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BitTank — Review Part 1

This program has STOPPED paying! Do not invest there!

The BitTank Company.

BitTank is involved with Bitcoin mining.  The company uses investors’ funds to increase the scale of their operation and thereby multiply the revenue they generate from this activity.  And, a portion of these profits is passed along to the folks that invest with them.  I confess to being a bit of a newbie as to how the actual mining process works.  For folks like me, there is a wonderful description of it in the FAQ for the website.

BitTank appears to be one of three of four online companies that were formed by a group of investors called MatrixBit.Club.  Anyone can join this group be making a small investment.  Well, it might not be that small as the minimum is $10 and the maximum is as much as $250,000.  Anyone that joins MatrixBit.Club is called a “Founder” and, depending on the size of your investment, you can earn from 1% to 2% daily gross interest for a year.  Founders investing $10,000 of more are referred to as “Founder Managers” and are able to participate in the decision-making activities of the organization.  In fact, this group is having a meeting in October in Florida and all expenses are paid for attendees.  Getting back to BitTank, you might say that it is a HYIP within a HYIP — as it is also possible to earn a considerable passive income from MatrixBit.Club by itself.  It is possible that, since BitTank functions under the umbrella of MatrixBit.Club, it might be more stable as a long term investment platform.  All this is a very brief overview of the relationship of BitTank to MatrixBit.Club as I understand it.

But, enough about all this.  Let’s take a look at the investment plans offered by BitTank now…

Investment Plans.

BitTank offers three investment plans.  They all share a number of common features:

  • Your initial deposit is not returned (or you could say that it is returned with your interest earnings).
  • All plans run for a full year.
  • Earnings are calculated every hour and are added to your account then.

Here is a summary of the important information for each of the three investment plans as given in the website:

Simple Miner
.04%/hour or 0.96%/day
$10 – $349

Standard Miner
.06%/hour or 1.44%/day
$350 – $1,949

Advance Miner
.09%/hour or 2.16%/day
$1,950 – $36,000

Analysis of Investment Plans.

The first thing that hits me about these investment plans is that the minimum amount of each of them is not out of reach of the average investor.  Yes, there is a slight increase in the minimum as the percent earnings increases, but it is not at all unreasonable.  This is in contrast to many HYIPs where, in order to take advantage of a high interest investment plan offering obscenely high returns, the minimum investment is likewise obscene.  The hope, of course, is to “hook” an unwary investor, take his money, and run!  We recently published an article about this in HYIP Insights #**that you can read here.  Thankfully, there is none of that sort of nonsense here.  Minimum investment amounts are logically chosen and, as we shall see, so are the interest rates.

Well, how much profit does a person really make from these investment plans?  As we have indicated many many times in this blog, it all comes down to something that we have named “daily net interest” or DNI.  Once again, this is the effective profit that an investment plan gives you on a daily basis.  You can learn more about DNI in an article in HYIP Insights #14 that you can read here.

Let’s look at the first plan, the Simple Miner plan, in more detail.  With a daily rate of 0.96% running for an entire calendar year of 365 days, the total gross interest you will earn in a year would be 350% (0.96 x 365).  Since this includes your investment, we have to subtract 100% to get the total net interest for the year which would be 250%.  Averaging this out over the 365 day period, you finally come up with a DNI of 0.68%.  In Hyip Insights #12 we published an article (that you can read here) which suggests that a DNI of less than one is conservative (low) and is characteristic of an investment plan that has a high chance of being sustainable in the long term.  Of course, the flip side of the coin is that, with a low return, it will take relatively long for you to break even.  To determine how long it will take this investment plan to break even, you divide 100% by the GROSS daily interest of 0.96% to get around 105 days — around three and one half months.  So, after that, for the remaining eight and one half months of the year, you will be earning pure profit.  Not bad.  I hope that you noticed that here we used the GROSS daily interest as this the actual amount that is paid to your account on a daily basis.

You can make the same calculation for the other two investment plans to come up with the following results:

Simple Miner
0.96%/day
$5 – $349
DNI = 0.68%
Total net interest = 250%
Break even in 105 days

Standard Miner
1.44%/day
$350 – $1,949
DNI = 1.17%
Total net interest = 426%
Break even in 70 days

Advance Miner
2.16%/day
$1,950 – $36,000
DNI = 1.89%
Total net interest = 688%
Break even in 47 days

If you stare at these numbers for a while, a number of things might hit you…

First, the DNIs for all the programs are less than 2.0%.  This is the percent that, in HYIP Insights #12 we suggested might be an upper limit for sustainable programs.

Second, and this is a bit more subtle, the DNI of the second plan is around 72% higher than the DNI for the first plan and the DNI for the third plan is around 61% higher than the DNI for the second plan.  It seems that someone at BitTank has done his homework in devising programs that have a logical progression of interest rates — rather than the more or less random rates that characterize the typical HYIP.  So, as you move up from plan to plan, you can expect a 60% to 70% greater earning potential.

This varies with the investor.  However, with a minimum investment of only $350, it would seem that the second plan might be the way to go.  With a DNI that is 72% higher than that of the first plan, there is the potential for considerably higher earnings.  The third plan requires a much more hefty minimum deposit.

Next, what about break even points?  We already observed that the first plan will have you breaking even in three and a half months (and making pure profit for the rest of the year after that).  In the second plan, you will break even in a little over two months and in the third plan in only around one and a half months.  So, in these last two plans, you are earning pure profit for most of the year.  Not bad.  That’s what passive income is all about…

Going back to the thoughts of two paragraphs ago, the second plan is also much more favorable than the first from the point of view of time to break even.  Two months is a LOT shorter than three and a half.

In Part 2 of this review (available) we’ll take a look at the money that can be earned with these investment plans as well as a few other features of BitTank.  Please stand by…

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1 thought on “BitTank — Review Part 1

  1. They are not paying now and cash holds.
    Please don’t waste your money and time in Bittank.club as they are scam..

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