Category Archives: Make money online

Cointellect latest news and development

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I haven’t written much about Cointellect, and today I circled back to the chat room and various forums and blogs, including facebook social media to see what’s going on at cointellect.com

Turns out Cointellect is still running, and members that purchased contract during the month of January 2015 appears to get paid via Cryptopay. For those that purchased contract before January, you’re not getting paid at all, your funds held.

For those mining without buy contract, your earning will accumulate, you will not be able to withdraw, you can only use it to buy contract when you have enough money, a minimum of 99EUR. If you mine with a CPU or GPU most likely it will take you a very long time to get to 99EUR to buy the contract.

Basically only newer members that join and purchased contract will get paid. Old contract appears to be voided. A lot of people are loosing money, but appears that Cointellect willing to give refund on the different ROI, so let say you invest $100, but you only get paid $90, Cointellect said will give you $10 refund. Whatever money you have made doesn’t look like you will ever paid, you need to contact cointellect to get refund on the ROI, all old contracts voided. Only contract purchased begin of Jan still valid.

Swisscard? I haven’t seen any confirmation that people are getting the swisscard, except for that one picture indicate the person received the swiss card, but suspicious because receipt posted before Cointellect announcement swisscard, so something wrong there, could be another lie from cointellect.

The new contract appears to be have less earning than what the max said. So the 99EUR supposed to have max of 1.10EUR a day, but people are reporting a lot less, sometime half. Instead of 1.10EUR people are reporting 0.70 to 0.90 EUR the most they’re getting, not the 1.10EUR.

As I said before, transparencies are important, look like Cointellect have transparencies now, but I’m not sure if it’s enough to keep them from being called a ponzi scheme scam. The did lied in the past or at least they don’t really know what they’re doing.

So where did Bter.com hide the 7170 Bitcoin claimed got hacked?

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OK to the title to this blog entry isn’t funny, but honestly if we look at Bitcoin as non-regulated, then anything can happen and nobody can protect anybody, you’re on your own. However there are basic fundamental  steps that you can follow to protect your Bitcoin wallet  just like how you would protect your actual physical wallet. Would you leave it in plain site? would your have multiple people access to it?

What surprised me this time is that this is a cold wallet, meaning it’s not a live wallet connected to the internet for transactions. This cold wallet supposed to be off the network, or the internet, how does it get hacked? Here comes the conspiracy theory! Yeah sure, bter.com stolen the Bitcoin themselves and claimed it was hacked by hackers. Why would they do this? either to get more fame, to be more popular for a few days or weeks, and then all of a sudden back to business and put those bitcoin back to work but still claiming that hackers stolen those Bitcoins?

If this is true then very sad that Bitcoin have weak security or people just don’t care to protect their Bitcoin wallet with simple fundamental steps.

Now if we look at actual currencies USD, latest news indicated that $1 Billion stolen by hackers hacking about 100 banks, that’s a lot more than the amount of BTC claimed to got hacked over the years including MtGOX.

7170 BTC got stolen from our cold wallet in this transaction:

https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6

720 BTC bounty for chasing it back.

All wallets have been shut down and withdrawals of the unaffected coins will be arranged later.

BTER.com
Email:[email protected]
Phone:400-0070-955
QQ: 4000070955

Bitcoin GPU mining Finally paid off my Newegg credit card account with no interest

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During those days when Bitcoin price started to rise, I invested money in mining equipment specifically to mine Bitcoin. What other ways better than those GPU miner? Yep, I took advantage of the Newegg credit card with no interest for 12 months, and the 12 months was over today, my final payment of $250 to paid off done.

Yes, I did spent $3000 worth of GPU related mining equipment for a 12 months no interest. I split the monthly payment evenly to avoid interest and I made it. Each month $250 for 12 months. Now I got $250 a month spending power 🙂

It’s kind of cool that most credit card company allow you to buy things and pay monthly without interest for a year typically. I took advantage and I accomplished paying it, although I heard of many people couldn’t make the payment and in the end put themselves in further credit card debts. For me I did the calculation carefully, make sure I can afford it, and whatever it take to make that $250 a month, even if I have to work week end to make that $250 a month. Although during that time I was able to make more than $250 a month selling the bitcoin I mined.

Now a day, mining for are no longer profitable at this time. However people can continue mining, just make sure you can afford electricity by not selling any of your Bitcoin mined. Keep your Bitcoin safe, and maybe in the next 5 to 10 years it will rise to $1000 or more again.

Perk TV are very strict now a day in addition to lower points and videos streaming issue

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Just in case you are using Perk TV. Perk TV is an app for Android and IOS Apple iphone tablet for you to watch videos and performs certain task to earn points for gift card reward, such as Amazon gift card and Ebay. However recently the points earned has been decreased, and videos steaming has a lot of problems, and on top of that users account got cancelled even users haven’t done anything against the TOS.

Some say, PERK TV Farm are the people that are hurting Perk TV app business. Perk TV farm folks uses multiple accounts, multiple phones, hack tools and apps that can by pass phone, bypass watching video such Fast Forward and so on. Some think not. Perk farm people are following rules too. However many blame the points decreased of Perk TV farm people.

Now to the real problem with PERK TV. Video steaming problems. Some videos freeze and will force you reboot your device or force program to stop and restart. Some videos just in loading mode spinning circle and never load. If you don’t check your phone for these problems, your chances of earning any points is nothing, you will not earn much or any points if you encounter this problem all the time. Perk TV said they’ve upgraded their server, but performance appears to be the same, if not worse, we don’t really know if Perk TV upgraded their server.

Lastly there are rules and you must follow, Perk TV ways of detecting you’re not following rules, don’t think you can get away. You will flagged, and during reward redemption process is where Perk TV will cancel your account. The sad thing is they wait til the end when you redeem your gift card, your account got cancelled, so all your hard work for that $100 weeks and weeks gone with the wind, now that is mean. This is the reason many just request reward at very low balance, $5. Every $5 request reward right away. It’s better to loose $5 than $100 weeks and weeks of hard work. Once Perk TV cancelled, suspended, banned your account it’s pretty hard to get reinstated.

Here are a few things not to do. Never mix different internet connection such as your neighbor then your own or public wifi to access perk TV. Never add the 6th device. Never use Fast Forward or any cheats app for Perk TV. Phone # verification is questionable, some people said you can share one phone # for multiple account and will not get ding, however watch out for phone# that got cancelled on previous account, that might be flagged as well for cancellation.

So many good news about Bitcoin in the next coming years

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As more and more positive news on Bitcoin for the next coming years, hopefully it’s true that within the next 3 years Bitcoin will be widely adopted and use. However there are indeed bad news on Bitcoin as well, lets hope the good is greater than the bad. That’s the world we live in any ways, there are bad and there are good.

The latest positive news on Bitcoin is that “Larry Summers Likes the Idea of Bitcoin” This is the Silicon valley guy on economics and growth analyst people. If we have more people like him speaks positive about Bitcoin, will surely help Bitcoin stability and rise.

Off course we also have negative news about Bitcoin. The latest is that Hong Kong Bitcoin exchange firm or so call MyCoin disappeared indeed. Yes police report has been filed by many people. Since Bitcoin is not regulated, but there are rules and regulation in regard to its standard business. I’m sure the owner(s) and staff(s) will get caught and be brought to the court of law.

Tell Congress to Support Small Business Exports

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Only one thing I can say about this “tell your Members of Congress that you support new trade policies that open up markets and enable small U.S. businesses to grow and create jobs”

I’ve done business online, mostly being a freelancer. However lately I’ve done business on ebay selling anything from electronics to virtual currency such as Bitcoin and Dogecoins. Once in a while I do have international customers, but through the Ebay international shipping process, the transaction was smooth because Ebay took care of everything from there on to the international customers.

To help out everyone doing business online, including ebay. There are many associated fees already, and if there are more fees, and more rules to follow, many small business will fail miserably, so please support this action. If you receive a message asking to take by contacting your congress people to “tell your Members of Congress that you support new trade policies that open up markets and enable small U.S. businesses to grow and create jobs”

Dear Main Street Member,

Small businesses using the Internet to sell globally aren’t reaching their full export potential because a majority of the world’s trade laws were developed in a “pre-Internet” era and current policies make it difficult for many U.S. small businesses to sell internationally. For years, eBay Inc. has pushed policymakers to eliminate these artificial barriers to e-commerce, but now we need YOUR help.

Congress will soon debate changes to our nation’s trade policies that will affect small U.S. businesses. Click here to tell your Members of Congress that you support new trade policies that open up markets and enable small U.S. businesses to grow and create jobs.

Your involvement makes a difference.

Sincerely,

The eBay Inc. Government Relations Team

Will Bitcoin crashed again deeper with the news of Hong Kong bitcoin exchange disappeared?

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By now, you must have heard about the Bitcoin related Exchange in Hong Kong disappeared with half million or so people’s money. Somehow it is related to Bitcoin, or is it Bitcoin Exchange. This is the risk people know about Bitcoin, the unregulated virtual currencies, some now believe it’s really a ponzi scheme scam. NOT! I think not, I don’t think Bitcoin is a ponzi scheme scam. If it is then everyone else on earth is a scam then 🙂

Bitcoin had been in the negative side for over a year now, up a little, big crashed, up a little, big crashed, and kept on doing this for over a year already. Who can save Bitcoin?

Myself and many other Bitcoin enthusiast I’m sure would agreed that Bitcoin will never died, as long as there is one miner or one transaction or one wallet still exist, it will never died, and in fact today it’s next to impossible to get rid of Bitcoin because there are so many wallets already downloaded and active … I’m not going into the detail because I’m not an expert, but I’m sure you know what I mean on how Bitcoin was made and exist.

So with this news on the disappearance of Hong Kong Bitcoin Exchange or so call Mycoin should have cause Bitcoin price to tumble, but surprisingly Bitcoin maintain its $220 mark. What will happen in the next of days or weeks we don’t know. For sure what we know Mycoin Hong Kong Bitcoin disappeared according to the news.

So is Hong Kong Bitcoin Exchange Mycoin similar to Coinbase, Bitstamp and others? Yes, I think so. So if this happened in Hong Kong, can the same thing happen to Coinbase? Yes off course why not? But at least in Americas there are court of law. Will it happen to Coinbase? Yes possibly but for sure there will be some sign of it will fall apart before it will fall apart. What were the indication if any that Hong Kong based Bitcoin Mycoin closing? we could learn from this.

[SCAM} Disturbing responses from Cointellect to its members

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I came across many cointellect members receiving this similar respond below. What I got out reading this respond are:

  1. If you dispute with your Bank or Credit card bank about Cointelelct charges. Cointellect will fight your dispute any way it can to keep your money. Cointellect will use its term of service (TOS) to take your money. This is the reason I say, most will win, some may not, depend on how you word your dispute. However at the end of the day with many dispute against Cointellect, most likely Cointellect related entities will be flagged with Banks and credit cards as fraud scam will be blocked from further transactions. You may not get your money back, but at least Cointellect being flagged as suspicious, blocked as merchant transactions.
  2. Notice that Cointellect said, according to their Terms of Service (TOS), they do not guaranteed of profit or the amount your will earn as shown on the table. Therefore Cointellect will use that against you if you file dispute, contact authority, hire a lawyer or whatever, in addition to email to support request refund. However notice that Cointellect didn’t even make payout, sure profit not as much let say $3 a day down to 50 cent a day, but cointellect didn’t even pay 50 cent a day.
  3. In conclusion, what Cointellect said using the Terms of Service (TOS) against you I think is really “bullshit”. Because, if the profit was $3 daily when bitcoin was at $350 or so, now that bitcoin dropped to even $150, the loss in percentage is 50%, so your earning of $3, should be now at $1.50 should be paying out to members, but guess what? as you know over 3 weeks, nothing was paid, how is this Cointellect TOS uses against you, I find it hard to understand, the only way to make sense of this is indeed Cointellect is Ponzi Scheme Scam.

Our Risk Warning on our Terms of Service very clearly states that earnings are not guaranteed and investment in the contracts carries with it inherent risks. You can also see on our homepage and contract purchase page a very clear disclaimer that the numbers displayed as daily earnings are only estimates and are not guaranteed.
If you do not wish to wait until we solve our payment issues, it is your prerogative to file a charge back from your issuing bank, but we cannot cancel your purchase as it was done knowingly and you accepted the terms upon purchase. You are also free to make a report for the alleged crime, but we are confident that no theft was committed because you knowingly entered into a transaction with us despite the aforementioned risk warnings.
Best Regards, CoIntellect COO
cointellect | mining done right |

biggest ponzi scam online 2014 2015

biggest ponzi scam online 2014 2015

What’s going on at Cointellect what are the staff doing?

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First of all. The last message Cointellect posted on its official website cointellect.com was back in January 27, 2014. After that nothing was posted. The payout had been halted for few weeks now. Although some new members are reporting that they got paid a few times at the beginning.

Cointellect could have make this work by being transparent. What are Cointellect really doing, no one really knows. However I believe Cointellect started with the vision and prediction that Bitcoin will go up and or cannot go lower than $350 at the time. Unfortunately Bitcoin crashed down to $200 below $200 at one point, but regained back to $200 and been hovering barely between $200 to $230. Even with all the good news, no way Bitcoin will go up in the next couple years to even $500, however there had been community prediction that Bitcoin will go up to $1000 in 3 years, I’m optimistic.

Now if cointellect being transparent about where the money was invested to give back to the members then today there wouldn’t be so much bad negative reviews impact, and in no way in hell cointellect ever regain it’s reputation. No way! it is broken beyond repairable. Think of you car got, new, nice smooth ride daily commute broad you happiness an joy driving, then one day your car got wrecked beyond repairable, meaning it’s crushed – engine cracked in half ignite in fire, luckily you didn’t get killed. Now thing about that, can you repair that car like new again and expect same value if you are to sell it? I don’t think so. Same concept can be applied for happened to Cointellect. Cointellect is broken beyond repairable. Even if Cointellect is legit, but it’s so bad now not possible regain trust, as more and more un-professionalism being exposed.

If Cointellect members knowing at the beginning that Cointellect are investing in development of future technology for Bitcoin, or invest in low price Bitcoin and sell high, then at least the members knew and if Bitcoin crashed members invested in Cointellect can understand the situation. It’s all about transparencies but Cointellect isn’t talking telling what they’re doing with the money members giving to Cointellect.

Now for the Cointellect Mining Pool, no doubt that there was manipulation to the software such as lowering the difficulty level so the hash rate could earn a lot more than other normal mining pool. Cointellect mining pool is just a gimmick to get members in and see the earning, it’s like a trick, so members have the confident to buy contract assuming the profit is same with Mining Contract as mining pool, I mean 100 times higher profit or earning than any other pools, something wrong there.

Now just lately, a lot of members received respond from Cointellect, giving a refund. Well folks, for Credit card purchases, Cointellect will loose the dispute anyways so yeah they have to make it look legit so hope some members don’t dispute.

I can tell you this, based on my experiences with many previous large scale of ponzi scheme scam, such as Coingeneration, IPUservices, and a bunch of other HYIPs, the ending is the same. Some larger scale of ponzi scheme will tried to keep operation running as long as possible, this is to filter out dispute and at the same time giving old members some hope and new members to join getting paid consistently to get some more money in. It might work, and might not. Some users will fall for it, some may not.

The bottom line is, sadly it’s the users or members fault for loosing the money. Those that purchased Mining Contract via credit card, chances are you will get your money back. Those that paid via Bitcoin, don’t expect anything back. Forget about the gimmick of SwissCard debit card recharge payout, just another way of keeping hope up, Cointellect just killing time with those SwissCard whatever you call it, the process would takes weeks and months and in the end those cards get sent out, but Cointellect disappear from the internet. Cointellect is broken beyond repairable, all negative reviews and comments on the internet, it is not possible for Cointellect to regain confident and its reputation, no way!.

cointellec is broken beyong repairable

cointellec is broken beyong repairable

Is this the world largest Bitcoin mining operations?

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This is probably one of the biggest Bitcoin mining operations in the world. This one is in China, located in a perfect place where cheap power and cool climate for running these mining rigs.

This Bitcoin mining operation claimed to paid $80K (usd) in electric bill a month, and about 4000BTC mined monthly. So if you do the match, you will see that they’re in the profit, however we need to factor in the initial investments, and rent employees working there. Appears that these employees are being paid well. These employees must have computer skill, will train on maintenance of the Bitcoin miners.

At the current price of Bitcoin $230, this operation are making about $1 million dollars worth of Bitcoin monthly. Now imagine if the price of Bitcoin is at $1000, that’s very profit if Bitcoin price ever to go back up again to $1000.

I started mining Bitcoin with a computer, making a couple Bitcoin a day, and then the difficulty increased, so hard to make bitcoin, I had to abandon my computer and get many GPUs but still making less Bitcoin like 1 btc a week. Then ASIC came out and I had to abandon GPU and use ASIC. Then now with Bitcoin at $200, even with ASIC I’m not making any money to pay for electricity, and so I had to abandon ASIC also, and now just hold a few Bitcoin waiting for it to go back up hopefully at $1000 then I cash it out. Yes everyone is saying Bitcoin will be up over $1000 eventually, for sure not in the next couple of years, maybe 5 to 10 years. I think I can wait 🙂

http://www.coindesk.com/video-vice-tours-bitcoin-mine-china/

the world largest bitcoin mining operation in dalian china

the world largest bitcoin mining operation in dalian china