The Bitcoin mania has struck again. With the BTC price recently crossing $20,, many people look for ways to take part in the frenzy. Start mining on AWS today . Bitcoin mining refer to using a node to verify transactions, compile them to a block, solve computational puzzles and submitting the block to the network for a block reward. Most of the effort in the step above are in solving those computationally intensive puzzles. Sep 13, · A new cloud mining operation, called AWS Mining, has been making some fuss on social media promising high returns for its investors despite the slump in bitcoin mining profitability, it has been on since mid Now is this real or another scam?.
Btc mining on awsA View On AWS Bitcoin Cloud Mining Scam
It then simply means that they cannot be held liable should anyone fails to make the guaranteed returns as marketed by them or even worse any worst case scenario which may arise in the platform.
Furthermore, there is no information regarding other claimed members of the AWS mining team besides Daniel Beduschi, who has been linked with multiple scams. Definitely this is not a good profile for AWS. A company is made by the people behind it. If already, one of the founders has a past scam or dubious history, therefore what makes you think that things will be different with AWS Mining from previous companies he had been at that scammed people?.
You can guess your answer well. Summarily, it seems the model structure and mode of operation of AWS Mining is that all revenue is derived from new investors coming on board who are expected to recruit more investors that can actually purchase one of their contracts without which the business would collapse outrightly.
Importantly, AWS Mining claims to be an Australian company but does not have any traffic coming from Australia which is their base. Information from data derived from Alexa shows that the site started receiving visitors from even though on the website, AWS Mining claims it started mining in In addition, 33 percent of their traffic came from Brazil, 10 percent from Colombia, 9.
So, how does a company that is based in Australia, not have a single person visiting the site from there?. Notably , in November of , AWS Mining PTY Ltd was reportedly hit by a cease and desist order issued by the Securities Commissioner for Texas including MyCoinDeal for issuing cryptocurrency mining investments because they offer very high returns to marketers selling the mining contracts.
No comprehensive information on the individuals behind the company 2. Steve Beduschi, one of the founders, has been linked to other bitcoin scams in the past. Promises unrealistic high daily returns to investors regardless of crypto asset price values.
A ploy to woe unsuspecting investors. Data on Alexa shows no traffic from Australia which is where the company has its headquarters. Highly suspicious. Take note. AWS mining company claims to takes care of virtualization of the hardware for you.
And again, EC2 instances of the g2, g3, and p2 flavor can run you a pretty penny. Ethereum dual-mining profitability comparison late June If you have been a part of an MLM scheme like; MMM and GHW before, you will find out that, what they do is they have the initial investors, who then recruit more investors and the cycle goes on. The initial investors earn from the revenue earned from new investors.
It seems AWS Mining is deploying this same strategy and may not be mining at all. AWS Mining has seven different affiliate ranks as shown below:. Return On Investment that is applied for each affiliate recruited.
Simply put, if you invest in any of their contract plans, and fail to recruit new members, you will not make any money from the scheme and that means the scheme will basically collapse with no additional money coming in from new members as is typical of MLM schemes that have existed before.
AWS Mining says that only the most talented professionals, and lists the following individuals listed below as team can achieve their major mission:. There are people with the names they have on the team on LinkedIn, their profiles do not match what is listed on the website which means they do not exist.
This simply means that they cannot be held liable should you fail to make the guaranteed returns as marketed by them, or even worse, end up losing your data from using the platform. Furthermore, besides Daniel Beduschi, who has been linked with multiple scams , there is no digital trace of any of the other members of the AWS Mining team.
If already, one of the founders has a past scam history, what makes you think that things will be different with AWS Mining from previous companies he had been at that scammed people? Get help. Please enter your comment! Please enter your name here. You have entered an incorrect email address!
Sponsored Posts. A digital technology that notes and maintains data, with a decentralized James Woods - June 22, BitGesell, the only true digital gold, is proudly listed on major crypto exchange Hotbit Exchange. Ever since the creation of cryptocurrencies, there has been Cryptocurrency trading has indeed evolved this past decade — from being a space where looking for fellow traders was highly dependent on chat forums Press Releases.
Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.
We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent.