I just signed up for Bitpetite and I want to give them all my Bitcoin.
I also want to give them some Ethereum and maybe a few Litecoins.
Bitpetite is a business with 2 services:
- Tumble your coins for you if you want to get new coins.
- You can lend them your Bitcoin, Ethereum or Litecoin and they will pay you back 4.5% per day.
There are two ways to invest in Bitpetite: - You can give them crypto and get paid back in crypto
- Give them crypto and have it immediately converted to USD and get paid back in USD which you must convert back to crypto to send it to your personal wallet.
Bitpettite payouts come in 2 styles: - 6 weeks (42 days) at 4.5% 5 days a week and 1% on the weekends.
- 9 weeks (63 days) at 3.5% 5 days a week and 1% on the weekends.
*so if you do the math on that 4.5% becomes 3.5% every day and 3.5% becomes 2.78% everyday.
There are 2 things to consider with the payouts: - Will BTC/ETH/LTC bet worth more in USD in the coming weeks? Personally, I think crypto is going up in values against the USD. I will take my payout in crypto. But to play contrarian I though ETH was going higher when it hit $400 in June and boy was I wrong!
- Will BTC/ETH/LTC be worth less in the coming weeks? If I had a crystal ball I would have given them 1 ETH when ETH was $400 June 13th 2017 then I would have gotten paid $14 every day since then. 60 days later I would have over $800 which is enough to buy 2 ETH and 2 LTC today.
I am not advising anyone to do this – I am just saying that I will try it out and get back to you on how this goes. With the recent events in Bitconnect I am sure some people can see the risks.
This project seems risky to me because of two things:
- The site could close any time and take all your money. I sent them some BTC and ETH 8 hours ago today and so far I don’t even see it in my account. Gulp!
- The whole ‘tumbling bitcoins’ thing has already been pointed out by the government as a bad thing and possibly connected to money laundering. The government has pushed to shut down tumbling sites. Therefore, this site could come down tomorrow and you could be attached to some kind of cybercrime.
Ok, still interested in Bitpetite? Click this link to read more:
https://bitpetite.com/?aff=altcoinnerd
Follow me on steemit https://steemit.com/@altcoinnerd
I posted a video about this on youtube and dtube
https://dtube.video/#!/v/altcoinnerd/tc4afomc
Thank you for your support:
Aragon 0x30dE9ba2125b34c21eec690D2445AdC64Cb05322
Augur 0x30dE9ba2125b34c21eec690D2445AdC64Cb05322
Bitcoin 1MZsiPn69pAzSjGCLBo63qDKBK136uHasw
Dash XsQNtTjrgjaXQtCtzbxoTKLbuFQk4iN7cH
Decred DsfRBFGodpoKVDmGrQffzR1NjrEe3wnU8Dx
EOS 0x30dE9ba2125b34c21eec690D2445AdC64Cb05322
Ethereum 0x30dE9ba2125b34c21eec690D2445AdC64Cb05322
Golem 0x30dE9ba2125b34c21eec690D2445AdC64Cb05322
Litecoin LPbuv8UpmngvQDvFKJgNfqCr3W1EDQiRub
Omisego 0x30dE9ba2125b34c21eec690D2445AdC64Cb05322
PIE PWjnJmH8zySWbBCR1b5Jg4taYAkBAf2GJp
Waves 0xbf04e18286ee87f57aed1f4e7cf89ddf17606d6b
https://control-finance.com/?ref=jackhazard
https://bitconnect.co/?ref=altcoinnerd
check out my video on bitpetite
https://dtube.video/#!/v/altcoinnerd/tc4afomc
While it may not be a scam in your opinion, it could be considered spam. Spam is not appreciated by the community and could be flagged or may result in action from the cheetah bot..
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It's a scam or ponzi scheme site for sure.
It's just impossible to pay 3.5% or 4.5% returns on your investment for long term. It's not at all profitable for any organization or scheme provider.
It's too high to be true.
What they do is, they will give you these high returns for first few people for some time. Until then, the first people will be getting more investors for them for getting referral bonuses. Once they have got enough investments, they will run away with all the money.
i aprouve just like bitlake wich promise 10 % par day but you can't draw your investement the site blocked the withdraw after just 11 day so unless you are in it from the first day and you withdraw your profit regulary you lose money
oh boy i hope not
Interesting but the whole appeal of crypto to me is having control over your holdings. This would make me a nervous wreck.
It used to bother me but I have too much else on my mind to worry.
Sounds interesting but I am not sure if it's sustainable. So be careful not to invest money you can't afford to lose. But it sounds like you've already made peace with any form of outcome, good or bad. Good luck
Time will tell. i need to do another post on how i didn't see the deposit for a day and customer service was really great about taking my money. Maybe they will not be so nice when i try to take it back. Mostly i am worried the government will shut i down, not that they will shut down. Herbalife is still going strong.