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I'm not recommending this at all. There is a way to earn .1btc or somewhere near .1 btc per week if you put 1 btc in revshares like mypayingcryptoads. With quick googling, it seems that mypayingcr5ypto is only proven n stable revshare which has provided returns so far.
Personally my point of view is to work smartly in your own field of expertise and earn profit to purchase bitcoin regularly. It is a slow but safe way.
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Big question is how trading will be done with just .001 btc and earn profit from trade where trading fees and transfer fees combined are more than what is being earned or might be returned.
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Right now I'm earning with faucets I've got tons of referrals but still the profit isn't that satisfying.
It is expected. User doesn't earn through faucets, but faucets earns through user.  They earn through the ads and captcha solving. user who believe in earning though the faucet are actually working for faucetrunner for peanuts. |
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Mr. AB clearly mentions that 10% returns are not due to bitcoin mining at all. Now question is if 10% returns are not from mining/cloud-mining then why is selling contracts of bitcoin cloud-mining in first place? |
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In addition to that, huge uncertainty around how Govt is regulating bitcoin. Nobody knows for sure how our babus going to regulate 'bitcoin trading' , a field of which they know absolutely zilch about. The bright side is now there is less difference in preev rate and Indian market price.
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If alt-currency trade is considered then it is like penny stocks. Alt-currencies are more volatile and susceptible to manipulation by very few owners/creators of that coin. Buying them in large quantity is easy as prices are low, at the same time there is danger of price steep price drop for considerable amount of time. You could take help of exchanges as well where instead of trading you simply exchange them for bitcoin or dollars or other alt-coin.
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In my opinion, there are legal MLMs which usually give back value for the money invested by members via usable and effective products. However, of course, there are those that are just scam types that though have products the value maybe not much compared to the entry money required.
Now, there are really programs that are ponzi in nature meaning they won't last even for months. And we can see them all over online...some can die in a matter of weeks and then another new program will come in with some degree of variations and sometimes new features.
Knowing that something may not really last and can leave people holding empty bags, then I guess it would not be right o be a part of the program at all. It would be unethical, at the very least.
How does an MLM scam with usable products different from an MLM scam with a garbage product? I don't see any difference since the whole structure of the two still remains the same. Almost everything can be seen as a ponzi scam. Literally every zero-sum market can be seen as a ponzi scam. But looking at MLM's structure, there's a pyramiding scheme happening and you only get money whenever you recruit somebody which means it's upright a ponzi scam. They are using the newcomers' money to pay their people therefore it's a ponzi scam regardless of the quality of the product they are giving out. Even with Any MLM company with usable or non-zero-value product doing business without super marked up prices is running a scam. |
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I happened to check that your site would be providing the cheapest among all exchanges rates as you were recently started as compared to all others for btc. Well if I buy from you site at present rate is 81512 (addition if there is any fees to it) and you are buying from local bitcoin at 79080 and probably selling at your site at 81512. Well now I am confused what is the benefit of buying from your site rather I should directly buy from Localbitcoin and could easily save 1700+ Rs around for 1 btc.   i havent used this exchange site but i can tell you something do not use localbitcoin just to save 1700 rs,i have many good and bad experience with localbitcoin site thats why it is preferable to use trusted exchanges rather than escrowing exchange.it is fast and easy rather going through different procedure.and talking about 1700rs ,it is very easy to earn that amount you just need experience and time for trading. Yes, this is very valid point. To make the point, when the amount of 81000 at stake, very few will think about profit Rs1500 than losing Rs.81000 if something goes wrong. So either user could earn profit of Rs1500 or loss of 81000. At localbitcoin or btxindia it is difficult and time-consuming to solve dispute. However at the wallet services like pocketbits.in or zebpay or unocoin you could get things solved pretty easily and there is less chance of getting defrauded by someone. If user has sufficient experience in exchange-trading and taken precautions like verification of next party then risk could be minimized. And user could earn profit. |
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Verification process document requirement is way too much strict. It is asking Passport, National id card and driver licence. I don't recall any other exchange, wallet being this strict. Are there any plans to make more user oriented and less obscure like onces they ask at Government office?
Could you add the ripple as well ? Make sure to get more alt-coins. Rates offered are good. What are the fees for transfer and trade?
Apologies, but you must have read the ID requirements in our FAQ section, we had those procedure when we launched, but we have since eased on for the same and now the process is as easy as it could get. We only require a Copy of Pan Card and Bank Details, the signup process is seamless now and is backed by our 59 Minute Guarantee. We will also update the FAQ's asap, apologies for the inconvenience caused. Pocketbits does not charge any fees for Bitcoin Trades, minor Altcoin fees are levied by Shapeshit which are included in the current price for the Altcoin. Update: Ripple has been added now Regards The PocketBits team Great! I. Thank you for clearing all doubts. I appreciate addition of ripple in the wallet. |
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bitcoin price has already came back to $12k and might remain there. However thinking it would hit 2k$ or 5000$ any time soon bit distant possibility. With greater price like 2000$ or 5000$ has its own downside like surge of transaction charges and all. This part is better explained in other threads by experts.
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No, there is no guaranty that you will earn money (bitcoins) if you are one of the first investors. A MLM (or ponzi) scam could run out on the first month or on second day (when they have enough money they will take it off).
It is a gamble still but with higher percantage of getting paid if you invest at the first hours or days of the MLM site.Just like what i have seen with other ponzi mlm they pay their members in the start of their site and then scam people in maybe a 1 or 2 or some last for a month of paying and then turning to scam real fast Correct. There is risk of losing money in MLM scams however with calculated risk one could earn decent amount of money. |
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That is pretty strange. Companies are reacting even before the government takes a decision on Bitcoin. Kind of jumping the gun. They shouldn't be in the bitcoin business if a statement by one MP bothers them so much. For some It is better safe than sorry. Importantly this news has exposed how some companies are/were marking up prices than International price. |
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In the name of protection of people/democracy, Govt does what it wants. Irrespective whether they are aware of consequence or not. What could one think when a MP mentions bitcoin as ponzi?
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Banning Bitcoin and banning VISA or Mastercasrd are two different things. Visa/mastercard are backed by fiat and they are not currencies from any perspective. Where as bitcoin is a currency (digital crypto).
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Given the history and situation, any reason/news about bitcoin acceptance is causing hike in bitcoin price whether it is going to happen or not. Recently the hype built around ETF is good example. Right now prices are rising could be because of Japan is ready to recognize bitcoin and about to regulate the exchanges.
Big whales could be the one of reasons.
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Given the current uncertainty related to the validity of bitcoin itself in India, it is better to wait for decision to come from Govt of India. There are some great exchanges like localbitcoin, coinsecure, pocketbits.in, btxindia where you could to the trading.
You could also look for altcoins trading as well. However it is more volatile thus profit and losses will be great.
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Verification process document requirement is way too much strict. It is asking Passport, National id card and driver licence. I don't recall any other exchange, wallet being this strict. Are there any plans to make more user oriented and less obscure like onces they ask at Government office?
Could you add the ripple as well ? Make sure to get more alt-coins. Rates offered are good. What are the fees for transfer and trade?
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Hello All!
With recent speculations regarding Bitcoin's legal status and our association with GBMiners, we have been approached by multiple journalists in the past few weeks with respect to our association with the latter.
I would like to clarify the following with regard to the same:
a) In the past Darwin Labs has been a software vendor for GBMiners, and has had no other relationship with the entity in whatsoever capacity.
b) Darwin Labs, it's founders or employees are not associated with GBMiners anymore, which implies we are not even their software vendors anymore. We have absolutely no commercial/professional relationship with GBMiners or Amit Bhardwaj at all.
We have not done any harm to anyone during the period of our association, nor do we wish to pass judgements on someone else’s way of working but owing to the negative attention that our client has attracted in the recent past, we decided not to be associated with the firm/brand or its owner in any professional/technological capacity.
Bitcoin Mining requires a special hardware which stores and validates the transaction in Bitcoin's Blockchain. We are not subject experts on hardware operations involved in Mining or its economic viability and have very little understanding of the matter. It is our lack of understanding of the subject that led us to work for GBMiners as a software vendor without understanding their source of funds or their business model.
We still do not understand the workings of either GBMiners or an entity called GainBitcoin, which are rumoured to be both run by the same person, which gives us an opportunity to state that we have absolutely no relation whatsoever with GainBitcoin. We are not fully aware of the workings of GainBitcoin or even the relationship between GainBitcoin and GBMiners.
Regarding Satoshi Studios, we had, at a point raised money from Amit Bhardwaj, among other investors, but thankfully, before we could issue shares, we realised that accepting this money is not in the best interest of Satoshi Studios, hence, we have returned all the money and absolutely severed all professional/economic relations between Satoshi Studios and Amit Bhardwaj.
Satoshi Studios will now be funded by Darwin Labs.
To reiterate, Darwin Labs or any of its three founders, namely, Sahil Baghla, Ayush Varshney and Nikunj jain, or any of it's employees, have absolutely no commercial/professional relationship whatsoever with Amit Bhardwaj, GBMiners or GainBitcoin in any manner whatsoever.
Regarding Darwin Labs, we are building applications and infrastructures on Blockchain, Virtual Reality and Artificial Intelligence. We are building multiple products and services and helping other businesses to adopt to these technologies. And we shall continue to push the boundaries of innovation in these domains in the next few years.
Could you mention why Darwin labs cut off all relations with Mr. Bhardwj's ventures? Is this because Mr. Bharadwaj bought a Oil wells/Goldmine/diamond mines recently and didn't give any partnership to you guys? |
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