Quote from: JollyGood on Today at 09:51:11 AM

The 12% APR was quite high and maybe should have raised concerns at the time. I suppose it is the same with the Notes payout. Unfortunately, hindsight comes to mind.

Quote from: _act_ on Today at 09:47:59 AM

When people should have been suspecting Whirlwind to be scam is when they begin anonymity mining or something with 12% APR. I do not know much about it but it is like a way people will leave their bitcoin on on the centralized mixing service. Many people will be affected.

Another way that people can think of is when they begin paykng using note public key to the Whirlwind participants on this forum. Funds are paid from note public key into note public key. It would have been better if it is paid to individual bitcoin addresses on their self hosted wallet.

Indeed with the benefit of hindsight, I do remember raising concerns about the (in my opinion, unsustainable) APR three months ago:

Quote from: NotATether on May 13, 2023, 04:43:30 PM

Quote from: ChuckBuck on May 11, 2023, 05:59:18 PM

Quote from: whirlwindmoney on May 11, 2023, 01:45:49 PM

For example if you have a Note with a balance of 1BTC you will receive 0.00033333BTC every day added to your balance, so 0.01BTC a month in total. After a day your Note balance would be 1.00033333BTC and so on until you withdraw. You could deposit today, wait for a day, withdraw and you would still get to keep the rewards for that day.

So, it mean, monthly interest amount is fixed and it is not cumulative, no compound interest, only 1% per month is the maximum reward for participants.
In fact, the APR at 12% is higher than what we can get at the moment if we compare with banks. But, have you ever thought about applying compound interest? Although it is not very feasible Cheesy

Wouldn't that mean that you'd need to invest for ~8.2 years before you get a 100% ROI?

I'm not quite sure if this will be profitable in the long run. I haven't heard of any mixer that has managed to run for that long.

Would be very pathetic though if they only intended to run this mixer for a few months.