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Author Topic: Earn 12% on our Bitcoin Escrow Contract Opportunity - AMENDED  (Read 1309 times)
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QuintoSA
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September 03, 2016, 11:23:50 PM
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To Whom It May Concern:

Quinto, S.A. would like to introduce you to an exciting low-risk venture with QuintoBTC™ Lottery, which is scheduled to launch in early October 2016.  In our effort to provide a substantial Bitcoin jackpot, we are offering an exciting opportunity for Bitcoin holders to provide additional backing for a more lucrative jackpot.

Instead of letting your Bitcoin sit stagnant in your wallet, why not earn Bitcoin while taking part in our exciting Lottery at very little risk to you?  QuintoBTC™ is a pari-mutuel lottery with various prize levels and a substantial jackpot. Our goal is to offer an enticing guaranteed jackpot to our customers while offering you the opportunity to augment your Bitcoin balance.

In order to offer this guaranteed jackpot, we are seeking a ฿250.00 escrow investment in exchange for an agreed upon fee.  The escrow will be reimbursed incrementally in stages to reduce the risk to the investor.  Complete contract documentation and fee schedule will be provided upon request.  The maximum potential risk to your total escrow investment is 6.41% (each stage having an individual maximum risk of 0.641%).

We are opening this opportunity up for bids.  You can post your bid in this thread or send it privately and we will update current bids.  Bids must be stated in BTC (proof of available funds are required in PM).  The bidding will end on September 21, 2016 and the lowest bid will be chosen and proceed to the contract stage.  Bids must be reduced in ฿0.10 increments, and any bids higher than ฿30.00 will be rejected.  If you have the winning bid, you must consummate the contract and have money transferred into the escrow within 24 hours.  Please feel free to contact us through PM.

Sincerely,

Quinto S.A.

(NOTE: QuintoBTC™ Lottery is under new management)
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QuintoSA
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September 08, 2016, 03:34:29 AM
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AMENDMENT
 
It has come to our attention, that a ฿250.00 escrow investment may be too costly for any single individual. We have therefore decided to open the offer to multiple parties. This will also further reduce the risk to any one person.
 
Rather than initiate a bidding process, we are assigning a 12% fee in exchange for any escrow investment of ฿2.50 and above (in increments of ฿0.50).
 
Therefore, we are amending our Original (Opening) Post as follows (Noted with green italics):
 
To Whom It May Concern:
 
Quinto, S.A. would like to introduce you to an exciting low-risk venture with QuintoBTC™ Lottery, which is scheduled to launch in early October 2016.  In our effort to provide a substantial Bitcoin jackpot, we are offering an exciting opportunity for Bitcoin holders to provide additional backing for a more lucrative jackpot.
 
Instead of letting your Bitcoin sit stagnant in your wallet, why not earn Bitcoin while taking part in our exciting Lottery at very little risk to you?  QuintoBTC™ is a pari-mutuel lottery with various prize levels and a substantial jackpot. Our goal is to offer an enticing guaranteed jackpot to our customers while offering you the opportunity to augment your Bitcoin balance.
 
In order to offer this guaranteed jackpot, we are assigning a 12% fee in exchange for any escrow investment of ฿2.50 and above (in increments of ฿0.50). The escrow will be reimbursed incrementally in stages to reduce the risk to the investors.  Complete contract documentation and fee schedule will be provided upon request.  The maximum potential risk to your total escrow investment is 6.41% (each stage having an individual maximum risk of 0.641%).
 
We are opening this opportunity for all interested parties. You can either post the amount you're willing to place into escrow in this thread, or let us know privately via PM and we will post your amount in this thread for transparency (your name and/or forum ID will remain anonymous). Our goal is to have the entire ฿250.00 amount raised by September 21, 2016, but will increase the jackpot by any escrow amount accumulated by that time.

Sincerely,

Quinto S.A.

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September 10, 2016, 05:13:15 PM
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Quote
Complete contract documentation and fee schedule will be provided upon request.  The maximum potential risk to your total escrow investment is 6.41% (each stage having an individual maximum risk of 0.641%).

How do I go about getting your documentation as stated?  Seems interesting but would like to know more.

 
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September 10, 2016, 07:50:39 PM
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Complete contract documentation and fee schedule will be provided upon request.  The maximum potential risk to your total escrow investment is 6.41% (each stage having an individual maximum risk of 0.641%).

How do I go about getting your documentation as stated?  Seems interesting but would like to know more.

Hello, we have sent you a message, please read.

Thanks
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September 14, 2016, 03:59:38 PM
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Thank you for the documentation, I may be willing to help out here - at least partially. 

Question to the forum:  How would one go about setting up a third-party escrow?  I want to understand how that works.
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September 19, 2016, 06:02:43 AM
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Question to the forum:  Is anyone stupid enough to donate their money to this guy?
jplandfcl
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September 20, 2016, 03:17:04 AM
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Question to the forum:  Is anyone stupid enough to donate their money to this guy?

As one who has actually asked for the documentation and read the contract, I can say that this is not a donation. It is a business proposal for a service with a fee. While there is some risk, all business has some risk.

Have you asked for the documentation?  Maybe you should start there.
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September 23, 2016, 08:16:33 AM
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Question to the forum:  Is anyone stupid enough to donate their money to this guy?

You'd be amazed.. there is always someone who will fall for this sort of thing - usually the young & inexperienced or the old & technologically unsavvy.

QuintoSA
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September 23, 2016, 10:14:46 PM
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You'd be amazed.. there is always someone who will fall for this sort of thing - usually the young & inexperienced or the old & technologically unsavvy.

I am amazed.  The kind of things people will say without knowledge of the specific detail of a deal. it would be nice if comments were based in fact. 

So, for the propose of clarification and edification to those of you who are reading this string, Quinto S.A. had two choices that would enable us to have a much larger jackpot than any of the lottery sites in the early stages of our lottery.  As you will see in our options below, this is business arrangement based on industry standards in the prize insurance risk management industry (not preying on the "young and inexperienced" or the "old and technologically unsavvy").  Our original post in this string was made in order to offer the same type of business arrangement to the Bitcoin community.

1) Using a Prize Insurance company that is willing to back our jackpot.  There are several out there and they were willing to provide prize insurance and were all backed by reputable companies.  However, the only issue with them is that they will not insure based in Bitcoin, but fiat only, which would make the jackpot amount fluctuate.

2) Our second choice came to us in one of our discussions with one of the Prize Insurance company.  At their suggestion, Quinto, S.A. decided to offer the same contract terms that are used in the Prize Insurance industry to the Bitcoin community.  So we adapted the industry standard contract for a Bitcoin based prize insurance in the form of a diminishing escrow balance for a 12% fee.  The fee amount is based on what the industry standard fee is for prize insurance.

One thing to emphasize here is that we are not asking for an investment into Quinto, S.A. or for a loan.  It is a business arrangement, contractually governed and designed to be a fee in exchange for an escrowed amount of Bitcoin.  If you are a Bitcoin investor, holding your Bitcoin in hopes of an arbitrage gain, then why not earn an extra 12% fee on the Bitcoin that you are already holding.  It is also fair to note that while there is a risk that the jackpot hits early on, that risk is minimal and reduced as more players play the lottery.  I cannot give all the details on this post, but I would welcome private messages for further discussion.

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