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sourc3code

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Everything posted by sourc3code

  1. Sorry to reply back to you so late, I haven't been able to access the forums for some reason until now =/ Yeah, I guess I should retract my strong point of view on Hashflare being a "scam" per se, since I don't have concrete evidence that they are indeed doing so. However, based on their model, in my personal opinion I do think that it is a form of a "ponzi scheme" where they are accepting more purchases of hashrate then they actually have to offer. I find it very hard to believe that they have ample amounts of idle hashing power ready to sell on demand, but I could be wrong. I have no doubts that they are mining BTC, else their business model would have toppled years ago, however I DO have doubts that they have a 1:1 ratio of hashing power to hashing power purchased. As long as there are new members joining, it would be very easy for them to, say only have 50-75% of the total purchased hashing power running and still be able to pay out. The problem would come along like now, when the margins are getting tighter due to difficulty and especially if they saw a significant decline in new hashrate purchases. I'm just speculating based on everything I've accumulated over the years on the company, so I'm definitely with you on not publicly calling them a straight up scam. In terms of their affiliate program, I wasn't aware that they treated affiliates so horribly =/ I guess they just assume that since they don't have much competition, they don't necessarily need the affiliate traffic which if they are thinking this way is completely incorrect. Based on what you've told me about their affiliate system, it sounds like they're being lazy with their programming for their affiliate program which is causing such issues which in any case is not a good sign of the company as a whole. I don't see how people can fork over thousands of dollars to such a company that can't even get such things taken care of despite it being very well known to them that such issues exist. Also, very interesting take on cloud mining. I really haven't given much thought to cloud mining recently due to all the scams that have emerged, but I do like where your head is at on it. Can you explain a bit more on the whole portable trucks with wifi? Did you mean the companies offering cloud mining that are doing such things? I've been mining with hardware for the past 3 years or so, and I guess the reason why I've always been more keen to rig mining over cloud mining is mainly due to 2 variables: 1) You own your equipment, which you can sell later on to recoup more of your funds, and 2) Not having to pay any extra fees on top to mine aside from any mining pool fees, which equates to more daily mining profits. Like with cloud mining, if difficulty increases significantly 2 months into a 1 year contract, then you'll most likely never reach ROI. If the same thing happened with rig mining though, you could always sell your hardware which could very well put you into profits rather than losses. You would also have the option of continuing to mine on a day to day basis and have a choice of when you want to stop mining and sell your hardware off. I guess the biggest thing that's kept me away from cloud mining in the past is the fact that every time I crunch the numbers of any contract I've come across, the potential profits are so small (unless the altcoin increases significantly in price later) that it seemed all to easy for you to have losses due to difficulty increases rather than making anything in the end. I may be wrong since I haven't really looked into cloud mining recently as I run my own rigs, and I'd love to hear more on your take/experiences on cloud mining especially given your enthusiasm on the subject =) Either way, thanks for providing all the insight on Hashflare that you have here and laying out what you've found about the company recently. It may very well help an individual from losing money, whether it be a few dollars or thousands. Again, I'd love to hear more about your experiences with cloud mining in general as I'm an avid miner myself and I'm always looking into new areas to generate more revenue. I would love for you to dispel my current thoughts on it as I'm not ever biased one way or the other. In the end, its all about profits to me when it comes to mining, regardless of the mining method =)
  2. This is true, since if everyone stopped mining alltogether then it wouldn't be possible for anyone to send transactions. Transactions rely on blocks to be found, hence the reason why there are transaction fees as incentives for the miners and also why transactions sent with little to no fees have a chance of being rejected. So yes, you are correct =)
  3. Depends. In reality, the only reason why people would stop mining would be if there wasn't any demand for it anymore. In such a case, it would mean BTC is worth almost nothing. However, if demand was still there and people stopped mining (which would never happen), then it would cause BTC to increase in price significantly since there would be a finite amount of BTC available to everyone. The only time this would be the case would be if/when all BTC has been mined, which shouldn't be for hundreds of years. It all comes back to supply/demand.
  4. Lol I know right - Can't believe someone was actually able to get away with that much from such a big company. I will say though, the bigger a company gets, usually the easier it is to find exploits as its so difficult for them to be able to bulletproof all portions of their services. I guess whoever hacked Coindash can now retire, even with the portion of funds they kept!
  5. To my knowledge, Hashflare has always been a scam, just a working one (at least up until now). I have no idea why people insist on investing on cloud mining...if you don't have the funds to mine with your own hardware, then use something like Nicehash or Miningrigrentals where you're actually renting REAL equipment from private parties. The business concept of such companies are actually sustainable since the price to rent is set by individual miners, and the company makes money from a % fee. IMO it just isn't feasible for a single company to continuously add enough equipment to their infrastructure in a timely manner to fulfill as many purchases as there have been with Hashflare. More than likely, they have significantly less overall hashing power than they've actually sold, and they just pay people out using the funds they continue to receive from new customers. AKA a Ponzi Scheme. I definitely wouldn't be investing any funds into Hashflare, or any cloud mining company for that matter. It just doesn't make sense to me how it could be profitable without significant risk to the company or to the end-user. At least if you purchase your own hardware you can sell it when difficulty goes up. And with Nicehash/Miningrigrentals, you can rent by the hour so you can easily stop mining to reduce losses should there be a significant difficulty increase in a short period of time. Just my 0.02 cents on the matter. EDIT: Another thing I want to add, I've never been able to find photos of Hashflares supposed mining operations that coincide with the amount of hashing power they've sold. The only photos I've found are here, which is nothing but a few closed racks and power generators... https://hashflare.io/data-center/ There could be anything in those racks, or nothing at all. I know that if I was running such an operation legitimately, I'd be wanting to show off photos of the datacenters and hardware given how impressive it would be. They can't even show a single rack showing that they at least have SOME hardware? It just all doesn't make sense to me...transparency is a MUST for such operations, something they've never been able to provide. Which usually means they are overpromising. Eventually, the tipping point will come and it will all come crashing down. Keep this in mind before you invest anything with Hashflare or any cloud mining platform.
  6. Yeah, true. I doubt it would stop anything either, I guess I'm just speculating what the hacker may have been thinking. It very well could be fake news, given how outlandish it is for a HACKER to return funds lol.
  7. The hacker probably didn't want the extra heat, so decided to try and return at least a portion of it back to get the investigation closed quicker. Given how much the total amount was, I'm sure there were multiple law enforcement agencies involved with this. I guess time will only tell whether the hacker will be found or not.
  8. Are you talking about a BTC -> ALT exchanger or an exchange where you can purchase BTC for fiat? Sorry, maybe I just misunderstood you.
  9. I'd be somewhat interested, only thing is I would never do business with a member on here for that much, let alone someone who is brand new to the site. Hope you don't take offense as I think this is quite reasonable given that we have documented cases of loans defaulting for even as small as 0.002BTC. Where are you located? I may be able to meet with you in person if you're in the same country as me. PM me.
  10. Lol, tell me about it @CntryBoy - Hopefully these up-posts will get more people to sign up. I even informed everyone in chat, and still no more people registering. I say if people dont register soon, the ones who have should receive the rest of the amount evenly. Just my opinion lol.
  11. Personally I think it will go back up in price as people start forgetting about the SegWit2x hard fork. I think a lot of people ended up selling thinking the worst was coming right after the cancellation of the HF, but things are slowly starting to stabilize again. Very slowly, but I think we'll start to see it go back up here shortly. It went down as far as $5900 yesterday, but its been hovering around 6350-6500 today. I guess time will tell! IMO, you should hold onto your BTC though at least for a few months.
  12. Goodness, seems like its getting harder and harder to even give away free coins these days lol. Cmon everyone, all you gotta do is post your username and meet the requirements...There must be 40 people who can do this so we can all benefit from this giveaway!
  13. I tend to do this all the time, I'll stop for a while and start again when I feel comfortable again. Personally, I think constantly gambling over and over again is just asking for you to bust and lose all your money. This goes for any type of gambling, as every type of gambling has a house edge attached to it. If you want to win, try larger bets with less amount of bets. The less the number of bets, the better.
  14. I definitely think that the VIP system needs to be reworked as the majority of them received it when BTC was still in the hundreds of dollars rather than the thousands. Personally, I think that the VIP tag should be awarded based on either monthly or quarterly wager amounts rather than all time wager. The required wager amount to earn VIP should be set every interval based on a predetermined set dollar amount in relation to the price of BTC. Although overall it really doesn't matter since you don't receive anything special for obtaining a VIP badge, I do think that it can be misleading to others playing when they see this badge next to someone's username. I don't think players should receive a badge that is able to influence others based on what they wagered 2 years ago. I've wagered around 27BTC starting this year, and I can guarantee you that the actual dollar amount I've wagered is more than a decent amount of players who "proudly" wear their VIP badge. It definitely needs to be awarded based on recent wagers for it to actually be worth anything and not deceive others into thinking that the particular player is a high roller currently.
  15. I agree with you - I personally think that lending funds shouldn't be allowed to be used on PD, but the reality is that 99% of the people borrowing are going to use it for that. Which is ok (despite it being a stupid thing to do IMO), as long as the borrower can show some proof of when/where they will be receiving funds externally to pay the loan back like you said. Either way, something needs to be put in place to reduce the amount of scammers in lending. Also, it's worth noting that the VIP tag means nothing in regards to gauging whether you'll get paid back or not as I've seen many "VIPs" default on their loans. If anything, I always think of it as a negative count towards their credit worthiness. I mean cmon now, you're telling me that you've wagered 100+ BTC but you need a 0.005-0.01 loan bc you currently don't have that much?? Just doesn't add up. The VIP tag is a joke these days, as it seems that most who have the tag received it when Bitcoin was less than $300/BTC. I've wagered around 27BTC, most of it recent, and I bet you that the actual dollar amount I've wagered is over double the amount of most so-called VIPs. Just wanted to let everyone know about this since some tend to think that VIP = trustworthy/rich. This is hardly the case for the majority of the time. This may be true, but it still makes PD look bad to a certain extent when people visit the lending page and see that 80%+ of the threads are defaulted loans. Which is why I said that either something needs to be done to help reduce the high amount of defaulted loans, or just to remove the lending section altogether. It seems to be doing nothing but creating scams and victims of these scams.
  16. So it's pretty clear that the lending section has gotten out of control with the majority of the borrowers either paying late without notifying the lender or just not paying at all. With this being said, I think it would be ideal for PD to have more requirements before allowing users to even post a thread in the lending section. I propose that in order for someone to create a thread in that particular section, they need to have a minimum wager amount on their PD account (at least 10BTC), at least 10 likes/upvotes here on the forum, and an immediate ban of their playing account and IP with their funds confiscated should the amount borrowed not be returned on time. This way, the confiscated funds can either pay off a partial or the full amount of the funds borrowed. Should there be any leftover funds after paying back the individual, the rest of the BTC should be tipped to the chatbot for chat games. Personally I think having such requirements known to everyone here would decrease the amount of defaulted loans. There could even be a page prior to creating a thread stating all of these terms, where the user must click an "I agree" box before continuing posting. Of course if the user doesn't meet the requirements, then they should not be able to create a thread at all in the lending section. I think that users should be able to reply to any existing thread regardless of the requirements needed for creating a new thread. What does everyone think about something like this? I'd love to see the lending section cleaned up and for lenders to feel more safe about letting others borrow funds. Currently, it seems that the majority of borrowers are either late or not paying back their loans at all which obviously makes the lending section more hurtful than positive for the community. Something needs to either be done about this or the lending section just needs to be removed to prevent scamming. Just my 0.02 cents on the matter.
  17. If you're looking for a martingale calculator, I've got one that I've created that I can share with you - https://share.riseup.net/#_HIrlnW-Fk0hoAOwT_9l_Q Just change the appropriate fields and it will calculate everything from the percentage chance of each roll as well as potential profits =)
  18. I've already registered for this giveaway, but I'm just wondering when we should expect to receive the prizes for it. Didn't the 20 billionth bet occur a week or so ago? Also, who ended up winning the main prize?
  19. sourc3code

    My dog dead

    Sorry for your loss - I know exactly how that feels, especially when its been a dog thats lived with you for years. They become part of the family, and it becomes very difficult when they pass away. Anyhow, wish you the best and keep them in your memories so that they may live on =)
  20. Glad I could help out =) Be sure to check back often on the list as it seems that there are more BTG scam wallets being added to it. The Bitcoin Gold team really needs to get their stuff together and release an official wallet as well as a livenet blockchain. They should know that these two components are required before anything else can proceed in regards to BTG. They have apparently integrated 2-way replay protection the other day, but this is all for nothing if there isnt even a wallet or blockchain for people to actually make transactions and for miners to receive rewards for mining. They currently have a testnet set up for miners to test things out, but I highly doubt many will be switching their miners over just to test out the network for no reward. Again the BTG really needs to get their stuff together TBH, I personally think that this last BTG fork was nothing more than a way for a China-based company to work around the ICO ban. Pretty sad, as it seems that forks are increasingly fueled by nothing but greed through hype. The only fork that I believe could possibly help in some way is the upcoming SegWit2x hard fork. Even that though, could cause more harm than good depending on how BTC holders react to yet another coin being added to the extensive list (B2X will be the new coin "forged" once the November hard fork occurs). Just my 0.02 on the matter.
  21. Glad there are some that are finding this strategy interesting/useful - As @Kurian said, its all about controlling your greed, as well as following trends as I stated in the original post. Its highly unlikely that you'll receive multiple strings of long reds of greens in a row, so use this to your advantage.
  22. The point to purchase right now would be to essentially purchase at a low point and holding, hoping that the price goes up once it goes more public. Most believe that the price will increase once BTG goes "mainstream" and is available at more exchanges. Other than this, it would be pointless to purchase BTG if you were looking to spend it anywhere. Hope this helps.
  23. This could be possible - If coinomi has BTG integrated then I personally would trust it due to their reputation. However any independent BTG wallets currently are definitely scams. Be sure to check out the link I posted above to see known scams/unofficial sites posted by the Bitcoin Gold team.
  24. So I figured I'd post something about this for anyone interested in Bitcoin Gold - At the moment, all of the BTG wallets are confirmed SCAMS. This includes btcgwallet and btcgpu wallet - Do NOT download either one of these wallets to hold your BTG as again they are confirmed SCAMS! Before you download any wallets or trust any sites related to BTG, I would check out the following link posted by the official BTG team (compilation of known scam services/sites related to BTG): https://bitcoingold.org/not-official-websites/ Hope this helps someone out, and be very wary of what you download/visit related to Bitcoin Gold - especially in the beginning stages of the BTG fork.
  25. You can currently trade/purchase Bitcoin Gold at yobit.net. To my knowledge, this is one of the only exchanges/sites that is currently offering BTG. Speaking of which, the price seems to be going up at Yobit, which is a good thing for the overall BTG price in general. Its up 24% today so far - We'll see how far it goes up here in the near future. The real question is when are BTG wallets and a blockchain going to be released? Without these two essential tools, its a bit difficult to do anything with Bitcoin Gold at the moment. Also note that all of the wallets out currently are scams, so be careful what you download.
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