Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest
⭐ Merited by buwaytress (1)
Are the info on the website incorrect? Am I simply missing something? Where is all their mining power? 
Some of it is quite out of date.
I had a question about the numbers posted on the Freebitco.in website about their mining operations.
It says they are running mining equipment that outputs them 9.065 PH/s. They also provide an address (1EcH7pHYTHLo3cbdXfkf6e6Zh5JzCPGumc) with a message and signature to provide proof that they indeed hold the keys to the address.
The signature checks out.
My problem is that if I check this address I find out that what they are pulling in (on only that address) is around 0.0002 BTC per day (~10$/day which is miniscule)!
That is way less than what 9 PH/s would get you!!
9 PH/s will get you around 0.055 BTC per day (~2000$)!
Also that number (9.065PH/s), I'm pretty sure, hasn't changed since they started offering interest in their wallet!
It says they are running mining equipment that outputs them 9.065 PH/s. They also provide an address (1EcH7pHYTHLo3cbdXfkf6e6Zh5JzCPGumc) with a message and signature to provide proof that they indeed hold the keys to the address.
The signature checks out.
My problem is that if I check this address I find out that what they are pulling in (on only that address) is around 0.0002 BTC per day (~10$/day which is miniscule)!
That is way less than what 9 PH/s would get you!!
9 PH/s will get you around 0.055 BTC per day (~2000$)!
Also that number (9.065PH/s), I'm pretty sure, hasn't changed since they started offering interest in their wallet!
We shut the mining down when the Bitcoin price was ~$5,000 because it had become uneconomical at the time. We'll remove it from the page.
To add on top of this, searching around in this forum I found a couple of addresses that they, in the past, have claimed they keep as cold storage.
(https://bitcointalk.org/index.php?topic=1922196.msg19285470#msg19285470)
(https://bitcointalk.org/index.php?topic=1922196.msg26492093#msg26492093)
Those address are now empty or mostly empty (94 BTC is 3M$ but their operations seems to be way bigger than that).
The address from which they are dealing out payouts (3LaNNTg87XjTtXAqs55WV5DyWASEZizCXZ) is currently holding "only" 19 BTC...
From their "STATS" page they say they are currently holding ~1300BTC total as "USERS SAVINGS". Where are they?
(https://bitcointalk.org/index.php?topic=1922196.msg19285470#msg19285470)
(https://bitcointalk.org/index.php?topic=1922196.msg26492093#msg26492093)
Those address are now empty or mostly empty (94 BTC is 3M$ but their operations seems to be way bigger than that).
The address from which they are dealing out payouts (3LaNNTg87XjTtXAqs55WV5DyWASEZizCXZ) is currently holding "only" 19 BTC...
From their "STATS" page they say they are currently holding ~1300BTC total as "USERS SAVINGS". Where are they?
The cold storage system was upgraded from Trezor to Ledger some time ago. The Ledger is an HD wallet so uses different change addresses each time so it is much more complex to show proof of funds.
3LaNNTg87XjTtXAqs55WV5DyWASEZizCXZ is one of our hot wallets we use for payouts. The other is 329koRvovTyNnd4ADrpR2uJHzXxfvKxta5.
When you deposit to us we sweep funds greater than 0.00050000 to 1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h
There is currently 229 BTC of dust deposits that haven't been swept.
That address then either funds the 2 payout hot wallets or send it to cold storage at 3CZM2Y6AqieFZE1RAbvXYi7hExx1zSb5R1
It is when that wallet is used to fund the hot wallets that the change addresses are used. (eg. https://btc.com/35e79400c98284bf52ea791dbefb6efe38b6d32d7353eab2a239a7ff7b2c17fe)
When we remove the proof of mining information we'll replace it with a new proof of funds address. Because the funds are spread of so many addresses we'll have to move all the coins to a single address to sign a message from. Then we'll repeat that process every 6 months to show we still have it. We should be able to get that information up at the begging of next month.