The concept of crowd funding has taken a different twist altogether. Most of them now pop up in form of ICOs where you basically purchase an emerging Crypto-currency (named a Token) so as to hold a share of the company’s profits. By doing so, you can earn a certain percentage of the company’s profits every day for life or as long as you’d wish to hold the contract.
Terra Miner (Terraminer.online) is one such ICO that promises a good business opportunity for those who will be looking to invest in their new coin.
Terra Miner promises to triple your profits in the next 3 months (if you join now). The website also promises daily payouts — something which we find very suspicious because as the mining difficulty increases, so does making money on a daily basis becomes an uphill task.
Nonetheless, the project is on its ICO phase. As we write this review, we can see that the countdown timer is quickly ticking to their pre-sale.
Terra Miner is asking members of the public to invest as little as $100 on the promise that they will triple whatever amount you give them in 3 months time.
There is also a Telegram channel where investors can subscribe to have a one-on-one chat with the founders of Terra Miner.
So in this review, we will be discussing important things that are related to this project. You need to take this seriously as far as your investment on this company’s Tokens are concerned.
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From the official site, we can gather that Terra Miner is based out of Bulgaria.
Terra Miner is not clear on whether they have built or are planning to build mining facilities at southern city of Shaoguan, China.
We do not know whether they are actually constructing or have completed constructing these mining rigs. No one dares to address this question on their whitepaper.
The company’s whitepaper suggests that this might be the most profitable Token to invest in before the end of the year (as at the time of writing this review).
Some of the things which they mention as reasons why this Token is profitable to buy and hold is that Terra Miner has access to cheapest electricity and that they could easily move their mobile mining farms to places like Irkutsk, Russia where electricity is apparently cheaper than what the Chinese are currently selling electricity for.
Terra Miner claims that they are currently paying 5 cents per kWh in China and that they could pay less if they planted their mining rigs in other places around the world.
Alongside cheaper costs of electricity, Terra Miner also claims that they are affiliated with a chip manufacturer which will see them acquiring mining hardware cheaply.
Just in case you didn’t know, the Token which Terra Miner is offering is called TRM. TRM allegedly represents 1 MH/s of Scrypt mining power.
We first bumped into a weird video doing rounds on YouTube promoting Terra Miner. This promotion video features a man in a grey jacket shouting while claiming that he is near a noisy mining rig.
The problem with this ad is that this man is standing in front of a green screen, not next to the so-called noisy mining rig.
But he obviously does not confess this fact as he would like people to believe that indeed Terra Miner has embarked on serious operations in that part of the world.
The voiceover was poorly done too. This makes us wonder why this company couldn’t sponsor a professional ad for its target audience.
The man is clearly not speaking English in this video. But that isn’t a problem. The main problem is that this video is unprofessional and very misleading as a matter of fact.
The man in the video goes on to say that they are planning to build an innovative mining rig that will solve all problems currently facing existing mining rigs. This would be noise, over-heating, and ever increasing cost of electricity.
Next, the man claims that he is ready to hold a round table sort of discussion with anyone who is interested in finding out how he plans to achieve this goal.
This man is allegedly called Pavel Kuznecov. In that video, he claims that it will be the first time members of the public will be given the opportunity to purchase shares from a mining farm and actually make profits from those shares.
We do not know why he keeps misspelling the name of this company as ”Terramier” when we all know that this company is called Terra Miner.
When you continue to listen, you will hear him make downright absurd claims about this company. It’s actually very hard to follow the rest of this video because the man doesn’t speak English clearly.
The first red flag that we picked in this video on YouTube was that Terra Miner was promising guaranteed profits.
In that video, he claims that if you purchase Tokens in their pre-ICO pricing phase, you will be guaranteed a profit of 300% in the next 3 months.
Of course these claims don’t make any economic sense. We had to investigate this company from multiple sources just to find out what was truly going on here. 300% in 3 months is something the world will consider absurd and unrealistic. It’s something that is borderline insane.
Actually, one of their representatives even claims on Reddit that the company has received some 341 Ethereum in funding. There is no way we can verify these claims though.
When you discover that a presentation is full of inconsistencies, yet the aim is to convince you to buy Tokens, think twice before you act.
The sales pitch is definitely full of problems. Anyone who is keen enough or has some experience with Blockchain technology will tell you that the presentation is full of inconsistencies which should also be treated as red flags.
TerraMiner contradicts itself when it comes to their supposed mining operations. In this YouTube ad, the company is clearly soliciting public input to build a mining farm. In a separate video, these folks claim that the mining farm is already in the construction process.
In this video, they claim that this mining rig will be complete, fully operational and paying investors in the next 2-3 months from now.
Then in this Reddit Link, we see that the company is asking whether Shaoguan is the best place to build a mining rig. You see, if we were to take it that Terra Miner has already embarked on the process, it would be a case of a site having been picked, contracts signed and construction work commenced.
Now, here’s the best claim of all. That once construction is complete, TerraMiner will allow investors to visit their mining farms if they wish to do so. But this is a meaningless statement.
First off, if this is a ponzi scheme, the site will have gone under long before you can request for this visit. In fact, they will not even see the need to spend money building a mining farm.
If Terra Miner is currently building a mining rig, there is need to post those pictures and even allow investors to visit the site now, not in the future.
There is so much inconsistency here. Terra Miner failed to convince us. It’s therefore risky to invest in their Tokens.
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