BITCOIN

Adyinvestment

BTCGrey said:

Hi all - So, I have made a cataclysmic mistake and somehow I was taken in by all of this when someone "promoted" it to me as an investment of £200.00.

I did have some wariness to it but at the same time there was a bit of confidence to at least dipping my toe in it. 

I made my £200.00 "investment" through the initial company, but then the funds were transferred out immediately to one of the trading platforms. I spoke on the phone to the people who guided through the investment processes, but on one of their suggestions it there was quite a big negative-dip on the balance. They tried to reassure this would come good, but this is when it dawned on me that yes something was definitely amiss.

I stopped all trades, losing out probably around £50.00 on the investments. I went to withdraw using their website initially to my payment card but this was eventually "rejected" after a few days, claiming they can only withdraw to Bitcoin Wallets. I have had a very brief search about these Bitcoin Wallets in a vain effort to try and see if I can at least withdraw back to my payment card but this is were reality is dawning on me that I may have lost this entire lot.

Some of the websites offering this service only seem to do it as a "charge" service, so in the end I could be putting in further cash (With risk) without guarantee of any recompense. I am thankful it was only this miniscule amount to dip my toe in - But after being bitten this is something I would avoid but hopefully I can get some outcome on this.

Check out this recent thread - seem to be the exact same position (and amount) as you

Crypto experts — MoneySavingExpert Forum

Cus

When people think about how much money they can make on crypto investing, or how they can innovate a crypto related business that will make them financially successful do they think of that amount in crypto or fiat?

Thrugelmir

Cus said:

When people think about how much money they can make on crypto investing, or how they can innovate a crypto related business that will make them financially successful do they think of that amount in crypto or fiat?

Many moons ago. An ex girlfriends father ran an exotic car business. Recall one transaction he did. Where a nearly new Lotus Elite was exchanged for a swimming pool in the back garden. Value is in the eye of the beholder. 

Scottex99

Cus said:

When people think about how much money they can make on crypto investing, or how they can innovate a crypto related business that will make them financially successful do they think of that amount in crypto or fiat?

Either, both

Malthusian

BTCGrey said:

I stopped all trades, losing out probably around £50.00 on the investments. I went to withdraw using their website initially to my payment card but this was eventually "rejected" after a few days, claiming they can only withdraw to Bitcoin Wallets. I have had a very brief search about these Bitcoin Wallets in a vain effort to try and see if I can at least withdraw back to my payment card but this is were reality is dawning on me that I may have lost this entire lot.

You mention a payment card: if it is a credit card you should make a "section 75 claim" and if it is a debit card you should make a "chargeback". Chargebacks are less likely to succeed as refunds depend on the card issuer's own policies while section 75 claims are statutory consumer law. Either way, you tell the card issuer that you paid for cryptocurrency but it has not been delivered as it was a scam. There is a good chance they will reject the claim as "investment / gambling losses" - if so you should push back as paying for cryptocurrency and never receiving it is not the same thing as buying some cryptocurrency, receiving it and losing money on it.

Otherwise your £200 is gone. Walk away and change your email address and phone number as you are on a suckers list, and could otherwise get scammed again in the future.

If anyone claims they can get your £200 back it is a scam.

bugbyte_2

Malthusian said:

BTCGrey said:

I stopped all trades, losing out probably around £50.00 on the investments. I went to withdraw using their website initially to my payment card but this was eventually "rejected" after a few days, claiming they can only withdraw to Bitcoin Wallets. I have had a very brief search about these Bitcoin Wallets in a vain effort to try and see if I can at least withdraw back to my payment card but this is were reality is dawning on me that I may have lost this entire lot.

You mention a payment card: if it is a credit card you should make a "section 75 claim" and if it is a debit card you should make a "chargeback". Chargebacks are less likely to succeed as refunds depend on the card issuer's own policies while section 75 claims are statutory consumer law. Either way, you tell the card issuer that you paid for cryptocurrency but it has not been delivered as it was a scam. There is a good chance they will reject the claim as "investment / gambling losses" - if so you should push back as paying for cryptocurrency and never receiving it is not the same thing as buying some cryptocurrency, receiving it and losing money on it.

Otherwise your £200 is gone. Walk away and change your email address and phone number as you are on a suckers list, and could otherwise get scammed again in the future.

If anyone claims they can get your £200 back it is a scam.

Feel sorry for BTCGrey, but doesn't using the rights and protections of government and the Fiat banking system kind of fly in the face of the whole 'government cant see what I'm doing' philosophy? If we did all move over to Cripto who would pay for these protections, or health or education for that matter?

Malthusian

bugbyte_2 said:

Feel sorry for BTCGrey, but doesn't using the rights and protections of government and the Fiat banking system kind of fly in the face of the whole 'government cant see what I'm doing' philosophy? If we did all move over to Cripto who would pay for these protections, or health or education for that matter?

If we all moved over to crypto there would be no scammers because everyone would be rich bro.

Nobody will need to know the square of the hypotenuse or amo amas amat unless it's their seed phrase.

Eco_Miser

Malthusian said:

bugbyte_2 said:

Feel sorry for BTCGrey, but doesn't using the rights and protections of government and the Fiat banking system kind of fly in the face of the whole 'government cant see what I'm doing' philosophy? If we did all move over to Cripto who would pay for these protections, or health or education for that matter?

If we all moved over to crypto there would be no scammers because everyone would be rich bro.

Nobody will need to know the square of the hypotenuse or amo amas amat unless it's their seed phrase.

But would one need to amass ammo on a mat (with a square hypotenuse?) to keep those riches?

adindas

Ohhh Bitcoin and especially, Ethereum, nice candle lit show that will lit your pocket and might lit but could also burn your pension pot ...

I will treat these cryptos as my pension as I will not sell it, only add them when there is significant dip on the strong resistance level ...

And the comment of value creation on this thread ? Well, value is in the eye of their beholders and you could only appreciate the value creation if you keep learning an open your mind to something new, learning what they are doing and what they could do in the future.
The vidoes that I have posted previoulsy explain a lot of things coming from people who know well what they are talking about and not from random people on the internet.

And when coming to disruptive innovarion in technology such as Cryptos, Block Chain, it is not a good idea to refer to Warren Buffet and/or Charlie Munger for the reasons that have been explained in the previous post in this thread.

Scottex99

Crazy bullish long term obvs but not sure we won't see a dip after this recent pumping. Enjoying the ride anyway.

NFTs going mad too, just paid 1 ETH for some animated video of a rabbit haha.

This could be a good watch for a few: https://www.youtube.com/watch?v=3Uh0RcuaSJI&t=10s I actually finished Black Swan recently, wont pretend that I could follow it all and wasn't aware that Taleb was in the "going to 0" camp either! Good read though. The video covers some of the main reasons for the value, and the diff between store of value, unit of account, use as a currency etc.  ETH upgrade went through without a hiccup which paves the way for a few others, ETH 2,0 and potentially it being deflationary.

BTC 100k, ETH 10k, 

LFG