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#1 » by ItuGlobal (β3096) » April 11th, 2017, 11:51 am

My master invested in Bitcoin online without telling me. He got a small return, and then put more and more money. The website has gone offline since, and the “more” money he pumped into it has been lost. There’s no-one to call.

A lady in our church invested in Bitcoin. She got some money initially and invested more money. Till now, she’s yet to get anything back.

An online friend sent hundreds of dollars to invest in Bitcoin and he later found out that he sent money to scammers.

Internet criminals cannot be traced.

Who make money from Bitcoin investments?
Answer: Scammer and organizers of Ponzi scheme using Bitcoin profits to lure people.

Exchangers who buy low and sell high also make money.

What about Bitcoin mining?
Bitcoin mining involves validating transactions and providing security for the public ledger, known as the blockchain. This process requires extremely powerful and expensive computer equipment. The mining scams typically involve orders for equipment that are paid for in advance and never delivered.

Even when if it’s delivered, you discover that the mining equipment is rubbish. If it’s easy to mine Bitcoin and make money, everyone would be doing it.

Aren’t there legitimate ways to make money from Bitcoin?
Answer: There are only two ways I know where you can make money from Bitcoin.

You can buy Bitcoin and hold it forever, hoping to make money only if price of Bitcoin goes upwards. If price declines, you lose money. If Bitcoin disappears, your money disappears. Period.

You can also make money through Bitcoin by actively trading it. You can speculate on the direction of the market – whether up or down. You can make money or lose money by doing that. There are some money managers who are also investing in Bitcoin or trading it; and they can do that in your behalf. But note that you can lose part of, or all your money.

Contrary to what some money managers may tell you, there are no guarantees in speculation.

Anything else?
The only two ways to make money from Bitcoin have been mentioned above. Any other things pertaining to Bitcoin investments are scam.

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