OK. I think I see what you mean. 40% return is easy, but the referral system is what makes it a MLM/Ponzi and unsustainable.
I’ve also been having withdraw issues over the last month.
Did yours ever come through ?
More BTC/GBP to be made via trading than USI but i’ve only ever managed to get one withdraw from them.
@KSECCrypto, the last payment I got from USI-tech was 30th Jan. I’ll try again tonight. The site was down for “software upgrade” again over the weekend.
I logged in to the website and initiated another withdraw. Looks like my previous withdraw from 4th Feb is still pending, I set-up another withdrawal.
Well, you’re an optimist!
LOL. I’m not actually expecting them to payout, but it doesn’t really matter to me anymore. It’s easy to take these losses after a few months doing crypto, making gains elsewhere it’s just swings and roundabouts.
You have to wait for more people to join the bottom of the pyramid before you can get paid out. New entrants must be slowing down.
I actually got that payout in the end, took well over a month !
However what do you think about the new updates ?
All of the old packages you now can’t use or access ? What crap is that !
I’ve got no packages and no daily return or anything lol nor can I access my btc haha.
"From the old packages you have the following balances. These balances will be available over time as mining income above purchases is available.
The excess mining revenue will go toward paying back remaining balances on BTC packages paid for using the blockchain.
Note: Only packages paid for using the blockchain will be funded.
Just seen this post
was posted here
Their new update
Despite the notice of a risk of total loss in our terms and conditions, we strive not to assign a financial loss on the BTC Packages to ANY CLIENT.
After the successful termination of all BTC Packages, we will undertake the following approach.
All clients who have withdrawn 100 percent or higher (due to payouts) of the deposited amount of their respective purchased BTC Packages are terminated immediately.
Due to the termination of the contractual relationship, there will be no further recoveries or payments for this BTC Package.
Illustration of how the current BTC Package(s) will be reset or stay live until they have reached the break-even point of 100%
All clients who have withdrawn less than 100 percent of the original purchasing price of their BTC Packages will be granted future financial benefits, as demonstrated in the following illustration, so that these BTC-Packages can reach their original purchasing price.
Our goal is to avoid any financial loss for our clients.
THAT was a brilliant read
i wish some of these collapsing schemes would just admit they are Ponzi schemes .
BTC package 2.0 sounds like BitconnectX
i hope you dont have too much money caught up.
Their latest correspondence over the weekend. Don’t have too much money caught up but feeling very stupid to have gotten involved. Talk about a crash course intro crypto and all the sharks with their scams. Evidently, it is novices such as me who get roped into this bs, although suffice to say I’m not a gambler should have stuck to the 'if it sounds to good to be true, it probably is. Certainly don’t like the tone of their second to last paragraph, sounds like an attempt at censorship and a threat to anyone who dares speak negatively of their experience with the,.
USI Tech Update 03.03.2018
As another weekend approaches we want to thank you for your continued patience while also provide you with an update. We trust you have noticed and appreciated the changes occurring in your back office this week. The entire team is working as quickly as possible to progressively update our systems towards being fully operational, and to that end we extend our special thanks to our programming team for all the additional effort they have put in to enable significant progress to occur.
So much has been achieved this week yet we understand there is so much more to complete. Please understand your back office and the data presented there is currently still being migrated and updated so we ask for your further patience as this is completed. As soon as we are complete we will advise you and provide you with a detailed explanation of the data presented, and what is means to you. Most importantly, once the migration is complete, withdrawals for BTC Packs 1.0 will be able to resume. Be assured our team is working hard to make this happen as soon as possible. We are aware how important this is to you.
This week saw the successful introduction of BTC Pack 2.0. We are pleased with the positive response received within the USI Tech community who are appreciating the transparency and sustainability delivered in this product.
TechCoin is moving forward to its Public Release and an update will be provided shortly answering many of the key questions we have received surrounding this and the projects progress.
Sadly we have noted that there are some parties within our business who have misunderstood our clearly stated intentions of ensuring that despite these difficult times we are committed to making the hard decisions to ensure NO ONE loses as a result of their participation in USI-Tech. We have requested your patience while we complete the migration process however we advise we will no longer turn a blind eye to members who make statements that are malicious or defamatory about the company, its members or our leaders. Those that continue to do so should expect their accounts to be terminated and potentially face legal consequences.
Be assured we want to see the business back to normal operations as much as you do and we are doing all within our power to make that happen as quickly as possible. Thank you for your continued patience and understanding, and have a great weekend.
Thanks for posting, great read and yes it pretty much sums it all up. I know so many people who are ‘thinking positively’ and are still putting their faith in this company when the recent communications are nothing but designed to keep stringing people along. I call this false positivism and best to be realistic and call it for what it is, and have acceptance for the fact that anyone who got involved has been scammed. I certainly don’t want to advertise to people how gullible I and others have been and some are still being. I began having doubts and concerns about a month after I got involved, and it seems those concerns were valid however, thought I would sit tight and at least wait it out and get my money back. So silly to agree to a third party hold one’s bitcoin on their behalf for any period of time let alone 140 days! I can see why those with more experience with crypto are saying that anyone stupid enough to get involved in one of these schemes deserves to lost their money however it is a bit harsh as it is novices that get sucked into such things by other novices. I have however, learnt a great deal about the world of crypto and it is unfortunate that these cowboys and many others are giving it such a bad name.
Think it’s safe to say any btc packages that you had previously are gone.
As they’re only if ever going to be returned based on their mining profits etc.
Considering they’re going down the drain they’re not going to have any.
Might be wrong but that’s the way it is looking.
Or buy their new 2.0 packages and get mugged off more and wait a few years to get them haha.
Boy, I was SO close to throwing in a bunch of dosh on this. I was lucky in that the north America ban happened just when I was about to get involved. That’s what prompted me to look beyond the ‘sponsor’ who suggested it to me, and indeed that’s when I discovered Bitcoin pub and began this great journey I’m now on. Sorry to hear of losses from you guys who lost out, I truly am. Anyway, onwards…
So I thought I’d go back and try actually figure out the situation of a bunch of BTC stuck in 1.0 …
and here is the the final email / calcs for my BTC I sent to USI
I have 0.06410000 BTC remaining (Aprox £365)
and I need to reach 0.00775867 BTC Before its converted to 2.0 for withdraw.
However since the new 1.0 to 2.0 conversion are on average am getting returns at 0.00000102 BTC per day …
Currently I have 0.00107469 BTC balance
I would have to wait on average of 6,552 Days ! To just get about £44 BTC to be able to withdraw all of my £365 worth of BTC !! That’s 17.95 years ffs !