Bitmain.com

They say that Bitmain.com, a cryptocurrency mining industry, has entered a new stage of maturity and stability. But the experience was just contrary to this. You buy a product from them, pay the total amount, but they do not deliver. 

Bitmain is taking advantage of its no refund policy. After I got scammed, I realized there are many cases. People have purchased Bitmain products but received faulty products they cant use.

I purchased the Antminer S19 pro this time as I was thinking of setting up my Bitcoin mining rig. I was attracted by how well they advertise it saying it's the future of mining; its hash rate and power efficiency look amazing. 

In January 2020, I purchased the Antminer S19 pro. I followed the protocol and filled the form, and in the process, I realized that they accept Bitcoin as the only payment method. Therefore I decided to buy the most considerable quantity of Bitcoin cash to pay for the miners. After making the purchase, Bitmain confirmed my payment. All that was left for me was to now wait for the miner. 

Bitcoin mining hardware was and is still in demand at the moment. I knew it would take some time before I received it; that was not a problem. 

Bitmain scam

Come May the same year, I heard about the Bitcoin scam. I immediately started getting worried about my miners since I had not heard of anything about my consignment. I was directed to customs. When I tried to do the clearance, I was asked for stamped invoices for the products. I had to go back to the emails from Bitmain.com and found some stamped invoices. I presented them for clearance, but it happened that they were for the power supply unit only. 

I decided to look for the invoices for the Antminer again to see whether I will find any but in vain. This is the point where I started sensing danger. Emails had all the details for the order, but only one invoice was attached. Unfortunately, I failed to notice this while making the purchase. 

The next step was to contact Bitmain.com, which I did. They ignored my calls and my emails for over two weeks. After nagging them for so long, they replied to one email with what seemed like copy paste. They even ignore their support requests. With the lack of the stamped invoices clearly, I would not have been able to do clearance at customs. At this point, with the look of it, I realized I was scammed. Bitmain is a 'professional scammer.' I do not think I am the only one who was scammed in this manner. I am sure I am just one among many. 

It seems that Bitmain received back the Antminer and sold it to someone else already. This is the only reason why they did not provide the stamped invoice. That is the only reason making sense. Probably they had even sold it before then; it was returned and sold to me, and the cycle continues. 

How sad this is for a company that looks so legit. While I was purchasing the Antminer, the Bitcoin price increased incredibly. I got scammed by the so-called best mining hardware company.

Bitmain, the most prominent cryptocurrency mining company, has recently introduced wire transfer. This must have been after so many complaints and the fear of losing the license. Only individuals purchasing using Bitcoin are scammed. It was the only payment method that was accepted when I bought the miner. It can be a bit tricky for them to scam those using the wire transfer.

Update on Bitmain

After the scam, I have decided to research more about Bitmain every so often. I discovered that they are in control of the whole mining process. They are in the power of the blockchain and any potential fork that may happen. This means that Bitmain controls Bitcoin. 

I realized that they are sending newsletters to their clients informing them about the changing of their headquarters location. Others were for advising clients about the release of their new product, the Antminer A3. in my opinion, it seemed like another way to scam people. 

Bitmain held a crypto mining forum online for the North American Region on 13th April this year. It was a forum to discuss the current state and the future development of the cryptocurrency mining industry in the region. 

Since 2013, when Bitmain was established, the company has not put in an effort to advance. As a result, no advanced technologies and innovations have been put in place to move the industry forward ever since. 

Irene Gao, an Antminer, announced the new global sales strategy from Bitmain. It is said that the company will adopt a new ordering method with insured clauses for users. They also introduced an annual batch order purchase for Antminer S19J Pro. This is to meet better-growing market needs for the mining hardware. 

To me this can be another way of scamming people. The Antminer will definitely attract more clients and hence higher chances of scamming them even more. 

My verdict

I think that a huge step should be taken on Bitmain company for scamming people. Bitmain is making the cryptocurrency mining industry look so bad. The industry in general, should look for ways of punishing them. They can suspend them for a while to learn their lesson.   

The introduction of wire transfer was a great initiative. The clients will be safe. 

On the other hand, I will try other mining pool companies, some of which include:

Baikal

These miners have successfully won high evolution and recognition due to their high-cost performance and stability. This is a plus for them, and I would consider them. 

Bitfury

This is one of the leading emerging technologies companies. Its unique combination of ultra lower prices combined with the best available equipment in the market. It's also an aspect I would consider.

Canaan

Canaan is distinguished from the rest for its superior cost efficiency and performance on supercomputing solutions. This is why most miners will prefer it to Bitmain. Canaan is also better than Bitmain for catalyzing the growth of a computationally advanced mining sector. This is due to the invention of the world's first ASIC-powered Bitcoin mining machine in 2013.

Innosilicon

I trust that its one-stop provision of high-speed mixed signals IPs and ASIC customization makes it better than Bitmain. Its team is devoted to providing the world's most advanced IP and ASIC technologies and has achieved stellar results. Most miners would prefer it due to their profitability and long-lasting nature. 

MicroBT

Miners would prefer Bitmicro to adhere to the business philosophy of extreme win-win and integrity to the provision of high-quality products and services. It also has the advantage of having passed the national high-tech enterprise certificate. 

Spondoolies

I prefer Spondoolies over Bitmain because of their focus on the future. They aim to foster a brand new ecosystem in becoming the standard for financial transactions. This will do away with the inadequacies and inefficiencies of the current financial industry.

They also aim to deliver the most potent solutions for cryptocurrency mining.

That was my first and only experience with Bitmain. Anyone with luck purchasing their ASIC Miner from the company? Let me know how it went.