Mirror Trading International

[warrenpridgeon]

Oh I can fairly quickly see if someone's reasoning ability is up to scratch or not. Nevertheless, I still reply just in case someone else might read the rebuttal and appreciate the argument.

I'm still amazed at how paranoid people are. Like, they genuinely seem to think that I/we have some deep desire to see them fail and not make any money. It's as though it doesn't even for a moment cross their minds that it's actually the complete opposite - we in fact DON'T want to see them fail and we DON'T want to see them lose money.

Oh well.

My "favourite" defense that gets thrown out:
"Anyone that hasn't invested [sic] in MTI doesn't know how it works and should just keep their comments to themselves"

Um... that's not how it works... I can logically deduce that eating dog turds is going to leave a k@k taste in my mouth... I don't need to actually do so to be able to make a statement that dog turds taste k@k.

Anyone that issues the "you haven't invested so you shut up" defense is beyond help.

 

[adslrouter]

Just something that caught my eye on the Maroela media comments. I assume this person is talking about MTI. If that is the case, then I bring you another red flag. This could then be why people are still investing and reqruiting like crazy as to not miss the change to be part of the scam of a life time.

interesting new turn......hurry up and invest all your money.....we, the founders, are running away soon

 

[PsyWulf]

Just something that caught my eye on the Maroela media comments. I assume this person is talking about MTI. If that is the case, then I bring you another red flag. This could then be why people are still investing and reqruiting like crazy as to not miss the change to be part of the scam of a life time.

Fomo/rushed decision is part of the Conman arsenal

 

[Knight Rider]

Do you think Cheri's strategy is to wait for people to get "tired with MTI".....People like us tired with warning people its a Ponzi, People tired with contributing to this thread and others, press tired with writing articles, authorities tired of being asked to prosecute etc etc

 

[DesertWrangler]

Everyone withdrawing isn't a thing that even a bank or a normal financial institution like Coronation could endure because then they'd have no business.

But they'd last until most of their customers are gone at least. From the dump, it looked as though if roughly 1/3 of MTI's "investors" withdrew what they think they're owed, the "scheme" would not be able to pay out anymore.

Actually, I’m surprised none of the MTI financial whizzkids have pointed out the fractional reserve requirement and the money multiplier effect that the entire banking industry is built upon. For example, SA banks are only required to keep 2.5% reserves (if memory serves) of their deposits.

So technically, if everybody took a run at a bank and withdrew their money, the bank would only be able to honor a fraction of their obligation (at least in the short term). Those of you who watch the news regularly, might remember the situation in Greece a few years ago, where panic related to the financial crash there, resulted in withdrawals being suspended for weeks.

The big difference is that banks have a lot of other assets, and this would be a temporary liquidity issue, not a complete collapse. MTI on the other hand has only asses and no assets, other than the Excel spreadsheet that generates member statements and the Indian support team that oils the bot.

 

[Zuen]

My "favourite" defense that gets thrown out:
"Anyone that hasn't invested [sic] in MTI doesn't know how it works and should just keep their comments to themselves"

Um... that's not how it works... I can logically deduce that eating dog turds is going to leave a k@k taste in my mouth... I don't need to actually do so to be able to make a statement that dog turds taste k@k.

Anyone that issues the "you haven't invested so you shut up" defense is beyond help.

Lower your pitchforks on me this was for educational purposes.

I opened an account with MTI last month, It said you need to deposit a minimum of R1500 within 7 days or else your account will be deleted.

I decided to deposit about R1000 to see if that will cause the deletion of my account or not. So clearly it did not delete my account as I had it open for ~2 weeks before I withdrew my funds.

Every day you get this summary report of how they traded and what you made out of it.

The pdf screenshot I made is a bit cut-off on the right to show the trade profit but you can easily just compare the buy/sell price to see what profit was made.

This is one way for MTI to convince their users that trading is happening.

*sigh*

 

[r00igev@@r]

My "favourite" defense that gets thrown out:
"Anyone that hasn't invested [sic] in MTI doesn't know how it works and should just keep their comments to themselves"

Um... that's not how it works... I can logically deduce that eating dog turds is going to leave a k@k taste in my mouth... I don't need to actually do so to be able to make a statement that dog turds taste k@k.

Anyone that issues the "you haven't invested so you shut up" defense is beyond help.

But have you tired to eat one yet?

 

[LinuxMan]

Wonder how long it will be till it starts tanking, or are people to thick to withdraw.
It amazes me, as long as people get paid they see nothing wrong.
I have stopped trying to save people that don't listen, they can lose it all for all I care.

 

[Tman*]

Do you think Cheri's strategy is to wait for people to get "tired with MTI".....People like us tired with warning people its a Ponzi, People tired with contributing to this thread and others, press tired with writing articles, authorities tired of being asked to prosecute etc etc

As a career criminal she has proven her strategy time and time again;

1. promote ponzi
2. profit
3. when all goes bust, claim innocence & victim
4. repeat

 

[soulie]

my take on this is : a lot of ponzi schemes fold , as with BTC , but did the authorities have a list of all investors at hand with all the info .nope , this time they do , the info cant just disappear its out there , you cant deny it , if you have withdrawn etc you are on the list , nice and easy for the attorneys to pick through , basically if you are involved you are f@#ked , when it comes to the takedown .if you invested after the list you may be missed , but i doubt it somehow .This thing will implode its just a matter of time .Some attorneys are going to be very busy for quite a while sorting out this mess .Unfortunately this time i wont be able to get inside info from the attorneys as with Krion .

 

[w1z4rd]

What type of exit scam do you think MTI are going to run?

The guy with the bitcoin disappeared?
We were hacked?

 

[warrenpridgeon]

What type of exit scam do you think MTI are going to run?

The guy with the bitcoin disappeared?
We were hacked?

Don't give them ideas... lol.

Most likely "the man shut us down cos #jealous" ... It seems that many of the people involved are "anti establishment" so this narrative would "work" well for them...

 

[soulie]

What type of exit scam do you think MTI are going to run?

The guy with the bitcoin disappeared?
We were hacked?

I think they will run it untill the very end then deny all , if it collapses its going to be a nightmare for the authorities to solve , they wont run , the authorities have to be able to prove it was a ponzi and that the members knew it as such .Tax this time because of the hack may be an issue for the investor , denial will be difficult .

 

[warrenpridgeon]

I think they will run it untill the very end then deny all , if it collapses its going to be a nightmare for the authorities to solve , they wont run , the authorities have to be able to prove it was a ponzi and that the members knew it as such .Tax this time because of the hack may be an issue .

Why would Tax be any issue because of the hack/breach/leak?

 

[soulie]

Why would Tax be any issue because of the hack/breach/leak?

Tax may be an issue for the person thats withdrawn/invested , its in black and white for sars to see .

 

[soulie]

If this implodes , the lawyers also wont be a normal practicing law consultant , this requires very specialised training , because its worldwide , maybe different law agencies as well will be called upon .

 

[warrenpridgeon]

Tax may be an issue for the person thats withdrawn/invested , its in black and white for sars to see .

Oh yes. Got you... Definitely, them internal transfers between members also... eish... donations tax etc might come into effect also.

 

[warrenpridgeon]

Did Vuma sort you out yet .Ill delete this shortly

Nope

 

[RandomGeek]

So help a brother out...lets say the Hawks/SARS/some appointed Administrator decides to go after the money. We all know the MTI KYC procedures are a joke, with many accounts not belonging to uniquely identifiable people...where will they get the list of names? Can they go to e.g. Luno with an applicable warrant, and Luno has to provide a full list of names associated with MTI?

 

[soulie]

So help a brother out...lets say the Hawks/SARS/some appointed Administrator decides to go after the money. We all know the MTI KYC procedures are a joke, with many accounts not belonging to uniquely identifiable people...where will they get the list of names? Can they go to e.g. Luno with an applicable warrant, and Luno has to provide a full list of names associated with MTI?

A fairly comprehensive list of members is on the web for most to see.with all transactions.