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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.

Cointiply – Earn real money – 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

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.

Cointiply – Get paid in cryptos to do regular tasks

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How does it work?

You can do one of the following activities to earn points on Cointiply:

  • Survey – There are several survey provides collaborating with Cointiply, so you should have always a bunch of tasks available to complete. In my experience you will receive most coins from completing these surveys.
  • View ads – Watch ads for a few seconds and earn some coins. Not a lot to do, not a lot of coins of course.
  • Roll the Faucet – Every hour you can play the free faucet and earn some free coins. There is a maximum of 308 coins to win.
  • Play the multiplier – Multiply your Coins up to 63x by playing the fun and addictive CointiPlay multiplier.
  • Play games – Play games and view ads to earn Coins. Available to all countries, every day!
  • Refer friends

Withdrawing

This is mostly the tricky part in my experience with most of these faucet and activities sites, hence I was waiting with providing a review before I couldn’t confirm the withdrawing process works fine. So I just tried to withdraw the minimum amount of 30,000 coins (around 3 USD) to my litecoin wallet. How did it go?

I used a mail from this domain, which somehow didn’t work. So I switched with the help of the Cointiply support to a Gmail address. This worked flawless. Support service is really great I have to say. Very responsive, friendly and gets the job done. (Thanks, Alex)

So here is the documented process:

  1. Go to your Profile-Icon on the top-right and select “Withdraw”.
  2. Select the currency you like to get paid in. I selected LTC given it got very low transaction fees. Add your LTC Wallet address and the amount you like to withdraw. Minimum is 30,000 points, which I used.
  3. Confirm your withdrawal request by providing your password to receive a confirmation mail to approve the payment
  4. Check your mail inbox and click on “Approve this payment”
  5. Then you get a mail confirming that your amount is getting sent. This took a couple of hours in my case.
  6. The Litecoin amount was received on my Binance wallet.

I will provide further details of my experience with the Cointiply site a bit later after gaining more experience. If you like to play around with it too, please feel free to use my referral link below. Interested to hear your feedback.

http://cointiply.com/r/XeGvg

Withdrawal process gallery:

Up to 8% daily? Lets give it a try – Enter the Ruby Mine

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Lately I was investigating in these so called high yield farming or auto-compounding protocols. Usually I avoid high risks investments, as it is against my personal risk appetite, but I will make an exception to learn something new and discover new fields within the DeFi world. So more to come in the next days as I explore further protocols and also invest into these.

So disclaimer first: Nothing here is financial advise, only my own personal experience and opinion. DYOR.

So what is Ruby Mine?

In short, it is a high risk, but also high reward protocol running on the Avalanche chain. The Whitepaper covers a tiny story about adventurers who discovered a thousands mile long mine and you can hire miners to mine ruby’s for you. The promise is up to 8% daily return in AVAX. Let’s test that.

How is this sustainable?

The liquidity is provided by i) the transaction fee’s: With every buy or sell transaction you pay a fee of 8%. Although the white paper states 6% go into development and 2% into marketing. Also ii) the recommendation is to compound 6 days and withdraw only on day 7. Otherwise there is a decrease of rewards implemented int he protocol. And iii) liquidity is available as long as new users are entering the ruby mines, resp. the contract. There is also a referral system implemented… Did I hear someone saying ponzi-nomics? So if you think to give it a try, better be quick is my impression. The project runs only since April 2022, so still early days I guess…

So lets give this a try:

Prerequisite:

You need Meta Mask connected to the Avalance C-Chain with some AVAX sitting in it. Given this is a high risk investment, just to mention it again, I put only a tiny amount into it. To stay within my risk appetite.

Steps to mine

  1. Then head over to www.rubymine.money and connect your Meta Mask (referral link)
  2. Enter the amount of AVAX you are willing to invest (I invested only 0.25 AVAX, again, high risk)
  3. Read and accept the disclaimer
  4. Click on “Hire Miners”
  5. Profit (soon)

Compounding and taking profits

Once you went for a nap, the next day, you go back to your “mines” and click – as recommended by the whitepaper – on “Re-Hire”. Remember the 6-1 cycle: Re-hire miners 6 times per week and take profits 1 time per week. Taking profits too often will exhaust your mine and therefore decrease your earnings in the short and in the long run. So rehire Day 1 – 6 and on the 7th day you can hit “Collect” to take your deserved profits.

So lets see how and especially how long these mines provide profit. Will provide an update on this shortly.

If you are interested to join the mining experience too, please feel free to use my referral link. No harm on your side, a bit support on my side. Thank you.

https://www.rubymine.money?ref=0xb3c253d80578f569cfd4fe2e916edbf01b384577

Whitepaper

Ruby Mine Dashboard:

Celsius – Various bonus promotions

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Celsius got currently various promotions on going:

  • Stack up on LUNA with this exclusive bonus offer! For a limited-time, transfer $500 or more of LUNA and we’ll give you up to $600 in LUNA as a bonus.*
  • Transfer $500 or more of AVAX and get up to $600 in bonus AVAX on Celsius using one of the following promo codes: AVAX20, AVAX150 or AVAX600.*
  • Get up to $5,000 in bonus CEL using one of the following promo codes and earn up to 30% more on your weekly rewards: CEL100, CEL750 or CEL5000.*

Don’t have a Celsius account yet? Sign-up using my referral link and get $50 in Bitcoins: 105565ce6f

Refer your friends and win CRO – Crypto.com

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Just received the following notification from the Crypto.com app:

Limited-Time Offer: Invite 2 or more friends to the Crypto.com App to join the USD 100,000 lucky draw. There will be 4,000 winners. Refer Now.

If you got an account already, start inviting your friends.

Don’t have a Crypto.com account yet? Sign-up, get Cronos worth around 25 USD using my referral code vzz47kajn8, and then start inviting your friends and earn even more Cronos.

CoinFaucet.net review

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Who does not like free coins and tokens? I guess all of us do. Although there is no such thing as a free lunch, you get some ads on your screen, as you probably already guessed.

So how does CoinFaucet work?

  1. You sign-up for an account and login
  2. You select your desired coin
  3. Fill in the captcha text
  4. and spin the wheel

So now a bit more details to it: CoinFaucet offers a huge list of coins you can play for. As per their web page it is currently 851(!) currencies (screenshot above). They offer the most popular ones like Bitcoin, Ethereum or Tether, but also less known ones like Pundi X. Have a look under “List Coin” to find you favorite.

Pick your desired coin and click “Play” or “Bet”. We look at the “Play” option today and safe “Bet” for a later point in time.

Once you are on the screen “Get your free AVAX” – I have chosen Avalanche for this example – you see the winning numbers on the left hand side on the page and also how much AVAX you get: Spin a 10000 and you get more then 80 AVAX at the time of writing. Quite a good deal for just clicking a few buttons. Although even is says “This game is probably fair”, it is quite unlikely to get that. But hey, the effort is pretty small, so I guess you have to accept that you need to press quite a few times to that. So enter the “captcha” and click “Roll” and see how lucky you are…..

I got the minimum account in the screenshot below as you see. So I will give it another try in an hour.

There is a “I don’t want to wait” link there too, but this function is currently disabled it seems. I will update this review, if things should change in the close future.

Of course you can also withdraw the coins you earned. There is a minimum of 50USD to be withdrawn – to save on transactions costs I guess – so you need either quite a few spins or at least a lucky spin.

CoinFaucet also offers a referral program where you can earn 50% of what your referrals make. You will find your link at the top where it says “Referral”.

How does CoinFaucet make money themselves? Well, as mentioned in the introduction they advertise on all their pages and earn their money via these ads and pass on these earnings to their visitors by paying out all of these tokens.

If you like to give Coinfaucet a try and earn some free coins and tokens, please feel free to use also my referral code. Many thanks for your support and good luck in spinning that wheel.

I will continue to play around with it. Although I am remain skeptical due to the high threshold of withdrawals: Getting ever to the 50 bucks sound almost like it either takes ages or you need an army of followers. Also not sure how active the team behind the faucet really is anymore… Any one knows more here?

I think there are better portals with better reputation out there like Cointiply, which I am testing at the moment. Review to follow of course.