There are several websites purporting to offer cloud mining but nearly all of them are fake. A good example is the Hash512 website which claims to sell cloud mining services to those who want to mine Bitcoin. They claim to have smooth CPU miner which can work on most computers and laptops without a problem provided it is using 10-20% of your CPU power to generate Bitcoin. This kind of thing is known to shorten the lifespan of PCs and you must never agree to share your CPU resources with a site that claims to generate Bitcoins for you if you do so.
Some of the feature highlights on the Hash512 website include premium cloud mining, easy an fully managed, hourly profits and live stats on an investor’s personal dashboard. They also claim to run a faucet that offers free Bitcoins to their users in a fair and transparent way. When users sign up, they are also promised 0.1 TH/s of free hash power and the question is whether this hash power is sufficient enough to test the so called premium Bitcoin mining service.
So the main message that Hash512 wants to pass across is that they are a quality Bitcoin Mining service. But before you can get convinced, do you know how a quality Bitcoin mining platform looks like? We should perhaps start by describing what a genuine Bitcoin mining sites looks like or what characteristics a site that truly mines Crypto currencies has.
Sites like the ones listed here can prove that they have invested in real Crypto currency mining resources. They also have operators who are not fearful of disclosing their identities and roles in the company. Lastly, users in the Bitcoin mining forums have confessed many times before that these sites returned a profit as agreed in the contract. Finally, those sites never advertise that you can mine Crypto currencies with them for free.
When we look at these characteristics, we find a sharp disparity when compared to what Hash512 promises and we are now believing that this platform is out for some mischief. Before you are persuaded to invest some funds into this platform, you should find out whether or not Hash512 is a reliable investment platform. You need to know the following:
Hash512 does not disclose any identifying information on their site. They don’t even talk about the company which is responsible for running the activities of their site. The site also lacks some useful pages like terms and conditions, FAQ, disclaimer and so on. This basically means that anyone doing business with this site is not bound by any rules and Hash512 is most likely to do anything with their funds without feeling the responsibility of treating the clients professionally.
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The anonymity that surrounds this operation is disturbing and is an indication that the site operators are up to no good. It should be treated as a red flag.
There is nothing like free Bitcoin and all faucets are run by scammers. This site claims to provide a faucet that will reward users with free Bitcoin every 10 minutes. This faucet also requires users to refer others in order to earn 40% in referral commissions. What this simply means is that Hash512 is playing with the psychology of its victims. There is nothing like free Bitcoin and faucet. If it was possible, the owner of this website would be busy making riches without involving the whole internet. The reason why they need your input is because this thing is fake.
Hash512 does not provide a payment ledger to help us verify that the proclaimed hourly payouts are real. If you come across a doggy site like this one, the first concern that should be on your mind is whether there is payment proof or some sort of proof that members are generating an income. As far as this is concerned, the site does not provide any form of payment evidence, and so their claims of releasing hourly payouts is just ridiculous and unrealistic. It cannot be believed except by naive investors who don’t ask the hard questions before investing in a service like this.
They have stated on their website that they are using resources of their members PC in order to generate Bitcoin and distribute it fairly. When you turn your PC into a community mining rig, you are basically saying that you no longer need the PC again. It shortens its lifespan plus it will slow down your PC at times therefore making it impossible to work with.
Generally, we are against the idea of letting a site use your PC resources for purposes of mining Bitcoins. If you are into mining of Crypto currencies, there are sites that have invested in resources and facilities that are specifically meant for this type of work. They don’t use their members PC. You should make use of those sites.
With a site that has invested in a mining facility, it is guaranteed that you will receive some returns because they are using mining rigs which are specifically designed to mine Bitcoin. This is the service which they offer, and you can bet that their mining rigs are optimized for this kind of work. However, with a site like Hash512, it is quite clear that the owner is not serious enough with the business. These kinds of sites often disappear in a few months of launching. We don’t have much faith in a site like this.
No evidence of payouts and there is also zero community feedback to support their marketing claims on their site. On top of this, some of their promises are unrealistic. 40% referral commissions is hard to come by unless we are talking of a ponzi scam, which is also a fraud that will see you losing your money. Our advice is that if you want to mine Bitcoin, there are decent sites that do it. Make use of them.
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