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tinus42
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August 16, 2013, 12:49:42 PM |
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Promise of high yields + promise of no risk = (likely) PONZIInvestor beware... 
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You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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vlees
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August 16, 2013, 01:14:45 PM |
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Investor beware... Yeah, it is obvious that this might be a scam/ponzi. I already cashed out 2/3 of my balance on the site so in case the site would now *suddenly* close down, I still made 100% profit. So it's either 100% profit or even more. Also most Ponzi's don't double your BTC in such a short time. It would collapse too soon. |
BEEP BEP
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01BTC10
VIP
Hero Member
 Offline
Activity: 756
Merit: 503
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August 16, 2013, 01:25:17 PM |
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Usually ponzi scheme have shady revenue stream. In this case the source of revenue is clear and easy to verify (unless the bet are fake). Actually this is high/risk high/reward because the risk of ruin is insane. 1 winning bet can wipe the entire site bankroll and even more. Both investors and players are gambling. Just-Dice seem like a super safe investment compared to this.
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shitaifan2013
Legendary
Offline
Activity: 879
Merit: 1000
monero
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August 16, 2013, 01:52:03 PM |
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i like the idea of the site, but "1/25 confirmations, please wait for all the confirmation in order to invest." 25 confirmations  a bit too much imo. |
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Hfleer
Sr. Member
Offline
Activity: 448
Merit: 250
Changing avatars is currently not possible.
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August 16, 2013, 02:35:27 PM
Last edit: August 16, 2013, 03:11:36 PM by Hfleer |
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i like the idea of the site, but "1/25 confirmations, please wait for all the confirmation in order to invest." 25 confirmations a bit too much imo. What's with the 25 confirmation, and everyone doubling or more their money? Did this site change ownership recently? It's not out of the question for account to be sold with webpage. Kind of reminds me of that mining united now, but let's see what happens. Maybe just trying to strongly discourage divesting. |
██████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████ |
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CasinoBit (OP)
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August 16, 2013, 03:24:05 PM |
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i like the idea of the site, but "1/25 confirmations, please wait for all the confirmation in order to invest." 25 confirmations a bit too much imo. What's with the 25 confirmation, and everyone doubling or more their money? Did this site change ownership recently? It's not out of the question for account to be sold with webpage. Kind of reminds me of that mining united now, but let's see what happens. Maybe just trying to strongly discourage divesting. That wouldn't make sense though since you can divest and not wait for 25 confirmations. Investor beware... Yeah, it is obvious that this might be a scam/ponzi. I already cashed out 2/3 of my balance on the site so in case the site would now *suddenly* close down, I still made 100% profit. So it's either 100% profit or even more. Also most Ponzi's don't double your BTC in such a short time. It would collapse too soon. Promise of high yields + promise of no risk = (likely) PONZIInvestor beware... There is NO promise of high return, the lucky ones that cashed in early have got what they deserve now it's up to the speculators to catch up, chances are we'll end up with similar returns to just-dice. |
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shitaifan2013
Legendary
Offline
Activity: 879
Merit: 1000
monero
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August 16, 2013, 03:31:34 PM |
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@casinobit: maybe i overlooked it in this thread.
but could you please drop a line about this 25 confirmations before invest? just curious why 25?
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geofflosophy
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August 16, 2013, 04:12:57 PM |
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FWIW, I also doubled my 3BTC in less than 24 hours, then withdrew my balance and invested another 3, so I'm invested with house money at the moment.
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Hfleer
Sr. Member
Offline
Activity: 448
Merit: 250
Changing avatars is currently not possible.
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August 16, 2013, 10:15:01 PM
Last edit: August 16, 2013, 10:28:30 PM by Hfleer |
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i like the idea of the site, but "1/25 confirmations, please wait for all the confirmation in order to invest." 25 confirmations a bit too much imo. What's with the 25 confirmation, and everyone doubling or more their money? Did this site change ownership recently? It's not out of the question for account to be sold with webpage. Kind of reminds me of that mining united now, but let's see what happens. Maybe just trying to strongly discourage divesting. That wouldn't make sense though since you can divest and not wait for 25 confirmations. Obviously. Consider that if they divest it's commonly to withdraw. |
██████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████ |
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byronbb
Legendary
Offline
Activity: 1414
Merit: 1000
HODL OR DIE
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August 17, 2013, 01:57:16 AM |
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1. I cannot guarantee that every investment will make profit within a given time frame, it will however make a profit in the long run and I can guarantee it because of the house edge.
So if I invest 1BTC there is zero chance I could lose it???!?!?! For a casino operator you have a poor understanding of chance. |
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xkeyscore89
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August 17, 2013, 03:56:34 AM |
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Originally invested 0.42BTC, withdrew 1.1BTC in about 36 hours. Currently, re-investing 0.49BTC. We'll see how it goes, wish me luck!  |
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mwarrior
Member
Offline
Activity: 329
Merit: 10
https://eloncity.io/
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August 17, 2013, 04:06:16 AM |
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Started off with 2 and now at 10. Not too shabby! Kisses
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geofflosophy
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August 17, 2013, 11:40:45 AM |
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A user in CoinChat, lordsonkit, is claiming that the investments aren't working the way we would expect, and that rather than show profits as a percentage growth based on gambling, the profits are being shown as a percentage growth of the roll based on new investors. Casinobit, can you check the algorithm and confirm or deny this? When I've looked at the order history it seems like there is plenty of BTC being lost (especially by that 2 BTC whale), but it's hard to read so I'm not super confident at what I'm looking at.
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001sonkit
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August 17, 2013, 11:44:03 AM |
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All i can say to CasioBit owner is you better check your code on how the investment thing works, a pretty big flaw
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GEMINI ACCOUNT REVIEW - Source of Funds Request
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CasinoBit (OP)
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August 17, 2013, 11:48:16 AM |
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A user in CoinChat, lordsonkit, is claiming that the investments aren't working the way we would expect, and that rather than show profits as a percentage growth based on gambling, the profits are being shown as a percentage growth of the roll based on new investors. Casinobit, can you check the algorithm and confirm or deny this? When I've looked at the order history it seems like there is plenty of BTC being lost (especially by that 2 BTC whale), but it's hard to read so I'm not super confident at what I'm looking at.
No, the profit is being calculated as (Total Bets - Winnings)*Respective Percentage Bought, if you buy 90% it means that you begin receiving 90% from the new bankroll, you do not receive 90% in the past. |
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filharvey
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August 17, 2013, 11:53:51 AM |
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Was a good night. Left it with 5 in yesterday after noon. Get up and see it at 13.88BTC. Just withdrew another 8.88BTC, leaving the original 5 to earn more.
But with investments now at 500BTC, I have dropped from 5-10% to 1% in the last 24 hours.
Phil
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CasinoBit (OP)
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August 17, 2013, 12:03:37 PM |
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Was a good night. Left it with 5 in yesterday after noon. Get up and see it at 13.88BTC. Just withdrew another 8.88BTC, leaving the original 5 to earn more.
But with investments now at 500BTC, I have dropped from 5-10% to 1% in the last 24 hours.
Phil
So you have what? Tripled your BTC now in less than a week? Going for the 400%? |
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Zaih
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August 17, 2013, 12:05:26 PM |
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This is disgusting.
People may as well start DOX'ing early. There's going to be tears very soon.
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001sonkit
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August 17, 2013, 12:06:00 PM
Last edit: August 17, 2013, 12:17:59 PM by 001sonkit |
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Was a good night. Left it with 5 in yesterday after noon. Get up and see it at 13.88BTC. Just withdrew another 8.88BTC, leaving the original 5 to earn more.
But with investments now at 500BTC, I have dropped from 5-10% to 1% in the last 24 hours.
Phil
So you have what? Tripled your BTC now in less than a week? Going for the 400%? Great, hope you wont go for 0% after i have identified and publicized the issue. I will publish the full issue in 2 6 (more time for you) hours from now and hope there is enough time for CasioBit to find out the issue, debug it and tell what you have done wrong. Other wise... you are gonna have a bad time For a cheap price of.... you can... |
GEMINI ACCOUNT REVIEW - Source of Funds Request
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CasinoBit (OP)
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August 17, 2013, 12:45:42 PM |
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Was a good night. Left it with 5 in yesterday after noon. Get up and see it at 13.88BTC. Just withdrew another 8.88BTC, leaving the original 5 to earn more.
But with investments now at 500BTC, I have dropped from 5-10% to 1% in the last 24 hours.
Phil
So you have what? Tripled your BTC now in less than a week? Going for the 400%? Great, hope you wont go for 0% after i have identified and publicized the issue. I will publish the full issue in 2 6 (more time for you) hours from now and hope there is enough time for CasioBit to find out the issue, debug it and tell what you have done wrong. Other wise... you are gonna have a bad time For a cheap price of.... you can... I have told you already that I acknowledge the issue of the rounding down beyond 2 decimal numbers, it is done on purpose, I could change it within a couple of seconds, it isn't a bug nor some critical error that I would hide from my customers. |
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