For help, advice and discussion about stuff not related to aviation. Play nice: no religion, no politics and no axe grinding please.
User avatar
By Morten
FLYER Club Member  FLYER Club Member
#1584786
Pyramids and variations thereof abound. Here is one: https://coins.newbium.com/post/6728-rom ... t-on-yobit.

Looks great until you look at the actual practicalities....
Just like a traditional pyramid you are guaranteed to get a higher return than your investment as long as you can wait long enough. "Long enough" is very long and depends on other people joining. (People who have already joined will be blogging about how great they are and shouting on the forums to attract others to join ;) )
Again, great if you are the first in line, but once the ball has starting rolling, you are highly unlikely to get anything back in any foreseeable future. Still, there's one born every minute and he is easily parted with his money :roll:
felixflyer liked this
User avatar
By Paul_Sengupta
FLYER Club Member  FLYER Club Member
#1585259
http://metro.co.uk/2018/01/19/heartbroken-families-lose-life-savings-catastrophic-crash-bitconnect-cryptocurrency-7242067/

Another person raged: ‘This is all a bad joke right? ‘I’m ruined. Like really ****ing ruined. I have nothing left. I put everything I had into this because I trusted them. ‘Literally all of my family’s savings are in Bitconnect, because a friend told me the risk was worth it. ‘Are you telling me I lost everything? $80,000 gone like nothing?’
#1585271
As with most Pyramid & MLM schemes, the money was in the referrals. Many friends and family members have been duped into investing in this scam. There were also some You Tubers that made a lot of money selling it with their referral code. These have been busy deleting their videos and the Lawyers are circling already. There will be a lot of fallout from this.

There are other similar schemes still running. One called USI-Tech which some think is also a scam but it's members, as usual are very defensive.
By cockney steve
FLYER Club Member  FLYER Club Member
#1585771
There is a huge difference between investing and gambling. Unfortunately, because stocks and shares are "respectable" people lose sight of this fact.
As the saying goes, "I wouldn't touch it with yours, let alone mine"

If you want to take a punt, be prepared to lose the lot. If you cash-in your chips at the right time, you could turn a handsome profit. (ultimately, at someone else's expense. )
Absolutely no sympathy for any of the snowflakes in @Paul_Sengupta post above....AIUI, first rule of investment.-
Never put all your eggs in one basket.
rule 2.-
never put in more than you can afford to lose.

Greed blinds people....ask any of Bernie Madoff's victims.
#1589440
For what coins?

I use MyEtherWallet but mine are mostly Ethereum based ones.

Get a Ledger Nano hardware wallet but there is a back order for them at the moment.

If you want to hold BTC then I have heard that Bitaddress.org is the best but like all them them, guard your private key with your life like your pin number.