Topic: bitcoin-trader.biz - page 47. (Read 203955 times)

It's a ponzi today and it will still be a ponzi tomorrow, so never. Unless they drastically reduce the payouts they will fold this year or the next, though. Madoff only paid about 10%/year, which is part of the reason why his ponzi lasted for so long.

Headline: "Bitcoin trader admits unlicensed money transfers"

http://www.bbc.com/news/business-29072886

a.k.a. Charlie Shrem, of course; not to be confused with Bitcoin-Trader.biz. I just thought the wording was funny since we're waiting on the audit results. The inevitable: "Have you heard of Bitcoin Trader?" "Yeah, I just heard on the radio that Bitcoin Trader admitted to doing something illegal..."

I don't know if you guys noticed, but the founders of this, Andrea Ciceri and Mike Walker, were briefly interviewed on the Bitcoins and Gravy podcast from about two weeks ago: https://soundcloud.com/bitcoins-and-gravy/episode-30-the-bitcoin-car-the-tennessee-bitcoin-alliance

They were also pictured back in July at the North American Bitcoin Conference in Chicago with people like Jeffery Tucker and Andreas Antonopoulos: https://bitcoin-trader.biz/newsletters/newsletter-23-07-2014.html

It's not as if they are faceless or something. I don't know if they are legit or not, but they are, at least, known individuals.

i personally know people that have bought shares and cashed them out after the 120 days. and coupled with the fact that i havent had a single issue with withdrawing funds daily... the question is... how long do you have to wait before you consider it "legit"?

i got in now. at this rate i wish i had gotten in back in Nov.

so how long do you wait? 1 year? 2 years? 3 years?

 

karasako you are very close to hitting the nail on the head...

there are two things that you dont have in your numbers. one is that i was given some shares at the north american bitcoin car giveaway tour AND there is one other trick that I have employed that I wont mention  publicly on the forum but if you PM me I could be coerced into telling you.

but all in all you are very close in your assessment.
 

Counting your chickens before they hatch 

OK, with 280 you can buy 14 shares. And you can make around $2.1 per business day (rough avg. of 0.75% used).

From 26th of August until today until today there are 8 business days so you made around $17. You cannot even buy a single extra share with that (to compound your earnings).

Regarding referrals.
From referrals you get 5% of the money they put in BT. Say you convinced people to refer you and they put $3200 in the first day that you joined (!!). That would get you $160. Say you invest all of them immediately and you get 8 extra shares.

OK, with 440 you can buy 22 shares. And you can make around $3.3 per business day (rough avg. of 0.75% used). With 8 business days you can get  around $27.

$440 + $27 = $447

In order for what you are saying to be correct you needed to get people in, that put around $4000 dollars in the day you joined (or a bit bigger amount if it was in the following days).

I do not doubt you. I am just saying that you didn't reach this amount because of the compounding earnings (http://financial-dictionary.thefreedictionary.com/Compounding). You reached it because of referrals (effectively adding money to the account). If I manage to refer 1 person that buys the max amount ($500000) I will get $25000 on the first day according to what BT says on their website.

Congrats for your referral capabilities. I really hope that it is not a HYIP.

Yes I am getting referrals AND I am compounding my earnings. As of my writing this I have gone from $464 to $492... and no I am not miscalculating. I will probably get more referral between now and next tuesday morning (that's then I will see my next earning) and when I get my next $8 in there I will buy another share for a total of $500 in my account. I am quickly approaching double my money and I only started this on I think it was Aug 26th or 27th.

Sorry guys, but this thing is about to exposed as a total ponzi... I just bought some shares.

I haven't looked into it specifically, but my impression is that mining offers are either not based on actual mining, or unlikely to be profitable. I'm guessing that some of them are gambling that the difficulty will increase enough that they will have to pay less than they got paid for the contract. Question is what happens if it doesn't.

Maybe he got referals.

In just over a week you went from 280 to 464?  They provide ~0.75% per business day... are you sure you calculated correctly?

I was skeptical at first.

But I've put in $280 and with the shares they gave to me and the commissions I've earned coupled with the profits I've made my account now has $464 in just over a week.

Ive been able to cash out profits however I decided to reinvest them and compound them.

Worst case they are a scam. If so I've only lost $280. If they arent... ka-ching!

I'm significantly less paranoid than the average bitcoin user, but I'm probably also less naive. Of course, when the topic is a ponzi there will be much more lying and ridiculous stories than there are in most other topics.

I dont say bitcoin-trader is a SCAM as I have been really earning good by making full use of bitcoin-trader.biz. I started few months back and it has been really great since then.
I also have done a research on them, finally I came to conclusion it's very likely to be a ponzi scheme, but not guaranteed. I can say 10% chance to real concept so think twice to do business with them.

To sum it up, you're trying to convince us that BT is for real by telling us a story that is extremely unlikely to be true.

It is not possible to have definitive proof since we do not have access to their internal records. People are claiming BT is a ponzi because they share many common traits with a ponzi. They also do not have a logical method of financing their business. If they are 100% legitimate, they should pay out all public investors in full and operate privately using the revenue they have generated inception to date. No reason to pay public investors so much when they can just keep it for themselves.

Any news about the audit?

A little honesty in your posts would be very nice. You had to cut away the next line just to be able to pretend I was inconsistent. I don't need to invent a reason why BT will fail, it's the nature of ponzies that they will fail sooner or later.

You doom theorists really bore me big time. Every time I visit this forum I find the same people talking about the same things, over and over and OVER again.  

Grinder, first you say:


Then u say:


You are constantly trying to invent some kind of reason why BT is going to fail, since you cant find a definitive proof, you get creative. Little bit consistency in your posts would be very nice. Anyway, I am done, I will not be posting about BT anymore, there are other things to discuss in this forum. Good luck.