I was an early investor into the old btcontracts before the data loss occurred. The host lost all the data when they inadvertently reloaded the wrong server.
Here is the support thread between the original owner and his support http://imgur.com/VOANlke As you can see from the thread the server host accepts the fault of wiping the data accidentally, and even went so far as to fire someone over the issue when it was discovered that the data could not be recovered.
Pretty much as soon as the website went down I was contacted by the original owner who I had emailed before I invested, he was in a very big panic after having all the data wiped off of the server. I was in contact with him for the next few days whilst his host tried to recover the data. After it became clear that the data could not be recovered the original owner stated to me that he just wanted out of the whole failed situation. I offered to buy his script from him so that he may pay his now due rent and so that I may be able to recoup some of my losses. He sold me the btcontracts script and I relaunched it on the new domain http://xbtcontracts.org
I have been contacted by many previous investors asking me to refund them or restore their accounts. I have done all I can afford to do regarding this issue. I am not liable for the previous investors losses however where I can I have actually made people whole again on their accounts.
I would like to say that although the previous owner blames the host for the data loss and even though the host does admit the mistake I feel that the previous owner was also at fault, because I think he should have been making back up of all critical data. also I found a few small mistakes in the script which I have now fixed. Needless to say now the site is under my operation, off site back ups are made every 24hrs. This means that even if our host was to turn rouge and shut down or wipe our server, I will still have a recent copy of all data and that can be restored on a new server at any time.
I can tell you that http://xbtcontracts.org is no scam and is not going away. We have never scammed anyone and we never will. We are completely transparent with the mathematical model we use to calculate dividends laid out clearly on our terms and rules page!
As time passes people will see that http://xbtcontracts.org pay on time, every time. as the next contracts are completed you will all see that XBT is in for the long haul! Everyday I am actively developing new features for the site and finding other ways to improve it! if you have any suggestions please submit them to our contacts page.
Invested a little. I wish it was more transparent about how earnings were gained. It would be great if someone could explain it to me.
I sure hope this takes off. Whoever's behind this, please advertise! That is critical to success. Referral programs would also be nice.
I am advertising the site every day but a lot of my capital was spent restoring accounts so that is why there has been a slowdown it will pick up again soon.I sure hope this takes off. Whoever's behind this, please advertise! That is critical to success. Referral programs would also be nice.
Also to answer your question about how earnings are gained, All contracts are built up from new deposits from new members and reinvestments from old members.
when a contract is completed the the btc from that contract is shared between all members according to their level.
You can choose how much of each dividend you would like to withdraw and how much you would like to reinvest to raise your level even higher.
A full explanation can be found on our rules and terms page here http://xbtcontracts.org/terms.php
0% withdrawal fees until contract 15!!! get in now!!!
thanks
Harry
its only on contract 5!