Category Archives: cointellect.com

How many cointellect related websites are there going to be littering the internet?

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I came across a few comments about cointellect are in trouble, but the detail were not credible, so I will continue to analyze and do some investigative work.

At the moment, those facebook page that tied to cointellect once again not clearly credible as official cointellect business. A couple example:

Facebook page JoinCointellect, someone told me it’s official cointellect website. Well, today I saw some post in that page and found out the person whom created the site indicated he or she just a webmaster design. So the question is does that person work for Cointellect? What is the purpose of having that facebook site JoinCointellect ? to me it’s just littering the internet with Cointellect, blackhat method to hide legitimate comments about cointellect.

The second facebook page tied to Cointellect.Mining.Pool. The person whom created this site indicated he’s just an affiliate, at first people thought he’s a Cointellect staff, apparently not. Just another person trying to get people into Cointellect to get referrals commission.

When people visit one Cointellect social media site such as facebook, eventually that facebook site refer to another facebook site, and that new facebook site eventually refer to another cointellect facebook page. We don’t really know which facebook Cointellect is official. The only official page appears to be on cointellect.com domain.

Now back to a few issues, problems that cointellect have:

  • CryptoPay, it’s been one week not fix yet, what really is happening? Well today news published on one of the Cointellect facebook affiliate site indicating they’re still working on it. Sounds like Coingeneration.com isn’t it?
  • Dogecoin instant payout still working? – don’t know, it was working for 2 days last week, will find out tonight when people start requesting payout. Chances are people will not see instant payout, it will stay in pending again, and the reason Cointellect will say “due to high volume request” blah blah. Will see if this is true. Yes exactly what Coingeneration.com did.
  • Credit card purchase doesn’t appear to be working, or if it did, then just a few card types are accepted. Cointellect accept purchase through credit card will probably go away very soon. Eventually will be simply just cryptocoins investment, Bitcoin Dogecoin etc. which is not traceable, big risk of loosing it all just like cryptodouble that ran away with everyone’s investment last week and nothing anyone can do about it.

[Problem Payout] Will Cointellect be able to make payout today?

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According to many cointellect facebook page, including the official cointellect facebook page, people that tried to withdraw earning accepting the 30% fee still not able to withdraw any dogecoin, it went to pending just like last week.

The question remain, will Cointellect able to payout such large amount today. For many regions at the moment it’s Monday, and should be able to withdrawal earning without the 30% fee, but as many already confirmed, even with the 30% fee withdrawal of earning from cointellect didn’t process, it went into pending status for over 12 hours for many members as of now, so it’s not instant.

Cryptopay still does not work, and it’s been one week and counting. Cointellect posted the news about cryptopay will have it fix 2-3 days but it’s been one week and counting still not fixing the cryptopay payout option yet. Saying it’s an API problem, took this long to fix kind of strange, I wonder if anyone tried to contact Cryptopay yet to see if it was indeed API problem with Cointellect.

Paypal withdrawal got cancelled as many already have known, and if you requested through Paypal again, maybe it will say minimum 100EUR now instead of 50EUR min. So it went from 10EUR, to 50EUR, now to 100EUR? is the minimum withdrawal for paypal? Reason cointellect stated volume transaction quota exceeded.

Many members expressed their concern about Cointellect payout now, so many problems. If these payout problems continue, then the members of Cointellect would most likely point toward scam activities similar to Coingeneration.com On top of that Cointellect Mining Pool still have small issues with connecting problems, but for sure it was a lot better than a couple to few weeks ago.

Many members of Cointellect expressed hopes and the same time worries grows concern over the drop in Bitcoin value price at below $200 will impact cointellect. If indeed Cointellect invest in Bitcoin, if the value of Bitcoin dropped, don’t Cointellect get impacted? Just like CEX.io had to shut down it mining data center. Well ok, let not give Cointellect ideas on taking advantage of this reason and halt all payout to members, this would be sad and problem the end of the program…

Cointellect appears to be similar to Coingeneration in many ways

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Just to name one reason why Cointellect appears to be similar to Coingeneration day by day. Take the latest news for example. This news was published on the Dashboard when user click on Collect earning and Clicked on Cryptopay, the message appears as follow: “Please note that CryptoPay withdrawals will temporarily be disabled while the developers make some upgrades to their API. Withdrawals will be re-enabled within the next 2-3 days.” 

The message above was published on January 13th, and also appears in the official news area of cointellect news website. However today is January 17th, and that message is still there and Cryptopay don’t work. Way passed 3 days and Cointellect don’t care about not meeting deadline nor care about updating the members what going on. Appears to be a one man show, appears to be Coingeneration.com style.

Most likely, the Cryptopay problem was caused by Cointellect not having money to send to Cryptopay, so therefore withdrawal earning cannot be done. It is most likely not an API problem or anything like that, it was simply Cointellect have no funding to send to Cryptopay, and there is no way Cointellect can catch up with the funding payout for all the backlog of earning they need to pay. This is exactly what happened when Payza frozen Coingeneration.com account but released later but Coingeneration didn’t pay the members instead they kept it and ran away.

Part of the reason Cointellect no longer have money is because Bitcoin price dropped dramatically, and if they have real data center mining cryptocoins they would be in trouble not have money to pay for maintenance rent and electricity. If cointellect profit by the continue flow of new investment then they’re also in trouble, because people are investing much as this time due to Bitcoin crash. I will not be surprise if indeed Cointellect will come out being transparent and said due to bitcoin crashed they no longer have funding to pay for investors. Or Cointellect will simply stay low and continue on what they do best, most likely making up stories to delay payout, cannot pay, but will fulfill all payout at a later time which most likely will never happen.

Cointellect instant dogecoin payout indeed was back for many members but questionable

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So what’s going with Cointellect? Well first, the news published on Cointellect in regard to instant Dogecoin payout is back, is true, and many members confirmed with proof. However there is a problem with backlog payout requested.

The backlog of Cointellect payout requested via Dogecoin still in pending mode for days. Although Cointellect said that it will get processed, but it’s still pending. In the message published by Cointellect News indicated that these pending might get cancelled and be will get sent back to the members users account, so far that have not happened yet, still in pending.

The instant Dogecoin payout was great news for many cointellect members, some thought that it was the end of cointellect. Cointellect now have a lot of hiccup on payout earning and on mining poool, it is the reason causing concern for members users because it’s a similar scenarios to coingeneration.com which scammed members just few months into the program.

Cointellect can make this work by being consistent, but apparently they’re not. Cointellect can succeed if they don’t have problem with the mining pool. Cointellect can succeed if they don’t have problem with earning payout, and now something doesn’t seem quite right about the relationship between cointellect and cryptopay. Did cointellect ran out of fund EUR to deposit to cryptopay and thus causing the issue with withdrawing Bitcoin from cryptopay? or is it real problem with API, I don’t understand on how something was working before and nothing was change to cause to not working today.

Cointellect hasn’t been making payments for days and counting

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The news published by Cointellect are misleading, not to the point on reason why Payout cannot be made. Like many people know, at the beginning of any HYIP project, payout are fast and consistent. As time goes by, trouble emerges, this is the time to stop investing and pull out.

Many people hope that Cointellect is not the coingeneration.com. Coingeneration.com had done similar project which claimed itself as not HYIP, it is same as Cointellect today. However not within 6 months coingeneration.com fall apart and uses whatever advantage it can take to make up stories and delay payout for them to withdraw all the money to cash and ran away. That’s exactly what happened with coingeneration.com, and they started dgstock.com scam again, then started btc-o-matic.com also another scam again by coingeneration.com. Now cointellect, many people also speculated from the same scammers that ran coingernation.com, we don’t have proof, although the similarities are there.

People still have hope that cointellect is not another coingeneration.com scam, it appears to be at the moment because it cannot make payout. Most think because of the Bitcoin value dropped and cointellection are not making any profit to payout. Cointellect not being transparent about this financial difficulties on making payout, some speculate that cointellect are hoping for cryptocoins such as BTC to rise so they can make payout. If these assumption are true then cointellect is another HYIP similar to coingeneration.com except with real mining pool, although manipulated earning.

Don’t expect cointellect to live long, it will fall apart fast if Bitcoin price don’t go up to at least $320 anytime soon. Expect more stories to be published by cointellect given reasons why they cannot make payout. It’s becoming like coingeneration.com

 

Hashprofit is gone and so is your money

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As many people have already known, back in late December Hashprofit having problems with its websites and became transparent that their HYIP didn’t last long, and officially gone as of today since late December. This is before Bitcoin price today crashed to $100.

This is no surprise, since the price of Bitcoin just crashed to way below the time when it started rising back in 2013. There will be more business related to Cryptocoins in general, not just Bitcoin, will be closing. Some just disappear without a trace since they’re using anonymous or stolen identity to operate, and these are the ponzi scheme scam if someone really fall for it. Some larger business such as Exchange will give a reason and warning, asking users members to withdraw all their Bitcoin before closing down with specific date.

Hashprofit was among one ponzi scam that I talked about previously that don’t show much sign of straight ponzi scam, but it will be, and it did as we already known. Cointellect have similar business model to hashprofit, so the question is how long can Cointellect survive before they disappear? don’t know, just have to wait and see.

I highly recommend everyone to stop investing into any cryptocoins related investments as business might close suddenly or taking advantage of the crash of Bitcoin to pack up and disappear.

 

Many Cointellect members did not get paid doesn’t matter mining or contract mining

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This has been confirmed by many members of Cointellect. Whether you’re mining on Cointellect mining pool with CPU, ASIC, GPU, your own computer, or purchased a mining contract, you will noticed that you’re not getting paid. Your requested paying has been pending for 2 days and continue to stay on pending.

Cointellect published a news sort of explaining what happened, but it is no surprise that any business into cryptocurrencies are falling apart. Whether it’s a legitimate business or simply doing something extraordinary similar to HYIP, small or big, all get impacted by the crashed of Bitcoin down to $100s soon.

Let be fair. Let not just pick on Cointellect as example having difficulty running their business, although it’s probably not legit, HYIP to be exact, but other business a little bit more legit such as CEX.io Cloud mining had to shut down it’s operation, well brought it to a halt to be exact.

Cointellect.com hasn’t been making 100% payment, payment were selective, and relationship with cryptopay appears to be falling apart, payout via Paypal also got cancelled. Dogecoin payout pending for days and continuing. Most likely Cointellect will not be able to make any payout soon when Bitcoin hit $100s in a couple of days. Sad but this is reality now.

So what now? Everyone should be going out and get a real job! whether it’s working at mcDonald or Movie theater, it’s better than online. Although I’m sure many of us learned a lot from this experience of trying to make some money or make a living online, apparently it’s not working isn’t it? 🙂 Well that just my 2 cents. Will keep on blogging. Stay tuned.

Cointellect mining pool problems again but they’re not alone

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Many smaller mining pools already closed due to the falling price of Bitcoin, where the owner operator no longer making a profit. One of the biggest Cloud Mining Pool CEX.io closed or halted Clouding mining due to loosing profit because of the falling price of Bitcoin heading to $100 and CEX.io being transparent saying that the price of Bitcoin need to be at least $320 for it to continue Cloud Mining operation again. At least CEX.io appears to be transparent and honest about it.

With CEX.io closing its door on Cloud Mining purpose, we don’t really know what the future hold for CEX.io in general. Ghash.io is also with CEX.io same company that is. Ghash.io appears to be still up and running, but we don’t know how long because the pool profit based on % of fee transactions, but again with the falling price of Bitcoin that could ending ghash.io mining also.

It’s no surprise many small pools ran by individual already closed, website down, no longer existed. Bigger pool are struggling to pay its monthly maintenance. They’re paying via cash such as USD currency not Bitcoin or other cryptocoins that is why it is so hard to stay alive due to the falling price of bitcoin.

For Cointellect Mining Pool I’m very sure they’re struggling as well. Do not be surprise if Cointellect Mining Pool, including Cloud Mining Contract disappear because again due to the reason of falling price on Bitcoin, I’m sure they’re struggling as well how will they alive for the next weeks as Bitcoin price continue to fall below $100.

I’m not going to the detail of how Cointellect Mining Pool and Contract Mining work, although similarities exist with ponzi scheme activities on the mining contract, but I’m sure they’re struggling to stay alive too. The bottom line with Cointellect Mining Pool anyone whom are using it, do not get surprise if you can’t mine, can’t connect, get error, not responding, work rejected and so on, it is to profit loss due to the falling price of Bitcoin. Cointellect Mining Pool had to take action to prevent loss and hope for longevity. Cointellect not being transparent but many people like myself here can figure out that they too will struggling through this falling of Bitcoin price. For many that already invest lots of money with Cointellect mining contract, let’s hope cointellect can survive through this wave of bitcoin price falling apart, most likely will be below $100 soon. Wall street analyst indicated the price at this moment for Bitcoin should be around $140, but by the end of 2015 could be below $100, not likely that it will go up again anytime soon, sad but that’s reality of Bitcoin at the moment.

Hope for the next 10 years Bitcoin still exist, that’s all of us can hope for, not hoping it will reach $1000, but hope for existent of Bitcoin.

Cointellect Mining Pool for CPU GPU Asic miners back to normal?

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Short answer: YES, but not 100%, still have a lot of rejected shares, but are better than the last three weeks.

According to other blogs and forums I’ve read and Cointellect current members I’ve chat with, it appears that Cointellect Mining Pool is working better than three weeks ago, although there are a few rejected shares, let see how long Cointellect Mining Pool uptime this time. Hopefully the rejected shares weren’t done on purpose to discourage mining using your own computers GPU and ASIC, as stated, Cointellect want you to invest buying mining contract, not mining with your own equipment.

The thing I don’t get about Cointellect mining pool is, how is it different from mining with contract? Isn’t it from the same data center? Why members mining using their own equipment always have problems, while contract mining don’t have problem? isn’t clear that Cointellect causing the issue on purpose?

It’s Monday for most region Why Cointellect still have 30% fees?

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*** update *** just moment ago, people are reporting cointellect removed that Sunday 30% fee commission.

Cointellect started 20% fee on Friday night, to them it’s Saturday maybe in Europe. Then Saturday night, 30% fee (commission) enabled, and right now many regions are on Monday, and still the 30% commission fee still exist, is Cointellect cheating?

So what consider as weekdays for Cointellect? Monday to Friday? yes, but Cointellect don’t look at it this way, it appears that many members have 4 days of daily withdrawal of Dogecoin or no fees commission charge, not 5 days. Is cointellect cheating? not caring? or simply not understanding what weekdays are and weekend are?

By the way, I just want reiterate that the 20-30% fees for earning withdrawal at cointellect was mentioned to be for Holidays only, but then extended to Weekend earning withdrawal for less than 10EUR, then now extended for all withdrawal earning on Weekend don’t matter if you withdraw 10 cent or $100 EUR still 20-30% fee commission applied. Furthermore, cointellect weekend appears to be three days, not 2 days, started Friday night, and ended Monday morning? Does look good Cointellect, you’re not being a professional.