All.
I wish you all the best for the future, but I'm sad to say I've decided to sell my (small) investment in HIRO. I'm only posting this as advice to other investment holders, as previously I've stated I believed in HIRO but unfortunately that's just no longer the case.
I've seen my investment decline to only 1/3 of it's original value, and I've no reason to believe the decline will stop. It's already in the 600s on Poloneix (668 Polo, 711 MintPal) I stopped mining a long time ago for the same reason. A pity because I LOVE the X11 algo, and it's quiet/cool/lowWatt nature.
I've seen nothing which would prevent a fall to around 200 or 100, or even worse, in the 10's, rendering my investment worthless.
Hopefully the plan succeeds, and Hiro becomes "The GPU Miners Coin", but I'm just not seeing it myself. Others may think otherwise and I respect that, this coin does have a good chance of succeeding, but just not good enough for me.
What could have been done better? While I can see some action from the developers on technical matters, there has been zero action in regards to marketing and other promotion. I see that as the failure of this coin. If I was a cynic I would say that the efforts of HiroS and Joerii have simply kept as many people holding as possible, only delaying the inevitable, perhaps to their advantage. Still, I'm not sure what could realistically be done in the current market anyway.
I can say I have been impressed with HiroS's continued technical development of the coin, and there is fair evidence that he does actually believe in it.
In any case, I wish you all the best, and good luck. I'll be keeping an eye on Hiro over the next few months still - I may even buy back in at some point in the future.
You people really now nothing about trading and investments. NEVER sell when the market is this low, NEVER. Just turn your PC and go somewhere, do not look at the exchanges for a few days at all. BTC related volatility and price decrease took place several times so far and EVERY time bunch of people reacted the same way - no patience to get through it and end up buying high and selling low. Sigh.......good luck bud. |
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AFAIK you never will get email to confirm a withdrawal.
Seems your account has been hacked and some1 withdrew 1.7 BTC.
I figured I would get an email on taking it out like must exchanges do. This place is a joke.... never again. You could be right, i never tried withdrawal. I have read here that withdrawals are working, that supplied evidence. Some1 might changed e mail adress for the time of this 1.7 BTC withdrawal, confirmed withdrawal with his e mail address and restored your address. Ask support what e mail address was used for this transaction or if a unwanted e-mail-address-change was applied. I have submitted 5 support tix in the last 4 hours... no response. I checked email and it is mine. When I did the .46 withdraw I received no confirmation email.... great security! Just one question, if somebody hacked your account and stole 1.7 BTC, why would they leave 0.46 BTC in the account for you to withdraw?  ? |
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There's up to 5 year contracts. And after time is over, I assume you can either renew contract or just walk away.
What 5 years??? If you get 1TH, in 1 year time it will be worthless with this difficulty increase, not to mention years 2-5. |
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Haha. Its a deal. Good luck.
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Only 10 active buy orders on Mintpal, I am really trying to be positive about this but it does not look bright.
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April 9, 2014 trading results:
BTC-arbs: +1%
Bitcoin trader: +0.97%
Guess yesterday both services were quite consistent.
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Ok, here is that mini interview I promised to post. Bitcoin trader Canadian representative asked Michael Brandenburg, Bitcoin trader Head of Marketing and Business Development, to answer a few questions about their business model.
1) Do you foresee any changes to the way you do business in 6 months and a year from now?
Not really. We are of course observing the crypto market very closely and in particular the so called altcoin market. So there might be new products being offered, but in general we will operate in the same way.
2) How do you see the future of mining? Since November BTC prices have dropped to less than half of what they were. Mining difficulty has more than doubled. Is mining still profitable and for how much longer in your opinion?
Bitcoin Mining is a very sad story to be frank. Oversupply of ASIC miners generated a hashrate beyond the 'natural' growth rate of bitcoin. At the moment, considering the current bitcoin exchange rate, mining is almost unprofitable. Whatever mining equipment is bought now, no profit will be made - on the contrary. We bought our mining equipment early and so far almost all who purchased a mining contract are in profit.. Also most of our equipment that was bought prior to the launch of BT paid off already, so we can increase the hash rate gradually. Since the beginning of February nobody is even buying mining contracts anymore. This might change once the btc price goes back to a level of at least $800.
3) How many clients do you have?
Currently close to 3,000.
4) What is the largest investment by any one person?
We have a handflull of clients who invested 50K in trading shares, as well as 50K in mining shares and another dozen clients who invested 50K either in trading or mining shares.
5) How many staff do you have?
Currently eight, that included two part time staff members.
6) How did the company first get started?
Bitcoin Trader is the brainchild of John Carley and two of his closed friends who are also dormant shareholders. John and his associates realized the potential of Bitcoin in 2011 and started mining the same year. With emerging exchanges they started trading as well. In 2013 after the Cyprus financial crisis, when bitcoin became known to the public, they've developed their pastime activity into a working business model.
7) Are you looking to expand the business? ie. other offices/staff, new investment products.
Yes. John is traveling to South East Asia during the coming weekend to train two more traders during a course of six weeks to take advantage of the strong potential of the Chinese exchanges (unfortunately most of their websites are not available in English). We are of course aware of the current rumors that the Chinese government may shut down exchanges within their territory. Others will open in Hong Kong or Singapore then. The Asian market is a strong one for bitcoin and thus for us, we have excellent results from the Philippines and South Korea for example.
In addition we are evaluating Litecoin Mining and Trading.
We have ordered 5 of the first available ASIC miners and will evaluate their potential for commercial usage after delivery in July. If they deliver what they promise we consider to add a Litecoin Mining Pool to our portfolio. Litecoin ASIC mining is new - it doesn't even exist as we speak. Considering the still very low Litecoin difficulty, we consider Litecoin ASIC mining to be profitable for at least 24 months, even at the current Litecoin price.
Same for Litecoin trading which is still in its infancy, since very few exhanges enabled Litecoin trading, but this might change in the course of the year.
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your site is looking good i am looking forward to invest money in it but you know price of bitcoin has raised too much so i have to think twice before investing money in hyip.please provide be with proofs so that i can invest with confidence
This is not my site, I am just another investor using them. So far I have been quite happy with their service. |
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There is a mini interview with Bitcoin trader CEO, I ll post it later. In this interview he answers questions posted by one of their representatives and states their intention to expand into LTC trading and mining markets in the future. He also explains that they plan to start using Chinese exchanges more frequently. This all sounds as a healthy development plan. Regarding BTC-arbs, I guess you ll have to direct your questions to their support since I have no info about them being present on this forum.
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Absolute HORSESHIT. After you realize youve screwed yourself you can try to recover a fraction of your loss by hoping for a brain dead fool to come along.. Same for the myth of reselling used, obsolete equipment,... give me a break! Why would anyone buy my GHs once difficulty goes up unless I offer them at significant discount? I was talking about reaching ROI, please be realistic. |
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I was also able to withdraw, it took somewhere between 8- 24 hrs. I am not sure why there withdraw time would be so slow. I like the fact that btc arbs pays in btc though.
Yes, that is a better option. However, I like to differentiate, not to keep all of my eggs in the same basket. That is why I use both services. |
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Ok, have been following these cloud mining threads advertising different cloud mining services. Could anyone pls show me some kind of calculation how this can be profitable and how can I get my ROI back?
Whenever I use available calculators I end up paying 7 BTC for 1 TB which gets me back 6 BTC in a year assuming 40% difficulty increase per month, which is an overage over the last few months. I am prepared only to pay for the service in BTC, any kind of fiat payments are not acceptable ATM.
So, what am I missing here, why is math faulty?
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I guess yesterday was a good day to do arbitrage, over 2% rice difference between Bitstamp and BTCe at one point.
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April 7, 2014 BTC arbitrage results BTC-arbs: +1.49%  Bitcoin trader: +1.11%  I guess things picked up a bit after a few slow days. BTC-arbs trading report states there was $10 price difference between Bitstamp and BTCe at one point. Anyway, I made another successful BTC-arbs withdrawal and it went through after 14 hours. |
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I have decided to minimize my exposure towards BTC-arbs for now, these last few days with extremely low profits make me uncomfortable. Also, if they are going to run, this is going to happen in the next few weeks since bunch of early investors are about to reach their full ROI, 100% ROI soon. So, until the end of April, I will reduce my investment to 0.2 and see how it goes. This is something I recommend to everybody else.
On the other hand, I will be increasing my investment into Bitcoin trader, have read several posts with their local representatives explaining their future plans to go into alts mining and alts arbitrage in the future. In addition to them being almost half year on the market, it gives them more credibility, IMO.
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April 3, 2014 trading results: Btc-arbs: +1.68% Bitcoin trader: 1.02%  It's possible to pay in BTC and get payed in BTC too? Yes, but there is a difference. With Btc-abrs you pay in BTC and you get your interest in BTC too. With Bitcoin trader, you can pay in BTC but your BTC gets converted to USD at market rate at the time of deposit. Do not forget to withdraw profits often, at least once a week, since these are still a very young services. So with Bitcoin Trader i can't withdraw my profit in Bitcoin? Yes you can. But you get your profits in USD which can be exchanged into BTC at the time of withdrawal. Ah ok, that sounds nice. I will give it a shot and feedback. Sure, let me know if you need more info. Just remember to go slow until you are happy with the service. |
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i've tried this. the main issue i had was the amount of it takes to transfer BTC between exchanges. there is more risk if it takes long. volatility also increases risk.
but hearing that it can be profitable makes me want to look into it again.
True, volatility increases risk. But volatility is the essence of arbitrage. If all prices would be the same and stable, no trade there. |
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April 4, 2014 trading results:
BTC-arbs: +0.63%
Bitcoin trader: +1.14%
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April 3, 2014 trading results: Btc-arbs: +1.68% Bitcoin trader: 1.02% It's possible to pay in BTC and get payed in BTC too? Yes, but there is a difference. With Btc-abrs you pay in BTC and you get your interest in BTC too. With Bitcoin trader, you can pay in BTC but your BTC gets converted to USD at market rate at the time of deposit. Do not forget to withdraw profits often, at least once a week, since these are still a very young services. So with Bitcoin Trader i can't withdraw my profit in Bitcoin? Yes you can. But you get your profits in USD which can be exchanged into BTC at the time of withdrawal. |
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April 3, 2014 trading results: Btc-arbs: +1.68% Bitcoin trader: 1.02% It's possible to pay in BTC and get payed in BTC too? Yes, but there is a difference. With Btc-abrs you pay in BTC and you get your interest in BTC too. With Bitcoin trader, you can pay in BTC but your BTC gets converted to USD at market rate at the time of deposit. Do not forget to withdraw profits often, at least once a week, since these are still a very young services. |
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