Silk Road forums
Market => Product offers => Topic started by: frogwithADD on June 20, 2012, 07:01 pm
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With the price of BTC consistently going up, it's a great time to invest in bitcoins. If you have some extra BTC on hand, why not invest it in something that will make you returns!
Let me know if having a 5% WEEKLY return is something you'd be interested in. If compounded, it'll double your money in 3.5 months! With the price of BTC expected to be ~$10 by December, you can make roughly 5 TIMES your current investment by the end of the year.
I'm thinking of setting a minimum deposit of 10BTC and minimum period of 3 weeks to reduce hassle.
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With the price of BTC consistently going up, it's a great time to invest in bitcoins. If you have some extra BTC on hand, why not invest it in something that will make you returns!
Let me know if having a 5% WEEKLY return is something you'd be interested in. If compounded, it'll double your money in 3.5 months! With the price of BTC expected to be ~$10 by December, you can make roughly 5 TIMES your current investment by the end of the year.
I'm thinking of setting a minimum deposit of 10BTC and minimum period of 3 weeks to reduce hassle.
Hi buddy, how's it going?
I agree with your predictions about the Bitcoin but am somewhat staggered about the interests rates you offer. I work in Hedge Funds and the most my department have mustered has been around 2 - 3 % per week, could you tell us anything more about your portfolio?
V.
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Hi buddy, how's it going?
I agree with your predictions about the Bitcoin but am somewhat staggered about the interests rates you offer. I work in Hedge Funds and the most my department have mustered has been around 2 - 3 % per week, could you tell us anything more about your portfolio?
V.
Yep. It'll essentially be a Pirate Pass through. Pirate40 from bitcointalk has been offering high interest returns since November and a lot of people (Invites only) has made a lot of money from him. He has been very secretive about what he does with the money, and many suspect he's running a Ponzi scheme. There are a lot of discussions over this topic at bitcointalk, so check it out if you're interested.
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He has been very secretive about what he does with the money, and many suspect he's running a Ponzi scheme. There are a lot of discussions over this topic at bitcointalk, so check it out if you're interested.
That's exactly what I was going to say: Ponzi scheme. These things are incredibly destructive and enticing. I'm not a law and order guy by a long shot, but there's a reason these things are illegal.
And Vlad, I wasn't aware of your line of work, hedge funds, but in your heart of hearts, don't you feel that this is also a sort of Ponzi? It's part of what is leading the world to a cataclysmic shakedown. Real flat earth economics, that. Remember, there's no such thing as infinite growth in a finite planet.
MockFrog
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And Vlad, I wasn't aware of your line of work, hedge funds, but in your heart of hearts, don't you feel that this is also a sort of Ponzi? It's part of what is leading the world to a cataclysmic shakedown. Real flat earth economics, that. Remember, there's no such thing as infinite growth in a finite planet.
Yes, I have suspicions that it's a ponzi too, which is why I get my interest paid to me every month. The only thing suggesting otherwise is the fact that this thing is invite only.
Glad to see another frog with here, hehe :)
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He has been very secretive about what he does with the money, and many suspect he's running a Ponzi scheme. There are a lot of discussions over this topic at bitcointalk, so check it out if you're interested.
That's exactly what I was going to say: Ponzi scheme. These things are incredibly destructive and enticing. I'm not a law and order guy by a long shot, but there's a reason these things are illegal.
And Vlad, I wasn't aware of your line of work, hedge funds, but in your heart of hearts, don't you feel that this is also a sort of Ponzi? It's part of what is leading the world to a cataclysmic shakedown. Real flat earth economics, that. Remember, there's no such thing as infinite growth in a finite planet.
MockFrog
An interesting idea but my bank differs from a Ponzi scheme in one important respect in that where our investors to demand the return of their initial investment we would provide this, though of course there are penalties for early withdrawal.
I did read on thebitcointrader that the Pirate scheme might be a Ponzi - with my banker head on I do find it hard to believe that this is anything other than a pyramid scheme ; having said that one of my colleagues has actually made good money from so-called High Yield Investment Programs by using monitoring websites to know when to invest tiny amounts of cash over a few days and when to pull his funds out when the scheme goes bad - I wouldn't recommend anyone makes a habit out of it of course!
I have seen Pirate's bonds experiencing something of a renaissance on GLBSE as traders like yourself sell them on - but I have decided to place my faith in trading bots and "green" miners - perhaps this is short sighted but in the story of the Hare and the Tortoise it's the slow and steady who win the race - best of luck with your investment program frogwith ADD in any case.
V.
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This isn't a savings account.
This is essentially a derivative of a HIGH RISK BOND that could never pay out again.
A savings account would guarantee me my money + interest at the end of a certain period. This does none of that.
No offense against you, but I hope you know this as well. You are essentially making your own ponzi scheme.
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This isn't a savings account.
This is essentially a derivative of a HIGH RISK BOND that could never pay out again.
A savings account would guarantee me my money + interest at the end of a certain period. This does none of that.
No offense against you, but I hope you know this as well. You are essentially making your own ponzi scheme.
I don't want to criticise newer vendors as I'm one myself(!) but my modest experience in Hedge Funds, which provide some of the most lucrative investment opportunities leads me to believe that despite the fact that FroggwithADD may be selling bonds in good faith, said bonds are part of a teetering pyramid.
The Bitcoin itself as an investment opportunity has looked promising in the past two months and has indeed risen by around 5% in value in the past three weeks if we're going by Intersango but part of risk management (my day job) is to inspect overall trends and at the moment my humble opinion is that the coin is simply too volatile to guarantee the kind of returns being promised - of course this doesn't mean you can't make money from arbitrage, investing in mining pools and so on!
The investment opportunity I offered when I first joined was 5% every 30 days which is highly irregular but I hoped to achieve it by simply passing off SR users money as my own and investing it in the same schemes as high net worth individuals funds at my bank - this is quite a common practice for Hedge Fund Managers as they then have a vested interest in making sure their client's portfolio becomes more lucrative. Having said that I would only be able to achieve this level of return with the help of a colleague who has decades of experience in the industry - the idea that this can be done sustainably for 5% per week stretches credibility.
Nevertheless I have dealt with my share of naysayers in my time and am willing to be amazed. As such FrogwithADD I'd be happy to invest a nominal amount (say five Bitcoins) in your scheme and if it comes to fruition, no one will be happier than I!
V.
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Glad to see another frog with here, hehe :)
Us frogs got to stick together, ribbit.
MockFrog
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Ughh..
I hate to do this to anyone in the community, but this is simply wrong. Not only that, but if you want a derivative of Pirate's bond's there are other derivatives of pirates bonds paying more than 5% on the GBLSE that are listed on the exchange.
Frog, you must understand that essentially you MAY be ripping people off with your savings account. What will happen when/if Pirate defaults and then your money + investors money is gone? Then it will be time for a new screen name and identity on this website because you essentially will be hated and no better than a Tony or GummyStars.
I would advise you not to follow through with this scheme. Or if you do, at least call it what it is. A high risk derivative of a bond that will most likely not pay out sometime in the future given these current interest rates. I promise if you take some finance classes at school you will realize there is a definite reason Pirate is paying 7% per week. Either it is straight through drug laundering, which has an expiration date on longevity, or it is a pyramid scheme which may/may not have a shorter shelf life span than laundering.
It doesn't really matter what he is doing. Just don't be an idiot and get burnt on this b/c there are plenty of other good opportunities on the GBLSE. Good luck.
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Thanks for your comments dance4life, I feel much the same way.
I see for instance that the Pirate Derivative "B" is offering a return of 6.75% per week. It's been ticking over nicely for the past three weeks but if you think about it, it would have to keep on paying out for at least ten before you see any return on your investment.
I have no doubt Frog means well - I see that other people on GLBSE also like to get users to invest in their own portfolio as a way of hedging some of the risk but I really don't understand how some of the numbers are supposed to work - as I said my own manager (who incidentally is my Mentor and introduced me to the Bitcoin) is the most successful Hedge Fund Manager I know and even being based offshore with every investment mechanism known to man at his fingertips he hasn't pulled in this much.
In any case I've decided to take a few Bitcoins from some of my more stable ventures on GLBSE (Hot tip : Rare Earth Metals) and sink them into some of the more dubious schemes. I'd rather risk a few of my Bitcoins then see you all lose your hard earned cash in some elaborate Ponzi scheme. I'll let you all know how it goes but frankly if you want to see the truth just cross your arms and hold off on investing for a few months.
V.
Ughh..
I hate to do this to anyone in the community, but this is simply wrong. Not only that, but if you want a derivative of Pirate's bond's there are other derivatives of pirates bonds paying more than 5% on the GBLSE that are listed on the exchange.
Frog, you must understand that essentially you MAY be ripping people off with your savings account. What will happen when/if Pirate defaults and then your money + investors money is gone? Then it will be time for a new screen name and identity on this website because you essentially will be hated and no better than a Tony or GummyStars.
I would advise you not to follow through with this scheme. Or if you do, at least call it what it is. A high risk derivative of a bond that will most likely not pay out sometime in the future given these current interest rates. I promise if you take some finance classes at school you will realize there is a definite reason Pirate is paying 7% per week. Either it is straight through drug laundering, which has an expiration date on longevity, or it is a pyramid scheme which may/may not have a shorter shelf life span than laundering.
It doesn't really matter what he is doing. Just don't be an idiot and get burnt on this b/c there are plenty of other good opportunities on the GBLSE. Good luck.
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Vlad ~ Are there any investment opportunities with BTC that you would suggest?
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1. Title changed.
2. Like I said, it's possible that it's a ponzi, no one is denying that.
3. You can still make money from a ponzi by coming out early.
4. I'm personally doing it because I got some extra BTC from this site, and essentially gambling a bit. I'm guessing the odds are better than most places.
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1. Title changed.
2. Like I said, it's possible that it's a ponzi, no one is denying that.
3. You can still make money from a ponzi by coming out early.
4. I'm personally doing it because I got some extra BTC from this site, and essentially gambling a bit. I'm guessing the odds are better than most places.
Cool man, didn't mean to salt your game. But now it is correctly labeled. It is much better to be truthful about this if you are serious about it. I think you will do ok as I honestly believe he is just turning money over, probably for SR for all I know with the volume he does. He could also have different monikers. Perhaps offering less interest to scheme the game.
If he indeed does launder for SR himself, I see him being able to make his interest payments. :)
GL with your shit.
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Vlad ~ Are there any investment opportunities with BTC that you would suggest?
Hi D3LL,
Although I don't claim to be any more prescient than anyone else here, I can give you some basic tips based on my short but colourful time in hedge funds.
Firstly I suggest you subscribe to TheBitcoinTrader blog and if you can afford it get a subscription to Bitcoin Magazine (who interviewed little old me last week!) :-)
Firstly you need to bear in mind that any investment you make with Bitcoins is primarily an investment in the Bitcoin itself. This is particularly true for the Bitcoin stock exchange as naturally your dividends are paid in Bitcoins. This won't be a problem so long as the Bitcoin continues to increase in value - of course if you live in a country with high inflation then investing in BTC is currently a no brainer. I think this explains the popularity of the Bitcoin Exchange that was recently opened in Colombia as inflation there is ~10%.
As for the stock exchange itself it seems that investment opportunities can be loosely grouped into three categories.
Firstly, we have bonds such as the "Pirate" ones Frog is offering which promise huge returns of around 5% a week. Apparently this can be justified by the loans doled out by the bank backing them. My suspicion is that the interest paid on bonds is actually earlier investors' money but as Frog says it's possible to make money in this way. I would determine this to be a high risk investment and I wouldn't suggest you sink more than 3 or 4 % of your overall capital into it.
Another option are mining pools which give you the option of investing in Bitcoin Mining Rigs - I have dabbled with this on occasion but it would seem in most countries the benefits reaped from Bitcoin investment are outweighed by the costs of the electricity required to daisychain that many computers together. Having said this, I was impressed to see a couple of erstwhile miners using green methods to generate the power they needed such as hydroelectricity.
We also have my personal favourite where individual brokers offer you the opportunity to indirectly invest in an asset like the precious metals market. The promised returns are much smaller than the "Pirate" bonds (around 0.77% per week) but this is still light years ahead of what a savings account will pay. I have recently bought a number of shares in these kinds of schemes - the broker in question is Chinese so I imagine he's playing the Shanghai stock exchange off against shares in New York and London but it's easy to see why he wants my money to invest and how it is in his interest to guarantee a certain rate of return. Of course he is doing the hard work by spreading investments across a number of companies involved in the silver trade for example but that doesn't need to concern investors as you get your 0.77% per week regardless.
Finally there is my pet project in which I have invested heavily which consists of a trading bot being run by a team in Thailand. Quite simply it's a piece of software designed to make money from Bitcoins the same way many people do in buying them from one exchange at a certain price and selling them for a higher one at another exchange. The bot is programmed only to make a sale when it would be profitable to do so however it is hard to guarantee how profitable the scheme will be overall - of course as time goes on and more exchanges open it has the potential to become very lucrative indeed!
You should bear in mind that all of the above is just my opinion and the fact that I spread my investments over a number of schemes doesn't necessarily mean that this is a good idea - I prefer low risk even if it means I don't make a fortune overnight, everyone must do what they think is best!
V.
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We also have my personal favourite where individual brokers offer you the opportunity to indirectly invest in an asset like the precious metals market. The promised returns are much smaller than the "Pirate" bonds (around 0.77% per week) but this is still light years ahead of what a savings account will pay. I have recently bought a number of shares in these kinds of schemes - the broker in question is Chinese so I imagine he's playing the Shanghai stock exchange off against shares in New York and London but it's easy to see why he wants my money to invest and how it is in his interest to guarantee a certain rate of return. Of course he is doing the hard work by spreading investments across a number of companies involved in the silver trade for example but that doesn't need to concern investors as you get your 0.77% per week regardless.
Are these investments in USD or BTC? Are they available to the public? It is a good option assuming methods are more transparent, and these commodities (precious/rare-earth metals) are always going up to satisfy an ever growing demand.
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We also have my personal favourite where individual brokers offer you the opportunity to indirectly invest in an asset like the precious metals market. The promised returns are much smaller than the "Pirate" bonds (around 0.77% per week) but this is still light years ahead of what a savings account will pay. I have recently bought a number of shares in these kinds of schemes - the broker in question is Chinese so I imagine he's playing the Shanghai stock exchange off against shares in New York and London but it's easy to see why he wants my money to invest and how it is in his interest to guarantee a certain rate of return. Of course he is doing the hard work by spreading investments across a number of companies involved in the silver trade for example but that doesn't need to concern investors as you get your 0.77% per week regardless.
Are these investments in USD or BTC? Are they available to the public? It is a good option assuming methods are more transparent, and these commodities (precious/rare-earth metals) are always going up to satisfy an ever growing demand.
Hi FrogwithADD,
As I mentioned the investments are in Bitcoin - this might be a problem if BTC take a dramatic nosedive but so long as it remains more stable than your base currency and/or the promised interest rates then you're made. I agree this is a much safer investment than some of the other assets I've seen - if you want to get in to safer investments, send me a message. I don't mean to sound all mysterious but I also don't want people to lose their Bitcoins by trying to do too much too soon just because they read my posts!
All the best,
V.
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somethin smells phishy. I HEAR GUNSHOTS! CALL THE COPS
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somethin smells phishy. I HEAR GUNSHOTS! CALL THE COPS
Funnily enough when I offered my own investment program at 5% per month, some people said it wasn't a high enough return. A golden rule of bonds is that the higher the return, the greater level of risk - personally I'd rather have the certainty of an extra $100 dollars or so per month on my life savings of $2,000 than risk it on some "High Yield Investment" venture but that's just me :-)
V.