It's true that lot of people had made ROI from this ponzi and others too but you must understand, ROI from a ponzi doesn't make them legit. Only ponzi publish their payout details to make more people invest. For legit site, there is no need to. The their party site doesn't invest in all site, they only calculate. They run the site to get referral links not to help anyone.
Actually I have to disagree with the part I bolded, becasue that is not always the case. When we first launched our service we did not have a transactions page, we added because our investors requested it after we had already launched our site.
Can you show me mining address of cloudmining.website? Pool statistics? Picture of mining farm? Legit sites do provide mining address and payment proof to the persons who receive payment. They don't need to show payment proof to people who didn't invest. If people who didn't invest want to know, they can get it by exploring blockchain. Ponzis shows payment proof to attract more people to run their ponzi as long as possible and when many invest, mix the coins, send it to a new address and divide it between many addresses. If they are honest enough, they may tell "We're hacked!".
You don't know what is the meaning of legit, what is mining & how it is done and what is ponzi. If you don't even know basics, what more could I say?
POW Cloud Mining sites should have a first priority to post and show their customers proof of investment, this means step one in the building of the site should be a page that ahs a video or undeniable, non photoshopped images of the facility, a video is the best, or a simple list of receipts of the actual hardware they purchased that should be updated every time they purchase more hardware (which is what they should be doing. If any site refuses to provide undeniable proof of your investment you should not invest. It is your right to get it from them, and their responsibility to provide it.
A Ponzi is a scheme that uses new funds usually generated thru referrals to pay old members payouts, so the coins go in a big circle, they come in, a portion of them is paid to old investors for referral bonuses and payouts the rest are stored, and this goes on and on until the weekly payouts are bigger than the incoming investments, and this is when the site comes under a DDOS attack, and wallets were hacked, yet doesnt prove the attack happened, and makes a lot of empty promises and vanishes with a lot of BTC in profit.
payout addresses for Ponzis usually are self generated addresses using funds from the previous scam they did to get the transactions going to have instant proof of payment, The members in the beginning rarely exist and the payments are just being rerouted back to thier own wallets, you can catch a lot of them in the action if you follow the addresses that get the change, you will see the change address was also a payout address somewhere along the lines.
But bottom line Muhammed Zakir is certainly on the right track. So are we able to see some proof of mining power from here? becasue if they can not provide that wiht a click of a button, they most likely do not have it. and that makes them a scam.
