bitcoin-trader.biz

[pawlo74]

Cheers. I live in UK and I didn't know about that website.

ps. I have just registered on that forum but I am not giving any details yet. I have nothing to hide but do not trust any government even UK. Government and banks stick each other and if UK bank block my account I am losing my job. I do not know how in fee country that is possible at all but it happens every day to many people, seems like UK is not free country yet.
Also I prefer this forum because of freedom of the speech and almost no moderation by admins.

I wouldn't say yet, I would say not anymore!

Yes you right is getting worse in time 

[pawlo74]

this is crazy I was looking up information on how to make money with bitcoin a few weeks ago,
came across Bitcoin Trader in some youtube videos, I was so close to putting some funds there.
I was thinking if its been around for a while then it must be ok,

Consider yourself very lucky.  A friend and myself lost a fair amount of BTC to this sham for precisely the same reason.  We figured if it had been around for over a year perhaps their claims of not being a HYIP had some credence.  Boy, do we feel stupid.

Bitcoin the technology I still believe in whole heartedly, but it's this kinda crap that's keeping 96+% of the rest of the world from truly embracing this thing of beauty.  Leave it to greedy, unscrupulous people to ruin the single most ingenious invention arguably in multiple generations (or at least peoples perception of it).

As for fund recovery, I'll be surprised if we see a single satoshi of our investment at this point as it appears the con behind this appears to be a verteran scam-artist.  I feel bad for both mine and my friends lost satoshi's as well as anybody else that fell prey to this scam but honestly I'm more concerned what impact this will have on the 'general publics perception of bitcoin overall. 

I am coming to the conclusion that most "Put you Bitcoin to work" businesses on the internet are scams.  If they had a profitable business model, there is no shortage of Venture Capital money to fund operations.  If they have to crowdsource 20 dollars per share, chances are the business model is "take the bitcoin and run" or "Collect huge salaries and live high on the hog until we file bankruptcy."
       

EARN 19.3% PER YEAR!
Put your Bitcoin to Work - Invest in Peer to Peer Loans

https://btcjam.com/landing/invest?utm_source=facebook-ads-investors&utm_medium=cpc&utm_campaign=2014-11-10-Investor-pages&utm_content=coins-notes

Coincident or another scam ??

[sunny1]

this is crazy I was looking up information on how to make money with bitcoin a few weeks ago,
came across Bitcoin Trader in some youtube videos, I was so close to putting some funds there.
I was thinking if its been around for a while then it must be ok,

Consider yourself very lucky.  A friend and myself lost a fair amount of BTC to this sham for precisely the same reason.  We figured if it had been around for over a year perhaps their claims of not being a HYIP had some credence.  Boy, do we feel stupid.

Bitcoin the technology I still believe in whole heartedly, but it's this kinda crap that's keeping 96+% of the rest of the world from truly embracing this thing of beauty.  Leave it to greedy, unscrupulous people to ruin the single most ingenious invention arguably in multiple generations (or at least peoples perception of it).

As for fund recovery, I'll be surprised if we see a single satoshi of our investment at this point as it appears the con behind this appears to be a verteran scam-artist.  I feel bad for both mine and my friends lost satoshi's as well as anybody else that fell prey to this scam but honestly I'm more concerned what impact this will have on the 'general publics perception of bitcoin overall. 

I am coming to the conclusion that most "Put you Bitcoin to work" businesses on the internet are scams.  If they had a profitable business model, there is no shortage of Venture Capital money to fund operations.  If they have to crowdsource 20 dollars per share, chances are the business model is "take the bitcoin and run" or "Collect huge salaries and live high on the hog until we file bankruptcy."
       

EARN 19.3% PER YEAR!
Put your Bitcoin to Work - Invest in Peer to Peer Loans

https://btcjam.com/landing/invest?utm_source=facebook-ads-investors&utm_medium=cpc&utm_campaign=2014-11-10-Investor-pages&utm_content=coins-notes

Coincident or another scam ??

btcjam is not a scam. But you borrow money to people you don't even know. So the task here is to borrow the money to the right people, who will eventually pay you back.

[Phildo]

Be careful on btc jam. one person was running a secretive ponzi/type scam, and it can be very easy to get fucked over by something like that.

People could just use one loan to payoff another loan and build up a reputation with very little risk or cost and eventually run when they geet a big enough mark (or several).

[pawlo74]

Be careful on btc jam. one person was running a secretive ponzi/type scam, and it can be very easy to get fucked over by something like that.

People could just use one loan to payoff another loan and build up a reputation with very little risk or cost and eventually run when they geet a big enough mark (or several).

Thank you Phildo

sunny1 I don't know why but I don't trust you actually sorry I know I've been watching this thread

[corygto]

Be careful on btc jam. one person was running a secretive ponzi/type scam, and it can be very easy to get fucked over by something like that.

People could just use one loan to payoff another loan and build up a reputation with very little risk or cost and eventually run when they geet a big enough mark (or several).

Thank you Phildo

sunny1 I don't know why I don't trust you

Eh sonny is correct for the most part. It's all in who you choose to lend to...many many loans have been repaid on time at btc jam and bitlendingclub.

It could theoretically be an easy way to make a lot of money off interest if you trust human beings

[Phildo]

I've never looked into investing there because I don't trust anyone, but just be careful. Everything could be fine one second and then the next thing you know there is a scam accusation page with 50 different people who had made separate loans to one person. None of them knew the other people were lending money, and none of them knew how the guy was making money.

To make money in bitcoin "investing" you need to make sure you trust the person, and make sure that they have a way to generate bitcoins. Some people may be just using bitcoin as a way to transfer money, but in that case you are going to get fucked if the price raises too much, so you would be better off holding.

Don't invest in people that are trying to buy miners, because miners won't ROI, so they can't buy you back.

[pawlo74]

Be careful on btc jam. one person was running a secretive ponzi/type scam, and it can be very easy to get fucked over by something like that.

People could just use one loan to payoff another loan and build up a reputation with very little risk or cost and eventually run when they geet a big enough mark (or several).

Thank you Phildo

sunny1 I don't know why I don't trust you sorry actually I know, I've been watching you in this thread

Eh sonny is correct for the most part. It's all in who you choose to lend to...many many loans have been repaid on time at btc jam and bitlendingclub.

It could theoretically be an easy way to make a lot of money off interest if you trust human beings

That's right Bitcoin Trader was around for long time and I trusted him

[pawlo74]

I have done my research and I know now BTC jam is not a scam. Any way might be risky so I will watch.

[Phildo]

I have done my research and I know now BTC jam is not a scam. Any way might be risky so I will watch.

The site itself is not a scam but there have been and will be scammers there in the future.

Just look at all the possible outcomes for a loan and if you still think its a good idea go for it, but don't cry when your coins disappear.

[Grinder]

I have done my research and I know now BTC jam is not a scam. Any way might be risky so I will watch.

How do you know this? I think it's more than a bit strange that their deposit interest is much higher than the interest they charge for loans.

[pawlo74]

I have done my research and I know now BTC jam is not a scam. Any way might be risky so I will watch.

How do you know this? I think it's more than a bit strange that their deposit interest is much higher than the interest they charge for loans.

You right, I tough the same but people who talk about it and behind it.
I can not imagine they can be scammers, they are well known some of them VC.
Any way I am very careful and I would say "never say never"

http://www.businessweek.com/videos/2014-11-17/bitcoin-as-a-technology-bloomberg-pane

[Phildo]

I have done my research and I know now BTC jam is not a scam. Any way might be risky so I will watch.

How do you know this? I think it's more than a bit strange that their deposit interest is much higher than the interest they charge for loans.

It varies by loan, you want to advertise a high rate for "lenders" and a low rate for "borrowers" to get them in the door.

[Serpens66]

why does everybody chat about other sites than bitcoin-trader.biz?   Go to a btcjam thread.
I only want to read news about the hunt from bitcoin-trader. And if there are no news, there is no need to post in this thread.

[Phildo]

why does everybody chat about other sites than bitcoin-trader.biz?   Go to a btcjam thread.
I only want to read news about the hunt from bitcoin-trader. And if there are no news, there is no need to post in this thread.

There is no news, he stole your money. People have questions about other "investments" and it's better to post the answers where people can see them, because if you gave money to bitcoin trader you obviously missed the warnings.

[david123]

why does everybody chat about other sites than bitcoin-trader.biz?   Go to a btcjam thread.
I only want to read news about the hunt from bitcoin-trader. And if there are no news, there is no need to post in this thread.

+1

This thread became completely OT. I don't care about btcjam or esoteric investments or whatever..

[planecrash]

There won't be anymore news.  These HYIP sites are a dime a dozen.  Check out the "blacklist" section of http://www.hyipexplorer.com/  It currently has over 32,000 records, of which BT represents just 0.003%.  BT differed only in that they advertised on Reddit and Blockchain and justified their earnings with mining.  Other than that, it was a cookie cutter HYIP.  There is no reason to assume authorities will pursue BT over the tens of thousands of other concurrent scams.  

The matter is further clouded by the victims attempts to collaborate, unable to even subtract the correct numbers in question, despite being corrected every time the issue is raised.  Deposits - withdrawals = money lost.  All victims first attempts to collaborate on this point always include "value of shares" which in my case, makes my losses appear double of what they actually are. Additionally you have multiple victims taking the lead, so they all have their own aggregate of losses combined from a different sets of participants.

Take away: We've all been had, authorities won't even investigate, they're never going to get caught, even if they did, they don't have enough of the money to pay people back.  Write this off as a lesson learned, and be skeptical of "too good to be true" in the future.

Cheers!

[BombaUcigasa]

I would like to retract my previous statements regarding profitability rates consistently attainable above 1% a day in the bitcoin markets. It is possible to obtain over 2% on some days and situations but in the long term the market sizes, operation fees, operation wages, variance and random losses will reduce this profit margin.

Based on my research of all available methods and tests, plus all trading algorithms presented so far, unless someone is manipulating the market heavily with huge costs, the profit rates can not average above 0.4% a day for the operator (~430%/year).

This means that dollar cost averaging and long term holding across market bubbles will cheaply and effectively provide the best investment returns with maximum funds security (~740%/year).

[BombaUcigasa]

There are some self-reported success stories from day-traders but there don't seem to be any public fund results or group analyses made for day-trading to show return rates.

Also if anyone has any ideas on a possible profit model, I can take a look and correct myself again.

I still don't know where BT pulled their daily profit numbers, they were market-based but which indicators they used is unknown.

[pawlo74]

There are some self-reported success stories from day-traders but there don't seem to be any public fund results or group analyses made for day-trading to show return rates.

Also if anyone has any ideas on a possible profit model, I can take a look and correct myself again.

I still don't know where BT pulled their daily profit numbers, they were market-based but which indicators they used is unknown.

What you're talking about ? That was all scam from beginning to the end.
 I'm coming to conclusion there was some government agency involved in it, too well organized.