You are right, lots of cloud mining sites advertise ridiculous rates, get customers, make some payments then disappear.We made several accounts on different websites, but only one came close by support and feature count…Our favorite is Genesis Mining, we wrote a review here: Is Genesis Mining the Best Cloud Mining?Not all Cloud Mining companies are fraud.I am earning very well with one of the companies named GainBitCoin.pany has unique contract based structure giving 180% returns.Let me give you an example.Suppose I am investing 1 bitcoin in 18 month contract, company pays 10% each month which constitutes 1.8 BTC (bitcoins) in this period.Unlike other ponzy schemes gainbitcoin MLM is Not Mandatory.Simple reinvestment of returns may earn you lifetime passive income.This whatsapp group has been created for more details: BitCoin Mining SchoolOr you can directly ping me or call me @ (+91) 7276547983RishiFounder / DirectorCredence SkillWorksCloud mining is an idea that structurally implies a scam.

Think about it: If you had mining hardware running, and it would earn you money, why would you rent it out to strangers on the internet?I just shut down my little bitcoin farm (self.Bitcoin)submitted by I just turn off 8 antminers s7 because I'm afraid.Miners are getting jailed and accused of terrorism, money laundering, computer crimes and many other crimes.It's getting crazy here and I really don't want to waste my life for money.Now I have 8 miners (and a huge debt) that I don't know what I can do with them.Can't even sold them because I could go to jail for that too.(Recently 2 persons were found selling a btc miner and were sent to jail).EDIT: Forgot to add.π Rendered by PID 13735 on app-162 at 2017-06-24 12:02:29.785069+00:00 running 3522178 country code: SG.Alphaville is completely free.All you have to do is register.Ready to subscribe, View our subscription optionsAfter falling for the latest bitcoin scam out there I am compelled to write about the number of bitcoin scams going on out there and the scammers behind them.

 selling sponsored posts  on the site with bitcoins.The individual asked for .40 worth of bitcoins for the sponsored post but I was able to convince him to accept .02 bitcoins.See a copy of the first bitcoin scam email I received below.bitcoin price alarm androidHere’s first problem I failed to spot.litecoin price euroTake a look at the email address the bitcoin scam was sent from.steam bitcoin miner and is listed on the site as so.ethereum truthDavid Parker is legit.bitcoin is making me greedyHowever, what is not legit is this David Parker from this email address.bitcoin billionaire save game

Can you spot the difference?But when the bitcoin scam email is sent, the correct website is listed in the body of the email with the fraudulent email address!RELATED: Roger Ver aka Bitcoin Jesus vs Hacker Nitrous – See What Happens Next!what is a good hashrate for bitcoin miningA few hours later after negotiating a lower rate for the sponsored post, I sent .20 bitcoins to the scam bitcoin address 1NzpPpSKJyFbpUruMkxF8FVm6huoUwhrLc.buy litecoin by credit cardLittle did I know this bitcoin address was the address that would disappear with my bitcoins to the ‘never recover’ land.ethereum address exampleForward to 9 days later. and contacted everyone listed on their contact page with a disappointing message.It was then that I was sent a post written weeks ago about the bitcoin scam artist falsely representing the real David Parker.

I read the post and learned that I was not the only one to fall victim to that particular bitcoin scam.The same type of scam seems to be running around Coindesk as well.Someone pretending to be Shakil Khan (Coindesk’s owner) is sending emails regarding fake advertising spots.As a results, I decided to tell my story and create a list of bitcoin scams and scammers to help the bitcoin community identify and neutralize them!Please fell free to add to this list (on the comment page and we will move them to the list) any known bitcoin scam artist or bitcoin scams! with ‘s’ on coin(s)) ( with an ‘s’) Scam Bitcoin Address: 1NzpPpSKJyFbpUruMkxF8FVm6huoUwhrLc About Latest Posts Latest posts by Jonas Chokun (see all) Bitcoin Investment 2016: Is It Worth It?Bitcoin Founder, Satoshi Nakamoto Net Worth Reaches $700 Millions!Caricoin Brings Bitcoin To The CaribbeanAs consumers' adoption of bitcoin continues to increase and a number of major retailers have decided to accept the virtual currency, alarming cases of fraud with bitcoins continue to emerge.

Because bitcoin transactions are irreversible and not overseen by a central authority or bank, bitcoins are a popular vehicle for fraud and theft.Bitcoin scams are often initially promoted in online forums or chat rooms, with promoters creating an elaborate front to convince investors they are legitimate.The following are five of the most common scams involving bitcoin: 1.Bitcoin Ponzi Schemes and High-Yield Investment Programs.These scams lure people in with promises of high interest rates on deposits.As with other Ponzi schemes, early investors are paid out using investments from later investors.When new investors stop joining and payments cannot be made, the scheme collapses.These scams last often only a couple of months, but the organizers are prone to simply repeat the whole process again afterwards.Bitcoin Mining Investment Scams.Bitcoin mining involves validating transactions and providing security for the public ledger, known as the blockchain.This process requires extremely powerful and expensive computer equipment.

The mining scams typically involve orders for equipment that are paid for in advance and never delivered.(For an in-depth review of mining, see: What is Bitcoin Mining?)A bitcoin wallet is a software program used to store bitcoins.Wallet scams attract users with the assurance of greater transaction anonymity.Once the deposit level rises above a certain level, the scammers simply move the bitcoins into their own wallet.These exchanges attract users by offering credit card processing at more competitive rate than their competitors.The fraudulent bitcoin exchanges simply do not return bitcoin or cash after receiving payment.Phishing scams can involve emails informing people that they have been awarded or given bitcoins.They are told that they need to log into their bitcoin wallets through a link in the email that unbeknownst to them gives the phishers complete control the account.It is advisable to thoroughly investigate the background of the bitcoin-related company you are thinking of transacting with and look for transparency in their dealings.