Many among us here are engaged into cryptocurrency trading and some might have encountered this exchange and token that I'm about to discuss. This is about YoBit.Net and their Virtual Token launched last Nov 29, 2017 known as Bitcoin Liza.
There are actually lots of controversies revolving about this token and the way how I see it, it seems that it's one of the most talked about topic on YoBit's troll box. So what are my thoughts about Bitcoin Liza?
Below is Bitcoin Liza's price chart for the past few months since it was launched.
As we can all see, there was a rise of price from the time that it was launched to approximately around 2 weeks before it drastically drops in price. And what makes the price go down so quickly? In my opinion, it's because YoBit offers 10% daily compounding interest for Liza coin for the next 2-3 months as per their tweet last Nov 29 but another tweet made last December 19, 2017 stated that Bitcoin Liza's investbox will remain for 2-3 years and either of the 2 hasn't been proven yet. Below is the image for the so-called Investbox.
Some among us here might say that this is so good to be true for same concept happens with Bitconnect and where is Bitconnect's lending now? Gone and its price? From $350 down to roughly $3 from the time of this post was created but what YoBit's Investment Plan (Investbox) offers is actually true and I can personally vouch for it that it is indeed paying and is 100% safe.
You might be asking, how can it be 100% safe? Let me answer that one for I used to ask the same question before. With YoBit's Investment Plan, you can cancel your investment ANYTIME! Thus giving you the control over your coin compared to other investment plan out there that restricts your access to your coin for a specific amount of time until it matures but that doesn't apply with YoBit's investbox. The only thing that you have to worry about is that coin's price.
I personally have invested on Bitcoin Liza and recovered my initial investment already and is now observing what will happen next. Below are the price chart for the past 1 month, 7 days and 24 hours respectively.
1 month chart
7 days chart
24 hours chart
As you might notice, there is indeed a huge dip in price but it actually doesn't matter. Some are actually afraid that the price continuously drops but if you will get the numbers right, the only thing that you will get is profit so long as you wouldn't sell it not until 8 days had past since you bought it and placed it under the 10% investment plan. Let me give you an example of how it is computed to give you better understanding on how it works and how will you profit. Check the image below.
In this example, 100 represents the initial quantity of Bitcoin Liza that you have, 1.1 represents the 10% growth on a daily basis and because it is compounding, so the following day actually gives you 10% of the Total Quantity of coins (Initial Quantity + 10% interest) and the last figure is for the number of days. To save you time, you can use the "x raise to y" feature in your scientific calculator as shown on the image below.
Based on the graph shown above, price keeps on declining so in the figures shown on the calculator, let's say that you initially bough it for 0.00004 BTC each so 100 x 0.00004 = 400,000 sat or 0.004 BTC. If you will keep it on the investment box for 15 days, your break even value is 0.00000958 BTC and anything above that is profit. Below is the current price of Bitcoin Liza.
In my opinion, you will never lose so long as you won't sell it too early. If the price drops, then wait for it to compound and then calculate your break even point. Yes it hasn't been clarified yet if the 10% investment plan for Liza will only be for 3 months and that will be this coming Feb 28 or it is really for 2 -3 years.
Either way I would highly suggest those who are planning to engage on it or has already invested on it that you can do the same thing that I'm doing wherein I'm selling 50% of my daily compounding profit to accumulate BTC as safety measure of course then if the price dips down too low then I'll buy again some and reinvest it.
I'll be writing another post soon whether Bitcoin Liza recovers its price and makes bunch of people win or the other way around. Thank you for taking time to read my post and...
Happy Valentines Day Steemians!