Mirror Trading International

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Derik#6 said:
I agree 100%. But the majority of advisors would have warned you against it and said that the risk is too high.

The decision is yours, if your friend phoned you and said you must buy sasol shares and the whole thing planked, would you have been angry at him? It remained your decision.

But ja I agree with you on that point.
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My problem here is those who are actively marketing and pulling others in. If people realise it's a gamble and they approach it that way, fair enough. If people are putting life savings etc in at the behest of friends, that is disastrous.

Earlier in the thread there was a screenshot of a post by MTI encouraging members to disassociate from anyone who didn't want to sign up. The culture isn't one of "let's take a punt". And then there is the blatant deceit by the protagonists, such as Cheri's house above.

Edit: here's the link to the screenshot

Mirror Trading International

Anyone remember BTCGlobal scam? Where an 'expert trader' would trade every day and distribute profits to everyone who was invested? BTCGlobal and MTI sound so similar to me. Quick question....Is the 'Cheri Ward' in those screenshots the same one from BTCGlobal...
mybroadband.co.za mybroadband.co.za
 
Speedster said:
My problem here is those who are actively marketing and pulling others in. If people realise it's a gamble and they approach it that way, fair enough. If people are putting life savings etc in at the behest of friends, that is disastrous.

Earlier in the thread there was a screenshot of a post by MTI encouraging members to disassociate from anyone who didn't want to sign up. The culture isn't one of "let's take a punt". And then there is the blatant deceit by the protagonists, such as Cheri's house above.

Edit: here's the link to the screenshot

Mirror Trading International

Anyone remember BTCGlobal scam? Where an 'expert trader' would trade every day and distribute profits to everyone who was invested? BTCGlobal and MTI sound so similar to me. Quick question....Is the 'Cheri Ward' in those screenshots the same one from BTCGlobal...
mybroadband.co.za mybroadband.co.za
Click to expand...

The difference between "let's take a punt" on Sasol shares or walk into the casino and put in all on red and a ponzi scheme is that ponzis are illegal and the others are not.

The huge issue with these schemes is not so much the people who go "I've got R1 000 000 to play with, lemme chuck R10k in and see"... It's when those people do that, others hear that they got their "rewards" paid out and they are desperate and chuck their last R10K in... and then the scheme crumbles.

Nevermind that that persons R10k probably got paid out to other people who put in R100k. People in these things are effectively stealing from each other and anyone you pull into these schemes and get that sweet signup bonus from... you've actually taken that cash out of their pocket.
 
I'm just thinking, with the borders closed these guys/girls are going to struggle to disappear once the bomb bursts. Steven Twain was a well-crafted pseudo-person so that was easy enough, but Johan, Cheri and their friends haven't exactly been hiding themselves. I wonder if Covid has screwed with their getaway plan.
 
warrenpridgeon said:
The difference between "let's take a punt" on Sasol shares or walk into the casino and put in all on red and a ponzi scheme is that ponzis are illegal and the others are not.

The huge issue with these schemes is not so much the people who go "I've got R1 000 000 to play with, lemme chuck R10k in and see"... It's when those people do that, others hear that they got their "rewards" paid out and they are desperate and chuck their last R10K in... and then the scheme crumbles.

Nevermind that that persons R10k probably got paid out to other people who put in R100k. People in these things are effectively stealing from each other and anyone you pull into these schemes and get that sweet signup bonus from... you've actually taken that cash out of their pocket.
Click to expand...

Legal or not , if they advertised their product similar to those BTC ponzi schemes that is all over the internet and primarily on forum posts on bitcointalk literally label it as "taking a chance" , "This might run dry at the time you deposit" , "You risk losing your entire deposit if you are one of the last depositors" , etc etc.

I hate all ponzi schemes but the difference between those and MTI is that they are quite literally advertising that you are taking a huge risk in hopes of doubling your BTC where MTI is advertising on all fronts like its a safe bet and if you deposit you will just be printing money guaranteed.
 
warrenpridgeon said:
The difference between "let's take a punt" on Sasol shares or walk into the casino and put in all on red and a ponzi scheme is that ponzis are illegal and the others are not.

The huge issue with these schemes is not so much the people who go "I've got R1 000 000 to play with, lemme chuck R10k in and see"... It's when those people do that, others hear that they got their "rewards" paid out and they are desperate and chuck their last R10K in... and then the scheme crumbles.

Nevermind that that persons R10k probably got paid out to other people who put in R100k. People in these things are effectively stealing from each other and anyone you pull into these schemes and get that sweet signup bonus from... you've actually taken that cash out of their pocket.
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Well said. Anyone who is in a position to actively recruit new "members" is on the side that is robbing from Peter to pay Paul.
 
Rum Zacapa said:
By that reasoning as above the bot would be doing around 25% profit per month. What say the experts - is that a common kind of return when forex trading?
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As a peak once in a while sure.

On the regular? Not a bloody chance.
 
Rum Zacapa said:
By that reasoning as above the bot would be doing around 25% profit per month. What say the experts - is that a common kind of return when forex trading?
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It is possible and even higher returns spread out on longer duration then averaged out monthly. On forex markets only it would be much harder but if they were only trading the crypto markets its doable considering I am doing this and more monthly right now but at the same time I am not starting a "Deposit funds and ill make you rich" scheme either.

The main issue is that we are now talking about the absolute best traders in the industry ie. the 0.1% of traders if not even smaller percentage. These traders would also not go around sharing their money printing ability when they could keep 100% to them self and this is where this entire scam falls flat on its face.

They could have operated this trading "thing" more transparent by actually having a product that produce what they claim and building a website where each trader could fund their own trading account and either pay a fee to have access to the bot connecting to their own trading account or have a system in place where MTI takes a % monthly on the gains in the month.

MTI wont do any of that cause ;
1. They have no bot ,
2. That would require actual work to setup even a basic site for clients to manage their own bot that is connected to their own trading account.
3. This will not allow them to vaguely promise random returns because clients would actually see all winning/losing sessions and MTI cant control the narrative this way.
 
SauRoNZA said:
As a peak once in a while sure.

On the regular? Not a bloody chance.
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It is claimed that it did 1.02% profit per day for 200 trading days straight.

John Tempus said:
Legal or not , if they advertised their product similar to those BTC ponzi schemes that is all over the internet and primarily on forum posts on bitcointalk literally label it as "taking a chance" , "This might run dry at the time you deposit" , "You risk losing your entire deposit if you are one of the last depositors" , etc etc.
Click to expand...
I am a local at bitcointalk... I got involved in a bunch of airdrops and signature campaigns... The deep onion people didn't like me so they excluded me (was a running joke in our Telegram group for craptos... lol... -cries because of onion-)

John Tempus said:
I hate all ponzi schemes but the difference between those and MTI is that they are quite literally advertising that you are taking a huge risk in hopes of doubling your BTC where MTI is advertising on all fronts like its a safe bet and if you deposit you will just be printing money guaranteed.
Click to expand...

The people punting on YouTube (and there are many now) are like "this is for information/entertainment purposes and not financial advice"... But then they pitch basically
"This isn't a hijacking, but if when I find myself in a situation that isn't a hijacking but could be because it looks like it might be... I step out of the car"

And these oaks making "FAT bucks" have got $1000 in the platform... really?! If I was SURE that something like this was raking in the money and "worked" I would have ALL my money in there ESPECIALLY if I was shooting YouTube "adverts" to get more people signing up. Do you think $1000 in the back office will pull people in or will $10 000 or $20 000?
 
warrenpridgeon said:
It is claimed that it did 1.02% profit per day for 200 trading days straight.


I am a local at bitcointalk... I got involved in a bunch of airdrops and signature campaigns... The deep onion people didn't like me so they excluded me (was a running joke in our Telegram group for craptos... lol... -cries because of onion-)



The people punting on YouTube (and there are many now) are like "this is for information/entertainment purposes and not financial advice"... But then they pitch basically
"This isn't a hijacking, but if when I find myself in a situation that isn't a hijacking but could be because it looks like it might be... I step out of the car"

And these oaks making "FAT bucks" have got $1000 in the platform... really?! If I was SURE that something like this was raking in the money and "worked" I would have ALL my money in there ESPECIALLY if I was shooting YouTube "adverts" to get more people signing up. Do you think $1000 in the back office will pull people in or will $10 000 or $20 000?
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I am not talking about the double your BTC hijacking channels in my example.

I am literally referencing the double your btc ponzi websites that usually refresh every other day or at least once a week. Some of them either straight double your BTC once there is enough funds coming in after you deposit if there isn't any available and some even do randomized BTC returns, in all these instances I am pretty sure the only guys ever getting a chance to make a profit from this is very small depositors. These "legit" ponzi sites even operate on a fee structure so that with every deposit they take a % as their allocation fee haha and the remaining funds they spew out until it collapse. It is quite an interesting social experiment.

They are setup as a ponzi and make clear from the get go it is a ponzi. Some of them even have a rough indication of how close to collapsing the ponzi might be which is quite hilarious and still people play these games with large sums of BTC at least when I was still monitoring it.


As for the promoters on youtube who in fact made millions from Bitconnect and Onecoin and I suspect every other scam that shows up like crowd1 and MTI is just as guilty as the scam operators themself.

These promoters know they are only getting paid to lure people into the scam and they know the scam could collapse but they drive their pitch on the hype of the scam so when the scam is at full blast they will spend all their time to convince their followers. In a way I find this somewhat of a digital darwinism in action so I hate the promoter and those who buy into it somewhat equally and it just reminds me that if you have no moral values on the internet that you can swindle life changing money from other people by just not giving a damn.
 
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www.forexpeacearmy.com

Ponzi Scheme - Can anyone tell me about My MTI Club? (mirrortradinginternational.com/mymticlub.com)

Problem is your money is on their platform not myfxchoice and the statements not accurate sounds weird to me why cant they give verified results from the broker simple way to solve this add the account to myfxbooks. Until this happens i see it as a scam. Until they show verified accounts, you...
www.forexpeacearmy.com www.forexpeacearmy.com

FX Choice confirming that the trading statements issued by MTI in no way happened on FX Choice.
 
Bandersnatch said:
cointelegraph.com

Major Bitcoin Miner Disappears Along with Millions of Dollars Worth of Bitcoin

Usual website activities of a major Bitcoin miner Hashocean are nowhere to be found, fuelling suggestions that the cloudminer is a scam.
cointelegraph.com cointelegraph.com

Found the comment near the bottom quite interesting.
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Wow just wow it lead me too this

crypto.org.za

Mirror Trading International - is it a scam? - Crypto

Warning! The Texas State Securities Board has issued a cease and desist order to Mirror Trading International to immediately stop offering its service in Texas. The FSCA has also issued a statement about MTI. Mirror Trading International is a multilevel marketing (MLM) investment scheme that...
crypto.org.za crypto.org.za

It lists hashocean as well as something he was involved in
 
Snyper564 said:
Wow just wow it lead me too this

crypto.org.za

Mirror Trading International - is it a scam? - Crypto

Warning! The Texas State Securities Board has issued a cease and desist order to Mirror Trading International to immediately stop offering its service in Texas. The FSCA has also issued a statement about MTI. Mirror Trading International is a multilevel marketing (MLM) investment scheme that...
crypto.org.za crypto.org.za

It lists hashocean as well as something he was involved in
Click to expand...

Johan Steynberg must be one of the richest people on the planet by now after all these scams or is the worse long term scammer in existence. Every single scam that collapse in recent years he seems to be in some way connected and yet he continues to create new scam after new scam. At this point I have to ask myself , is this guy simply creating scam affiliate services where he gets a small slice of the pie or even worse he seems to be also getting shafted when it all collapse every single time lmao.

Something seems really odd with this guy but then again some people just don't know when to stop until they are either dead or in jail.
 
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