Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)

Three creative ways XTards are falsifying hash power in rent-a-hash and pay-per-hash schemes:

https://www.reddit.com/r/bitcoinxt/comments/3natjy/stepbystep_instructions_for_how_to_rent_hashing/

https://www.bigblockbounty.com/

https://cryptoplay.net/vote/

Making sure these spoofed votes are overwhelmingly non-indicative of hash power.

Proof-of-work is proof of work done. Unlike node count, it cannot be spoofed.

Miners (a) attempt to earn a profit with their hash power, and (b) express their acceptance of protocol rules by way they construct blocks and by the blocks upon which they mine. When a miner points his hash power at a pool, he forfeits (b). When a miner points his hash power at NiceHash (the hash renting service), he sells (b) to the highest bidder (who right now are people who want BIP101 blocks mined).

This is an example of a market becoming more efficient. If NiceHash didn't exists, some of those same people would eventually purchase physical hash power, resulting (eventually) in a similar outcome (https://en.wikipedia.org/wiki/Coase_theorem).

Cloud mining is a scam. You are promoting a scam that will lose people money in support of a project that is already on its deathbed.

This actually isn't cloud mining; it's a hash power market not unlike similar markets for electricity. I haven't used the service yet, and I've been hesitant for the reasons you say. However jtoomin from Toomin Bros. Mining (the group that has mined several of the recent BIP101 blocks) can see that NiceHash is indeed pointing the rented hash power at its pool. So it appears NiceHash indeed does what it claims to do.

Quote

Welcome to NiceHash, the most advanced crypto currency cloud mining, hash rental service and multipool.

I mean look at the fucking website, if that doesn't scream scam to you.............https://www.nicehash.com

They even have the token 5 $ fiverr motion graphic...