Lend us UP to 5BTC with 10% monthly payback + 5% monthly interest.
We can give API access + EMAIL +PASSWORD of the trading account managing the funds as collateral so you can always keep an eye on the funds.
This results in almost 30% risk free profit for the lender. 2 year of data shows the bot can easily handle the interest rate, please download and check for yourself.[/s]
This looks like a promise to repay a loan principle 10% per month + 5% monthly interest no matter if the bot works or not, no?
This is not a loan per-se , it's more like an investment, simply because the only way CryptoSparks is going to repay the loan back to the lender is IF the bot works , if the bot does not work there will be no money left to repay the loan, CryptoSparks then will have one of two options
1-Run away and disappear
2-Borrow more money from other investors/lenders in order to repay the the previous interest, and then if the bot fails again , he will need to borrow more money again and again until he gets to the point of no going back and then he simply run away with whatever money left.
I have been day trading Forex and Crypto for long enough and I can tell you for sure that , anyone who has a working bot , especially a bot that has a similar success rate to the alleged results presented by CryptoSparks would not be looking to promote it on this forum, if he is so certain that the bot works he would sell his wife and kids and trade with 100x leverage for 2-4 weeks and become instantly rich.
CryptoSparks might not be attempting to scam, but he sure is willing to risk people's money without showing them the complete risks and consequences of using a trading bot especially on Bitmex, so this can also be considered unethical and probably illegal in many places.
In the best case scenario CryptoSparks is simply asking for 5BTC loan that has 50/50 chance of repaying, which is risky enough to be flagged for, some of those feedback are not appropriate , but the flag is more right than wrong.
This is the problem of your point of view:
Quote
would sell his wife and kids and trade with 100x leverage for 2-4 weeks and become instantly rich.
If you have a winning strategy, doesn't mean that if you go 100x (people still do that btw?
) you will still be able to apply that exact strategy.I honestly think there's no long term winning strategy that can survive the risk of 100x leverage.
Going back to our bot, leverage is dynamically set based on many factors, there's no way to set a higher static leverage to maximize the ROI.
I get your points about the lending request, but i repeat that it was more of a partnership proposal to the liquidity providers of this forum(the lenders).
Who would take a loan leaving the funds in control of the lender? The proposal should have also marked how using us as service providers instead was a way better option.
The loan would have been repaid monthly from the same money sitting in the trade account. The mathematical and technical impossibility to liquidate the full account, the 2 year of data showing how the avg risk involved per position is only 5% while the avg monthly ROI is 25% , and ultimately considering the scheduled income coming from set commissions, would have EASILY allowed us to pay the 5% monthly interest and the 10% payback, giving the lender a fixed ROI while dumping the market risk on us.
As you correctly pointed out, the lending request became a issue only after the trolls realized how their attacks of "SCAM", "PONZI", "DON'T SEND BTC TO THIS USER' ecc were miserably failing because they didn't even take the time to understand our bulletproof business model.
Lastly i would like to point out that the 100% win rate we are keeping since launch is not alleged, but printed in stone and easily verifiable via api key provided in our thread.