Bitcoin Forum

Watching aitrades.org launch and not being able to do anything about it is like watching a stroller rolling in front of a freight train, so I thought I would at least post this here so it might show up as a Google search result for the website. They are set to launch in 2 days time (https://www.instagram.com/p/Bp68nj9gUYJ/?utm_source=ig_twitter_share&igshid=1rdkre6rfbbzn).

https://i.imgur.com/NowR8F8.png

Basically, AI Trades is (99.9% likely to be) a Ponzi scheme masking as an investment program based on - you guessed it - artificial intelligence-driven trades. Here are some of the "products" they offer (taken straight from the website (https://aitrades.org/)):

1 - AI Robots for arbitrage between exchanges
2 - AI Robots for trading with any pair of cryptocurrency
3 - AI Robots for margin trading on exchanges (in development)
4 - AI Robots for mining (in development)
5 - AI Robots for market analysis and search for financially-beneficial altcoins (in development)
6 - Ai-Power Nodes


As you're probably already aware, arbitrage-based investment programs have been all the rage in Ponzis over the past couple of years. It's a smart move because it can be automated, black boxed, and consistently profitable. A perfect front for a Ponzi operation.

On top of them having no identifiable team, no type of information about the software or exchanges used (that would be black box confidential I guess) and no sort of licensing, partnerships or backers of note, they have an investment "calculator (https://aitrades.org/#calculator)" that shows very lucrative ROIs; though it should be noted they have the following disclaimer right next to the calculator:

"We are not a license investment Company we are a Bitcoin management Company, We manage our members Bitcoins and return a ROIB daily. We do not give any guarantees. The crypto market is a very volatile space. This Calculator is to give you an estimate of what could happen"

... And monkeys _could_ fly out of my ass.

https://i.imgur.com/snaSTh7.png

But wait, there's more! If you up the deposit to 5 BTC, your 1 year "Clear ROIB" shoots up to 72.54%! This isn't much compared to many Ponzis, but the fact remains, a 72% ROI per year is pretty darn good.

The kicker (and thing that ups this from a 77% chance of scam to 99.9%) is that the idea was founded by Joff Paradise, of Trade Coin Club, which was a pretty huge Bitconnect-esque Ponzi that was popular throughout several parts of the world. There isn't much on Trade Coin Club in this forum, but there is a hell of a lot of information on the internet -- disgruntled customers, unfavorable reviews (https://behindmlm.com/companies/trade-coin-club-monopoly-money-roi-payments-exposed/), dissatisfied promoters, and tons and tons of negative information about Joff Paradise.

https://pbs.twimg.com/media/DT0Llx0XkAEnF77.jpg

I don't want to say Joff has been a con man his entire life but as far as what the internet has to say (http://gossip.thedirty.com/read-more-dirty/1278184/#post-1278184) about him, it would certainly seem that way. Among his many internet accomplishments, he's been accused of mismanaging a franchise of gyms into bankruptcy, racking up huge debts at casinos, and even pretending to be a veteran (https://thisainthell.us/blog/?p=75442). He also goes by the names Jeffrey Webb and Geoff Paradise.

https://i.imgur.com/1sMVC1H.png

The thing that scares me the most about this guy is, besides the fact that he's been legally untouchable, he has a huge, vulnerable following -- almost a cult of personality. He regularly gives seminars about how awesome his moneymaking programs to financially illiterate member bases, jetsetting to Vietnam, Belize, Thailand, Ukraine, Nigeria, India, etc., on the regular.

Here's an article my website published about Trade Coin Club (https://coinclarity.com/spotting-a-scamcoin-trade-coin-club/) for more details.

Joff Paradise Twitter: https://twitter.com/joffparadise?lang=en

Joff Paradise Facebook: https://web.facebook.com/joff.paradise

I just hope I can somehow minimize the damage this guy is going to inflict with his latest scheme, again.

Excellent write-up (or is it writeup; at least I used the comma correctly  :P), bud: https://coinclarity.com/spotting-a-scamcoin-trade-coin-club/

Thanks for your seal of approval!

I'll update this thread when new shit comes to light.

It will be interesting to see how this one pans out... Sounds like its open for business.

What part of scam did you not understand?

I'm well aware its a scam. I'm just wondering how much money they're going to rake in. Its hard to say now that the whole market is currently tanking. Wonder how anybody can invest anything at all right now, scam or not.

It's a clear ponzi to me.

It seems like that these scammers just love the concept of AI and arbitrage, and combining them both together seems to give them even more opportunities to scam more newbies. Obviously if you know anything about trading, not only is this completely false and unsustainable in terms of the returns, if there was actually some AI that is capable of doing this and delivering such ROI on funds, it would never be made public.

They virtually admit that they have no license to conduct their business and thus, are not trustworthy. And you're completely right about the cultish figure that this guy is, similar to what certain youtubers did to their subscribers in terms of the lending platform scams a year back, if not worse.

Meet Mutt & Joff ...