freebitco.in Annual investment

[keyscore44]

~snip~
.. And if they are giving only 4% per annum roi per year to us i also think its truly better or shall i call best if we invest on banks while they are giving 8% per 2 years payout with plus additional income from dividends, Just inquire to BDO i believe theirs a bank near you to clarify that.

It seems to me that Bitcointalk is not the best place to advertise bank services
Anyway, income from deposited Bitcoins on Freebitco.in is added to the balance everyday, so you don't have to keep your money all year. You can withdraw funds in any moment with earned BTC.

[croato]

Freebitco.in is only faucet i still visit and in my opinion, it is best faucet ever. This daily interest they are paying is not big thing for it self, but it is great to see new options on site. I trust them with my pocket money so i will start to hoard dust there and earn that interest LOL.

[SONG GEET]

I just wonder, no one gives out free money just like that ~ Is this to fund their dice game bank roll? Or am I missing something here? They must be using people's money in one way or another. That's what I am curious about.

Yes they are using those deposited bitcoin as bankroll for their dice game which have 5% house edge which pretty much make sure they will be in profit. And recently they have also announced , they will be opening mining farms and to build it they will be using those deposited bitcoins. I am actually concerned about how secure their wallet is.

[pooya87]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment


now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

[klf]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment


now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

I don't say it is fully ponzi scheme, but in any case site owner faces significant losses from these bitcoin mining businesses then anything can happen. So your coins or investments are at high risk on these kinds of sites. Until now they are paying on time for all their faucet users, but at the same time, they never explained how they are picking up the lottery winners even those many times people request on this forum. It shows that they are not entirely honest in doing business, so your investments are always at high risk.

[keyscore44]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment
https://i.imgur.com/Cgugb23.jpg

now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

It is not Ponzi scheme. @wetsuit show in public their Bitcoin mining address, their power and pools where they are mining.
You can read about that in Freebitco.in main thread:
https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

[Humanxlemming]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment
https://i.imgur.com/Cgugb23.jpg

now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

It is not Ponzi scheme. @wetsuit show in public their Bitcoin mining address, their power and pools where they are mining.
You can read about that in Freebitco.in main thread:
https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

Yeah it is not a Ponzi scheme but all your investment is at a high risk because freebitco.in can turn back a scam if it receive many deposit, and i think why freebitco.in add a new way like mining is to attract more investor, Anyways Goodluck.....

[bering]

this is one of the oldest faucet site which is still exist untill now and i think a lot of people here had been visited this site and claiming the faucet and aiming the new feature is to get investor at there but with annual profit i'm pretty sure people will not too interested because usually for investment options people more likely to choose daily or monthly profit

[ultrloa]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment
https://i.imgur.com/Cgugb23.jpg

now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

It is not Ponzi scheme. @wetsuit show in public their Bitcoin mining address, their power and pools where they are mining.
You can read about that in Freebitco.in main thread:
https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

Yeah it is not a Ponzi scheme but all your investment is at a high risk because freebitco.in can turn back a scam if it receive many deposit, and i think why freebitco.in add a new way like mining is to attract more investor, Anyways Goodluck.....

Maybe the mining farm that they say is the sign that freebitco.in will scam people soon and how could a site offer such  long time profit while they cannot give any strong facts that they can sustain their site for such a long time, 1 year waiting is to much for unsure situation and surely if we will used our bitcoin properly we will gonna earn double from it in 1 year time span. But for now i will just stay away from them since i don't see any legalities from them.

[croato]

this is one of the oldest faucet site which is still exist untill now and i think a lot of people here had been visited this site and claiming the faucet and aiming the new feature is to get investor at there but with annual profit i'm pretty sure people will not too interested because usually for investment options people more likely to choose daily or monthly profit

IDK what you are talking about.  Annual interest is at 4.08%, but 0.0109589% is calculated every day and you get that in your account first day you have more than 30K sats in your main account.

[mrcash02]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment
https://i.imgur.com/Cgugb23.jpg

now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

It is not Ponzi scheme. @wetsuit show in public their Bitcoin mining address, their power and pools where they are mining.
You can read about that in Freebitco.in main thread:
https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

Yeah it is not a Ponzi scheme but all your investment is at a high risk because freebitco.in can turn back a scam if it receive many deposit, and i think why freebitco.in add a new way like mining is to attract more investor, Anyways Goodluck.....

Maybe the mining farm that they say is the sign that freebitco.in will scam people soon and how could a site offer such  long time profit while they cannot give any strong facts that they can sustain their site for such a long time, 1 year waiting is to much for unsure situation and surely if we will used our bitcoin properly we will gonna earn double from it in 1 year time span. But for now i will just stay away from them since i don't see any legalities from them.

Yes, they could show us their mining farm pictures. But I must say their site is working fine since some years ago and never scammed anyone. Also you don't need to let your money there for one year, the interest is paid daily and you can withdraw it anytime.

You could try to double your BTCs in one year, but I think it's too risk, as all legit investments don't offer much interest percentage. With gambling the risk is high also.

[favdesu]

So I recently received an email from freebitco.in faucet that are now offering an annual investment for their user.
It promises a 4.08% of annual interest with a minimum of 30k satoshi to be able to participate.

What do you guys think about this?

This is the actual email from them:

Dear FreeBitco.in user,

We are excited to announce a launch of a new feature - a bitcoin savings account!

You can now earn 4.08% annual interest (paid and compounded daily) on any balance that you hold in your FreeBitco.in account, without doing anything!

All you need to do is mantain a balance of at least 30,000 satoshi (0.0003 BTC) in your FreeBitco.in account and we shall pay you compounded interest on your full balance everyday. There is no lock-in period to earn interest (you start earning interest right from the first day!) and your balance can be withdrawn any time you wish. Treat your FreeBitco.in account like an instant-access savings account to hold your excess bitcoins and earn passive interest on your account balance everyday.

It's very hard to think that a faucet site will surely retain its fame for the long time and 1 year i quitely to far to be happen and surely we cannot assure that we can get some profits if dividends happen. And if they are giving only 4% per annum roi per year to us i also think its truly better or shall i call best if we invest on banks while they are giving 8% per 2 years payout with plus additional income from dividends, Just inquire to BDO i believe theirs a bank near you to clarify that.

it's paying daily and it's compounding. your math does not really apply here. you're earning much more than linear 4% per year

[Valiance]

Big time doubts, too high rate and no explanation what will they do with the money.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment
https://i.imgur.com/Cgugb23.jpg

now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

I don't think it will be, it's actually not an unusual rate at all.  For example, bankrolling good Bitcoin casinos can sometimes earn upwards of 30% per year.  The difference is that they're guaranteeing this rate and that's the only thing which anyone should find strange.

[xuan87]

To be honest I am quite doubt, the sites itself is quite popular site and got a lot of player, most of the bitcointalk forum member even played in that sites, but the site review is quite bad and to risk my money for 4% a year, it is a bit too low and too much risk

[ethereumhunter]

So I recently received an email from freebitco.in faucet that are now offering an annual investment for their user.
It promises a 4.08% of annual interest with a minimum of 30k satoshi to be able to participate.

What do you guys think about this?

This is the actual email from them:

Dear FreeBitco.in user,

We are excited to announce a launch of a new feature - a bitcoin savings account!

You can now earn 4.08% annual interest (paid and compounded daily) on any balance that you hold in your FreeBitco.in account, without doing anything!

All you need to do is mantain a balance of at least 30,000 satoshi (0.0003 BTC) in your FreeBitco.in account and we shall pay you compounded interest on your full balance everyday. There is no lock-in period to earn interest (you start earning interest right from the first day!) and your balance can be withdrawn any time you wish. Treat your FreeBitco.in account like an instant-access savings account to hold your excess bitcoins and earn passive interest on your account balance everyday.

i've got email from them too and i think its good for the member but the rewards is too low at least we can still make profit from investing with them. as long as our fund is safe then i think its worth to try as we know freebitcoin is the old site that still legit until now and they are really makes their member satisfy with their service especially with the faucet.

[BitHodler]

To be honest I am quite doubt, the sites itself is quite popular site and got a lot of player, most of the bitcointalk forum member even played in that sites, but the site review is quite bad and to risk my money for 4% a year, it is a bit too low and too much risk

It depends on where these 'bad' reviews are pointed at since freebitco.in has a wider field of options that they offer people. Mind sharing a link to the reviews you were reading?

I have been reading through their explanation of why they need the funds, and I must say that it's quite doubtful. They use people's funds, but still guarantee that they can withdraw their coins at any time.

That's what I consider to be a weird thing. It's not for nothing that they ask for people to fund their. If the funds are in use, it means that not everyone will be able to cash out. Especially not when it comes to the largest funders.

[jtipt]

What do you guys think about this?

Yeah I received that too, but its only useful for people who keep large amounts of BTC on the site for gambling only then it's somewhat profitable. For 30k satoshi its really worthless, 4.08% would be 1.2k sats in ONE year if you just use the faucet there everyday for 1 year you would have 50 times that lol.

[Kprawn]

Well Wetsuit did explain that they are channelling money from their Bitcoin mining project to cover this interest. He is using your money to buy

more miners. I think it is a brilliant idea to draw more people to his site. I am going to try it out and use the interest to gamble on the site. No

need to use the faucet, if you getting daily income from the interest on your money.   

[olubams]

Although I also have doubts concerning this new service that is being offered by Freebitco.in but in all sincerity, if there is any faucet site that have stand the test of time, freebitco.in is one but I really try to understand the rationale behind it which is the fact that they have low patronage and its because of the satoshi you get when you roll every hour due to the increase in the price of bitcoin so in other to encourage people then you just invest...

[mindrust]

%4 is nothing near big and it certainly isn't worth taking the risk. No matter how reputable the freebitco.in owner is, accidents do happen from time to time. To remind you; Mt.Gox used to be a reputable exchange too, until they ain't.

 I would rather have my bitcoins in my own local wallet.