Post
Topic
Board Games and rounds
Re: MakeBTC.org Pyramid Scheme
by
jmalec
on 02/02/2014, 16:51:52 UTC
Speaking solely for myself, a small, early investor, all of my actions have been recorded properly and I have received my withdrawals as advertised. I have recouped my initial investment and am playing with the house's money, again public record.

I read with concern with beetje2207 and opnoskatt's comments about receipt of shares sold. That said, I wait with interest to read MakeBTC's response, if any. There is usually more to the story and my analysis needs the depth to go along with the length and width. Experience tells me plenty is missing from this specific discussion.

Personally, I find it of concern that beetje2207 and opnoskatt cashiered the bulk of their positions all at immediately as a new process was instituted. In fairness, more so beetje2207 as he had the larger position, thus more to lose. While they are entitled to their analysis and investing style as am I, collectively redistributing over than 13 of a 15 BTC bank in a matched pair of moves is a dicey move especially with new changes in the production software. Using the same percentages would close most hedge funds much less a small project like this. In perspective, 2 of 175 investors made the biggest move. That is a red flag to me.

My personal style would have been 1 or 2 BTC the first bank increasing over the next several banks, spreading the hit out a bit while more importantly ensuring proper operation of the new process prior to entrusting a larger sum to it. But that's my caution speaking.

I also watched with amusement where beetje2207 subsequently reinvested and received a bonus from himself, a move I'm sure was not contemplated by the developers. An easy enough fix  when thought about but easily not anticipated in advance. C'est la vie. At the time, my analysis was he wanted to stop out his liquidation and remain at a lower level. Comments in this thread change that analysis with additional information.

As for me, I plan to monitor the project for potential future profits as well as this board for entertainment along the way.