So, you are operating as a fund? Send you BTC and you use the BTC to invest in various HYIPs? When can users of your investment expect returns on the investment? What's the advantage in investing w/ you as opposed to a platform like Chain.Group that pays out every day?
You are viewing a single comment's thread from:
The difference between this fund and a hyip like chain is that hyips are a ponzi, where this fund is a solvent fund that invests in hyips. This isn't readily provable, but it will be evident when all the current hyip's have passed in a year or so, and the fund is still around. The other reason is there will be losses sometimes, like last week when my friend took his allocation and put it in hashtraders.biz which already went bust this week. It is amazing how horribly perfect his timing was! (We're going to have to change out allocation system). Of course, this is fun for us, it is just an experiment. I enjoy blogging about actual investments and discussing and analyzing them, but I kind of regret advertising it on a large-ish scale because it is mainly an intellectual endeavor, at least for me. On the bright side, I used to consider chain.group to be just as scammy, but after reading your comment, I mapped out its business model and it seems more sustainable than I first thought, as they get a buffer from their extra commissions they make by sending investors to HYIP's featured on the platform. It seems only somewhat less stable than Bitconnect, which has been able to sustain itself itself super cleverly for so long using proof of stake from its premined tokens.
Thanks for the reply. I can see the appeal and I'm still interested. I'm not sure how much you're willing to answer, but: 1. how many people are currently participating in the fund? 2. what is the term of investment? 3. What kind of returns can an investor expect? 4. do you have a Telegram or a Slack, some place to privately discuss investments or your investment strategies? 5. Just to confirm, you don't manually send daily earnings to your investors, correct? But your investors can request a payout by messaging you here on Steemit and sending a transaction fee?
My friend and I were invested in the fund, but I bought him out as a result of the allocation debacle and because I manage the entire blog anyway. No one invested based on the first post, which is probably good because the ownership issue caused a drop in equity. There is no set term like there is in hyip contracts, the withdrawal is on request rather than on some kind of "1% per hour" plan like an hyip. The goal is to produce solvent returns of about half way between hyip rate and flat rate because even the best hyip's sometimes shut down. Additionally, right now the focus in on HYIP's which normally calculate interest in dollars, but I'm bullish on bitcoin, so I am also keeping an eye on investments that increase in bitcoin rather than USD, such as Poloniex short term lending. I'm working on getting Telegram, right now the verification wizard doesn't like my phone number.