Loadteam Review: Very Poor Payout, Poor Interface, Thin Corporate Profile

[james.hendrickson]

SA Community,

Following my post on Honeygain, I wanted to share my experiences with Loadteam. Loadteam is another application that allows you to make passive income using your computer. The main idea behind it is, download the application onto your harddrive, let it run and get paid. Loadteam's business model basically works by mining cryptocurrencies using distributed computing. Their application makes use of unused harddrive computation power. It downloads part of a cryptocurrency problem set onto your laptop, cracks it, then sends it back to Loadteam.

I've had Loadteam installed on my laptop for about a month. This was my experience.

1. Very low payout. Loadteam credits your account with 40 cents when you get started. So far I've earned 26 additional cents. I have the software installed on both my work computer and my home computer, and devoted 20% of my processor's cycles to the application. So, the rate the application pays really isn't worth the install time.

2. Their application fails to load consistently, and causes the computer to occasionally freeze.

3. Loadteam has a thin corporate presence. From a brief review of their LinkedIn and other social media profiles, they're located in New Zealand, which is fine. However, per LinkedIn, they've only got a couple of employees. With a small company there is always a bit more risk. Unlike a large company, Microsoft for example, Loadteam may not have the funds to payout it's partners or they may not be able to release updates or fix security holes in a timely manner.

My take on Loadteam: don't bother. I will likely be uninstalling it.

Here is a screenshot of what the app looks like after it is up and running on your desktop.

Loadteam's website is here.

If you want to navigate to the Honeygain review, that write up is here.

[Jluke]

Your work computer? Are you self employed?

I can’t imagine an employer being ok with that.

[bjl584]

I don't understand how this could possibly be worth anyone's time.
How does a business model like this even survive?

[HundredK]

I don't understand how this could possibly be worth anyone's time.
How does a business model like this even survive?

We mined crypto for a while. The thing is that you need a powerful computer to make any real money. And if you have a powerful computer, you need low electric rates as we discovered (oh man, did that do damage to our electric bill). And now that everyone is mining, it's harder and harder to get in the game with the right equipment that will be powerful enough. I have friends who were mining crypto WAY before most people knew it existed, and that turned out pretty well for them. Like most things, if you've heard of it, it's not likely to be a very profitable thing anymore because the true nerds will have already capitalized on it.

[disneysteve]

There are numerous time tested ways to make some extra money on the side without a whole lot of effort. It seems like a waste to seek out fringe ideas like this.

Heck, this week is actually one of the best times of the year for my favorite method which is buying up items that are clearanced after Christmas and reselling them. I've done very well with that over the years. A simple trip to your local Hallmark store the day after Christmas to buy ornaments at 75% off can get you a nice return, for example.

[amarowsky]

SA Community,

Following my post on Honeygain, I wanted to share my experiences with Loadteam. Loadteam is another application that allows you to make passive income using your computer. The main idea behind it is, download the application onto your harddrive, let it run and get paid. Loadteam's business model basically works by mining cryptocurrencies using distributed computing. Their application makes use of unused harddrive computation power. It downloads part of a cryptocurrency problem set onto your laptop, cracks it, then sends it back to Loadteam.

I've had Loadteam installed on my laptop for about a month. This was my experience.

1. Very low payout. Loadteam credits your account with 40 cents when you get started. So far I've earned 26 additional cents. I have the software installed on both my work computer and my home computer, and devoted 20% of my processor's cycles to the application. So, the rate the application pays really isn't worth the install time.

2. Their application fails to load consistently, and causes the computer to occasionally freeze.

3. Loadteam has a thin corporate presence. From a brief review of their LinkedIn and other social media profiles, they're located in New Zealand, which is fine. However, per LinkedIn, they've only got a couple of employees. With a small company there is always a bit more risk. Unlike a large company, Microsoft for example, Loadteam may not have the funds to payout it's partners or they may not be able to release updates or fix security holes in a timely manner.

My take on Loadteam: don't bother. I will likely be uninstalling it.

Here is a screenshot of what the app looks like after it is up and running on your desktop.

Loadteam's website is here.

If you want to navigate to the Honeygain review, that write up is here.

good move man. I'd say most of these type of (lease your hardware/connection/power consumption) are not worth it.

Also them saying "using your hard drive's computing power" seems Phishy right out the gate. (seems like they're trying to confuse folks, as hard drives don't process data in the same since, they are a store of information , more plainly put. )


At this point only thing worth mining would be a decentralized crypto. And as mentioned above, unless you're using the proper hardware (an iteration of ant farmer or something similar) , it's likely you'll be on the loosing end of the value ratio off the bat. Unless your mining the next crypto to go stellar, and I think there are too many crypto's to count these days.

What I think would be MOST interesting!
*Set up a solar powered mining rig to run. This may require a few 100 Ah deep cell batteries + solar panel(s) + controller/solar setup accessories + computer. (this will be an expensive project). But if you could get enough battery power stored up to run a 2nd hand purchased Antminer off the battery bank. And you essentially are harvesting free energy and converting Photons ---> Stored Electrons --> Bitcoin. (expensive to set up, and likely limited power to run the computer, but it does satisfy the Ratio value for mining! (cost of energy : value created). lets see how long it would take you to get in the black (assume about $300 for (3)batteries, $200 for (2) panels, $200 for controller/setup stuff, $200 used Antminer v.9, $200 for additional incidentals = $1,100 ish project sunk cost, before you get some profit).

I think it would be a fun project! If you can get the energy cost controlled, you're golden pony boy. I been SOOOO interested in setting up a small solar project attached to the back of my garage or shed..... But too cowardly to pull the trigger just yet