Month: May 2022

Experiment completed – Ruby Mine is dead

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Remember when I started the experiment with Ruby Mine, a miner promising up to 8% profit daily? In this article? Well, the project is dead. Did I make money with it?

So I invested a tiny mount of roughly 20 USD in form of 0.25 Avax in Ruby Mine. With the 6:1 recommended – not to say enforced – methodology to reinvest 6 days in a row and only claim on the 7th day, I should have made my investment back into about 3 months. And I almost adhered to the 6:1 pattern as advised, only 1 exception, as you see further down.

So in the first week, I made the following rewards:

19.04.22Rewards0.00400
20.04.22Rewards0.01400
21.04.22Rewards0.01500
22.04.22Rewards0.01300
23.04.22Rewards0.01100
24.04.22Rewards0.01000
25.04.22Take profits0.01000

As you see, the rewards increased in the beginning, but already during the first week it started to slow down a bit. I took profits on the 7th day as advised. Here you also have to consider the transaction fee which were about 0.006 Avax, which leaves only 0.004, not only half of the claimed reward in reality. If my understanding is correct, these transaction are not only defined by the (Avalance) protocol, but also by the Ruby Mine smart contract. If you take profits, the fees where always roughly 3 times higher then rehiring.

Second week looked like this:

26.04.22Rewards0.00800
27.04.22Rewards0.00700
28.04.22Rewards0.00700
29.04.22Rewards0.00600
30.04.22Rewards0.00600
01.05.22Rewards0.00600
02.05.22Take profits0.00500

I guess you noted already the steady decline of the profits, didn’t you? Bravely as I am I took the “profit” on the 7th day again which was about 0.005 Avax with a transaction fee of around 0.01155. Correct, that is not a profit anymore; its a loss at the end.

Lets have a look at the third week:

03.05.22Rewards0.00400
04.05.22Rewards0.00400
05.05.22Rewards0.00400
06.05.22Rewards0.00400
07.05.22Rewards0.00300
08.05.22Rewards0.00300
10.05.22Take profits0.00400

Even so I increased my Rubies in the mine constantly due to rehiring, stayed stable or even decreased also in the 3rd week. I didn’t rehire on the 9th, as the transaction costs exceeded the potential amount to rehire. I processed the rehiring then the next morning expecting that a couple of hours do not “violate” the protocols expectation and at the same time not paying more transaction fees then the reinvested amount. That probably worked. Taking profits again, was not really taking profits: The transactions costs were again higher then the claimable amount: 0.004 and a fee of 0.01169. Again a loss.

I stopped the documentation then as the numbers declined even further. Well, as you know, the whole market dumped. And with these dumps, also the Telegram group and the Twitter account disappeared suddenly, Discord changed to Meta Miners, and with that Ruby Mine was and is a thing of the past. Not too many will miss it I guess…

Conclusion

So what did we learn from this little experiment:

  • If it sounds too good to be true, it probably is. Well, no one really believed in a sustainable project providing 8% profit daily in the long run without any other income stream besides bringing more people and their cash into the system.
  • If you still invest into a ponzi-scheme you have to be one of the first. But even then it is quite unlikely that you still make a profit as the system, like in this case, might run out of liquidity before you make your money back. Unless you bring a lot of referrals into the system and you profit from them indirectly in addition.
  • If you still like to invest, you have to ensure your profits are higher then the transactions costs. So don’t invest such a tiny amount into these systems as I did for this experiment.

Souls of Meta IDO postponed

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Bluezilla just announced in their channels about another IDO postponment. This time it is Souls of Meta which was originally announced for launch on 12th May. The new IDO date is not yet determined and will be announced soon.

Here is the message:

Dear SOMfam,

Due to the unforeseen terrible market condition in our industry, we collectively decided to postpone our IDO to a better date, which we will announce later.

This is in the best interest of all key stakeholders in our community at large.

Consequently, today’s AMA will be rescheduled, to align with the new launch date.

Meanwhile, our seasoned team will keep on developing and building in order to have an even better version of the product for our community.

Stay tuned for upcoming exciting announcements!

Visit our Official Sites and Channels:

Not on the Whitelist yet? See here.

Earn money in your spare time – Cointiply – follow-up review

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As promised in the previous article about Cointiply (and how to withdraw), I gained some further experience with Cointiply, played with all the various options, and increase my balance with them even more. The intention of this article is to show you, how you can (actively) earn additional income by completing the activities offered by Cointiply.

You find these on the Dashboard under the “Earn” menu item.

Roll the faucet

Lets start with the easiest activity offered: the faucet. Here you can roll the wheel every hour and gain a few points. Easy and quick task, but the rewards are obviously also not that high. I still did roll it from time to time to gain some extra points.

View PTC Ads

The next activity I explored was viewing some ads. Also not that much energy you have to invest to be honest. There are usually many offers waiting for you to explore. Some of them you have to view for 5 seconds only, others take longer. The longest I had went for 45 seconds. Quite obvious that you get more points for the longer activities and less for the others. You have to make sure, that the tab showing the ad keeps the focus. The Cointiply tab displays a countdown on how many seconds more to go. Ones the countdown completed you have to solve a small captcha by clicking on a item and you get the points rewarded. Quite simple, right?

Play the multiplier

This is a betting game, where you can wage a certain number of coins (minimum of 10 coins). You then have to pick some random targets. If you pick the red gems you win, if you pick a black gem, you loose the round and your initial investment. If you are lucky, you can make it up to level 11. Guess, that takes a lot of luck. You can also click on “Take win” and collect your profit. Maximum multiplier is 61x.

I haven’t played this game a lot, as I am not such a big fan of these kind of games. And I usually loose anyway. Although that is quite personal. There is more information on the game in this document.

Play Games

Playing games, sounds like a lot of fun, doesn’t it? Lets have a look: Click on “Earn” and then on “Play games”. This leads you to a new tab, showing short instructions (like not having an ad blocker active), where you got to click on “Start playing & earn coins”. Click. This embeds a window of a mini game website, where you can choose your game and start playing. While you play, a bar on the top screen starts to fill up (slowly) and once its fully filled, you get some coins. Here is how it looks like:

Refer Users

This one is quite obvious: Share the link available under “Earn” -> “Refer users” with your friends and you will earn also a commission when the earn money. Win-Win.

If you like to use my referral link (thank you) it is: http://cointiply.com/r/XeGvg

Cointiply Quests

There is a new feature which I didnt explore that much yet which is Cointiply Quests. Solve the quest and claim your reward for it.

Surveys and Offers

Probably the best opportunities to gain points and earn money: Completing surveys. Of course you can also accept many other offers, like signing up to a website, installing a mobile app, and many more. Survey will be the activity gaining the most.

There are many survey providers available like Yuno Survey Direct, Your Survey Direct, Theorem Reach and others. They all offer on a daily basis various survey for you to complete. Some consume only 5 mins of your time, others take up to an hour. The more time you need, the more you earn. Make sure to answer the questions honestly, as your answers will be verified: There are (obvious) control questions during the surveys, but also your answers are getting checked for consistency in the background. Great way to earn many coins.

Conclusion

Cointiply offers quite a broad range of activities to go through and earn coins. Quite impressive on how many offers are available on a daily basis to choose from. There is something in there for every one. My favorite activity is of course taking a survey to gain most points.

I also have to mention the help desk, which is amazing. You get a always friendly reply within 24 hours, and my problems were solved. Great service, which I really appreciate.

To gain some additional money outside of my day job, Cointiply is for sure one of my favorite sites currently. Highly recommend to give it a try, if you haven’t yet.

HNW Refinery – Is this the new Drip?

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As mentioned in one of my other posts a while ago, I will start to explore some high risk DeFi projects going forward. Here is another journey I started only today.

Have you ever heard about Drip? Pretty sure you did: Invest into Drip, buy some tokens, deposit them and you will be rewarded with 1% on a daily basis. You either re-invest this amount or you take profits and claim it. Drip also used a referral system, where you can profit from your ‘team’ which led to quite a lot of Drip articles on Medium and everywhere.

I have to admit, I never used Drip myself. Looking at the current price chart of it, I decided to not choose Drip for my experiment (or better experience), but use one of the new similar and hopefully improved systems instead: HNW refinery. Let me take you on my journey. Keep in mind, I am just learning about this system together with you. Should we get started?

Overview

The team behind HNW is, as per their Whitepaper, a “team of professionals who want to change the crypto space through hard work, ingenuity, and trust.” And this is intended to be achieved by community building the best offers to clients and investors. It is mentioned a several places that the teams mission and number on priority is to keep the investors money safe. That is a good starting point I would say.

HNW is collaborating with many so called alliance partners like Sidekick Finance, Crypto-Logic, Crypto-Hunters, etc. and offers various services in the area of NFT integration, community building, fund raising, anti-bot & other safe launch measures, smart contract consultancy and much more which adds utility to their tokens.

The foundation of the whole platform are 3 tokens:

  • HFUEL: To keep it short, this is actually the only token you need to start earning with the refinery. You deposit HFUEL tokens, which will allow you to earn rewards from your deposit.
  • HNW (xHNW): Mainly used for team leaders, or wingmen, as they are called here. Staking of these tokens is required to increase the maximum payout of your wallet. See picture below.
  • Sidekick (xSK): Staking of xSK can increase your daily reward from 0.8% up to 1.2%. See picture below too.

Tutorial – how to get started

Lets keep this article a bit shorter then intended first, a follow-up is planned, lets have a look at the steps I took to get started. Feel free to use it as tutorial for yourself too.

I bought 100 HFUEL as a starting point and received 95 tokens in my wallet. There is a tax of 5% on any buy, sell, deposit, transfer transactions. I then deposited the 95 tokens in the refinery and ended up with 90 HFUELs. So in other words there is a 10% tax to start with the refinery. Keep that in mind if you like to deposit a certain amount of tokens.

Prerequisite:

  • Metamask using the Binance Smart Chain
  • Some BNB (or BUSD) to buy HFUEL tokens and then also some BNB’s to pay the gas fees obviously

Steps to deposit in the refinery:

  1. Head over to the HNW dashboard.
  2. On the left side click on HFUEL to open the menu and then click on “Buy”. This directs you to PancakeSwap and you can add directly the HFUEL token to the token list to swap. Just accept adding the token to your list.
  3. Swap your BNB or BUSD for HFUEL tokens.
  4. Head back to the HNW site and click on “Refinery” and then on “Pipeline”.
  5. As a first step here you have to select your “wingman”. This is your team leader in the system. Either do your own research for your preferred wingman or feel free to add my address to support my journey in this area: 0xb3C253D80578f569cFd4fe2E916EDbF01B384577. Make sure to confirm the transaction.
  6. Then it is time to deposit the HFUEL tokens. Either hit “Max” or enter the number of HFUEL tokens you like to deposit. Once the number is added, click on “Approve” and then “Deposit”.
  7. As soon as your deposit is done, you will see your number in the dashboard in the section “Available” starts increasing.

Claim or refuel?

Once you deposited your HFUELs in the refinery you start earning rewards. As mentioned, depending on your stake of xSK between 0.8 and 1.2% daily. You can claim (5% tax) these and sell (15% tax) your tokens if you like.

Probably the better option at the beginning, and this is where the power of compound interest will show its strengths, is to refuel your earnings. So you will end up not only earning on your initially deposited tokens, but in addition also on your reward.

Lets assume you deposited 100 tokens and you earn 1% (for simplicity) you will earn 1 token after a day. If you refuel, you will earn 1% on 101 tokens the next day, which is 1.01 tokens. The next day 1% on 102.1 tokens, and so on. If you do your math, this sums up nicely for you.

And now?

So is this the new Drip? Before jumping to conclusions yet, lets explore the system further, lets see how the deposit growths, lets refuel to gain more. And lets have a follow-up to see if this investments was worth it.

Again my wingman address, if you like to use it:
0xb3C253D80578f569cFd4fe2E916EDbF01B384577

KitcheNFT weekly gourmet giveaways

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📢 #KitcheNFT WEEKLY GOURMET GIVEAWAYS!

🤯 We have crafted an EXTRAORDINARY taste of some of the rarest NFTs on the #Velas network! Every single week we will be giving away NFTs from these highly sought after collections!

🔥Every Friday and Saturday, a lucky winner will receive a rare #Velas NFT!

🧑‍🍳 Wait until you see what we have whipped up, your mouth will be watering!

👉 To enter into the giveaway for a chance at a taste, complete the form below!

🌐KitcheNFT Official Links:
🔹 Website: https://www.kitchenft.app/
🔹 Twitter: https://twitter.com/_KitcheNFT
🔹 Telegram: https://t.me/KitcheNFT
🔹 Discord: https://discord.gg/Dbmkg2kEuJ
🔹 Medium: https://medium.com/@KitcheNFT

Join the giveaway here.

Win a Tesla – Safuu Giveaway

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That’s what I would call marketing: Safuu is currently running a “Buy & Hold Giveaway” campaign where you can either win a Tesla Model S or 90,000 USD in Safuu Tokens. Of course this is only the 1st Price and there is more to win:

10 Prize Winners will be drawn

There will be 10 lucky wallet addresses drawn via a certified randomising selection tool streamed live on our YouTube channel. So what are you waiting for? Register your details now, and start buying and holding your Safuu tokens in the month of May.

1st Prize: Choice of: Custom wrapped Tesla Model S (Valued at over $95,000 USD) OR $90,000 USD in SAFUU.

2nd Prize: Choice of Solid yellow gold Breitling unisex watch (Valued at $35,000 USD) OR $30,000 USD in SAFUU.

3rd Prize: $20,000 USD in SAFUU

4th Prize: $10,000 USD in SAFUU

5th Prize: $5,000 USD in SAFUU

6th — 10th Prize: $1,000 USD in SAFUU each

And how can you win?

Step 1: Register your details here — Enter Now!

Step 2: Buy Safuu at BoggSwap or PancakeSwap.

Step 3: Hold. Tickets in the draw will be provided for any unsold and untouched Safuu throughout the month of May, until 00:00 1/6/2022 UTC.

Who can win?

New Holders
Every 0.1 of Safuu bought & held during the month of May equals 1 ticket in the draw.

Existing Holders
Every 0.5 Safuu held in a wallet that remains untouched; unsold, non-transferred during the period May 1st 2022 — May 30th 2022 equals 1 ticket in the draw.

  • Each purchase via BoggSwap/PancakeSwap is counted during May 1st — May 30th.
  • Any Safuu transferred or sold during the promotional period will VOID the corresponding ticket in the draw. The untouched/unsold Safuu will still provide tickets in the draw.
  • All entries go into the draw and winners are announced by random selection June 1st 2022.
  • Unlimited entries — increase your chances of WINNING with more SAFUU purchases. The more you buy the better chance you have to WIN!
  • Promotion period: May 1st, 00:00 UTC to June 1st, 00:00 UTC

More info over a Safuu on Medium.

CryptoBlades Level 70+ Character Giveaway

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CryptoBlades is currently running a giveaway on Gleam.io where you can win a Level 70+ charachter. Please see the rest of the campaign here:

Add your meta mask address this can be done at the bottom of the list

  • No fake accounts
  • No multiple accounts
  • All winners are subject to individual verification of validity to ensure fairness
  • Rewards will be sent out between 1-7 days after the giveaway has ended

Join the Giveaway here.

Haven’t heared of CryptoBlades yet? Visit them here.