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Now the site has gone, I'd like to hear from people who participated..
Do you really think they made off with much money? I really don't think they would have got any sizeable investments probably the odd $20 here and there.
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Let people put their money wherever they want. This is not a child forum, you know.
Or you should also police the altcoin forum because most coins will die pretty soon, the gambling section because people may lose, the food people eat because it might not be the healthiest option, etc
Anyone seriously invested in altcoins is a lost cause. |
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It still paying daily. But you cant know when it stop  Keep in mind your don't own any funds until it has left their system and is back into your bitcoin wallet... Numbers on their website are just that. They can cut and run at any moment! |
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How many staff from HSBC went to jail for 5 years after laundering hundreds of millions billions for the mexican drug cartel?
I'm pretty sure nobody did... They got off with a fine or something, correct me if I'm wrong!!!
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I just discovered in a wood, not far from my house, a magical field in which planting money trees grow the fruits of which are money of the same denomination of the ones you planed.
To be clear if you use 1$ coins fruits are 1$ coins as well...and so on.
But I need you to send me some coins to get it started, let me know if you are interested.
PS: I will take care of watering seeds an seedlings of course
Exactly, this is how stupid this investment appears for people with any sense. |
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And BTW a Casino can run away too with BTC so then it that case you should also not advertise the casino's because there is always a risk involved.
That's a fair point. Although, casino's are a sustainable model, ie it could continue to bring in a steady profit indefinitely so chance of the owner to cut and run within the time of your deposit to withdrawal is highly unlikely. |
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Is it really that impossible? I cannot come close to calling myself an investor, matter of fact, this would be my first bitcoin investment. Can someone explain why it's stupid to invest a few bitcoins in this company?
You taking a huge risk. It's a very high risk investment, some says it's a Ponzi type scheme. {So be very careful} Do not invest, if you are not someone, who takes risks. Davida - If I get a bad trust rating for taking part in this, they would have to give everyone a bad trust rating, who participate in that. We love to take risks, and we know the dangers involved with it. If you cannot see a 4% daily ROI is impossible for any company to do, and the posts in that forum pointing to the HYIP link, you should not "play" here. Wow it's confirmed. You are the idiot I was referring to in the initial post!! Nice to meet you. Either that or you are just trying to convince people to use your referral link. I don't know which is worse. Either way, welcome to my ignore list. |
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Is it really that impossible? I cannot come close to calling myself an investor, matter of fact, this would be my first bitcoin investment. Can someone explain why it's stupid to invest a few bitcoins in this company?
Please explain why you think a company would freely give away such money? If they had such a winning proposition, a bank would surely lend them the money at a much lower rate than 4.5% daily. EDIT: Same applies to you, I will ensure to leave you a negative trust rating the moment this site runs away with peoples money, unless you removed the sig. Like i said previously, you are assisting with this scam, and from this point you can't say you weren't warned. |
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How is this, in any way different from someone "gambling" his money. {They know, the house has the edge, and they still do it} The guys playing on the stock exchange, play this game too.... Calculated risks are a choice and a rush, so labeling people, who take risks, with silly statements, just shows lack of ......Hmm let me not label too.  Drop some coins there, and live on the wild side. And when you do, use my signature, I will give you 50% of the bonus I get. It's very different. It's not a calculated risk. They advertise 4.5% return forever, no mention of risk, no mention of a 'game' or taking a chance like you mention above. How can I calculate the risk if there isn't any mention of any? Nor do I know when these guys are going to cut and run. How I see it... By including the link in your sig, you are happy to accept potentially stolen funds from them, in exchange for advertising, you are assisting them in scamming more people. Therefore you are JUST AS BAD as the scammers themselves. EDIT: This should be reflected in your trust rating the moment it goes belly up. |
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In my opinion, anyone that includes the sig on their account should be just as liable as the site owners, deserving of a negative trust rating at a minimum ... After all, they will potentially be some of the only few who profit from this scam!
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I have noticed a couple of people with a link to www.cryptcominer.com in their sig. They are promising 4.5% DAILY RETURNS FOREVER. OK I know it obviously isn't true, it's just annoying me how they can try to trick people like this. I am assuming it is some sort of pyramid scheme. Look at what they are promising.
Are people really this stupid? |
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If you look at the Fibonacci fan lines from high of $668.42 down to $309 on the btc-e chart, it is quite obvious that if the price had remained above $500 for another 12-24 hours then the price would have broke through the final line. (and there was some pretty strong resistance at $500 before that strange trading began).
EDIT: Also I was just looking at the bitstamp chart, the fibonacci fan from high of $683.86 down to $442 was also approaching a crucial moment, the 38.2% retracement. This trading happened at a pivotal moment in both bitstamp and btc-e price. Make of it what you will.
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Nice theories! I guess they may be true, but I think it's even more probable that it is some BTC-e-internal bot trying to get the trading volume higher in order to get more exposure for BTC-e (which they accomplished) and also appear in the first slot on Bitcoinity!
If it were btc-e simply trying to boost trade volume i would expect it to build up much more naturally. Otherwise I really can't see how they would benefit from pulling a stunt like this!!! |
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Btc-e past 24hr trade volume: 40,000btc
btc-e normal 24hr trade volume: ~4000 btc
Therefore, estimated extra volume: 40,000 - 4000 = 36,000btc extra traded
If we assume this was 2 malfunctioning bots, and with a trade fee of 0.2%, this would mean the wallet balance of the bot would only needed to contain 0.2% (1/500th) of the extra 36,000btc traded.
36,000 x 0.2% = 72btc
So from this calculation, if the malfunctioning bot theory is true then someone has just lost about 72btc... Although, I'm not to sure about that. Would it really have continued for over a day?
Another theory/possibility is that this trading was intentional, perhaps by a big whale trying to cause panic and a price crash before buying back in at lower price. Although, for this be profitable you would have to first recoup the 72btc I calculated above.
So.... 72btc x $500 = $36,000 . Let's assume $36,000 was lost in fees to btc-e
As the price has only fallen $20 (4%), down to $480 since the "attack" started, this trader/manipulator would have to buy at least 1875btc ($900,000) worth of bitcoin to just marginally benefit from the new lower price he created, and to buy this quantity he would push the price right back up to above $500.
Maybe they thought their actions would have a much stronger impact on the market price?? Or, maybe I'm completely wrong!
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Who is to say Satoshi Bitcoin is a girl or boy's name?
I personally thought Satoshi was a boys name, but to quote from the "project description"..... Bitcoin is the future and we hope that future generations will grow up and be able to experience and live in financial indepedence. So we have to help our newborn daughter build her future based on that. If you fund us, t o help raise her, we will name her Satoshi Bitcoin. This way she will be spreading the message of Bitcoin to the people her age everywhere in the world. She will be the first bitcoin baby and she will become a living preview of the upcoming future of generation alpha, as part of a big community. Future is here! Be a part of a new era! Thank you for funding our little satoshi  The project finalises in 10 months and last i checked a baby finalises in 9 months, soo explain that one to me! |
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OK, the fact that his pledge ends in 10 months should say all that needs to be said.
Maybe it would be her birthday or something. Anyway its pretty weird project but some if crazy people donate to be godfathers and this happen for real imagine the news "Couple name their Child Satoshi Bitcoin" , "First Bitcoin Baby" etc I am pretty surprised most people answer so easily yes. Would you like everybody to know that you name your kid Satoshi Bitcoin? Your face and your kid face will be everywhere its not so simple! But how does he know it's a girl if it hasn't even been conceived? |
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OK, the fact that his pledge ends in 10 months should say all that needs to be said.
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Just so you guys can see where this mistake was made.... I just think the layout is wrong.. Why take a new line for miners fee but put the amount to send (the most important bit imo) over on the right like that.  http://imgur.com/vBgiogU |
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I almost made the same mistake using blockchain.info when sending a custom payment, the layout isn't very clear. It was obvious when i double checked but if I hadn't I could have done exactly same thing.
Take a look at what I'm talking about, in the custom send tab, the fee box is a lot more central than the amount box, I personally would have had them the other way around, more clarity is needed!!!
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