Reply to: 4% - 7 % return on investment monthly.

[cojak]

Well we've had a bit of a giggle but you'd be an idiot if you fell for this.

And if europetractor tries to push this again I'll ban him.

[scooterscot]

I'm a synthetic CEO manager. Would you like to bet on the outcome of that bet?

[TheFaQQer]

I make money whether the price goes up or down.

Sounds to me like you guys a couple a bookies

[AtW]

Mugcoin

Right now crypto legend is very popular among Ponzi scheme makers - gives that background of neverending growth

Fraudsters generously pay referral fees to thise whi refer mugs to them

[BrilloPad]

Gullcoin?

Or maybe

Coinitin?

Maybe admin should check the PMs first? He might have a few who have fallen for it.....

[cojak]

Let's think of a title for ET

Gullcoin?

Or maybe

Coinitin?

[BrilloPad]

Let's assume you net 5% each month. Starting with a £10k pot will yield you £180,000 after 5 years. That will grow to £3.5million in 10 years.

If you're making so much money, why do you need my money?

I remember the dragons asking the electrical box owner that once. He said he did not want their money - just their contacts. In this case we have only been asked for money so far.

Though I think it would have been better phrased as a new tax avoidance scheme. There still seem to be some who fall for that!

[ChimpMaster]

Let's assume you net 5% each month. Starting with a £10k pot will yield you £180,000 after 5 years. That will grow to £3.5million in 10 years.

If you're making so much money, why do you need my money?

[DaveB]

I'll return 12% for those interested.

They are a number of crypto coins out their that are proof of stake which will return 4%-8% per year even if they do not increase in value.

But only if you are actually able to cash out into fiat currency. Have a read of the FT article to see why this may be an issue.

[scooterscot]

I'll return 12% for those interested.

They are a number of crypto coins out their that are proof of stake which will return 4%-8% per year even if they do not increase in value.

[BrilloPad]

5-7%/month, Low risk. Cool.

Here's my offer: I will invest and take the 5% return. Anything over that you keep, anything under you cover yourself.

What do you say? Can't miss. Let's go!

If it was really a proper fund, like green apex or white stone or whatever, they would charge 2% per year. And 20% of any return.

[pjclarke]

5-7%/month, Low risk. Cool.

Here's my offer: I will invest and take the 5% return. Anything over that you keep, anything under you cover yourself.

What do you say? Can't miss. Let's go!

[BrilloPad]

So your proposal is essentially that people hand over their money to you so you can speculate on crypto-currency with other people money?

With no guarantees, no regulatory frameworks, no legal liability and no form of redress when it all goes horribly wrong?

https://www.ft.com/content/61cdc5c8-...4-9023f8c0fd2e

As its behind a register wall: -

Crypto currency offerings spur speculation frenzy

The latest online investing craze has shades of dotcom exuberance


Most organisations have their share of IT workers who slip under the radar. But what is that quiet tech guy really up to when he should be fixing the server?

He might be pursuing a new career, speculating in crypto currencies. In virtual terms at least, he could soon be earning 20 times his annual salary as he joins the latest online investing craze that has shades of dotcom exuberance.

Using digital money loaned on an online exchange, IT staff at mainly financial services companies are betting on “alt-coins” during working hours.

An investment of just a few thousand dollars a month ago in a newly fashionable currency called Muse is now worth close to $500,000. Last week alone the price rose 278 per cent. At the current trajectory, the IT guy will be a dollar-millionaire by Thursday.

Except these are not real-world dollars. This is virtual money, one of the many variants on bitcoin — the original crypto currency that has been around for more than eight years. But there is a speculative frenzy for a new line of investment in the crypto market through initial coin offerings (ICOs).

Initial coin offerings appeal to people who have a lot less competence to evaluate what they’re investing in

Aping the real-world process of floating a company on a stock market, this crypto version involves a group publishing a business plan — commonly known as a white paper — and then promoting the sale to speculators through internet forums. The ICOs raise money in existing crypto currencies, mostly bitcoin and another popular token called Ether.

Many of the more than 830 so-called alt-coins now on the market are bitcoin copies in their own right, others are simply contracts that sit embedded in other cryptocurrency protocols such as Ethereum — a platform that mimics bitcoin’s blockchain technology but adds a smart contract feature.




The phenomenon is reminiscent of the early days of the still-unregulated eurobond markets, which mushroomed in size in the 1960s and 1970s and became an important source of alternative dollar funding for corporations frozen out because of stricter money controls.

In the style of penny stocks, for every successful token issued there are many more that fail. With ICOs, uncertainty over exactly what it is you are buying adds to the risk.

“People are willing to spend on something, but they own nothing. It’s a promise from a development team which may or may not be useful to people in the market” said Arthur Hayes, a trader for crypto-currency derivative exchange BitMex. “I think it’s interesting that people can raise $10m in minutes based on a dream.”




Frozen in cyber space
Huge wealth built trading crypto currencies is worth nothing if it remains frozen in cyber space — a state of frustration readily understood by customers of Hong Kong-based Bitfinex, one of the most prominent and popular bitcoin exchanges globally.
In August last year, Bitfinex suffered a cyber hack that saw 120,000 bitcoins stolen from customer balances. As compensation, the exchange issued IOUs called BFX, but those digital promises were subsequently redeemed earlier this year, with customers having their accounts at Bitfinex credited with dollar balances.
As customers moved to withdraw those dollars it emerged that Bitfinex was suddenly unable to process these transactions. On April 13, Bitfinex officially alerted customers to the fact it was “experiencing delays in the processing of outbound USD wires to customers” because “the normal channels that we have been operating through in the past are currently unavailable”.
The issue was unilateral action by those correspondent banks Bitfinex had been using as a gateway to the world’s real money payments systems.*
On April 17, the exchange announced that “all incoming wires to Bitfinex will be blocked and refused by our Taiwan banks,” adding that it was continuing to work on alternative solutions for customers who wanted either to deposit or withdraw in fiat.
Panic spread through the ranks of customers as Bitfinex prices diverged from all other exchanges by more than $200, leading some reportedly to fly to Taiwan to open local bank accounts in the hope of accessing frozen funds.*
A video has surfaced where Bitfinex’s chief security officer, Phil Potter, says: “There’s been lots of cat and mouse tricks that everyone in the bitcoin industry has to avail themselves of,” adding that Taiwan was undergoing a clampdown on lax customer identity procedures and the potential for money-laundering

[BrilloPad]

As your scheme is so good, why are you letting others in?

[DaveB]

So your proposal is essentially that people hand over their money to you so you can speculate on crypto-currency with other people money?

With no guarantees, no regulatory frameworks, no legal liability and no form of redress when it all goes horribly wrong?

https://www.ft.com/content/61cdc5c8-...4-9023f8c0fd2e