Mirror Trading International

[Wary GOM]

I am also new to crypto having been interested in fiat forex previously, so please excuse this question. From reading what I think I understand of blockchains and about the Twitter hack and a post on the forum some while back , I have the idea that it is possible to track movement of bitcoin from wallets. Surely that means that the authorities could track the movement of a new "investor's" to whatever wallets the top guns in MTI are using? Or am I completely wrong.

 

[Bandersnatch]

There was a time briefly where you could buy on Bitstamp with a credit card (and related charges) move to Luno and sell it and have your money back with around 7.5% profit in a 15 minutes. Although Luno didn't pay out real time then. Oh what fun we had.

 

[Bandersnatch]

I am also new to crypto having been interested in fiat forex previously, so please excuse this question. From reading what I think I understand of blockchains and about the Twitter hack and a post on the forum some while back , I have the idea that it is possible to track movement of bitcoin from wallets. Surely that means that the authorities could track the movement of a new "investor's" to whatever wallets the top guns in MTI are using? Or am I completely wrong.

They can be tracked but a clever operator will be able to obfuscate the trail quite well. You can also move in and out of other crypto's like Monero to reduce traceability. The whole point though is that every transaction is on teh blockchain.

 

[NarrowBandFtw]

Correct although arbitrage is minimal nowadays.

that's my understanding as well, never played that game so I don't have direct experience

but I know that opportunities come around from time to time e.g. early last year when Malaysia regulated and officially "unbanned" crypto you could pick up MYRBTC on the cheap initially and would have made a handy profit by selling it on a more liquid market

the market normalised quickly though ... at the moment I've seen some arbitrage potential in GBPBTC vs USDBTC or even ZARBTC, but I don't know if it is significant enough to still be in the black if you need an on-chain send to fund either side

 

[newby_investor]

I am also new to crypto having been interested in fiat forex previously, so please excuse this question. From reading what I think I understand of blockchains and about the Twitter hack and a post on the forum some while back , I have the idea that it is possible to track movement of bitcoin from wallets. Surely that means that the authorities could track the movement of a new "investor's" to whatever wallets the top guns in MTI are using? Or am I completely wrong.

I think that's true, but even if you know what's in the bitcoin wallet there may be little you can do about it.

If the investigation finds out that they have a bazillion rands in an FNB account, then they can order FNB to freeze the account and they can seize the proceeds.

But the whole idea behind "teh blockchain" is that there's no central authority and there's a fair amount of plausible deniability, i.e. they can say "that's not my wallet" and it would be difficult to prove otherwise. So getting the money back would (in my mind) be nigh on impossible even if you can nail the thieves.

At least that's my understanding.

 

[Venator]

I am also new to crypto having been interested in fiat forex previously, so please excuse this question. From reading what I think I understand of blockchains and about the Twitter hack and a post on the forum some while back , I have the idea that it is possible to track movement of bitcoin from wallets. Surely that means that the authorities could track the movement of a new "investor's" to whatever wallets the top guns in MTI are using? Or am I completely wrong.

They can be tracked but a clever operator will be able to obfuscate the trail quite well. You can also move in and out of other crypto's like Monero to reduce traceability. The whole point though is that every transaction is on teh blockchain.

I think that's true, but even if you know what's in the bitcoin wallet there may be little you can do about it.

If the investigation finds out that they have a bazillion rands in an FNB account, then they can order FNB to freeze the account and they can seize the proceeds.

But the whole idea behind "teh blockchain" is that there's no central authority and there's a fair amount of plausible deniability, i.e. they can say "that's not my wallet" and it would be difficult to prove otherwise. So getting the money back would (in my mind) be nigh on impossible even if you can nail the thieves.

At least that's my understanding.

Correct, it absolutely can be traced.

As I showed in one of my posts (I think it was on perhaps page 97, or somewhere around there), I could trace associations between known MTI wallets and at least 2 other wallets which have been flagged over the last 2 or so years as being scam wallets as well as even being linked to an apparent terrorist cell. Those same 2 addresses were also found to currently be in use on another scam on Facebook. This indicated that these 2 wallets may be part of a "tumbling" operation which is specifically used to obscure the route of the transaction. So yes, it can be traced, but it makes it significantly more difficult once it gets put through a tumbler as there's just so much more data to sift through.

Heck, there's perhaps even a chance that MTI itself could be a tumbler...who knows?

 

[Wary GOM]

Correct, it absolutely can be traced.

As I showed in one of my posts (I think it was on perhaps page 97, or somewhere around there), I could trace associations between known MTI wallets and at least 2 other wallets which have been flagged over the last 2 or so years as being scam wallets as well as even being linked to an apparent terrorist cell. Those same 2 addresses were also found to currently be in use on another scam on Facebook. This indicated that these 2 wallets may be part of a "tumbling" operation which is specifically used to obscure the route of the transaction. So yes, it can be traced, but it makes it significantly more difficult once it gets put through a tumbler as there's just so much more data to sift through.

Heck, there's perhaps even a chance that MTI itself could be a tumbler...who knows?

Thanks, Venator. It was your post that I remembered giving a really detailed network.

 

[Bandersnatch]

that's my understanding as well, never played that game so I don't have direct experience

but I know that opportunities come around from time to time e.g. early last year when Malaysia regulated and officially "unbanned" crypto you could pick up MYRBTC on the cheap initially and would have made a handy profit by selling it on a more liquid market

the market normalised quickly though ... at the moment I've seen some arbitrage potential in GBPBTC vs USDBTC or even ZARBTC, but I don't know if it is significant enough to still be in the black if you need an on-chain send to fund either side

Bitstamp / Luno is running at 5% currently but card fees will eat that up.

 

[quovadis]

Correct, it absolutely can be traced.

Not really. If you use an exchange or a service like changelly it can be obfuscated to the point that it could be untraceable especially if varying amounts are moved/exchanged/traded.

 

[NarrowBandFtw]

Not really. If you use an exchange or a service like changelly it can be obfuscated to the point that it could be untraceable especially if varying amounts are moved/exchanged/traded.

and if you use services like Chainalysis that trail is put back together again fairly easily, also keep in mind that exchanges are increasingly needing to prove to regulators that they are on the up-and-up, most exchanges will readily cooperate with law enforcement if asked / ordered to do so

besides, what you are talking about requires a level of sophistication that I kinda doubt the bible thumping idiots who run MTI actually possess

I wouldn't try BTC tumbler style of obfuscation if I really wanted something to be untraceable

 

[aofafrica]

Let's not let this thread become an instruction manual for hiding the proceeds of illicit activity (Like MTI "investing") please.

 

[IndigoIdentity]

So these numb-nuts heading up MTI must certainly realise that the jig will be up pretty soon. They know it is a scam even if the lemmings don't. They also know that the FSCA and various other authorities are on to them, and I'd imagine that they can't seriously believe that they can carry this on for much longer. So why are they still taking deposits?

They need the deposits to keep things afloat, to me it seems that the move to the “cryptobot” and lesser but similarly amazing returns being offered could In fact be due to how there would be less people coming up to “invest” in MTI than before all the publicity and warning...

My theory is that the piggy bank is running dry so they are just creating ways to drag this out for as long as needed for them to be able to execute on their “safe” exit.

 

[Bandersnatch]

They need the deposits to keep things afloat, to me it seems that the move to the “cryptobot” and lesser but similarly amazing returns being offered could In fact be due to how there would be less people coming up to “invest” in MTI than before all the publicity and warning...

My theory is that the piggy bank is running dry so they are just creating ways to drag this out for as long as needed for them to be able to execute on their “safe” exit.

From what I've heard it's doing much better...

 

[D@leW]

I think that's true, but even if you know what's in the bitcoin wallet there may be little you can do about it.

If the investigation finds out that they have a bazillion rands in an FNB account, then they can order FNB to freeze the account and they can seize the proceeds.

But the whole idea behind "teh blockchain" is that there's no central authority and there's a fair amount of plausible deniability, i.e. they can say "that's not my wallet" and it would be difficult to prove otherwise. So getting the money back would (in my mind) be nigh on impossible even if you can nail the thieves.

At least that's my understanding.

It looks like one can fairly easily track regular member deposits and withdrawals, but the surplus appears to enter a tumbler and essentially becomes impossible to track with a reason degree of certainty. Some of it may even come back into the main pool to create the illusion of more deposits or simply to pay out members if withdrawals exceed deposits for a bit. Tumbling is sort of the bitcoin equivalent of money laundering because it comes out "clean" (i.e. not provable that it's linked to any specific illegal activity). You then just need to convert it to real currency in a jurisdiction that doesn't ask difficult question like where you got it from or ask you to pay tax on the earnings.

 

[Blowthewhistle]

Trading bot is on fire it seems

 

[Snyper564]

Trading bot is on fire it seems

nothing stops neno

 

[NarrowBandFtw]

Let's not let this thread become an instruction manual for hiding the proceeds of illicit activity (Like MTI "investing") please.

amen, note I specifically did not mention methods that are more likely to work, will leave it at that

 

[Venator]

Trading bot is on fire it seems

Lol, they went from an already ridiculous average daily profit of 0.4%, and now went full batsh*t to 2.2%.
Make no mistake, these guys understand and are fully exploiting that fear-of-missing-out in people's psychology.

C'mon, gamble a little longer, the reward is getting much greater.

 

[Snyper564]

any trading statements?

 

[Blowthewhistle]

nothing stops neno

Interested in the Q & A zoom link with the one and only JS tonight 7pm?