Here a little Anecdote about the a Mining Game i found online its called bmining.org.
The main page looks like a simplified CloudMiner site with a FREE BITMINER ASIC S9 ? hold on!
a free 139 satoshi for free? just Sign up? ok that should have been my warning sign number one.. but well who is not naive sometimes..
- if you want to use my sign up link https://bmining.org but dont transfer them any until you read my whole article!
ok so i started "free mining" and collected some Satoshis.. when i noticed oh well lets try out the Withdraw.. so first i found you have to have at least 0.001 BTC for Withdraw ok well, kinda normal for those faucets sites I saw before so I waited until i had accumulated enough funds .. and tried again .. and now i got a new Error..
OK.. Hold on, that should have been Warning Sign number 2 we wont pay out until you pay in.... oh well 0.001 or about 8.00 EUR at that time does not hurt too much .. so well, i went ahead and send them the BTC .. bye bye 8 EUR .. for gaining 8 EUR? why not ... try ...
days later i tried the same again .. and still that same error .. so I contacted the Support.. and no response on several Emails..
Well money wise spend to remind me.. to read the Fine Print... when you sign up you are faced with the normal tick here to agree with the terms and condition hell yes .. I agree to get free 139 satoshi .. but no, I did not ..
when reading the Terms and condition you can find sentence like this:
2.1 Terms and definitions.
Game is an activity aimed at satisfying a person's needs in entertainment, pleasure, stress relieving and also at the development of specified skills in the form of free self-expression which doesn't concern achieving utilitarian aims and which bring gladness per se.
Playing ground is a hardware-software complex located in the global network Internet aimed for organizing of leisure time.
Game "bmining.org" is an economic on-line game "Virtual on-line mining" - isolated and unique name of the playing ground owned by the coordinator and located at the addresses on the Internet bmining.org, on which the Coordinator provides the service for the participant in organizing his/her leisure time in the order and on terms stated in the present agreement.
Game currency is a conditional playing unit, the place of accounting and storing of which is game account of the participant in a computer in the format of accounting system of the playing ground "bmining.org".
Game account is a virtual account of the participant of the game which is provided by the coordinator to every participant on the playing ground for accounting the game currency.
So it Explains that it does not actually generate BTC it generates a Game Currency which later described to be @Market value of the game currency is 1 satoshi = 0.00000001 BTC.
Cash means of the agreed to the Agreement Participant which are necessary for playing (buying means for the game, improvement of the conditions by the player for winning, etc.) are being sent to the general game fund of the Participants (players). Accordingly the Coordinator informs you that the Game is partially based on the principles of financial pyramid and in any moment you can lose all your means and will have no complaints to the Coordinator.
So it confirms it is a Actual Pyramid / Ponzi scheme. So if there is not enough BTC paid in then there will be no BTC paid out ...
which actually seems to be the case ...
So I should continue to use it as described in the Terms and conditions as pure mean to satisfying my personal needs in entertainment, pleasure and stress relieving
Support Email stopped working:
a Surprise Update:
Got this Email:
On Fri, Feb 21, 2020 at 6:18 PM BMINING SUPPORT <email@example.com> wrote:
Dear friend, we have information that you cannot withdraw funds.The system crashed, your payments were not registered. We passed information to our developers to solve your problem. We cannot say when your problem will be resolved. We returned your money in the amount of $9.20 (0.00100000 BTC) to the Payeer account P1021457874. Operation id: 952075621.
Best regards, support BMINING.ORG
So now you probably wonder where or where the hack did he get his money back? Well Funny, The Financial world is highly controlled and governed. So if you use Official ways to pay for something, then there is the high possibility that someone who got your money is looking after that you get what you paid for. And this is why I contacted the Support of Payeer which i used to transfer the initial amount and I tell you they Take every Customer Seriously! Many thanks to them, they reached out to BMining causing them to immediately return my money with no questions asked..
So now I have to kinda take back, that it is a scam, but overall its not what its pretending to be, Use it for fun and Do not over Invest money you would need anywhere else...
Update the second:
so now after the "manual Payout" all my BITMINER Asic S9 have been removed .. and the remaining funds have been cleared
So lets see what the Support has to say about that, after all i lost my satisfying my personal needs in entertainment, pleasure and stress relieving...
Be careful out there!