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[Malcolmw13]

So lately an acquaintance on facebook has been trying to get me to join this bitcoin trading site.. obviously it does have elements of a multi level marketing job but it is still intriguing. The idea is to invest a certain amount and the "traders" trade your bitcoins on the market and you get a certain return on investment depending on how much you yourself have initially invested.. The higher the initial investment the more the return percentage.

Obviously if you get some people under you doing the same even higher returns. He has shown my screenshots of the deposits into his wallet and I must admit it does seem lucrative..


Any thoughts on this?

 

[Crystal]

sounds like Ethtrade website.
You will never find out if a website is really trading or not, behind the scenes, and the proofs of trading can be faked .
In trading there is a high risk to fail and lose money (lots of them) and i doubt the members payouts will be stopped if the website is losing money, which means the website is not trading, is just using members' deposits to pay another members. This is called ponzi or hyip.
I have deposited to such website,ethtrade ,but minimum required of 10$, in bitcoin . I don't expect to get the ROI back in my wallet even if i see good numbers on the screen. Only when i recover my ROI i will say that trading-for-you website is worth investing again, but minimum required.
I guess you know the 2 golden rules of investing through internet :
1. Don't put all your eggs in one bascket.
2. Do not deposit on online-money-earning websites more than you can afford to lose.
And the silver rule is always deposit the minimum required and only if it's maximum 10$ so the loss won't be very high.
Borrowing bitcoin to small businesses (such as online shops) through websites such as poloniex is more safe than depositing on so called trading website. Crowdfunding is something else and implies a higher risk than borrowing bitcoin officially.

 

[Malcolmw13]

sounds like Ethtrade website.
You will never find out if a website is really trading or not, behind the scenes, and the proofs of trading can be faked .
In trading there is a high risk to fail and lose money (lots of them) and i doubt the members payouts will be stopped if the website is losing money, which means the website is not trading, is just using members' deposits to pay another members. This is called ponzi or hyip.
I have deposited to such website,ethtrade ,but minimum required of 10$, in bitcoin . I don't expect to get the ROI back in my wallet even if i see good numbers on the screen. Only when i recover my ROI i will say that trading-for-you website is worth investing again, but minimum required.
I guess you know the 2 golden rules of investing through internet :
1. Don't put all your eggs in one bascket.
2. Do not deposit on online-money-earning websites more than you can afford to lose.
And the silver rule is always deposit the minimum required and only if it's maximum 10$ so the loss won't be very high.
Borrowing bitcoin to small businesses (such as online shops) through websites such as poloniex is more safe than depositing on so called trading website. Crowdfunding is something else and implies a higher risk than borrowing bitcoin officially.

Thanks for breaking it down like that, when you describe it like that it absolutely sounds like a classic Ponzi scheme. However simply because it is a Ponzi scheme does that mean absolutely that no profit is to be made?

If I remember correctly the initial investment had to be $80 CAD which I felt to be worth it for the expected ROI. I haven't decided whether to proceed with this investment or not but if I do I'll definitely report back to this thread with more information regarding it.

 

[Crystal]

when you want or find a website to invest , first you need to look at the minimum to invest if not higher than 10$ not for the ROI. When you see a minimum to invest as maximum 10$ (1..10$) then you look for the ROI to see if greater than 120% specially when it's bitcoin because there are fees to pay for transaction (when you send) and a ROI of 120% can't cover the TX fees. (this is another trap on hyips)
80$ cad ( i guess canadian dollars) is still way to much to afford to lose because i bet you are not a millionaire otherwise you wouldn't write on forums and/or get tempted in such websites . Amillionaire does not invest in ponzi he will invest in real assets .
Such websites to invest are poping out every day like mushrooms so you will have to ignore many of them.
And don't get deceived by advertise or banners with big numbers such as "3000% profit" .

 

[Malcolmw13]

when you want or find a website to invest , first you need to look at the minimum to invest if not higher than 10$ not for the ROI. When you see a minimum to invest as maximum 10$ (1..10$) then you look for the ROI to see if greater than 120% specially when it's bitcoin because there are fees to pay for transaction (when you send) and a ROI of 120% can't cover the TX fees. (this is another trap on hyips)
80$ cad ( i guess canadian dollars) is still way to much to afford to lose because i bet you are not a millionaire otherwise you wouldn't write on forums and/or get tempted in such websites . Amillionaire does not invest in ponzi he will invest in real assets .
Such websites to invest are poping out every day like mushrooms so you will have to ignore many of them.
And don't get deceived by advertise or banners with big numbers such as "3000% profit" .

Thanks for grounding me a bit. Absolutely you hit the nail on the head that a successful person learns to invest in legitimate assets; it is tempting though. Regardless this conversation has definitely persuaded me against trying this opportunity and better managing my time to invest that in something more profitable (and safer).

 

[aryan4]

It is very popular to trade btc and other coins in stock markets.
7 days 24 hours operation.
Some technical knowledge, some general knowledge and patience.

 

[Blende]

It is very popular to trade btc and other coins in stock markets.
7 days 24 hours operation.
Some technical knowledge, some general knowledge and patience.

True talk
You just gave all the quality one needs to have before venturing into bitcoin trading

 

[aryan4]

Maybe you can think I overdo it.
But certainly the key to richness or better living is hidden in the trading of BTC and other coins.
I invite you to learn the subtleties of this work.

 

[Kambas]

It is one of the craziest things to watch at the moment!
How Bitcoin goes up and down.

Today it was near the $4200 mark and now just dropped under $4000 again.
Up and down like a sew-saw!

 

[BMF]

I don't think so... there is a long road... impossible this year in my opinion, will see.

 

[krious]

Certainly the massive shifting of the price is very fun to look at, but with how unstable it is going, large potential problems might arise with cryptocurrency. This is supposed to be the new age of currency however its movements seem more like stocks than actual currency...

 

[Kambas]

I don't think so... there is a long road... impossible this year in my opinion, will see.

I didn't mean this year though... it's overall potential and since it's limited and not many people know this yet, could that potentially boost the value again when more and more people get on board?

 

[ipol12]

For now, my answer is no. But I am open to the possibility that it will reach $100,000 though not in the near future. It just reached more than $4,000 yesterday, and I am very glad because the money I received has higher value now. But I hope it goes up gradually, and not abruptly. For now, let's watch and see what happens to Bitcoin value in coming days.

 

[Kambas]

For now, my answer is no. But I am open to the possibility that it will reach $100,000 though not in the near future. It just reached more than $4,000 yesterday, and I am very glad because the money I received has higher value now. But I hope it goes up gradually, and not abruptly. For now, let's watch and see what happens to Bitcoin value in coming days.

I hope this site stays alive for at least a few years for us to find out and keep reporting on the progress, it will be interesing to see what happens with bitcoin by the year 2021. It won't be THAT long to wait

 

[ipol12]

I hope this site stays alive for at least a few years for us to find out and keep reporting on the progress, it will be interesing to see what happens with bitcoin by the year 2021. It won't be THAT long to wait

Hopefully! It depends on our dear admin Mr. B. Hope he can make this site sustainable just like another forum site still very much alive. I wonder what will happen to Bitcoin after five years, as well as other altcoins. Perhaps, new altcoins will even exist. But Bitcoin will still be at its peak.

 

[stiffany162]

Yes, but years will pass and surely bitcoin will reach that amount. So better to invest now while the price is not that high.

 

[BMF]

To be honest I'm scared to keep money on BTC wallet, today when I received 100$ worth of Bitcoins because one advertiser bought an advertising slot for one month I quickly exchange it for PayPal. Will upload soon a video how I have done this because I recorded all, I believe there are more people looking to exchange bitcoins for PayPal. So this will be helpful.

 

[stiffany162]

To be honest I'm scared to keep money on BTC wallet, today when I received 100$ worth of Bitcoins because one advertiser bought an advertising slot for one month I quickly exchange it for PayPal. Will upload soon a video how I have done this because I recorded all, I believe there are more people looking to exchange bitcoins for PayPal. So this will be helpful.

Hi admin, Im curious why you dont like keeping bitcoins? Btc keep its rate high and your $100 can be doubled or tripled in a shorter time.

 

[BMF]

Hi admin, Im curious why you dont like keeping bitcoins? Btc keep its rate high and your $100 can be doubled or tripled in a shorter time.

Well, as I said Bitcoin is going up and down, I decided to move money to my PayPal and pay BMF members very fast.
While it can be doubled or tripled it can also be lower 2 times or more. So it's a risk I'm not willing to take!

 

[ipol12]

Well, as I said Bitcoin is going up and down, I decided to move money to my PayPal and pay BMF members very fast.
While it can be doubled or tripled it can also be lower 2 times or more. So it's a risk I'm not willing to take!

That's the downside of Bitcoin and other crypto currencies. Their value either goes up or down. You can't easily predict the value because it is fluctuating. That's the reason why I immediately converted to our money because of possible dip of its value.