This program has STOPPED paying! Do not invest there!

Introduction.

A few days ago, we published a brief “First Thoughts” article about the Bit Elite online investment program.  In it, after summarizing the business activities of the company, we made the following brief remarks about the company’s investment plans:

Bit Elite has three investment plans which are very simple to understand.  They all pay interest on a daily basis and return your investment as part of your earnings.  Returns range from 8% all the way up to 12% daily.  However, in order to take advantage of that rather high return, a very substantial minimum investment is required.  We will discuss the Bit Elite investment plans in detail when we review the program.  We should be able to get to this within a day or two.  Please stand by.

In addition to the above, here’s the information that the website gives about the Bit Elite investment plans:

Beginner
8% daily for 30 days
0.001BTC – 1BTC

10% daily for 45 days
1.001BTC – 5BTC

Professional
12% daily for 60 days
5.001BTC – 100BTC

Analysis of the Bit Elite Investment Plans.

There are two important pieces of information that we need in addition to the above in order to be able to discuss the pros and cons of these investment plans.  These are the daily net interest rate (DNI) offered by a plan as well as the number of days it takes for a plan to break even.  You will remember that DNI is the AVERAGE net interest or profit that you earn from an investment plan per day.  In reality, you may not earn ANY profit on some days while on others you may earn a lot more than the DNI.  DNI is a very useful term because it enables you to compare one investment plan with another.  It is also — obviously — a measure of how profitable an investment plan is.  Finally, it is also a good predictor of the survivability of an investment plan.  So, let’s begin our analysis of these investment plans by determining the DNI for each of them…

OK, focusing on the Beginner plan, to get the total gross interest for the plan, we multiply the daily gross interest of 8% by the 30-day length of the plan to get 240%.  Since this includes your investment, we have to subtract 100% to get the total net interest which will be 140%.  Finally, dividing this by the 30-day length of the investment plan, we get an effective daily net interest (DNI) for the plan of 4.67%.  Here’s the result if you did the same arithmetic for the Advanced and Professional investment plans:

Beginner Plan.  DNI = 4.67%
Professional Plan.  DNI = 10.33%

Before we discuss these results, let’s determine the number of days it takes each of these plans to break even.  That’s easy.  You simply divide 100% by the percent return you receive every day.  For the Beginner plan, dividing 100% by 8%, you get around 13 days.  If you do this same arithmetic for the other two plans, you would get the following results:

Beginner Plan.  Break even in 13 days
Advanved Plan.  Break even in 10 days
Professional Plan.  Break even in 9 days

Discussion.

Right now, one Bitcoin trades for slightly more than \$9,000.  Using this as the conversion rate, you can see that the minimum investment for the Advanced plan is over \$9,000 and that the minimum for the professional plan is over \$45,000.  So, these investment plans will be out of reach of all but the wealthiest online investor.  In fact, we at Emily News discourage people from investing large amounts of money online in ANY investment plan owing to the fact that very few of them provide sufficient verifiable information about the company to give an investor the degree of confidence required to make a large investment.

I suspect that most investors will agree with this and that, therefore, there will probably not be any investors in the Bit Elite Professional plan.  I also suspect that there will be very few, if any, investors in the Advanced plan.  So, for all practical purposes, I believe that Bit Elite will function as though it offers only ONE investment plan — the Beginner plan.  There is nothing at all wrong with this and, if the plan makes sense, the program could turn out to be a very sensible one.

With this in mind, let’s take a close look at the information we now have on the Bit Elite investment plans.  We frequently refer back to the article in HYIP Insights #12 where we made suggestions about appropriate ranges for DNI for online investment programs.  Our suggestion in that article was that, if a program offers investment plans with DNIs higher than 2%, it might have difficulty surviving in the long term.  Well, even the Beginner plan, which offers the most modest interest rate, has a DNI of 4.67% which is more than double our recommendation.  Bit Elite claims to make 15% daily by means of its own investments and this is the basis for which they offer these high interest investment plans.  If, indeed, this is true, both investors and the company will come out ahead — way ahead.  However, our 2% suggestion is the result of watching numerous HYIPs come and go.  We hope that Bit Elite will be one of the rare exceptions that will be able to offer such a highly profitable investment plan on a sustainable basis.

Well, exactly how profitable is this investment plan?  With a DNI of 4.67%, multiplying this by seven, you get an average weekly profit of close to 33% — which is a LOT of money.  So, just because the Beginner plan offers the lowest interest of the three Bit Elite investment plans, it is by no means a low interest program!  Compared to many other HYIPs that are out there, it may be among the highest.

And, this relates back to the two other Bit Elite investment plans that offer even higher interests.  However, aside from the fact that the minimum investments that they require are extremely high, which will make them unaffordable to almost anyone, the interest given by the Beginner program would seem to be more than satisfactory.

Next, let’s take a look at how break even point comes into the picture.  A GOOD thing about investment plans such as this that pay a high gross daily interest is that they break even very quickly.  The Beginner investment plan breaks even in only 13 days.  This means that, in the remaining 17 days of the investment plan, you are earning pure profit.  In addition, another GOOD feature of this type of investment plan is that you are recovering your investment from “day one.” For the Beginner plan, you immediately start recovering your investment at the rate of 8% per day — which is very substantial.  This is far far superior to investment plans that do not return ANY of your investment until the end of the investment plan.

Of course, all of these good points are even BETTER with the Adcanced and Professional investment plans where you break even in only 9 or 10 days and receive pure profit for much longer time periods because the investment plans are much longer.  However, never forget the downside of these very high interest investment plans.

Conclusions.

Bit Elite is a brand new online investment program that offers three investment plans.  All of the plans pay interest daily and return your investment as part of your earnings.  The minimum deposit for the two highest interest programs might put them beyond the reach of most investors.  Even the lowest interest program offers a return that is high by EmilyNews standards.  However, the company claims that its own earnings of 15% per day are such that payment of these returns to investors will not be a problem for them.  An advantage of this type of program is that the high gross daily interest enables its investment plans to break even very quickly.  Another advantage is that, since interest is paid daily, the investor immediately begins to see a decrease in the level of invested funds that he has at risk.  So, the investor looking for a high interest program with moderate risk might possibly find this program to be his cup of tea.  However, the wise investor will always weigh the pros and cons of an investment program very carefully before making a final investment decision.

I hope this information is helpful.  Good Luck!

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