Mirror Trading International

[warrenpridgeon]

with the reverse (i.e. withdrawal) path yes, the middlemen unfortunately (like your luno example) gets very little information from the bank when they receive EFT's in ZA, don't know why we just haven't moved with the times like SEPA payments in Europe where you get the account holder name and all relevant details of who sends you money

anyway, because of this blind-spot, they can be depositing and withdrawing from and to entirely separate bank accounts that may or may not even be in their name and may or may not be with separate banks, the bank and/or regulators will need cooperation from the middlemen to put all the pieces together

I guarantee you very few exchanges care about this level of scrutiny to stop criminal activities

At least luno does KYC and your account is required to be in your name if you want to withdraw ZAR to it.

 

[r00igev@@r]

I'm trying to work out the returns of the various positions in this pyramid scheme given the assumption each person puts in $100.
Its not a compound interest calculation. Is there a ponzi scheme spreadsheet calculator on the web for dummies? Haven't really looked for one but someone should have done it for a generic scheme.

So I've thrown my spreadsheet out the window. There are 4 daily variable calculations per position and it various on where you are in the level and who you have below you. Most Ponzi schemes for dummies assume the singular variable that Madoff had and this has 4. Anycase, based on that it seems at about 4092 below you, you make you initial return back each month.

 

[r00igev@@r]

Cross my palm with some BTC and I'll throw one up using javascript for you

A bottle of Scotch?

 

[NarrowBandFtw]

At least luno does KYC and your account is required to be in your name if you want to withdraw ZAR to it.

I know, I'd count them among the "very few" who care about that level of scrutiny, locally I don't think there are any others to be honest, though I can't prove that

 

[warrenpridgeon]

So I've thrown my spreadsheet out the window. There are 4 daily variable calculations per position and it various on where you are in the level and who you have below you. Most Ponzi schemes for dummies assume the singular variable that Madoff had and this has 4. Anycase, based on that it seems at about 4092 below you, you make you initial return back each month.

I wonder how many the kingpins have under them?
They must be raking in the dough as it appears people keep joining up, meaning more money coming in.

 

[r00igev@@r]

“Morning MTI members.

Just a quick heads up.
Internal transfers have been paused for an hour or two to facilitate the statement run for yesterday's crypto trades.

We'll communicate when we are done.

Have a fantastic day!

MTI Tech Team”

I think they have run out of processing power to transverse the pyramid based on the number of sign ups.

 

[Venator]

Indeed, I see it as well poisoning when one party is disparaged for putting faith / belief above facts while the other party they are compared to actually does the same thing, just with a different "religion"

Anyhoo, didn't mean to derail the thread at all, back to the scum that is MTI

'Tu quoque' is fallacious reasoning.

 

[r00igev@@r]

I wonder how many the kingpins have under them?
They must be raking in the dough as it appears people keep joining up, meaning more money coming in.

Well if a guy with just over 4000 sheep below him based on the Madoff calculation doubles up each month what is the guy with 180000 getting?

 

[Jaco_ftw]

All BTC is transferred from Luno which has done KYC

Just dropping this here to share information.
No need to discuss as it may take the thread off topic.

These are the most popular BTC exchanges in SA one can use to Buy and Sell BTC:
- Luno
- VALR
- Binance

All have KYC in place. They are the largest in terms of registered users, transaction volume and liquidity.

 

[MegaTesla]

So I've thrown my spreadsheet out the window. There are 4 daily variable calculations per position and it various on where you are in the level and who you have below you. Most Ponzi schemes for dummies assume the singular variable that Madoff had and this has 4. Anycase, based on that it seems at about 4092 below you, you make you initial return back each month.

I spoke to someone that signed up about 50 people. He is "making" R100k - R200k a month. Most of that is not because of his own investment, but because one of his downlines invested millions. So the way I understand it is binary bonus depends on amount invested by downlines, not how many downlines you have. And then obviously the levels how deep you earn from them depends on your own investment. If I remember correctly if you have $10000 in the pool you earn "infinite levels" deep.

edit : whoops, you mean if everyone invests the same amount?

 

[NarrowBandFtw]

'Tu quoque' is fallacious reasoning.

Logical fallacy arguments are the lowest form of any argument, but that really is a whole new topic. I don't pray at the altar of the logical fallacy god.

 

[NarrowBandFtw]

Just dropping this here to share information.
No need to discuss as it may take the thread off topic.

These are the most popular BTC exchanges in SA one can use to Buy and Sell BTC:
- Luno
- VALR
- Binance

All have KYC in place. They are the largest in terms of registered users, transaction volume and liquidity.

all have KYC in place, not all on that list have KYT/AML checks in place on top of just KYC

 

[r00igev@@r]

I spoke to someone that signed up about 50 people. He is "making" R100k - R200k a month. Most of that is not because of his own investment, but because one of his downlines invested millions. So the way I understand it is binary bonus depends on amount invested by downlines, not how many downlines you have. And then obviously the levels how deep you earn from them depends on your own investment. If I remember correctly if you have $10000 in the pool you earn "infinite levels" deep.

edit : whoops, you mean if everyone invests the same amount?

Yes, that makes it dramatically quicker if your downline invests more than you. Have you asked this someone how if they put in $100 they get back R100k to R200k per month without it being a ponzi? Bottom line even if you traded tulips at the height of the boom you cannot make that return as profit!
Based on the basic Madoff model there would be about 40 people doubling their money each month as a minimum if they each put in $100.
Now if people put in more than $100, I don't know how to model it. I'll send my degree back by return post and ask them to fail me.

 

[Gajeto]

So, this is my story....
Some months ago, a friend who owed me some money offered to pay it in btc and then suggested I put it into mti. It was a relatively modest amount, for me anyway. And so I did. I've never believed in these type of investments. I was curious. When questions started arising about a week or so ago, I closed my mti account and transferred the proceeds back to my btc wallet. There was no problems doing this. It took less than 48 hours before my btc arrived in my wallet. In the 5 weeks I was invested my btc increased by about 20%.
I still don't believe this is sustainable and I believe a lot of people are going to lose a lot of money when this thing eventually implodes....soon. My advise, do what i did and exit now.

I myself withdrew my BTC since i started reading what these guys are saying... with everything going on with the Texas, fxChoice and FSCA it would actually be quite insane not to withdraw now... Rather be safe than sorry.. unless they are registered with FSCA and have a FSP license i aint going back jack! rather invest in nexo where its being regulated and insured...

 

[D@leW]

“Morning MTI members.

Just a quick heads up.
Internal transfers have been paused for an hour or two to facilitate the statement run for yesterday's crypto trades.

We'll communicate when we are done.

Have a fantastic day!

MTI Tech Team”

Is this usual, or are they maybe getting people used to the idea of the system being offline for periods of time?

 

[D@leW]

Yes, that makes it dramatically quicker if your downline invests more than you. Have you asked this someone how if they put in $100 they get back R100k to R200k per month without it being a ponzi? Bottom line even if you traded tulips at the height of the boom you cannot make that return as profit!
Based on the basic Madoff model there would be about 40 people doubling their money each month as a minimum if they each put in $100.
Now if people put in more than $100, I don't know how to model it. I'll send my degree back by return post and ask them to fail me.

Without good assumptions and data your model will be about as useful as Neil Ferguson's COVID predictions.

 

[D@leW]

I myself withdrew my BTC since i started reading what these guys are saying... with everything going on with the Texas, fxChoice and FSCA it would actually be quite insane not to withdraw now... Rather be safe than sorry.. unless they are registered with FSCA and have a FSP license i aint going back jack! rather invest in nexo where its being regulated and insured...

Go to the casino, put your entire investment on either black or red. Whatever happens leave the casino after one spin. There, I've come up with a safer investment strategy to double your money.

 

[r00igev@@r]

Without good assumptions and data your model will be about as useful as Neil Ferguson's COVID predictions.

Well our heroes at MTI have created a model that beats forex and crypto trading markets so we should let them loose on COVID-19.
But yes, you prove the point which the cult does not understand and that is that there is no transparency.

 

[John Tempus]

So I was under the impression that MTI didn't do the proper KYC stuff.

If the liquidators are coming to your door for your gains from the Ponzi scheme, how do they know your address?

This is a legit issue but if you read the MTI updated(or it might be original) signup page, they do request some personal information that should be enough to find the people who were invested in the scam.

Even if in some hypothetical way there is no way to find the investors the main goal is to have the identifiable MTI cult leaders locked up.

 

[John Tempus]

Just dropping this here to share information.
No need to discuss as it may take the thread off topic.

These are the most popular BTC exchanges in SA one can use to Buy and Sell BTC:
- Luno
- VALR
- Binance

All have KYC in place. They are the largest in terms of registered users, transaction volume and liquidity.

Dont forget localbitcoins who also require a form of KYC now if you do anything above I think $10k in a year so pretty much guaranteed.

There is other avenues to get BTC to ZAR if they really want to such as crypterium debitcard however I have now been trying to verify my crypterium card for over a year and it always get rejected so I don't even know if the card isn't just a scam at this point since I have the card but I cant use it.