Perpetual Swap on Bitcoin
Discussion
My wife has recently come up with the idea of day trading perpetual swaps of Bitcoin. I’m a conventional value investor and have never touched crypto. She has been recommended by a friend abroad who is apparently making a lot of money on the advice of another individual. It all sounds highly shady to me but my wife is very insistent to the point where it is damaging our marriage.
To make matters worse she insists that she needs to use a downloaded ‘pre-production’ copy of Robinhood for her trading. It’s what they all use and she can’t do it any other way.I have suggested that it could be a hacked copy and they could empty her bank account and steal her financial info but she just says that she can’t miss the opportunity.
I’m certain that this is going to take money from us but also I don’t want to loose my marriage so I’m going with it at the moment. My best guess is that her first trade will be wonderfully successful but the next one will require more money etc…
Am I being over cautious or is this going to ruin us?
To make matters worse she insists that she needs to use a downloaded ‘pre-production’ copy of Robinhood for her trading. It’s what they all use and she can’t do it any other way.I have suggested that it could be a hacked copy and they could empty her bank account and steal her financial info but she just says that she can’t miss the opportunity.
I’m certain that this is going to take money from us but also I don’t want to loose my marriage so I’m going with it at the moment. My best guess is that her first trade will be wonderfully successful but the next one will require more money etc…
Am I being over cautious or is this going to ruin us?
Of course it is a scam.
A relative of mine fell for the same scam, they made profit on the first small investments, but suddenly never heard from them again when she invested £25K.
Remember, they always f
k you the third time.
Why does you wife who clearly knows nothing about Crypto think it is so easy to make money?
How Does a Crypto Asset-Related Scam Work?
A fraudster may claim to place an investor’s money in a proprietary crypto asset trading platform, while promising high, guaranteed returns with little or no risk.
Once the investor invests, often by using a digital currency, the fraudster may stop communicating with the investor. The fraudster may then transfer the investor’s money overseas, making it very difficult for the investor to get it back.
Alternatively, when the investor checks his/her account on the crypto asset trading platform, it may show that the investor has made high returns on the investment; however, the stated trading profits are likely fake.
The fraudster may ask the investor to send more money (claiming that it is needed to pay taxes or other fees), in order for the investor to withdraw non-existent profits made through the proprietary crypto asset trading platform. The fraudsters can then transfer the investor’s money overseas, thus, victimizing the investor all over again.
It's clear they want your wife to install their software so they can show fake high returns and then your wife will want to invest more money.
A relative of mine fell for the same scam, they made profit on the first small investments, but suddenly never heard from them again when she invested £25K.
Remember, they always f
k you the third time.Why does you wife who clearly knows nothing about Crypto think it is so easy to make money?
How Does a Crypto Asset-Related Scam Work?
A fraudster may claim to place an investor’s money in a proprietary crypto asset trading platform, while promising high, guaranteed returns with little or no risk.
Once the investor invests, often by using a digital currency, the fraudster may stop communicating with the investor. The fraudster may then transfer the investor’s money overseas, making it very difficult for the investor to get it back.
Alternatively, when the investor checks his/her account on the crypto asset trading platform, it may show that the investor has made high returns on the investment; however, the stated trading profits are likely fake.
The fraudster may ask the investor to send more money (claiming that it is needed to pay taxes or other fees), in order for the investor to withdraw non-existent profits made through the proprietary crypto asset trading platform. The fraudsters can then transfer the investor’s money overseas, thus, victimizing the investor all over again.
It's clear they want your wife to install their software so they can show fake high returns and then your wife will want to invest more money.
Edited by anonymous-user on Friday 19th August 12:14
lecouvey said:
My wife has recently come up with the idea of day trading perpetual swaps of Bitcoin. I’m a conventional value investor and have never touched crypto. She has been recommended by a friend abroad who is apparently making a lot of money on the advice of another individual. It all sounds highly shady to me but my wife is very insistent to the point where it is damaging our marriage.
To make matters worse she insists that she needs to use a downloaded ‘pre-production’ copy of Robinhood for her trading. It’s what they all use and she can’t do it any other way.I have suggested that it could be a hacked copy and they could empty her bank account and steal her financial info but she just says that she can’t miss the opportunity.
I’m certain that this is going to take money from us but also I don’t want to loose my marriage so I’m going with it at the moment. My best guess is that her first trade will be wonderfully successful but the next one will require more money etc…
Am I being over cautious or is this going to ruin us?
I bolded the red flags. To make matters worse she insists that she needs to use a downloaded ‘pre-production’ copy of Robinhood for her trading. It’s what they all use and she can’t do it any other way.I have suggested that it could be a hacked copy and they could empty her bank account and steal her financial info but she just says that she can’t miss the opportunity.
I’m certain that this is going to take money from us but also I don’t want to loose my marriage so I’m going with it at the moment. My best guess is that her first trade will be wonderfully successful but the next one will require more money etc…
Am I being over cautious or is this going to ruin us?
There are so many convential ways to throw away money. Why do it with something so obviously a scam?
She’s been convinced by her friend that this is a perfect way to make quick money. She comes up with all the classics about being ahead of the curve to make the big money. This is what rich people do not losers like you… The friend isn’t someone I know and she is very cagey. It’s possibly some kind of online romance scam.
I wouldn’t mind too much if it was £5k (that’s the initial investment) to teach her a lesson and keep our family together but I think you’re right that more money will be needed to ‘access her profits’. She likely won’t believe it’s a scam until we’re cleaned out.
I wouldn’t mind too much if it was £5k (that’s the initial investment) to teach her a lesson and keep our family together but I think you’re right that more money will be needed to ‘access her profits’. She likely won’t believe it’s a scam until we’re cleaned out.
lecouvey said:
I wouldn’t mind too much if it was £5k (that’s the initial investment) to teach her a lesson and keep our family together but I think you’re right that more money will be needed to ‘access her profits’. She likely won’t believe it’s a scam until we’re cleaned out.
No, and at this point it will all somehow become your fault.I feel for you, when people are this brainwashed and delusional they will not listen.
lecouvey said:
She’s been convinced by her friend that this is a perfect way to make quick money. She comes up with all the classics about being ahead of the curve to make the big money. This is what rich people do not losers like you… The friend isn’t someone I know and she is very cagey. It’s possibly some kind of online romance scam.
I wouldn’t mind too much if it was £5k (that’s the initial investment) to teach her a lesson and keep our family together but I think you’re right that more money will be needed to ‘access her profits’. She likely won’t believe it’s a scam until we’re cleaned out.
Why does she even need to ask you about this, does she need the "investment" money from you ? What happens if you just say No?I wouldn’t mind too much if it was £5k (that’s the initial investment) to teach her a lesson and keep our family together but I think you’re right that more money will be needed to ‘access her profits’. She likely won’t believe it’s a scam until we’re cleaned out.
Given what you've said I'd be looking to protect your personal assets as much as possible.
Run away - fast. Even appeared on “Ripoff Britain “ on TV earlier this week - friend’s account may itself have been hacked so her friend could be oblivious.
Appreciate your marriage may have other issues for this to be mentioned so sorry about that but this is a scam and you will lose any money invested !
Appreciate your marriage may have other issues for this to be mentioned so sorry about that but this is a scam and you will lose any money invested !
lecouvey said:
My wife has recently come up with the idea of day trading perpetual swaps of Bitcoin. I’m a conventional value investor and have never touched crypto. She has been recommended by a friend abroad who is apparently making a lot of money on the advice of another individual.
I didn't need to read beyond that. Just 'no'.Lose money by conventional means, it's safer
ETA: On a serious note, consider how you can avoid financial damage to yourself if you can't stop her. Can you ring-fence anything, warn banks against transfers, close joint accounts etc?
Edited by Simpo Two on Friday 19th August 13:55
Like so many others, your wife would prefer to focus on the fantasy of what she wants to happen (her getting rich) rather than acknowledge the actual reality of what is happening (her getting scammed). It's nicer, you see.
It's a little like you wanting to hold on to a marriage in which you're being bullied into losing thousands of pounds in an obvious scam by a woman who openly calls you a 'loser'. You'd like to be happily married, so you focus on that fantasy instead, rather than acknowledge the reality.
Religion works in exactly the same way. People would rather focus on the 'living forever in paradise' bit, so they're happy to just believe, rather than apply any critical thinking.
It's human nature I'm afraid, a lot of people live this way. Best of luck (with the scam and the marriage).
It's a little like you wanting to hold on to a marriage in which you're being bullied into losing thousands of pounds in an obvious scam by a woman who openly calls you a 'loser'. You'd like to be happily married, so you focus on that fantasy instead, rather than acknowledge the reality.
Religion works in exactly the same way. People would rather focus on the 'living forever in paradise' bit, so they're happy to just believe, rather than apply any critical thinking.
It's human nature I'm afraid, a lot of people live this way. Best of luck (with the scam and the marriage).
Ask her to read this, or any of the other articles warning of potential scams...
Crypto Scams - Proton
Crypto Scams - Proton
Day trading be it Crypto, Forex or shares never ends well... Timing the market is near on impossible as they say time in the market beats timing the market.
Tell her that the curve has gone BTC is literally at £18-20k range before the curve was buying it in single digit value amounts.
a pre production version of Robinhood sounds to me like someone has created a fake robinhood app which deposits her money directly into their account... especially if its only on Android.
from what you have posted i would be more eager to push into Arbonne or Herbalife...
Tell her that the curve has gone BTC is literally at £18-20k range before the curve was buying it in single digit value amounts.
a pre production version of Robinhood sounds to me like someone has created a fake robinhood app which deposits her money directly into their account... especially if its only on Android.
from what you have posted i would be more eager to push into Arbonne or Herbalife...
Edited by WY86 on Friday 19th August 15:14
Edited by WY86 on Friday 19th August 15:18
FourGears said:
As others have said - scam.
My only suggestion is to ask your wife to invite the friend over so you can talk it all through. If it is affecting your marriage then you both need to find some kind of solution.
Good luck
Read the original message, said friend is conveniently abroad... My only suggestion is to ask your wife to invite the friend over so you can talk it all through. If it is affecting your marriage then you both need to find some kind of solution.
Good luck
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