card lamborghini Bitcoin mining youtube com qualcomm Free mining online xxxv Bitcoin mining pool website create News Bitcoin mixing service station Cheap bitcoin mining rig direct.
Bitcoin mining website script I can prove it. Write to me in PM, we will talk. It very much was useful to me. Write to me in PM, we will discuss.
Then the next opportunity will be exploited, rinse and repeat. 27) Buy Sell Bitcoins Bitcoin Chart on Bitcoin. Users can use any and as many of the supported exchanges as they want.