Fallout of Cointellect predicted by shibes communities

Needless to say, what I’ve blog before in regard to Cointellect. It appears that all over the internet that talks about Cointellect, now mostly negatives comments. One item I picked up is the Fallout article at reddit by Shibes communities. Basically Cointellect failure, but not too many people know. Some people were making good dogecoin for a couple months now when Cointellect first came out, however as it appears to be more transparent of like coingeneration, people are loosing faith. Cointellect isn’t doing much to fix payout problems and Mining Pool problems. It appears that Cointellect focussed on more on getting new investors than paying existing investors and miners.

When this Cointellect Fallout happens, people whom just got into Dogecoin will loose faith and probably never look back at Cryptocurrencies again, these are the new folks just got into Dogecoin Bitcoin. This will also make Shibes look very bad! it will be similar to the MtGOX situation. People invested in Cointellect Mining Contract are in the hundreds thousand dollars and perhaps even more, we don’t know at this point, only Cointellect have that number and probably they will never give that number out.

For people that invested to Cointellect Mining Contract, if no payout being make in full by next week, Credit Card purchased should contact their bank immediately and report the failure to provide goods and services to get your money back. People that invested using cryptocoins, your money Bitcoin is gone, nothing you can do about it. We don’t know who Cointellect people are, the pictures taken at Bitcoin Expo claimed to be Cointellect staff four people, we don’t really know them. Bitcoin Expo know them? I don’t think so either.

Bottom line, when this Cointellect Fallout happens, Shibes will look very bad! people will loose faith, negatives impact to Shibes Dogecoin value, and the whole cryptocoins communities in general. People are asking Cointellect to please fix the problem with payout and Mining Pool, otherwise this Fallout will happen very soon.



Cointelegraph interview Cointellect “we have never reneged on payments”

Cointelegraph interviewed Cointellect, based on an articled published on CT website. There are couple of questions that the community wanted to know: What happened to Cointellect Mining Pool, it’s up down, disconnected, all kind of problems mining, why is this question not being asked by CT?. The other question is Payout, which CT had asked and answered below. To me, and to be honest, I’m not going to lied, it’s bullshit respond. English is my second language and so I don’t know much vocabulary or wording that I’ve never come across, in this case Cointellect answered we never “reneged”, to me it’s a big word.

“Reneged” is “Fail to fulfill a promise or obligation” So Cointellect is saying they never failed to deliver payout? This is not totally true, Cointellect did admit to delay and other payout issues, but the delay reason doesn’t makes much sense. In addition to the fees in which Cointelegraph failed to question Cointellect, did CT even did thorough research before interviewing Cointellect? The fees of 20% has been ongoing, on top of the 20% fees there are payout backlog pending for days and weeks, and eventually all got cancelled and returned back to the balance, then members attempt to payout withdrawal again, and again pending for days, and with Paypal weeks cancelled suspended, with Cryptopay it’s limited to certain account. So Cointellect never failed to make payout huh? so if Cointellect continue to have issues with payout, they can say they never failed, just issue they cannot control for days, weeks and possibly months now?

Cointellect Mining Pool, Cointelegraph didn’t ask specific question to the pool operation. Cointelegraph really need to step up their research, there a lot more main keys issues that they need to focus on questioning Cointellect failed to do so. Cointellect Mining Pool hasn’t been working for a long long time, always problems disconnecting, not responding and so on and so forth, this started to happen when Bitcoin price dropped, isn’t that a coincident?


CT: You have received a lot of criticism late last year for reneging on payouts. How have you addressed (resolved) these issues?


HR: We first want to clarify that we have never reneged on payments. There were just some issues with delayed transactions due to the long holiday period where the volume of requests was more than we ever anticipated. Dogecoin is our primary method of withdrawal, with Paypal and Cryptopay as supplementary methods. As such, we have limits on these two methods that were unfortunately very quickly surpassed, which then resulted into unavoidable backlog. Please note that this is our first time to experience the holiday volume, but we will take the necessary steps to prevent the same situation in the years to come.

There is one comment responding to Cointelegraph articled that I find interesting. This person appears to know the organization behind Cointellect operation.

Badbitcoin.org • 8 hours ago
When Cointellect goes down We WILL say we told you so. There is NO EVIDENCE WHATSOEVER of any genuine mining by these People. Try getting an Interview with Mr A.A.P. the Cyprus CEO and real owner of this entire outfit.

[Payout problems] Cointellect struggling as more and more negative feedback

Over the past few weeks, to today, even after the appearance of Cointellect at Bitcoin Expo 2015 in Europe, still all negative comments about Cointellect popping up all over the internet websites, including many of Cointellect Facebook fan page, and there are a tons of them out there, I don’t know why they created so many or allow their affiliates to create so many, I guess it cannot be controlled.

If people are searching for information about Cointellect payout of earnings, or even about Cointellect alone will most likely landed on one of the facebook Cointellect page and will likely to see a lot of negative comments. It was different few weeks ago, but as payout and of earnings from members having problems, people are complaining they haven’t got paid for days and weeks, and got cancelled.

This is in addition to the Cointellect Mining Pool problems, it’s a separate big issue with Cointellect Mining Pool. The issue today is the earnings payout not happening. Cointellect have to admit that they lied about instant of Dogecoin, it was not and still not instant, it takes days and sometime got cancelled and restart and sometime back to the same problem.

So many problems now with Cointellect, but according to one of the Cointellect Facebook page so call COO are encountering negative comments as well, let see if those negatives comments will get deleted or will Cointellect struggle to resolve issue. I think it’s best that Cointellect should come out clean, be honest and transparent, admit that they do not have the funding to pay due to the falling price of Bitcoin, yes be honest like CEX.io. What Cointellect doing is lied, they knew they don’t have funding, but not being transparent since they’re hoping by being quiet they will continue to get investment flowing in.

Now if Cointellect have funding then those technical issue should have been resolved, not that hard to fix. Mining Pool, Payout Dogecoin, Payout Cryptopay, for Paypal it is true there is limit, but the other two shouldn’t be much problems.

Cointellect was indeed at Bitcoin Expo 2015 in Europe as sponsor

It’s real that Cointellect was there at the Bitcoin Expo 2015 in Europe as sponsor and have a small table setup appears to be sweat shirt or hoodie with Cointellect logo on it. Whether this is a quick setup and disappear or not, we don’t know, but the pictures appears genuine they’re trying to prove that they’re there.

Now if we look back Coingeneration.com they were there at the Bitcoin Expo also back in late 2013 or early 2014, with similar pictures, but the pictures from Coingeneration.com did not have any representatives, or anyone, it’s simply just a big poster set up that was it, and again we don’t know how long that sat there, maybe just a brief moment to have the picture taken. This is the picture below from Coingeneration.com, and just in case you don’t know Coingeneration was a ponzi scam, scammed hundreds thousands from investors, and nothing anyone can do about it, most investments were Bitcoins.

fake coingeneration attending bitcoin expo now cointellect doing the same?

fake coingeneration attending bitcoin expo now cointellect doing the same?

Now the pictures taken from Cointellect appears genuine, and it appears that they’re trying to prove that they’re there. However the table setup appears to be in an odd area, notice the white paper print black word Man Toilet. What we know is Cointellect was there. Indeed the pictures with four people, very nice professional dress, and looks very genuine people that wouldn’t scam any of us? NOT! 🙂 well it’s up to you to decide.


*** I respect people request, I just got a message asking to remove this photo, and so I did 🙂 Instead I just put a link to this photo directly to their facebook page. I’m kind of surprise that my tiny little blog has some attention. See message below request, is it a threat? ” request to the police” ? All you have to say is simply ask me to take it off, you don’t have to say ” request to the police”, why go after me when there are tons of community forums and big blogs out there cussing at you Cointellect, I just based on those information gathered. Why you spend time looking at my stupid blog when you have not responded to your members questions email support for over 5 days? Why don’t you fix Cointellect Mining Pool issues, Payout issues, and be honest with your answer about Cointellect statuses? If there are no problems, then why would I and many others writes about Cointellect …Anyhow, I respect individuals whom are honest and trying to make it work, I don’t think all Cointellect staff are bad people, but perhaps Cointellect will make some of the individual here look bad soon, if problems issues Cointellect Mining Pool and Payout not resolved soon.

Hello, i\’m one of the four people in the photo that you have uploaded i think today 25/01/2015.
In that photo we are the first two people start from the right side and we are only a Cointellct user, we don\’t be part of Cointellect team.
Please i don\’t like that you speak about Cointellect say that they are scammers with us in your photo…please remove ASAP the photo or i will send a formal request to the police for inappropriate use of our picture.
Thank you
Simone e Sara
PS: If you want use picture go to the bitcoin expo and take your pictures

Very good looking four individual, indeed much more professional than Coingeneration.com However it still concern me due to their business not really transparent on how they make money. Cointellect indeed have a mining pool, but it’s having so much problem. Whether or not they have a data center we don’t really know, but appears they do, but what’s in those cabinet? scrypt miners? don’t know.

What’s the latest with Cointellect?

First, the Cointellect Facebook guy appear to be very active, he’s more active than any of the Cointellect staff maybe, but perhaps he is Cointellect, who knows 🙂

Second, Cointellect Mining Pool still crappy, people are reporting earning dropped mining at Cointellect. Members mined at Cointellect Mining pool will notice cannot connect, rejected shares, not responding, waiting for work … The worst is you get disconnected and if you don’t check, your earning is zero until you check and reset it. Meaning it disconnected you totally and if you don’t check for a week, your earning on mining is zero for that whole week. Bottom line, Cointellect lied about Mining Done Right! it’s more like mining done wrong!

Payout Dogecoin, instant payout back? NOT, instant of Dogecoin payout has not been instant, for few weeks already, payout takes days sometime to complete, but the good news is they went through, for now 🙂 who knows that the future hold. Bottom line, Cointellect lied about instant Dogecoin withdrawal.

Payout Cryptopay? ER didn’t work either, now Cointellect limit cointellect to certain groups of users. Yeah make up rules as you go along, how’s that for a professional business huh? 🙂 Botton line, Cointellect done wrong again.

Payout Paypal? ERR don’t work either days, takes days, weeks, eventually cancelled. Liar liar your butt crack on fire! as one of the members said it in one of the forum. 🙂

Fees only Holiday? WRONG!!! fees only Week end? WRONG!!! How about fees everyday 20-30% of your earning! and Cointellect said if you do the match, you can still profit! LOL what a joke. If I do the math and I invest in $20 to get $25 back in 7 days, I will be loosing money with 20% fees. Oh wait! Cointellect meant to say invest in thousand of dollars for 6 months to 2 years contract then you can profit, and Cointellect said don’t worry they will still be around for long time LOL.

Enough LOL but since it’s Friday I want to release some stress. Stay tuned folks.

Making money online invest in HYIP how to tell when the program is ending

Throughout the years, I have invested in many HYIP in the past and I haven’t done much lately. What I learned was, most of the HYIP program online start out with payout to everyone consistently for a short period of time without any much marketing. It is by word of mouth referrals commission and so on. The operator are sometime monitors each individual account manually to see when the investors will stop investing or see if it’s from the same person and so on. For many other HYIP, it’s simply they’re watching their balance of in and out.

For most HYIP. If the IN is $10, and the out is $10, they will continue to operate normally. If the IN is $10 and the out is $15, they will start to make up stories such as having payout problems due to technical issue, bank issue, and so on, so that they can delay payout or payout in very small amount. If the IN is $10 and the out is $5, off course they’re profiting and at this stage they will plan a get away, meaning withdraw all the cash to their bank and at the same time making up stories for delay in paying whatever advantage they can take, even pay pennies to the investors just to keep them calm as their getaway plan is in progress.

How to tell if the HYIP is ending? – short answer is when you see the HYIP is very active, such as more promotion, increases in commission referrals, bonus payout, live chat live activities, and off course creating more websites and announcement of expanding its operations; basically whatever advantage available to get more investors going in during the last minutes. Paypal and Credit Card bank are just gimmicks. The real pocket money they will steal are from investors that paid by virtual currencies such as Bitcoin Dogecoin Cryptocoins EgoPay Money Perfect and so on, these are not traceable and only have one way transactions if from a non legitimate business.

There are projects similar to HYIP and bias people would right away call it a HYIP. However project goal is to really want it to work and longevity, but disaster could happen such as the falling of Bitcoin value will impact its operations, or the money from its investors were gambled and loss all, or the money was put in an unknown investment program to yield higher profit but failed, so as a result the project couldn’t make payout and had to abandoned. These projects are half HYIP and half new technology. If the technology failed, the program failed. If the technology succeed then the program skyrocketed.

Cointellect Mining Pool continue to have issues Not Responding Disconnected

This is no longer a surprise to anyone whom mine at Cointellect Mining Pool. Although no one really know what’s going on with Cointellect Mining Pool. Cointellect Minig Pool said they’re a multipool. When they first started the earning was incredible, the speed and reliability were awesome. However today, and many months back, Cointellect Mining Pool hasn’t been in sync with their slogon “Mining Done Right”, in fact many think they should change it to “Mining Done Wrong”

Cointellect Mining Pool has problems off and on and sometimes for days. If miners don’t pay attention for few hours, few days, those are the days that the members mining at Cointellect Mining Pool will not earn anything because your miner got disconnected from Cointellect Mining Pool.

Cointellect Mining Pool issues has been ongoing for for over a month. The most famous error message is “not responding” “waiting for work” “Rejected” “interrupted” … and most of the time your miner will just sit timed out and totally disconnected from mining, and your earned dropped to zero and if you don’t restart it, you earn nothing for those time.

So what’s going on? No one really know. What we know is the Cointellect Mining pool exist, but the earning was manipulated, you’ll making a lot more mining at Cointellect than any other Multipools for scypts. However it appears that when Cointellect need to limit earning from members, they would manually interrupted the Minig Pool so members can earn less or nothing at all for that duration of down time. Then Cointellect will publish messages they’re aware of the issue and will continue to fix it, but they mentioned that the contract mining is not affected, this is another way of asking the members to buy contract mining pool instead of mining it themselves. In other word, invest in this HYIP, since other HYIP is straight forward which most likely will fall apart quick, but cointellect can live longer and more investors with the strategies they have today.

Cointellect “Waiting to Executed” pending dogecoin payout + 20% fee

** update ** January 20th 2015. Dogecoin payout is not instant, not one hour, not two hours, over 12 hours passed, many members are reporting no payout went through. Most if not all dogecoin payout went into pending mode to be executed. Look like Cointellect is in trouble making payout EVEN WITH THE 20% fees implemented, not sure really what Cointellect are doing with people’s money contract investment. If these issue continue to exist, most likely Cointellect will shows its true face, just another HYIP taking advantage of the crypto currencies to lure people in to invest, when it run into trouble, it will try to operate with minimal payout to keep investor coming for a short while. People that purchase mining contract through Credit Card, better to prepare to contact Credit card company or bank to file a dispute. For those that invested using Bitcoin, you’re out of luck, your money is gone, however you can still help new investors whom consider to invest in cointellect, by reporting Cointellect as fraud, but let’s wait for the next couple days to see if anyone payout will go through.

** update ** confirmed dogecoin payout instant works but not really instant, could take some time. Continue to monitor activities from the chat room. The 20% is a killer, Cointellect could have done a better job just taking less than 10% some even mentione 2-5% max. For sure, Cointellect business is in trouble.

Look like the instant Dogecoin payout was instant for probably a brief moment. As of now many people saying Dogecoin payout withdrawal is no longer instant, all appears to be “Waiting to Executed” in other word, no longer paying instantly and no one know when instant will be back or if even Cointellect have enough funding to pay. This is on top of the 20% fees Cointellect already pocket from your earning.

Cointellect mining pools appears to have problems also connecting. So many problems with cointellect now. Not sure what the future look like for Cointellect over the next days and weeks if it will still exist.

Just to put things into perspective.

  • For mining: Your earning. Let say you earn $1 a day. Now will be 80 cent a day, but that’s if the Cointellect mining pool is up 100%. Most likely the pool will be off and on and sometime disconnected you the hole day if you’re not watching and so your earning could be zero. If mining up, most likely 50%, so your 80 cent a day will cut in half if you’re lucky 40 cent a day.
  • For investors, people whom purchased contact at Cointellect. You will be seeing 20% cut, simple as that, hopefully no funny stories Cointellect will announce to cut your money even further. So now you need to do some math. If your you invest 14EUR, and expect to get 14EUR back in 7 days? Well not really, you will be only getting 11EUR back, that’s right! it’s a loss.
    • Do the math. If you invest 99EUR, and expect to get 199EUR in 3 months? NO, wrong. You will be getting back 159EUR. Basically you’re loosing 20% overall earning, this is if Cointellect don’t manipulate your earning further. If they do, and you buy contract with your credit card? You better contact your bank to file fraud case. If many people does that, then Cointellect will be flagged as fraud and eventually will get shut down.

[Program Failing] Cointellect implemented permanent fees 20%

News officially published. All earnings will have 20% fees applied. If you try to withdraw $1, you will be paying 20 cent for fees, and you get is $0.80. If you try to withdraw $100, $20 will be the fees and all you get is $80. To many this is better than nothing or the program running away or closing.

I’ve blogged about this several days ago that Cointellect will take advantage of this, and using this method to operates. Too many people it can be understood. To others will most likely call this a SCAM.

Mining Sector and Comissions

Published at Jan 18, 2015 11:58:10 PM
A’Hoy Shibes,

As we continue to progress into the age of cryptocurrencies, it becomes more and more important to be aware of current events — particularly in the mining sector. In recent months, the mining landscape has slowly begun to see the effects of Bitcoin’s declining value.

As the price of Bitcoin continues to drop, mining becomes less profitable. While this problem currently seems to be largely exclusive to SHA-256, Scrypt coins have also been affected. CoIntellect has the benefit of hosting more than 80% of its resources in the cloud.

As you can imagine, Bitcoin’s dropping price has had a negative impact on companies throughout the industry — including ours. While we aren’t in any danger of closing our doors, we felt it necessary to shed some light on the motivation behind our current position and recent decisions to implement fees.


Until the price of Bitcoin returns to $320-$325, we will be enforcing the withdrawal commission on Dogecoin. While we continue to collaborate with CryptoPay to reach a service agreement, this commission will apply to all withdrawal methods. The commission will be lifted once an agreement is reached. We realize the inconvenience this poses to some of our users; unfortunately, this is the most practical solution currently available to us. This preventative measure will enable us to maintain liquidity and offer our services.

As mining continues to become more competitive, the future becomes quite challenging. However, it is without doubt that solo-mining will slowly become more of a niche hobby than a practical means to generate revenue. Fortunately, CoIntellect’s rocket ship has enough room to take everyone to the moon. With our lucrative pools and variety of contracts, we empower the solo-miner again and make it fun to generate revenue.

In the words of Shibetoshi Nakamato, turbulence is expected when flying to the moon.

CoIntellect Staff

[High fees for withdrawal earnings] Cointellect fees 20% for all withdrawal?

Cointellect doesn’t looks too good folks. According to other blogs and forums, including HYIP chat room, people are confirming the 20% fees on Cointellect now, it’s not longer no fees.

Today is Monday for many locations regions, including the so call office of Cointellect Northern Europe. It is Monday and the fees changed from Sunday commission 30% now to just “Commission 20%”. Meaning that the fees for Sunday 30% was removed then Cointellect replaced it with 20% fee for all withdrawal for business days.

This is bad, look like Cointellect is in trouble with all these problems and issue related to payout. There wasn’t any fees before, then Cointellect took advantage of Christmas and New year weeks to applied the 30% fees. Then after the Holiday Cointellect continue to applied fees for week end 20-30%. Then now fees for weekdays also Monday to Friday at 20% fees commission. Doesn’t look good. Hopefully the members voice their concern on this on all of the facebook related Cointellect asking about the fees now is permanent 20%?

If members of Cointellect keeps on sending email to support team the public community will not know what’s going on. It’s better to send email to support and at the same time post the issue on facebook Cointellect websites for people to see, and hope Cointellect don’t delete your facebook post due to issues that make their Cointellect look bad.

I will keep my eye open checking for issues reported by members. Stay tuned!.