Bitcoin Max Profit markets itself as a place where people can get Cloud Mining, whereby users pay funds for ‘hash power’ in a mining pool and earn returns over time. They also claim they use trading bots and provide daily payouts for customers.
Their prices range from $400 (Bronze), $4000 (Silver) and $6000 (Gold). There is zero information about who runs the site, or where they have registered the business. I would be very surprised if their business is registered anywhere.
Scams and cons come in all shapes and sizes, one method of bad practice is the ‘vote of confidence’. In this method, a business attempts associate itself with other reputable sources in the hopes to fool visitors into a sense of false confidence in the site.
Bitcoin Max Profit have taken it upon themselves to pretend that CCN and other popular media outlets have partnered with them.
It is fairly easy to copy/paste different businesses logos and claim you are in partnership with them. Not only is this dishonest and deceitful, it is illegal in some countries.
In the UK, such acts are covered by the Fraud Act 2006, Chapter 35, Section 2. In more detail this is represented as dishonestly makes a false representation, and intends, by making the representation, to make a gain for himself or another, or to cause loss to another or to expose another to a risk of loss.
And that a representation is false if it is untrue or misleading, and the person making it knows that it is, or might be, untrue or misleading. Even comparing to today’s average prices for bitcoin mining gear the prices offered by Bitcoin Max Profit seem abnormally high. Though at their fees they only need to scam a few people.
If you want to get a rough idea of average costs for various types of bitcoin mining gear, comparable over various business offerings then you can check Coinplorer.
Please make sure that you do your due diligence before investing in hashing power or mining hardware.
Last modified (UTC): April 29, 2015 09:05