The Miners, aka Miners Team Limited is a British company founded in 2016 according to the front page, and also in 2013 according to the FAQ page. Not a great start, so let’s look at what they do. The company effectively operates in the cryptocurrency market with an automatic platform suited for investment. OK, I’m not convinced, let’s move on.
Alright, now to the confusing part. This is a British company registered in the Virgin Islands, sure, I can believe that. Am I also to believe that this British company is also registered in Hong Kong using the same company number from Britain. The website then goes on to state that is in fact a modern Chinese company. Now correct me if I’m wrong, but China and Britain are two different countries, right? So, which is it? Well, who cares?
What isn’t confusing is that this is a bitcoin HYIP for you to invest bitcoin, and actual mining, or whatever, is not carried out at all. As such, remember the risks associated with HYIPs and if you are still unsure about The Miners, it’s probably best to read my basics page where you can find more information about bitcoin HYIPs.
|0.01||5%||10||50%||Insane||Yes, no fee|
The Miners have kept it nice and simple for us with a single investment plan which pays 5% daily. Given the other content issues on the site, I think this was a good decision. The plan is principal release at any time for no fee – as far as I can tell anyway – will update if I find out that there is one.
The site is bitcoin only and the minimum investment is 0.01 BTC. Profits are paid hourly into your account and you can withdraw from your account to your bitcoin address once it has reached the minimum withdrawal amount of 0.0001 BTC.
Another classic bitcoin HYIP, but this is a more modern version that pays slightly higher interest of 5%. The higher interest can make them more unstable, and hence this one carries a bit more risk. Also, if you factor in recent performance of HYIPs I would suggest only a moderate investment for medium term (15 to 20 days) or larger investment for short-term (7 to 10 days). I am favoring the short-term investment, and probably will aim for the 7 day mark, or a 35% return and then release. This could change as the HYIP progresses, so be sure to check my monitor and HYIP log below for more up-to-date information.
|Type||Details (if given)|
|Date Started||15th September 2016|
|Original Plans||1. 5% daily
|Hosting Location||Spijkenisse, South Holland, Netherlands|
|Company Address||6 Oban Street, London, E14 0HZ, UK|
|Registrar Details||Virgin Islands, 16th January 2016|
Quite honestly, the website is a bit of a mess, it has all the hallmarks of a rush job, with little effort put into checking content and design. The content contradicts itself on numerous occasions, and even the presentation video has contradictory information in it. However, it doesn’t really try to hard at the typical con-job of false stories and trying to trap the unwary. It’s pretty clear this is a HYIP. A bonus is that it functions as it should, and it would appear that all the information is available. It does stink a bit of BitExCon admin from a month ago which was a reasonable performer, but I can’t confirm that yet.
The following log displays information about The Miners HYIP as it progresses as well as information about my investments.
|15th September||Sign up and add initial investment.|
|16th September||Payment received, instant withdrawal. Alexa rank: 1,794,929
Add second deposit
|17th September||Payment received, instant withdrawal. Alexa rank: 888,878|
|18th September||Payment received, instant withdrawal. Alexa rank: 888,878|
|19th September||Payment received, instant withdrawal. Alexa rank: 577,741|
|20th September||Payment received, instant withdrawal. Alexa rank: 286,759|
|21st September||Payment received, instant withdrawal. Alexa rank: 246,147|
|22nd September||Payment received, instant withdrawal. Alexa rank: 217,831|
|23rd September||Payment received, instant withdrawal. Alexa rank: 204,106|
|24th September||Payment received, instant withdrawal. Alexa rank: 192,266|
|25th September||Payment received, instant withdrawal.|
|26th September||Payment pending, possible problem.
Change risk to red
|27th September||Payment still pending - scam|
Another HYIP that scammed early as predicted. It would appear that 10 to 15 days is about all that can be expected at this stage from HYIPs. My prediction of 7 to 10 days turned out to be reasonably accurate. Personally, I held my investment and was unable to withdraw any principal, so a 50% loss in this case.