It is not uncommon for Ponzi schemes to rise from the dead in the face of a rising trend, this time being cloud mining. Many a sites claiming to provide fixed returns, bonus mining powers such as Hashocean and Cointellect have had their shining days only to be called out later.
“Micro-BTC” is another such scheme that provides a bonus of 15KH/s to its new users and this alludes to the fact that it will mine altcoins instead of bitcoins.
A seamless stream of profits in the cryptocurrency world is an impossible feat and even the nature of those profits is rarely in a legalized manner. By default, any contract for cloud mining is operational only for a year or two. Thus, any entity offering an extension on that period is without doubt a scam.
Micro BTC Review
A long hard look at their proposed plans shows that users can purchase mining power for US$0.31KH/s to as low as US$0.23KH/s with a very dubious hashpower bonus sprinkled on top. That profitable cloud mining will happen is also questionable as the coins that users are mining are scrypt coins rather than some actual mining.
An amusing detail is how they include a live stream of their mining farm to support their credulity but even that is less than flimsy. Upon observation, it looks like a still image with no audio coming out of it whatsoever. The racks don’t look full as well as there are no indicative blinking lights which are always coming out of an active hardware. It’s quite obvious that they went to great lengths to prove their credence, but a close inspective look is enough to change one’s opinion about it. This is one of the main reason for doing a micro btc review.
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Is Micro BTC Legit?
A concept of profitable lifetime earnings and hashrate bonus doesn’t goes hand in hand with cloud mining and if a site is making such tall claims then it’s quite obvious that it is nothing more than a Ponzi scheme devised to rob its users of their deposits as well as their resources. No information on its payments to users is displayed on the site. Fishy? Do you think they are running a legitimate business? Is micro btc legit?
Although there is a mention of an affiliation program clicking on that link just leads to the homepage. It is another thing to build a forged website that still looks real and rips off its users.
But if the makers of the site aren’t willing to put that much effort into building their identity itself then there hangs a big question mark over the profitable returns that the site guarantees.
Final Thoughts – Micro BTC Review
No forwarding address of any kind is given on the site although the WHOIS registry suggests that is operates out of UK unless the entry is itself faked for a mere formality. Finitione, there exists no credible pillar on which an investor can lean upon and invest in the scheme and expect his balance to double.
Be warned, fellow investor, and invest smartly.