Hello everyone! In what’s been, to put it mildly, a slow couple of weeks in the HYIP industry it’s becoming more necessary than ever before for admins to really set their programs apart from the rest, to make it unique and memorable in order to make it a success. One admin experienced enough to follow this formula is Joshua from the recently launched long term program BTCBankGroup, and so tonight I’m pleased to have the following interview with him that I received earlier today. It’s as good a way as any to start the weekend I suppose, and apart from talking us through BTCBankGroup itself Joshua also has some interesting thoughts on the wider world of online investing which I hope you enjoy reading as much as I did. On first appearance it might look as if BTCBankGroup is a run of the mill low ROI program, with its one investment plan offering 1% daily forever, and your principal (or part of it) back anytime. To find out how it’s organized a little differently you will have to check out my original review of the program which was first published on MNO here, but first let’s see what Joshua has to say about it all and whether you like it or not.
“1. Hi Joshua, please introduce yourself to the readers of MNO and tell us a bit about your own involvement in BTCBankGroup. Is this your first online venture? What other experience do you have in this Industry?
Hi Paul. I’m Joshua Archer, the director and website administrator of BTCBankGroup. I manage the day to day operations of the website, including customer support and other aspects of the site such as payments and withdrawals. This is the first online venture where I have played such a pivotal role, however this isn’t the first time that I have been involved in an online enterprise. As an early adopter of Bitcoin, I was a co-admin of a small Bitcoin exchange operation, however I am no longer part of that company. My knowledge and experience with Bitcoin has allowed me to develop BTCBankGroup into the profitable investment that it is today.
2. Can you also give us some background history on BTCBankGroup? Why did you decide to open your own program and what are you expecting to achieve by this? Are you alone or do you have a business partner or assistant?
The BTCBankGroup was conceived after myself and my partner Ian realized that there were very few ways to invest Bitcoins and profit. While Bitcoin users had traditionally tried to profit through speculation of the currency, as well as through the large capital increases that have occurred over the past year, there has been a limited number of true Bitcoin investments. We sought to change that, and created the BTCBankGroup.
3. What are the plans you are offering investors? What are the minimum and maximum amounts to spend? What payment processors are you currently dealing with? What is the payment schedule, ie how long from the moment I request a payment do I need to wait before actually receiving it?
We currently have one plan, which pays 1% daily on all balances. The minimums are $20 or 0.5 Bitcoins, and we currently have no deposit maximums. We accept Bitcoin (our primary payment processor), as well as Perfect Money, HD-Money, Solid Trust Pay and Egopay. Withdrawals are processed within 24 hours.
4. In light of the recent closure of LibertyReserve a lot of similar online businesses to yours have struggled to survive. What is your opinion of that event and how have you managed to cope with BTCBankGroup? I also see that you have some alternatives like HD-Money which are perhaps not so well known among the typical online investor. What can you tell us about them, the process of funding and withdrawing, their dependability, and if you think it possible to eventually take the place of LR?
As you know, our main claim to fame is that we are based around Bitcoin. As such, we like to encourage all investors to invest using Bitcoin, rather than centralized payment processors such as HD-Money. That being said, we do understand that there are often difficulties when it comes to Bitcoin, which is why we also accept some of the mainstream centralized e-currencies. We like HD-Money because it is easy to fund and withdraw, and the fees are reasonable. Solid Trust Pay and Egopay are accepted due to their popularity and the simplicity of funding/withdrawing, however their high fees are somewhat frustrating.
5. By allowing your members to withdraw any part of their principal, up to 100%, at any time, don’t you feel that makes the cash flow too unpredictable and therefore could have a negative affect on the stability of BTCBankGroup? I mean, what do you think would happen if everyone decided to look for all of their money back at the same time? Or if more people leave than join?
I don’t see that as being a major issue.
6. Tell us in as much detail as possible about the security features of BTCBankGroup. Are you on a dedicated server? I said in my original review that it was unclear what measures you have taken to protect the program from DDoS attacks and malicious hackers. So can you clarify that for us now?
I apologize for the confusion. We are hosted on a dedicated server that has third party DDOS protection. We are currently in the process of switching to an offshore server that offers a higher level of DDOS protection. When that process is complete we will provide more details via a newsletter.
7. What about the script? Where did you get it from, is it licensed, and why do you feel it’s the best option for you as an admin and for the members who join?
The script that BTCBankGroup uses is a semi-customized script created by a popular hyip programmer. The particular programmer that created it has experience building custom hyips. We hate the idea of programs that use generic scripts such as Goldcoders. Any serious investment would not use some “out of the box” generic script to operate their website.
8. What advertising strategy are you using to further promote BTCBankGroup among potential new investors? Are you happy with the level of support offered by existing members?
When we first launched, we created a massive advertising strategy that included the Top banner at Talkgold, banners at other major forums, listings on numerous monitors, and a premium listing with yourself. We have to say that we were surprised at the current state of the online investing community, as there was very little response to any of our advertising. In fact, I think it would be wise to take a moment to point out that Talkgold advertising is possibly the biggest waste of money out there. Listings on small monitors actually ended up attracting more members than 2 weeks of the massive Talkgold banner advertisements. As far as I’m concerned, Talkgold is dead.
At present we are continuing with an integrated marketing strategy that includes listings on monitors and occasional advertisements within the Bitcoin community.
9. What about the success of the program overall so far? Are you pleased with the level of growth to date? Can you give us any statistics on the amount of members and the total amount deposited? What are your expectations over the coming months?
Generally speaking, I’m a little surprised with the lack of users that have joined thus far. We have been growing steadily, and that growth is continuing, however I was very shocked at the overall state of the online investing industry.
10. What kind of customer support do you offer members? What is the best way to contact you if we have any questions about the program?
The best way to contact us is via our internal messaging system. The messages in the system are checked at least every 12 hours, including on weekends. Alternatively, we can be reached via e-mail and fax.
11. With so many new programs coming online every day, what would be the one thing you would say to investors who are still undecided? What are the benefits of joining BTCBankGroup over any other program?
BTCBankGroup is unique, and entirely different from anything you’ve ever dealt with. It is the first time that a modern HYIP is accepting Bitcoin, and we see it as a pioneer in the hyip community. Further to that, the profits from BTCBankGroup are reasonable, stable and we allow you to withdraw your investment at anytime.
12. Do you have any plans for the future development of BTCBankGroup? In a very competitive business but only a relatively small market, how do you intend to keep BTCBankGroup competitive keep growth at a steady sustainable level at the same time?
We think that the best way to achieve continued success is to continue paying on a daily basis, processing withdrawals quickly, and offering fast and friendly customer support. We are achieving all three of these, and thus we feel that we will continue to excel.
13. And finally, is there anything you would like to say to the readers of MNO that you feel wasn’t really covered in this interview? Anything you feel is important for everyone to know about BTCBankGroup? You may also feel free to comment on the review that was posted. Was there anything there you felt was unfair, mistaken, or in any way in need of clarification?
I think you’ve covered everything Paul. I look forward to a long and prosperous partnership between BTCBankGroup and Money News Online.”
That’s about it for tonight, guys. Just to say thanks a lot to Joshua for taking the time to complete the questions and best of luck to all present and potential investors in seeing a profit from it. I hope it’s worth the effort for everyone involved. So enjoy the rest of your weekend everyone, and I’ll see you all again real soon for more news and updates from around the industry on MNO. So stay tuned for that and see you all then!
The post 29/06/2013. Interview with the Admin of BTCBankGroup appeared first on MNO Blog.
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