Topic: [Allegedly fake] Gelfman Blueprint: 7-11% Monthly Return on Your Bitcoin (Read 4939 times)

As almost or shall i say ALL Cryptocoin investmentschemes based on the idea of high returns generated by trading bots and an MLM pyramid:

THEY ARE ALL PONZI SCAMS

Update: https://cointelegraph.com/news/cftc-files-first-case-regarding-against-bitcoin-fraudsters

Does anyone think they could possibly have a sustainable method of making these kind of returns?  They say they are trading on Bitfinex.  How can they be compliant with US regulators but be doing business with bitfinex?  How do they trust Bitfinex with the customer funds?  Do they have some sort of personal connection you think?

The financial crisis is because 80%+ of the money in the world doesn't even exist. This isn't a secret, though. We work on a reserved banking system.

I do say the same thing about hedge fund managers. And multi-million dollar corporations too. When these guys opt to borrow to invest it only means they want to insulate themselves from any sort of loss. If their gambles don't pay off they claim bankruptcy and default the money owed. Look at the financial crisis across the globe. It's exactly this type of hucksterism that is to blame.

Sorry guys but the days of btc securities being taken seriously by anyone except desperate noobs are over. Any legit offering can get money privately. Everything here is hopeless.

pirateat40 is back again?  

and this:

I'm not seeing how that's in any way related to the thing I quoted. Explaining how they use the bot would literally fall under your "explain in detail how they are going to pay back..." statement.

Edit: I'm not saying this is a good investment. I'm steering clear, myself. Just saying that these arguments are invalid.

Stock brokers/mutual fund can do something that I can't by trading on my own, and they are dealing in much bigger markets where they don't have to worry about slippage as much as in the crypto world.

As for big companies borrowing, when they do they explain in detail how they are going to pay back and why it makes sense for both parties.

It depends more on return than anything. Would you say the same to the proven hedge fund managers? "I get that you've got a net worth of hundreds of millions but if you truly made money you wouldn't need mine?" That's asinine.

Walmart is a profitable company and even THEY borrow (as do PayPal, eBay, and tens of thousands of other profitable companies).

Whenever I see people pitching trading bots I can only think... If it actually worked, you wouldn't need my money.

If you are honest you have nothing to lose. Just remember that the whole point of this is for everything to be public on the blockchain so people are going to be looking for that and expecting it. Also, make sure you have a way to generate bitcoins and explicitly define how you will handle things if there is a major price swing either way.

Those are the things missing from all the scams and how people can spot them a mile away.

Couldn't agree more. I have a project I'd love to look into taking investors on with, but with the massive amount of scam attempts and such around here, I just feel like I'd lead myself into a dark hole and get my reputation destroyed over an honest opportunity. It sucks that people are too lazy to work anymore, and want everyone else to do it for them so they can reap the benefits. Can't even go to an online Bitcoin poker/dice/casino site anymore without a flood of people constantly begging for free money so they can gamble, then begging more when they lose it.

It really is a shame that so many scammers exist online. It's a good thing there are at least some honest people out there still who do not lie or scam people to make a quick buck. Sometimes I wonder if anything in this section that is not a scam.

Not to mention his post, after reading it again twice, refers to himself as being part of the company throughout. "We" this, "we" that, "we are licensed," etc. You don't refer to others as "we." This was intentionally misleading people.

So you made up an official looking account, lied, and sent out outdated information that wasn't supposed to be public? I'd hate to see what happens to companies you want to fail.

I did not mean to be misleading and I am glad Nick came in to clear everything up.

I want nothing but the best for the company.

Yeah, he also PMd me a full listing of monthly return, along with other information, in a packet that looks like an official one.

It's sad that he went through all that work to mislead people like this, and thanks for clarifying things.

following if this goes anywhere. thx for clearing that up jigsaw.

Greetings,

My name is Nicholas Gelfman, and I am the CEO of Gelfman Blueprint Inc. Evidence of this can be provided if necessary.

I'm posting here to inform everyone that this advertisement was unauthorized and should not have been posted.
Alex Aleksandrovski is a customer, not a partner, and made this post with the intentions of bringing in more customers to earn a commission for himself.

Although we do appreciate the commitment by our customers to the business, we don't allow them to advertise without our consent, except to family and friends.

While much of the information posted is indeed accurate, there are a lot of discrepancies, a lot of the information is private, and we had no plans of advertising publicly like this. I discovered this thread by chance, while doing a google search on our company to evaluate our online reach. No one in the company was informed of this, and the information was mainly copied from an investor packet along with some information personally added by Alex. Much of this information was private and only available under NDA. Given that it is already out, I will clarify some points, in the order they appear in the post.

• Alex Aleksandrovski is a customer, not a partner.
• We're registered with FinCEN, not the US Treasury. Technicalities. Also, the address on our MSB registration is outdated as we moved offices two months ago. An amendment has already been sent to FinCEN.
• While we are indeed a "hedge fund", the term is being used very loosely given the lack of a better comparative term.
• The monthly return is not 7-11% and was not averaged over 3 years. The current return is advertised at 7-9% monthly over an extended time period, and is based on the return you receive after we take our commission. Our actual full return rate is only available to investors. Customers are only informed about their return rate, not the fund's.
• We do not make 10,000 trades a day. The algorithm is capable of evaluating up to 10,000 trades a day, assuming 24/7 heavy volume.
• There aren't "7 total market scenarios that have occurred since the beginning of bitcoin". There are 7 distinct branches in the algorithm's initial decision tree.
• Almost the entirety of the "Other Projects" section is inaccurate. Really the only accurate statement is that there is indeed a patent pending. I can not provide any actual information on e-Bit as that project is currently in-house only and not for disclosure to anyone other than VCs and investors.
• We are not using Breadwallet's API. That was an idea we had in the past, that we later decided against due to constraints.
• The dropbox link is an outdated, older packet, that is not intended for distribution.
• The home page on our site is new and not fully functional. It was put up on the production server solely because the previous one was hideous and we decided that putting up a decent looking page with 3 out of 6 tabs working was better than what was there before. The page should be fully functional by the end of the week.
• The fees we pay per trade and the amount of coins we can trade while producing similar returns are inaccurate. That information is disclosed only on a need to know basis to investors in person.
  

Once I discovered the post, my initial course of action was to contact Alex and have this post taken down, but I read the replies and see that there are some people he's already responded to, so I'm posting this to inform. After ample time, this thread will be removed.

If anyone has any questions, feel free to PM me or email me at [email protected]

Thank You,
Nicholas Gelfman

Thanks for that! Also, I did get the other packet yesterday as well. I'm following up on some things before I post my thoughts on everything, .

Here is link containing customer returns and a little more information: https://www.dropbox.com/s/pwytglsfg4wpglb/Customer%20Packet.pdf?dl=0

We have a more informative packet. I have no problem sending out the investor packet to each person individually, so just send me a PM. It includes more information such as our full returns (with our profit) and projections, etc.

Going to toss a PM myself and go over the paperwork. I'll report back on thoughts (without disclosing any secretive/private information).

I'll happily inspect them, but please provide them here so that they can stand up to more than just my personal scrutiny. It's never as simple as just signing a BTC address on this forum....

Yes it is no problem- send me your email. We're not trading alt-coins or investing in any other businesses as of now. We're strictly trading bitcoin on the market using our algorithm, and creating returns from scalping. The only risk in our business is the exchange running away with our money, which is highly unlikely.

Right now we can trade up to 40k coins while producing similar returns. We pay 0.5% per trade we make, and the more coins we have in trade the lower the fee will be. We can get it down to as low as 0.01%. The exchange rate (currency exchange rate) is paid by our customers if they give us cash. If we receive bitcoins, there is no currency exchange fee.

PM me your email and I will send you the audited paper stating our total funds under management.

Also, as a hedge fund, you must have holdings.  Do you post those anywhere?  Are you strictly trading altcoins back and forth or are you actually invested in any legitimate businesses with revenues?  I know NastyFans provides an owner list so that claimed holdings can easily be verified by a 3rd party.  I assume your holdings would have something similar.

Given that you promise a 7-11% return on Bitcoin, what risks or obstacles are there to jeopardize this?  Is there a point when your fund will get so big that 11% returns are no longer possible?  Is there a point when the exchange rate will become so high that an 11% return is no longer possible?  I already know the answers to these questions, but I would like to see your response.

Can you verify your funds under management? Given your focus on transparency and AML I assume this will be no problem?

What do you recommend?

PM your email, I'll send you everything.

Yeah... until things are a lot more solid transparency-wise, I don't think you're going to have an easy job getting people on board then. I personally won't send my ID to anyone that I haven't physically visited/vetted out unless they're a well-known organization, and that's because that makes them easy to pursue if needed.

Right now you would have to contact us, send us your ID + proof of address and sign some docs we send you. Once that is done, we provide you with an account to get started.

Once the site is finished: the registration process will be done through the site and you would be able to upload the docs online. If you're approved we'll email you the docs to sign.

You can send the coins to our address or pay with cash/bank deposit.

All of this has to be done in order for our company to keep running smoothly and follow all AML policies.

I actually tried to sign up to check the backend. It says we need 3 "license keys." There's no information on what these refer to or how to obtain them. It also asks for "User Identifier," which is separate from username/email, again with no information on what it means.

The broken links will be all up very soon. This is just the front end anyways and it has been changed completely from the previous version.

The most important part of the site is fully functional. That is when you're registered and login to your account. There you'll see your balance, and have your results displayed for your whole investment period. You can also deposit/withdraw from there.

Audit information can be given upon request- PM me with your email address. We are trying to be as transparent as we know ourselves how much skepticism surrounds the bitcoin community (sometimes for good reason).

Glad to have provided some value. And on that note, it's bedtime. Nite!

lol, you've won a spot on my "favorite people of the week" list. +1 to you, sir.

"I hope it feels so good to be right. There's nothing more exhilarating than pointing out the shortcomings of others, is there?"

https://www.youtube.com/watch?v=9L0fS7ZgAJA

It's actually in paragraph 3 as well, :p.

Thx - skipped the first line it seems.

They said they are already in the process. Read the OP.

Will you be applying for a Bitlicense given that you're located in New York and likely have customers located in New York?

I'll let someone else analyze this thing. I mean, half of the links on your site don't even do anything (they are just set to #), which means the site isn't complete. Generally people will ensure they are ready for a launch before launching... this is just reading way too much like a HYIP for me. Very similar claims, no solid information other than a MSB number (which checks out but isn't in and of itself verification the site is legitimate -- even the document itself states that), no information on who is doing audits, broken site, new BCT user, despite supposedly being involved for years, etc. etc.

The bot was first developed by Nick almost 3 years ago. For the first half year, it wasn't profitable. For the next year and a half he was using it personally and constantly optimizing it. We only started taking outside investors after incorporation on July 19th. Before then we weren't acting as a MSB.

You say you've been at this for years, acting as a MSB. Why is your FinCEN registration so recent, then? Shouldn't this have been done long ago?

Mod note: The apparent owner of Gelfman Blueprint says that this post is fake, see his post here.

---

Hello, I'm creating this thread to gain more attention and create transparency behind Gelfman Blueprint and the investment opportunities our hedge fund offers. We’re registered with the United States Treasury. We’re CPA audited every month and we've applied for the BitLicense which is very heavily regulated. Our minimum investment is $5k.

Introduction
Gelfman Blueprint is a Bitcoin denominated hedge fund built on a high-frequency trading algorithm. Our goal is to hedge the risk of investing in the volatile Bitcoin market. Bitcoin is still in its early years, and since it’s a free market whose price is solely determined by the number of buyers and sellers, the price tends to be extremely volatile when compared to traditional stocks and FOREX. Our bot seeks to capitalize on these price swings to ensure a consistent return on customers’ bitcoins, regardless of price movement. Bitcoin’s volatility is the reason many investors are cautious about investing in and exploring this new, disruptive technology. Our fund addresses this concern directly, making the Gelfman Blueprint a safe haven for bitcoin investors and a comfortable transition into bitcoin investment for investors who haven’t entered the bitcoin market yet.

Our Fund
Our fund earns customers a 7-11% monthly return on their bitcoins. These returns are an average taken over a 3 year period. The first two years were used for testing different market scenarios by our head trader Nicholas Gelfman. We then incorporated on July 19, 2014 and started taking on customers and building our track record. As of August 1st, 2015 we had 85 customers, 2,367 bitcoins under management and 717 bitcoins in revenue. We have a strict AML (Anti-Money Laundering) policy, are a registered MSB (Money Service Business) with FinCEN (Financial Crime Enforcement Agency), have monthly CPA audited results, and are in the process of acquiring the bitlicense.

Competitive Advantage
Our competitive advantage is that creating a successful trading algorithm takes years of market testing. Anyone that tries to enter the market now, regardless of their knowledge and funding, will take years to match our bot’s returns and risk/reward ratio. Right now there are other bitcoin trading algorithms out there, but they are used for personal use only rather than as a business. This makes us leaders in the young bitcoin trading ecosystem, and we will continue to grow as this market continues to expand and innovate.

When we started this company, we estimated that the most we could have in our fund was 2 to 3 million dollars, given the market cap. Now a year later the market grew tremendously, growing our estimates to 10 to 15 million that we can comfortably trade while maintaining similar returns.

How It Works
In trading, the critical advantage is speed. Our bot makes 10,000 trades a day in a market where the average transaction fee is a fraction of a percent. The low transaction fees allow us to operate and profit with a relatively small amount of assets under management. Our head trader Nicholas Gelfman derived 7 total market scenarios that have occurred since the beginning of bitcoin and coded an algorithm that makes decisions based on what scenario is currently occurring. The algorithm follows an if-then rule pattern to determine when it’s profitable to buy or sell and how much of our total working balance it should use on each trade. The overall strategy is to scalp the market, making profits on small price changes. Therefore, the volatile nature of bitcoin is what actually helps us make our returns and when the price of bitcoin is dropping, we compensate for it with making a lot of it back by trading. When there is a steady increase in price, the bot doesn’t execute any trades and allows the value of our bitcoins to build.

All of our results have been audited + documented and can be shown upon request. Feel free to send me a PM if you're interested and I will also try to answer as many of the questions here as possible.

EDIT: Here is link containing customer returns and a little more information: https://www.dropbox.com/s/pwytglsfg4wpglb/Customer%20Packet.pdf?dl=0

We have a more informative packet. I have no problem sending out the investor packet to each person individually, so just send me a PM. It includes more information such as our full returns (with our profit) and projections, etc.