This program moved to CLOSED! Do not invest there!
In Part 1 of this Review (that you can read here) we first took a look at the five BitSmyne investment plans. Based on what we saw, we decided that the last two investment plans, the ones paying the highest interest, would probably be unpopular because of the high minimum investments that are required. In fact, we reiterated the EmilyNews position of DISCOURAGING investors from investing in online plans such as these that require such a high investments. In light of this, we elected NOT to include these last two investment plans in discussions that followed.
Next, we took a look at the time for the BitSmyne investment plans to break even. Rounding things off, it takes around three months to break even in any one of them. This is a long time in the HYIP business, but certainly not impossibly long. In HYIP Insights #**, we made several recommendations concerning what we thought make for a good HYIP. One of them is that the investment plans offered by the HYIP should break even in the neighborhood of a month or so. Of course, BitSmyne is in a difficult position on this. If it increased its interest rates in order to shorten the time to break even, given that this is a “perpetual” investment program, this would more than likely lead to the early closure of the program. So, the tradeoff is that the investor should only join a “perpetual” program such as this if he is convinced that it will be viable in the long term. How long? Well, it will take you three months just to break even — six months to double your money. Or, to put it another way, every three months you get your money back. So, if the program survived for a year, the first three months would be devoted to breaking even. Then, in the nine month period following, you would get your investment back three more times — a net profit of around 300% in a year’s time.
The third thing we took a look at in Part 1 of the Review was the DNI that the BitSmyne investment plans paid for different assumed periods of survival of the program. When you look at the table of values for any of the three investment plans, it is obvious that, the longer the program survives, the greater your average daily profit (over the assumed length of the program) will work out to be. Only the Barium plan, paying a gross daily interest of 1.28%, provides a DNI of 1% — assuming that the program survives for an entire year. Needless to say, if the program survives for longer than a year, the average daily profit that you make would further increase. Ultimately, it will peak out at the gross daily interest that an investment plan pays. I didn’t bother to determine how long this might be. A few years is my guess. Very few HYIPs survive for even the year for which we calculated these estimated DNIs. It would make everyone very happy if BitSmyne turned out to be a winner and survived for a lot longer than a year. But, there is no way to tell. In HYIP Insights #12 we suggested that programs offering investment plans with DNIs less than 1% would have a good chance of long term survival. This is a good omen for BitSmyne as all of its investment plans (that will be used) are in this range. Unfortunately, with “perpetual” investment plans such as these, the program never gets relief as new money is unlikely to be injected into the program by old investors. So, money goes out forever, but no new money comes in. This is a difficult situation for an HYIP to be in. Let’s see what happens in the case of BitSmyne…
We might remind you that, in cases like this where the long term survival of a program is extremely important in order for an investor to come out ahead, it becomes more important for an investor to more seriously investigate the company behind the program than would otherwise be the case. HYIP Insights #** has additional information on this important subject.
BitSmyne offers several “perpetual” investment plans. You invest once and receive interest earnings for the life of the program after that. It takes roughly three months for these plans to break even and another three months for the investor to double his money, as interest rates are quite modest. These would be classed as long-term programs in the HYIP business and will probably appeal most to the conservative investor. The investor interested in quick high interest returns will probably not be too interested in this program.
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