Estimated reading time: 6 minutes
In this review, we will be looking at Hash Mine, a website that claims to be very successful in running Bitcoin cloud mining operations. They are currently accepting deposits in Bitcoin only under 4 different plans. But when we try finding out who owns this company, we discover that their who.is information is fully protected. The owner of Hash Mine is very secretive. They are not transparent at all, which raises the question of their legitimacy.
On their website, they have published two physical address, one for their alleged location in London and another in Thailand.
The irony is that this company’s domain is registered in Panama as opposed to these two countries. There is a great possibility that Hash Mine does not hold any physical location in London or Thailand. These address were published on this site to give it a sense of prestige. The real Bitcoin dealers are hiding in Panama.
With that information alone, we don’t have to go very far to realize that this site can’t be trusted. Let’s take a look at the various aspects of Hash Mine to determine whether or not we can approach it with some exceptions.
Note: Check out our list of legitimate Bitcoin mining companies here.
For those who are skeptic, this company has even provided a map to show their alleged London location. In that map, they show us that they are located next to River Thames.
More research followed to try establishing the truth. We discovered that no business in the name of Hash Mine was situated in this area. Yes, there are many London businesses which operate in that specific physical location. But Hash Mine is not one of them.
This website also claims that they are a registered company. They actually list it down as one reason why you should do give them your Bitcoin.
It’s funny to even try imagining that these people are using the name of their company status to prove their credibility. How many companies have conned folks through Bitcoin mining? All the companies you see on the internet which disappear with investors’ money are registered. Their details can even be confirmed at the Companies House website. But this does not stop them from fleecing individuals if their real motives is to steal coins.
Hash Mine also claims that you should invest with them because your principle balance is insured. Well, we have never heard such a thing before. It is totally news to us.
When you think about it critically, you will realize that there are no guarantees of making a profit in Bitcoin mining, and thus you cannot say that you will be insuring deposits.
Unless they are ready to incur the cost of paying member deposits or even profits from their own pockets, we do not see how this can be possible in the real economic setting.
And of course the site is highly protected against DDOS attacks and other security loopholes. But the way we see it is quite different. Your Bitcoins are only protected from hackers and malicious internet citizens. Your Bitcoin is still not in safe hands given that the owner of this site is anonymous.
This brings us to the topic of their identity. You are literally expected to fund a Bitcoin wallet belonging to a stranger on the internet. They killed transparency the moment they opted to purchase Who.is privacy protection. No one can believe you if you set up a site that solicits Bitcoins from members of the public. You should be having an intent that is different from what you’re projecting on the site. That is the main reason why we disqualified Hash Mine website.
When you look at the 4 plans offered by this site, you might think that the person who crafted them was a retard. You see, the minimum return on investment for the basic plan is 20% a day.
But we have realized that in Bitcoin mining, a lot of variables come into play. You cannot put a specific sum as the average return on investments to be expected after 24 hours. That’s completely false.
We do not know where these figures come from. We don’t really understand how they do their math to come up with these profit projections especially when it comes to Bitcoin mining.
The fact of the matter is that 20% profit per day isn’t a guarantee. And secondly, that profit is a little bit on the higher side. You cannot expect to earn this amount on a consistent basis. Unless these guys are alleging to have some special secret that no one else has, we don’t see how they will be able to make this amount of money for you on a daily basis.
The second, third and even forth plans are nonsensical as well. But what strike us most is the forth plan, which is promising 100% return on investment in a very short duration.
How exactly are they mining Bitcoin? Why is their profit potential higher than everyone else in the industry? Well, it’s because Hash Mine is probably run by con artists. You and me know very well that it is impossible to achieve these returns in a short time.
But they are making those ridiculous promises anyway, which proves to us that Hash Mine is a scam.
With the cost of mining Bitcoin proving to be high and unpredictable, you cannot quote nonsensical figures as expected return on investment. It would translate to lying in broad daylight. What we do not want to hear is that people are losing money to these scams.
It’s ridiculous to see that customers of Hash Mine are writing testimonials on this site but not anywhere else. We do not want to believe that these are legitimate sentiments of their users because that would lead us into the wrong path.
First of all, if these reviews and testimonials are legitimate, why can’t we have these users commenting or giving their opinions elsewhere?
We have resolved to believe that if these reviews were not edited by the owner of the site, then probably they paid someone to do it for them. We are looking forward to the day when real testimonials shall be published elsewhere concerning that site. If that day comes, we will probably re-write this review.
We could not avoid laughter when we clicked a page that led us to a list of alleged Bitcoin payouts. We just have a list of various Bitcoin addresses. It is impossible to tell whether these Bitcoin wallet addresses are real or fake.
Therefore, this page called ”Payment proof” is just a showcase of credibility. With no proof of payment to help us verify whether or not payouts were made, we have resolved to conclude that this list is fake.
A lot has been said about Hash Mine website. We already suspect that the owner is up to no good. You pay him in Bitcoin and the next thing you realize is your account getting suspended for ”breaking their terms and conditions”. If that isn’t the case, then something else will happen, which will cause you to lose your coins in the process. If it’s too good to be true, don’t trust it.
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