Ok I have done a huge research and now I'm sure about the business.
I have had meeting with one guy who met Amit personally (I have photo with him and Amit Bhardwaj on a yacht in Dubai). He is also one of the guy on the recordings in GainBitcoin mining pools in China, on Youtube.
- As conclusion of your huge research was positive towards legitimacy of gainbtc business, it means research must have found the answer to the grave mathematical inconsistencies in their hashrate plan (this has been explained in detail initial part of this thread). Kindly explain how gainbtc is able to share amount of profit which is not possible through mining bitcoin pool in the first place.
- Members who have doubts about gainbtc will be very happy if details of that "huge" research is shared here instead of half line conclusion? It will be very helpful to know what kind of data/information helped in reaching to that conclusion. Other members who are finding loopholes in the business model of gainbitcoin, will get answers on legitimacy of gainbtc.
Everything seems to be cool - the connection with HashOcean (copied content from HO site) is true and Amit said that he just copied some info not to waste time and that's the reason they will change their website at 10 January probably.
I think this could be a true story but even real seemed to me that Amit did HashOcean which gave him the money to start the real bitcoin mining pool, and now we have GainBitcoin whos owner is a famous guy in Bitcoin world.
- Hmm, so as per above quote, Amit might be behind HashOcean scam and those looted bitcoins are now being invested in gainbitcoin. With what logic Mr. Amit will not do the same with gainbtc? That is he may run the scam for two to four year and then disappear with all bitcoins. What has exactly changed this time that has made him not to scam via gainbtc (If and only if he was really behind Hashocean)?
- Recently some members who attended the meeting with Mr. Amit B have shared details of that meetings, the specific point which caught attention is interesting to share here. In that meeting while answering questions about business and security on whether gainbtc will pay assured amount to the investor, this information was given: In order to assure payment to the investors Mr. Amit has created back up of all the payment for next 25 years.That is payable amount to customer for next 25 years is safely kept aside. So even if Mr. Amit stops mining bitcoins any time in future, customers/investors will keep getting paid. Not only that Mr. Amit has created back up money of this back up amount. So there is two hundred per cent assurance from gainbtc about payment. Sounds great, Right!!
Next piece of information is how big is their business and how honestly they are processing payments. gainbitcoin is paying some 20 to 35 odd customer around 1 crore per month. and some 20000 to 30000 customers/investors who are getting in lakhs of rupees per month.
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- When I cross checked above details on payment following details came up:
20 to 30 people getting 1 crore per month, means at least 20 crore per month (i'm chosing lowest number).
This results per year = 20 x 10000000 x 12(months) = 2400000000 = two billion, four hundred million Rupees
20000 to 30000 thousand people earning in lakhs. Let's take lowest of member number and lowest of lakh (one lakh).
This results per month = 20000 x 100000 = 2000000000 = Two billion per month
This results per year = 20000 x 100000 x 12 = 24000000000 = twenty-four billion,
If we sum up above two levels of associate income per year we get
24000000000 + 2400000000 = 26400000000 twenty-six billion, four hundred million rupees
At this stage, gainbtc is paying 20020 associate somewhat twenty-six billion, four hundred million Rupees. As per claim/information shared, payable amount for coming 25 years has a backup. That means First back up money set aside is:
26400000000 x 25 = 660000000000 Six Hundred Sixty Billion Rupees
Then there is back up of first back up stored, so that gives
660000000000 x 25 = 16.5 x 10^12 = 16.5 Trillion Rupees
16.5 Trillion Rupees has been kept aside for payment by Mr. Amit. And remember this calculation is for only top two levels of associates. Those who are earning in thousands/hundreds have not been included.
Now very obvious question is, has gainbtc or Mr. Amit mined 16.5 Trillion Rupees worth bitcoins already that they could keep that much amount in back up?
Till this date, People who attended these seminars have not bothered to think on. Instead these guys were spreading that information like Gospel Truth.
Who are we kidding here, 16.5 Trillion rupees kept as backup for payment!!
Why are we ignoring mathematics of profit?
Those who want to invest/waste their bitcoins in gainbtc are free to do so. However promoting it without any proof about its profit-making model is not good.
Is their payments so far regular? Yes, and they will remain regular till incoming money is greater than outgoing money.
How long will it take to reach the point where payment may become problem? not very soon (at least not in weeks or some months). It is due to their business model practice. Normally MLM scam needs more peoples under a person. Here one person can create tens/hundreds/thousands/unlimited dummy account by himself and invest all by himself. Without pulling other person.
How this dummy account work?
While creating 1st new account mention username/email/passwd like user1/user1@email.com. Next window will appear which will ask same information, Fill out it and account is created.
Lets say user1 want to create dummy account now. procedure is:
Click on registration again and mention name user1_2/user1_2@email.com/passwd. Next window will appear in which you mention user1_2/user1@email.com/passwd.
Notice how next window has email id same user1. Your dummy account is created. You even dont have to own email account which you mention in first registration window. With this way, by mentioning any number of email in first window and old email id on second window dummy accounts are created.
Interesting point is gainbtc investors who want you to invest in gainbtc will "teach" you all these tricks to get more so called benefit.
That is why this program may run for some extended time. This is my estimate based on their working model.
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