Cloudmining Ponzi Scheme

Today I will discuss l Cloudmining Ponzi Scheme!

But what is cloudmining?

Cloudmining enables user to mine bitcoins and other cryptocurrency without managing any hardware. Therefore you will also pay for the maintenance for the hardware you renting.

2 Cloudmining Methods

Hosting – platform where owner provides Hardware equipment to rent for cryptocurrency miners.

Virtual hosting – renting of area on the server with following installation of tenant’s software for cryptocoins mining.

2 Most Legit Cloudmining

1. Genesis Mining - founded on 2013 they offer bitcoin , ethereum and dash mining. Most of their mining contracts are out of stock so better watchout fo slots.

2. HashFlare - has a team of cryptomining experts from Hashcoins. They have a cheaper mining contract that starts at $1.80

But the real Problem is Cloudmining Ponzi Scheme.

1. Hashocean
2. Aurora Mining Limited

This 2 are example of Cloudmining Ponzi Scheme first they offer free hashrate for all the member who register to get their atttention. But if you think about it why would they give such free hashrate that it cost a functional machine mining equipment to operate. They do have also a referring program that every invites buy a hashrate you will also received a percentage and also they claim that your investment will return in 10 days many people falls for it because they want easy money but the thing is only the earliest member can earn before they shutdown the server.

In Aurora Mining Limited to make people believe that they are legit is that when they about to reach their Usable Power they will always increase it so people will think that Company is still on operation. But the thing is they want more people to invest on them.

So you better watchout from this ponzi scheme you dont want to promote this kind of scam to your friends right.

Ongoing Cloundmining Scams

1. HashPerium
   2)YouHash

Yes it is another Ponzi Scheme!