Coins, Editor's Choice, Featured, Mining, News, Scams

DogeMoon” Dogecoin Cloud Mining Investment – Review (part 1)

29.01.2019 update: this is an archived article. Learn from our mistakes! Do not take our warnings lightly!

DogeMoon dogecoin invest review
Since we just do not learn from our mistakes and despite our own recommendations regarding never ever ever “investing” ANYTHING into “mining” websites, 99.9% of which are Ponzi schemes (you will get lucky if you jump on the train early on and you will lose all your moneys if you are late to the ball), we have come across a recommendation on (!) FaucetHub (!) forum (!!!) which we followed (!!!) and “invested” our entire DogeCoin savings we earned from MoonDoge Faucet into testing another “Cloud Mining” company.

invest dogecoin
Goodbye, hard-earned Doge…

We previously reviewed Tesla Mining, which boasted promising free hashpower, so we did not have to actually spend any crypto then. Now, we decided to go all in. Why?

Off-topic:

DMYF is a non-profit portal. What little we earn from referring users to Faucets (and spending hours writing guides, articles, news, etc.) we use for:

– Testing Exchanges
– Testing Faucets
– Testing Wallets (e. g. how fast Coinpot releases funds)
– Exposing scammers, – making sure a criminal does not run away with thousands of your dollars.
– Improving our Website (this is where we need your kind help, – read more)
Giving it away to you, our readers.

As you can see we are willing to spend our own crypto to test a service or expose a scam. For the sake of your safety.

We believe in our cause.

Back to DogeMoon.

So, it took about a DAY for our deposit to reach DogeMoon‘s autogenerated deposit address. We were starting to get nervous, but eventually…

multiply your doge
A deposit of 252.18 Doge has reached the Cloud Mining service. DogeMoon offers 4.5% a day from amount of your deposit.

So, not so long ago we checked our balance to find out that…

dogemoon legit or scam.png
…we have reached the minimum withdrawal.

Now, we are faced with a dilemma: DogeMoon offers its users to “reinvest” the Doge they “earned” instead of withdrawing them. Tempting?

moondoge withdrawal.png
Not really. We want to make sure that DogeMoon pays out what it promises to pay out.

However, being careful and cautious, we go to the FAQ section to find out that…
moondoge minimum withdrawal amount.png
In addition to the minimum withdrawal amount, there is a 4 Dogecoin transaction fee.

Red Alert! Warning bell! 

Why?

Because Dogecoin notoriously charges very little for wallet to wallet transactions. 4 Doge commission on 50 Doge is nothing but robbery. 

Coinpot.co charges nothing for Dogecoin withdrawal (50 Dogecoin minimum).

CoinExchange, a cryptocurrency exchange charges 2 Doge for withdrawal.

LiveCoin, a cryptocurrency exchange charges 2 Doge for Withdrawal.

Why is this important?

Because it is a sign that MoonDoge is a Ponzi scheme and not a legitimate operation. DogeMoon’s primary source of income should be mining, not transaction fees. 

Contemplating on that, we remember another issue: it is well-known that Coinpot.co addresses often do not work for deposits. We have contacted Support about this issue (waiting for a reply). Since we do not want our Doge lost in transition, we want to change our withdrawal address. As expected, there is no such function anywhere on DogeMoon.

Our only option is to contact Support. At the very end of the FAQ page, we find the following:

“HOW CAN I GET IN TOUCH WITH YOU?

Only very important questions, otherwise we will not answer. admin@dogemoon.cc”

Oh, wow. ORLY??? Do not even bother to contact the administration with a general knowledge question. Make sure your question is important. The administration is very busy trying to multiply your Doge.

Dear Readers, please note that it takes no more than a few hours to construct a website like DogeMoon for a small team of experienced web designers. Maintaining the website is not building the Great Wall of China either. 

Now, why is it so difficult to reach the owners of Ponzi Scheme Cryptocurrency Mining websites?..

We have sent an intro e-mail prior to depositing the Doge. Naturally, we received no response. Now we have sent an email asking whether it is possible to change the Dogecoin withdrawal address. We will be surprised if we will receive a reply, however hope dies last…

Staus quo: 50 Doge lies on DogeMoon hanging. 

We are not sure we will receive the profits to our Coinpot Doge address, -previously we received an “invalid address” error when trying to transfer Dogecoin from CoinExchange cryptocurrency exchange to coinpot.co, so instead we transferred the Doge to LiveCoin cryptocurrency exchange wallet, as we thought the issue had to do with CoinExchange…. The transfers to coinpot.co wallet were intended to benefit from low exchange rates (but that is a story that deserves another article). Both LiveCoin and CoinExchange are reputable companies, unlike DogeMoon which is, pardon our French, dodgy as fuck.

Since we do not expect a reply for hours and, besides, we do not even know whether our query is important enough for the DogeMoon administration, we are choosing the worst possible option.

Since we believe that money should always be working to make more money, we decide to “reinvest” our “profits. 

invest doge multiply doge doge mining doge profit mining passive doge mining cloud doge mining
…only to find out that…

invest doge low minimum payout

The minimum reinvest amount is 100 Doge.

Was it mentioned anywhere in the FAQ section?

Hell no.

Red Alert. Mayday, Mayday! Warning Bell!

What’s the panic? Well… CloudMining Websites are short-lived.

DogeMoon Dogecoin Cloud Mining Investment Vehicle: Preliminary Summary and Part 1. Conclusion:

how old is dogemoon how old dogecoin cloud mining
As sceptical we are regarding DogeMoon’s legitimacy, we do not doubt that the Dogecoin payout figure is correct. However, what one must focus his or her attention on is how many days DogeMoon has been running for. Hopefully, “why is it important” is a hypothetical question. Subjectively, we feel that our investment is in serious risk.

Circa 20% of our initial investment is ready for withdrawal on day 5.

If you have 100 Dogecoin, you can trust in goodwill of DogeMoon’s owners and “invest” the funds in their Cloud Mining operation. There is no evidence that DogeMoon actually uses the funds acquired from investments towards expanding their mining business.

All you need is a Dogecoin address (do not use your Coinpot address as we did!), which acts as a login. You do not need to create an account to start “earning” the advertised 4.5% ROI a day. Minimum withdrawal is 50 DOGE, minimum investment is 100 DOGE, minimum reinvestment is 100 DOGE. Your earnings are calculated in real time. Other users’ investments and payouts are demonstrated in real time.

Note: your deposit lasts 30 days.

Q: Is 4.5% daily ROI a lot? 
A: It is insanely a lot. Freebitcoin offers 4.08% annual return, or 0.0109589% daily return on your Bitcoin savings, – that is realistic. What DogeMoon promises is viable only as long as new users keep registering and sending their Dogecoin to the website’s address. That is, unless the creators of DogeMoon know something about economics, cryptocurrency, investments and mining that we don’t.

Q: What is a Ponzi Scheme? You keep mentioning it in relation to mining websites…
A:
See above. A Ponzi Scheme is a financial pyramid which is sustainable as long as investments in the system grow exponentially. Ergo, the first “investors” will receive their “profits” which are generated by people who “invested” funds at a later stage. There is a timer before it all explodes. Since cryptocurrency market is poorly regulated, the amount of scammers using a century-long trick to fool people out of their money is incredible. We are doing our best to warn and educate users about a simple fact: if something is too good to be true, it is too good to be true.
Practical example: Tesla Mining.
Further reading: https://en.wikipedia.org/wiki/Ponzi_scheme

Q: If you are so sceptical about DogeMoon, why did you spend your Dogecoin?
A: To demonstrate the degree of our involvement in testing cryptocurrency services. To show that we are not lying when we state that our mission is to make the crypto world a tiny bit safer. The doge invested in DogeMoon were earned through Moon Faucets. We do not like reviewing mining businesses; alternatively we would have used the Doge to test out LuckyGames, – a cryptocurrency casino!

Q: Are there LEGITIMATE Cloud Mining operations? 
A: So far, Eobot’s Cloud MIning service has not gone out of business and has been around for a long time, as these businesses go. Apart from Cloud Mining, Eobot offers a faucet and some other features. Our review of Eobot is pending. In comparison to DogeMoon, Eobot seems more legitimate.

Aside from that, the only vehicle which we would trust when depositing our funds is Freebitcoin.

Q: Is DogeMoon associated with MoonDogecoin?
A: NO! DogeMoon is exploiting the name of a popular, legitimate faucet which does pay out Dogecoin. Want to add legitimacy to your shit brand? Try to associate with something popular. CCRB’s CEO shakes V. Buterin’s hand on a summit CCRB sponsored? That photo was the reason CCRB sponsored the forum. Vitalik Buterin will NEVER appear anywhere close to a CCRB official. CCRB’s CEO signs a deal? The caption mentions “Canary Wharf offices”. Tesla Mining mentions an address? They have an office! Moreover, it is a London address! Must be legit!.. Disgusting, right?..

…or maybe, sometimes Moon is just a Moon.

Q: If you keep repeating how risky Cloud Mining investments are and review DogeMoon negatively, why do you post referral links to their website?! Isn’t that hypocrisy?!
A: No. First of all, referral links help us track the number of people interested in our articles. Secondly, should a visitor find the article informative, decide to create a DogeMoon account and manage to make a profit, why should we say “no” to some extra income from DogeMoon? The referral income does not come out of a user’s pocket. Finally, this article is merely part 1 of the review. We will publish part 2 in five days time; a lot might change in five days.

P. S. We do not offer investment advice, we do not recommend investing in Cloud Mining operations, we do not offer financial advice. All information mentioned above is a reflection of personal experience and is published for entertainment purposes. When making a financial decision, please contact your financial advisor.

To be continued…
Airdrops, Bugs, Buying Cryptocurrency, Coins, Editor's Choice, Faucet News, Featured, Giveaway, Guide, ICOs, Markets, News, Scams, Signals, Tokens

CCRB Giveaway Scam: “Refer and Get Zero”.

Screen Shot 2018-05-01 at 23.17.41
In your dreams
Screen Shot 2018-05-01 at 23.17.23
In reality

Dear All,

Understandably, many are curious what is happening to their referral bonus now that the CCRB Token Sale is over.

CCRB did clearly state, via the platform’s website and through correspondence, that the referral bonus will be paid out once the Token Sale finishes regardless whether the referrals make a purchase or not. It was repeated numerous times and as explicitly as it gets.

However, please remember that the cryptocurrency world is largely unregulated. Most of the companies are honest and abide by their promises and T&Cs. Others don’t.

Have you “worked” hard, promoted the CCRB platform and attracted 100s-1000s of referrals?

Did you get excited, looking at those hundreds of USD in your virtual “wallet”?

Do you feel screwed over now that you are all of a sudden expected to somehow make 20% of your referrals purchase something from CCRB’s so-called “partners” (are these partnerships real and unique?), even if you have no clue who clicked on your referral link? Well, sorry to say, then you learned your lesson from an interaction with a Ponzi Scheme-ish organisation.

In case it makes you feel any better (it should not), there are people who feel that they’ve been screwed over even more than you do, – those who actually “invested” in purchasing the CCRB Token when there was no indication that CCRB is interested in anything apart from increasing the perceived legitimacy of its “ecosystem” and investing in anything apart from making it seem that the CCRB token is actually worth anything.

CCRB Token Price.png

(is CCRB a scam or not? What is it all about? How true are all those numbers stated on CCRB’s website? Stay tuned for full digest of what, how and why!)

Q: I have contacted all my friends, family, posted in Facebook/Twitter/Steemit, got 400 (500, 600, 1000) people to register and was waiting for the end of the Token Sale and now I find out that, unless 80 people (100, 120, 200) make a purchase, it was all for nothing…

A: So, according to the “logic” (or absence of such, rather), you should NOT have referred many people. If you would have only referred your immediate family of five people and got your mom to buy whatever from whomever, you would receive 100% of your referral income

Ergo, the harder one worked to promote CCRB, the further he or she lowered his or her chances to get anything in return. But you did not know that up until today, did you.

Q: But they said… But they wrote… But it was stated…
A: Yes…:Screen Shot 2018-04-19 at 10.54.38
…and the CCRB “Whitepaper” states that “the token is based on the Bitcoin 2.0 protocol”. Nuff said.
…to be continued.

Editor's Choice, Featured, Funny, ICOs, Mining, News, Scams, Tokens

CCRB Token Sale Results – This is (not) a Joke

Before the second round of Token Sale, CCRB’s Whitepaper (sic!) was like:..

CCRB works just like Bitcoin, but removes mining for profit. CCRB is 100% pre- mined and the cryptocurrency is closely linked to cash-back and loyalty platforms.

Based on the Bitcoin protocol, CCRB will virtually eliminate mining for profit – the aspect of cryptocurrencies responsible for harming the environment, through wastage of electricity.

CCRB Whitepaper Fail.png

source (hurry, before it’s taken down)

Awww, “wastage of electricity”, awww. Anyone with half a brain saw past that statement when reading through the “Whitepaper” (we recommend having a read, – CCRB’s Whitepaper is Alice in Wonderland of cryptos).

When the second round of Token Sale was coming to an inglorious end, the official CCRB Newsletter is like:..

First up, we have the Mining CPU tool, which enables users to actively mine cryptocurrency using nothing more than their standard laptop/PC and an internet connection!

Screen Shot 2018-04-27 at 13.56.59

– wait… What about the ENVIRONMENT?..

Basically, the Newsletter piece saying to all CCRB holders and followers: “look to which extent we don’t give a flying f*uck, – Whitepaper? Who gives a damn?

Phantasmagoria? Identity disorder? April Fool’s? Naaah.

Token Sales Targets barely met halfway.

Airdrops, Buying Cryptocurrency, ICOs, News, Tokens

Competition. Is Bitlle’s appearance a wake-up call for CCRB?

Competition being the driver of progress… as well as a test of “who is who and what the fuck”…

Bitlle

Bitlle offers a… platform which offers cashback services and loyalty bonus exchange scheme to its members… In form of Etherium-based ERC20 tokens (for now)… And more.

Read the short version of the whitepaper.

Register now to get ahold of a BTL token and jump aboard the cashback/loyalty platform very early on.

“It is a pilot project of our platform and one of the tools used for primary allocation of tokens. As we speak, users can purchase goods and services via this project in thousands of online stores worldwide, receive fiat cashback and Bitlle tokens for loyalty. We test all development works first and foremost on this project.”

Bittle

The appearance of competition is nothing but positive news. The cryptocurrency market already seems overpopulated and artificially inflated. With almost 2000 tokens and coins in circulation, the market has been pushed to the degree where it becomes difficult to keep track of new developments. Google proceeds to ban open and plain ICO advertisement (the “pay us money and we will make you rich” type) to protect the consumers, however the ban (which is no more than an immune system protection of a very average consumer) will affect only new companies and only the ones too lazy to think past a flashy banner as an advertisement of their form of “revolution”.

However, companies that did undergo some form of initial coin offering have laid their hands on significant budgets and have been holding onto them for months. The question is, whether the older companies have used the funds in a cost-efficient and relevant matter (to better the system, rather than to better the appearance of a system), whether they have abided by their roadmaps, etc. Those companies will be put under, perhaps, a more serious form of pressure, – that, stemming from even newer, “younger” and very money-hungry competitors, which, most likely, have learned from the mistakes of their “fathers” and will not fall under the trap of overpromising and underdelivering.

The client loyalty market is an exciting (and very “rich” sphere), however, does it really need ten companies offering very similar services and ten tokens ?.. Do the consumers need ten extra store loyalty cards to carry around in their wallets? Wasn’t the cryptocurrency market supposed to simplify the processes of exchange of value?

Since both CCRB and Bitlle have Emirates Airlines as their cryptocurrency cashback partner, it seems that the “big business” does not mind where the influx of potential new clients will stem from.

A much closer look is necessary to compare the pros and cons of the two platforms in detail.

CCRB

Reminder: CCRB rewards the participants of its ecosystem with “cashback” in form of its own cryptocurrency, instead of traditional fiat cashback. In fact, CCRB has a very vague connection to traditional cryptocurrencies. It is merely a form of “e-cash”, which can be exchanged with actual cryptocurrencies, or some major and minor exchanges (LiveCoin, BTC-Alpha), at market rates. In effect, by making a “real money” purchase from one of CCRBs partner companies (e. g. the above-mentioned Emirates Airlines), a consumer can get up to 25% of the purchase value back in any cryptocurrency of his or her choice after exchanging CCRB ERC20 tokens to Bitcoin, Etherium, Litecoin, or back to fiat. Additionally, the CCRB tokens can be used towards future purchases (that includes the “$5” you get for registration with CCRB).

WARNING: CCRB IS A SHADY OPERATION. CCRB CARES ABOUT NOTHING BUT MAKING AS MUCH MONEY AS POSSIBLE BEFORE WITH NO REGARD TO USERS’ INTERESTS. DO NOT TRUST WHATEVER CCRB PROMISES. DO NOT INVEST IN CCRB. CCRBs T&Cs CAN CHANGE WITH NO WARNING AND LEAVE A USER WITH NOTHING. IF USING CCRB, EXERCISE MAXIMUM POSSIBLE CAUTION. 

Read: 

CCRB Token Sale Results – This is (not) a Joke

CCRB Giveaway Scam: “Refer and Get Zero”.

Airdrops, ICOs, News, Tokens

Bittle vs. CCRB: A Challenger Appears

Competition being the driver of progress…

Bitlle

Bitlle offers a… platform which offers cashback services and loyalty bonus exchange scheme to its members… In form of Etherium-based ERC20 tokens (for now)… And more.

Read the short version of the whitepaper.

Register now to get ahold of a BTL token and jump aboard the cashback/loyalty platform very early on.

“It is a pilot project of our platform and one of the tools used for primary allocation of tokens. As we speak, users can purchase goods and services via this project in thousands of online stores worldwide, receive fiat cashback and Bitlle tokens for loyalty. We test all development works first and foremost on this project.”

Bittle

The appearance of competition is nothing but positive news. The cryptocurrency market already seems is overpopulated and artificially inflated. With almost 2000 tokens and coins in circulation, served across 150 exchanges, the market has been pushed to the degree where it becomes difficult to keep track of new sub-industries appearing, not to mention keeping track of the companies currently undergoing an ICO.

Overpopulation harms all. Google proceeds to ban open and plain ICO advertisements (the “pay us money and we will make you rich” type) to protect the consumers, however the ban (which is no more than an immune system protection of a very average consumer) will affect only new companies and only the ones too lazy to think past a flashy banner as an advertisement of their form of “revolution”. Nevertheless, the form of regulation originating in the private sector and from a company with a positive public image serves as a contributing factor to the falling price of Etherium.

Besides, how fair is the ban? Companies that did undergo some form of initial coin offering (or multiple initial coin/token sales, all depending) have laid their hands on significant budgets and have been holding onto them for months. The semi-rhetoric question is, whether the older companies have used the funds in a cost-efficient and relevant matter (to better the system, rather than to better the appearance of a system), whether they have abided by their roadmaps, or whether  they even bothered re-reading their Whitepapers after the “initial writing” was done. These companies will be put under, perhaps, a more serious form of pressure, or even a test – that, stemming from newer, “younger”, fresher and very money-hungry competitors, which, most likely (and hopefully), have learned from the mistakes of their “fore-fathers” and will not fall into the same trap of overpromising and underdelivering.

Lets take the client loyalty market as ab example, –  an exciting (and very “rich”) field, however, can it really fit ten companies offering very similar services and ten tokens ?.. Do the consumers need ten extra store loyalty cards to carry around in their wallets? Wasn’t the cryptocurrency market supposed to simplify the processes of exchange of value?

Since both CCRB and Bitlle have Emirates Airlines as their cryptocurrency cashback partner, it seems that the “big business” does not mind where the influx of potential new clients will stem from.

A much closer look is necessary to compare the pros and cons of the two platforms in detail.

If you haven’t done so, you can still register at CCRB to get ahold of 5$ (“internal value”) worth of CCRB tokens.

CCRB

Reminder: CCRB rewards the participants of its ecosystem with “cashback” in form of its own cryptocurrency, instead of traditional fiat cashback. In fact, CCRB has a very vague connection to traditional cryptocurrencies. A CCRB token cannot be “mined” because it is merely a form of “e-cash”, which can be exchanged with actual cryptocurrencies, or some major and minor exchanges (LiveCoin, BTC-Alpha), at market rates. In effect, by making a “real money” purchase from one of CCRBs partner companies (e. g. the above-mentioned Emirates Airlines), a consumer can get up to 25% of the purchase value back in any cryptocurrency of his or her choice after exchanging CCRB ERC20 tokens to Bitcoin, Etherium, Litecoin, or back to fiat. Additionally, the CCRB tokens can be used towards future purchases (that includes the “$5” you get for registration with CCRB.)

Airdrops, Coins, Faucets, Featured, Markets, News, Signals, Tokens, Trends

Black CryptoFridays …when darkness descends upon the markets and portfolios are coloured red…

Yes, that term has already been coined. We would be surprised, otherwise.

The markets have seen worse. Remember the prophecies of doom what happened when China slashed cryptocurrency trading, restricting the search engines from showing anything crypto-related? First of all, when rumours of the Central Bank’s talks began spreading, within a day, bitcoin price in the Chinese exchange market increased by 9.3%, while other major markets (both Western and Eastern) remained stagnant. Momentum was rebuilding in China, despite the ongoing bitcoin exchange ban talks.

Then, for some time, Japan became the Asian cryptocurrency centre and the yen trade volume surged. Surprise! Traders moved offshore. Besides… What is the geolocation of Binance, the leading cryptocurrency exchange by daily trade volumeDemand for Bitcoin in China increased. Japan’s stagnating economy only welcomed the new status:

Takashi Shiono, Credit Suisse, Tokyo: “There are estimates that tax revenue from the cryptocurrency business, including capital gains taxes from individual investors and from corporations, could amount to 1 trillion yen (US$9.2 billion), though that is very speculative at this stage.”

Oh, the price of Bitcoin slumped temporarily, allowing those willing and able to take risks to profit off buying in cheap. Same scenario happened with South Korean government agencies proposed regulation: about 10 days later, the markets were, pardon the slang, like “whatever” (see chart below).

BTCpricesouthkoreanresonse.png

We mentioned the fate of said South Korean regulations previously. Why? There almost was a public uprising!

Why did the price of Bitcoin fall so low over the past days?

There are about 10-15 solid an 25-30 speculative reasons why. We will let Carter Thomas, do that for us. Hey, it’s the weekend. To us, it looks like one of those perfect times when you should go out, meet some friends, watch a film, do some shopping, play a computer game.

Still thinking about the cryptocurrency market and the blood-red of your portfolio? Ok, watch something on Viuly instead and get yourself some free VIU. Shop for virtually anything through the CCRB shopping system, – browse through AliExpress, get yourself a new gadget, buy someone a present or explore some holiday destination at a massive discount and get yourself a flat 25% cryptocashback bonus. Register at Cointiply and play a computer game, earning some satoshi for it. The rewards aren’t great, but you are free to play as often as you like and some of the games are actually cool; the truck arcades and Swoop are amongst the ones we enjoyed testing out:

(please forgive us for our sense of humour; the actual gameplay is fun: flying around amongst pretty landscapes, collecting shineys; but Black CryptoFriday (or BlackCrypto Friday? right?) 🙂

All is well, Feathercoin is still going strong against BTC (remember where you can get ahold of some free FTC for doing nothing and where you can trade them?). DASH is doing well against Etherium. Crave is just showing fiat who’s the boss. Other than that… Um, red is the new green? 🙂

*note: we previously have not mentioned Crave. We will.

*note: all factors considered, almost any CCRB cryptocashback offer, not mentioning special offers, beats a similar cashback offer from a traditional provider, such as Quidco. 

*note: we have not previously mentioned Viuly: if you haven’t yet, create an account now; you get 10 VIU for registration and random amounts of VIU for various bounty tasks. The ERC20 token is traded on major exchanges, however withdrawing VIU is a subject for a separate guide. Hint: VIU supply is limited…

Hope you have a great, diverse weekend!

Sources and Further Reading:

https://www.express.co.uk/finance/city/914507/bitcoin-news-cryptocurrency-japan-price-boom-coincheck-ripple-ethereum

https://www.bloomberg.com/graphics/2017-bitcoin-volume/

http://www.scmp.com/business/banking-finance/article/2132009/china-stamp-out-cryptocurrency-trading-completely-ban

https://www.ccn.com/bitcoin-trading-volume-in-china-rises-significantly-despite-exchange-ban-talks/

http://www.scmp.com/tech/innovation/article/2125282/chinas-bitcoin-crackdown-raises-cryptocurrency-demand-they-move-peer