Mirror Trading International

[NarrowBandFtw]

Oh, while you’re here, how about telling us, how you are moving bitcoin offshore, without applying for the necessary permission from treasury? You do realize that you are contravening SA’s exchange regulations, right?

Exchange Control Regulation 10(1)(c) prohibits the entering into a transaction whereby capital or the right to capital is, without the permission granted by the Treasury

MTI scam aside, this is actually still a gray area, not as clear as you seem to think. From SARB itself:

Crypto assets - South African Reserve Bank

It should also be pointed out that the repatriation to the RSA of value through CAs is not acknowledged as a repatriation of an individual’s SDA and/or individual FCA, due to the nature of CAs and the fact that such transaction is currently not reportable on the FinSurv Reporting system.

Similarly, non-residents who have introduced CAs to RSA for sale locally and who want to transfer the sale proceeds abroad will be unable to do so. The applicable exchange control policy is outlined in section G.(C)(i) of the Currency and Exchanges Manual for Authorised Dealers

Moving fiat in and out, whether by buying crypto abroad or selling crypto here is the "clear" part. Buying local crypto and sending/receiving across borders is very much gray still.

 

[Snyper564]

MTI scam aside, this is actually still a gray area, not as clear as you seem to think. From SARB itself:

Crypto assets - South African Reserve Bank

Moving fiat in and out, whether by buying crypto abroad or selling crypto here is the "clear" part. Buying local crypto and sending/receiving across borders is very much gray still.

You looking at the wrong part of report this is the part that essentially increases your allowances based on the crypto you brought back. There is no way sarb will let you take 11m out bring btc back and bump it up to 11m again. That's what this touches on.

You need to look further down. They are externalising all this crypto

 

[quovadis]

Buying local crypto and sending/receiving across borders is very much gray still.

It’s never local crypto though but to add, if I give someone rands in South Africa in exchange for another currency transferred from their bank account offshore to my bank account offshore it’s problematic.

 

[NarrowBandFtw]

You looking at the wrong part of report this is the part that essentially increases your allowances based on the crypto you brought back. There is no way sarb will let you take 11m out bring btc back and bump it up to 11m again. That's what this touches on.

You need to look further down. They are externalising all this crypto

that goes both ways, repatriating crypto does not restore your allowance, likewise, externalizing crypto after buying it locally does not deplete your allowance

if not due to the regs not being clear on the point then simply in practise as a consequence of being completely unable to audit and stop it

 

[NarrowBandFtw]

It’s never local crypto though but to add, if I give someone rands in South Africa in exchange for another currency transferred from their bank account offshore to my bank account offshore it’s problematic.

hopefully no local exchange is stupid enough to let these f-ers buy from them yes

the fools who deposit money with MTI could be sending locally bought crypto there though

 

[clickingbuttons]

What's interesting is the past stories where the broker gave them usd for the btc they held. What happens in the so called crypto space surely it would remain in btc that narrative would surely change now

A lot of brokers can give you USD based on some BTC spot rate they calculate.

ICMarkets.com uses Skrill.com for the conversion service for example.

As far as I know forex brokers only give FIAT withdrawals, not BTC withdrawals.

This whole MTI story stinks pretty badly tbh...

 

[warrenpridgeon]

hopefully no local exchange is stupid enough to let these f-ers buy from them yes

the fools who deposit money with MTI could be sending locally bought crypto there though

Luno is freezing accounts of members if you report them. So if you know if people using luno to send to mti report them and luno freezes their accounts.

 

[r00igev@@r]

If you have put money in MTI, how dom are you?

I put it to you that you are illogical and have joined the cult of dishonest thieving Gutpa-level scammers.

This is "a company" with funds btc north of some 150k deposit takers, as well as over R2b in total ponzi.

Yet the server they host this mighty business on is located in a dirt cheap hosting environment in Texas named Hostgator. It is a vps based on some $30 backend. The security protection is on a free tier from a cloud CDN. There is no firewall and no WAF. Zilch, niks. Everything these guys have done is as cheap and tacky as the decor in the Saxonwold Shebeen.

This type of setup might be ok for Piet Pompies Loodgieter van Brakpan, but not if you have ploughed your home loan and retirement funds into it.

This may mean nothing to you but this is effectively like going onto the William Nicol bridge at rush hour, taking a dump and expecting no-one to see you! Not only that but you giggle at the armoured fiat cars driving past with guards and loaded shotguns calling them backward rednecks.

And then when MTI is caught by the cops with their pants down on the bridge, you all believe them that it is going to be kewl because they are now going to take a dump in the veld where there is no-one to see them.

As well, BOTs are not fancy new technology. People have been using them to scam for years. Its not unique. Neno over at Advanced Crypto Academy has been using one for yonks. His is the latest and greatest network crypto coffee machine that you can use for $750 a year. Special price. The crypto coffee tastes worse than licking the backside of a Llama.

How dom are you? Take some advice, show Cheri the middle finger and remove you money as the cops have advised. That is you get out of jail free card. If you continue from here onwards, enjoy your orange jump suit.

 

[NarrowBandFtw]

Luno is freezing accounts of members if you report them. So if you know if people using luno to send to mti report them and luno freezes their accounts.

absolutely, will do, not all exchanges will be that responsive though ... it is free money after all even if it comes at the expense of some of your customers

 

[r00igev@@r]

absolutely, will do, not all exchanges will be that responsive though ... it is free money after all even if it comes at the expense of some of your customers

Thrive Int - Official Launch at Thrive Int tickets on Yapsody.

Check Out Thrive Int - Official Launch at Thrive Int. Buy Thrive Int - Official Launch tickets at Yapsody.

thriveint.yapsody.com

Click on contact presenter and see whose name pops up? None other than williebreedt1975@gmail.com That guy is a good start.

Next is basically everyone who goes to the venue in that link. It is a scamming hotspot! The deceased prophet of that spot of planet Earth has been encouraging his flock to put their money into the MTI collection bowl. He actually appeared in his testimonial video kaalgat!

 

[D@leW]

Well I am sure I am not the only person who reported them to the FSCA a couple of months back, so this (along with the other nonsense you wrote) is incorrect.... they would have been summoned to explain to the FSCA, not out of the goodness of their hearts.

And all these magical bots that they keep switching between... flip, should tweet at Warren Buffett... he is missing an opportunity of a lifetime!!!! pfft

And someone tagged the FCSA in FXChoice's announcement on Twitter. It's likely the FCSA monitors their Twitter feed. This idea that the FCSA could only have heard about MTI because MTI approached them has to be one of the more bonkers conspiracy theories I've seen here, and it gets regurgitated by the minions regularly, I expect because it aligns with their confirmation bias so there's no need to even consider if it's plausible.

https://twitter.com/i/web/status/1290945810662907906

 

[r00igev@@r]

Thrive Int - Official Launch at Thrive Int tickets on Yapsody.

Check Out Thrive Int - Official Launch at Thrive Int. Buy Thrive Int - Official Launch tickets at Yapsody.

thriveint.yapsody.com

Click on contact presenter and see whose name pops up? None other than williebreedt1975@gmail.com That guy is a good start.

Next is basically everyone who goes to the venue in that link. It is a scamming hotspot! The deceased prophet of that spot of planet Earth has been encouraging his flock to put their money into the MTI collection bowl. He actually appeared in his testimonial video kaalgat!

Anointing oil and a bit further down the table is MTI.

 

[Venator]

Anointing oil and a bit further down the table is MTI.
View attachment 897990

Sheesh...I've got no time for celestial fairy-tales, but even less time for those who exploit the religious.

 

[r00igev@@r]

If you have put money in MTI, how dom are you?

I put it to you that you are illogical and have joined the cult of dishonest thieving Gutpa-level scammers.

This is "a company" with funds btc north of some 150k deposit takers, as well as over R2b in total ponzi.

Yet the server they host this mighty business on is located in a dirt cheap hosting environment in Texas named Hostgator. It is a vps based on some $30 backend. The security protection is on a free tier from a cloud CDN. There is no firewall and no WAF. Zilch, niks. Everything these guys have done is as cheap and tacky as the decor in the Saxonwold Shebeen.

This type of setup might be ok for Piet Pompies Loodgieter van Brakpan, but not if you have ploughed your home loan and retirement funds into it.

This may mean nothing to you but this is effectively like going onto the William Nicol bridge at rush hour, taking a dump and expecting no-one to see you! Not only that but you giggle at the armoured fiat cars driving past with guards and loaded shotguns calling them backward rednecks.

And then when MTI is caught by the cops with their pants down on the bridge, you all believe them that it is going to be kewl because they are now going to take a dump in the veld where there is no-one to see them.

As well, BOTs are not fancy new technology. People have been using them to scam for years. Its not unique. Neno over at Advanced Crypto Academy has been using one for yonks. His is the latest and greatest network crypto coffee machine that you can use for $750 a year. Special price. The crypto coffee tastes worse than licking the backside of a Llama.

How dom are you? Take some advice, show Cheri the middle finger and remove you money as the cops have advised. That is you get out of jail free card. If you continue from here onwards, enjoy your orange jump suit.

So why does MTI state it is trying to fully co-operate with the South African authorities when they do they not host locally in our own world class data centres? We have Teraco and Hetzner and some other lower tier players.
Is it because they wanted to pull the wool over someone like Louren's eyes? Why would we approach the local authorities if we weren't legit?
Because I wasn't born under a cabbage tree because they are knowingly trying to avoid the local authorities. No local hardware to capture in a cease and desist!
Word wakker, Lourens, die dag word al hoe kakker!!!!

 

[Def-e-nition]

If you have put money in MTI, how dom are you?

I put it to you that you are illogical and have joined the cult of dishonest thieving Gutpa-level scammers.

This is "a company" with funds btc north of some 150k deposit takers, as well as over R2b in total ponzi.

Yet the server they host this mighty business on is located in a dirt cheap hosting environment in Texas named Hostgator. It is a vps based on some $30 backend. The security protection is on a free tier from a cloud CDN. There is no firewall and no WAF. Zilch, niks. Everything these guys have done is as cheap and tacky as the decor in the Saxonwold Shebeen.

This type of setup might be ok for Piet Pompies Loodgieter van Brakpan, but not if you have ploughed your home loan and retirement funds into it.

This may mean nothing to you but this is effectively like going onto the William Nicol bridge at rush hour, taking a dump and expecting no-one to see you! Not only that but you giggle at the armoured fiat cars driving past with guards and loaded shotguns calling them backward rednecks.

And then when MTI is caught by the cops with their pants down on the bridge, you all believe them that it is going to be kewl because they are now going to take a dump in the veld where there is no-one to see them.

As well, BOTs are not fancy new technology. People have been using them to scam for years. Its not unique. Neno over at Advanced Crypto Academy has been using one for yonks. His is the latest and greatest network crypto coffee machine that you can use for $750 a year. Special price. The crypto coffee tastes worse than licking the backside of a Llama.

How dom are you? Take some advice, show Cheri the middle finger and remove you money as the cops have advised. That is you get out of jail free card. If you continue from here onwards, enjoy your orange jump suit.

When mti becomes a book : please offer to write the preface and the back Cover . jirrr . lekker lag ek nou .
Briljant.

 

[r00igev@@r]

Sheesh...I've got no time for celestial fairy-tales, but even less time for those who exploit the religious.

Exodus 20 verse 23:

Do not make any gods to be alongside me; do not make for yourselves gods of silver or gods of gold.

Make yourself gods of bitcoin.

 

[warrenpridgeon]

So why does MTI state it is trying to fully co-operate with the South African authorities when they do they not host locally in our own world class data centres? We have Teraco and Hetzner and some other lower tier players.
Is it because they wanted to pull the wool over someone like Louren's eyes? Why would we approach the local authorities if we weren't legit?
Because I wasn't born under a cabbage tree because they are knowing trying to avoid the local authorities. No local hardware to capture in a cease and desist!
Word wakker, Lourens, die dag word al hoe kakker!!!!

In their terms and conditions is stuff about not violating laws and regulations... But they themselves are not even sticking to basic company regulations as they haven't filed their annual returns... Does that mean they must shut their own accounts? Lol.

Nevermind that support still says "you can sign up people in Texas" even though MTI was given a cease and desist order there and never appealed it. Another broken law. But no... These oaks are transparent and we can trust them.

 

[D@leW]

Normally with crypto trading it’s between crypto’s - this appears as if they’re buying and selling to fiat since the trade doesn’t mention the trade pairs other than the US value and crypto bought/sold. If it was fiat as the base the transaction fees would dwarf their micro profits and there’s no way in hell the exchange is unregulated.

Yes, definitely looks like trading USD with various crypto using CFDs (can't be BTC based because some of the trades list BTC as the instrument). Even if you decide trading crypto with crypto is fine because it's unregulated they aren't just trading crypto. They are buying and selling USD using crypto with BTC as collateral. Profits will be in USD which are then presumably credited as BTC to the trading account (assuming there is a trading account) at whatever USD/BTC rate the (anonymous, unregulated) broker provides.

 

[IndigoIdentity]

MTI never went to the FSCA, they were summoned by the FSCA but keep drinking the coolaid.

Factually correct, as a concerned citizen I had reported them to the FSCA among others a few months back.

 

[r00igev@@r]

When mti becomes a book : please offer to write the preface and the back Cover . jirrr . lekker lag ek nou .
Briljant.

I apologize for maligning the plumber from Brakpan. I should have rather have used the fisherman from Chadsworth and all.
Edit: The pineapple beer brewer from Salt River.
More Edit: Bliksem you guys are sensitive!
The bootleg Nkandla brand ciggi smoker from Stellies.