Today we are taking a look at one peculiar Bitcoin mining site called Mining-net.com. Mining Net claims that it will get you started with Bitcoin cloud mining without the need to purchase your own hardware. It also claims that when you join them, you will get 30GH/s of mining power for a lifetime. The site also claims that no maintenance fees will apply, which makes us think that this is really weird. We have never heard any cloud mining site that doesn’t charge blockchain maintenance fees. And of course the site is also guaranteeing profits.
Are these claims true? Can this site give 30GH/s for free and for a lifetime? To find out, you should read this very detailed review.
We’ve looked at this site carefully and discovered that it is a high risk platform. But we love the fact that the owner didn’t pay for who.is privacy feature. If who.is records are anything to go by, then we can learn that his name is Adrian Adams. He claims to be affiliated with another website called Coin Miners. Coin Miners allegedly sells Cryptocurrency mining hardware. The site is privately registered, which means there is no way to find out if Adrian Adams is the owner of the site.
To cut the long story short, we cannot confirm whether this guy owns or is affiliated with the said website. Therefore, in as much as his name appears on Who.is as the owner of Mining Net website, a lot of things still don’t add up as far as transparency is concerned.
It is very rare to find sites that can give away free hashing power. Mining resources are scarce, and that means most legit mining platforms will never give out any free hashing power.
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As to whether or not Mining Net is speaking the truth about the free hashing power which they claim to give out, we can say that we are not really sure about it. Furthermore, we don’t think it’s possible to give everyone free hashing power because this would result in unnecessary strain of resources especially if many clients are involved. It is not a realistic thing. It comes across as a too good to be true promise.
Mining Net is also claiming that it will generate guaranteed profits. The site is still very new to this industry. It has no reputation and definitely no client feedback. Again, we cannot say for sure that guaranteed profits will ever apply to any investment project.
Also, the most weird thing that this site is promising is that it will mine without any maintenance fees. That is not possible in any mining operation. Anyone who claims that they will mine for you and hand over 100% of profits generated from mining is definitely a liar.
There are 4 highly suspicious investment plans on this website. You can allegedly purchase 100GH/s, 2000GH/s, 20,000GH/s and 60,000GH/s respectively.
100GH/s of hashing power costs 0.0005 BTC according to Mining Net. 0.01 BTC will get you 2000GH/s of hashing power. 0.1 BTC will get you 20,000 GH/s. Finally, 0.3BTC gets you 60,000 GH/s of hashing power.
To the unsophisticated investor who just sees these are mere numbers and attractive returns, it might look like a good and realistic investment project.
It takes an experienced person to tell you what you can realistically earn for a certain amount of hashing power.
84,000 GH/s of hashing power is currently generating up to USD0.60 per day. However, Mining Net is telling us that for 60,000 GH/s, we can make 0.0135 BTC per day or 0.405 BTC per month.
Now, you can do the math for yourself to see how unrealistic this site is in terms of its profit projections. It is selling what cannot be achieved for the amount of hashing power that they claim to sell.
Therefore, if current factors affecting mining of Bitcoins are anything to go by, we can say that these profits are too good to be true. We are even starting to doubt whether Mining Net is a cloud mining platform.
Also, when you look at the footer of the site, you will find a link that says ”Live Farm”. Clicking that link will take you back to the homepage instead of the expected web destination where proof of mining is supposed to be showcased. This is a red flag.
Well, it is almost obvious that this site does not pay. It is a very new platform to start with. There are no reviews or testimonials about it. This means that they have not found clients who are trusting enough to work with them.
Generally, you should be wary of sites that are new in this industry. They never have any good reputation, plus they are always likely to be a scam.
In the case of Mining Net, those profits are too good to be true. We are even afraid to say that those promises will never be fulfilled. This is definitely something else and not mining of Cryptocurrencies.
There are some user stats on the site which suggest that people are actually utilizing their mining hardware. But we would be foolish to believe this lie since we cannot find customer feedback anywhere on the internet. So those numbers are definitely a fabrication.
To cut the long story short, these numbers were edited by the site admin to mislead the financially naive investor into thinking that this site is the real deal. Confirm it with Google and any other search engine and you will realize that this site is not telling the truth.
We do not trust Mining Net at all. There is a high probably that this is a scam. If not, it is a ponzi scheme, which is just another way of sugar-coating the word scam. The best thing you can do for yourself is to avoid it. Perhaps you might want to use these cloud mining platforms. They are really good.
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