has anyone tried freebitco.in investment?

[KourtneyK]

I actually tried their investment before when I was playing in this site but I accidentally changed the settings and withdrew everything including the interest I got from there. So I think the site is all good and also their new feature with the investment thing.

[Myfe]

for example I didn't find any Contacts/support/ticket section on the site. what do you do if you have an issue?

Hi Pursuer, great question.

I'm the FreeBitco.in Community Manager. You can direct all questions or issues to me, PM me any time.

We also have a community thread in the Micro Earnings and Gambling boards. I monitor both several times a week.

Thanks for starting this thread!

[Myfe]

I also loved how they managed the last fork and how they disbursed the BCC pretty fast in for of BTC though, as well as how good they are at giving information on any subsequent fork and their stand.

Great question!

For Bitcoin Cash we honored the airdrop for all accounts. Our wallet owners were able to either

(1) Convert their Bitcoin Cash for Bitcoin on our site (and we maintained the airdrop exchange rate, even after the price of BCC fell following August 1st), or

(2) Claim and send their Bitcoin Cash to a wallet that was supporting the new currency.

We decided not to maintain the currency in our wallet so after 30-45 days everyone had to either convert or move their new coins.

I'll post a note explaining how we'll handle the next two forks shortly.

[Myfe]

Hard Fork Policy Announcement

We've posted comments about how we plan to handle the upcoming Bitcoin Gold and Segwit 2x hard forks. You can find a hot link with this information on nearly every menu of the freebitco.in site.

Bitcoin has 2 hard forks planned in the near future - "Bitcoin Gold" and "Bitcoin Segwit 2x". As we have done with the "Bitcoin Cash" hard fork in the past, we shall support withdrawals of all hard fork coins as long as they are viable - ie. have wallet support, a working blockchain and straightforward redemption policies.

The "Bitcoin Gold" hard fork currently does not seem to be a viable fork - since they have not given any information about the fork on their website (btcgpu.org) and have no supported wallets yet. If there are no wallets that support it, we shall not be able to make "Bitcoin Gold" available for withdrawals. If however, there is wallet support for "Bitcoin Gold" before the hard fork date and the block number for the fork is announced in advance, we shall make it available for withdrawal.

We shall be supporting the "Bitcoin Segwit 2x" fork since it already has a working wallet and has announced the block number when the hard fork will happen. If a majority of miners switch to "Bitcoin Segwit 2x" and it has the chain with the most Proof-of-Work, we shall make it our primary coin and "Bitcoin Core" coins will be made available for withdrawal to your own wallets, otherwise "Bitcoin Core" shall remain our primary coin and "Bitcoin Segwit 2x" coins will be made available for withdrawal to your own wallets. In either case, users will receive coins in both the majority and minority chain equivalent to the balance that they had on the website prior to the hard fork.

We shall be pausing deposits and withdrawals temporarily before the "Bitcoin Segwit 2x" hard fork until a clear winner has emerged. Everything else on the website will function as usual. The fork is scheduled to happen at around the middle of November. We shall give advance notice of when deposits and withdrawals will be paused before the fork date.

Any questions? Give a shout here or PM me!

[Barcode_]

I have never tried out freebitco.in investment option yet, but I do know that freebitco.in is a trusted site, after reading so many members review about their investment with freebitco.in, maybe I should consider putting some of my bitcoins at the site too since it is way better than keeping in my wallet with 0% interest.

[pawanjain]

Freebitco.in is a good site which has been paying it's customers since the beginning. It was mainly used as a faucet in the beginning but since then there had been many changes to the website like addition of Hi-Lo game, browser mining, referral, annual interest etc.. I think that 4.08% is very less for to consider it as an investment when there are banks which pay more than this. Why would one take the risk to keep the BTC there when he can keep the fiat in bank which is safer and that too for a better return. So it doesn't make any sense to invest in freebitco.in
We could simply buy some coins and hold it for a year to get much more profit than this.

[jackg]

Hard Fork Policy Announcement

We've posted comments about how we plan to handle the upcoming Bitcoin Gold and Segwit 2x hard forks. You can find a hot link with this information on nearly every menu of the freebitco.in site.

Bitcoin has 2 hard forks planned in the near future - "Bitcoin Gold" and "Bitcoin Segwit 2x". As we have done with the "Bitcoin Cash" hard fork in the past, we shall support withdrawals of all hard fork coins as long as they are viable - ie. have wallet support, a working blockchain and straightforward redemption policies.

The "Bitcoin Gold" hard fork currently does not seem to be a viable fork - since they have not given any information about the fork on their website (btcgpu.org) and have no supported wallets yet. If there are no wallets that support it, we shall not be able to make "Bitcoin Gold" available for withdrawals. If however, there is wallet support for "Bitcoin Gold" before the hard fork date and the block number for the fork is announced in advance, we shall make it available for withdrawal.

We shall be supporting the "Bitcoin Segwit 2x" fork since it already has a working wallet and has announced the block number when the hard fork will happen. If a majority of miners switch to "Bitcoin Segwit 2x" and it has the chain with the most Proof-of-Work, we shall make it our primary coin and "Bitcoin Core" coins will be made available for withdrawal to your own wallets, otherwise "Bitcoin Core" shall remain our primary coin and "Bitcoin Segwit 2x" coins will be made available for withdrawal to your own wallets. In either case, users will receive coins in both the majority and minority chain equivalent to the balance that they had on the website prior to the hard fork.

We shall be pausing deposits and withdrawals temporarily before the "Bitcoin Segwit 2x" hard fork until a clear winner has emerged. Everything else on the website will function as usual. The fork is scheduled to happen at around the middle of November. We shall give advance notice of when deposits and withdrawals will be paused before the fork date.

Any questions? Give a shout here or PM me!

Wyfe, can you say what you think the exchange rate will be - based on markets open at that time? If the value of Bitcoin Gold for example goes over that given by the site, would the site be able to offer a greater amount to redeem or will it be fixed at a higher rate than the exchanges on the day of the fork as they were from the BCC fork?

[TheQuin]

I have never tried out freebitco.in investment option yet, but I do know that freebitco.in is a trusted site, after reading so many members review about their investment with freebitco.in, maybe I should consider putting some of my bitcoins at the site too since it is way better than keeping in my wallet with 0% interest.

It's not really what I would call an investment option, I think of it more like a current account (or checking account for Americans) that pays interest. The 4.08% per anum is good but you could, for example, get more lending it out at Bitfinex or other exchanges. Where the advantage comes is the low transaction fees. Where the exchanges charge a fixed transaction fee (0.005 at Bitfinex now) Freebitco.in are using dynamic fees. Using the slow withdrawal option if you wait for the mempool to empty it goes as low as 0.00000400 This has saved me quite a large amount since I started using it for day to day transaction that I am in no hurry for. So it's a good option to earn interest on your general usage coin rather than a long-term investment.

[LTU_btc]

4.08% yearly interest is low, but it's guaranteed and we don't have to do anything to get it, just hold some btc on freebitco.in. I have some btc one freebitco.in and I'm happy to see even little interest received daily.
Well, I can say that freebitco.in developed in something much more than just faucet. They even don't need to use 3rd part advertisement networks to monetize website, because multiplier players and people who buying lottery tickets covers expenses. And they always adding new functions to attract even more users - reward points, lottery, daily interest, web mining, and I'm sure that they are preparing even more new things.
I'm not surprised that Freebitco.in is most popular bitcoin website by Alexa rank and they have over 8.5 million registered users!

[Pursuer]

I think they give out way too little for investors, given that you'd have to invest a significant amount to even think of making a profit.
4.08% per year is just not enough if you consider the risk of leaving your coins with them for over a year.

I prefer investing in websites that share profit based on an actual profit or loss percentage, preferably for less than 1 year.

On CryptoGames for example, you'd make way more profit in less than a year.

Take a look at this thread:
https://bitcointalk.org/index.php?topic=1796062.0 ([Crypto-Games.net] Investment Returns, Updated weekly, Week 35, +27.96% in BTC)

there is a huge difference between these two.
the freebitco.in investment is a guaranteed profit no matter what happens. it is (as they claim) mining reward they share with you and their signed message from the address receiving the mining rewards confirms that also. in this case there is no chance of not getting paid.

in case of investing in a gambling site, there is always a chance that not only you don't get paid but also you lose money. it is not a common thing, specially with crypto-games, I have seen their good performance, but the chance is still there.

Hi Pursuer, great question.

I'm the FreeBitco.in Community Manager. You can direct all questions or issues to me, PM me any time.

We also have a community thread in the Micro Earnings and Gambling boards. I monitor both several times a week.

Thanks for starting this thread!

ok, I'll have that in mind too.

to everyone else. thanks for the additional info, I already knew a couple of them and will check other suggestions too. for now I plan on focusing on getting some referrals in my freebitco.in account and try the investment with a larger amount. I believe it can be a good side/passive income.

[SyGambler]

it's running good so far but IMO it's too much of a risk with a little reward , yes freebitcoin is trusted but shit happens
even if we aren't talking about scam there still a possibility of wallet getting hacked , so does 4% a year really worth the risk ?? this is up to you
there are way many better opportunities around that can yield more than that , they have their own risks too but the reward is for sure bigger than 4% a year

so do your own researches and then see what suits you the most , for me the rate isn't reasonable at all with all the opportunities online

[BitHodler]

4.08% yearly interest is low, but it's guaranteed and we don't have to do anything to get it

4% isn't really all that bad. Instead of looking at certain percentages and think it's low, we have to take in mind that the service in question has to pay it out, and to do that, it has to generate revenue/profit.

Other thing is that this 4% isn't really guaranteed. It's nothing more than a promise to pay you out that percentage over a certain period of time. If everything goes well for the service, then it will do so.

It's passive income, and that's what a lot people here are after. If you can manage to have a couple of passive income streams, you'll be earning a decent bit of money without doing anything ~ that's people's goal here.

[LTU_btc]

4.08% yearly interest is low, but it's guaranteed and we don't have to do anything to get it

Other thing is that this 4% isn't really guaranteed. It's nothing more than a promise to pay you out that percentage over a certain period of time. If everything goes well for the service, then it will do so.

Well, they are paying interest for more than half year now, and so far everything without any issues. Interest paid mainly from freebitco.in mining operations, as long as it profitable, they can pay interest for people who invested in freebitco.in. But, if it will become not profitable, they will just stop paying interest. People will not loose their money,  they just will not get interest anymore, but they will be able to withdraw btc whenever they want.

[Myfe]

WMyfe, can you say what you think the exchange rate will be - based on markets open at that time? If the value of Bitcoin Gold for example goes over that given by the site, would the site be able to offer a greater amount to redeem or will it be fixed at a higher rate than the exchanges on the day of the fork as they were from the BCC fork?

jackg, great question. I can confirm that the start rate will be at whatever the rate is at time of airdrop. E.g., Bitcoin Cash was available for "purchase" before their airdrop, we locked in the airdrop rate and kept it that high as the price of Bitcoin Cash fell...at one point you could have made 20% on the price of Bitcoin Cash simply by converting it to Bitcoin on our site.

If the rate of the airdropped coin rises above the airdrop rate we may try to keep the rate consistent with the market.

Keep in mind that for Bitcoin Gold this depends first and foremost if the Bitcoin Gold chain remains stable, has support. If wallet support appears before the fork for Bitcoin Gold we'll be more apt to honor the airdrop - we can only honor the airdrop if they make a place for us (you all and our team) to exchange or use the Bitcoin Gold coins!

For Segwit 2X we plan to support those coins because the support and wallets already exist in the market.

Did that answer the question?

[jackg]

WMyfe, can you say what you think the exchange rate will be - based on markets open at that time? If the value of Bitcoin Gold for example goes over that given by the site, would the site be able to offer a greater amount to redeem or will it be fixed at a higher rate than the exchanges on the day of the fork as they were from the BCC fork?

jackg, great question. I can confirm that the start rate will be at whatever the rate is at time of airdrop. E.g., Bitcoin Cash was available for "purchase" before their airdrop, we locked in the airdrop rate and kept it that high as the price of Bitcoin Cash fell...at one point you could have made 20% on the price of Bitcoin Cash simply by converting it to Bitcoin on our site.

If the rate of the airdropped coin rises above the airdrop rate we may try to keep the rate consistent with the market.

Keep in mind that for Bitcoin Gold this depends first and foremost if the Bitcoin Gold chain remains stable, has support. If wallet support appears before the fork for Bitcoin Gold we'll be more apt to honor the airdrop - we can only honor the airdrop if they make a place for us (you all and our team) to exchange or use the Bitcoin Gold coins!

For Segwit 2X we plan to support those coins because the support and wallets already exist in the market.

Did that answer the question?

Yes thank you Myfe (apologies for spelling your name wrong initially).

Is there an airdrop rate for the non-segwit 2x coin also (not bitcoin gold as I currently see no support for them from the developers)?
Also, if there is no BCG client before the fork but one emerges a few weeks later, do the tokens still get credited or is that uup to you?

[crazyivan]

4% per year s not that attractive option anyway. Especially if you do not control your private keys. I d go with something where you can profit and still have your keys stored in an offline wallet.

[jackg]

4% per year s not that attractive option anyway. Especially if you do not control your private keys. I d go with something where you can profit and still have your keys stored in an offline wallet.

How can they use those coins though?

They're offering investments to increase their portfolio. Some of the coins will be spent in this process. Otherwise it's free money, not and investment.

[bajing]

I was always skeptical about freebitco.in investment and all the changes they have made, but it seems like they are doing fine after all this time. the site is turned into a proper gambling site instead of just being a faucet.

I tried their investment (4.08% annual profit) by making a small deposit and by following the funds I see their main wallet currently contains 508BTC that is $2.4 million!
https://blockchain.info/address/1CE5T4P6WmFUQvQFwvedgTEc5Z7BSVJLVN

does anyone have any feedback on their services?

for example I didn't find any Contacts/support/ticket section on the site. what do you do if you have an issue?

Honestly, I know they are one of the famous sites but I have a question, why now they open the investment after being able to run the business for so long without the need of funding from investors. instead I say they will be scam or something, just look wierd.

[Fredomago]

4% per year s not that attractive option anyway. Especially if you do not control your private keys. I d go with something where you can profit and still have your keys stored in an offline wallet.

How can they use those coins though?

They're offering investments to increase their portfolio. Some of the coins will be spent in this process. Otherwise it's free money, not and investment.

its up to them on how they will use your money but they have the plan to give investors 4% of its investment after a year and nothing else
so basically its really  a little earnings if you will take the risk its a year for them to use your money while you can do a lot better.

[jackg]

4% per year s not that attractive option anyway. Especially if you do not control your private keys. I d go with something where you can profit and still have your keys stored in an offline wallet.

How can they use those coins though?

They're offering investments to increase their portfolio. Some of the coins will be spent in this process. Otherwise it's free money, not and investment.

its up to them on how they will use your money but they have the plan to give investors 4% of its investment after a year and nothing else
so basically its really  a little earnings if you will take the risk its a year for them to use your money while you can do a lot better.

You know interest is credited daily? Keep the coins there for 7 days and you get 0.07+%. You can withdraw whenever you want.