Topic: What do you guys think of BitEnsure? Interest Bearing Wallets - page 3. (Read 7438 times)

So... after all of this evidence and Coindesk looking into it too (since it looks like they've been had as well)... do you have anything to "report back"?  Have you asked these guys what's up?  Curious to what they'd say to all of this.

Hope you've gotten (or get) your coin back.

Not my post, but worth quoting:

Alright. I think I have a pretty good idea about what's going on here.

There is only one employee that works for MetaNeural Engineering, LLC. He works from an apartment in Florida, and bought what's called a "Virtual Office" based at the building in Colorado,

8400 East Crescent Pkwy, Suite 600
Greenwood Village, CO 80111

He made some hacks, made an add-on, or downright copied software that was created at WardSystems. Maybe he's a disgruntled employee, or maybe he really did make something novel, whatever. I'm not willing to pay a thousand dollars to find out if his software is legitimate.

He forms the company MetaNeural on Jan 31st, 2013, and put his site together in February, then he decides to branch into a couple dubious Bitcoin businesses.

One is a Bitcoin laundry, the other is "BitEnsure".

Speculation;
His original idea was to get a lot of people to use his Bitcoin laundry, and skim some coins off the top. Acting a lot like a fractional reserve bank. He probably uses those coins to make trades and leverage his bets on the market.

Maybe some trades go south, maybe he wants more leverage, or maybe he just gets greedy. So he forms "BitEnsure" to do essentially the same thing his Bitcoin Laundry does. He piles the money together, skims off the top, and makes bets on the market.

He figures, "Hey, my business is an LLC, and my company has no assets. I have nothing to lose, either I make great bets on the market and everyone wins, or I don't and only they lose."

All along the way he puts disingenuous information on his sites about clients he works with, fictional employee's he doesn't have, job listings for jobs that don't exist, and states MetaNeural has experience of "years" when it's only been around for about 6 months. All to garner more trust from the community to get more coins in his betting pot.

Does that sound about right? Mr. WhateverYourNameReallyIs?
I'm giving him the benefit of the doubt. He could just be trying to mass coins and then cut-and-run, none of this "betting" nonsense.


At the end of the day the bottom line is this;

He's presented a false image of his company (repeatedly), there is only one employee, he's avoiding liability at all costs, he has no boss, partner, or stockholders he's accountable to, and he's hiding his identity.

Do not give Bitcoins to this guy.

Google Streetview is your friend...
https://www.google.com/maps?q=8400+East+Crescent+Pkwy,+Suite+600++Greenwood+Village,+CO+80111&hl=en&ll=39.622747,-104.889286&spn=0.00914,0.021136&sll=40.697488,-73.979681&sspn=0.575768,1.352692&hnear=8400+E+Crescent+Pkwy+%23600,+Greenwood+Village,+Arapahoe,+Colorado+80111&t=m&z=16&layer=c&cbll=39.622777,-104.889154&panoid=7DwLmqg7zrs2mRhxFZbWTw&cbp=12,200.21,,0,-18.94

They have an address and phone number on the site, does anyone have a beat on it?

8400 East Crescent Pkwy, Suite 600
Greenwood Village, CO 80111
+1 (918) 928 COIN

No, the typical action of this scumbag will be too attack those making these accusations that this is "slander" and "libel".  They try to scare people into silence.  I actually forwarded the coindesk article to the SEC.  Let them complain to the SEC and FinCen about their unfair treatment and slanderous comments towards them.

Not again. This is like the Global Standard Bank fake bank, where the images of the bank were lifted from other sites, and they got caught.

Now that the "jig is up" and more evidence comes out on this scam, how long until the "Long Con" turns into a "cut-and-run"? 

If you gave money to these guys, it's already gone.

Scam or not, safer to try it early

Scam.

How to identify a ponzi
https://bitcointalksearch.org/topic/how-to-identify-a-ponzi-100696

You may get your coins back - it is a nice website, I am sure they are in it for the long con.  Build up a rep, pay back a few people and then run off when they get enough large deposits.  100% it is a scam though.

For future reference, don't trust news outlets. They get scammed too. Example: techcrunch posted the Cryonics miner scam. The guys who ran the scam pulled in half a million dollars from the feature. People lost a lot of money.

Coindesk interviewed their founder and that was good enough for me. You have to have sources that you trust, and right now Coindesk is my #1.

My coins are locked in for 30 days, so hopefully at the end of that I won't regret the decision, but right now I can't get them out. For what it's worth, I also have coins in Coinlenders, but TradeFortress offers a lower return than these guys. Better liquidity and obviously more trust within the community, but if these guys are to be believed as to being who they say they are, it should not be surprising that they can offer significantly better returns.

I'll admit that it is fishy that they offered such high rates initially, though crypto-currencies do offer significantly better returns for smart money than the mature markets of ForEx, and given the reaction here it is not surprising that they lowered the rates...

Will report back.

Without further ado.
Suspicious crap concerning "bitensure";

They have one listed employee without a full name; "David DV", and his email goes to some mysterious black site called qubitlogic.net.
It's beyond "damned weird" for a business to use a website for their email that is separate from either their company (bitensure) or even their parent company (metaneural).

Their "We Are Hiring!" button does nothing.

None of their "read more" buttons work on the front page. (In the presentation doohickey..)

The image of said, "David DV" is a stock photo. Just one example can be found on http://dailyheal.com/meditation-news/using-meditation-and-yoga-to-combat-office-burnout/

(I highly doubt that he/they own "Suite 600" at 8400 East Crescent Pkwy Greenwood Village, CO 80111.)

Metaneural was first registered on: Feb 04, 2013
bitensure was first registered on: July 21, 2013

Unlikely that a business that registered its domain name 6 months ago (metaneural) is some super successful business. It also suffers from the same Mysterious Owner Syndrome that we have at bitensure.com

Randomly decided to reduce their rates (I heard that it was because of the litigation with pirateat40, but that was going on even before their first "offering");
http://www.wired.com/wiredenterprise/2013/07/sec-says-man-named-the-pirate-was-running-bitcoin-ponzi-scheme/
https://cryptocointalk.com/topic/899-bitensure-interest-bearing-wallets-bitcoin-savings-account/
https://www.bitensure.com/services

In short, if you gave them bitcoins, get them back.

I think you've found a major clue...   All those "Johns"...

Any chance the owner of MetaNeural will turn out to be Yoyodyne Software? http://yoyodyne.com/
Is JB/John Titor really John Bigboote?

Will they try to steal the Oscillation Overthruster because it will perform 500 PetaHash/s mining both BTC and LTC with NO HW errors?

I guess we'll find out in next week's episode of Buckaroo Banzai... queue 80's credits music....

And the coindesk article quotes a John Jones at Metaneural.. Lots of Johns over there apparently.

That they listed 40% returns over 3 months in the first place is ridiculous as their trade engine is currently at 31% over 6 months. http://www.myfxbook.com/members/metaneural

So unless JP Rosenbaum IS John Titer... or John Titer is pulling a "Catfish" because he thinks JB has a nicer looking pic... then this really looks mighty fishy.

save your bitcoins

Are you kidding, you actually put money in these guys? Couldn't you wait a minute to see if it was legit or not. Coindesk even put poss ponzi in the TITLE. Mate look at the post above you, get your money out now.

I've been scammed before, but I guess I just like paying with fire. Coindesk did a story today and it was enough for me to invest: http://www.coindesk.com/looking-inside-bitensure-bitcoin-savings-account-or-ponzi-scheme/