Few at work have been doing it, and they are showing a profit at the moment.
Brothers mate and a lad he works with (who happens to be next door neighbours son) are making serious money from it. He's withdrawing £1k a week for the last few weeks, and his pot is still growing. Don't know how long they've been on it, but he's shown us the withdrawals. Hopefully people understand that they could lose what they stick in initially
Yes. Firestickgate.For clarity, you're on about Whitburn fella not me.
Indeed. However, its worth pointing out if everyone only put in bare minimum though the profits would sharp vanish (profits are just coin from others putting in).
Never wrestle with a pig because the pig likes it and you’ll just end up covered in shit.I’d be even more worried that a gang of scammers now has your
A copy of your photo ID
Whatever password you used
Probably your address and national insurance number as well?
So they can engage in all types of further fraud with that.
They’ll soon be on the front of the echo with their best sympathy face.Yes. Firestickgate.
Never wrestle with a pig because the pig likes it and you’ll just end up covered in shit.
If the above and everything else we’ve said hasn’t sunk in yet then it never will.
Get a life man Jesus are you outraged ???
are you being f***ing thick on purpose? thats not what i said or implied. how did you even arrive at that conclusion?
my mate was sat talking to his other mate, and the other mate shows him an app where an 'investment' is making a small percentage 'return' . neither of them know how it works, but the money comes into their banks, so they go with it.
But you know its a ponzi scheme. That's the point, not whether or not you are prepared to lose a bit of coin. It's knowingly taking part in a fraud scheme.
I think people knowingly being complicit will enrage or at the very least disgust some people to varying degrees. I think people that act as money mule's for bank fraud. This is very similar in the morality stakes for me.
I think that falls in to the simpleton bracket mind. Maybe not overall, but at least when it comes to making financial decisions. That and a mixture of greed, in some ratio.
I'm interested in where their morals get in the way of money. Fraud? Fine. Drug dealing? Human trafficking? Are they too far or do they fall in to the 'dog eat dog' mentality?
You can only apply this to people who acknowledge and are aware that this is a fraudulent scam, obviously. But for those that are aware of what it is, I'm interested to see where their line in the send is regarding morals & money.
I've seen the transactions from the COS account to Kraken, and then from Kraken a successful withdrawal. Kraken is just a wallet, no way linked to anything and he'd have no reason to lie. He wasn't trying to get me signed up etcHave you actually seen the bank statements showing the money coming in?
He could also end up behind bars for doing that.I'm totally in your camp on this one. I was told about it around 6 months ago, and warned the lad at the time that it will go tits up. In that 6 months the lads brother has been raking in thousands per week by getting most of his factory on it.
I'm afraid people fighting it out at the bottom are going to take their share when you watch MPs, banks and large institutes fuck the everyday man over for their profit margin. The only heartbreaking thing about is that soon enough they'll be f***ing over their family friends to keep the party going.
The whole system is fucked.
I'm a financial adviser and the wife is a hairdresser.
One of the girls in the salon who's always looking at the next quick money making deal got them all in to help the sign up. All under her as the leader obviously. The wife wasn't in that day and said to them 'I can't afford to lose £200' as that was the pitch 'just put in what you can afford to lose'
She asked what I thought and said 'it's a Ponzi scheme, the only investment that 'guarantees' rates of return are the banks and bonds. They're only giving 5% ish now during this cost of living crisis and They'll drop with inflation'
I googled it within seconds showed it was a scam. She said to some of them 'did you do your research?' 'No' was the reply 'she just showed me how to set it up'
A few of them are panicking now and waiting for the first month to get their money out and leave the imaginary surplus in.
It's really quite scary that people are so gullible and greedy. It's not as if they couldn't have asked the wife before hand what I thought about it. One of the husbands has seen their 'returns' and has put another £800 in. This is despite what she's told them I've said.
The thing is though is that Action Fraud (even though the are shite) and the FCA will already be aware of this. All it’s going to take is for a hand full of pissed off people who’ve lost their money to go huffing off to them - which will happen. They’ll then start investigating the how, why and where’s of it all. Clearly with this one there are a large number of chat groups on it and also as it’s all built on referrals it won’t be too hard to to find out who those further up the chain are if they want too.Tbf Ive made my feelings clear on this, and its clearly a ponzi but some are actually making a few quid, so it's not all imaginary in terms of returns. Also, as this thread has shown, plenty of those in it know exactly what it is, so whilst morally corrupt they aren't being gullible.
I put in £280 initially and have withdrawn £620 so far so whatever happens I've made profit. Will have to wait til Thursday morning for today's withdrawal to come through but if it does I'll have withdrawn £1125 in total. My stepdad got me and some family onto it and we've all at least doubled our investment. I've not bothered trying to rope mates into it as wouldn't wanna be responsible for them risking their money.
Yes it's a Ponzi scheme, but maybe they just want to give something back to the users, and maybe they are actually going to give crypto trading a crack now?Hi everyone is panicking cos of the promotion but not 1 person has thought about what about the money that the take half off every person quantify u not think they could just be giving bit back to the user's yes it's Ponzi scheme but has anybody even seen that they have just renewed the domain and stuff for couple more years it's a gamble and they have put in to start trading crypto currency could just be me but I wouldn't be going to that much hassle if I was planning on pulling the plug
Absolute madness how you think that they’re actually trading crypto and they might be feeling festive and giving back to people for thanksgiving… the domain probably just auto renewed with zero effort on their side.Hi everyone is panicking cos of the promotion but not 1 person has thought about what about the money that the take half off every person quantify u not think they could just be giving bit back to the user's yes it's Ponzi scheme but has anybody even seen that they have just renewed the domain and stuff for couple more years it's a gamble and they have put in to start trading crypto currency could just be me but I wouldn't be going to that much hassle if I was planning on pulling the plug