The 50 Shades of Bitcoin Mining and What to Learn as a Newbie Bitcoin Miner.
“Pay 100$ and get 1000 back,” Mr. David crypto-miner.”
My main reason to write this article is to share my adventure in entrepreneurship and share my experiences. Help others to avoid similar mistakes in the jungle of this world. In the meantime, I wanted to give you some bright moments too. It could be a flashback in time for some when the reader was in similar shoes at the beginning of his online journey.
One day, I was doing a job on FB, socializing, and suddenly a lady wrote to me after I commented on a get a rich quick offer. I knew that was about this lady was talking about something different, so we treated a conversation. That time I had no idea what I got into. So she told me a WhatsApp number to text the information about a profitable investment opportunity. I had to promise after I received my profit I would give her 10%. (What a nice person, trusts me like that!). I got long instructions really good offer, I would be stupid not to try 100$ and 2 days I may get 1000 back (obviously not) or lose the money. I’ll take the risk. – I heard the little noise in my head all the way, “It’s a scam! It’s a scam!”… But maybe It’s not! Let’s try. So I called Mr. David.
Lets’ Go Crypto, Mr. David!
PW: Hi, mMy name is Attila.
Mr. DAVID: Okay. It’s a pleasure connecting with you Attila. I am Mr. David from London, United Kingdom 🇬🇧
PW: It’s about bitcoin.
Mr. DAVID: Okay, Where are you located?
PW: Mallorca, Spain.
Mr. DAVID: Okay, that’s great. It is nice connecting with you.
PW: My pleasure.
PW: Can you tell me more about the offer, please?
Mr. DAVID: Okay. Do you know what bitcoins means?
PW: Yes, but never been in. Can we talk for a second? No answer.
Mr. DAVID: Okay, cool. Not a problem. We keep this conversation for some while. We can text here on WhatsApp (RED FLAG! If he was legit, why doesn’t he want to give information by phone???)
PW: Can we have a quick phone call? I want to know more about bitcoin.
Mr. DAVID: Okay. Do you already have a bitcoin wallet?
PW: I’m making it right now.
Mr. DAVID: Okay, get a blockchain wallet installed. Let me know once you get the blockchain and signed up. Okay?
Suddenly the Cbd business was on pause, Legendary promotion: pause, getting subscribers: pause, content creation, and all the real things were put on the side and I was trying to figure out what the heck crypto really is. Of course, everybody heard about bitcoin and litecoin, etc… But how do I get it, where to keep it, transfer it…?
pfff…
Trouble no. 1:
Crypto wallet: Identification. I need to identify myself to have a legal wallet that I can use freely. For that, You need a photo, a legal documentum, a mail address, sometimes a tax number… I have my driving license from England, a national id from Hungary, and I live in Mallorca, Spain. I have a residency card, but I was sitting in quarantine, jobless, fighting for my life, and was happy to have a place to be at that time. Official mail address? Mobile bill or gas. We are usually just being told by our landlord how much our electricity bill is and that’s it. I’m sure we are not the only ones trying to get their own utility bills” but the process gets really messy sometimes. It’s difficult to open an account for someone who is mostly on the road. I’ve registered about 5-6 platforms and finally, I found a mobile app that I was good enough for.
Trouble no. 2:
Now we need 100$ in bitcoin.
It started the same story as the wallet. Photos, ids coming and going, automatic mail reply with no reply warnings, and I was denied from everywhere. I found a site where I could register and met a very kind great guy who was willing to sell me the bitcoin at an ok price. I don’t need to mention that the payment process wasn’t smooth. After long hours of trying at the end, I had the 100$ worth of BTC in my crypto wallet!
He even sent me a paxful YT video about how to avoid scammers buying BTC.I got the blockchain wallet and transferred them to the BTC.
So here is the process:
The process of our mining is done through the help of our multiple s9 hardware (whatever that is) connected in series in our mining farm and it-reads the amount of bitcoin invested and-multiply them with a speed of 0.0020btcper hour that at the end of 48 hours you get 10 times the invested amounts.
Mr. DAVID: The mining system runs every 48 hours. Our investment to the company you earn 10 times the amount invested within a time frame of 48 hours. For example, if you can start with a minimum of $200 within a time frame of 48 hours you stand a chance of earning $2,500.
What a deal! If it takes 48 hours in one week I can do this 3 times…” WOW!
PW: That sounds nice, but suspicious isn’t it. (I’ve never gotten an answer to this question above…)
Mr. DAVID: The payout in 48 hours is 100% guaranteed. The mining process is being done only by bitcoins but you can receive profits in cash to your bank account
That sounds nice! How can You say NO?! After I deposited the 100$ to their account I got a message:
Mr. DAVID: Have you received any emails yet?
PW: Not yet
Mr. DAVID: Okay, check your mining account if your deposit has been funded for the mining. I got a mail from the company saying the system has been upgraded and the minimum has been changed that is why I asked if you got any mail from the company.
PW: Ok.
Mr. DAVID: Yeah, check your mining account after which you have done that check your email.
The next day I got an email that said I don’t have sufficient funds to start the mining process.
PW: It says I need an additional fund of 350$ – O-OOOH!
Mr. DAVID: The email?
PW: Yes
Mr. DAVID: Okay and was your first deposit funded
Mr. DAVID: Yeah, it says the minimum has been upgraded to $450 and you need to balance the trading before commencing the process and getting a profit of $5,000 I wasn’t aware of the upgrade it was completed an hour ago, and not long I got the notification of it updated is usually done once in a month when the system is reading slowly.
(This was a bit stinky. So what now? Leave the 100 or go with the original idea of trying to get the sweet profit? I still didn’t listen to the voice in my head…)
Mr. DAVID: You will have to buy the balance now on bitcoins and transfer to the company, like you did your first deposit so has to commence the mining process immediately
Of course, I went with it. I started the hustle again to get more BTC it took days and Mr. David was giving me advice on how to deal with my troubles on the way for example when one of the crypto broker platforms rejected my identification. Okay, then you can register with your wife’s details or friends and use their card to make a purchase from coin mama that’s also not a problem profit can still be sent to your account. He must be a professional… !). Then I thought I try to back up a bit.
PW: Could you please send me back the amount I’ve sent you.
Mr. DAVID: The payment is already attached to our mining system and can only be processed back to you with profit.
This is straight. So now no way to get my money back. However, I got some help.
Mr. DAVID: The only way I can help you in this is by you getting $200 in addition to your first deposit making your investment $300 and with that, you earn in 48 hours $3,500. I can only help with this if you can get the payment this week.
What a nice gesture! So, in the end, I got the money transferred and I just had to stay calm for 48 hours and be waiting for the mail from the company. After the first day, I got 1500$ already deposited on my balance on the company website, I was sure about the success. I was already in the future in my head. How I was gonna boost my website for that money, how to invest it. I knew it’s still not real until I had it on my bank account but it was exciting.
Finally, I got a message.
Trouble no. 3:
Hello 👋
Your mining has been successfully completed check email if you got any mail message from the company about the successful trade.
I got an email as well. It said I have 3500$ and 1000$ bonus. Wow, that’s cool! I’ve invested 300$ and got 4500 back in 2 days! Dolce Vita! But don’t be too happy too early! As I was reading the mail they wrote about a mining fee I’ve never heard before during the process. 15%, which is ok. 650 $. When You get a bonus of 1000, to pay 650 is ok I thought. I would pay for the profit!
Meanwhile…
Mr. DAVID: Nope, before you can be allowed to make any withdrawal from your account the company will have to approve you first by seeing the fees both with the passport for the verification
PW: So I have to find another 600…
Mr. DAVID: Yeah reply to the email you received from the company with your document
PW: Where do I have to transfer? Can it be a bank transfer or only BTC?
Mr. DAVID: Only BTC. You send to the company address which you have made your payment
PW: That’s gonna last days again. Ok, I’ll do my best.
Mr. DAVID: Okay, just keep updating me okay
Yes, sure. I started to get pissed off.
PW: Why don’t you just take it off of my profit.? When I have withdrawn it you can keep it back or I transfer it from my account to the company. I’ve already borrowed the last part of the deposit…
Mr. DAVID: No you can only be approved to withdraw from the account once the company confirmed your payment and the documents. You can take your time to gather the mining fees but it will normally take more than next week. It is a must, bitcoin miner should not send the fees back, after getting the profits. The policy was changed. Mining fees will have to be received first, before approving any withdrawal from the account.
PW: That’s why it would be better for everyone, to just remove it by the company straight or keep it back when the mining is finished. Now, the whole thing is stuck. I can’t access my investment and can’t continue with the business. I wasn’t informed about it at the beginning. I was told to put 300 and get 3500 back in 2 days, no expenses whatsoever. If I knew that I would need another 675 at the end, I wouldn’t have started it because you know what I went through to get the starter budget.
… Then I got a helping hand:
Yeah I do understand all you have told me, okay alright I will help you then it will be better this way only the way I can help you through if you can pay half the fees of €600 which is €300 half your Profit’s will be processed to your account once you receive that you can pay half the fees again which is the balance €300 to get the balance of your profits this can only work this way deducting of fees from trade account is against company policy if you can do this like I said I assured you of the successful transfer if you can do this get the payment tomorrow latest Friday and I will do has assured you now.
This is getting weirder… how is it possible to get such modifications with payment, but they don’t inform you about the full process and fees in advance just telling you when you need to put more money in… They were pulling the money slowly out of your pocket, but because you already put some in of course you don’t want to lose so you pay a bit more. (If you are not careful enough like I was).Then I got another message, how I’d been doing with the payment:
PW: I think the “company policy” should be updated to the legal way of doing business instead of the Nigerian scam scheme. As I said earlier, I’ve given You and your “company” my trust and openness, what I got back? Nothing. Now you have my 300 on your account and have no chance to get it back unless I risk losing 1000. If you are a legal company, you should communicate clearly about my expenses and not apply to be paying more to not lose what I’ve put in already. (And I’m not safe to not to lose everything) you haven’t given me anything which would keep me safe against a scam. A legal company would make me sure about my money is safe if I invest in you. You gave me nothing. If you disappear what can I do? Nothing. I have no money left, only debt because you promised me the profit and I had to borrow 200. I have nobody to go in asking for more money (Of course, it was not 100% true).
MR DAVID: Nothing is a scam you should stop using those words do have I have instructed. Do as instructed and you will get your profits sent to you and it would be within now to Tuesday told you it should be yesterday/ today now you lost the chance so it has to be from now to Tuesday. Make the payment
… And so on. He has been texting me since Of course, I haven’t sent him more money and I’ve never found out what happened if I would send him the rest of the money but I’m pretty sure we all know. It was a crash-course of 300$ on crypto scams.
Clearly, I was naive and let my feelings drive me over my rational thinking. That inner voice all the while, telling me not to do it but I still do it. Next time it is also correct to listen to this voice when tells you something. I should put my attention to it because it helps me to go on the way I suppose to.
This was big but VERY educational. Slap on my face on my early journey.
There are so many distractions in this space, especially when you are a newbie, you can’t avoid getting in trouble sometimes, paying for the wrong person, course or product…
This one was the typical “shiny object syndrome”. Dave Sharpe talks about it all the time…
To decide what opportunity to take on or not, requires knowledge, proper research, looking for red flags, and information assessment. You can see above how I did it and I think this was a clear NOT THE WAY TO DO IT!
Since then I have tried to stay away from crypto. I need to stay focused on what I want to do, which is working on my website , develop my business and skillset to finally get my first sale!
The story is not over! In the next post, I will tell You about my next step, which was…
It would be fun to read about Your messes you’ve been through!
