Sierrahash Review – Bitcoin Mining Scam Exposed

If you were hoping to find an educated and honest opinion, please continue reading our complete Sierrahash Review. Below you will find a complete overview of this site as well as our opinion.

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Sierrahash Review

Sierrahash Review is a HYIP or high yield investment program that offers an ROI (return on investment) of up to 16% daily forever. This site describes itself as a Bitcoin cloud mining site that uses the power of cloud mining to mine BTC for their investors. How does it work? You buy hash power and they do the mining for you. In a few days, you should see earnings building up in your account that is free to withdraw.

Cloud mining with Sierrahash scam sounds extremely profitable and easy. But is it a real cloud mining project or just another Ponzi scam like most of the BTC mining sites that we have exposed in the past. At the time of this review, scam has been running for just two weeks. We have collected user reviews as well as information regarding the origins of this site and who manages it. Scam Facts!

Each day a new cloud mining site launches and EACH day an older cloud mining site closes down. Why is this? Any seasoned online investor knows that cloud mining sites are a quick way to make some quick earnings without any promise of a long-term business. But if Sierrahash scam is truly cloud mining for BTC, why would they close up at all? Wouldn’t they just keep mining forever?

The answer to that question is obvious and complicated all at the same time. Here’s the short answer. scam is NOT mining BTC. How do we know? The support (admin) of the site refuses to give any hardcore proof that they are mining. They list a random location in Iceland as the main source of mining activity. However, this location doesn’t appear to have any links to online cloud mining.

Most people will never search for information regarding a company because they trust what they read online. This leads to our next problem.

The majority of review blogs don’t research the history and activity of a website. They simply explain how it claims to work and then post their referral link in the hopes of scooping up some easy money. But don’t get confused! Just because scam isn’t actually mining BTC in Iceland, that doesn’t mean you can’t earn some money!

So what’s the catch? How can YOU earn money with a fake cloud mining site?

Sierrahash Ponzi Scam Exposed

The real mode of earning through this site is the standard Ponzi method. The admin of the site collects investments from new investors and spreads that money out to his older investors in order to pay their withdrawals. Ponzi programs always use a fake backstory to make their website look legitimate, such as claiming they are a crypto trading company or a cloud mining service.

The truth is that all of these sites are simply repaying older withdrawals from the money of new investors. Your next thought should be… how long can that last?

A Ponzi scam will only last as long as:

a) the owner remains honest and redistributes the money fairly
b) the site generates new investors daily with deposits equalling to the requested withdrawals

If either of the concerns above is not met, the program will fall. In our vast experience, ALL Ponzi scams fall. Some fall in a matter of days and others last a few months. The owner of the site will always make off with the most amount of money, assuming he has collected a nice portion of the deposits in his own BTC wallet.

Risks Of Joining Sierrahash Scam?

It should be pretty clear that investing in a Ponzi scheme is a HUGE risk. Firstly, never join any site that is older than 2 months. 2 months is already past the prime days of a Ponzi scam. If you want to earn, you need to join quickly within the first few days or maximum of 2-3 weeks. If you miss that cut-off, you most likely will not make money.

Remember! We are not speaking for all Ponzi scams. Some never pay at all. Some pay for 6 months or more. Some fall after only a few weeks. That is why it is a risk and one you must take willingly.

When HYIP scam closes, you will lose whatever money you had in the system. That money is gone. Don’t even bother trying to get it back. We’ve seen people waste months of their life trying to get BTC back from an anonymous website to no avail. It’s not worth your time. Move on. Scam Facts

As we mentioned above, it is impossible to reclaim your earnings after the site closes (and they WILL close). Why is this? Nobody knows who owns the site. The owner has chosen to remain completely hidden and has not revealed his name. The registration of the domain does not list a country of origin, but we will go out on a limb and say we believe the admin is either from Nigeria or Russia… or one of the surrounding countries.

In the last few months, we have seen a dramatic increase of HYIP and cloud mining scams come from these countries.

So is Paying?

It seems that at the publication of this review, is currently paying. Please take note that we DO NOT support this site and we strongly warn you NOT to join! Most people who join this fake cloud mining site will become a scam victim and lose anything they invest. We are not joining and will advise anyone we talk to NOT to join.

The choice is always up to you in how you spend your money. But please remember that this site is a fraudulent business with an anonymous owner who has no care for you or your finances. Proceed accordingly.

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Is a Scam?

We firmly believe that is a scam. Do NOT join this site. There are better options above. If you would like our advice or help, please send us a message. We reply personally to all the emails we receive and we love to hear from you!

Stay safe online and as always…

Happy Earnings!

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