Now that HashOcean has left the Bitcoin cloud mining scene- and a lot of user funds with it – people are looking for new alternatives. Interestingly enough, they are not looking for the services they know will pay over an extended period of time. Bitcoin cloud mining is not about a quick ROI, as it can take up to a year or more to break even. However, Coince is promising people the moon and the stars, and they are attracting investors.
Coince – A Risky Investment At Best
Before we go further, it is important to note Coince has been paying out [most of] its users for quite some time now. However, that doesn’t make the company more or less legitimate than others. HashOcean paid out users for nearly a full year before going tits up as well. Coince is also actively marketing their services on a wide variety of platforms, all in an effort to make them appear more legitimate.
It is also important to distinguish between Coince and HashOcean. The latter was focused solely on Bitcoin cloud mining, which is always a risky business. Coince, on the other hand, positions itself as a Bitcoin investment company. While this may sound a lot more promising, they are effectively in the cloud mining industry as well.
So what do users get when signing up for the Coince investment package? First of all, there is a 60-day Bitcoin cloud mining contract, although there is still an electricity cost to take into account. The company also promises guaranteed returns, which is quite a bold claim. Plus, investors are promised a 3% return on their investment every single day. For a 60-day contract, that would mean a 180% return.
Now that the Bitcoin halving has taken place, it will be interesting to see how this company justifies a steady 3% daily return. Any legitimate company will see the mining rewards drop significantly, and it is simply not possible to pay out the same amount every single day. Moreover, maintaining the rates for a 25 BTC block reward of a 12.5BTC block reward make things look very fishy, to say the least.
So far, it is also difficult to find any credible feedback about the Coince platform. The only proof of payouts is hosted on their website – without transaction IDs – and no reputable members are getting paid by the look of things. Just looking at the Bitcointalk forum goes to show only “newbie” accounts are posting proof of payment. Plus, most of the payment proof are PerfectMoney transactions, as there seems to be very little Bitcoin action going on.
Invest in this company at your own risk. They may be paying for now, but that situation will not last indefinitely.
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You People are full of it how dare you claim Coince a scam. The company has been paying out daily for over three years now. Critics like yourself decide to give derogatory marks to a program they never stepped foot in. For everybody else with a optimistic attitude walk in stride and keep your head above clouds and you will find success.
coince is a scam just like hashocean..sooner or later..it just does not make sense..
Well, say you invest 100 bucks. After 3 years, (18 periods of two month), u r the proud owner of 1.8^18. That makes 4 000 000 USD. Well can this be real?
I get paid from it. As long as i Make my investment back, everything else is gravy. There are hundreds of these companies out there. Go pick on one that isn’t paying.
Very poorly constructed article, lacking critical facts. There is no comparison between hash ocean and coince, one is cloud mining and the other HYIP, to my knowledge coince buys and resells energy. I’m not one to defend either cloud mining or HYIP’s, but you need to do a better job than this article.
Dear admin , coince is NOT a company who specializes in bitcoin cloud mining. They don’t care about halving or bitcoin price. All they do is sell electricity to the bitcoin miners. So this explains everything. And don’t say it’s a scam please , they pay daily , i have had many withdrawals. Nothing bad to report
THE BEST WAY TO GO AND JOIN BTCFUND.IS. FIRST KNOW ALL ABOUT IT UPTO THE END OF SINGLE DOUBT****THEN AND THEN ONLY JOIN YOURSELF FIRST AND THEN SHARE YOUR EXPRIENCES TO YOUR FRIENDS AND RELATIVES
If you invest/gamble in Coince you do not get your principle back at the end, so the first 33 days you are just being given your money back at 3% a day. It’s not profit like they say. It doesn’t cost them anything to do that. After that it’s all cream for the remaining time (total 60 days) you end up getting a profit at 3% a day till it reaches 80% of your original investment. Then it stops unless you reinvest some of your profits. But you’ll be playing with the house’s money at that point so who cares? Even if the thing is a ponzi it should continue for several months since it’s slow to give your money back & the profit is only 80% after 60 days. This is slow by many ponzi standards. lol Except for Genesis-mining & a few others most are ponzi’s. If you like to go to Las Vegas your money there is more at risk. HYIP’s are still very risky but if you only play highly advertised ones, very well written & programmed ones, & get in early your odds are much better than casinos. I heard some guy in Texas was put in prison for 40 months for creating a bitcoin ponzi recently. The players are never targeted legally.
Would like to chat with you private please Andrew. @hloniphanimz
bitcoinmasters@gmail.com
I invested $4,000 in coince and have thus far withdrawn $6,000 all within 60 days. I started pulling out money after the first month and within the next month, I was able to withdraw close to $6,000. I don’t doubt it may be sketchy but risk not, gain not, that’s called life. My story of coince is a success one.
The server no open. what happened with coince?
Yes coince might have been a scam now… and before 48 hrs since last withdrawal.. I don’t think they will pay
They do not pay anymore : i have a pending withdrawal since ONE week. And they did not reply anymore to my emails.
I think coince is broken and trapped ultimately the last mo rrons with 180% return in 10 days
I also have a pending withdrawal for more than a week… do you think there are chances to get paid? I see that in my balance account the sum of money keeps growing
Well, their first offer was 2% for 90 days, second was 3% for 60 days, and the last one was 18% for 10 days. If you feel confident with such figures, i am not
I have invested 100 USD in february, withdraw 260USD, knowing it was a ponzi scheme.
Now, they’ve gone, as expected, so do not expect to see your money back.
Hope you did not invested too much of your money, time and hopes.
This guy helped me recover some of my funds.. You can give him try @ hastingstag@gmail.com
why my withdraw still pending, after 30 days still pending.
I started Coince from march and since they paid me then I pushed in over $12000 into their 18% for 10 calender days my money is stock but am glad this guy mrkemzd1@gmail.com helped me recover 70% of my investment..Coince is now a SCAM
I will pay you $ 5,000 per month or even $ 10,000 a payment.
So I need new members to work, help me senior account manager, because I do not have much time to take care of customers. This is a job for the members hardworking and honest, it is not an opportunity for everyone.
if you are really interested, you can talk to me.
Mail: hyipben@gmail.com
Skype: hyipben
Thankyou !
Who is mrkemzd1@gmail.com??
As a test I put 20 bucks worth of Bitcoin into coince August 5th 2016, return after one month was 36 bucks, which is 80% by my math. On September 9th, requested withdraw, still pending. So after 10 days still pending, such a small sum and the site saying withdrawals take 36 hours, I have to claim this is definitely a scam. Actually, it’s VERY likely to be what we call a “select scam”. Where just enough people get payouts to sow confusion and keep the ponzi running. I also noticed that they significantly increased the buy-in ($500), to me that screams that they are running one last select.
If by some miracle I get the withdrawal I will post back. In all likelihood the only way that will happen is if they are reading these posts and try to make an excuse as to why it took over a week to process a tiny withdrawal. I recommend everyone stay well away from these crooks.
My recommendation would be for someone who lives in Britain to report these guys to whatever your version of a Competition Board or better business bureau is. Or whatever government agency in your country has teeth. Securities and exchange commission organizations would likely want to hear about this for sure. Maybe the local press too.
Good luck out there.
I still haven’t received a withdraw with the 18% program…It’s a scam…it’s been over a month.
waiting 4 weeks on withdraw, no answer, no bitcoins
Someone told me about him and he helped me out
Good call with this article, the #Coince Scam seems to have gone belly up today, their website is down and I’ve just met somebody who informed me that the withdrawal process was going really slowly before the site was completely taken down. Definitely not a good sign for Coincers, LOL!
Coince just like harshocean and powerful invest are all big scam. I tried mrkemzd1@gmail.com from the post of Stanley and he did helped out recover my lost investment from Coince. Though he charges fee but atlist he came through with my refund
Do you know how I get a refund?
Thanks Fred Hammond for your post. Mrkemzd1 was able to recover my lost fund on Coince about 7000$. He is really recovering fund. I told two of my friends with the same issue and they were also helped out
All thanks to mrkemzd1@gmail.com
Who help me out in recovering my lost fund on Coince .