Bitcoin Forum

The Bitcoin Investment Group, based in Leeds, West Yorkshire, UK has just launched its 12 month fixed tern 5% investment product.

The group is run by a local Accountant and is a group of like minded investors.

The product converts the members Bitcoins into fiat currency and then invests in peer to peer lending.

The minimum deposit is 0.01 BTC and the withdrawal fee after 12 months is 0.0005 BTC.  Early withdrawals are subject to available funding and a 0.001 early withdrawal charge.

Contracts are issued to members within 48 hours.  Deposits must be followed up with an email confirming the members name and deposit amount in order to verify the deposit.  Deposits of less that 0.01 BTC will not earn interest and wil be subject to a refund charge of 0.002 BTC.

Investments reports on the groups investments and performance are issued monthly by email to the members given email address.

For further information, please contact the groups Accountant at mr.bitcoin78@gmail.com.

The group is a community group and is funded by its investments and donations.  Donations and investments can be sent to 1KvWVgkTGpR6PJrg9PgETJY1NixEcTuYqU.

Kind regards

Bitcoin Investment Group

it might be scam :)

You can't expect people to believe you with a Newbie account? If you're legit, better to contact some respectable mods/ legendary members with good trust ratings and ask them to be your manager or something.
If this is a legit scheme you propose, then that is the best way to really gain traction. Otherwise, this reeks of a SCAM!!

Awaiting your response.

Hmm, not sure it's a scam or not, but I can tell that it's a long-term HYIP...

Well, like @amishmanish suggested, if OP is really serious about this project, then you can seek help from reputable mods/legendary members.

May I ask why an accountant is heading this project? From my experience, accountants are good at book keeping and composing financial reports.
I don’t mind taking a look at said accountant and verifying if this is indeed true. As others have pointed out, 5% fixed over a 12 month period seems a little suspicious.
Hopefully you can prove me wrong though.

Seems a scam attempt to me, people please don't send money to random people provided how much ever they insist you on the grounds of profit and trust. I don't think users can promise 5% profit in this volatile market.

You have to provide more information about this projects:
Some questions:
- as you mentioned; run by a local Accountant, who is this guy?
- invests in peer to peer lending; what it is? If there is any detail about this "lending"
- minimum deposit is 0.01 BTC, but it is 12 month fixed tern 5% investment;
do you know the increase in bitcoin exchange rate after 12 months? More than 5% obviously, holding bitcoin for 12 Months will be more profitable than invest in peer to peer lending.

Probably a scam which has gained popularity at my place. People here getting scammed the similar way!

Dear all,

Thank you for your replies and comments, I will try to answer each one in turn.

I fully appreciate that people may see this as a scam, I can only assure people it is not.

I am the Accountant running the Group.  My name is Mike Gregory and I have live in Leeds for the last 10 years and the UK since birth.  I have worked at two of the largest accountants in the world for over 15 years, primarily in Restructuring and forensic accounting  I have personally invested in shares, precious metals and oil for over 12 years.

The peer to peer lending the group invests in is currently Bitfinex lending. As the group increases it funds, other peer to peer lending platforms will be used to diversify the investments.  Other platforms envisaged are Zopa, Lendy, Property Moose, Ratesetter and Lending Works.

The price of Bitcoin may very well increase over a 12 month period beyond the 5% the group provides.  If this happens, then members would receive less Bitcoins in return.  However, the price may not increase and the groups investment premise i about diversification rather than having all ones eggs in one basket.

Our Bitfinex account currently earns interest of between 7.5% - 25% per annum depending on the loans required at the point of offer. After accounting for down days (days when no lending offers may be taken) and the fact that all funds may be lent out at the lower rates experience to date, I believe a fixed 5% return is achievable.

With regard to the newbie account, we all have to start somewhere but I take your comments onboard and thank those that suggested contacting the moderators/legendary members.  I will take this forward.

Kind regards,

 

There are hundred of scams with similar sounding names and techniques. So you have to understand the skepticism.The onus to prove being genuine lies upon you. I am sorry but there is nothing in your posts yet except smooth talk.
You are basically asking people to send 0.01 BTC to some place and wait for 12 months for returns. What is the validity of the "Member Contracts" you mentioned in the original post??
Similar proposals from people with english-sounding names have been doing the rounds in India and a lot of non english-native countries. I suppose their is sufficient imperial leftover in their minds that people find an English name more legitimate.
Pardon my tone, but Its tiring to see people duping the shit out of newcomers in the crypto world.

You haven't provided any  link / attestation till now except an e-mail ID. Someone who replies personally can easily be scammed with a little smooth talk.. ??? ???

Sorry, but this looks scammy. ???

So Mike Gregory, where can people get hold of you on Facebook and social media? Serious investor firms have legitimate websites with physical street addresses and contact details. < not a anonymous Gmail address >

Where do I send my people to break some bones, if I get scammed? I like to look someone in the face, when I hand over money to them to invest for me.

Picking some random name and saying you have worked at two of the largest accountants in the world for over 15 years, gives me no sense of security. Name those companies, so that we can call them for a reference. < You could have been fired for fraud >

Let's put a face to a name and a company to a street address and a profile to a company and then talk business. If everything is above board, then you would not have problems doing this. ^smile^

Sounds like another HYIP scam...  ???

It's a scam

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Bitcoin Forum > Alternate cryptocurrencies > Mining (Altcoins) (Moderator: mprep) > New Investment Product


Bitcoin Forum > Economy > Trading Discussion (Moderator: Cyrus) > need long term investment advise


You have already created many threads talking about this investment, which confirms that you are a scammer.


He would not do it, if he had worked where he said he worked he would not need other people's money, he would easily have $5.000 or more than $15.000 and could trade or simply buy bitcoin and hold that he would have much more profit

OP is using Bitfinex to ‘generate returns’. You could do the same yourself at a lower risk (albeit at a lower return) but knowing that you have more chance of actually getting a return on your investment.

LOL this scam made me laugh hard

I don't think this is a scam but I also don't think it's a good deal.. from what I can tell you're just investing into products anyone can invest in

"Other platforms envisaged are Zopa, Lendy, Property Moose, Ratesetter and Lending Works."

I've invested into property moose and had terrible results, but even so anyone can invest into these we wouldn't need to invest as a team to make returns

Thanks for all of the comments people.  It is clear that this is not something for this board or maybe anywhere in general.

I would like to thank Luke.Watson and A101ET for the reasoned replies rather than outright statements of it categorically being a scam.  For those that have stated it is a scam as fact, it is disappointing that you must have been let down so much before to label everyone as a scammer.  You have been given enough information for a simple google search to verify me, several hits on the first page of google indeed.

With regards to firms having website and address, many do have a website and a simple business mailing address that can be purchased for about £120, so this does not add any legitimacy to anything in my view as there will be no office at the business address.  One reason for not wanting to advertise my home address is because of posters issuing veiled threats like "Where do I send my people to break some bones" - very disappointing, especially from a legendary member of a forum!

Umm..Are we like supposed to feel guilty for this? Hope you aren't employing reverse psychology. if you are new to the crytpo forums in general then you should realize that its normal to be called out a scam if you make offers without suitable background information. It really is disappointing considering the potential this technology has.

I am sure it has never come to that in crypto yet but then yeah, people tend to get aggressive about losing money. It was mostly just a harmless jest. You shouldn't take it literally.

You've called this off already so maybe you can lock the topic.

Another attempt to lure people's greediness using an old style scheme of ponzi. Keep your money safe guys and never trust people who offer profit that are completely anonymous.

This person is going to double scam you guys. They said that there's a charge for refund but I doubt that they will even return any fool's investment in his ponzi scheme.

How does it look like today? Do you have any investors anymore? How much? Do you have any web?  ???

It would've been nice if you guys atleast put the effort in to make a website  :-\

For what? You are still thinking that they are maybe legit? I assure that they are up to no good.

I wouldn't invest in a platform that holds your funds for such long periods of time.