My Bitcoin "investments" [Update: 19/09/2017]
Hello fellow Steemians!
I'll share with you some screen caps of a few of my Bitcoin "investment" accounts. I cannot guarantee that these websites are not ponzi schemes or money pyramids as many seem to believe. I see this as a test to see how these things work and if they will ever make me any money.
Please note that I have not "invested" any more than I am willing to lose and I advise anyone who wants to "get in" on it to do the same.I would like to warn all users that all these companies could very well be a scam. Anyone who “guarantees” you otherwise is just trying to get you to sign up through their link, so they make some referral comission.
I appreciate that the post will probably be flagged due to the unpopularity of websites like Hashflare and Bitconnect, but to anyone who may be interested here are my results.
Hashflare (Cloud mining)
Admittedly I would like to have put a small amount more into cloud mining, but it would seem it is a very popular “investment” with the Bitcoin community and soon gets sold out. I am currently only mining Bitcoin using the SHA-256 contracts.
The terms of use changed on the 1st of September 2017 making the SHA-256 “contracts” on Hashflare only last one year before expiring.
I own 1Th of hashing power on Hashflare which cost me around $150 (“contracts” were cheaper before the 1st of September). Here are my results so far after 19 days mining.
Hashflare results after 19 days mining
It seems to be doing quite well, but the proof of the pudding will come when (if ever) my investment generates more satoshi than what it cost to buy. I also have no referrals on Hashflare so all “interest” comes from the cloud mining.
No referrals… 😥
| Investment | Return | % |
|---|---|---|
| $151.80 | $12.26 | 8.07% (18 days) |
Bitconnect (Lending program)
There seems to be a lot of controversy over Bitconnect and how it generates it’s “interest”. The idea is that you convert Bitcoin into BitConnect Coin (BCC) and then supposedly you lend your BCC to a trading robot which will return you your investment with interest.
Now i’m not too sure how dodgy Bitconnect is, or is the “trading bot” even exists, I know there is a lot of controversy around Bitconnect and it’s lending platform. All I can do is share with you my results and hope for the best!
My Bitconnect account so far
Once again I have no referrals on Bitconnect so the “interest” is all generated from my 3 “investments”.
No referrals... 😓
I have “invested” $360, and a little change is left in my BCC wallet. So far it has returned $8.37 (2.32%) over the last 8 days.
| Investment | Return | % |
|---|---|---|
| $360 | $8.37 | 2.32% (8 days) |
Global Bid
Now this seems really dodgy to me and could very well be a scam/ponzi scheme. I decided to throw some satoshi in anyway and see how it goes. The website promises 5% - 10% daily, forever… 🤔
Now I know someone is going to get on my back but I did just say it could possibly be a scam, otherwise everyone in the world would give them their money and get rich. Even in ponzi schemes, money can be made so as long as you get in at the beginning... Near the top.
Caution has been thrown to the wind and I put 0.006 BTC into an account there and we will see where this goes 😅...
My earnings on Globalbid
I’ll leave it for you all to decide whether it is a scam or not.
| Investment | Return | % |
|---|---|---|
| 0.00600000 | 0.00210000 | 35% (7 days) |
Genesis Mining
I never got around to buying hashpower on genesis, it ends up sold out instantly so it is super popular with the community. However I did get paid a referral commission 😄 making Genesis-Mining the only account that I have referrals on, but no “investment”. 😯
My referral commission on Genesis-Mining
| Investment | Return | % |
|---|---|---|
| $0 | $2.01 | - (16 days) |
So there it is, my Super high risk investments. I can’t vouch for how trustworthy any of these companies are. A lot of controversy surrounds anything that returns interest on bitcoin investments and I can easily point out some very strange points for all the companies listed here.
The whole, lend BTC to a “trading robot” that can make up to 10% daily or 40% monthly (GlobalBid and Bitconnect respectively) is very fishy. If you own a bot that can trade for a 10% profit daily or 40% on a monthly basis, why would you need to ask people for money? Wouldn’t you get insanely rich just be letting your bot trade.
Even Hashflare and Genesis-mining could very well be phony companies or a ponzi scheme. Anyone can create a video saying “hi! this is our mega mining rig, we rent out hash power” Unless you actually went to the installation and talked to an employee to verify that it belongs to one of the companies, it could easily be a scam.
if you decide to put some of your money in any of the above please do it through one of the links in this post! I get a referral commission if you do, it costs you nothing and would be fantastic! 😁
I thank anyone in advance that does!
Hashflare (Use code: DCE3018B)
Bitconnect
Global Bid
Genesis Mining (Use code: WGAmrk)
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Hashflare
💰 BTC: 1L2bTMbZ23s9v7GFMA5NiD5tSqkG38Yvgz
💰 ETH: 0x76aA02B473849e540dE18b5c55Ed5980d918CEb7
💰 LTC: 355nBgEd7n3HUA8n2skg8bAe3VNUGsFrbD
💰 DASH: Xj8x5jAX6X6tHjXK6yTmwDtRxd9oU5RkHV
💰 UNO: uRXQiav5NGD9sCLS8XKFYsNehJdHj6XMPJ
💰 BLK: BS3hNJAcpw9iCGSN63jBb1YkR1awjHuuQo
💰 XPM: 461LB9s4N65FWnr4uRzY9v4u5ARa5xxMLYCzjTZUfECqWYP3pcNNLMeGUuz38veszza55ixxP9UBLVjo3SwYWtGDNG1sB2h
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STOPI am interested in individual & cloud mining. The article was helpful. Thank you very much.
I'm glad you think so! Thanks for dropping the comment!