Bitcoins Brain (BitcoinsBrain) BTC Investment Program could be a scam / Ponzi scheme
I have recently joined Bitcoins Brain program just to test it out. It looks like a typical Ponzi Scheme: no product, you just put money in for high returns. Immediate red flags:
- Website is registered in Russia with short life expectancy domain name - http://www.scamadviser.com/check-website/bitcoinsbrain.com
- They don't really explain how it works, just whole bunch of fluffy words how cool it is without any proper explanation.
- Very high returns
Although, It has been paying so far (I have been receiving my payouts every 4 hours) and I guess if you get in and out early enough you could make good profits while people are still joining. To break even you need 14 days with current interest rates (0.3% hourly * 24 * 14).
If you feel like gambling, join here https://bitcoinsbrain.com/?a22111
also took a gambel on it.
today was the day I would get even but there are no payouts for the last hours. Will see tomorrow.
Stopped paying out guys!! Its PISH!!!!!\
Yeah, this came up on my facebook feed. I'm betting on it being a scam... just keep paying out so long as the investments keep coming in and then pull the plug when you calculate that you've got the peak returns for your scam... Assuming that peak scamming profits come after the 14 days, any super early adopters would stand to make a profit so long as the website stays up.
Yes, talked to their support on Telegram. He admitted that it is not a real business. But it is still paying. It will probably survive another 1 month or so