I ran across this “Cloud Mining” concept while researching mining protocols. Seemed promising as they are even paying for Google Ads to promote their site. Heck, they’re offering 100GH/s FREE! 10 days ROI and instant withdrawal.
Must be raining BTC over there, well, maybe not. The site claims they have over 211K members! Wow i said to myself, this must be the way to go, i just invest .0015000 BTC and i get back .0045000!!! This ROCKS!!! I get a 300% return right off the bat?
So of course, before I give away my valuable BTC to a Cloud Mining site, I want to do some research. I went in with a positive attitude and a smile on my face, but walked away scratching my head. In a day where you can research almost anything, I’m surprised to see that some “legitimate” players are associated with this type of operation. I say legitimate because the main “verifiable human” in the corporate docs seems legit. So off i went on my journey.
The name of the company listed in the UK as SPACEMINING LTD. They have a link to their “Company Information” I have provided the link to this document here.
Listed as the CEO is Lewis Wright, sounds legit, I mean there’s a picture of him in a suit on the website. He looks pretty trustworthy, and he is listed on the company documents. But wait! I though I came across this face before, I normally will forget names, but hardly ever a face. A quick search, and voila!!! Getty Images must have hired him to do a modeling session. Checkout “Business man with arms crossed…” – all image URL credits to @tyriontales
Lei Wang, the CFO can be found here as well. I couldn’t find any information about this character. I guess he’s just a model for Getty images too. And as for the “Lead Developer” – His GPA is pretty low, and might be worried about it. OK, so you get the point, something is up here, were just not sure what. So lets keep going.
I decided to keep reading the corporate document they filed with the government of the UK, here’s where is starts to get interesting. On the document, the other “shareholder” is listed as Kieran Daniels. He WAS the Vice President of Marketing at Verge.
Kieran Daniels @kierankyle
Kieran is the Vice President of Marketing for Verge Currency. He was #6 at Instapage.com and scaled the company from 2,500 to 250,000 users before successfully exiting in January 2015. He is one of the top CRO’™s in the world and is passionate about data driven automation and sustainable growth. He is the founder of CryptoAnswer.com and is focused on scaling Verge Currency by implementing proven marketing principles and strategic partnerships. – credits medium.com
So why would a reputable, and seemingly successful entrepreneur get involved with what looks like a “less than desirable way” to mount a business with cryptocurrency? Not sure! But i ran across some posts that seem to point to some bitterness with Verge. Apparently the development lead got lazy and didn’t deliver on Wraith Protocol. From what I understand, the Wraith Protocol is now available. So, although there really is no clear indication that this is a SCAM, there are some indicators to me PERSONALLY that this might be “less than desirable”.
Conclusion, This might be a legit way to mine, my mind is just kind of blurred on why SpaceMining.io would not put together a better marketing and publicity plan. After all, people like me will look for this information before handing over money.
This is my personal opinion, if anyone has further information on this topic, please share it so we can all be more aware.