Invest Bitcoins due to launch shortly!!

[Benson Samuel]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

[1714845470]

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[Invest Bitcoin]

Hmm... it seems weird as i do not believe anyone can handpick bonds with guaranteed success.

The securities that we are talking about are fixed deposits and bonds which have been very popular for generations in India. It's also one of the most sought after investment methods for many due to the guarantee of returns..

Regards
Team Invest Bitcoin

[sporket]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.

[Benson Samuel]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.

There are easier ways to launder money. I would not go through this if I wanted to launder money.

[sporket]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.

There are easier ways to launder money. I would not go through this if I wanted to launder money.

In that case, what's your motivation for "investing" in this?  Other than the guy being your buddy.

[Benson Samuel]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.

There are easier ways to launder money. I would not go through this if I wanted to launder money.

In that case, what's your motivation for "investing" in this?  Other than the guy being your buddy.

From my perspective, all I am doing is putting a small part of my BTC into an investment, which I know can hold a steady return.
Am not looking at what he is doing with the BTC.

[sporket]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.

There are easier ways to launder money. I would not go through this if I wanted to launder money.

In that case, what's your motivation for "investing" in this?  Other than the guy being your buddy.

From my perspective, all I am doing is putting a small part of my BTC into an investment, which I know can hold a steady return.
Am not looking at what he is doing with the BTC.

In other words, you don't care how plausible his "guaranteed 6%" promise is, he's your buddy, you trust him, and wish to support his business.
That's fine, and perhaps this is a reasonable investment for OP's other friends, but expecting to raise money on the internet simply doesn't make much sense.
And neither does justifying this scheme with "[it will benefit the] half of India [who] do not have access to banks or bank accounts."

[Benson Samuel]

Well, his conviction has me sold
And I do see a small market for this as well.
May not be best for the internet, more like a Business Development drive may be needed to market this, but there will be users.

Am out of this. Cheers!

[Invest Bitcoin]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

I was responding to OP's claim that his scheme would benefit the "half of India do not have access to banks or bank accounts."
You, on the other hand, are simply trying to launder money.
This scheme also fails at effective money laundering.

There are easier ways to launder money. I would not go through this if I wanted to launder money.

In that case, what's your motivation for "investing" in this?  Other than the guy being your buddy.

From my perspective, all I am doing is putting a small part of my BTC into an investment, which I know can hold a steady return.
Am not looking at what he is doing with the BTC.

In other words, you don't care how plausible his "guaranteed 6%" promise is, he's your buddy, you trust him, and wish to support his business.
That's fine, and perhaps this is a reasonable investment for OP's other friends, but expecting to raise money on the internet simply doesn't make much sense.
And neither does justifying this scheme with "[it will benefit the] half of India [who] do not have access to banks or bank accounts."

While we know Benson, the guarantee of 6% comes from the fact that our investments provide that as a minimum. While we do understand that no investment can be guaranteed to such a great extent, our securities are overseen and have proven wise investments for huge part of the Indian population and this is our effort to open out this service to anyone interested in India and worldwide.

Regards
Team Invest Bitcoin

[sporket]

...
While we know Benson, the guarantee of 6% comes from the fact that our investments provide that as a minimum.

Circular reasoning is circular.

While we do understand that no investment can be guaranteed to such a great extent,

And yet you do it.

...our securities are overseen...

The securities you claim to be investing in are overseen, you're not.  I'm not worried about government bonds (you later changed this to "approved securities").  My issue is with *you*.

P.S:  I wouldn't normally bother to comment on something like this, but the patently absurd IPOs have gotten traction here make this worthy of comment.

[kittucrypt]

Here is a numeric example to highlight flaw in your so called "business plan".

Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.

Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.

Now you have to give me a 6% return on my BTC, which means you  have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?

Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.

I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment

[Invest Bitcoin]

Here is a numeric example to highlight flaw in your so called "business plan".

Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.

Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.

Now you have to give me a 6% return on my BTC, which means you  have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?

Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.

I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment

Our effort lies in protecting the current value of BTC. In the example that you've quoted, what we would do is convert the 10 BTC at the time of investment to INR based on BTC-e prices and invest the same into the plan of your choice. Let's say you choose the plan which gave you a return of 6% - in that case you get 6% over and above on the INR value at the time of conversion, which means that you would get INR 2,65,000 in total at the end of the deposit term (using your example)

The final payout will happen either in BTC or fiat depending on your choice at the end of the term.

Regards
Invest Bitcoin

[E.Sam]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

But wouldn't that raise flags regarding their own bank account? I mean, wouldn't the indian government ask where this money is coming from? who the investors are? these would be legitimate questions to avoid money laundering. Being the middle man who takes BTC and converts them into fiat would make you an accessory to such scheme. Hence, why they would have to provide the financial body of the country they are operating in proofs that the provenance of such funds are clean. How could they do that since investors would be anonymous?   

This, added to the fact that they are unknown, makes this a very very risky enterprise.

My 2 cents.

[Benson Samuel]

^
You do not have a bank account?

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

But wouldn't that raise flags regarding their own bank account? I mean, wouldn't the indian government ask where this money is coming from? who the investors are? these would be legitimate questions to avoid money laundering. Being the middle man who takes BTC and converts them into fiat would make you an accessory to such scheme. Hence, why they would have to provide the financial body of the country they are operating in proofs that the provenance of such funds are clean. How could they do that since investors would be anonymous?   

This, added to the fact that they are unknown, makes this a very very risky enterprise.

My 2 cents.

So....

I invested my Bitcoins.

Period.

Now what?

Oh..  I mined my coins.. if that is going to be the next question.

[Neo.op]

Here is a numeric example to highlight flaw in your so called "business plan".

Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.

Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.

Now you have to give me a 6% return on my BTC, which means you  have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?

Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.

I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment

Our effort lies in protecting the current value of BTC. In the example that you've quoted, what we would do is convert the 10 BTC at the time of investment to INR based on BTC-e prices and invest the same into the plan of your choice. Let's say you choose the plan which gave you a return of 6% - in that case you get 6% over and above on the INR value at the time of conversion, which means that you would get INR 2,65,000 in total at the end of the deposit term (using your example)

The final payout will happen either in BTC or fiat depending on your choice at the end of the term.

Regards
Invest Bitcoin

So what will be the payout in case we follow kittucrypt's example, if i choose for it to be in BTC -- considering you are asking for BTC investment? 2,65,000/27,500  = 9.363636 ...a 6.4% loss...why will someone invest with you again? Please dont say "protecting the current value of BTC" .....cause what happens if BTC value goes down below the current rate? Say 22,500 --- will you send me 11.78 BTC? Or just the 10.6 BTC?

[NotLambchop]

...
Oh..  I mined my coins.. if that is going to be the next question.

If you mined your coins, the blockchain makes that obvious (No Inputs (Newly Generated Coins)).  No red flags and no need to complicate things.
Claiming you mined your coins when the coins aren't freshly mined can be a bit tricky.  You'd be better off saying you found them under your couch cushions...

[E.Sam]

So....

I invested my Bitcoins.

Period.

Now what?

Oh..  I mined my coins.. if that is going to be the next question.

I personally don't care how you got your bitcoins, mined or stolen from an old lady. I m not the bitcoin police  

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

What I am saying is that they WOULD ask questions, either to you, or to them. So you argument of using them as the middle man to avoid such eventuality, if it were to arise, is ludicrous.

What I do know is that investing in an unknown, unregulated company in India (I guess they must be  - otherwise they would have to prove provenance of funds) that will exchange BTCs into fiat to buy bonds, is far more risky than to use BTC-e myself and buy some Greek bonds.

But hey, that's my opinion. Caveat emptor.

EDIT: I m not saying this is a scam or not. I have no ways of knowing. I m just merely underlining this as a risky investment.

[kittucrypt]

Here is a numeric example to highlight flaw in your so called "business plan".

Lets say I send you 10 BTC at current market price to invest. Now you cant invest BTC in any guaranteed return scenario. You have to invest the FIAT and like you said you choose to invest them in govt securities in India. Thus, you will go ahead and convert 10BTC-> INR and at current rates that would come to be around 250,000 INR.

Now lets say you put this money in whatever investment you intend to and generate a 6% return. Which means you will have 15,000 INR as retrn or 265,000 as total cash on hand.

Now you have to give me a 6% return on my BTC, which means you  have to give me 10.6 BTC back. The ONLY and I stress the ONLY way you will be able to do that is if BTC->INR exchange rate does not change. Even if BTC appreciates by 10% to say 27,500 , which is sooo much possible, you will need to cough up 291,500 to give me back my 10.6 BTC. Hell you will need 275,00 to even give back my 10 BTC. How will you get the difference?

Your plan is exposed to a significant exchange rate risk, which you are not even taking into account.

I suggest members to do their math before investing in this. I am not calling this scam. I believe its just poor investment

Our effort lies in protecting the current value of BTC. In the example that you've quoted, what we would do is convert the 10 BTC at the time of investment to INR based on BTC-e prices and invest the same into the plan of your choice. Let's say you choose the plan which gave you a return of 6% - in that case you get 6% over and above on the INR value at the time of conversion, which means that you would get INR 2,65,000 in total at the end of the deposit term (using your example)

The final payout will happen either in BTC or fiat depending on your choice at the end of the term.

Regards
Invest Bitcoin

So what will be the payout in case we follow kittucrypt's example, if i choose for it to be in BTC -- considering you are asking for BTC investment? 2,65,000/27,500  = 9.363636 ...a 6.4% loss...why will someone invest with you again? Please dont say "protecting the current value of BTC" .....cause what happens if BTC value goes down below the current rate? Say 22,500 --- will you send me 11.78 BTC? Or just the 10.6 BTC?

On top of what Neo said...Why would I pay you to convert my exposure in BTC to exposure in INR, when in all likelihood, the odds of getting returns higher than 6% on BTC are much much higher. What you are really doing is protecting the investments in INR and not in BTC. Infact, even that's not the case because inflation in India is much higher than those fixed income returns.

You not only do not understand the exchange rate risk, your fund provides no real value to investors. On top of it the compliance issues that someone else also pointed above, makes this investment an almost sure shot loosing preposition.

The ONLY way a BTC investor would gain is if after investing in your venture, the BTC price goes down. And if an investor is willing to take that bet, he might be better off by selling his BTC.

[Benson Samuel]

So....

I invested my Bitcoins.

Period.

Now what?

Oh..  I mined my coins.. if that is going to be the next question.

I personally don't care how you got your bitcoins, mined or stolen from an old lady. I m not the bitcoin police  

I do, but quite a few people I know have been questioned while using their bank accounts to trade.
Would rather not be one of them at this point in time.

What I am saying is that they WOULD ask questions, either to you, or to them. So you argument of using them as the middle man to avoid such eventuality, if it were to arise, is ludicrous.

What I do know is that investing in an unknown, unregulated company in India (I guess they must be  - otherwise they would have to prove provenance of funds) that will exchange BTCs into fiat to buy bonds, is far more risky than to use BTC-e myself and buy some Greek bonds.

But hey, that's my opinion. Caveat emptor.

EDIT: I m not saying this is a scam or not. I have no ways of knowing. I m just merely underlining this as a risky investment.

Hmmm... an opinion.. Valuable stuff that dope!!

[E.Sam]

Hmmm... an opinion.. Valuable stuff that dope!!

 ?