We all know there is no way investing in a MLM scam will ever bring positive results no matter which stage its at. So I wouldn't waste my time.
You know what the say If it Sounds Too Good to Be True, it Probably Is!
the final results of the MLM scam will surely end. but users who sign up at the beginning is very likely benefit. but it still does not guarantee you will profit. because many MLM also the scam in a short time Yes there were history that the MLM projects got shut down in the day one itself. So, the question of participating into it in early stages is indirectly supporting it like urging us to invest them if you find an MLM in early days. In other words what is the definition for early days ? and what would be the guarantee they will not wrap up just one day before to that definition. MLM is just an instrument of the company so they can dispose their products without paying for employees, they will just use the peoples desire so they can dispose their products faster.
If MLM works in similar way of "affiliate marketing" then there would be no harm. Unfortunately MLMs are just circulating our money and the real problem starts there. Early days definition is simple as early since launch of scheme or topmost in MLM tree. MLM's shutting down in very early stage are mostly hyper HYIP type scheme. Normally MLM's without any specific product or mainly circulating money are offering bit less profit than HYIP then it could go on for while. Remember Hashocean ran for two years. Those who invest in first year would have got benefit. If MLM is working like Affiliate marketing where actual product or service is involved and customers are benefiting from it then it is okay. However MLM scammers take advantage of this point and twist it to their benefit. Like scam would involve a product/serive whose actual cost would be less or compatible with those existing in market. These scams will increase the product/service value manifolds and then they will sell them. This way inflated price minus actual cost works more like ponzi scheme. People are asked to sell product/service, add more people in tree to get initial investment back and earn more profit. |
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Have you tried purchasing bitcoin using debit card and if so what is the charges for doing these kind of transactions and what is the conversion charges,when using neteller there is a specific charge as they would say 4.9% but they used to debit more than that and it is said to be conversion charges,so i want to know how much are they charging for every transaction. I tried going into Bitstamp in first week of Feb and using Credit Card option. I got a message saying the service is being rolled out gradually and may be available within next few days. I will try checking again this weekend probably. Not sure how much Bitstamp would charge, but all Credit Card companies levy a "Markup Fees" of around 3.5% on all international transactions, so that should be taken into consideration. Do you know if there is any restriction for buying internationally and could fall under some Act of FEMA? Did you do any research or just buying it and then it can fall you in trouble? Kindly consult your CA and get advice. I should probably do that, thanks. However I don't think there should be any trouble in doing international spends unless you're doing any money laundering. It would be just like purchasing something from amazon US site and paying with credit card or PayPal. Bitcoin is not yet classified into any particular goods/services, so that would be safe. To be on the safer side, I would just log all my Bitcoin-related purchase/sell trades so that I have all records if someone comes knocking. RBI is just 'observing' Bitcoin, not putting any restrictions. Here concern is more on sending money outside india instead of getting in India. However I don't think purchasing bitcoins from International market could land you in legal trouble. Somewhere on one of thread, one of veteran mentioned purchasing bitcoins from International market. It is always better to get facts correct than feeling sorry later. Consult with proper CA and then proceed. Make sure to share your experience here. |
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Finally other bitcoin news-media are also uncovering the ponzi scam called gainbitcoin running under bitcoin cloud mining from India based bitcoin miner Gbminers founder. This article dugs deeper and explains how gbminer and cloud mining scheme/scam gainbitcoin are linked/related. When all bitcoin world is crying over lower returns from bitcoin mining, gainbitcoin is giving extravagant return promise on bitcoin mining contracts. Till now they have steadily paid monthly payout to their investors. however running their contracts on coinwarz tells different story of returns. Articles also takes on their bitcoin wallet 'coinbank' which is apparently looks more like rebranded version of the open-source Bitpay wallet. For more details check following link: http://coinjournal.net/founder-india-based-bitcoin-mining-pool-gbminers-running-ponzi-scheme/ Interestingly there is a thread [1] in bitcointalk.org exposing scam nature of gainbitcoin. That thread covers scams in more detailed manner. [1] https://bitcointalk.org/index.php?topic=1440600.0 |
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The State Bank of India(SBI) is taking major lead in adopting blockchain technology in financial banking related solution on wide-spread. Other banks like ICICI HDFC, Axis, Kotak Mahindra etc are participant. Technical companies like IBM, Microsoft and KPMG etc will be involved from technical perspective. Apparently they are calling it as bankchain there version of blockchain.
It is showing how much serious approach towards blockchain adoption.
More details are at:
[url]https://www.cryptocoinsnews.com/state-bank-india-announces-financial-blockchain-consortium-bankchain/[url]
PS: Adoption of blockchain has nothing to do with adoption of bitcoin.
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Banks will adopt blockchain technology for sure, it is crucial for them to save time and expenses. I dont now about cryptos, i cant think they like BTC but i cant think of a way to override it
Currently banks are in testing phase and nobody knows whether blockchain technology implementation would work correctly for them or not. What would happen unknown blocks or what will be correct blocksize for them. Thus it is too early celebrate. One thing I don't understand is why people connect bitcoin acceptance with banks are experimenting with blockchain. Many people think that acceptance of blockchain is directly proportional to the bitcoin acceptance. Blockchain acceptance has nothing to do with bitcoin acceptance. Even if banks or any other sector implement blockchain then it is not going to affect the bitcoin world at all. |
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In short, currently there are no legit opportunities for bitcoin related investments. This is mostly because bitcoin itself is not considered as currency instead are considered as commodity. there are no such investments because people treat bitcoin as an investment (commodity) not a currency. so when you say bitcoin investment it is like saying where can i invest gold!
another problem is that you invest bitcoin in a bitcoin related business and such businesses are either rare or take investors through other channels and not publicly.
if you know a business or an investment opportunity out of here with fiat then invest there and use the profit to buy bitcoin. that is the safest option you can ever get.
anything else is either scam or highly risky.
you can find lots of examples in different topics. good ones are investing in a casino bankroll, lending, or generally invessting in any business. for example bitmixer used to accept investors with at least 10BTC
* There are investment tools available for Gold as well. In current market gold related investments are available with banks and Investment houses as well. * Bitcoin related business are indeed rare and that is why there is scarcity on investment tools. * Lending is too risky. |
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Previously I mentioned about various passive ways of income. One of them was create youtube channel and earn by creating videos. Lot of people mentioned that creating youtube videos takes talent and concepts. It need technical(video editing expertise). However if you see recent trends on youtube there is something mushrooming called 'reaction videos'. You dont even need any talent or create anything useful. All you need is pick trending movie video and record your reactions while watching that video. That's it. Easy way of earning money or creating video content without having any talent.
Get iphone (you don't even need video camera) and you are ready to create video. The standard of these reaction has fallen so low that they react to the videos from other youtubers.
takes talents and concepts but i think that everyone has a talent for something, even if you are a sandwich maker. I'm pretty sure that there are people looking in youtube things like: "how to make a sandwich" there u go! My point was nowadays you dont need talent for something to create video. Those react-on-something type video have nothing to do with talent. Any movie trailer or any other youtuber with original video creates video and these bugger simply show their reaction. That's it. So point is these days one could earn passively with these kind of videos on youtube. |
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Guys, do not waste your time researching & talking about SCAM sites..
This is 1000% SCAM...
On the contrary one should collect as many proofs as you could. Because these proofs later become point of reference when promoters/supporters of scam/MLM scheme come to defend it. Thus it is important to collect or dissect every statement, details from those scam-promoters. Interestingly you'll find people on this forum who support, defend this very scam site as legit. |
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Looking at the question whether to invest or save money is like asking "To stay alive, should I drink water or eat food". You need both. Saving money does not necessarily mean to keep it in bank. You could keep in your piggy bank as well. Or if you have secure locker in your house then that could be used. Saving is 'required' when there is some emergency or urgency for money. In those situation (may be medical, personal, business etc etc) you need the money urgently. Without any delay. Whereas Investment is necessary for getting more profit out of money you have. It is money working for earning more money. However investments have lock in period, during which you can not withdraw it even if you need it. Some investments allow withdrawal with major fees. This ultimately results in loss of money.
Bottom line is 'keep saving money for emergency and keep investment for earning more money'. Both are important.
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Previously I mentioned about various passive ways of income. One of them was create youtube channel and earn by creating videos. Lot of people mentioned that creating youtube videos takes talent and concepts. It need technical(video editing expertise). However if you see recent trends on youtube there is something mushrooming called 'reaction videos'. You dont even need any talent or create anything useful. All you need is pick trending movie video and record your reactions while watching that video. That's it. Easy way of earning money or creating video content without having any talent.
Get iphone (you don't even need video camera) and you are ready to create video. The standard of these reaction has fallen so low that they react to the videos from other youtubers.
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I would like to join this campaign.
Name : lordquanta
Rank : Member
Current post count : 150
BTC Address: 1AeivF9LmphsczJqY3H9tpAQKSAD8qKn2A
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The economy of the country is in dire staits due to direct impact of demonetisation of currency.
Most of the small scale industries are either shutdown or on the verge of shutting down. Unemployment has
increased tremendously. Long term effects can only be scary, at the most.
Could you please share the statistics backing up your claim or any survey results? This would be helpful in understanding the magnitude of the impact. Knowing how much destruction has happened would be instrumental in assessing current situation. |
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Indeed it is very important for everyone (including me) to understand never ever invest in MLM scam. There will be situations where your friends and colleagues will be happily investing in these scams and not necessarily under you but someone else. You'll not get any referral commissions out of their investment, however when you know a scam is in process then you can't explain it to people aka your friends who are happily investing because they are getting regular payments. You became a bad person if you explain them about scam. They will think that your jealous of their success. And you don't want them to succeed. This goes on till scam is getting fresh investments. Once scam is exposed and promoters runs away with money only then they will understand their mistake. There is quite good chance that you may still be hated because they'll think that you jinxed it.
Thus my opinion is stay away from MLM no matter how big you could earn. Ultimately it is other peoples money is getting robbed. Whatever you may earn it is from that loot money. Thus say no to MLM scams.
Big problem is explaining people MLM scam and warning people against scams especially when they are receiving regular payouts.
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Here is a interesting, hypothetical situation. What will you do if there is a MLM scam going on and it is in early stage. It is assuring 10% monthly return in bitcoins (of course it has that referral bonus part as well but it is optional, you don't need referral as you are getting 10% on your investment.). B'cause of it's early stage, people are investing happily and getting returns monthly. In short equation of incoming source money > outgoing money. By looking at situation, let's say this scam/scheme will go on two more year. There are some people who rip benefits from these kind of scams/schemes as they invest very early and in large chunk.
Will you invest in such scheme well before it vanishes with bitcoins/money?
It's a scam and I don't normally mix scam with investment because they are not meant to be together but if you will push me to the wall I will just try to determine the stage of the NLM; is it at the beginning, middle or end stage? It's very difficult to find out the stage but if it's at the beginning then the risk will be less so I can invest else forget you won't get me to invest. It does not matter if the MLM is at the beginning stages, a scam is a scam and there is no way around it, even if for some miracle you were able to obtain all your money back and even some profit you can be sure that many people wont and you will be an accomplice of the scam. Here's the thing. If those other people are investing in the MLM scam, they are accomplices of the scam too, or at least they want to be. (unknowingly) I guess you can say they get punished, and you don't. This question is really interesting because it puts morals against personal interest. You have a chance to gain profit at the expense of someone else, but regardless of what you do it won't stop the MLM scam from happening. I will admit it is an interesting question, but while the scam in question will keep happening you must understand that by not investing in it, you are shortening the life span of the scam, even if just by a little time, if enough people do that then the time of the scam is greatly diminished and less people get scammed. Yes, this is indeed interesting hypothetical situation where if you make correct moves at right time then you could earn in $150k/month but at same time you are earning than money at expense of others loss. Recently i came to know that some people are earning in range of $ 149515.30 per month. When stakes are this high do you really think it is easy to stay away ? |
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In a core bitcoin is a digital Currency. However people have made it in to the commodity n investment asset. For me in current form one of power of bitcoin is quick transfer of currency from one end of world to other end of world. Honestly it is so fast given current load on blockchain is high.
This ease and fast transfer makes them ideal for transfer across continents. It would have been really nice if it was less volatile resulting high adoption rate. This would have helped it in becoming as global currency than an asset to keep for long.
Don't you think power of bitcoin is as currency and not as asset?
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How will this alliance help bitcoin users? Or will it help bitcoin companies to manipulate bitcoin prices in Indian market irrespective of what international market offer?
What kind of self-regulation are they talking about?
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If it won't require me to invite friends into it and I know I'm early enough, I would if I have the money to spare.Drop in some cash, take it out along with interests, and the leave without looking back. The internet has made this a lot easier now, though I think it becomes harder to game them. A relative keep on insisting that I deposit some bits in btcriver.com, swearing he made money out of it. Just so he'd stop talking about it, I deposited a small amount and then just disregarded it. Now he's complaining that it won't let him withdraw again. I've been tracking the money I deposited there and I redeposit the profits. I'm waiting for all of the deposits to mature now. If their scammer system only tracks how many times money has been deposited to an address and it allows people to get bits at least once, I might still be able to get my money back.  Yes, there are some bitcoin mlm scheme/scams which do not require inviting other friends(person). You could create dummy accounts for you and invest via them as your referrals. This way you are putting all your money and not inviting other people. It is possible to get money back from MLM scam if : 1. you enter in early stage 2. You don't reinvest your returns from scam. This way it is possible get money out of MLM scams. When it comes to MLM, some people become very possessive about their legality and defend them as legit. There is no way you could get money from this kind of MLM thing because from the start you join you already been scammed away. Just need some time to make you believe that you are going to get your money but in the end they can't pay you up. Most scheme that I saw before was they make you believe that you have huge amount on your account and when you want to withdraw it takes a long process and in the end they dont give any penny in your account. So it is better to stay away from this kind of MLM thing before you regret it I'm strongly against MLM schemes and don't like the anatomy of it at all. Now accessing MLM schemes objectively, it is very much possible to benefit from MLM and it happens all the time with MLM scams. If you enter into the scheme very early and don't reinvest then and then you could earn benefit (or at least get your investment back) from it. Because of early participation the promoter of MLM scheme has to give returns to you otherwise you will not endorse them. Thus who gets paid regularly goes into endorsement mode and recruit others. Till incoming money is greater than outgoing money scheme goes on. Problem is for rest of recruits who either join party late or early investors keeps on reinvesting money and never getting initial money out. Again greed plays important part here. That is why stay away from MLM scams. |
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Physical Gold has it's own benefit which paper Gold can not match. Like quick liquidity. If you possess gold at your home then in case of emergency you could readily liquidate gold and it is globally accepted.
* It is true that physical gold needs protection, and you're responsible for that. So you take all measures to protect it (insure it).
* Physical gold could be carried in form of jewelery as well.
* Purchasing Gold from GoldSmith could be pain in countries like India and customer could feel exploited.
Paper Gold solves problem of security. When big companies are offering paper gold they back up it as well.
* Paper gold is much better for investment purpose. easy to purchase and desolve as well.
* you could access your paper gold via internet(from anywhere).
* You don't have to worry much if you have invested with reputed company.
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