{"id":2280,"date":"2017-10-28T06:46:51","date_gmt":"2017-10-28T06:46:51","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=2280"},"modified":"2017-11-14T04:24:53","modified_gmt":"2017-11-14T04:24:53","slug":"lifebit-review-part-1","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=2280","title":{"rendered":"LifeBit — Review Part 1"},"content":{"rendered":"

This program has STOPPED paying! Do not invest there!<\/strong><\/p>\n

Introduction.<\/strong><\/p>\n

A few days ago, we wrote a \u201cFirst Thoughts\u201d article LifeBit<\/a>. I\u2019m going to repeat the first paragraph of the article as it represents my thoughts on the \u201cLegend\u201d (read more about HYIP \u201cLegends\u201d here<\/a>) of the program. Here\u2019s the paragraph:<\/p>\n

We just began a \u201cSilver\u201d listing for LifeBit <\/a>on the Emily News<\/em> monitor. The company has been online since October 5 which is also the date of filing on their incorporation papers. So, it appears to be a very new company. They claim to be involved with both BitCoin mining as well as with trading of BitCoin \u201con the most secure markets in order to maximize your risk; and maximize your ROI.\u201d This is not the first time I have encountered a company that is involved with these two activities. Actually, this surprises me as, the way I see it, mining is the territory of a computer \u201cgeek\u201d whereas trading cryptocurrencies is the job of the financial analyst. Two very different professions. This not to say that this is an impossible combination. But the implication is that it takes two teams of professionals rather than one to get the work done. LifeBit <\/a>also claims that they use alternate energy to power their mining operation. The up-front costs of getting set up in the mining business must be substantial. The biggest drawback to alternate energy is also the up-front cost. I\u2019m surprised that they don\u2019t begin operations using conventional energy sources and then gradually replace them with alternate energy. This thought does appear to some degree in the website explanation of the company\u2019s operation when it talks about expansion of the business. It says \u201cWith the invested money we are able to set up new renewable energie sources, so we can mine Bitcoins without any additional electricity costs.\u201d The company will have to work very hard to recover its investment in mining hardware and initial solar generating equipment before it can purchase more.<\/p><\/blockquote>\n

An amusing point I missed when I wrote this is in the sentence I quoted from the LifeBit <\/a>website which, again, states that the company is involved with trading BitCoin \u201con the most secure markets in order to maximize your risk; and maximize your ROI.\u201d Well, do you want to invest with an HYIP that \u201cMAXIMIZES\u201d your risk?! Hmmm. I assume this is a typographical error and that the writer meant \u201cMINIMIZE.\u201d But, you must ask yourself how could such a major error be made? If you feel that your wife or lover is beautiful, would you tell her the OPPOSITE — that she is ugly? Such a major oversight tells me that the folks at LifeBit <\/a>aren\u2019t very careful about the words they put into print. Is there anything else that is stated in the website that is blatantly false? Or, maybe their trading techniques DO maximize risk!<\/p>\n

<\/a><\/p>\n

But, enough about this. Let\u2019s see what LifeBit<\/a> has to offer in the way of investment plans\u2026<\/p>\n

The Investment Plans.<\/strong><\/p>\n

LifeBit <\/a>offers a single \u201cperpetual\u201d investment plan. In case this term is new to you, it simply means that your investment will continue to earn interest for you FOREVER. This is a very good deal IF the company remains in business for a long time. The flip side of the coin is that your investment is never returned to you. I suppose you could say that it is returned as part of your earnings. Certainly, they are large enough for the investment plan to be interpreted this way.<\/p>\n

There is something that only hit me recently about HYIPs such as this. As time goes on, they put themselves into a poorer and poorer financial situation because their obligation for payment of interest earnings continually increases. It never ends — as is normally the case when the term of an investor\u2019s investment plan ends. In this regard, you might almost say that an HYIP offering this type of investment plan is doomed to a limited life expectancy. But, maybe I\u2019m missing something here. I would welcome another point of view on this.<\/p>\n

As the website states, the amount that you invest determines the daily interest that you will receive. LifeBit <\/a>only transacts business in BitCoin. Here are the interest rates that correspond to the size of your investment — everything in BitCoin:<\/p>\n

0.0010 \u2013 0.0300 BTC: 1.50%\/day
\n0.0301 \u2013 0.1500 BTC: 3.50%\/day
\n0.1501 \u2013 0.3000 BTC: 5.50%\/day
\n0.3001 \u2013 1.0000 BTC: 6.25%\/day
\n1.0010 \u2013 10.0000 BTC: 6.50%\/day
\n10.0010 \u2013 30.0000 BTC: 7.00%\/day<\/p>\n

I still don\u2019t think too well in BitCoin. So, to make things clearer to myself, and maybe to a few of you, I\u2019m going to translate a few key numbers into dollars and cents. I\u2019m going to use the conversion of 1BTC = $6,000. It might not be quite as high right now due to the volatility of BitCoin. But, a few days ago, the conversion \u201cbroke\u201d the $6,000 mark. So, I\u2019ll use that.<\/p>\n

With this in mind, the 1.50% level of the investment plan has minimum and maximum investment limits of $6 and $180. This is where the typical HYIP “dabbler” might invest. The 3.50% level has min and max limits of investment of $180 and $900. The more serious investor can probably handle these investment limits. The 5.50% level has min and max limits of $900 and $1,800. A few investors might be able to handle this. The 6.25% level has min and max of $1,800 and $6,000. Possible a few investors might go this high. The investment limits for the last two levels are probably beyond the reach of HYIP investors or, if they are within reach, the investor would probably like to know a LOT more about the company he is dealing with than what is given in the website. So, they probably don\u2019t deserve further discussion — except for one point\u2026<\/p>\n

The interest that is paid for the highest level investment plan is 7%\/day. This comes to 49% per week! Let\u2019s round that off to 50% per week. Putting it another way, investments at this level will have you doubling your money every two weeks. In a year, this means that your investment would be multiplied 26 times. Well, the minimum investment for this plan is around $60,000. Multiplying this by 26, you get $1,560,000. One and one half million bucks profit in one year. Not bad at all. Can this really be true or are the folks at LifeBit <\/a>just fishing for a rich investor who believes all this? We wrote an article about this type of situation that you can read here<\/a>. Personally, I hate to see HYIPs offer impossible investment plans such as this. It does nothing good for their credibility.<\/p>\n

<\/a><\/p>\n

In Part 2 of this review<\/a> we will set all this aside and talk about the profitability of the LifeBit <\/a>investment plans. In fairness, I have to note that there are many HYIPs that offer \u201cobscene\u201d investment plans like what I have just described. Fortunately, the minimum deposit required is so high that they are probably never utilized. So, the ability of a company to pay earnings on such a plan is never tested. As a result, programs such as this one can possibly survive for a long time since investment activity is usually confined to the lower yield investment plans.<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support Emily News<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article, please share it by using the social media buttons below.<\/p>\n","protected":false},"excerpt":{"rendered":"

This program has STOPPED paying! Do not invest there! Introduction. A few days ago, we wrote a \u201cFirst Thoughts\u201d article LifeBit. I\u2019m going to repeat the first paragraph of the article as it represents my … LifeBit — Review Part 1<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[591,593,595,602,603,594,600,601,596,597,592],"class_list":["post-2280","post","type-post","status-publish","format-standard","hentry","category-reviews","tag-httpswww-lifebit-ioid354","tag-lifebit","tag-lifebit-info","tag-lifebit-investment-plan","tag-lifebit-investment-program","tag-lifebit-news","tag-lifebit-review","tag-lifebit-scam-or-paying","tag-lifebit-update","tag-lifebit-updates","tag-lifebit-io","exalt-entry"],"yoast_head":"\nLifeBit - Review Part 1 - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=2280\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LifeBit - Review Part 1 | Fair and Fast HYIP News | EmilyNews | EN\" \/>\n<meta property=\"og:description\" content=\"This program has STOPPED paying! Do not invest there! Introduction. A few days ago, we wrote a \u201cFirst Thoughts\u201d article LifeBit. I\u2019m going to repeat the first paragraph of the article as it represents my … LifeBit — Review Part 1Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=2280\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-28T06:46:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-11-14T04:24:53+00:00\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"LifeBit - Review Part 1 | Fair and Fast HYIP News | EmilyNews | EN\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/emilynews.com\/blog\/wp-content\/uploads\/2017\/10\/lb-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=2280\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=2280\",\"name\":\"LifeBit - Review Part 1 - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=2280#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=2280#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.lifebit.io\/img\/b2.gif\",\"datePublished\":\"2017-10-28T06:46:51+00:00\",\"dateModified\":\"2017-11-14T04:24:53+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=2280#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=2280\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=2280#primaryimage\",\"url\":\"https:\/\/www.lifebit.io\/img\/b2.gif\",\"contentUrl\":\"https:\/\/www.lifebit.io\/img\/b2.gif\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=2280#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LifeBit — Review Part 1\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"LifeBit - Review Part 1 - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=2280","og_locale":"en_US","og_type":"article","og_title":"LifeBit - Review Part 1 | Fair and Fast HYIP News | EmilyNews | EN","og_description":"This program has STOPPED paying! Do not invest there! Introduction. A few days ago, we wrote a \u201cFirst Thoughts\u201d article LifeBit. I\u2019m going to repeat the first paragraph of the article as it represents my … LifeBit — Review Part 1Read more","og_url":"https:\/\/emilynews.com\/blog\/?p=2280","og_site_name":"EmilyNews","article_published_time":"2017-10-28T06:46:51+00:00","article_modified_time":"2017-11-14T04:24:53+00:00","author":"Emilynews","twitter_card":"summary_large_image","twitter_title":"LifeBit - Review Part 1 | Fair and Fast HYIP News | EmilyNews | EN","twitter_image":"http:\/\/emilynews.com\/blog\/wp-content\/uploads\/2017\/10\/lb-1.jpg","twitter_misc":{"Written by":"Emilynews","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=2280","url":"https:\/\/emilynews.com\/blog\/?p=2280","name":"LifeBit - Review Part 1 - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=2280#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=2280#primaryimage"},"thumbnailUrl":"https:\/\/www.lifebit.io\/img\/b2.gif","datePublished":"2017-10-28T06:46:51+00:00","dateModified":"2017-11-14T04:24:53+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=2280#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=2280"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=2280#primaryimage","url":"https:\/\/www.lifebit.io\/img\/b2.gif","contentUrl":"https:\/\/www.lifebit.io\/img\/b2.gif"},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=2280#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"LifeBit — Review Part 1"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2280"}],"version-history":[{"count":0,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2280\/revisions"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}