fin teck mining is just a scam

[kerry h]

really 50% 450aud is still 225aud...…..prove me wrong,,its not 16.74aud,
well if I brought bitcoin I would not have to sell at the bottom of the market....as I learnt 40 years ago when stocks drop don't sell you wait till they go up again ,hehe
bitcoin is the same I would not sell it ,,I wait till it goes up mybe 20,000usd.
hopefully one day you might understand the idea,might take time have a good think about it ...ps its not hard to work it out

 

[CryptoSurf]

really 50% 450aud is still 225aud...…..prove me wrong,,its not 16.74aud,
well if I brought bitcoin I would not have to sell at the bottom of the market....as I learnt 40 years ago when stocks drop don't sell you wait till they go up again ,hehe
bitcoin is the same I would not sell it ,,I wait till it goes up mybe 20,000usd.
hopefully one day you might understand the idea,might take time have a good think about it ...ps its not hard to work it out

You bought a mining contract during the same period BTC was on a 50% decline. You made $16.47 and you feel you got scammed?

Apparently you flunked both finance and economics (and common sense).

 

[kerry h]

you would have to be a broker,its to hard for you to work it out,, or understand it ,just your fixed mind set..just a hint ,think outside the box..
you have missed the point.

 

[CryptoSurf]

you would have to be a broker,its to hard for you to work it out,, or understand it ,just your fixed mind set..just a hint ,think outside the box..
you have missed the point.

Your point was you made $16.47 during a period when BTC lost approx 50% of its value. Please explain how much you should have made and why. And please explain how much you would have made if you "bought" BTC during that same time frame.

 

[kerry h]

I try and put it in simple English,if I brought bitcoin 6 months ago and price dropped ...1..I do not have to sell it and take a loss ,...2...I leave it in my wallet until price goes to more than I paid for it then I made a profit....3.... because I control the buying and selling of the coins and in my case I am looking for profits not losses...…..
…………………………………………………………………………………………………………………………………………………………………………
about the $450 investment in dollars to mine bitcoin...…...not to buy bitcoin,to mine only
I would expect to get the $450 investment back plus the profit from mining of $16.57...………...total $466.57..aud
…………………………………………………………………………………………………………………..
what you are trying to say is …………..I buy bitcoin and some how mine it...…...and bitcoin drops 50% from $450 to $225 in the mining period...…what you are saying I am intitled to only $225 plus
the amount mined $16.57......even that would be better than I received..............total return $241.57...…….yes that would be better than $16.57

 

[CryptoSurf]

I try and put it in simple English,if I brought bitcoin 6 months ago and price dropped ...1..I do not have to sell it and take a loss ,...2...I leave it in my wallet until price goes to more than I paid for it then I made a profit....3.... because I control the buying and selling of the coins and in my case I am looking for profits not losses...…..
…………………………………………………………………………………………………………………………………………………………………………
about the $450 investment in dollars to mine bitcoin...…...not to buy bitcoin,to mine only
I would expect to get the $450 investment back plus the profit from mining of $16.57...………...total $466.57..aud
…………………………………………………………………………………………………………………..
what you are trying to say is …………..I buy bitcoin and some how mine it...…...and bitcoin drops 50% from $450 to $225 in the mining period...…what you are saying I am intitled to only $225 plus
the amount mined $16.57......even that would be better than I received..............total return $241.57...…….yes that would be better than $16.57

Your initial post wasn't very clear at all. It doesn't appear that English is your native language.

When you said that "I got total return of wait for it 16.74 aud" then one is to assume that was profit above your initial balance.

You're saying that all that is left in your account is 16.74 aud correct?

 

[kerry h]

total return is $16.74, how much clearer could I be....wow wake up …...CORRECT...………..YOU...…. FINELY...….GET...…..IT

 

[CryptoSurf]

total return is $16.74, how much clearer could I be....wow wake up …...CORRECT...………..YOU...…. FINELY...….GET...…..IT

My apologies, I didn't realize i was speaking to someone who was illiterate regarding finance.

FYI: In finance, RETURN is a profit on an investment. It is measured as a percentage of the amount of initial capital invested.

So when you say you had "a total return is $16.74" that would infer you retain your initial investment and made $16.74 profit.

What you experienced is a NET LOSS or a NEGATIVE RETURN

What you should have stated was your initial deposit of $450.00 you currently at a NET LOSS of -$433.43

Looking at your other posts its obvious how you seem to wander into investment schemes that end up taking you're money.

 

[kerry h]

this is the problem with over educated people,they do not understand the majority of people with average education,they are just that highly educated they cant understand the rest of the world so they just keep
shooting there mouth off,,i put you in the 0.00001%who are well educated and could polish a turd with your highly educated tongue...you silver tongue devil
well anyway you are the only person who could not understand it,,you are the only one who complained about it...SO FAR....so I do NOT really warry about the 0.00001%
I KNOW what I got you are the one who could not understand it..not me ..HAVE A NICE DAY