This program has STOPPED paying! Do not invest there!
Some Background Information.
As we indicated in the “First Thoughts” article (that you can read here) which was published only a day or two ago, BitDragon offers three investment plans. They all offer fairly high interest rates which is compensated for by the fact that the plans are perpetual; you continue to be paid your daily earnings until the program finally closes its doors. The fact that there is no set length of term for the different investment plans complicates things when it comes to analyzing them. For every investment plan that we look at, we always determine the daily net interest (DNI). But, as you probably know by now, in order to determine this, you have to know how LONG an investment plan will run for. Since this is an unknown for BitDragon, we will attack this problem by ASSUMING a number of different scenarios for how long the program will survive. Of course, we all hope this will be a very long time. But, in our analysis, we will look at a broad range of possibilities — as short as two weeks and as long as a full year. Then, it will be up to you to use your crystal ball to decide how long YOU feel the program will be around and make your decision of whether or not to invest based on what you feel…
As you might gather from the name of the program, all transactions with BitDragon are with BitCoin. I will usually stick to that in this review rather than change things to dollars. However, from time to time I will point out the equivalent of dollars to a BitCoin amount we might be talking about — just to make the discussion more meaningful to folks who don’t think too well “in BitCoin.” When doing that, I’ll use the approximate conversion of $4,000 = 1 BTC.
With all this as an introduction, let’s take a look at the BitDragon investment plans…
The Investment Plans.
As I’ve already indicated, BitDragon offers three investment plans. Following is the information about them that is given in the program website:
Starter
9%/day
0.001 – 5 BTC
Medium
10%/day
5.000001 – 10 BTC
Pro
12%/day
10.000001 – 30 BTC
Looking at these numbers, aside from the high interest rates, the first thing that should hit you is that the minimum investments for the Medium and Pro plans are quite high. Using the $4,000 = 1 BTC conversion, the minimum investment for the Medium plan comes to $20,000. This will be out of the reach of 99% of online investors. Of course, the Pro plan with a minimum of twice this is even more out of reach. So, in our analyses of the BitDragon investment plans, we will only look at the Starter plan (with a minimum investment of only 0.001 BTC or around $4). However, if you’re interested in investing a LOT of money to take advantage of the higher interest rates, you can take a closer look at the two higher interest plans in exactly the same way that we will look at the Starter plan.
BitDragon also offers the possibility for an investor to “compound” his interest earnings. We’ll talk more about that when we analyze the BitDragon investment plans — which is what we’ll do next in Part 2 of this review.
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