investwithtab-blog

[investwithtab-blog]

USI-Tech shut doooowwwnn. No more US or Canada dealings

USI-TECH has busted. This is the letter we got in our back office Important Notice Extraordinary Termination of Distributor Agreement Dear Customer, You are active for our company in the US and/or Canada as a distributor offering our services. We were utterly dismayed to learn that a large number of our sales partners extensively advertise our services on their own websites as well as on social media in a manner which is a breach of contract as well as illegal, and which gives the appearance that our service portfolio violates both US and Canadian law. Despite the measures which we have already initiated, this behavior has even intensified in recent weeks and months. This has already resulted in actions by the respective authorities against various distributors, as well as the first preliminary injunctions in response to this advertising behavior. The initiation of the above-mentioned official action and the court-ordered preliminary injunctions has also inevitably placed our company in a legally problematic situation. This is due to the fact that, in the event of any doubt, it cannot be ruled out that this illegal advertising by the distributors involved will cause the relevant authorities to suspect that our company itself is promoting this type of advertising activity, or at least tolerates it. This type of alarming view by the authorities would lead to unforeseeable damage for our company as well as our sales partners who observe applicable laws. We cannot subject our company or our reputable sales partners to this danger. Consequently, we have decided to immediately discontinue our business activities as well as our sales in the US and Canada. Unfortunately, this also has a direct consequence for you as a sales partner since the cessation of our marketing operations means that we are forced to immediately terminate our contractual relationship with you. Although we deeply regret this step both on a business and a personal level, effective immediately we hereby summarily cancel the existing contractual relationship with you as a distributor, or, alternatively, hereby notify you of ordinary termination as of the next possible date. In light of the above-announced termination, effective immediately you may no longer market goods, software or other services to our customers, and we will unfortunately no longer be able to accept applications for distributor agreements from third parties from you. In order not to jeopardize the termination of our contractual cooperation, for security reasons your sales partner account in our back office will also immediately be blocked. Naturally, we will be paying out all commissions earned up to today's date. We expect to check your remaining unpaid commissions within the next 2 weeks, and as part of this process we will also check/offset/reclaim commission claims of various distribution partners for unlawful double payments/rebuys as well as for unlawful payments due to double-accounts (multiple registrations). Once we have concluded our audit and have determined commission claims, we will remit them to you taking into account the requirements of Section 14 of our Distributor Terms and Conditions. With respect to those sales partners whose illegal advertising behavior is responsible for this current situation, we reserve the right to assert claims for damages, which we will also enforce by offsetting them against commission claims. We would also like to point out that, as a result of the above termination, effective immediately you must destroy and/or take offline all websites, landing pages, social media sites/chat groups (e.g., Facebook, YouTube, Instagram, WhatsApp, Telegram pp.) or other online or offline advertising materials relating to direct sales of our goods, software, other services and/or our direct sales concept. At the same time, you are obligated to immediately discontinue or cancel all current advertising and/or planned advertising, promotional events or other promotional efforts for our company. In addition, you must immediately terminate or discontinue the use of any registered internet domains, social media accounts, WhatsApp groups or comparable tools, as well as delete the associated login info and/or registrations inasfar as these internet domains, social media accounts, WhatsApp Groups or similar tools include our name, trademarks, product names or other characteristics of our company. Compliance with the foregoing is also very important with respect to your own interests, e.g. in order to still any concerns on your part with respect to warnings or other actions for misleading or unlawful advertising by third parties or any official investigation of you, given that we have terminated our direct sales in the United States and Canada. If you currently also use our products, software or other services as a customer, we will be promptly informing you separately regarding the continuation of our customer relationship with you. We would like to conclude by thanking you for your commitment to our company and for your sales efforts. We extremely regret these recent negative developments caused by the behavior of dubious sales partners and wish you all the best professionally and personally. Best regards USI-TECH Management" Somehow I feel like the universe was like... Biiiitttccch you about to get in trooouubbble and shut it down to protect me. I barely just got started 😭😭😭😭 Oh well! I'll stick with regular wallets then. Or maybe look for other miners. 🤔🤑

[investwithtab-blog]

1/3/18

So it has been a while since my last post. Bitcoin had a dip and UTI – TECH was accused of Ponzi Schemin. Here’s what I know.

 Bitcoin dropped down to about $11,000 right before the holidays. I am going to go on a limb and say the reason for the dip was withdrawals for Christmas shopping. There was a report that said that retail increased 5% since last year. I am by far not an expert but that’s what my common sense is saying. We have regained some of the loss from a high of $19,000 which is good. I feel like it will still climb and will still be investing in Bitcoin and the other coins as well. Ethereum is almost $900 a coin right now.

As you can see my Bitcoin went down $9.01. My ETH wallet went down $0.02 and LTC went down $0.08. So a total loss of $9.11 in 15 days.

Now as far as UTI – Tech goes, I am not sure that the company is in fact running a Ponzi scheme or if two (or more) guys didn’t figure out a loop in the system and run a scam. There is a notice on the website about compliance and says, “Due to recent events, we would like to point out urgently, once again that ALL violations that are not compliant with the current terms and conditions of USI-TECH will result in the immediate terminations and closure of the associated account!

Everything that the company knows about any violations will be prosecuted and punished with all severity and ZERO TOLERANCE!

Please understand that this is absolutely necessary for the protection of all customers and partners.

Please help us keep our business clean and report violations to Compliance:”

From my understanding of the cease and desist in my state of Texas, the two gentlemen named in the order are accused of violating Texas Securities Registration standards and failing to disclose the risks involved in bitcoin mining. The disclosure violations are:

 a.     The identity of the principals of USI-TECH

b.     The identity of the entities or persons party to the Bitcoin mining contracts as well as info about the facilities used to mine them, the hardware used to mine them, the costs associated with mining them and their success in mining Bitcoin.

c.     The terms and conditions of the Bitcoin mining contracts as well as the terms and conditions of USI-Tech’s non-exclusive interest in Bitcoin mining contracts

d.     Information about the assets and liabilities of USI-Tech and any other info that indicates the means USI-Tech will provide investors with a 1% daily return regardless of the value of Bitcoin

e.     The risks associated with bitcoin packages and mining bitcoins.

 Also according to their cease and desist letter, you CANNOT represent that you pay commissions for referring new investors because anyone selling securities must be registered with the State Securities Board or otherwise exempt from registration. They are also claiming the Federal Trade Commission certifies the product which is false because they do not regulate the registration of securities in Texas, the State Securities Board does that.

So in conclusion, they are accused of engaging in fraud because they are not registered with the State Securities Board and they are using misleading language.

As of right now, as far as I stand on the issue, I will keep my two packs and see. I feel like a couple of guys got busted not knowing the law or maybe thinking “Oh, it’s Bitcoin, it’s underground, no one is going to come say anything to us about it.”

 Wrong. Never let your ego get in the way and mess up your income! Be smart! Bitcoin is getting to be a household name, a lot of people still do not know a lot about it but they are hearing more things and starting to catch on.

 So… if I am looking at my wallet, I’ve made $10.11. The total I have in my wallet because of a slight overpay is $11.86. When I get to about $60, it will automatically “rebuy” another pack and then I will continue off of that. Let’s say hypothetically, USI-Tech gets shut down. I am not tripping because this $120 that I used to buy these packs was all profit from Coinbase bitcoin.

10.11-9.11 = I made a dollar in 15 days. LMFAO but that is what investing is all about right? Gotta ride the wave!

I’ll be purchasing some more coins this Friday, stay tuned!

[investwithtab-blog]

I 😍 Bitcoin

[investwithtab-blog]

You be the judge. Was it Ponzi?

12/21/17

Two of USI-Tech promoters, Clifford Thomas and Michael Rivera, get caught up in allegations of running a Ponzi Scheme through the company.

A Ponzi Scheme is “a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading.”1

They are also accused about lying about contracting a $70 million dollar contract with BitFury, BityFury CIO Alex Petrov says there is no contract. 2

In a response to allegations, USI-Tech has issued a statement to it’s members:

USI-Tech also issues a minimum withdrawal order in the amount of 100 Euros which is $118.49.

So in my case, I only invested $120, I could probably pull my packs.

But the interesting thing to me is, there is a lot of back and forth online about it. Surely some people have gained quite a bit with it. But on the other end, people are calling the whole thing a fraud, and a lot of “I told you so”.

I am not totally sure what to think. Are these affiliates gone wild? Will they be arrested for securities fraud? Is USI-Tech a real mining company or is it all a front? I have too many questions, and not enough answers at the moment. So for now, I will keep my packs where they are and see how this plays out.

But I will turn my investments elsewhere for now. Have to go to plan B.

1) https://en.wikipedia.org/wiki/Ponzi_scheme

2) http://behindmlm.com/companies/usi-tech-lied-about-70-million-dollar-bitfury-contract/

[investwithtab-blog]

USI-Tech a Ponzi Scheme? 🤔

Check this out... (behindmlm.com/companies/usi-tech/usi-tech-securities-fraud-emergency-cease-and-desist-issued-in-texas/ , 12/20/17) "The Texas Securities Board see USI-Tech as a “bitcoin promoter” offering an investment opportunity. Following an internal investigation into USI-Tech and two US promoters, the board presented gathered evidence of securities fraud to the Securities Commissioner. In an attempt to stop promotion of the USI-Tech Ponzi scheme throughout Texas, the Securities Commissioner issued an emergency cease and desist on December 20th. The emergency cease and desist targets two US USI-Tech promoters, Clifford Thomas and Michael Rivera (right). I wasn’t able to find much on Thomas, but on YouTube Rivera goes by the alias “Michael Crypto”. In addition to USI-Tech, Rivera is also promoting the BitConnect Ponzi scheme. an overseas firm that is promising low-risk, triple-digit returns from investments tied to Bitcoin mining. Neither USI-Tech nor the sales agents, Clifford Thomas of Suitland, Md., and Michael Rivera of Los Angeles, are registered to sell securities in Texas. The investment also is not registered in Texas. The common response to this by USI-Tech affiliates is that securities law doesn’t apply to bitcoin investment. To this end USI-Tech affiliates claim the company’s mining contract investment opportunity is ‘a “certified legal product in the USA per the FTC.”’ According to the Securities Board that’s baloney, and the Securities Commissioner is having none of it. The Federal Trade Commission, however, has no role in regulating registration of the mining investment as a security in Texas. The State Securities Board regulates the registration of the mining investment as a security in Texas, the registration of dealers and agents offering and selling the product, and the disclosure of material facts to investors. Despite claims that USI-Tech’s owners are “transparent”, the Securities Board points out that the company is anything but. Disclosure violations include: Information about the facilities used to mine bitcoins, the costs of mining bitcoins, and whether they have successfully mined bitcoins; The terms of the contracts and an explanation of USI-Tech’s “non-exclusive interest” in mining contracts; and Information about whether the company’s financial condition is strong enough to provide a 1% daily return. The Securities Board also calls out USI-Tech’s “deceptive” legal opinion. Sales agents are attempting to deceive the public by claiming that USI-Tech has a “binding legal opinion” from a law firm stating the company is “a legal business in good standing.” The emergency cease and desist order identifies Clifford Thomas and Michael Rivera as promoters of USI-Tech’s BTC Packs. The order identifies USI-Tech’s BTC Packs as a securities offering, requiring both the company and its affiliates to be registered with the Texas Securities Board. Allegations leveled at USI-Tech, Thomas and Rivera in the order include: violations of the Texas Securities Act by offering securities in Texas at a time when the securities are not registered with the Securities Commissioner violations of the Texas Securities Act by offering securities for sale in Texas without being registered engaging in fraud in connection with the offer for sale of securities making offers containing statements that are material misleading or otherwise likely to deceive the public and engaging in conduct, act and practicies that threaten immediate and irreparable public harm The order demands USI-Tech, Thomas and Rivera immediately cease and desist from offering for sale any security in Texas until the security is registered with the Securities Commissioner acting as securities dealers or agents in Texas until USI-Tech, Thomas and Rivera are registered with the Securities Commissioner engaging in any fraud in connection with the offer for sale of any security in Texas offering securities in Texas through an offer containing a statement that is materially misleading or otherwise likely to deceive the public If USI-Tech’s owners, Clifford Thomas and Michael Rivera continue to promote the BTC Pack Ponzi scheme in Texas, they risk a $5000 fine and two year prison sentence. Being a Ponzi scheme USI-Tech is unlikely to register itself with US securities regulators, as that would mean disclosing it was using newly invested funds to pay off existing investors. What Thomas and Rivera do remains to be seen. At this point I’d say it’s only a matter of time before the SEC takes on USI-Tech at a federal level, effectively ending promotion of the Ponzi scheme across the US for good. This will likely result in USI-Tech collapse, as the US is by far the company’s largest source of investment revenue. Stay tuned…

[investwithtab-blog]

One run day?!

12/19/17 – I just realized I am going to have to date my posts because tumblr isn’t automatically doing so. Do’h!

So much to learn regarding this process! LOL Basically I am learning as I am going.

Ok, so with USI-TECH, the mining only happens between Mon-Friday. So my pack went through on Saturday, 12/16/17. I am over here expecting my run time to change and to start seeing my growth, but NOPE. So I emailed them on Monday which they responded super quick that it’s only M-F.

Oops!

But I have my first little earning so far. 

 So basically after one date, I made 0.000053 BTC which equals out to about $0.95. Another day, another dollar. We will see what it does after about a week. In my Coinbase account, my BTC went up $1.62 in 4 days. LTC up $0.04 and ETH up $0.11. So in four day in Coinbase + 1.77. Let’s say we are comparing to USI-TECH and their M-F model, that’s about $0.89 cents per day. So USI-TECH has the slight advantage over this so far. 

 Now remember this market fluctuates just like the stock market so it could end up being more or less at any given point. But USI-TECH is “guaranteeing” close to $1.00 +/- a few cents so we are about to see!

Stay tuned for my update post on Monday!

[investwithtab-blog]

Finally!

Coinbase was lowkey getting on my damn nerves. LOL!

So to be able to transfer bitcoin automatically, you have to upload your ID. None of my uploads would accept and it kept giving me the error that too many requests were happening at the same time. So I ended up having to wait 72 hours for my coin to transfer to USI-TECH.

Today, it FINALLY transferred.

Then, even after it transferred, it had a pending status for probably another two hours. Apparently you still have to get 6 confirmations(?) before the money actually transfers. This is a lot of high tech mumbo jumbo in my opinion but I’ll eventually learn what all this means. LOL

To eliminate this long ass wait time I am going to use Payza next time. You can add bitcoin, alt coin, use your credit card, and some other payment methods

https://secure.payza.com/signup for the FREE account there.

So currently as of today I have two packs starting in USI-TECH.

The below is what I have in my Coinbase account. I will be adding to it as well as my other app with the altcoins after the holidays.

It’s not much to start but I have major plans with it! I was really just skeptical about this whole thing and wanted to test some things out. We are about to see what it do though! Stay tuned!

[investwithtab-blog]

Starting my investment journey

So I am not by any means going to act like I know everything there is about investing. I am a straight up newbie in this game. I legit have a 401K that has like ... $60 dollars in it. But I am getting involved with this crypto currency stuff and I am excited about it. This blog will be my chronicle of my journey in this.

A little backstory for anyone that doesn’t know me... I am a single mommy of two amazing kids. I have one of each, girl and boy. I know everyone says their kids are amazing, mine are really amazing to me. Ha! I’m approaching my mid 30s (Faaawkkk my life), I make somewhere around $50k a year but I have to work a normal 8-5 and do other odd jobs to accomplish this. I do not have a degree though I have taken probably 80+ college credit hours. My background is accounting. I do not get any sort of help from the government (I would hope not at my income) and their dad is a complete waste man and we haven’t seen him in a couple years and haven’t heard from him in a year. Obviously child support is non-existent.

So enough about my crazy life. Back to the investing.

I’m really active on social media, I will admit, I am fucking addicted. It might be a problem. But that’s ok, because if you actually soak in information out there, you can learn and experience a whole bunch of things. I’ve tried a lot of random products from social media, and it’s been fun.

One thing that I have been seeing a lot of is this bitcoin thing. Now maybe you’re like me and don’t really know what a “bitcoin” is. I don’t even totally understand it myself, I just know it’s some sort of online currency. At the current writing one bitcoin is worth $16,717.00 USD.

Now, I don’t have $17k to go out and purchase one freaking bitcoin but that’s what is kinda cool about it. I could buy a piece of it, and watch it grow from that. There are also other coins such as Ethereum and Litecoin.

About a month ago, I decided to download Coinbase which is an online wallet, and there are many other types of wallets, and I paid for $55 worth of Bitcoin. I also bought some of the other kinds but then I sold it. SMDH!

So as you can see from the picture above, you can buy the BTC or bitcoin in fractions of the actual coin. After about a month, my bitcoin went from my initial investment of $55 + 10 from coinbase (I have no idea why they sent me $10 but I’ll take it) to about $200.00. Over $100 growth in a month? And I didn’t have to do anything? Oh yeah, I’m in there like swimwear.

So, the next thing I did was send for a Shift card. Basically it’s a Visa debit card that you can use with any retailer that will accept bitcoin and it is linked to your coinbase account.

Then, I have been hearing about how people can “mine” bitcoin. When I think of mining something, I think of a man digging in a mountain.

From what I gather though, you have to have a high performance computer (ol’ faithful with her missing keys won’t cut it) and you have to solve mathematical equations. They WOULD make it something that everyone hates right? I need to research this more, why are we doing math work like we are in school? Does our computer do it, or do we need to actually look at this? I am so confused.

Anyways, this dude on Facebook posted about getting a guaranteed 40% return on your investment with bitcoin. He is with this company called USI-Tech which I’ve seen the name thrown about a few times. So, this is how that works.

You buy “packs” for about $60USD (you need a wallet with bitcoin to transfer into this USI-TECH wallet for your packs. You might be able to buy with cash, but I had bitcoin so I used it. It’s all profit at this point you know?) I am really not sure what happens, but the pack sits there for 140 days, and you are supposed to get at least a 1% return every day for 140 days or until you reach that 40%. So basically in 4 months or less, you earn $24 off of your $60. Now that I am typing this out, that sounds SUPER slow. Especially since I made 28% off of my investment in coinbase within a month. But whatever. I bought two packs in this system and I am basically just going to flip those two packs. Take my interest earned, buy more packs and keep going until it’s no longer profitable. I figured that off my $120 initial investment, if I keep flipping it and buying more packs by 1/8/2021 I’ll have made $1700. I am thinking of buying more packs to have a staggered interest income, so when one expires in one month, I still have more going. Let’s say I buy another $120 this month. I’ll make $3400 by 2021. Next month if I put another $120, it should be $5100. And so on. So it may be slow, but an extra $5k+ in 3 years is pretty damn good in my opinion. Let’s say I invest hard now, in a few years I’ll actually have my down for my house that I need. Who knows, maybe I’ll be able to buy one outright.

In addition to my USI-Tech -scapade, I will be investing in not only Bitcoin but other currencies as well. I will update this blog as I go along this journey for anyone who is curious and wants to see what happens with a real live person. LOL

REMEMBER, I am in NO WAY RESPONSIBLE FOR ANY INVESTMENT YOU MAKE. If you invest and lose, that is on you. If you invest and gain big, WHOO HOO FOR YOU! I am not an investment advisor, I am simply sharing my investment story for entertainment purposes for you and as a sort of experiment for myself. Because I am a nerd and I like to experiment. :)

To get a FREE Coinbase account:

https://www.coinbase.com/join/59e1026524ce740378bf6a12

Use this link for us both to get $10 free in Bitcoin! Yay, free stuff!

To get a FREE USI-Tech account:

https://tabithavalentine1984.usitech-int.com

I also have the Blockfolio app, it gives you access to multiple types of alternative coins that Coinbase does not have. I do not have any investments on there yet.

http://blockfolio.com/

Stay tuned for my next post! Happy investing!