Admin: Created page with "'''BitHashMiner''' was a vaporware scam notorious for being very poorly executed and persisting carelessly. A single product was offered, also called a '''BitHashMiner''', whi..."

2019-04-14T07:49:18Z

Created page with "'''BitHashMiner''' was a vaporware scam notorious for being very poorly executed and persisting carelessly. A single product was offered, also called a '''BitHashMiner''', whi..."

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'''BitHashMiner''' was a vaporware scam notorious for being very poorly executed and persisting carelessly. A single product was offered, also called a '''BitHashMiner''', which was a preorder [[ASIC|mining rig]] with supernatural specs at an unrealistically low price. The scam has been labelled by onlookers as "thread gold", "hysterical", "the most blatant scam attempt", "the yoda sales force", "obvious scam", "mind blowing", and "half ass attempt to scam people". It is remembered as the most futile scam attempt in Bitcoin history and is used as a textbook example of vaporware, helping people identify scams on their own.

The scam was an unintentional exhibition of many warning signs and red flags that deterred potential victims.

==Hardware==
[[File:ext_38dKJsdjh_BitHashMiner.jpg|thumb|The hardware render used on [[BitcoinTalk]]]]
The 9 lb. rig itself featured 10 T[[hash/s]] for $1000, with 25 20nm [[ASIC]] chips. There is a screen on the miner depicting a [[CGMiner]] instance with two graphics cards [[Scrypt]] mining in late 2013. There are also two 750W power supplies, meaning that the casing, fans, and chips must have negative weight, and would be at risk of floating away without the power supplies weighing them down.

There was an enforced limit of two items per buyer,

The rigs were offered with free shipping and a five year warranty, and were expected to ship in April. By February 12, the [[BitcoinTalk]] account of BitHashMiner was inactive and the website was down; no units ever shipped. declaring that [[Taras]] and [[TheRealSteve]], prominent editors of the [[Bitcoin Wiki]], were "Big Gang Mafia" and that they had accepted "huge money" from [[EMIC]], [[HashCoins]] and [[Achilles Labs]] to keep their listings on the "[[Mining hardware comparison]]" page of the wiki, while removing other potential scams. In addition to Taras and TheRealSteve, and [[Luke-Jr]] as spammers.

Citing these accusations, new policies were added to the relevant areas of the wiki to bar units that have not shipped from being advertised. The claims of bribery were refuted as the mining hardware comparison page was poorly moderated and relatively obscure.

Later on February 5, a [[BitcoinTalk]] user posted a grateful message to all the users who had called BitHashMiner a scam, as he had been prepared to spend $7,000 on 7 units. He claimed that the money was very important to him, and his statement stands as proof that vaporware scams could be extremely profitable even when very poorly executed and that scam accusations are crucial.<ref name="trs"/>

==Source==

[http://bitcoin.it/ http://bitcoin.it/]
==See Also on BitcoinWiki==
* [[Green Power Exchange]]
* [[CargoConX]]
* [[Decentralized News Network]]
* [[RedCab]]
* [[Planport]]

BitHashMiner - Revision history

Admin: Created page with "'''BitHashMiner''' was a vaporware scam notorious for being very poorly executed and persisting carelessly. A single product was offered, also called a '''BitHashMiner''', whi..."