Mining City pivots to Ponzi shitcoin factory with Electric Cash
With their previously launched Bitcoin Vault Ponzi coin failing and affiliate recruitment down, Mining City has announced a new Ponzi shitcoin launch.
Electric Cash was initially announced on Mining City’s social media accounts on December 12th.
The announcement was made by Mining City CEO Gregory Rogowski. Electric Cash, like BTCV, is being developed by Mining City owner Eyal Avramovich.
As previously stated, since being launched on dodgy exchanged BTCV has followed the typical Ponzi shitcoin trajectory:
With investor recruitment tanking following regulatory action against Mining City in the Philippines, unless new gullible investors are found elsewhere, BTCV will continue to dump.
Electric Cash is an attempt to convince what’s left of Mining City’s affiliates to baghold their worthless BTCV.
As explained by Rogowski;
BTCV will play a huge role in the initial adoption of Electric Cash.
You can stake your BTCV for a given amount of time and receive Electric Cash absolutely for free.
“Stake” is code for “park BTCV with Mining City”. In return for not cashing out, Mining City investors will be rewarded with Electric Cash, which costs Mining City little to nothing to generate on demand.
The same is of course true of BTCV, and so effectively we have a new Ponzi shitcoin being launched to prop up another.
Rogowski claims Mining City will “continue to support BTCV”. Unless affiliate investor recruitment picks up however, how the company will fund withdrawal requests is unclear.
Without new investors, sooner of later the actual money taken in for BTCV will run dry.
Rogowski and Avramovich run Mining City out of Poland. Rogowski’s December 11th video was shot in what appears to be a private residence.
Avramovich shot his own video from the same room on the same night, against the backdrop of a bar:
Rogowski is sitting at the same table Avramovich is, just from a different angle with the windows behind him.
Avramovich’s video comes in at [2:59], most of which is spent pretending BTCV and Electric Cash aren’t Ponzi shitcoins he and Rogowski steal investor’s funds through.
Update 3rd August 2022 – Eyal Avramovich has deleted his BTCV and Electric Cash defense video.
I had included a link to the video but as such have removed it. Gregory Rogowski’s excuses video remains available.
Mate if btcv was a ponzi coin it would’ve crashed already like ethereum plus. This is a serious proyect , just marketed with an multilevel marketing program.
And then there’s haters like this dude who hear MLM and they just jump around screaming PONZI , SCAM ! without really knowing what’s behind the project.
Honestly is a sick investment, time will tell.
(Ozedit: derail removed)
Ponzi coins crash when recruitment in the scheme propping them up dies off.
Serious projects don’t commit securities fraud and operate illegally.
Mining City is a Ponzi scheme based on its business model. What are you, five years old?
C’mon, Oz, haters gotta hate. Every five-year-old knows that!
The scammers break out the “haters” label so much, that word is pretty much a guarantee they’re running a scam.
Really, people, work on your vocabulary. You’re just being repetitive.
This publish is a whole bullshit. Such a clear attack to company and coins which already demostrated are real and bring solutions to the market.
The 3 keys system antithef was a lie and impossible until it was launched to the blockchain and now is completely functional and is a fact.
Cannot do any blog post to take this down.
How so?
“3 keys system antithief” and other BUH MUH BLOCKCHAIN! bullshit doesn’t change the fact Mining City is committing securities fraud because it’s a Ponzi scheme.
And now with that Ponzi failing, they’ve migrated to pumping out Ponzi coins. Too bad Mining City can’t apply its antithief system to itself.
I have heard several times that the strong point of BTCV is precisely the fact that you can restore the payment made up to 24 hours later.
I am neither within Mining City nor do I have any BTCV, so I am interested in knowing whether or not this currency can really have a value over time, beyond MLM.
On the other hand, it is said that it is not possible to mine outside the nodes set in Mining city, something that I find curious and not very pleasant. Is this true? Someone knows?
Thank you!
If BTCV ever was used for anything but speculative investment, which is unlikely (see: bitcoin after 11 years), that sounds like a Nigerian Prince’s wet dream.
Rogowski & Eyal Avramovich are the bigget CRYPTO SCAMMER in the Industry, right Eyal ?, you run away long time ago and you cannot defend your Ponzi Schemes here.
Electric Cash will be the new Pump & Dump Exit Scam, it will become Electric Scam
Careful with Tania Rodriguez Ortega (IG: tania.ro7), she is a big ponzer, scammer, btcv, scam, electric cash, fraud.
Greg Rogowski very curiously has disappeared from the spotlight. A month ago there were weekly updates as to the”amazing, mind-blowing, revolutionary” BTCV.
now investors are left with more questions by the day. Leaders or rather chief recruiters have gone quiet, they seem to know something we don’t. And are now pushing to market Electric Cash, coz they know affiliate recruitment is down.
I feel like they plan on sourcing the last bits of revenue from gullible investors then disappear.
Africans should also be aware of Hanna Pindza. She’s a Ponzi scammer who blocks people who question the transparency of the coin.
It seems Eyal is also planning an exit scam, his social media is non existent and they have put some guy with a weird name to be doing the announcements, most probably the fall guy or a fake name.
I’m really amazed that there are still people who are willing to fall for the same tricks again and again.
A swindler got your money so you have to let him do it another time hoping his moral will tell him to be sorry and return your money or what?
Mining City website down or are they just testing their exit plan with public reaction. Either way there’s cause for concern.
A leading South Korean broadcaster reported on the main news about IDAM Korea’s BTCV scam.
youtube.com/watch?reload=9&v=7Z8s_9PfISk&feature=youtu.be
They’ve taken more than 90% of Bitcoin Vault’s hashrate in one night to start mining Bitcoin for themselves.
Amazing.
What happened to electric cash?
Two false threat emails received from Mining City
False threat mail received from Mining City, Part 1.
blog.naver.com/unibioslife/222274829230
False threat mail received from Mining City, Part 2.
blog.naver.com/unibioslife/222275819047
What’s Idam?
edit:
So Idam = another shell company or just what Park calls his Sth Korean Mining City downline?
Oz, really don’t know Idam? Mining City was created by Mr.Park, CEO of Idam, with Eyal and Greg.
Mr.Park is the world’s No.1 affiliated company in Mining City.
Mr. Park is from the rank of Mega Monster of the Bitclub Network in Korea.
IDAM is a company created by Mr.Park from the Bitclub Network.
Yeah I’ve never heard of Idam. It seems the English barrier is a two-way street.
For the most part whenever I see South Korea pop up as a top source of investment I don’t know the finer details. Likewise outside of translation efforts victims in non-English speaking countries are kept in the dark.
Take for example Japan, currently Alexa’s top source of traffic to Mining City. Given the overall traffic rank recruitment there must be huge. Yet here in the English-speaking world we don’t hear a peep.
This is of course preferred by scammers. Most of the ringleaders are bilingual and of course know what’s up.
I see Alexa is now also ranking Papua New Guinea as a source to Mining City’s website. First time I’ve seen PNG pop up as a country to be pillaged by MLM Ponzi scammers.
Probably some schmuck from the Philippines migrated marketing over if I had to guess.
I understand. Oz.
Mining City Philippine Team Leader Anthony Aguilar Upline is Mr.Park.
Mr. Park is the top of the mining city upline around the world.
This is a YouTube channel that advertises for his Electric Cash promotion.
youtu.be/KN51NXHrMkI
All good. Thanks for sharing.
Is Park likely at the top of Mining City Japan or is that a separate branch of scammers?
Japan is the same as the Philippines.
The top upline of all affiliates of Mining City is Mr.Park.
Mining City announcements are made through Telegram.
t.me/miningcitynews
Sounds like Park has quite the south-east Asian Ponzi empire then.
And what, South Korean authorities not giving a shit since BitClub Network?
Unfortunately, there were few penalties for the Bitclub Network in Korea.
Most of the Mining City team leaders Mr.Park is gathering around the world are former Bitclub Network leaders.
This scam has come to Africa. I was invited to a number of Zoom meeting on “Investment”.
I joined out of curiosity but as soon as they mentioned the two tier system where you have one company for MLM and another for the coin, I knew something was off.
The speak a good game to get you hooked but the promises sound too good.
This right up there with Onpassive, FutureNet and Onelife/Onecoin. It is all the same hyped marketing but with dubious substantive points.
Do you actually have proofs that mining city is a ponzi scam?
As far as I know, their users have pdf instructions to track their payments and prove that the mining rewards are coming from the blockchain. The rewards are not coming from other user’s payment. This is confirmed 100%.
Mining city is the most transparent MLM company you would find
Thanks for not deleting my comment 🙂
Yes, Mining City’s comp plan and ongoing securities fraud.
MLM + securities fraud = Ponzi scheme.
Nobody cares about thE bLoCkChAiN or token rewards. If you want to claim Mining City isn’t a Ponzi scheme provide evidence it is using external revenue to pay withdrawals.
These reports should be backdated to when Mining City launched, as is legally required.
If you can’t provide said reports, thank you for confirming Mining City is a Ponzi scheme.
Ponzi scheme is not MLM + Securities fraud according to Wikipedia:
en.m.wikipedia.org/wiki/Ponzi_scheme
Ponzi is when old members get paid from new members money.
Well, for the sake of the discussion, if I will provide evidence it is using external revenue to pay withdrawals, will you admit your mistake and stand corrected or you will just delete the evidence ?
Yep. And this is exactly what happens in Mining City, and every other MLM company committing securities fraud.
Other than new investment there is literally no other source of revenue to pay out from.
Not interested in hypotheticals. Requested evidence or GTFO.
Mining City wouldn’t register with the Philippine SEC and provide them audited financial reports (because it’s a Ponzi scheme). Best of luck to you.
(Ozedit: no audited financial reports here, spam)
Bitcoin Vault has created new people.
bitcoinvault.global/team
And a new company related to them was registered in Poland.
imsig.pl/pozycja/2020/191/KRS/760734,ELECTRIC_VAULT_SP%C3%93%C5%81KA_Z_OGRANICZON%C4%84_ODPOWIEDZIALNO%C5%9ACI%C4%84
The new company name is Electric Vault.
Happy trader and Ari Maccabi went at each other on some telegram open forum yesterday.
Now either happy trader switched up to pro-MLM in one day or Ari is impersonating Happy Trader.
Is it a coincidence that Eyal formed Electric Vault a day after they had finished dumping BTCV.
BTCV dumped to 110 on sep 23, electric vault files for application sep 24.
Greg then just released a video where he desperately tries to explain legitimacy of mining city with a few flowery slides on YouTube.
You can’t cover up a scam with sweet words anymore: youtu.be/lbo1K39BDK8
20 minute FAQ video.
The only question that needs answering is why is Mining City still committing securities fraud?
Mining City is now persuading investors to switch from a mining rewards scheme to a fixed payment plan system.
My guess is to avoid the possibility that they could be sued for immitating mining activity without actually mining the shitcoins themselves.
They’ve done a whole document to force investors in switching to this form of payment system.
Name-change from Mining City to FixedROI City when?
Returns have been new investment from day one. That’s the reason Mining City isn’t registered to offer securities anywhere.
Good to see they’re finally acknowledging their Ponzi scamming.
If you want to know the exact beginning of Mining City and Mr. Park, check out this video.
For reference, BOb Spiro, who made this video, is also known as a scammer from the Bitclub network.
youtu.be/7BNRmKEhcAU?t=900
Mining City Greg finally announced his exit strategy on his own YouTube channel.
youtu.be/4b4svh-tZdU
Investors are growing tired of his antics and promoters have started to dip under the radar.
They know they can’t inspire confidence among investors and time is running out. The end is near lol.
Lol, I don’t know why people are defending the mining city company and btcv coin. I’m amoung the people who bought the primary plan and I must say it is bullshit.
Who ever bought the btcv mining package around August 2020 is not making any money unless they lier to others and recruit them.
Lot of people are selling their package of BTCV because they are not making any money all that was promised is not happening.
btcv is below 25$ and elcash is above 60$ and that’s the coin they are promoting now.
July 2021. BTCV USD 20.XX and dropping…