We understand that Titantrade wasn’t lucrative enough, and so the scammers are doing it again with Titanmine.net to see if they will cash out on your ignorance. These little buggers who run the Titanmine scam have poor imagination. That is why they are trying to recycle what has already been busted. We shall get down to this one too. Are you ready?
Well, Titanmine is supposed to mine Bitcoin for you. It is supposed to give a whooping 10% daily ROI for any amount that you are willing to put down. This ranges from 0.001 BTC to 25 BTC. The site admin claims that they are making it easier for people to start mining Bitcoins without any budget restrictions.
To top it off, they are even giving away 100GH/s of hashing power free of charge. Is this an authentic deal or just another ploy to mislead you? The answer is in this review. We know a lot as far as Titanmine scam is concerned. We should probably let you know that nobody who is or has mined Bitcoin has ever realized a daily return of 10%. Therefore, Titanmine is lying to its audience that they can do the impossible. This is probably something else and not mining of Bitcoin.
Looking at the figures which represent the promised daily returns, we have no doubt that this platform is going to collapse with people’s money. They used to run another scam operation similar to Titanmine. It was basted, and so it stopped being profitable. The next thing they did was to close it down and start a new one called Titanmine.
As you can see now, those profit projections are misleading especially now that the cost of mining Bitcoin is rising and mining is becoming difficult by the day. This is not to say that you can’t make money with mining of Bitcoins. In fact, we have a large audience of readers who have reported that these companies are engaging in legit mining activities, and are most recommended.
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But in as much as those companies are legit, they have never made 10% daily returns to their clients. This is an impossible thing to achieve. It is probably being used as a bait to lure in unsuspecting victims into the trap that Titanmine has laid for them. Such an illegal service is unwanted in the society because they cause massive losses by stealing, shutting down their operations, start new operations and doing the same thing over and over again.
For the companies that mine Bitcoin, it will be clear that their revenue is being generated out of mining activities. They will reference their mining farms and even try giving some evidence pertaining to the fact that they own at least one mine.
However, for the anonymous cloud mining service like Titanmine, no attempt has been made to make us believe their lame story. In fact, this proves that Titanmine does not have any mining capacity. They are instead using new depositor money to pay out members that joined earlier. If new depositors realize that this is a scam operation, guess what? They will flee and the scam will close down because it is unable to sustain the demand. Also, they typically pay pennies as opposed to massive profits. 90% of the revenue that the owners collect are pocketed and the other 10% is used for payouts.
Titanmine is registered in the UK. But company owners or directors have not been mentioned anywhere. No one can trust a company that chosen discreteness over transparency. One thing is that this website is asking real money from members of the public and claiming that it will multiply it. That’s not true. You won’t have your money multiplied since no business activity is taking place here. You can take that to the bank.
We are of course displeased by the fact that this website is even giving us a fake location which is cited in their physical address. They claim that they are based out of London in a physical location. But we are not able to establish their location from any digital map.
A support email has been provided on their website, although they won’t reply to emails that appear to investigate the authenticity of their service. They might open and read them before sending them to the trash box.
That’s pretty much the same way these scams operate these days. Out of all scams we have contacted with tough questions that appear to inquire into their activities, only two or three of them were bold enough to confront us on email. The rest have always ignored our questions.
So basically, any entity that is anonymous and claiming to mine Bitcoin is a scam. Titanmine fits that description.
Given the fact that they are controversial, having hosted another scam and closed down, we can confidently conclude that this one too is not good.
Titanmine does not have a real location. That’s one red flag. The second one is that the operators of this site are completely anonymous. We have enough reasons to doubt them.
The other thing is that they do not have enough user feedback at this time. Since they are very new, we can only review it based on the signs that we are seeing on their website. These are sure signs. One can’t be wrong with a scam cloud mining platform like Titanmine.
Titanmine is making use of misleading marketing tactics to swindle investors of their hard earned money. This is definitely not mining of Bitcoin but a ponzi scheme. A ponzi scheme is meant to take your money and use a portion of it to pay out members who joined before you. The owner keeps the rest. In that sense, we can’t say that a business activity is taking place inside this website. If you want to genuine mine Bitcoin and other altcoins, your best bet is to follow the link we gave above.
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