Estimated reading time: 6 minutes
If you’ve come across Pool.bitcoin.com, chances are that you are wondering whether it is a scam or a serious website. If you’re that kind of investor, then this review will serve as a good reference which will go a long way into helping you make an informed investment decision.
The site Pool Bitcoin is currently being discussed on sites like Reddit since it’s a popular site promising to mine Bitcoin on behalf of investors who want to make money by way of Crypto currency mining.
Most of the people who talk about it don’t seem to have tested it yet. They are all inquiring from other members to see if those people have invested in Pool Bitcoin and whether or not they are happy with their experience.
Well, you should know that most of these reviews/testimonials/feedback are based on personal opinion and statistics too. Your experience might be a little bit different with Pool Bitcoin website.
So we thought it was worth reviewing in this post. Anything you would like to know about Pool Bitcoin has been covered below. Make your own decision afterwards. But if you still feel confused after reading this review, we are advising you to check out our list of recommended Bitcoin mining companies. You can get started from there.
Some people say that Pool Bitcoin is a good place to invest your coins at. Others say that it doesn’t measure up to the most popular mining companies on the web.
These are mixed reviews and opinion. Surprising, none of these people appear to have used the service. We are under the impression that they are issuing their sentiments based on the experience of other supposed users of the platform.
For us here, we will try and write this review from an objective standpoint. We will just go with the facts and analyze each statement critically to see whether or not there is some sense in investing on Pool Bitcoin.
According to Pool Bitcoin, people will always make money with them as long as the business is profitable. It is not clear whether or not they are referring to expiry of mining contracts.
It’s also important to note that Pool Bitcoin is a branch of Bitcoin.com, a domain that has been around for quite some time now.
When you look at the site, the appearance suggests that indeed it’s a serious website with a potential to mine Bitcoin. But then, you realize that nothing is guaranteed with Bitcoin mining.
Just like any other form of investment, whether in the real or virtual world, you should expect anything to happen. And if you’re not prepared to lose your money to any form of investment, then don’t invest it. Keep it in your pocket and it will be safe. You might decide to put it in a savings account where it will earn peanut interest at the end of the year.
Again, we are not recommending this at all. You’d rather risk your money but on a genuine Bitcoin mining site that does legitimate business.
According to Pool Bitcoin website, manpower and skill isn’t one of their problems because they have experienced programmers, engineers, and economists on board who run all matters related to Pool Bitcoin.
Among the people who were introduced include Emil Oldenburg (the CTO), Andrea Suisani, and Andrew Stone (Bitcoin Unlimited developer).
These people have their photos on the site, which can easily help us verify whether or not they are accurately represented in those photos.
But that is not the goal of this review. After all, we only want to see whether or not Pool Bitcoin will produce the promised return on investment even if it’s not on a daily basis.
One thing we are seeing with Pool Bitcoin is that they want to expand their mining pool by soliciting more funds from members of the public in order to continue expanding their pool.
While it looks like a privilege to purchase hashpower from them, we strongly believe that things might not go as planned many people fail to show interest in participating in their mining pool.
So yes, Pool Bitcoin is offering cloud mining activities. But then, income generated from mining Bitcoin is dependent on so many factors. Among them is the mining difficulty of Bitcoin. If it keeps rising, then it can only mean that profits will be modest. On the other hand, if the equipment being used here is efficient and up to date, then it means more coins will be mined and payouts issued to various stakeholders.
According to Pool Bitcoin, you will earn 105% of the block reward. The site charges zero fees for transactions related to mining. We are not so sure how this is possible with the ever increasing cost of mining Bitcoin, both at home and in the cloud.
Pool Bitcoin also claims that they have an extremely high share acceptance rate compared to many other sites in this niche.
Also, Pool Bitcoin claims that their site has the most competitive hash power contracts available on the web. That’s a subjective matter. Your opinion is only valid according to how you see it.
There are two contracts offered by this site. There’s the 12 month contract and the lifetime contract. With the 12 month contract, you will be offered the option of purchasing hashpower at $299 per TH/s. You can select the amount of hashpower accordingly.
The other option (lifetime plan) sells hashpower in TH/s for $399. This plan too lets you choose the amount of hashpower to buy. This lifetime contract is supposed to remain profitable until it expires or until profits cannot be generated anymore.
The current daily return for the first plan is $10 (which is reasonable enough). The second plan promises the same amount as daily return on investment.
We think these amounts do vary according to the factors that are affecting mining difficulty of Bitcoin. So investors should expect daily fluctuations of profits as stated on the site.
Again, we are not so sure how this company is planning to stay in business for the longest term possible if it doesn’t charge fees.
It has come to our attention that this site used to charge fees some time ago. This is no longer the case. It makes us wonder whether this can be sustained in the long run.
This site claims to have outsourced data mining centers across North America. The company actually shows us a few pictures of their mining centers. The authenticity of these pictures cannot be confirmed though.
Overall, the site looks very professional. When you look at it, there isn’t any doubt that this company isn’t serious with what they are doing.
But you also have to remember that no matter how professional a site may look like, it does not rule out the possibility of losing money in the process. Unless you’ve tried it and saw that it is paying, there is no way to tell whether or not you will lose your money.
It is much easier and safer to recommend sites that we have used as opposed to those that we haven’t. So for now, you might want to avoid Pool Bitcoin until further notice.
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