[BitcoinInvestments BI] Short-term 21 and 60 day certificates

[shakaru]

I would like to introduce everyone my new program for you to make a 300% return on your btc investment. Allow me to explain my service and how in as little as 3 weeks, you can earn like a miner without the setup cost or the power cost. Here is how it works.

Per every 1 btc you send to a unique Bitcoin address, you will in return get a pgp signed certificate with an issue date and a return date and to which bt address. I currently offer two types of contracts at 220% at 21 days, and 300% at 60 days with option to extend at a offered %.

Pm me if you are interested, or you can go ahead and call me on skype at
Btc.Invest  24 Hours a day, 7 Days a week.

[Zagitta]

And this works how?

Say i invest 10 btc for 60 days, will the start value then be 10 btc or how much 10 btc is worth in USD/Euro/whatever currency and then at the end i get paid 3* times the amount of currency my bitcoins were worth at the beginning?

If that's the case who on earth would be stupid enough to do that?

[padrino]

Great way to fund playing the market, with the volatility be careful you do not get caught.

(obviously the above is an assumption based on the logic I see in the OP)

[martok]

Per every 1 btc you send to a unique Bitcoin address, you will in return get a pgp signed certificate with an issue date and a return date and to which bt address. I currently offer two types of contracts at 220% at 21 days, and 300% at 60 days with option to extend at a offered %.

Who's option to extend? Yours or investor?

I'm in so long as:
a) investor can refuse to extend after the duration.
b) And this is the tricky one for BTC: You can offer reasonable security against default risk. That would probably involve your not being anonymous and some sort of asset security in place in the non-anonymous non-bitcoin market.

[shakaru]

Per every 1 btc you send to a unique Bitcoin address, you will in return get a pgp signed certificate with an issue date and a return date and to which bt address. I currently offer two types of contracts at 220% at 21 days, and 300% at 60 days with option to extend at a offered %.

Who's option to extend? Yours or investor?

I'm in so long as:
a) investor can refuse to extend after the duration.
b) And this is the tricky one for BTC: You can offer reasonable security against default risk. That would probably involve your not being anonymous and some sort of asset security in place in the non-anonymous non-bitcoin market.

Yes you do not have to extend your contract. This is just a perk for the person who wishes to buy more contracts. This would make a huge discount.

As to your B statement. The security is that I have a mass mining op (in the 10's of ghz) running for my own use and can cover any loss of contract I accept. I can and will deny orders that are to rich for my blood.

[demonofelru]

This sounds eerily of an HYIP.  Not saying you can't make money with HYIP's but it's most definitely risky.

[shakaru]

I also wanted to add that I shortly will be adding two funds to the Global Bitcoin Stock Exchange with profits based on my contributions from my portfolio. This would allow me for both automated payout and option trading in my network.

[shakaru]

This sounds eerily of an HYIP.  Not saying you can't make money with HYIP's but it's most definitely risky.

Only I dont accept contract orders for amounts I dont have in existing btc asset. Thus if I fail, I have an insurance account.

[martok]

As to your B statement. The security is that I have a mass mining op (in the 10's of ghz) running for my own use and can cover any loss of contract I accept. I can and will deny orders that are to rich for my blood.

Excellent, and I think a Bitcoin credit market would be a very useful thing indeed. So how does an investor lien the mining hardware in the event of default? That is to say, if I want to give you 100 BTC as an investment (amount can be anything) and you just never visited the forum again, what can I do as an investor?

I guess this question belongs on the trading forum but a traditional company will have a legal records address where I can (in theory) sue you if you fail to pay.

[shakaru]

That its why I am going to eventually move this to GLBSE with a share contract system. That way by using a 3rd party, I can ease everyone's concerns.  All it takes is one. One the term is up and he post that everything went as hoped, then faith will be the backing. You invents in various mutual funds designed by people to perform better than others, so let me do that with btc as the platform.

[Oldminer]

What do you know about the future market that we dont then?

[martok]

That its why I am going to eventually move this to GLBSE with a share contract system. That way by using a 3rd party, I can ease everyone's concerns.  All it takes is one. One the term is up and he post that everything went as hoped, then faith will be the backing. You invents in various mutual funds designed by people to perform better than others, so let me do that with btc as the platform.

Does GLBSE take default risk if an issuer fails to pay out on a bond contract? If so, this indeed would be an option. They must charge a hefty premium for that service though. Oy must they ever.

[qed]

This is a great idea!

But your data are inconsistent:

* 220% at 21 days => in 42 days 484%
* 300% at 60 days

[jondecker76]

Something seems fishy here...

shakaru claims to have "a mass mining op (in the 10's of ghz)", yet in his signature he's asking for donations to build his mining rig.

I read over all of his posts here (and I encourage anyone considering this investment to do the same), and most of the posts were from within the last week asking questions you would expect from someone trying to set up a miner for the first time (what cards to use, what kind of monetary return to expect, why something isn't working etc..)

I'm not saying he doesn't have good honest intentions, but something isn't adding up and I hope nobody gets burnt

[jasonk]

Something seems fishy here...

shakaru claims to have "a mass mining op (in the 10's of ghz)", yet in his signature he's asking for donations to build his mining rig.

I read over all of his posts here (and I encourage anyone considering this investment to do the same), and most of the posts were from within the last week asking questions you would expect from someone trying to set up a miner for the first time (what cards to use, what kind of monetary return to expect, why something isn't working etc..)

I'm not saying he doesn't have good honest intentions, but something isn't adding up and I hope nobody gets burnt

Couldn't agree more.  Seems extremely shady.  Also what exactly do you mean by "a mass mining op."  Sounds like some horse shit to me. 

[Marcus]

... my new program to make  300% return on your btc investment. ...  220% at 21 days, and 300% at 60 days

Something seems fishy here ...I read over all of his posts here ... and most of the posts were from within the last week asking questions you would expect from someone trying to set up a miner for the first time ...

I agree with JonDecker's analysis, and I say thank you to him for posting.

Shakaru has just shot himself in the foot, in public, on this forum.
Nobody with any experience in business or investing would believe returns like those claimed above.
Possibly has a good idea, but clearly is aiming his marketing at gullible rubes, and that's a bad idea where others can see him doing it, like here.

[Sukrim]

Put up your offers on https://bitoption.org/ - there you can NOT wiggle yourself out (PGP nice and fair, but as long as I don't have a lot of RL data I can't sue you anyways).

[Marcus]

Put up your offers on https://bitoption.org/ - there you can NOT wiggle yourself out

Superb idea.
Thank you, Sukrim, for posting that link to BitOption.org.

[shakaru]

That its why I am going to eventually move this to GLBSE with a share contract system. That way by using a 3rd party, I can ease everyone's concerns.  All it takes is one. One the term is up and he post that everything went as hoped, then faith will be the backing. You invents in various mutual funds designed by people to perform better than others, so let me do that with btc as the platform.

Does GLBSE take default risk if an issuer fails to pay out on a bond contract? If so, this indeed would be an option. They must charge a hefty premium for that service though. Oy must they ever.

GLBSE has you deposit btc into an account that all dividends are paid out of. Basically I issue the contract with GLBSE, and then at the end of the contract I issue a one time dividend as payment. This should also allow for option trading with GLBSE.

[shakaru]

This is a great idea!

But your data are inconsistent:

* 220% at 21 days => in 42 days 484%
* 300% at 60 days

Im well aware. I rather people buy the 21 day contracts, that the 60 day. I have more risk with the 60 day with the market, but if you do not want to buy multiple 21 days contracts, you can just buy a 60.