Bitcoin Blog a1

Monday, July 4, 2016

Not that kind of hash


A few weeks ago I saw an ad on freebitco.in for another ponzi scheme/ bitcoin multiplier, this one was called cryptotriplex. I wondered to myself, does anyone fall for these still? So I clicked it.

And that is what I saw. It looks like they ran off with everyone money.

This isn't uncommon. It also happened recently with a website called hash ocean. Immediately after reading the name, I thought of hash profit and thought it must be a similar scam. I was interested enough to study it for a bit. I attempted to go to the site but the website didn't load; it was offline. It looks like essentially the same scam happened again, just with a slightly different name. I thought it was interesting that the site did advertise an actual physical location in San Francisco. However now that I think about it, San Francisco isn't an ideal place for a bitcoin mine.  Everything is way to expensive particularly space. It is funny, I visited the city just a day before reading about this, maybe I could have gone to the abandoned location if I knew.  Anyways, I would say don't trust any cloud miners without a lot of due diligence, and may not even then. But I would especially avoid anything with hash in the name. Based on the smells in San Fran, there is a lot of it there. And it almost goes without saying, stay away from money multipliers.

3 comments:

  1. These are not the exchangers you're looking for...(Jedi mind trick) At least not the ones you should give your money to (Parable of the talents). #Matthew #moneymultipliers
    What if there was investment banks for bit coin? 8% return annually 12% on market is more like 8% if over 40 yrs...

    ReplyDelete
    Replies
    1. Thanks for the comment! So there is something that does some of the roles of a commercial and investment bank. Its called btcpop https://btcpop.co/. Its all peer-to-peer though, so its not like a true bank. They do offer IPOs, kind of like how a major investment bank does. Its worth checking out, they offer a 5% savings deposit. I also talk about it here: http://btcplus.blogspot.com/2016/04/bitcoin-banking.html

      Delete
  2. Are you exhausted from looking for bitcoin faucets?
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    ReplyDelete