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i was given this address as a mining node but not sure its legit?


korpin
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I was getting about 1.5% per day on my USDT wallet balance (with ETH awards every 4 hours) over a week which is great if they are legit!  I'm trying to use Etherscan to understand the Token Allowances for the eth-prime.co contract. I'm learning so this may take some time.

Source:  https://newsletter.banklesshq.com/p/how-to-protect-your-ethereum-wallet

 

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I'm back to wondering if eth-prime.co/#/ is legitimate or not.

It was paying me about 1.3% daily on the USDT in my Coinbase Wallet balance which was great! Then I came across posts on Reddit discussing scams with similar sounding URLs and became concerned.

I used https://tac.dappstar.io/#/ through my Coinbase Wallet to check my USDT token approvals on the smart contract and it was "unlimited" which freaked me out! So I used the edit button to set the Spender Allowance to $0.00. (it cost me $12.28 in ETH to edit it).

The person who told me about eth-prime.co/#/ said that I won't be paid awards anymore with the new token approvals that I set. They said my wallet was safe (before) and that they needed it to be "unlimited" so I could do "pledge-free" liquidity mining.

Am I overreacting here? I really liked that 1.3 % daily!

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what is the mininum you can put in to start mining?..can you put in a value for spending above 0.00 but lower than unlimited?.....i heard from one dude he said you get rewards for awhile then they start asking for more eth.....can they take your original investment?....or just the amount you have in spender allowance?

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Yes, I suppose a small amount like $1.00 would work.  I edited the smart contract using https://tac.dappstar.io/#/ to increase the token allowance from 0 to an amount that I'm willing to lose. I'm now getting ~1.3% of that amount daily. I'll do this for awhile until I can research lower risk alternatives. I'm greedy and addicted to the daily returns 🙂 

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i THINK I understand what you are saying now...lets say your initial investment is 1000.00 and you set the allowance limit at say 1500.00...i am guessing it compounds daily (?)...so when you reach 1500.00 your interest payments will freeze at 22.50? per day (1.5%)????

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I think you be given awards based the 1000.00 USDT investment NOT the awards which are paid in ETH. I think to get compounding you need to convert the ETH awards to USDT. (the mining fees will diminish your gain especially if you convert low ETH amounts so wait until you amass significant ETH).

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Hey korpin, be careful of eth-prime.co.  I thought I was on a good path with them by earning awards while limiting the max amount that they could take.  In fact I made like $10K USDT over about 6 days. However, they began a "campaign" which took the entire (allowance limit maximum, let's call it MAX_USDT) out of my wallet and moved it "temporarily" into the mining pool. (see screen_shot below)

screen_shot.jpg

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On 11/9/2021 at 4:09 PM, korpin said:

please keep me posted i am thinking of doing that...how long would it take to get back all you spent converting into usdt and transferring and matching your entire investment??

I think you are asking about the network fees (also called mining fees) on the IN/OUT of your investment. Let's consider all of them. First there is investment (USD -> USDT) fees; Second the ETH awards (ETH -> USDT) fees; and finally cashing out (USDT -> USD).

So maybe a better question is, what is the minimum investment amount into the liquidity pool of eth-prime.com/#/ that is worthwhile? (Obviously the more the better but we want to minimize loss too)

You have to run the numbers but my estimation is that $2000 is about the minimum.  (the fees are supply and demand based so they vary, but let's assume $40 each and there are 3?)

What's so good about eth-prime.com/#/ is that they pay 1.3 to 1.5% daily awards (remember in ETH).

So an investment amount of $2000 over 10 days would get you like ~9% return.

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that "campaign" you mentions EXACTLY what I was warned about...i person i know said they give you rewards for awhile then ask or take more....I HOPE you get it back..hopefully your allowance was lower than the anount you made PLEASE keep me posted!

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3 hours ago, korpin said:

you said you made like 6,000 over 6 days??..i am thinking then like 100,000 then?...HOPEFULLY they did not take that much???

After about 6 days I set the token allowance to half that amount, $50K.  (I was drawn in by the high award rate)

Where did you hear about eth-prime.io?

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from a woman online.....she seems a bit too anxious to help me even sent me $50 of ETH so i would complete transaction became very angry when i said i needed to do a bit more reserach i am wondering if you will indeed get 3 times and/or get original 50,000 back good thing you reduced it by half!

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I'm including the following keywords to help others when searching for eth-prime.co the scam liquidity pool provider:

Lossless liquidity pool mining pledge-free

eth-prime.co CoinBase wallet

eth-prime.co/#/

"eth-prime.co"

eth-prime.co is a scam, transfer your funds to another wallet that you control!

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