{"id":427,"date":"2017-03-04T03:14:22","date_gmt":"2017-03-04T03:14:22","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=427"},"modified":"2017-05-10T12:51:57","modified_gmt":"2017-05-10T12:51:57","slug":"soft-mining-review","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=427","title":{"rendered":"Soft-Mining — Review"},"content":{"rendered":"

This is \u00a0SCAM project already! Do not invest there anymore!<\/strong><\/p>\n

This is a difficult review for me to write from the point of view that I do not fully understand how the process of cloud mining of cryptocurrencies works.\u00a0 It is difficult enough for the layman to fathom the conventional process of cryptocurrency mining.\u00a0 In this conventional process, to make it profitable, very expensive computers having huge capacity are required.\u00a0 This, of course, implies a correspondingly huge start-up cost.\u00a0 But this is not all.\u00a0 To operate this equipment, extremely large amounts of power are required.\u00a0 And, this is also expensive.\u00a0 One such large scale mining operation that I am aware of (and that appears to be a real operation) is based in Iceland where all power is from renewable energy sources and is comparatively cheap.\u00a0 This operation is so huge that the computers physically occupy a fair sized building.\u00a0 You can imagine the costs associated with such an operation.<\/p>\n

Concerning cloud mining, I get the impression that a lot of this expense is eliminated by the operator somehow getting access to a pool of such large computer facilities from a remote location.\u00a0 If I have this right, it obviously eliminates the costs of both hardware acquisition, electricity, and probably other factors that I am not aware of.\u00a0 Soft-Mining<\/a> claims to have such a pool with hardware located in England, the United States, Germany, France, Myanmar (Burma), and Taiwan.\u00a0 But, this is only my take on how all this goes together.\u00a0 A nice addition to the website would be a clearly written explanation of the cloud mining process that a layman such as me could understand.<\/p>\n

Soft mining appears to be a synonym for cloud mining and, obviously, this is what the company, Soft-Mining<\/a>, is all about.\u00a0 Incorporated in late 2016 in England, they claim to be very successful at this approach to cryptocurrency mining and are now inviting investors to share in their success.\u00a0 Investments made will, in turn, enable the company to scale up their operations and add to their already successful cloud mining venture.<\/p>\n

Soft-Mining<\/a> offers three investment plans.\u00a0 All are \u201cperpetual\u201d meaning that their terms are infinite; your investment will continue to earn for you for the life of the company — and, naturally, you will hope that this is a very long time!\u00a0 All of them pay interest on a daily basis, seven days per week, and, the greater your investment, the greater your earnings.\u00a0 That\u2019s the difference between the plans.\u00a0 Here is a summary of the three programs:<\/p>\n

MH\/S\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $10 – $500\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Interest = 0.95%<\/p>\n

GH\/S\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $502 – $1,500\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Interest = 1.05%<\/p>\n

PH\/S\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $1,501 and greater\u00a0\u00a0\u00a0\u00a0 Interest = 1.25%<\/p>\n

As far as HYIPs go, the interest rates are fairly low.\u00a0 I don\u2019t think this is particularly bad as it keeps the company\u2019s expenses under control and increases the likelihood that Soft-Mining<\/a> will be one of the few HYIPs that will be around for a long time.\u00a0 But, these are definitely long term plans and you will have to wait a while before you break even.\u00a0 I would also note that Soft-Mining<\/a> has purchased a \u201cSticky\u201d listing in the Emily News<\/em> monitor.\u00a0 This represents a further commitment of the company to a long-term presence online.<\/p>\n

Well, exactly how long will it take for you to break even with each of these plans?\u00a0 Let\u2019s do a few calculations to find out.<\/p>\n

For a $100 investment in the MH\/S plan, you would earn $0.95 (100 x .95) per day.\u00a0 So, it would take you 106 (100\/95) days to break even, somewhat over three months\u00a0 Of course, this breakeven point applies to any investment in the MH\/S plan.<\/p>\n

For a $1,000 investment in the GH\/S plan, you would earn $10.50 (1,000 x .0105) per day.\u00a0 So, in this case, it would take you 96 (1,000\/10.5) days to break even, still around three months.\u00a0 Again, this breakeven point would apply to any investment in this plan.<\/p>\n

Finally, for, say, a $2,000 investment in the PH\/S plan, you would earn $25 (2,000 x .0125) per day and you would break even in 80 (2,000\/25) days, now a little less than our three months.<\/p>\n

So, to repeat, as far as HYIPs go, these are all definitely long term investment plans.\u00a0 And, again, this is not necessarily bad as it increases the probability that the company will survive in the long term.\u00a0 I also note that, since Soft-Mining<\/a> is not returning your investment, it is relieved of this financial burden as well, still another factor that might improve the survivability of the program.<\/p>\n

Soft-Mining<\/a> accepts two payment processors, Bitcoin and Perfect Money, right now and, based on the way the user\u2019s account area is set up, they intend to add more.\u00a0 As the descriptions of the programs above implies, the maximum deposit is unlimited.\u00a0 The minimum withdrawal is $5.\u00a0 In my opinion, this is a lot more sensible that the minimum withdrawals of $0.10 or even $0.01 promised by some other programs.\u00a0 Such amounts are useless with respect to buying power (even $1.00 is!) and I wonder why a program would saddle itself with the extra paperwork of processing such small withdrawals.\u00a0 If it is all done on autopilot, I guess it doesn\u2019t matter.\u00a0 However, there are still programs that handle all withdrawals manually.\u00a0 In the case of Soft-Mining<\/a>, assuming that your withdrawal request is more than $5, it should be processed instantly.\u00a0 In the case of Bitcoin withdrawal, expect a delay due to the verification process before the withdrawal reaches your account.<\/p>\n

Soft-Mining<\/a> has a very simple but satisfactory referral program that pays you 5% of deposits made by people that you bring into the program.\u00a0 This is not as lucrative as affiliate programs featured by some other HYIPs.\u00a0 However, it might be enough to keep a diligent recruiter happy, especially if his portfolio includes a number of other programs.\u00a0 You do not need to make a deposit in order to participate in the affiliate program.<\/p>\n

There is only one contact option for reaching out to Soft-Mining<\/a> in case you have an issue that you need help with.\u00a0 This is the standard contact form.\u00a0 Although limited, I note that a contact form can be extremely effective if the turn-around time is very quick.\u00a0 Waiting 24 or more hours for response to a burning issue can be very frustrating.\u00a0 The addition of live chat would be very welcome.<\/p>\n

OK, that\u2019s about it for Soft-Mining<\/a>.\u00a0 In summary, the company offers a number of long-term programs and gives us clues to expect long-term survivability.\u00a0 Of course, we will have to see how that works out.\u00a0 So, if this type of long-term approach is your cup of tea, you might want to consider adding Soft-Mining to your investment portfolio.\u00a0 As always, we advise you to have a diversified portfolio and to never invest in any program more than you can afford to lose.\u00a0 Good luck!<\/p>\n

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\u00a0<\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This is \u00a0SCAM project already! Do not invest there anymore! This is a difficult review for me to write from the point of view that I do not fully understand how the process of cloud … Soft-Mining — Review<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-427","post","type-post","status-publish","format-standard","hentry","category-reviews","exalt-entry"],"yoast_head":"\nSoft-Mining - Review - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=427\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soft-Mining - Review - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"This is \u00a0SCAM project already! 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