RE: AMFEIX - The First Blockchain Fund Built On Smart Contracts
This is wrong in so many ways!
Also one could appreciate the fact that steeminc derives some add-revenue from such clients, money does not justify all action. There has to be a red line and someone claiming:
AMFEIX claim that previous performance suggests a return of between 10% and 20% per month on your investment
stepped clearly several yards over it.
Everybody that has some trading or investment experience knows that monthly returns of 10% to 20% are impossible to achieve and even if you judge that this is neither a forecast or promise, its clearly the picture amfeix wants to put in your head.
And I am sure you gentlemen know, that this is not possible, too.
So what will you do?
Either you seriously try do do it with trading, long and short (/cash) - based on whatever trading strategy - and you actually believe you have a coin flipping winning streak of 100 tosses heads straight.. then you might be able to show this 10 to 20% monthly return for a full year
or you simply go long any coin and pray that it will double or quadruple over the next month and then the investor gets 80% of the 100% he would have had if he invested directly into the coins.
Both has no value at all for anybody "investing" into your "fund".
How could you have done it in a way that doesn't cross the red line?
Explain your strategy and trading pattern, and then explain why you believe you have an edge over all the other traders. (it could be that you actually have an edge over other traders because of x,y,z..)
But then again you should not point to 10 or 20% monthly returns..
.. you could claim that your overall performance .. due to your edge.. should systematically outperform a basket of crypto currencies or bitcoin...
...these would be by far bold enough claims!
And to anybody here asking not to downvote amfeix post: if not this post, which post should be downvoted at all? Yes.. I get your good intention.. but the first steemians loosing their money in this "fund" instead of purchasing steem and leaving this community will already be enough to render the advertisement money worthless.. not speaking of enraged "investors" calling he SEC and steeminc and the steem community having to bear the consequences...
I doubt that it was a clever decision of steeminc to have a business relationship with amfeix but OK.. this is the blockchain.. its free and self regulating.. hence downvotes and critical feedback are in this case very much justified and necessary...
I absolutely agree with @solarwarrior
Indeed 10-20% rewards every month is not a sustainable business model and it always ends very same way.
It's a typical "hit and run" scenario and I would absolutely advise everyone to be very careful and think twice before investing.
Cheers,
Piotr
I've tested the service: 0.021btc in about 10 days with about 0.5btc invested. Ok, this means nothing, just a testimony of experience.
Dear @oneshot
So you've invested something around 6.5k usd and you received around 250usd worth of BTC after just 10 days?
That is raising enormous red flag. That's like 4% within less than 2 weeks. I cannot think of any legit business model (except of ponzi) that would allow to benefit investors so greately.
Yours
Piotr
The reason for this is Indonesian Law did not allow company to be held by one person only, doesn't matter how much you pay or set up, there will be no room at all for any company to be held by one person, since its a branch of AMFEIX it should not be a problem who is the owner of the branch as long as AMFEIX central issued a legal appointment. The 1st observation is answered by itself, we just obey the rules of Indonesia with no any side agenda or whatsoever. AMFEIX didn't change the registration from UAE we have both and will have more in the future such as AMFEIX Malta. So there has been no change in registration as both are still valid.
It doesn't matter what language the registration is in as long as its regulated (which it is) it shouldn't matter.
Again, this is how Indonesian regulation works, you can't really argue about it actually, the way the government handles things is different, with that capital we can legally do business with any amount of money, we are obeying the Indonesian rule. If for the company deposits we had to pay more we would, but if that amount of paid up capital is enough for us to do business why do we have to put more when we don't get any more benefit from it.
The important thing is we work with btc capital not fiat, and in Indonesia we still don't have any legal paperwork to do business with btc capital, as we continue our business, AMFEIX is on process negotiation with several official government and religious organisations in order to get more legal protection and sense of security for our investors. Due to local regulation that will take time and the right partner to do so. Even for the local company to get approved by OJK takes quite some time and effort to do so, AMFEIX is in the process as we speak.
At AMFEIX we've never compelled people to deposit capital, we are trying to get all the documents and licenses ready at the earliest time possible, but during due time it is investor's self policy to deposit capital or not, we give a lot of proof of work unlike many of the other companies, we are happy to support the decision made by our prospective investors.
Our traders will be made public this month to further improve our transparency. We have done a fund audit which we have seen very few to no other crypto companies do successfully this is very important as this proves all trades are actually being made and increases investor confidence. All BTC managed by AMFEIX has been proven and shown to investors.
We are waiting and preparing our company to have more legal protection than we will announce the credentials for the owner of the company. AMFEIX is ready to reveal everything, when the time is right, and it is needed going to do so. As for how we invest we have shown more transparency than any other company and will continue to do so. AMFEIX is going to be here as one of the leading crypto companies in the near future, we will continue to strive in that path.
THX for the downvote and your copy paste answer that does not fit to any of my points...
... but actually fits very much to what I expected...
They are ridiculous @solarwarrior