The new beta version is ready. It is mostly a bugfix release, the more significant upgrades are coming next month. You can download PhoenixMiner 6.0a from here:


PhoenixMiner_6.0a_Windows.zip
PhoenixMiner_6.0a_Linux.tar.gz


The new features in this release are:

• Full LHR disable mode -lhrdis <n>  1 - yes (default), 0 - no
• Show the GPU vendor name in the list of GPUs to make it easier to identify the GPUs
• Added support for the latest AMD Linux drivers 21.40.1. There are some bugs in these drivers, particularly the clocks and voltages can't be set properly with older
  cards (RX4x0/RX5x0/Vega/RadeonVII)
• Validated support for the latest AMD Windows drivers up to 21.11.2
• Fixed issues with AMD RX6700XT cards with the latest AMD and Linux drivers
• Fixed issues with AMD Vega and Radeon VII cards on latest Windows and Linux drivers
• Fixed crash with very old Nvidia drivers (3xx.x)
• Other fixes and small improvements

The updated list of known issues (driver incompatibilities, etc.) and workarounds:
AMD Linux driver 21.40.1 has a bug preventing proper setting of clocks and voltages on older cards (RX4x0/RX5x0/Vega/RadeonVII). Given that these drivers are also
usually slower than the older drivers for these cards, we recommend using Linux drivers 20.30 for anything older than RX6000 series.
If you are using Linux drivers 21.40.1 with Radeon VII cards, you need to add the option -fpwm 1 in order to have proper fan control.
AMD Linux drivers 21.40.1 has finally removed the requirement of PCIe atomics but there are problems when you try to mix Polaris (RX4x0/5x0) cards and Vega or newer
cards on the same rig.
Some Nvidia cards will report a lot of stale shares under Windows 11. Using the same driver version under Windows 10 resolves the issue.

Hi,

I couldnt find the referral program anywhere on the website. Could you provide me the exact link.

Thanks

http[Suspicious link removed]cution of fraud coin is good. I feel he might even pull it off for another 6 months. What say people???

Another scam coin to keep the scam of GB running.

https://medium.com/bitcoingrowthfund/mcap-the-new-buzz-in-the-cryptocurrency-world-ede41a656bd9

MCap launched in Thailand by Amit Bhardwaj to replace payments in BTC with this junk.

Mr. Bhardwaj Getting desperate : Update on members panel on gain website
REGARDING PAYOUT

Dear Team Members,

This is to inform you that from our side we have released the payout completely and after analysing we found following issues:
- 80-85% people have received complete 50% payout as promised
- 10-15% people have received 25%-50% of due amount because to a small glitch in payout sending as we have clubbed the payout of ID's with same BTC address

Based on above data I have a couple of questions to ask people based on the messages I see in groups:
1. When we are working on improving the website and release the payouts why is everybody just ignoring that fact?
2. It will take a couple of cycles for us to get back 100% on track, so please please please have patience & help us reach our goal of fulfilling the promise! Your every single negative comment make every other people on group uncomfortable
3. I would request for once to the people who have got their payout to come forward and comment on groups and show how much we have paid out.

Solution & Next Steps:
-----------------------------------
1. We need some time to identify all the miss sent entries and should be able to clear all payouts in next 1-2 days only, but please don't spread unnecessary fear and confusion
2. If you have your details of ID getting 25% payout (Only these ids) please do send the same to help@gainbitcoin.com with subject: 25% payout issue
3. For any other confusion please reach up-lines and me directly on Whatsapp, I am right here.

BUT PLEASE FOR GOD SAKE GIVE US SOME TIME OF COUPLE OF CYCLES TO SETTLE DOWN EVERYTHING & STOP PUTTING NEGATIVE MESSAGE! IF SOMEONE STILL FEEL DEJECTED CAN MESSAGE ME DIRECTLY ON WHATSAPP(NUMBER REMOVED) & I PROMISE I WILL REPLY, JUST TRY AND AVOID WASTING TIME ON VERY SMALL ISSUES!

Regards,
Team GainBitcoin

LATEST UPDATE FOR GB WEBSITE

Dear Users,

There are three major concerns we are struggling right now to adhere to and make sure all our customers are conveniently using the system, as below:
- Hard fork of Bitcoin
- Payout standardization
- Legality of Bitcoin in India

To cover all the above issues, and to make sure that our investors interest is kept at the highest level we have come up with the following solutions effective from 25th March.

Extending Altcoin mining:


As seen in the last few weeks, state of bitcoin is continuously in change and the market dynamics also is very volatile in terms of price. To make sure that our customers do not face losses and to hedge the risk of our customers we are extending our mining setup into Altcoin mining, the order has been placed and mining will start by end of April.
We are starting with multiple coin mining like ETH, XMR, Dash and few more.

Universal Digital Tokens


To accommodate mining of multiple coins we are creating Universal Digital Tokens exchangeable across all major Altcoin exchanges to the coin of your choice.
The token value will be derived based on the current price of coins we are mining.
Changes in the system:
1. Repurchase of new cloud contracts from payout balance is LIVE activated on 23 rd March.
2. Admin Fee of 10% is levied on total payout applicable from current payout cycle.
3. Payout will now be delivered as 50% in BTC and 50% in new Digital Tokens.
4. The Launch and exchangeability of New Digital Tokens and mining farm setup is expected before May 30th we will update the dates very soon.
Benefits:
• Helps to extend the longevity of Gainbitcoin system.
• Standardization of payout.
• Hedge customer’s benefits against the overall market risk.
• We are confident as we have produced upto 3-4 X returns to our customers till date with these new updates, we will out perform ourselves with extreme prejudice.
• These updates will help us keep a strong vigil on legality of bitcoin in India and we will be able to switchover to the most appropriate option based on the situation.

For any feedbacks or suggestions please email us at: gbcfeedbacks@gmail.com

Regards,
Team GB

APDV that time has come. If you are an investor and have not received your payout it is my advise that FIR should be filed ASAP.

The top brass are scammers and will look for alternative sources as soon as the ship they are sailing in starts sinking. And GB is sinking fast, 2 payouts have been delayed and are being further delayed on one pretext or another.

Another Gainbitcoin in the making www.kryptonation.com . Many top people of GB have moved to this new scam now. India has become a hotbed of scams like these and there is nothing we can do about it.

Are people stark raving mad for accepting the BS being fed by the GainBitcoin grapevine called MLM?

Transaction Fees totalling 1000 BTC per day? This calculation given by bpanther has just been edited and removed because this is the BS being fed in the GB MLM grapevine.

https://en.bitcoin.it/wiki/Transaction_fees

GAINBITCOIN WILL WORK TILL THE DAY INCOMING MONEY IS MORE THAN THE OUTGOING MONEY. PERIOD. The day Amit Bhardwaj feels that the incoming is slowing down and the outgoing has reached a peak, you will not even know where to find him, forget getting your REGULAR RETURNS , you will have lost your investments also.

7 Lakh people lost their money in Hash Ocean scam, I dont know how many more will lose here before some sense prevails.

FOR BPANTHER (AFTER YOUR REMOVAL FOR TRANSACTION FEES OF 1000 BTC CALCULATION)

As per your calculation, GBMiners is making 2700BTC in mining profits per month. Right?? This is 10% of 27000 BTC. Right?

So as per this calculation, GainBitcoin can pay people only upto contracts worth 27000 BTC. Right?

As per their member backoffice, contracts sold in the last 90 days are worth more than 50000 BTC.

By what logic are they gonna pay off everyone with 2700 BTC??

ALERT

The request refund section has stopped working on their website. One user got the following message when he asked for refund :

Dear Users,
 
Due to high influx in refund request because of speeding price hike of bitcoin we are unable to process your request right now unless price comes to a stable value.
 
Sorry for the inconvenience!
 
Regards,
Team GainBitcoin

Dear Friends,

The talk here is centered around whether mining is profitable or not, which I think tmfp has answered wonderfully with all his calculations.

I would add another perspective to this calculation as to if you invest 1BTC into GainBitcoin, what purportedly happens to the money and what really happens to the money.

When you invest 1 BTC in GainBitcoin, as per their commitments and your understanding you are buying hashing power in their cloud mining operation. As they are taking money from you they will be investing the same in new hardware which will increase their overall hashing power.

What really happens is as under :

Lets say you invest 1BTC to buy hashing power.

The person who sponsors you gets an immediate incentive of 5% of the amount invested i.e. .05 BTC

The network of people above you also gets incentives on the investments made by you to the tune of 10% on matching of investments in their left and right networks, translating to around 40% of the invested amount being distributed as incentives. So in this case, .4BTC is distributed as binary incentive to the network above you.

Add to this the lucrative awards given out for enrolling more and more people which would add around .1BTC to the amounts paid out approximately.

And assuming a 10% profit for Mr. Bhardwaj and his team (as I sure is working for profits) .1 BTC can be safely calculated as that.

So now the amount left out to buy the so called high end mining equipment is as under :

Amount invested        1 BTC
Given to sponsor     -  0.05 BTC
Given to network    -  0.40 BTC
Rewards                -   0.10 BTC
Profit                     -   0.10.BTC
                            ---------------
Balance left                0.35 BTC
                            ---------------

So in effect 65% of your so called investment is paid out as incentives and profits to the network.

I am not an expert in mining, so would require help from the experienced users here, can this amount be enough to promise the hashing power whereas you have already proven beyond doubt that even 1BTC cannot generate the % returns promised.

Why are there no complaints??

The simple reason is that the incoming is still more than the outgoing. The day the same is reversed, Amit Bhardwaj (who has already shifted his base to Dubai in a smart move) will be no where to be found and you will be sitting with a dead e-contract promising you 10% mining returns on non-existent hardware.

Another Calculation to prove GainBitcoin is a scam

Lets assume that they are a legitimate company who have every intention of paying you your returns at the % promised.

The last 3 months sales of Gainbitcoin in terms of BTC invested are as under (Data available on their dashboard in members area) :

December 2016  21474.2 BTC
November 2016  22640.9 BTC
October 2016     15298.5 BTC
                         --------------
TOTAL                59413.6 BTC

Now as per their commitment, they have to pay out 5941.36 BTC as mining outputs i.e. 10% of the amount invested for the next 18 months.

That means they should mine at least 198.045 BTC daily to payout the people who have invested 59413.6 BTC.

Total BTC mined in a day in the world are 1800. So to actually payout the people who have invested in the last 3 months, GainBitcoin should be mining at least
11% of the world's bitcoin mining per day.

We all know that is not true. So GainBitcoin is nothing but a Ponzi which will implode at the first instance of the inflows being less than the outflows.

Hope this helps to stop you from being scammed.

Thanks

In India, people in north India generally use Kumar as a middle name so his name could be Amit Kumar Bhardwaj which may be used as Amit Kumar or Amit Bhardwaj.

As regards to the amounts of money that they have collected, my guesstimate would be not less than 500 crore rupees till date. If you see the transactions in the wallet ID given in this thread, it shows BTC being transferred to a lot of accounts on a bi-monthly basis i.e. on 6th and 21st of every month. This gives a hint as to the amounts being siphoned off by them.

Hope some authorities take notice soon and takes action against Gainbitcoin and various other similar companies who are running amok with people's money.