Oct 1st, 2021 Archives

Advertise
Place your banner here for $150/week or $500/month. Available NOW.
Revolut
Place your banner here for $145/week or $480/month. Available NOW.
Advertise
Place your banner here for $140/week or $460/month. Available NOW.
Advertise
Place your banner here for $135/week or $440/month. Available NOW.

0

Hi guys! It seems the HYIP industry is still floundering over of the lowest points in the last decade. There could be lots of factors contributing to this period of recession, e.g. increased interest into direct investing with cryptocurrencies, the world economic downturn, decreased levels of disposable income from a single individual, other Covid-related issues and so on. A whole other article would be needed on the possible reasons for the HYIP industry’s current state of things, but the most important thing remains focus on when we will see the light at the end of the tunnel.

And the answer to that burning question is that the industry will recover from its current slump when the next leader emerges to offer eagerly participating investors some truly outstanding investment opportunity. And this highly anticipated leader might be just around the corner and waiting to launch at any single day now. You see, over a week ago an admin of some fantastically performed programs that many of my readers enjoyed earning huge profits from contacted me and purchased Premium listing and a three-month advance banner spot (and that I can tell you doesn’t come cheap!) This confirms that the guy is serious about his business and will launch his program after the period of careful planning and preparation to make absolutely sure his new project will become a hit and a thing everyone will be talking about.

While I can’t yet confirm the official date on which the program is launching I expect it to be very soon. That’s why you have to follow MNO on Telegram, Twitter and Facebook, or subscribe for regular articles to be posted to your email you can submit on this page. Secure your spot in the next big money-making opportunity and be the first to know about the next industry giant! You will thank me later – I guarantee you that! And if you have any questions or other requests remember that I’m always happy to reply to your query submitted via this online form, you may also email me directly at abramsonp@gmail.com or chat with me live on Telegram @mnoblog.

Let’s get though to the main article I would like to share my thoughts on today and that is on the risks involved if you want to use cryptocurrency as an investment or indeed just a ways of storing money for later use.

I must say that one of the most remarkable phenomena of the relatively brief history of the internet has been the emergence of digital currency. I mean when you consider the thousands of years that real physical money has been with us, it’s only been eleven years since the first acknowledged commercial business transaction that we know of was made using BitCoin. For the record it was made when a computer programmer managed to convince the manager of a local takeaway to accept BTC as payment. The price was 10,000 BTC and the reward? Two pizzas. Yes, if either party had held on to that “money” it’s almost half a billion dollars at today’s exchange rates!

And that’s what loosely brings me on to the subject of today’s blog post – what are the risks of using cryptocurrency as an investment? When you think about it for a moment no one ever really “invests” in cash. If you’re lucky enough to have a lot of cash it either sits there in your bank account or else becomes the tool that you use to invest elsewhere, but isn’t much of an investment in and by itself. Except people seem to view cryptocurrency as an entirely different proposition. When you see BitCoin daily exchange rates listed in mainstream media plus regular stories about it in your newspaper’s business section then you know it isn’t going away anytime soon despite what some governments and banks might hope.

The three main personal risks to yourself if you are holding on to BitCoin as a means to make real money at a later point by selling it for profit are VOLATILITY, CUSTODY, and FRAUD. Let’s go through them one-by-one and see how they might affect you.

First of all I think something BitCoin is arguably most famous for is volatility. Price swings of 10% in a single day aren’t all that unusual in the cryptocurrency market, going in either direction can both add or erase absolute fortunes from your holding. So if you do invest then you need to be prepared to see the value of currency fluctuate pretty wildly, and accept that it won’t always necessarily be in your favor. There’s even the theoretical risk that the value could fall to zero, which might sound dramatic but that’s what happens when nobody wants what you’re selling. Just recently in the news the UK’s Financial Conduct Authority repeated the same warning they’ve always given to citizens that they should face up to the possibility of losing all their money if they want to play with cryptocurrency. It’s a 100% unregulated market and there is zero investor protection schemes or safety nets if things do go wrong. And if you follow someone else’s bad advice, you have no recourse if they’ve misled or misinformed you.

The second issue is custody. Once you’ve invested in cryptocurrency the next thing you have to figure out is where you’re going to store your coins of choice. Unlike cash or shares, it’s not readily stored with a bank or a stock broker. Most people have traditionally stored their cryptocurrency in so-called digital wallets, but the complexity of managing complicated passwords securely has caught a lot of people out. An interesting and may I add highly disturbing news story I came across recently was that one respected data analysis firm estimates that as much as 140 billion dollars has been left stranded online because the rightful owners of it simply lost or forgot their own passwords. That’s around 20% of the entire supply of BitCoin, pretty much abandoned for no good reason. It’s not like a subscription service or an app where you can always rely on a service provider to help you recover passwords if you haven’t logged in for some time. It’s 100% up to you to keep this safe, and if you fail there is absolutely nothing that anyone else can do to help you out. You do have the option of storing BitCoin with exchangers, but historically these too have been vulnerable to hacking attacks. According to some estimates as much as 500 million dollars was lost last year alone to hackers. In fact you might remember a few years back the scandal around Mt. Gox, a Japanese based company that was at that time the biggest single cryptocurrency exchanger in the world. Mt. Gox announced that approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time. Although 200,000 bitcoins have since been “found”, the reasons for the disappearance—theft, fraud, mismanagement, or a combination of these—were initially unclear. Later evidence presented in April 2015 by a Japanese online security company led them to conclude that most or all of the missing bitcoins were stolen straight out of the Mt. Gox hot cryptocurrency wallet over time, starting from sometime in late 2011.

Finally and I suppose loosely connected to the issue of hacking is that of fraud. At the risk of repeating myself this is a totally unregulated market and there are a lot of bad players out there. I’m not just talking about spending cryptocurrency in HYIPs now, though that would certainly come under the same umbrella. Be on the lookout for people offering to send you cryptocurrency in exchange for some financial transaction or perhaps even fraudulently issue their own cryptocurrency. Because once your money is out of your personal control then you are at the mercy of the other party and have no recourse other than simply hoping for them to return it. And if they don’t, tough luck. Always do thorough research into the cryptocurrency you wish to invest in and crucially the exchangers you are looking to invest with.

I do hope that the above information was useful for you and will help those who are still sitting on the fence or a newbie to the whole cryptocurrency concept. I will try to bring you more articles on BitCoin and other widespread investment opportunities using it as a means of payment in the coming season, but so far thanks for your kind attention.


GET PAID REPORT FOR 01/10/2021

Here is the list of the programs from my monitor that paid me for the last 216 hours:
From MNO Sticky list: –
From MNO Premium list: –
From MNO Standard list: –
From MNO Basic list: AvrioTrade (the first instant payments received).

I’ll hold off from drawing the results of the MNO TalkBack poll today, but rather will invite those who haven’t voted yet to kindly submit their votes. It will only take you a second if you click here and will help us understand more on how you feel on piggybacking in the HYIP industry (if you want to know more about that please refer to this article posted last week). By the way, if you like reading more on HYIP Admins’ Dirty Secrets to educate yourself on many possible pitfalls and psyche of people running online investment programs please refer to this page which contains many articles that will help you tremendously, especially if you’re still a newbie in this business. I’ll be back with all the latest news from the HYIP industry plus the results of the TalkBack poll sometime next week. Stay tuned and thanks for reading MNO – For Money Lovers!

Filed under Cryptocurrencies, Daily News by on . Comment#

PE Recent Posts

Made with an easy to customize WordPress theme • skin by