Sorry to crush your dreams, but this is most likely a Ponzi scheme. The fact that you were actually paid has nothing to do with this. This is how Ponzi schemes work. You were paid from the money other people invested and they will get paid from other peoples' investments. That's why they need to be constantly bringing in new investors. Yes, you might make some money, but get too greedy and you'll loose big time.
Also, I've had a look at their FAQ section and seeing how they GUARANTEE you that you'll keep your hashpower for lifetime (meaning they GUARANTEE you a constant payout) this is almost 100% a Ponzi scheme.
And my last point; 100 KH/s is a comically low value for Bitcoin mining. If you did your research (i.e. do a quick Google search) you would see that with 100 KH/s, even with NO electricity costs, you would be making around $0.00000295 per MONTH! And they're promising you $1.20 per day?! There is no way these guys are legit.
I hope you see this before you loose your money! Seriously, what's too good to be true, probably is.
You are 100% correct. Hence why I only put in $11.99, and won't put another $11.99 in until I've made at least $48 in profit, so that I've doubled my money. Then I'll wait til I've made $96 to invest another $24, etc (for a total of $48 invested). See where I am going with this?
I see where you're going with it, but I still have two complaints about it.
In your post, you stated this was NOT a hoax, but judging from your reply you either knew this, but still decided it was a good idea to claim it was NOT a hoax / Ponzi scheme (to profit from referrals) or you believed it yourself and you made up this "plan" to "cheat the system" now that I've pointed it out. Either way, it's a bad idea.
You could make the same (or greater) amount of money if you invested your time into something else i.e. something real. There are plenty of ways to make money in the crypto-world, many of them even more profitable. And by participating in this Ponzi scheme you're just allowing it to live longer, which in turn will cause more unknowing people to loose their money once the operation finally collapses.
Seriously, don't play with fire. You'll get burnt sooner or later.
yeah, it's bizarre but I've taken 4 payouts that if extrapolated out over a year, equal what they say. Who knows...like the first commenter said--- it could be a Ponzi scheme...but I'm getting in early lol so hopefully it lasts at least a year or two before it collapses. ;)
Nice! I saw that you joined couple months back so I thought I'd send my late regards. This post was nice so I upvoted it and bring on the next one!
I am struggeling, like you, to get those first upvotes on my posts so my advice would be to give Steemfollower a go as you can earn up to 5x more steem than just upvoting by yourself! It's a simple and safe vote exchange that is free to use. I made this post to explain the system in more depth and it has become my most upvoted post yet.
Sorry to crush your dreams, but this is most likely a Ponzi scheme. The fact that you were actually paid has nothing to do with this. This is how Ponzi schemes work. You were paid from the money other people invested and they will get paid from other peoples' investments. That's why they need to be constantly bringing in new investors. Yes, you might make some money, but get too greedy and you'll loose big time.
Also, I've had a look at their FAQ section and seeing how they GUARANTEE you that you'll keep your hashpower for lifetime (meaning they GUARANTEE you a constant payout) this is almost 100% a Ponzi scheme.
And my last point; 100 KH/s is a comically low value for Bitcoin mining. If you did your research (i.e. do a quick Google search) you would see that with 100 KH/s, even with NO electricity costs, you would be making around $0.00000295 per MONTH! And they're promising you $1.20 per day?! There is no way these guys are legit.
I hope you see this before you loose your money! Seriously, what's too good to be true, probably is.
You are 100% correct. Hence why I only put in $11.99, and won't put another $11.99 in until I've made at least $48 in profit, so that I've doubled my money. Then I'll wait til I've made $96 to invest another $24, etc (for a total of $48 invested). See where I am going with this?
I see where you're going with it, but I still have two complaints about it.
Seriously, don't play with fire. You'll get burnt sooner or later.
I am skeptical but I will give it a try with a smaller investment. Thanks for letting us know about this @westillbelieve
See my reply to tadejgasparovic---I think if you use that strategy, you can't go wrong.
Agreed. Will invest a predetermined chunk of the profits I will (hopefully) receive.
I just find it so hard to believe. Their calculator says if I invest $1144, I'll make over $40,000 per year..
yeah, it's bizarre but I've taken 4 payouts that if extrapolated out over a year, equal what they say. Who knows...like the first commenter said--- it could be a Ponzi scheme...but I'm getting in early lol so hopefully it lasts at least a year or two before it collapses. ;)
Nice! I saw that you joined couple months back so I thought I'd send my late regards. This post was nice so I upvoted it and bring on the next one!
I am struggeling, like you, to get those first upvotes on my posts so my advice would be to give Steemfollower a go as you can earn up to 5x more steem than just upvoting by yourself! It's a simple and safe vote exchange that is free to use. I made this post to explain the system in more depth and it has become my most upvoted post yet.