{"id":1646,"date":"2017-08-11T03:55:50","date_gmt":"2017-08-11T03:55:50","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=1646"},"modified":"2017-08-11T04:01:08","modified_gmt":"2017-08-11T04:01:08","slug":"news-commentary-147-ethtrade-cryptosolutions","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=1646","title":{"rendered":"News Commentary #147 — Ethtrade and CryptoSolutions"},"content":{"rendered":"

<\/a>Ethtrade is Dead!<\/strong><\/p>\n

Well, try as we might, we cannot log into the Ethtrade website.\u00a0 So, today, as far as Emily News<\/em> is concerned, Ethtrade is closed.\u00a0 It has actually been unofficially closed for a number of weeks now, at least since they started talking about a new cryptocurrency — Bullcoin — that they appear to have had a role in creating (I don\u2019t understand how that kind of thing works; I\u2019m just an HYIP investor!).\u00a0 We tried to cover all this in our last two News Commentaries<\/em> on Ethtrade.\u00a0 The bottom line might unfortunately be that, unless you converted your Ethtrade assets into Bullcoin, you might have lost everything in your Ethtrade account.\u00a0 If this is you, I would strongly advise reviewing the past News Commentaries<\/em> as it might still be possible to do the asset conversion to Bullcoin.\u00a0 There might even be a support number that you can call.\u00a0 Ethtrade hasn\u2019t completely disappeared in that there is this follow-up organization in its place.\u00a0 This is unlike most other HYIPs wherein, when the website disappears, the program also disappears — completely.<\/p>\n

Ethtrade Memories…<\/strong><\/p>\n

Ethtrade has been the longest-lined of the HYIPs that Emily News<\/em> has monitored.\u00a0 We have been monitoring them for around 200 days and reviewed the program on January 19 — over a half year ago.\u00a0 Ethtrade did a good job with the presentation of its program which offered a modest return that had the potential for long term survivability.\u00a0 The first serious red flag we noticed about Ethtrade was that, in their very attractive program brochure, there was a photograph of a paid actor posing as Eric Bondi, the supposed founder of Ethtrade.\u00a0 We did a major expose\u0301 article on this in our HYIP Insights #5<\/em> (that you can read here).\u00a0 In fact, this article turned out to be the most popular of all the Insights<\/em> articles that we have published so far.\u00a0 In the months that followed, Ethtrade released another brochure which silently deleted the photo of Bondi and featured other members of its management team.\u00a0 We at Emily News<\/em> felt that this was a good reminder to our readers that even the most sophisticated presentations can still be nonsense; they are really no safer as a place to invest that other HYIPs that operate on much smaller budgets.<\/p>\n

In recent months, Ethtrade became extremely active in Southeast Asia hosting numerous public meetings.\u00a0 Many of these were gala affairs with hundreds of attendees, delicious food, and even entertainment.\u00a0 I suspect that these meetings resulted in hundreds (thousands?) of people investing with Ethtrade.\u00a0 There will be a LOT of disappointed people in that neighborhood as Ethtrade was presented as a very stable long term investment and my view — from the other side of the world — is that folks attending these meetings bought into all the excitement and invested.<\/p>\n

Just recently, in our News Commentary #138<\/em>, we reported on the collapse of the BTE-C cryptocurrency exchange.\u00a0 That commentary dealt with the FexFund which lost the bulk of its funds due to the collapse and were forced to close its program.\u00a0 I recall a discussion with my colleague at Emily News<\/em> in which I suggested that, since we all knew that Ethtrade was a make-believe company, it might take advantage of this opportunity to use this event as an excuse to close.\u00a0 Predictably, in our next News Commentary #139<\/em>, we reported that Ethtrade indicated they had “an imposing volume of funds” being traded on that exchange and are concerned about the future of BTC-E.\u00a0 The rest is very recent history about Ethtrade discontinuing the HYIP aspect of its company and becoming involved with a new cryptocurrency — Bullcoin.<\/p>\n

The message to be gained from all this is the same as we always say at the end of every review made by Emily News<\/em>.\u00a0 ALL (I repeat — ALL!) high yield investment programs are very high risk ventures and, no matter how good they sound, should be handled with a great deal of caution.\u00a0 We all hope they are real companies that will last forever.\u00a0 However, the reality of the situation is that 95% of them are UNreal and will close their doors in months or, if you\u2019re really lucky, in a year or so.\u00a0 The other 5% might be real.\u00a0 However, even real companies that pay high interests can easily go broke too.\u00a0 So, our advice is always to:<\/p>\n