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I came across a social media post about the so called space mining (SpaceMining.io) company and was surprised by their claims. So decided to spend some time digging how these kind of companies operate and cash on.

Looks like they recruited their CEO, CFO and lead developer for free on Getty images, well, why not? executives making some money doing modeling, brilliant!

Find the CEO Here

https://www.gettyimages.com/license/10743

Find the CFO here

https://www.gettyimages.com/detail/photo/smiling-japanese-businessman-with-arms-crossed-royalty-free-image/108117007

The lead developer Daniel Rocha Santos, is worried about his low GPA blocking him from getting a job at Google.

https://www.huffingtonpost.com/entry/will-my-low-gpa-block-me-from-getting-a-job-offer-at_us_594b3bede4b062254f3a5b90

https://www.gettyimages.ca/license/502859751

They have a referral scheme earning 7% + 2% + 1%, what an idea, perfect pyramid, isn't it?

Coming to the statistics they offer 100Gh/s for free on sign up and they claim they have 176600 users and had 700k withdrawals. Let's break it out..

At current bitcoin difficulty, assuming all users got 100GH/s for free, would mean almost 690K (17660 TH/s) withdrawals per month, note that this is after last few days bitcoin value decline. So almost they have no paying members? I am still worried about those few that believe in these kind of "too good to be true" companies and invest their hard earned money.

One might think losing what one can afford to lose, is not that of a big deal, and will get the money back before they shut their doors. In fact this is the kind of thinking that's giving fuel to these kind of companies.

Bonus: Their office is HUGE (500k sq feet)

200 Aldersgate Street

London, EC1A 4HD

United Kingdom