{"id":2507,"date":"2017-11-23T04:00:18","date_gmt":"2017-11-23T04:00:18","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=2507"},"modified":"2018-05-29T12:27:42","modified_gmt":"2018-05-29T12:27:42","slug":"octoin-review-part-1","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=2507","title":{"rendered":"Octoin — Review\u00a0Part 1"},"content":{"rendered":"

This program moved to CLOSED! Do not invest there!<\/strong><\/p>\n

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

In the way of an introduction to Octoin<\/a>, I am going to repeat what I wrote in the First Thoughts article that we published a few days ago.\u00a0 It provides an overview of our take on how the company operates as well as a few preliminary impressions on the Octoin<\/a> investment plans.\u00a0 If you prefer not to read this again, please skip ahead to the next section entitled \u201cAnalysis of Octoin’s “Trading” Investment Plan.\u201d<\/p>\n

We just began a \u201cGold\u201d listing for Octoin<\/a> on the Emily News monitor.\u00a0 The Company has been online since early this month.\u00a0 So, it is a fairly new \u201ckid on the block.\u201d\u00a0 According to its website, \u201cOctoin<\/a>\u00a0is an international company founded in the beginning of 2016 as a result of the merger of the strongest traders team from the UK and Singapore, and the creators of the largest mining pools from the northwestern provinces of China. Due to the merger, it became possible to realize the main idea\u00a0of Octoin<\/a>, i.e. the pooling of capitals for professional trading at maximum volumes, investments in proven ICO companies, and the use of efficient technologies in the mining of the main cryptocurrency, as well as a number of promising altcoins.\u201d\u00a0 So, it is one of many companies that offer online investment plans that are involved with both crypto currency mining and trading.\u00a0 Generally, I am skeptical about companies that claim to be involved with both these activities as they would appear to requite expertise in significantly different areas.\u00a0 However, Octoin addresses this concern where it enumerates a total of NINE different departments in its organization.\u00a0 Addressing my concern, there is the Trading Department which is involved with \u201cconducting trading on top-level cryptocurrency trading grounds\u201d and the Mining Department that provides \u201ctechnical support of existing mining farms, support of computing capacity, replacement and upgrade of equipment, expansion of computing capacities and farm areas.\u201d\u00a0 So, Octoin<\/a> appears to be a very large operation.\u00a0 Unfortunately, like most HYIPs registered as a corporation in the UK, Octoin<\/a> is a one man show.\u00a0 It has one director who also serves as the corporation\u2019s secretary (there is no treasurer?) and this person also holds the single share of stock issued by the company.\u00a0 Although it is certainly not impossible, this would seem to be a strange way for a company supposedly of this magnitude to organize itself.\u00a0 I have set up a few non-profit corporations and we at least had officers and a board of directors listed on our incorporation papers.<\/p>\n

But, all this aside, Octoin<\/a> has a truly remarkable website.\u00a0 There is so much information in it that it can easily overwhelm the reader.\u00a0 It appears that a person can invest in Octoin\u2019s<\/a> trading activities or mining activities as separate transactions.\u00a0 Octoin<\/a> even has its own cryptocurrency called OctoinCoin that can enter the picture.\u00a0 When we review the program (which will be in a few days from now) I will limit the scope of the review to the investment activities that a person can get involved with by means of Octoin<\/a>.\u00a0 After all, this is the purpose of a HYIP monitor.\u00a0 As far as Emily News is Concerned, we always emphasize the two things that we feel are the most important to the investor: information about the company and information about the profitability and reliability of the investment plans that it offers.\u00a0 Although Octoin<\/a> has a lot of \u201cbells and whistles,\u201d we will try not to let the peripheral information obscure what we are really interested in.<\/p>\n

I have already commented on the company.\u00a0 In the way of a very brief introduction, Octoin<\/a> really only offers a single investment plan.\u00a0 Like many investment plans, it pays interest on a daily basis and returns your principal at the end of the plan.\u00a0 However, the plan has a number of unique features.\u00a0 Most significant is that YOU can choose the length of the plan.\u00a0 You can select 30, 60, 90, 120, or 150 days.\u00a0 The longer the plan, the greater your interest will be — but only by a very small amount.\u00a0 This is additionally complicated by the fact that the interest you are paid varies slightly on a day by day basis.\u00a0 However, it remains in the neighborhood of 1% per day.\u00a0 So, looking at the investment aspect of the program from a distance, you would probably classify it as a conservative medium to long-term pan, conservative because the interest rates are rather low.\u00a0 We will carefully examine the profitability of the Octoin<\/a> investment plan when we review the program.\u00a0 At that time, we will also take a look at how the investor can earn money with the mining aspect of the program.\u00a0 Please stand by for the review.<\/p><\/blockquote>\n

Analysis of Octoins\u2019 \u201cTrading\u201d Investment Plan.<\/strong><\/p>\n

My take on Octoin<\/a> is that there are two primary ways in which an investor can make money with the company.\u00a0 These are by means of its \u201cTrading\u201d activities and by means of its \u201cMining\u201d activities.\u00a0 As I indicated above, you can choose whether you would like to invest for a 30, 60, 90, 120, or 150-day long trading period.\u00a0 The daily interest you will receive for any length of plan will be in the neighborhood of 1%.\u00a0 However, it varies from day to day.\u00a0 The website does give you the interest that each of these subplans made in the past 30 days, so you can get an idea as to how profitable an investment might be.\u00a0 For example, right now, it indicates that the 30-day plan earned 29.11% in the last 30 days.\u00a0 This also means that, in 30 days, if, for example, I invested $100 in the 30-day plan, I would earn $29.11 in profit.\u00a0 If you divide 29.11 by 30 (and multiply by 100), you get the average percent earnings per day which is 0.97%.\u00a0 Since your principal is returned to you at the end of the plan, this is your DNI or daily net interest.\u00a0 If you do the same arithmetic for the other length plans you get the following results:<\/p>\n

Days in Plan<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 % profit in 30 days<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 DNI %<\/strong><\/p>\n

30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29.11\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.97<\/p>\n

60\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 30.49\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.02<\/p>\n

90\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 31.88\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.06<\/p>\n

120\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 32.57\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.09<\/p>\n

150\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 33.26\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.11<\/p>\n

Looking at this little table, a few things should be clear to you.\u00a0 First, the DNIs are all very close to 1%.\u00a0 As we pointed out in HYIP Insights #12<\/em> (that you can read here<\/a>), programs with investment plans in range of 1% or less should have a very good chance of long-term survival.\u00a0 Programs with plans having DNIs greater than 2% might not survive.\u00a0 And, programs having plans between 1% and 2% could go either way.\u00a0 Well, all the Octoin<\/a> plans are very much on the safe side.\u00a0 So, investing in Octoin’s<\/a> Trading investment plan has the potential of being a safe long-term deal.<\/p>\n