20% a month and 5% a month mining vs trading, can be possible ?

[Emilstyl]

Hi guys.
I recently meet a guy who invested his money in 2 systems.

1) the first one is mining, he basically gave 20.000 euros to this company (ibulltrade) and they promised him to give him back 20% a month.
There are different tiers, like from 1000 to 10000 you get 11%, from 10000 to 20000 you get 16% ecc.
I smell could be a scam, but this would be a nice passive income.
They say they have a farm big in norway where electricy doesn't cost much.

What do you think about ?

2) The second one is trading. He sent money to these guys (BTC actually, not money)  and they trade it on forex/crypto/commodities and they guarantee you at least 5% monthly of your investment back.

I again smell scam, but what you think about ?

I've been burst 7k on bitconnect, so i'm not really interested into this kind of things, but because those 2 are different and 1% daily was unsustainable but 5% monthly looks like much more real, I would like to know what you think about it and if any of you had good experiences in similar investment.
Thank you

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[DrG]

It's a scam. Plain and simple.

If the group actually does pay some returns they will only do so in the beginning to keep getting more users until they finally run away. This is how Bitcoin Savings and Trust and ever other HYIP/Pyramid/Ponzi has functioned.

Just settle for keeping your coins safe in a secure wallet.

[perri]

A promise is easy to say.
And it is an easy scheme, People who receive the money can pay back with the same money that received. That money never used for anything, just for pay the owner of that money itself. 1st month, 2nd month, maybe 3rd month will be the last, lol. Moreover in this current situation.

Number 2 may be more reasonable.
Will be better to lose some money at your hand than you lose the money at someone hands. And even better if you never lose the money.

[Awesomus Maximus]

Did the guy check how legit that company is before investing? Anybody can promise anything. This is not a reason good enough to give them your money. The second opportunity is no better than the first. Again who did he send his money to? Did he investigate first, or is it again just based on a promise? This guy would be much better off to buy some mining hardware and mine for himself. Also he can join an exchange and invest for himself. He may learn a lot how these things work and he is much safer and there is no risk of being scammed.

[leowonderful]

There’s nearly no way to guarantee a return while trading, and what you just described to us for number one is a pretty blatant Ponzi scheme, disguised as a cloud mining operation. Just go into the Service Discussion section, and you’ll see plenty of people getting burned from cloud mining.
If you’re willing to take the risk and have decent electrical rates, consider mining alts with physical hardware you own, or try hosted hardware. Even though profitability has dropped off pretty significantly in the last few months.

If anything, either store your coins away on a hardware wallet, or try other options like lending some coins to an exchange or people on this forum. Less risk involved doing these activities, though some risk is always present if you’re trying to invest.

[Emilstyl]

I just meet this guy and spoke with him.
He said they have this farm in Norway which has free electricity thanks to geotermic and eolic energy.
So I do think that if a farm is mining coins and selling them every night, and it virtually has no expenses apart from employee and technician, it could be the case you get back your capital ?

[Thekool1s]

I've been burst 7k on bitconnect, so i'm not really interested into this kind of things, but because those 2 are different and 1% daily was unsustainable but 5% monthly looks like much more real, I would like to know what you think about it and if any of you had good experiences in similar investment.

The 5% monthly does sound real, but there is no way to guarantee it. Unless they have told you that there is a risk of losing all of your money, You shouldn't invest with them. Cuz trading comes with a risk. Nothing is guaranteed while you are trading. No matter how good you are. Also, 20% a month is most likely a scam, cuz even virgin coins don't carry a premium of 20% above the market price.

I will recommend you to stay away from both. Since you have already lost money with bitconnect. Just keep this in mind, There isn't an easy way to make X% per month while doing nothing. Only a real Business can give you results like that.

He said they have this farm in Norway which has free electricity thanks to geotermic and eolic energy.

Did he show you the farm pictures?

[wheelz1200]

I just meet this guy and spoke with him.
He said they have this farm in Norway which has free electricity thanks to geotermic and eolic energy.
So I do think that if a farm is mining coins and selling them every night, and it virtually has no expenses apart from employee and technician, it could be the case you get back your capital ?

As soon as you hear the word guarantee, you can "guarantee" its a scam.  Not in one single market crypto or not can you get a guaranteed 20% return each month.  The scams wont stop until people stop putting money into this stuff.  Your buddy is 99.9% in a ponzi (.1% chance the company actually believes they can deliver 20%).  If you are a friend you will push him to get out asap

Same goes with trading...i dont care if they guarantee 1% in a year, you most likely will lose 100% of your invested funds

[perri]

I just meet this guy and spoke with him.
He said they have this farm in Norway which has free electricity thanks to geotermic and eolic energy.

If it right, a bit make sense but still isn't decrease the risk and possibility that your friend was scammed because everyone can say whatever he wants, such as I have a big mining farm with free electricity, do you believe me? I don't think so. Except, your (new) friend already know who the farm owner, how they operated, moreover he knows for sure the farm's location and knows another solid proof. (if) Maybe we were missing this part?

And how the deal, is that money will be used to purchase new mining tools? How long will the contract go?

I didn't say that your (new) friend was scammed, but who knows?

[wheelz1200]

I just meet this guy and spoke with him.
He said they have this farm in Norway which has free electricity thanks to geotermic and eolic energy.

If it right, a bit make sense but still isn't decrease the risk and possibility that your friend was scammed because everyone can say whatever he wants, such as I have a big mining farm with free electricity, do you believe me? I don't think so. Except, your (new) friend already know who the farm owner, how they operated, moreover he knows for sure the farm's location and knows another solid proof. (if) Maybe we were missing this part?

And how the deal, is that money will be used to purchase new mining tools? How long will the contract go?

I didn't say that your (new) friend was scammed, but who knows?

20% a month guarantee is how everyone should know.  Again there is no way to guarantee the return even with free electric, as there are unknowns; new equipment coming out, hashrates, coin prices etc.  Its not hard to spot a scam if you look past your greed

[perri]

-

If it right, a bit make sense but still isn't decrease the risk and possibility that your friend was scammed because everyone can say whatever he wants, such as I have a big mining farm with free electricity, do you believe me? I don't think so. Except, your (new) friend already know who the farm owner, how they operated, moreover he knows for sure the farm's location and knows another solid proof. (if) Maybe we were missing this part?

20% a month guarantee is how everyone should know.  Again there is no way to guarantee the return even with free electric, as there are unknowns; new equipment coming out, hashrates, coin prices etc.  Its not hard to spot a scam if you look past your greed

yes, that's why I make this word: make sense

Actually, with 20%, the fund payback will be covered on (at least) 5 month, still too good to be true on the current situation. I'm just comparing OP's first story (to) when OP said this farm has free electricity. Just it.

[nsummy]

All the responses have been good but I'll chime in and say scam.  Even if electricity is free, I can't imagine how much equipment would be required to earn 4000 Euros a month.  And how long does he get the 20% back?  Forever or a set period?  Even though 99% of these are a scam, there was probably a time a year ago when something like this might be legit.  Back then you could make money hand over fist, the problem was getting the equipment.  If someone had an inside with the ability to buy a lot of stuff I could see them soliciting investors.  But even then, there wouldn't be guarantees.    The 5% return on the investing sounds more plausible, but still, I don't know how they can say its a guaranteed return.

[ivaf]

Hi guys.
I recently meet a guy who invested his money in 2 systems.

1) the first one is mining, he basically gave 20.000 euros to this company (ibulltrade) and they promised him to give him back 20% a month.
There are different tiers, like from 1000 to 10000 you get 11%, from 10000 to 20000 you get 16% ecc.
I smell could be a scam, but this would be a nice passive income.
They say they have a farm big in norway where electricy doesn't cost much.

What do you think about ?

2) The second one is trading. He sent money to these guys (BTC actually, not money)  and they trade it on forex/crypto/commodities and they guarantee you at least 5% monthly of your investment back.

I again smell scam, but what you think about ?

I've been burst 7k on bitconnect, so i'm not really interested into this kind of things, but because those 2 are different and 1% daily was unsustainable but 5% monthly looks like much more real, I would like to know what you think about it and if any of you had good experiences in similar investment.
Thank you

Of course, this is fraud! In both cases.
In the first case, this is the classic Ponzi scheme. It is impossible to receive such income from mining. Especially now.
In the second case, it's just taking money away.
So, with 99% of the probability, this friend of yours will lose his investment. I hope he's ready for this.

[akirafes]

You know the last page before you even get the novel.