On this page, the Metacoin team will keep tabs on some of the “Passive Income Programs” (or “PIPs”) that we’re trying out. This is an experiment, and you agree that, by checking out this site, you and you alone are responsible for successes or failures with any of these programs.
We’ll also share AFFILIATE LINKS here – these are either direct links or banner ads, and, for some of them, we may receive compensation for your participation.
We’ll keep updating this site as the weeks go by…like crypto in general, this is a rapidly changing space. Stay tuned for more updates.
Bitpetite IS A SCAM
INFORMATION UPDATED November 2, 2017
We’re working on a full blog post to break this down, but suffice it to say we officially declared it a SCAM this morning, and decided to bump it up to “above the fold” on this page.
- First, site was under maintenance.
- Then, those behind the site tweeted several updates about how, in effect, they weren’t a scam and weren’t shutting down and weren’t taking everyone’s money.
- Finally, all traces of the company disappeared off of the web and off of Twitter.
Our advice, as always, is to proceed with caution and if you have the chance to withdraw – e.g. “profit taking” – you should do that with any of these platforms as sensibly as possible.
But it’s a scam. We’re not surprised. We’re bummed – but we’re not surprised.
INFORMATION UPDATED October 17, 2017 – SEE FULL BLOG POST HERE.
Bitconnect got us rolling into these platforms. Our first foray into the PIPs was one that it took us at least a little time to understand: it’s called a “Lending” program and, while you are technically lending your Bitcoins, you’re really following a more involved process than that, and you’re lending money to Bitconnect itself so it can make money on your behalf. Here’s a chart of what we’ve accomplished to date – and we’ll explain what went down below the spreadsheet.
Getting started with Bitconnect is rather easy: first you trade your Bitcoins for BCC coins (and Bitconnect itself is a currency with an $830m market cap as of this writing, so it’s not going anywhere, we think; that put us at ease), and then you invest your BCC coins into the “volatility software” bot. That’s where you’re “lending” the coins to the bot, so that the bot can work its magic.
The minimum buy-in is $100, and your money is held for as many as 299 days. But the compelling premise – again, provided this site doesn’t go under and take your money with it – is that you can compound your interest by reinvesting. You take the profits from your investment and, as long as you have a minimum of $10, you can reinvest. However, your reinvestments are basically new tranches, and each additional tranche is locked up for 299 days.
Above, our performance so far, which is not too bad. We invested $110 to start and didn’t learn the nuances of reinvestment until we had $21.50 on July 26.
The only way to really compound your earnings is to reinvest; you can withdraw any of your earnings at any time, but if you want to work the magic of compound interest, you’ll need to reinvest. (And, again, that means saying goodbye to your money for 299 days.)
Commissions can be yours, too!
We lucked out on August 9: one day after a reinvestment of $10, someone used our BITCONNECT AFFILIATE LINK to invest. And they actually put enough into the site to throw off in excess of $30 in commissions.
In theory – and here’s where our main reticence lay – this is a Multi-Level Marketing program. So yeah, that means that you could technically build a huge team of your own by signing up with the link above and that team could build a huge team, too, and everyone could be happy.
MLM plans, though, immediately get people asking “is this a pyramid?” or “is this a Ponzi scheme?” We asked the same thing – but the tell-tale sign is if you’re selling a “product” or you’re in the “recruitment business.” There is benefit to getting more people in your team – through the added referral commissions you could earn – but the centerpiece of Bitconnect is, in fact, its volatility software product.
About Those Interest Rates…
The main difference between Bitconnect and Control Finance (which we’ll talk about below) is the fluctuating interest with Bitconnect. You could have some good days, you could have some bad days, you could have some zero days (highlighted above in lavender). You won’t see your principal drop, so that’s good – but the fluctuations mean less stability.
However, that could also bring more profit: Bitconnect caps the monthly interest at 40%. Our first month was 35.44% – but we got a better performance (71.32%) thanks to commissions and compounding.
Here’s an easy-to-click banner ADVERTISEMENT for Bitconnect. After this ad, we’ll compare and contrast it with Control Finance.
INFORMATION UPDATED September 7, 2017
Weird name, I’ll admit. And, when I started, I was confused about the premise – and I do think some of the blame falls on the Bitpetite folks, whose site is still confusing.
However, once you know that you are in effect buying a subscription to a service that gives you profits from transaction fees – and not “investing” with the intention of getting your principal back – it *may* be worthwhile for you to get involved.
We have profited a little from this site – by the time all is said and done, our results are expected to look like this:
We won’t get the original principal back, so the ROI here isn’t as great as it would have been had they paid back the original principal; we calculate the return at an even 47%.
BUT, and this is an important point: with Bitpetite, you can choose one of six investments, and three of them you can be paid out in the currency itself. It is like a hedge, of sorts. Take a little and set it aside in LTC, for instance and, should LTC continue even at the same level it’s at today, your ROI would balloon.
Factoring in a purchase price at $42.63 per LTC, and ending up with today’s price of around $80 per LTC means that we’ve grown by 176% when all is said and done.
Again, understanding those caveats, if you’re still willing to take the plunge, here’s that Bitpetite AFFILIATE LINK one more time.
INFORMATION UPDATED September 5, 2017
Okay, I’m so brand-spanking new to the mining biz that all I’ve done is sign up on the site and get a referral code.
That alone will be worth a 3% bonus to you. Click on this link GENESIS MINING and use our AFFILIATE CODE: waVTYG
INFORMATION UPDATED September 5, 2017
This is brand new, having just launched over the weekend. But, if you refer enough people, you can potentially share in the revenue from all transactions on the exchange, which is coming this fall.
Click on this link to sign up for free. Altcoin Exchange.
INFORMATION UPDATED September 26, 2017
We’ve removed our affiliate links – Bithaul is a scam. Don’t invest.
Control Finance – IT’S A SCAM
INFORMATION UPDATED September 14, 2017
**EDITOR’S NOTE: We’ve updated this to simply tell you that it was a SCAM and your money is likely gone.
Again, with any of these platforms, CAVEAT EMPTOR, do your own research, and don’t invest more than you can afford to lose.**