Q7
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May 02, 2015, 07:32:47 AM |
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For all I know they are using the fund to perform arbitrage trading and whatever profit will be returned back to the account. These type of trading method require huge amount of fund scattered everywhere in different exchangers to take advantage of the spread during high volatility. So, it's like an investment option but with higher risk. Imagine if the owner run away with all the btc or on another scenario, they were not able to pay you back. You have to consider all these.
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Lorenzo
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May 02, 2015, 12:42:59 PM |
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^This. Bter was giving daily interest to people for keeping their Bitcoins in their wallet and then one day they were apparently "hacked".
The sites which are advertising that is to lure people in and once they accumulate enough funds they run away. Best just keep your funds in your wallet.
I doubt Bter was a scam. Personally, I believe they that they were genuinely hacked although I guess it's pretty hard to prove it either way. For all I know they are using the fund to perform arbitrage trading and whatever profit will be returned back to the account. These type of trading method require huge amount of fund scattered everywhere in different exchangers to take advantage of the spread during high volatility. So, it's like an investment option but with higher risk. Imagine if the owner run away with all the btc or on another scenario, they were not able to pay you back. You have to consider all these.
Unfortunately, "arbitrage trading" is also a common excuse used by ponzi scams to hide the true nature of their "investments". It was the excuse that Bitcoin-Trader used as well as the same excuse given by Pirate's ponzi.
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scryptasicminer
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May 02, 2015, 04:49:04 PM |
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^This. Bter was giving daily interest to people for keeping their Bitcoins in their wallet and then one day they were apparently "hacked".
The sites which are advertising that is to lure people in and once they accumulate enough funds they run away. Best just keep your funds in your wallet.
I doubt Bter was a scam. Personally, I believe they that they were genuinely hacked although I guess it's pretty hard to prove it either way. For all I know they are using the fund to perform arbitrage trading and whatever profit will be returned back to the account. These type of trading method require huge amount of fund scattered everywhere in different exchangers to take advantage of the spread during high volatility. So, it's like an investment option but with higher risk. Imagine if the owner run away with all the btc or on another scenario, they were not able to pay you back. You have to consider all these.
Unfortunately, "arbitrage trading" is also a common excuse used by ponzi scams to hide the true nature of their "investments". It was the excuse that Bitcoin-Trader used as well as the same excuse given by Pirate's ponzi. Certain trading strategies involving arbitrage still work during market volatile time.
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pitham1
Legendary
Offline
Activity: 1232
Merit: 1000
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May 03, 2015, 09:04:37 AM |
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People knew that 7% per week is unsustainable. Yet people did deposit bitcoins with him. Greed can make people throw caution to the winds. As for me, I would be very sceptical of a wallet which pays interest. Only if was from an established company, with wide ranging interests (not just crypto) and verifiable financials, would I even consider it.
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btcsnatcher
Member
Offline
Activity: 69
Merit: 10
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May 03, 2015, 09:14:06 AM |
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how would such wallets pay interest??? Even if they did i don't suppose such interest would represent considerable fraction of the original deposit??? And if they paid interest every time a new deposit or withdrawal would result in a different amount to be paid wouldn't it???
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louise123
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May 03, 2015, 10:46:32 AM |
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Guys, when you find or magically create this wallet please let me know. I would like to have one.
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btcsnatcher
Member
Offline
Activity: 69
Merit: 10
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May 03, 2015, 04:22:35 PM |
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you'll be the first one to know...
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randy8777
Legendary
Offline
Activity: 896
Merit: 1000
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May 03, 2015, 04:28:39 PM |
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how would such wallets pay interest??? Even if they did i don't suppose such interest would represent considerable fraction of the original deposit??? And if they paid interest every time a new deposit or withdrawal would result in a different amount to be paid wouldn't it???
people always look to find ways to make a few bits. but most of the time it's not worth it. reward is too low to make it interesting for people.
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btcsnatcher
Member
Offline
Activity: 69
Merit: 10
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May 04, 2015, 04:47:49 AM |
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how would such wallets pay interest??? Even if they did i don't suppose such interest would represent considerable fraction of the original deposit??? And if they paid interest every time a new deposit or withdrawal would result in a different amount to be paid wouldn't it???
people always look to find ways to make a few bits. but most of the time it's not worth it. reward is too low to make it interesting for people. I think you're right... people always want more. also the probability of getting a high payout in any given faucet is highly unlikely. So it could indeed be a waste of time. Anyway thanks though.
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Mt. Gox
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May 04, 2015, 08:29:08 AM |
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Certain trading strategies involving arbitrage still work during market volatile time.
It would be difficult to know if they are actually doing what they claim to be doing unless they are completely open about their funds. People knew that 7% per week is unsustainable. But many people including coblee invested into it, and theymos let them show their ads on the forum. People knew that 7% per week is unsustainable. Yet people did deposit bitcoins with him. Greed can make people throw caution to the winds. As for me, I would be very sceptical of a wallet which pays interest. Only if was from an established company, with wide ranging interests (not just crypto) and verifiable financials, would I even consider it. An established company wouldn't deal with cryptos anyway. They might convert the cryptos into fiat but then you could lose out if the BTC price appreciates. how would such wallets pay interest??? Even if they did i don't suppose such interest would represent considerable fraction of the original deposit??? And if they paid interest every time a new deposit or withdrawal would result in a different amount to be paid wouldn't it???
people always look to find ways to make a few bits. but most of the time it's not worth it. reward is too low to make it interesting for people. Expected reward could actually be negative if the risk of it being a ponzi and collapsing is taken into account.
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Dear GOD/GODS and/or anyone else who can HELP ME (e.g. MEMBERS OF SUPER-INTELLIGENT ALIEN CIVILIZATIONS): The next time I wake up, please change my physical form to that of FINN MCMILLAN of SOUTH NEW BRIGHTON at 8 YEARS OLD and keep it that way FOREVER. I am so sick of this chubby Asian man body! Thank you! - CHAUL JHIN KIM (a.k.a. A DESPERATE SOUL) P.S. If anyone is reading this then please pray for me! [ www.chauljhin.com ]
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BitcoinAddicts
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May 04, 2015, 05:28:47 PM |
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any bitcoin wallet that gives you interest, controls your bitcoins and there are risk they can scam you whenever they want don't fall in trap of small interest and always use official wallet
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| ▄█ ▄██▌ ▄████ ▀▀▀█████▀ ▐███▀ ██▀ ▀ | . | ► | ▄▄▄███████▄▄▄ ▄▄█████████████████▄▄ ▄███████████████████████▄ ███████████████████████████ █████████████████████████████ ███████████████████████████████ ███████████████████████████████ ███████████████████████████████ █████████████████████████████ ███████████████████████████ ▀███████████████████████▀ ▀▀█████████████████▀▀ ▀▀▀███████▀▀▀ | | ► | ▄▄▄███████▄▄▄ ▄▄█▀▀███████████▀▀█▄▄ ▄████▄▄███████████▄▄████▄ ████████▀▀▄▄▄▄▄▄▄▀▀████████ ███████▀▄██████▀████▄▀███████ ███████▀▄█████▀ ▐█████▄▀███████ ██ ███ ████▀ ▀▀█████ ███ ██ ███████▄▀█████ ▄█████▀▄███████ ███████▄▀███▌▄██████▀▄███████ ████████▄▄▀▀▀▀▀▀▀▄▄████████ ▀████▀▀███████████▀▀████▀ ▀▀█▄▄███████████▄▄█▀▀ ▀▀▀███████▀▀▀ | | ► | ▄▀▀▀▀▀▀▀▀▀▀█████████ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█ ██████████████████████ ██████████▄▀▀▀▀▀▀▀▀▀ █ ▄▄▄████████████████████▄▄▄ ████████████████████████████ ██████████████████████████████ ███████████████████████████████ ███████████████████████████████ ███████████████████████████████ ▀███████████▀ ▀███████████▀ ▀▀█████▀▀ ▀▀█████▀▀ | | . ..SPORTS │ CASINO │ ESPORTS.. | . | |
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bandana
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May 27, 2015, 03:24:57 AM |
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getting interest for depositing bitcoins sounds interesting but holds alot of risk. what if some day you deposit a large amount of bitcoins and the other day you find it missing or if your wallet gets crashed.
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harrymmmm
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May 27, 2015, 03:50:46 AM |
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I haven't seen anyone mention bitfinex. They (used to?) offer interest on btc and fiat within the exchange. Maybe that's not there now. dunno. The risk is that they just run off with your coins, but they've been looking pretty good for a long time now.
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lahm-44
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May 27, 2015, 12:42:59 PM |
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you should try some lending sites if you need intrests on your money but keeping your money on the wallets which pays intrests are 99.9%risking they are either ponzi scheams or scams in both the cases you will losse your money..and if you really want to lose your money then i will suggest even gambling is also much better than ponzies atleast you can try your luck there
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Lorenzo
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June 01, 2015, 01:09:37 PM Last edit: June 01, 2015, 01:25:59 PM by Lorenzo |
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^This. Bter was giving daily interest to people for keeping their Bitcoins in their wallet and then one day they were apparently "hacked".
The sites which are advertising that is to lure people in and once they accumulate enough funds they run away. Best just keep your funds in your wallet.
I doubt Bter was a scam. Personally, I believe they that they were genuinely hacked although I guess it's pretty hard to prove it either way. For all I know they are using the fund to perform arbitrage trading and whatever profit will be returned back to the account. These type of trading method require huge amount of fund scattered everywhere in different exchangers to take advantage of the spread during high volatility. So, it's like an investment option but with higher risk. Imagine if the owner run away with all the btc or on another scenario, they were not able to pay you back. You have to consider all these.
Unfortunately, "arbitrage trading" is also a common excuse used by ponzi scams to hide the true nature of their "investments". It was the excuse that Bitcoin-Trader used as well as the same excuse given by Pirate's ponzi. Certain trading strategies involving arbitrage still work during market volatile time. True, but "arbitrage" is also a perfect excuse for a ponzi scheme to cover the nature of their operations. And the fact that those traders that actually do perform arbitrage tend to keep the details of their operations secretive in order to maximize their returns doesn't help either. Personally I wouldn't trust any service that accepts investments if the source of the profits is simply attributed to "arbitrage". I haven't seen anyone mention bitfinex. They (used to?) offer interest on btc and fiat within the exchange. Maybe that's not there now. dunno. The risk is that they just run off with your coins, but they've been looking pretty good for a long time now.
They still do. You can choose to offer liquidity to traders by providing funds for people to use to margin trade: Our liquidity feature goes hand in hand with the margin trading feature described above. If you are not a trader and prefer safer investments, this feature is for you. Bitfinex allows you, using your deposit wallets, to provide liquidity in the form of Bitcoins and/or dollars to traders. You can enter offers with your own chosen terms (return rate, duration, and amount). When an offer is taken by a trader, the money in your wallet will be used to buy or sell Bitcoins, and a CFD (credit) will be opened. When the position expires (the trader closes his position), Bitcoins are bought or sold back and the money is returned to your wallet.
You are not exposed to exchange risk when you lend with Bitfinex. The exchange risk is taken on by the trader, and, in case his position loses money, he will cover the loss with funds in his trading wallet. Link: http://www.bitfinex.com/pages/howitworks#lending
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