Seems like another ponzi scheme.
Topic: Invest Bitcoins due to launch shortly!! (Read 2915 times)
This has to be the fucking worst idea I've ever heard of, even if it isn't a scam.
1st rule to investing: Never invest with anyone that guarantees a profit
This is obviously either a scam, or it will fail miserably. OP clearly has NO knowledge of investing. "Guaranteeing" a profit, opens you up to countless lawsuits. Say he guarantees 6% a year, you only get a 5.5% return. Take him to court, you will win every single time.
If you want to trust your money with rookie investors, be my guest, and enjoy the returns. You would likely get a higher return just by holding your BTC anyways... Much less risk.
Goodluck with your venture, but Im not touching this with a 10 foot pole
This is obviously either a scam, or it will fail miserably. OP clearly has NO knowledge of investing. "Guaranteeing" a profit, opens you up to countless lawsuits. Say he guarantees 6% a year, you only get a 5.5% return. Take him to court, you will win every single time.
If you want to trust your money with rookie investors, be my guest, and enjoy the returns. You would likely get a higher return just by holding your BTC anyways... Much less risk.
Goodluck with your venture, but Im not touching this with a 10 foot pole
Hi All,
To give you a brief introduction, we are part of the Invest Bitcoin team.
We will be launching our services shortly in India and worldwide, where we encourage investors to invest their Bitcoin/s with us and we in turn deposit the amount in various Government bonds, deposits and schemes, which would enable our investors to earn guaranteed returns at the end of the term.
Would highly appreciate your support in making this a success. Do like us on our Facebook page and follow us on Twitter to get the latest updates.
PS: we are still in our pre-launch stage and hence, haven't published the link to our website. Will provide the details when we are ready for launch.
Facebook link: https://www.facebook.com/pages/Invest-Bitcoin/260184967486696
Twitter: https://twitter.com/Invest_Bitcoin (@Invest_Bitcoin)
Regards
Team Invest Bitcoin
To give you a brief introduction, we are part of the Invest Bitcoin team.
We will be launching our services shortly in India and worldwide, where we encourage investors to invest their Bitcoin/s with us and we in turn deposit the amount in various Government bonds, deposits and schemes, which would enable our investors to earn guaranteed returns at the end of the term.
Would highly appreciate your support in making this a success. Do like us on our Facebook page and follow us on Twitter to get the latest updates.
PS: we are still in our pre-launch stage and hence, haven't published the link to our website. Will provide the details when we are ready for launch.
Facebook link: https://www.facebook.com/pages/Invest-Bitcoin/260184967486696
Twitter: https://twitter.com/Invest_Bitcoin (@Invest_Bitcoin)
Regards
Team Invest Bitcoin
Where are you operating from ? If u run away where the investors should chase you ? You are saying about investment in Govt bonds. Are you at par with RBI & SEBI laws ? The moment you try to invest in Govt bonds, u have to convert in INR and u have to abide by either SEBI or RBI rules.
Hmmm... an opinion.. Valuable stuff that dope!!
?
always welcome constructive criticism, not saying I m the wisest investor in this forum...
Care to elaborate as to where I m mistaken?
This is a far less riskier investment is probably where you did not get it on the spot.
Guess that the problem with this is going to be trust and as we know that nothing grows through the forums, I have advised him to look at different marketing opportunities.
Hmmm... an opinion.. Valuable stuff that dope!!
?
always welcome constructive criticism, not saying I m the wisest investor in this forum...
Care to elaborate as to where I m mistaken?
Hmmm... an opinion.. Valuable stuff that dope!!
?
Hmmm... an opinion.. Valuable stuff that dope!!
?
So....
I invested my Bitcoins.
Period.
Now what?
Oh.. I mined my coins.. if that is going to be the next question.
I personally don't care how you got your bitcoins, mined or stolen from an old lady. I m not the bitcoin police
I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.
Would rather not be one of them at this point in time.
What I am saying is that they WOULD ask questions, either to you, or to them. So you argument of using them as the middle man to avoid such eventuality, if it were to arise, is ludicrous.
What I do know is that investing in an unknown, unregulated company in India (I guess they must be - otherwise they would have to prove provenance of funds) that will exchange BTCs into fiat to buy bonds, is far more risky than to use BTC-e myself and buy some Greek bonds.
But hey, that's my opinion. Caveat emptor.
EDIT: I m not saying this is a scam or not. I have no ways of knowing. I m just merely underlining this as a risky investment.
Hmmm... an opinion.. Valuable stuff that dope!!
Here is a numeric example to highlight flaw in your so called "business plan".
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Our effort lies in protecting the current value of BTC. In the example that you've quoted, what we would do is convert the 10 BTC at the time of investment to INR based on BTC-e prices and invest the same into the plan of your choice. Let's say you choose the plan which gave you a return of 6% - in that case you get 6% over and above on the INR value at the time of conversion, which means that you would get INR 2,65,000 in total at the end of the deposit term (using your example)
The final payout will happen either in BTC or fiat depending on your choice at the end of the term.
Regards
Invest Bitcoin
On top of what Neo said...Why would I pay you to convert my exposure in BTC to exposure in INR, when in all likelihood, the odds of getting returns higher than 6% on BTC are much much higher. What you are really doing is protecting the investments in INR and not in BTC. Infact, even that's not the case because inflation in India is much higher than those fixed income returns.
You not only do not understand the exchange rate risk, your fund provides no real value to investors. On top of it the compliance issues that someone else also pointed above, makes this investment an almost sure shot loosing preposition.
The ONLY way a BTC investor would gain is if after investing in your venture, the BTC price goes down. And if an investor is willing to take that bet, he might be better off by selling his BTC.
So....
I invested my Bitcoins.
Period.
Now what?
Oh.. I mined my coins.. if that is going to be the next question.
I personally don't care how you got your bitcoins, mined or stolen from an old lady. I m not the bitcoin police
I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.
Would rather not be one of them at this point in time.
What I am saying is that they WOULD ask questions, either to you, or to them. So you argument of using them as the middle man to avoid such eventuality, if it were to arise, is ludicrous.
What I do know is that investing in an unknown, unregulated company in India (I guess they must be - otherwise they would have to prove provenance of funds) that will exchange BTCs into fiat to buy bonds, is far more risky than to use BTC-e myself and buy some Greek bonds.
But hey, that's my opinion. Caveat emptor.
EDIT: I m not saying this is a scam or not. I have no ways of knowing. I m just merely underlining this as a risky investment.
...
Oh.. I mined my coins.. if that is going to be the next question.
Oh.. I mined my coins.. if that is going to be the next question.
If you mined your coins, the blockchain makes that obvious (No Inputs (Newly Generated Coins)). No red flags and no need to complicate things.
Claiming you mined your coins when the coins aren't freshly mined can be a bit tricky. You'd be better off saying you found them under your couch cushions...
Here is a numeric example to highlight flaw in your so called "business plan".
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Our effort lies in protecting the current value of BTC. In the example that you've quoted, what we would do is convert the 10 BTC at the time of investment to INR based on BTC-e prices and invest the same into the plan of your choice. Let's say you choose the plan which gave you a return of 6% - in that case you get 6% over and above on the INR value at the time of conversion, which means that you would get INR 2,65,000 in total at the end of the deposit term (using your example)
The final payout will happen either in BTC or fiat depending on your choice at the end of the term.
Regards
Invest Bitcoin
^
You do not have a bank account?
You do not have a bank account?
I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.
But wouldn't that raise flags regarding their own bank account? I mean, wouldn't the indian government ask where this money is coming from? who the investors are? these would be legitimate questions to avoid money laundering. Being the middle man who takes BTC and converts them into fiat would make you an accessory to such scheme. Hence, why they would have to provide the financial body of the country they are operating in proofs that the provenance of such funds are clean. How could they do that since investors would be anonymous?
This, added to the fact that they are unknown, makes this a very very risky enterprise.
My 2 cents.
So....
I invested my Bitcoins.
Period.
Now what?
Oh.. I mined my coins.. if that is going to be the next question.
^
You do not have a bank account?
You do not have a bank account?
I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.
But wouldn't that raise flags regarding their own bank account? I mean, wouldn't the indian government ask where this money is coming from? who the investors are? these would be legitimate questions to avoid money laundering. Being the middle man who takes BTC and converts them into fiat would make you an accessory to such scheme. Hence, why they would have to provide the financial body of the country they are operating in proofs that the provenance of such funds are clean. How could they do that since investors would be anonymous?
This, added to the fact that they are unknown, makes this a very very risky enterprise.
My 2 cents.
Here is a numeric example to highlight flaw in your so called "business plan".
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Our effort lies in protecting the current value of BTC. In the example that you've quoted, what we would do is convert the 10 BTC at the time of investment to INR based on BTC-e prices and invest the same into the plan of your choice. Let's say you choose the plan which gave you a return of 6% - in that case you get 6% over and above on the INR value at the time of conversion, which means that you would get INR 2,65,000 in total at the end of the deposit term (using your example)
The final payout will happen either in BTC or fiat depending on your choice at the end of the term.
Regards
Invest Bitcoin
Here is a numeric example to highlight flaw in your so called "business plan".
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.
Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.
Now you have to give me a 6% return on my BTC, which means you have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?
Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.
I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment
...
While we know Benson, the guarantee of 6% comes from the fact that our investments provide that as a minimum.
While we know Benson, the guarantee of 6% comes from the fact that our investments provide that as a minimum.
Circular reasoning is circular.
Quote
While we do understand that no investment can be guaranteed to such a great extent,
And yet you do it.
Quote
...our securities are overseen...
The securities you claim to be investing in are overseen, you're not. I'm not worried about government bonds (you later changed this to "approved securities"). My issue is with *you*.
P.S: I wouldn't normally bother to comment on something like this, but the patently absurd IPOs have gotten traction here make this worthy of comment.
^
You do not have a bank account?
You do not have a bank account?
I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.
I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.
There are easier ways to launder money. I would not go through this if I wanted to launder money.
In that case, what's your motivation for "investing" in this? Other than the guy being your buddy.
From my perspective, all I am doing is putting a small part of my BTC into an investment, which I know can hold a steady return.
Am not looking at what he is doing with the BTC.
In other words, you don't care how plausible his "guaranteed 6%" promise is, he's your buddy, you trust him, and wish to support his business.
That's fine, and perhaps this is a reasonable investment for OP's other friends, but expecting to raise money on the internet simply doesn't make much sense.
And neither does justifying this scheme with "[it will benefit the] half of India [who] do not have access to banks or bank accounts."
While we know Benson, the guarantee of 6% comes from the fact that our investments provide that as a minimum. While we do understand that no investment can be guaranteed to such a great extent, our securities are overseen and have proven wise investments for huge part of the Indian population and this is our effort to open out this service to anyone interested in India and worldwide.
Regards
Team Invest Bitcoin
Well, his conviction has me sold
And I do see a small market for this as well.
May not be best for the internet, more like a Business Development drive may be needed to market this, but there will be users.
Am out of this. Cheers!
And I do see a small market for this as well.
May not be best for the internet, more like a Business Development drive may be needed to market this, but there will be users.
Am out of this. Cheers!
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