Bitcoin trading
Discussion
There’s a link on this to Bitcoin trading it seems to be genuine but has anyone had any experience of it ? It looks like a sign up process and then the algorithms work away generating profit which seems too good to be true and something that would be kept under wraps rather than opened out to everyone if it actually worked ?
Where is the catch?
https://profinancenow.com/5-reviews-home-employmen...
Absolutely hocum unfortunately. The Independent ran an article on this in July (‘Fake accounts purporting to be well-known tech figures are 'giving away' free ethereum and other cryptocurrencies’).
Specifically:
- what’s described here is a trading algorithm and nothing to do with Bitcoin or Crytprocurrency
- no trading system has no downside, this one claims you can’t make a loss
- the approach is takes is actually less sophisticated than the methods professional traders use
- if it sounds too good to be true, it is.
Please don’t risk your money. These guys are scammers.
Specifically:
- what’s described here is a trading algorithm and nothing to do with Bitcoin or Crytprocurrency
- no trading system has no downside, this one claims you can’t make a loss
- the approach is takes is actually less sophisticated than the methods professional traders use
- if it sounds too good to be true, it is.
Please don’t risk your money. These guys are scammers.
V6 Pushfit said:
There’s a link on this to Bitcoin trading it seems to be genuine but has anyone had any experience of it ? It looks like a sign up process and then the algorithms work away generating profit which seems too good to be true and something that would be kept under wraps rather than opened out to everyone if it actually worked ?
Where is the catch?
https://profinancenow.com/5-reviews-home-employmen...
Isn’t the catch that the story about Musk is completely fake and the website is fake and that there is no such thing as free money?Where is the catch?
https://profinancenow.com/5-reviews-home-employmen...
It’s just the same people who were posting news that Branson made his money punting binary bets etc.
Even the longest standing pros obliterate themselves dabbling in crypto.
Crypto trading is pure gambling with the potential to strip anyone of infinite amounts of money.
Even the most staid markets can destroy you. Crypto is turbocharged insanity.
And if this 'system' was foolproof why would they bother to advertise it? They would be trillionaires by now, not trawling piece of crap websites.
Crypto trading is pure gambling with the potential to strip anyone of infinite amounts of money.
Even the most staid markets can destroy you. Crypto is turbocharged insanity.
And if this 'system' was foolproof why would they bother to advertise it? They would be trillionaires by now, not trawling piece of crap websites.
I think many of these scams play on a very outdated view of traders as ‘barrow boys’.
These days the dealing floors of the world are run by hugely wealthy firms that fill them with first class degree holders with Maths PhDs who spend 16 hours a day in front of screens setting up automated trades using sophisticated AI algorithms that execute in millionths of a second. I came across a study looking at
using chips that compute with light (vs electrons) as a way of shaving microseconds off how long a trade can be executed... this is not amateur stuff!
So it really is nonsense to think that an amateur can be shown a ‘trick’ or a new company has ‘cracked it’ in a way that delivers any meaningful advantage in trading, whether Fx, equities or Cryptocurrency. Even if some loophole were opened, the opportunity would be spotted and outcompeted in hours. Certainly there would be no time for dodgy companies to set up training courses for amateurs, quite apart from the obvious question of why anyone ever would.
These new scams now seem to invoke the names of billionaires like Elon Musk, I guess to try and give some credibility to the idea that this is possible, but they definitely aren’t dumb enough to waste their money trying to beat the entire world at trading. Many of them actually do believe in redistribution of wealth, which is why they invest in realistic methods of achieving it: education, healthcare, venture philanthropy.
If you know anyone who is tempted by a trading scam, my suggestion is you point them to these slides from the trading algorithms course at Oxford University (not even the advanced course) and reminder them that the people they are competing against to win a trade find this stuff easy:
https://courses.maths.ox.ac.uk/node/91/materials
These days the dealing floors of the world are run by hugely wealthy firms that fill them with first class degree holders with Maths PhDs who spend 16 hours a day in front of screens setting up automated trades using sophisticated AI algorithms that execute in millionths of a second. I came across a study looking at
using chips that compute with light (vs electrons) as a way of shaving microseconds off how long a trade can be executed... this is not amateur stuff!
So it really is nonsense to think that an amateur can be shown a ‘trick’ or a new company has ‘cracked it’ in a way that delivers any meaningful advantage in trading, whether Fx, equities or Cryptocurrency. Even if some loophole were opened, the opportunity would be spotted and outcompeted in hours. Certainly there would be no time for dodgy companies to set up training courses for amateurs, quite apart from the obvious question of why anyone ever would.
These new scams now seem to invoke the names of billionaires like Elon Musk, I guess to try and give some credibility to the idea that this is possible, but they definitely aren’t dumb enough to waste their money trying to beat the entire world at trading. Many of them actually do believe in redistribution of wealth, which is why they invest in realistic methods of achieving it: education, healthcare, venture philanthropy.
If you know anyone who is tempted by a trading scam, my suggestion is you point them to these slides from the trading algorithms course at Oxford University (not even the advanced course) and reminder them that the people they are competing against to win a trade find this stuff easy:
https://courses.maths.ox.ac.uk/node/91/materials
67Dino said:
I think many of these scams play on a very outdated view of traders as ‘barrow boys’.
These days the dealing floors of the world are run by hugely wealthy firms that fill them with first class degree holders with Maths PhDs who spend 16 hours a day in front of screens setting up automated trades using sophisticated AI algorithms that execute in millionths of a second. I came across a study looking at
using chips that compute with light (vs electrons) as a way of shaving microseconds off how long a trade can be executed... this is not amateur stuff!
I agree. Most of the guys I work with have very good numerate degrees, and a good few have doctorates in good, numerate specialities.These days the dealing floors of the world are run by hugely wealthy firms that fill them with first class degree holders with Maths PhDs who spend 16 hours a day in front of screens setting up automated trades using sophisticated AI algorithms that execute in millionths of a second. I came across a study looking at
using chips that compute with light (vs electrons) as a way of shaving microseconds off how long a trade can be executed... this is not amateur stuff!
Not everyone’s like this, of course, as you can still serve customers well in the basic products without it, but we’re a long way from ex market stall owners and red trousered Norah’s who only got the job because their daddy was a client.
V6 Pushfit said:
There’s a link on this to Bitcoin trading it seems to be genuine but has anyone had any experience of it ? It looks like a sign up process and then the algorithms work away generating profit which seems too good to be true and something that would be kept under wraps rather than opened out to everyone if it actually worked ?
Where is the catch?
https://profinancenow.com/5-reviews-home-employmen...
Did you honestly read that article and not think "scam"?Where is the catch?
https://profinancenow.com/5-reviews-home-employmen...
Seriously?
It's pathetically obvious it's a scam.
Edited by 200Plus Club on Monday 6th August 12:57
DonkeyApple said:
But in your opening post you say it seems to look genuine. It would actually be interesting to understand what you thought looked genuine about it?
Are financial scams supposed to look like scams then and not genuine?They don’t in my field, in fact anything but to me. But not to others who don’t deal in property they would seem genuine.
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