ELI5 What was Oasis Mining?

ELI5 What was Oasis Mining?

Oasis Mining was an initiative by former crew from OALend Coin (OACCOIN).

The core business idea was to raise money via crowdfunding (ICO) in order to produce cryptocurrency mining machines.

Although the project’s Facebook presence mentiones “54 Appliance Photos“, the photos found there are promotional flyers. No actual hardware is pictured.

Oasis Miners?

There is a coal mining company called Oasis Miners, not to be confused with the cryptocurrency mining hardware development project.

Is Oasis Mining a Scam?

Basic due diligence reveals that Oasis Mining does present several troublesome indicators.

First of all, users seem to complain that withdrawal was unavailable:

Secondly the official website is down at the time of this writing.

In this flyer the official website is indicated as oasis-mining.com

Thirdly a Bitcointalk thread seems to raise concerns about the project.

References

As of early 2020 the Oasis Mining website is down

CoinTelegraph PR

Facebook

Bitcointalk Thread

 

on January 13, 2020