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01-11-2017, 01:40 | #1 |
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Making Money Online?
Investing some of my own money to see if there's any truth to the 'Daily Interest' types of investments!
https://youtu.be/3apBusVHZgU Hope you guys enjoy! |
01-11-2017, 07:55 | #2 | |
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I'm sure there are people who will make money from the scheme though. I'm so far oot that I'm in a different time zone. |
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01-11-2017, 08:49 | #3 |
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My exact gut reaction!
Time will tell! |
01-11-2017, 09:08 | #4 |
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It''ll make money for some, but it'll cost others. Essentially the Bitcoin is intangible and wholly dependant on supply demand, and like the banks, Bitcoin can flood the market and ultimately devalue any "investment" to zero. Currently there is growth in this type of industry and people are investing, demand is high, but competition is growing (thus diluting the market and weakening any value).
We live in times where people believe that making a fortune is easy, I suppose we've always had this, but to me, investing in an intangible is always a much higher risk and more open to fraud. Here we can ponzi the money in until we make enough, then devalue. Investments can go down as well as up and in this case 1% per day is totally unrealistic unless the money of other investors is used. I'm sure that you can afford to lose the £100, and I'm sure that you'll make money. But the fact that you make money will not convince me that it is a viable (or even 100% legal) business model. It's not. As a side note, I won't crowd fund without due diligence either.... Yours don simon Ba(hons) Business Management. |
01-11-2017, 09:20 | #5 |
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I agree with points made and understand Jay has gone into this with his eyes open. It’ll be interesting for curiosities sake so keep the updates coming. I watched the video before I came to the forum.
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01-11-2017, 10:05 | #6 |
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Not worth it mate, got family doing it from a data centre out on the isle of man with an array of Antminer S5's and they say that it's just not profitable anymore to mine Bitcoins
The only way you'll make money with Bitcoins now is if you buy them but take a look at the price
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01-11-2017, 21:12 | #7 |
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03-11-2017, 12:27 | #8 |
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Have you found a pool that will allow you to join yet to start mining? How much processing power do you have?
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03-11-2017, 20:08 | #9 |
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Having had a bit of a read it looks less like a ponzi scheme, but nothing to clearly define that it isn't. And that, of course, brings in another problem. There is NO regulation. You will not know where your money goes, nor how it is being used.
The investment is intangible and uncontrolled and like all markets dependant on supply and demand. Think about the fella who bough the last two remaining stamps of their type and immediately destroyed one of them. What will happen when Bitcoin decide to issue another 21m bitcoins? There are no governing bodies to say that they can't. What will happen when other folks decide to join the game and take their share of the demand. It's like most markets, but a lot easier to destroy, and without any protection for investors. As Banshee says, I understand that you need significant resources to go mining which will eat into any profits. Finally there is the ethical aspect. You haven't a clue which drug cartel, slave labour or terrorist organisation you're ultimately funding. A definite no, no for me. |
03-11-2017, 22:48 | #10 | |
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Most of what you have said doesn't concern me too much as this is just an experiment and I'm not expecting that much to come of it! Your last comment however, is a good one... A one I'm ashamed to say I'd never really thought of. Saying that, our government spends our money arming countries under the table who their in favour of... Maybe worse things that we never get to hear about. |
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03-11-2017, 23:43 | #11 | |
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While highlighlighting that governments do do under the table deals, I can't see any direct comparison between them and terrorism/drugs/slavery or being a justification for making a few quid. At least I can vote if I disagree with the government, when is the Bitcoin AGM? |
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04-11-2017, 00:35 | #12 |
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I completely agree with you... At least we get some say.
I'm not much into the business side of things, but I couldn't tell you when they would have an AGM... I couldn't tell you when any company has an AGM. My company doesn't even have one... I can't even get them to sit down together to talk about who used the last of the milk! |
04-11-2017, 10:47 | #13 | |
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Its boring but pensions are an option
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05-11-2017, 23:17 | #14 |
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That is some good news...
Reassuring to hear something good about pensions! |
03-11-2017, 22:42 | #15 |
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