Virtual Currency: List of Bitcoin mining scam website: bitcoin mining fake is a process where complex mathematical equations are solved by Bitcoin “miners” in exchange for rewards in the form of new bitcoins. Sadly any Coins lost to those frauds are lost forever and cannot be traced like cash. Every transaction made will be validated by a few nodes and only the valid ones can enter into a block-chain. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin is not like the money we know, it is produced and held digitally. According to the Bitcoin code, every transaction made is validated by at least two nodes and then coded into block-chains. Bitcoin investment schemes are somewhat similar to cloud mining scams in the sense that they promise returns and pay out small daily returns until one day all payments stop and the scammer runs off with users’ invested funds. You may ask me, how can you be so sure that those are just scams. If possible ask your friend to get out of it, before he loses everything.
Scammers succeed because they’re able to broadcast their scam to thousands of unsuspecting targets through social media. Bitcoin is created by the act of mining. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. If anyone can multiply their single Bitcoin 2x or 100x, they will just do that quietly. Which guarantee a fixed or high return to their users. Never engage in any financial transaction, bitcoin or otherwise, via direct message on social networks. Be vigilant when engaging with the social media accounts of legitimate bitcoin brokers or trading platforms, as they are frequently victims of convincing impersonations. Do not trust word of mouth advice from even your relatives or friends. So before doing any investment, do the following checks always: Check their credentials.
Don’t trust anyone claiming they will give you or help you mine bitcoin. These high yield bitcoin investment schemes are clearly scams and many people are still falling for them. The other end of the bargain is never held-up, and bitcoins are stolen immediately.BitConnect.. Examples of cloud mining scams are Hashinvest, Hashpoke, Cointellect, GAW Miners and HashOcean, with GAW Minersand HashOcean arguably having been the biggest cloud mining scams executed to date. Such Bitcoin Investment and Mining Scam Site schemes guarantee a return on your investment between 1% and 20% every day on your BTC deposits bitcoin mining sites legit. However, the more members are mining, the more competitive is gets. .Aeternity.Verge. ChainLink.