Mining or Scam? Hourly Mining Contracts Flood eBay
The auctions site eBay (NASDAQ:) is now hosting the new trend in crypto assets – the sale of small mining contracts. However, the nature of those deals raises questions, possibly pointing to a scam.
One of the deals promised the buyer to mine 0.25 (ETH) for the price of $125. Basically, the contract sold ETH at almost double the price of $213.05. The seller did not even need to mine, but just send ETH to the buyer.
There is also another type of contract, which does not guarantee the production of coins. Mining by nature does not guarantee rewards, and the eBay buyer may end up just paying and hoping for a fraction of a coin. Especially in the case of (BTC), where the hashrate is near peak levels at 79 EH/s.
The third type of contract also basically sells obscure coins for a relatively high price. In the case of Dogecoin (DOGE), the catch is that 100 DOGE will cost $0.58 to mine through the contract. Additionally, DOGE is not mined separately, it is produced as a part of (LTC) mining, one more r…
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