Hydrominer what a joke!!! I just get blocked in telegram from asking the truth!
So before my ranting, let me take you on a tour of what hydrominer is all about :
Hydrominer is just another so called "CLOUD MINING COMPANY" but with a greener method, cause it uses hydro power to mine compare to using other source of fuel. At this point, I just realised Malaysia is a heavy user of hydroelectric power too, why did this ICO attracted me at first haha. Silly me, carry on..
So as a miner, I'm sure you care about ROI more than anything. So allow me to explain how their ICO works. They require us to buy H2O token which is the assets used by hydrominer.org that symbolise our 2 year contract time and also the Kilowatthours we bought. So according to their website :
Sources : https://www.hydrominer.org/token-sale/
1 terahash of mining power, will give us an ROI of 634.21 USD in 2 years, with an initial investment of 165.25$, Do keep in mind, the difficulty is set to present! as of today 18/10/2017
Oh yeah did I mention they could charge a net proceeds from 20 - 40%!! Genesis mining at least with a fix rate of 0.0028$ per gigahash for bitcoin!
Let us compare with genesis mining, I'm using coinwarz.com as I found it to be a reliable and quite accurate to estimate ROI on bitcoin mining.
Genesis mining do charge a pool fee of 23.5%, 1 terahash of mining power, will give you a 330.08$ per year which makes 660.16$ in 2 years!!
Clearly, we are earning less while the hydrominer claimed in it's whitepaper :
Refer page 4 of its whitepaper, Sources : https://www.hydrominer.org/wp-content/uploads/HydroMiner.pdf
If you're making such claims, then our ROI(Return of Investment) should reasonably be higher than other sources like genesis mining, hashflare and etc. But no, you earn less for using a more greener solution. Greener my ass!
As puzzled and inquisitive as I am, I forwarded this questions to hydrominer telegram group. And guests what? I got blocked from asking the right question!!!
One of the guy in chat group noticed I was blocked and send out this messages :
If you think I'm making this up, try asking them yourself with the calculation I did. See if they will block you or not! Do spread the words about this shitty mining scam. Don't invest in its ICO! It's not profitable at all compare to cloud mining in general! They blocked me for obvious reason that they agree with my findings! Be a smart investor, invest due deligence!! Spread the word guys!!
I've done some intensive research on them and the deeper I dug, the fishier it got.. Unfortunately I didn't have the time to post about my finindings..Now they collected already some money with their ICO anyways :/
Well I even tried to post on their twitter reddit for everyone to see. Well I guess what can one person do anyway :( It's great that you get to the same conclusion as me! It really pissed me off when they blocked me urgh.. And by the way what you intend to post about? I can give some upvotes since you're new here. Starting is the hardest.
You are right, they might be just faking the green mining methods and are actually the same as genesis or any other cloud mining company. I mean there is no need for fake publicity, i guess they were trying to attract huge audience, but i guess it didnt turned out well.
Botty liked the post :]
Thanks botty :D Hmm why your name not booty xD You're so kind! I did confront them on twitter page too. No answer whatsoever too! What a damn scam. Investor out there be careful!
Great discovery and thanks for sharing it!
Best of luck with your Steemit adventures.
Yeah I even confronted them on twitter page. https://twitter.com/AndreasBTC/status/920581060341223424 No answer after that. They even tried to twist the fact. Pathetic
Upvoted and followed
Me too man. Upvoted and followed. :)
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Useful detective work!
Thanks! Just don't invest on this shit. Really. It's better to just stick to genesis mining. At least genesis has been running since february 2014, it's been 3 years. And running solid.