{"id":2284,"date":"2017-10-30T03:40:58","date_gmt":"2017-10-30T03:40:58","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=2284"},"modified":"2017-11-14T04:24:41","modified_gmt":"2017-11-14T04:24:41","slug":"lifebit-review-part-2","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=2284","title":{"rendered":"LifeBit — Review Part 2"},"content":{"rendered":"

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

Analysis of the LifeBit Investment Plan.<\/strong><\/p>\n

In Part 1<\/a> of this review, we attempted to explain how the LifeBit<\/a> investment plan is put together and raised some questions about the survivability of the program. In this part of the review, we will take a look at the profitability of the investment plan.<\/p>\n

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

Let\u2019s start with the 1.5% portion of the plan. I think that I will refer to dollar equivalents of the BitCoin amounts because it might be easier to think in those terms. You may recall that, in dollars, the minimum investment for this segment of the plan is around $6 and the maximum is around $180. In comparing different investment plans, we like to refer to daily net interest rate — DNI (See HYIP Insights #12<\/em> for an explanation. You can read it here<\/a>.). However, in order to evaluate DNI, we need to know the length of the investment plan we are considering. For a \u201cperpetual\u201d plan, there is no such animal. So, we will have to assume a life. Let’s start with an assumed life expectancy a little bit above the breakeven point for the plan. After that, we\u2019ll calculate the DNI using different life expectancies up to a full year.<\/p>\n

First of all, you get the time to break even by dividing 100% by the actual daily interest that is paid. So, dividing 100 by 1.5, we get a breakeven point of around 67 days, a little over two months. Knowing where to start, we\u2019ll calculate DNI assuming that the plan program survives for 90, 180, 270, and 360 days.<\/p>\n

Assuming a 90 day life to the program, the 1.5% part of the investment plan will pay a total GROSS interest of 135% (1.5 x 90). Subtracting 100% to account for the fact that we are tryng to recover our principal, you are left with a total NET interest of 35%. Dividing this by the 90 day assumed life of the program, we wind up with a daily NET interest (DNI) of 0.39%. If the program survives for 180 days, the total GROSS interest would be 270% and the total NET interest would be 170%. This would lead to a DNI of 0.94%. You could work out similar calculations for 270 and 360 days to get the following results:<\/p>\n

DNIs for 1.5% interest<\/u>
\n90 days: 0.39%
\n180 days: 0.94%
\n270 days: 1.13%
\n360 days: 1.22%<\/p>\n

It\u2019s important to understand exactly what these results mean. To put it in words, if you invest in the 1.5% interest level of the LifeBit investment plan and it survives for 90 days, ON THE AVERAGE you will earn a net daily interest — PROFIT — of 0.39%. This isn\u2019t very much by HYIP standards. However, if the program survives for a year, you will be making an average of 1.22% profit per day which is certainly acceptable. In general, it is easy to see that, the longer the program survives, the higher the income that you will make. This is what you would expect. However, looking at this chart, it appears that there is a limit to the DNI. It is probably easy to understand that it can NEVER be higher than 1.5% no matter how long the program survives.<\/p>\n

Now, let\u2019s take a look at the next level of the investment plan that pays 3.5% interest per day. Assuming that the program survives for 90 days, we get a total GROSS interest of 315% and a total NET interest of 215%. Dividing this by 90 days, we get a DNI of 2.39%. Repeating this calculation for 180, 270, and 360 days, we get the results that follow:<\/p>\n

DNIs for 3.5% interest\/day<\/u>
\n90 days: 2.39%
\n180 days: 2.94%
\n270 days: 3.13%
\n360 days: 3.22%<\/p>\n

Before I comment on this, let\u2019s make one more set of calculations, this time for 5.5% interest per day level of the plan. If you did this, you would get the following results:<\/p>\n

DNIs for 5.5% interest\/day<\/u>
\n90 days: 4.39%
\n180 days: 4.94%
\n270 days: 5.13%
\n360 days: 5.22%<\/p>\n

For the 3.5% part of the plan, DNI will max out at 3.5% and for the 5.5% part of the plan it will max out at 5.5%. Just to be sure this point is clear. Assume that the program survives for a very long time — 5,000 days. In that case the total GROSS interest is 27,500% (5.5 x 5,000). Subtracting 100%, the total NET interest is 27,400%. Finally, dividing by 5,000 days, the daily net interest (DNI) is 5.48%. This is very close to 5.5% which, as we already said, is the max DNI that is possible for this level of the perpetual plan.<\/p>\n

OK, I think that you can see where this is going. In the article in HYIP Insights #12<\/em>, we suggested that investment plans with DNIs of 2% or higher have a very slim chance of long term survival. Well, of all the levels of the LifeBit<\/a> investment plan, only the 1.5% level is in that category. This may be the most popular level. However, I suspect that enough people will invest in higher levels of the investment plan such that the company will have a hard time meeting its interest obligations. It is always possible that the program might be exceptionally successful in generating funds. And, of course, this is what we hope for. But, on the basis of this analysis, it appears that the cards are stacked against the long-term survival of this program.<\/p>\n

There is probably no need to work out an example with dollars and cents. However, it\u2019s extremely simple and quick to do so. For example, suppose that you invest $150 in the lowest 1.5% level of the investment plan. In this case you will earn $2.25 per day (.015 x 150). After 90 days, you total gross earnings will be $202.50 (90 x 2.25). Subtracting your initial investment of $150, you total net earnings (profit) will be $52.50. If, on the other hand, the program survived for a full year (360 days), your gross earnings would be $810 (360 x 2.25). Subtracting your initial investment of $150, you total net earnings (profit) would be $660. This really isn\u2019t too bad. I feel that it is unfortunate that LifeBit<\/a> promises interests in the higher levels of the investment plan that probably aren\u2019t doable.<\/p>\n

Other Features of the Program.<\/strong><\/p>\n

As I indicated earlier, all transactions with LifeBit<\/a> are in BitCoin. The minimum deposit is 0.001 BTC and the minimum withdrawal is 0.0025BTC. There is a fee of 0.0003BTC for every withdrawal. It is rare that an HYIP charges a fee for withdrawals. Perhaps this is meant to be a deterrent to discourage small withdrawals. This fee is around 10% of the minimal withdrawal amount. It is only significant for these small withdrawals.<\/p>\n

LifeBit<\/a> claims that withdrawals are instant. But, what about the BitCoin confirmation process? Deposits are not cleared until there is one confirmation of the transaction. Perhaps in the case of withdrawals, a person\u2019s account will show the amount withdrawn immediately. Then, there could be delay in getting funds from your LifeBit<\/a> account to your BitCoin wallet.<\/p>\n

LifeBit<\/a> has a typical referral program that pays 6%, 2%, and 1% on deposits in the first three levels of a person\u2019s downline.<\/p>\n

Support from LifeBit<\/a> is via email. They also have a Facebook page. However, at least at this point, there isn\u2019t very much activity there. Live chat would certainly be a great addition to their support offerings.<\/p>\n

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

In closing, and to paraphrase some of what I said above, I am not too impressed by the \u201cLegend\u201d presented by LifeBit<\/a> and the higher interest levels of their investment plan seem out of touch with reality. However, if the program can hold together for a while, there is the possibility for very lucrative returns. So, the adventuresome investor might want to take a chance with them. However, as we always advise, please make your investment a small part of a diversified portfolio and never invest more than you can afford to lose. Good Luck!<\/p>\n

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This program has STOPPED paying! Do not invest there! Analysis of the LifeBit Investment Plan. In Part 1 of this review, we attempted to explain how the LifeBit investment plan is put together and raised … LifeBit — Review Part 2<\/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":[591,593,595,599,602,603,594,600,601,596,597,592],"class_list":["post-2284","post","type-post","status-publish","format-standard","hentry","category-reviews","tag-httpswww-lifebit-ioid354","tag-lifebit","tag-lifebit-info","tag-lifebit-introduction","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 2 - 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=2284\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LifeBit - Review Part 2 | Fair and Fast HYIP News | EmilyNews | EN\" \/>\n<meta property=\"og:description\" content=\"This program has STOPPED paying! 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