In today’s post, I exposed BTCs Mining or Satoshi Chain, a scam project that poses as a crypto mining app.
This app promises to reward users with BTCs which they can later exchange for Bitcoin (BTC).
Considering that Bitcoin remains the highest-ranking cryptocurrency, it is tempting to jump on any chance to get it for free.
Little wonder why it went viral on WhatsApp:
Already, it has recorded over one million downloads on Google Playstore.
But is the BTCs mining app worth the stress? Or, is it another Pi that will burn your data for nothing?
Keep reading to find out!
Post Summary
- What Is BTCs Mining?
- How Does BTCs Mining Work?
- Why The BTCs Mining App Is A Scam
- Conclusion
Update On BTCs Mining App Scam
Click on any item above to read its details immediately.
1. What Is BTCs Mining?
This is a mining app that supposedly rewards users with bitcoin when they mine BTCs.
It was released in February 2022 by an unknown team.
According to its white paper, BTCs is the native token of the Satoshi public chain that is used for transaction fees.
BTCs was coined from the combination of Bitcoin’s ticker – BTC and the “S” in Satoshi.
Also, it claims to have a community that is committed to the growth of the Satoshi public chain.
Additionally, the total supply of BTCs is 2.1 billion coins.
The plan is to release them first, via mobile mining; and later, via on-chain decentralized node mining.
Interestingly, it intends to launch its mainnet in the third quarter of 2022.
Let’s talk about how this platform works in the next section.
Keep reading!
2. How Does BTCs Mining Work?
BTCs mining operates like the mobile mining apps we discussed in the past.
First, interested users download the app and then log in daily to mine the coin.
To register on the app, you’re required to provide an email address and set up a password.
For BTCs, users are required to tap on the mining button twice daily to earn the coin.
Unfortunately, I didn’t find any information on how many BTCs users can earn daily or how they can receive their bitcoin rewards.
However, it is stated on the whitepaper that there will be two types of validator nodes on the mainnet: Bitcoin computing power nodes and BTCs pledged spare nodes.
Also, the spare nodes are only needed when the computing power nodes are insufficient.
And this is supposed to convince us that the system will be supplying mainly Bitcoin? Very ridiculous!
Moreover, the team has plans of giving away free 525.6 million BTCs by December 2022 when the app mining will end.
Let’s discuss what makes this app a scam in the next section.
Tag along!
3. Why The BTCs Mining App Is A Scam
Let’s start with the anonymous team, they describe themselves as “loyal fans of Satoshi Nakamoto” and they claim that naming the public chain “Satoshi” is the perfect way to pay tribute to Satoshi Nakamoto.
Now, if we don’t know them, how do we know that they have what it takes to scale the platform?
Secondly, BTCs Mining claims to reward users with bitcoin but we all know that new bitcoins are only released when miners are rewarded for processing transactions.
And as such, tapping a button on a stray app cannot deliver bitcoin to you.
Besides, there is no proof of how bitcoin will be distributed to users.
All we find is a white paper full of jargon and diagrams that try to mimic a decentralized network.
There’s nothing we’re doing with that. 😠
[You may also like: Bitcoin Mining in Everyday Language – A Complete Guide (2021)]
Furthermore, I downloaded the app myself to see how it works and surprisingly I didn’t see where to mine the BTCs.
All I saw was information on moving cryptocurrency prices and trending coins. It beats me, really.
Obviously, these guys are just using bitcoin to lure people to download and register on their yeye app. Mtcheew!
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4. Conclusion
This is not the first time we’re learning about a crypto mining app and I’m pretty sure it will not be the last.
We’re always disappointed at the end because it remains a circle of tapping the app every day and updating the app regularly to keep mining.
All the while, you’re burning internet data, and watching annoying ads, only to receive coins that are worth nothing (if at all you receive any).
BTCs Mining wants the public to believe that users of the app are rewarded with bitcoin yet they didn’t show us how.
Sadly, it appears to be bait to get people to download, use the app, and amass wealth for themselves.
I mean, it has 1M+ downloads already. ☹️
Please, don’t waste your time on this app.
Let’s draw the drapes here and I hope this article was worth the read.
I’d like to know if you downloaded this app too and what you think of it.
Tell me in the comments section right away!
Also, share this post with your friends, thank you!
5. Update On BTCs Mining App Scam
A few weeks after this post was published on the 6th of July 2022, I have been receiving messages from the users of this app that the information in this post is misleading.
So, I decided to go back to the app and see what has changed.
Guess what I found? A mining button that was not there initially.
To start mining, I was required to do a selfie verification.
Now, as the mining button is rotating, I’m earning CORE coins (no longer BTCs).
Moreover, when I click the “MyAssets” button, I see some BTC rewards too but all the coins are frozen.
I guess when the mainnet is launched, I’ll see if I can cash out these earnings.
If you are wondering whether this has changed my mind about BTCs Mining App being a scam, the answer is “NO“
Looking at the mining page on the app, all I find are figures and words put together to convince users.
However, because “hash”, “block”, “mining”, “miners”, are mentioned here doesn’t make this app legit.
And neither does the sugar-coated tweets or outrageous following on Twitter.
Nothing in the crypto space is 100% guarantee, and that’s the vibe I’m getting from the platform’s tweets and reviews on TrustPilot.
Besides, I saw some Tweets by worried users and something about mining on the app for 80+ years.
Again, who is waiting around for 81 years for rewards? Are these people jokers?
Then I follow a link on their pined tweet to see that users can increase their earning by tapping a code on the white paper for 100 times. 100 times! Really!
Did I mention the tweet that suggest that users can refer more people to increase their rewards?
Final thoughts…
For an app that promises users free bitcoin, BTCs Mining is asking for a lot.
Aslo, I see 100% guarantee of returns (with no risk warning), insistance of referrals, and inconsistency with features/reward type as red flags.
Nevertheless, if anything changes whether positive or negative, I’ll come back here and let you know.
Stay tuned!
this people alaso f*ck my money. its a little amount but money is money. the site is ypp49.cc if they are inviting you, never trust them. the reception named in telegram as vanessa (vanessa066) and the teacher is frank (frank9599). they are using different bank accounts and their modus is via youtube click as a subscriber. they will send you money for the first time but if the bank hold your money for clearing, they will f*ck it up
shay ina day whine me nii!!!!!!!!!! they neva still launch am o lollll thank you chiamaka atueyi
I am expecting another review from you on how it is a scam because the price is not as you expected it.
Everyone is now a crypto expert in Nigeria. SMH 🤦🏽♂️
Hello Solo,
We already did.
You can check it out here:
Hello, so what is now your conclusion on the dumb journalism?
Hello Solo,
Great to have you again.
We are still hoping you will educate us better.
Dem later launch am o hahaha.
$CORE is a potential coin you should invest in!
Really?
😹😹😹😹😹. Let’s wait and see boss. Few days to go 😆
Not true pls. They were upgrading then and doing maintenance on the app. Mining ended on 15th December 2022. Airdrop is on. Transfer to mainnet will happen on 8th, February, 2023. Chi should better do a proper review. Coredao_Org is obviously not a scam after all.
We will wait and see then.
Thanks for reading through.
Chiamaka thanks for doing such great investigative work. All my friends in Cameroon are raving about this app, and it really breaks my heart to see. We need more good journalism like this. Sorry to see all the hate you’re recieving. What a shame.
Make i no talk anything
Chiamaka make una no run oo… i dnt know who owns that little satoshi account but if una eat any money from Core it will purge una… mtchww
Hello Zubbymichaels,
Thank you for taking the time to read through the post.
You can help to share some evidence so we can understand better.
Dang!!!
You are such a bitter soul.
Even your replies are laced with concealed quarrelsome tones despite Trying all you can to sound professional.
YOU ARE BITTER!!!
trying switching to reviewing market prices of Tomato and Onions please.
Again Jude, thank you for reading through this post. You indeed took your time while at it.
The subject here is BTCs Mining App; let’s focus on it and leave out tomato and onions, please.
Like I have always asked, can you help to educate us better on the subject matter or better still, send us some evidence to work with?
This way, we will be better informed and write the review afresh.
Truly, I actually smell hate all over the post.
Looking at the updated section, it is very evident.
Thank you for taking the time to read through the post.
Can you further explain your statement, please?
how old are you?
you should have waited for clarification…or say nothing since your ‘facts’ weren’t facts but assumptions….. please get your facts right okay.
Hello Chris,
Thank you for taking the time to read through the post.
If you will be kind enough to point out the parts where the ‘facts’ are mere ‘assumptions’, we will learn and make adjustments.Thank you once again.
I will come back to this post soonest📌
Alright
Great read and thank you for posting your opinion about this app. I to got wrangled in but now I see a lot more with clarity!
By the grace of God y’all gonna see that’s real and well legit
We’re not gonna Miss this just the way missed BTC not this time okay
I’m not even doubting okay
Since I said ‘GOD’That’s all
Me i don’t even know why you guys be like that kinda jealous…. Mtswww
Hello Marzuk,
No hard feelings whatsoever.
We merely shared our findings.
If our claims can be proved otherwise, we are open to learning from you.
Then, What is your recommended platform for mining?
Hello Saeed,
We do not give financial advice.
I advise you DYOR before choosing a platform to work with.
Your analysis of the project is so poor that I wonder if you have knowledge of Crypto at all.
You were only Criticizing with the hate you have in mind for the project, gush! …, and you have followers who listen to you.
Infact, you have no business in advising on crypto in general, a newbie will do better than you.
Very pathetic.
Hello Solo, thank you for taking the time to read through the post.
Just so we are clear, there was no ‘advising’ at any point; we do not give financial advice.
All the author did was give her opinion on the subject matter being worked on.
And as you read through, pointing out the parts of the ‘analysis of the project’ that is ‘so poor’ will help a great deal.
I mean, with how well-versed you are in crypto, you can help us do better than a newbie with your explanation.
Kind regards.
NB: That particular line about ‘criticizing with the hate you have in mind for the project’ is hilarious. And errhmmm…I think that exclamation is ‘GOSH’ not ‘GUSH’
I don’t know what to tell you, but you have made more people to lavish in poverty just cos your ignorance, pls next time be sure before you mislead people, many people missed this opportunity just cos of this your right up
Hello Max, I’m glad you took your time to read through.
If you will be kind enough to point out the ‘misleading’ parts in the ‘right up'(I guess you meant ‘write up’), I will greatly appreciate that.
Kind regards.
I hope when the main net is finally launched and core is being traded that you will come back and apologize
We will see about that.