Majority of these HYIP scams run by the referral commission. There are people literally cashing in on the commission to run the costs. They post the banners on every bitcoin advertisement network and start gaining audience from there. Most of the users who view these ads are newbies going to faucets and they end up on the site and because they are misinformed they fall for these traps.

The domain name is old, but that does not mean that the owners are not scammers. They have probably been running this site for a long period of time. Reporting to Namecheap is the best option for anyone coming to this thread. If you do that you will probably save several other innocent people from losing their hard earned money. No law enforcement can help you here but you yourself.

Hard truth, in-spite of doing well in terms of price most of the altcoins, about 99% of them have no inherent market making property. They are all based on the Hype started by the first successful ICO and seem to be riding that for years and still being able to scam some noobs off their 100$.

Most of the ones I know either ended as abandonedware or team revolted and hostile takeover occured or plain left the scene. Either of which the money or time put in to acquire those coins went to a wastepile. Someone intelligent enough would think that it would have been better if people who bought into ICOs at that time could have made huge profits today if they bought bitcoin at three digit price instead.

We use the term Fintech too liberally though. The proponents of different DeFi and stablecoin pools have been using that term to promote their projects way more than what bitcoin has done during it first few years. Eventually these buzzwords tend to lose their importance and as we can see the DeFi system is also ended up as another massive hype driven cesspool.

But I would suggest people to learn how bitcoin works before you invest in it. If one do not have the knowledge of how something works they will never learn the long term importance of that. It will only remain a pump and dump shitcoin to them. This is where the concept of faith in some new technology comes in.

One can sell coins out of need of making a profit but why some people end up dumping their coins in FUD? Because their background knowledge and research of that coin was zero.

Your post defenitely deserves some Merit, unfortunately I dont have any left. Good to see that @Betwrong has taught you these things well.

Nectar attracts bees. Thats the point here. People want to get rich and make money by putting in least efforts. That is why they get FOMOed and start buying things that are high.

I am not trying to dissuade anyone willing to buy bitcoin, but they see the profits that they could make if they bought bitcoin a few years back.

I cant say from their perspective, but hype is defenitely a part of it. Maybe some of them actually understand how bitcoin works and they believe this to be having an important utility in future.

I assume you are asking as a newbie. So as advice to newbies, stop listening to youtube videos about crypto. Learn how it works and see its use-fullness, then go for analyzing charts. If you have a background of stocks you will not find it difficult at all.

About making profits, spot trading is what I suggest to all newbies but point of entry should be low. That you have to decide on your own and defenitely is not 40k USD - that would be a loss at this time. Only go for margin trading if you are well-versed in it, otherwise not.

I have heard the same, but remember that Satoshi remained anon but did not sell a token to someone. Bounties exist for a fun-worthy project and they are selling a product so there lies a difference and the argument to bunk their argument.

It is worse than a gamble. You are being too generous to these scammers and by doing so you will end up losing money. At least in a fair gambling game you have a chance of winning. Here you are being sold shit tokens of no value in exchange of your valuable bitcoin which is going up everyday.

Managers themselves get scammed by these projects and it is not their fault that the project managed to fool them, embarrassing for them yes, but they are no liable for the losses. Also the same reason why you will rarely see reputed managers take up such projects.

I remember the time when Cloud mining was filling the forum with threads and even though they were getting red tagged some newbie would fall for it and then after a few days a site calling them would arrive with claims to be able to recover their money albeit with a little "fee". There also used to be newbie accounts posing as hackers who could recover such lost money at a cost.

All these are scams and they are able to operate due to lack of knowledge about how to use crypto. I dont see this changing in future though as long as bitcoin remains something in the "outlaw" situation and people still willing to invest in it. They think its like banking and money is reversible which is not.

Users should report the above site to namecheap, more chances of it being taken down.

Applies to all economic sectors. Why bitcoin only? As a matter of fact, use of bitcoin on a country basis is still small and so the policy affecting bitcoin would be small too. Moreover, government leaders dont change policies immediately, they do some cost-benefit check before changing them.

Yeah the electricity will also go down making bitcoin useless. Are we talking about absolutes or variables?

The biggest factor is neither of the above, it is Demand/supple ratio. If people want to do shopping with bitcoin, a bitcoin based business will flourish, because the government is not controlling bitcoin, though it would help a lot of they make it legal.

In order to resell a mining farm, you first need to own that mining farm and in order to own that, you would need to have bought that farm from someone. Seems ideal and if someone is really renting out their farm then this work out nicely.

But in reality this is not the case. In the name of "Cloud mining" what exists are MLM/HYIP programs that use new investors money to pay off old investors like a ponzi and keep running this with no mining actually happening in the background.

If you have real contacts then you might be able to set up a legitimate business. However dont look for cloud mining online because they are all scams. Even Genesis mining which was considered the only legit one is facing a lot of questions.

I wish more people would get this into their heads. The recent twitter hack of many well known personalities and the following money donation scam, worked nicely to make people send their money over.

If someone uses social media, treat everything there as manipulated or clickbait. The biggest source of misinformation or disinformation is social media today and if you want to save your money and remain sane, stop using them as much as possible, only keep them running for what you need.

The hard truth, there is no method to double your money - that is a scam running from time immemorial and only the way it is presented differs.

Sounds awfully similar to faucets because in the pre-2015 era, faucets were going in full force allowing a large number of faucet farmers to abuse the faucets. At that time PTC and click-to-get-paid stuff was also common. So possibiliy it is the same here. But keep in mind that the possible income from such methods is usually so low that you will likely be spending more costs on electricity and internet to run that and earn from it.

Better to not take part in them, because they tend to be addictive and pages are usually full of ads and just junk.

My point was that, for bitcoin you can hodl for years without doing TA, a point to show that day traders need TA much more than long term hodlers. But I get your point too.

Lets keep the "security" word away from this context. Bitcoin is not classified as a security by the bodies governing the fiat markets. This should be clear because many altcoins scum are trying to use a statement similar to this to show that their altcoins are securities and similar to equities which is a gross lie/misinterpretation of facts.

You can use TA on equity shares and crypto but that does not make their asset class similar.

So many red flags here.

xyz domain name - check
No mention of any individual or group running this "scheme" - check
No contact information so they cant be traced even to a fake address - check
Stock images to set up an account  - check

Wrong bitcoin price at the top? LOL - check
 
Running a script to list recent transactions list? - check - this is the biggest fool they make of themselves. Doubling scams have been doing this for a long time.

Anybody reading this, please know that such sites come up everyday and get taken down every other day too. But the scammers always manage to get someone to send their money over to them and thus the scammers will win. If you are going to send them money, make sure to say good bye to those coins because they are not coming back. Pinky promise!

If people could make even a decent 5x gains with ICO coins then every mainstream investor would have been talking about - dont you think so? Use you common sense here. Now its not that they dont know about it or some huge conspiracy that is keeping them out of it, No. They know it is a loss, and I will tell you why.

The ICO profitability depends on what price you bought it and when you sold it, just like any other asset. But what these coins lack is the inherent capability to generate a market in order keep the demand/supply ratio up. Hence the ones who go in at presale will sell as soon as the coin gets listed and then the coin will never go back up again. It will linger at -10x of its ICO price and go down with time only to be gradually abandoned by its team and owners.

Honestly your money would do better outcomes with bitcoin or traditional fiat markets, my honest opinion.

Cant spend it from where I am from. Nobody accepts bitcoin so I have no choice but to hold. I am not a gambler so I will not spend my bitcoin trying to play my luck but I do trade some of it to and fro with USDT only to increase my stock of bitcoin.

Good for you, I have heard of some hosting services that allow bitcoin payments but hosting services are not all that everyone needs. There needs to be bigger acceptance to see a better market buy/sell flow.

Risk of getting scammed is higher when you are sending first. It can be both a good and a bad thing. It will teach people to use their money carefully. Bad thing is that trust get involved here. So you would only be willing to send to a reputed company's wallet as going first and not go first with a individual person whom you never heard of.

I did a search on the phone number posted in the footer of the site in question. It revealed the same number being using on another scam site as listed here:
It is a HYIP site.

They are even using that UK certificate image as a show of "legitimacy" - https://investmentmk.biz/?a=cust&page=about - this is known to be a classic method used by scammers.

Domain lookup yield this information:

Namecheap should be informed of the same. Please make sure at least some of those reading this thread reports this to the registrar so they get taken down.

Firstly it feels good to see this topic back up again. I was thinking my last reply was the end of the thread.

That image of crazy homeless dude on Wall street is so vivid.

Seriously people can think about immense destruction but can any of them use their imagination to create and develop something new? Thats human nature to call bad things that are beyond one's reach. Being sane on the market and allowing all sorts of news to work its way in the market is the point of trading. Hence these are mostly shills trying to cause panic. Which is why I suggest newbies to stay away from r/....everything

Just like when two opposing political parties are trying to shake the land, they get their followers to do things for them similarly, whales make the newbies cause panic and they take advantage of the panic. It is an unhealthy thing to do but hey, who is to judge when you can make money off the streets and it is not regulated by anyone.

I saw the OP's other thread here - I have a question about mining.

Which intrigues me about the chronology of these events, OP is asking about how to more people to a referral link while the above linked thread is also true and came before this thread asking about which miner is better.

But anyway back to topic, my take on this is that one should develop their own website and blog about the niche they are trying to promote. If it is a faucet site then chances are you could develop a bitcoin earning method blog and talk about the different aspects of bitcoin wallets and how blockchain works and then gradually add in links to faucets in a small writeup about them.

Depends on what mining equipment you are owning or going to own.

Neither. Faucets are dead a long time back. I can say this because I came to the bitcoin world with an interest in how people could farm some faucets or have a passive earning through them. Then Google decided to ban faucet sites from its Ad Network and the faucets became worthless.

But if you are having some good number of referrals then that can be a side earning. I would not suggest mining because Doge in the long run is not a coin worth putting money in, just good for the pump and dump.

Rather using your money to buy bitcoin at low price and selling it for high price is a reasonable investment. It is called trading and specifically long term trading.

We have a coveted few member of this forum who provide this service and you should be grateful for that. Being an escrow carries a lot of risks and problems that you cannot comprehend unless you go into their shoes.

hedgy73's list is useful to see what fits you time zone and preferred fee method. That is all you need to compare with. Each of them are outstanding in their own space so you might find someone specific who would become you go-to person for everyday deals in case you are thinking of such.

So if you ask for favorite then you will get varying answers. Hhampuz is the manager of the campaign that I am in and has been doing escrows for years now, so I would go with them. But every other account on that list are also excellent escrows.

Out of the thousands of bounties that get posted here, very few end up as escrowed and when one does, there is a huge flock hunters jumping into it. Reputable bounty manager does not equal to an escrowed  bounty tokens but of course most managers usually declare that before posting it.

True that, most bounty hunters think of this as a job when it is defenitely not so. It is a hit and run/gamble as to which new altcoin will become big. Now bounty hunters cant complain of the same since nobody forced them to join and there was no clause to protect them on non-payment. Thats why I suggest every newbie to get to know this forum and how it works first and then gradually rank up to join a bitcoin payment campaign.