Cryptocurrency - I learned it the hard way...

in #cryptocurrency8 years ago (edited)

I was introduced in the world of Cryptocurrency sometime in September of this year.Me and my friend @carloacorda was enticed by our officemates to invest in Bitcoin. I was hesitant at first because I don't even know what is Bitcoin or BTC.
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So I studied about bitcoin and learned of its history (thanks to internet and google) especially how it rose from 0 to big value now. At that time, 1BTC is equivalent to around 4k to 5k USD which is a huge amount of money(currently is close to USD10k).
A friend informed us to invest in a Cloud Mining Site that offers free BTC by mining. This is where we met Aurora Mine.
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So you see, if you register to this Cloud Mining Site, you will receive Free 100H/s Power in your account.Any minute you will see your BTC starting to grow.
You can check your earnings by clicking on the Dashboard.
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Now, if you wants to earn more you need to invest by purchasing a Power.

  • Minumum investment is $5 that will add 500H/s power plus 10% profit for LIFETIME.
    In 10 days time you will earn the amount of your investment already.
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    I registered to Coins.ph so I can deposit money to Aurora Mine.
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At first, I invested $6 as a starter and also to validate if this is for real. After 10 days, I was able to earn the same amount of what I initially deposited and withdraw it right away (you can only withdraw if you invest even at least the minimum amount).
Now since I was able to validate that it will really pays its customer, I re-invested my money back and deposited it on the same day. I can see that my hashpower increases everytime I invest money. Almost everyday, I'm investing at least $20 in the next 5 to 7 days so I can buy more Hashpower and earn more. My Idea is that I will withdraw my BTC after 30 days, by that time it will triple my bitcoin.

Then by the 1st week of November, I read some feedback in my FB account of some issues to Aurora Mine where you can no longer withdraw money. I logged in to my account and can see tha my BTC continues to grow.
I decided to withdraw my btc that time amounting to $40. Initially when you withdraw your money, it will only take about a minute to 1 hour, so I've waited and waited until the next day but i still didnt get my money. I alarm @carloacorda of the situation since both if us invests lots of money now and we were both getting the same issue.
Until that day where I'm still waiting for my withdrawal and saw my btc continuous to grow.. In the afternoon of that same day, the moment of truth reveals it self, the site is no longer acessible.

I was scammed, we were scammed...
Aurora Mine obviously is a Ponzi scam, where returns are initially paid out from new deposits. And when there is not enough new deposits, the system collapses. There is no real mining going on, it’s just an illegal financial game.
I've learned the hardway, a too good to be true mining site.

Today, I'm still learning a lot in the world of cryptocurrency and learn even more when I join Steemit. I will rest my case for now while I study almost all article in relation to cryptocurrency.

Thank you for your time reading my story... Dont forget to follow, upvote and resteem..

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I also signed up in Aurora Mine, I was hesitant to invest. So I just waited... few days after I signed up the site was no longer available. Good thing I didn't invest money.

When I signed up in Aurora Mine, I asked a friend if he knows about it. He told me to sign up here in Steemit instead. That's why I'm here now. Hehe. Hopefully, Steemit will be around (if not forever) for many many years. Hehe.

Thats true.. I was scammed, good for you somebody told you about steemit early... At least were in good hands now... I knew this will stay longer.. Lets cross fingers and help this.community grow..

I envy you coz your earning a lot now, while i'm just starting and still learning lots here. hope you help me grow too.. many thanks..

if it's too good to be true... it probably is

there is no such thing as cloud mining.

Thats right... First time I heard about bitcoin and i was scammed..

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