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Topic: Bitsavings offers 5% return a month - page 2. (Read 2309 times)

sr. member
Activity: 364
Merit: 250
February 10, 2014, 12:33:13 AM
#7
Is this a Chinese company?
legendary
Activity: 1692
Merit: 1018
February 09, 2014, 08:05:46 PM
#6
5% return on a commodity that has a slowing generation rate.  I predict this site will follow the well worn path of previous such efforts:

- Highly satisfied early depositors
- More users joining
- The site experiencing technical difficulties, halting withdraws, and then disappearing along with whatever bitcoins were left

Without a detailed explanation about how a 5% guaranteed return, regardless of whether bitcoin rises or falls in value against currencies, can be achieved every month the site should be avoided.
member
Activity: 112
Merit: 10
Looking to start various enterprises
February 09, 2014, 07:59:41 PM
#5
Looks good, a lovely boilerplate terms and conditions. No personal contact details and no sign of it being a registered business.

100% can vouch for this company
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
February 09, 2014, 07:52:19 PM
#4
And how many sites of this nature have had a happy ending for anyone other than the owner? Somewhere in the region of zero.
newbie
Activity: 16
Merit: 0
February 09, 2014, 07:51:01 PM
#3
I have no personal experience with this site. However I would urge extreme caution. I don't know how they can pay out 5% per month returns but I suspect they do it by taking people's deposits and day trading with them. That's all well and good until they make a couple of bad trades and then the whole thing comes crashing down.
legendary
Activity: 4228
Merit: 1313
February 09, 2014, 07:22:07 PM
#2
Anything that offers 5% per month raises a red flag. That is doubling your money in about 14 months. They could be legit, but the site doesn't say how they are generating these returns so I would be very cautious.
newbie
Activity: 30
Merit: 0
February 09, 2014, 07:10:00 PM
#1
Anyone come across this one yet? Wondering if anyone has used it, or has any thoughts.

Bitsavings
http://www.bitsavings.org/

Site's been live for a couple of months, offering 5% interest a month on bitcoin deposits.

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