Profitable cloud mining

Cloud mining Hashriver.
The project started quite recently and at the moment it pays out without problems.
On this project, you can mine btc, ltc and doge on two algorithms.
You can mine two cryptocurrencies at the same time.
A test period of 1 Th / s is given for 7 days.
All that you earn in 7 days remains.
You need to make the first purchase or collect 10 referrals so that the test period remains.
Withdrawals can be ordered once a day.
Referral system 10%.
I have already received one payment. There are screenshots of the payment.

And my referral link

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I’m not saying it’s a scam, but be careful. The site has only been registered since December of last year.

What is the best way to find out if certain offering is legitimate or scam. There are cases where scammers also paid to allure new people and those late arrivers basically suffer.

This technology is not only new but also complicated for general people. Even technical people who are not aware of it needs to understand it in depth.

Pools are real, mining is real, coins are real, trading of cryptos on stock exchanges is real… Question is which pool is scam, which mining program is a botnet and which crypto exchange is fraud … and list goes on.

Sorry for the delay responding, i’m not used to checking this site yet.

In regards to your first question, there is no guarnteed way to tell if an offering is a scam or not. The only thing you can do is look for red flags. Such as:

  1. How long as the site been running?
  2. If you google it does any other information or 3rd party come up with information on it?
  3. Does the site provide exact information, such as where they are located, how they make profit, and all of the costs detailed.
  4. What kind of certificate are they securing the site with (if they even bother to HTTPS).
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Any idea about this web site
Genuine or fishy ?

This seems like a fishy.

1 - No contact information given on web site except one email ID

2 - If they are doing monetary transactions their business must be registered legally. There is no such information available on their website.

3 - Googling this Hashriver cloud gives results that can’t be trusted.

I would like to stay away from this web site even if they have given real money to some people.

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In regards to

While I can’t say for sure, I would be cautious. One red flag I see is they aren’t giving information onto how they are mining. Such as there equipment or locations. They also appear to rely heavily on affiliate programs which is also a red flag I didn’t mention earlier. If a site is a Ponzi scheme they rely on new entrants to pay there old one, which is why they are always pushing for affiliates.

One thing going for the site, it’s been around for a long time. That doesn’t necessarily mean it’s more trustworthy, if they’ve kept a low profile maybe they’ve just been able to limp a long for a while.

Something else strange, when you look at there payouts section that they’ve created to “legitimatize” there site, the payouts all come from different addresses which the send from address balance is almost 0 at the end of it. If it was a true payout I would expect it to come from a larger wallet.

Something else to take in mind, there contact address comes up as a mail forwarding company. They clearly don’t want anyone know there true identity. Not unheard of in legitimate company’s, but again not confidence inducing.

Again, I can’t say for sure that it’s illegitimate, but it doesn’t inspire confidence.

Thank you mate for such a detailed analysis.
People must be educated to analyze any site offering related to crypto. This is brand new domain and common man know almost nothing about the technicalities. All they know is Bitcoin is rock star and going to moon so juno to invest in.

This is very best environment for scammers to scam greedy (sorry to be blunt) people.

Maybe we can coin a minimum criteria to judge the genuiness of any site offering such services.

I don’t know if on this forum any such thread exists.

Sounds like a good idea, might also bring some good search traffic to this forum. Not sure how to go about it. Some sort of scoring model maybe?

First we can define number of attributes which can be base to judge.

Then as you suggest, score can be applied and for further quick understanding we can categorize based on colours. Such as Green when it meets 90 to 100% score, 50 to 60 Yellow and 10 to 40 red zone.

But need to have a dedicated thread where such information could be shared. Plus need to see who will maintain this list and apply scores etc. We even can’t leave open to public and judges must be impartial too when they are scoring. So important thing is attri utes must be objective.