Poker Mining is a site that bills itself as a cryptocurrency cloud mining pool that provides options for interested parties to lease computing power in return for a share of those digital assets. However, our research indicates that there’s likely no actual Bitcoin mining going on, making this entire company a possibly dangerous scam.
About Poker Mining
Poker Mining is owned by Mythology Holdings, a fintech company with offices in Singapore and Hong Kong. The listed CEO of the company is Takuya Hashiyada. In addition to his position at Mythology Holdings, Hashiyada is also the CEO of Dicewallet, a cryptocurrency wallet mobile app.
It’s also claimed that he and Dicewallet successfully hosted an event in Tokyo called the “New Blockchain Conference 2017” on September 17 2017, but besides one press release – obviously written by Hashiyada himself – we’ve found no record of such an event.
Meanwhile, the Dicewallet app has a rating of 3.8 out of 5 on Google Play from 23 people. The app has less than 5,000 installs. This doesn’t exactly fill us with confidence in Hashiyada, Mythology Holdings, or Poker Mining.
Poker Mining Products
Poker Mining offers two different products. The first is a one-year X11 algorithm mining package, which is used to mine the DASH, Litecoin, and Dogecoin cryptocurrencies. The other is a two-year mining package that exclusively provides Litecoin.
There are three tiers for each package. The X11 package is available in Small, Medium, and Large with buy-ins of $30, $500, and $2250. The Litecoin package is available in Gold, Platinum, and Diamond, and features $28, $650, and $2400 price points.
Poker Mining accepts both US dollar and Bitcoin as payment.
The Poker Mining Opportunity
The opportunity provided by Poker Mining is to ostensibly lease computing power and be paid for a portion of the cryptocurrency generated by that leased computing power. However, Poker Mining does not disclose its ROI for any of its packages, making it highly difficult to provide a clear view of the opportunity.
Final Verdict On Poker Mining
Even if Poker Mining had a more transparent CEO and provided more detailed information on its investment terms and ROI schedule, we still wouldn’t feel comfortable recommending it. That’s because independent research into the company has discovered the digital currencies Poker Mining pays out to its investors are from questionable sources.
In essence, every digital currency transaction leaves a discernible fingerprint that can be used to look up the history of that particular piece of currency. Other researchers have found that the DASH, Litecoin, and/or Dogecoin paid out by Poker Mining is pre-existing currency and was not freshly mined by the company as it claims.
This makes us believe that Poker Mining is taking its investors payments and simply buying these cryptocurrencies to pay off its ROI, pocketing the rest in a typical high yield investment program (HYIP) scam. With investor deposits its only source of real revenue, Poker Mining is doomed to eventual failure – and it will take all its accumulated deposits with it, disappearing into the night.