Cloudthink.io?


#1

New cloud mining site just came up in the ads at the top of the screen an doing my duty as a GOOD GH’er I clicked it on to make some revenue for us. lol :wink:
Cloudthink.io

Does any know anything about them?


#2

honestly with the Ponzi scripts being sold lately, i would suggest one to stay away from all these new companies, go reptuable, theres lots :slight_smile:


#3

“CloudThink consistently generates of its own 100% green, renewable electricity”

I call BS. Profitable BTC/SHA256 mining with any hardware I know of requires electricity at sub-$0.10/Kwh rates. The start-up capital costs alone of renewable is more than that.

But wait, there’s more:

"…experienced financial advisers and traders… "

Where has day trading other coins ever netted more than just a few points more than straight-up mining?

Shhhhh…It’s a secret:

“Our dedication to secrecy regarding our machinery and technological innovations ensures that our competitors hate us, and our investors love us.”

"For security reasons, we can not disclose the complete location of the facility or images of it. "

Maybe one of those high-profile investors can come over to shed some light on this:

“Previously available by invitation only to high-profile investors.”


#4

“To ensure that your Bitcoin mining opportunity is never obsolete, CloudThink allocates significant resources to specialized research and development of new, custom ASIC chipsets with superior kWh / SHA256 hash ratios than those available on the public market.”

I have heard this somewhere else.


#5

Always profitable?

Note to prospective new mining startups…don’t use any Garza-isms in your description.


#6

Well according to the site and some talk on BTC they don’t use mining as pricipal income but other revenue streams.


#7

Which explains investing…

…significant resources to specialized research and development of new, custom ASIC chipsets with superior kWh / SHA256 hash ratios than those available on the public market.

NOT.


#8

Yeah Right another genius that designed ASIC chips and are better than the major players.


#9

CloudThink is a successful multi-national enterprise spanning the U.K. and Taiwan. Founded in 2013, CloudThink consistently generates of its own 100% green, renewable electricity, while our highly qualified team of experienced financial advisers and traders ensures the most effective management available. Our dedication to secrecy regarding our machinery and technological innovations ensures that our competitors hate us, and our investors love us. We believe in the future of Bitcoin, do you?

Mine Bitcoins Remotely & Invest in Custom-Built ASIC Miners at the Same Time!

All very interesting.


#10

i agree. i would like to throw some BTC at it to see how it all works, but mininum invest is 500$ (tho that kinda makes it seem more legit, since in theory a scammer will offer lowest buyin possible?)


#11

I saw that ad earlier today and didn’t even think of clicking it. Seems like I missed a good laugh.

Not necessarily. See LTCGear. Also the $500 minimum fits their narrative:


#12

Tell me about it. I want to generate 1 KW/h for mining using solar, and the best prices I can find are still over $1000. :frowning:


#13

Unless you live somewhere the sun shines 24/7, you’re really looking at generating 2 or 3 KWh so as to charge batteries to cover the dark hours at 1 KWh. So yeah, panels and batteries plus the inverter will cost more than the mining hardware. Add in difficulty increases, “renewable” is a non-starter for BTC mining.


#14

Chief Executive Officer: Richard Coleman
Cloud Think Mining Ltd.
+1-855-261-2270
City: Manchester
State: North West England
Country: United Kingdom
support@cloudthink.io
press@cloudthink.io

Maybe we should reach out and see what the deal is. They are located in the UK so a country that has some fairly tight laws on fraud.


#15

The phone number has a US country code.


#16

On second thoughts

These contracts will earn daily bitcoins for 90 consecutive days with an interest rate (profit) ranging from 3% to 30% at the end of the contract. Interest rates depend on the contract period and package level

This is for the 6 month contract, they pay you for 90 Days don’t know but I thought 6 months was 180 days. Oh well were do I send my money.


#17

I would be very wary about these investment-type sites based in the UK but with infrastructure overseas. Current data protection law doesn’t work well with cloud computing so that would restrict what information they could legally transfer out of the EEA. If this hasn’t been taken into account, then I would treat the company as suspect. I would imagine they would want personal details to prevent fraud but therein lies their problem…

We may have tight laws in the UK but they’ll only be acted upon if there’s compelling evidence to alert the appropriate authorities…Some offences may not even be reportable outside of the EU.

EDIT: No idea how I managed to reply to you @Daffy !!


#18

And now they are selling hardware AND ALOT OF IT! hmmmmm…


#19

you know if i trusted them more, for 1.08 BTC i could get 5 S3’s off them, older machines, but thats with shipping, not bad of price.


#20

Yeah i was just looking at that, they also selling s5’s for $200 a pop, which is $160 than from bitmain. It does state that have been used for 90 - 120 days however its nearly half the price of a new one. I made a test account to see what postage cost would be like, its saying $19 for a flat shipping rate or $39 for Fedex International Express. Those prices are to Australia.

Do we have anyone in the UK or ideally close to Manchester who could try to pay them a visit and see if they are in fact a legit operation. It seems to good to be true, which im guessing means it probably is. I would like some of those s3’s though!