BTC Profits is a piece of Bitcoin trading software developed by Jason Walsy.
What does the product offer?
BTC Profits is a piece of software that creator Jason Walsy says will enable users to trade bitcoins. He says that BTC Profits makes this process easy and will require minimal resources.
How does the product work?
There isn’t any information available on how BTC Profits actually works. The only information that you can try and gleam comes from a few brief testimonials that state that even somebody who doesn’t know anything about the currency can use the software.
What is the initial investment?
BTC Profits is free to access as Jason Walsy says that he doesn’t believe any information should be charged for.
What is the rate of return?
Jason Walsy states that by using BTC Profits he has yet to have a month where he earns less than $500,000.
The claims made by BTC Profits appear to be nothing more than ludicrous fantasy. John Walsy states that BTC Profits doesn’t involve buying any bitcoins but that he is able to sell them for over $1,000 each. This straight away creates a contradiction that sits over the whole system. The fact is that the only two ways to earn bitcoins is to buy them or mine them. Since mining requires custom built PCs that are insanely intensive (many miners will use their PCs in air conditioned rooms to keep them cool enough), that rules out that as an option of obtaining the online currency. This only leaves buying them which BTC Profits apparently doesn’t do.
The second issue that I take with BTC Profits is the same issue I take with many products that utilise Bitcoin. They will advertise it as this miracle currency that has a value that can only continue to grow. At the moment there is an undoubted strong upwards trend in the value but there is no evidence to suggest that this can be maintained, especially given the fact that Bitcoin is the first currency of its type to go “global” so there is no historical evidence. The fact is that bitcoins provide nothing tangible, their value is quite literally what people put them at. This is problematic for a number of reasons as an investment. First and foremost is that the currency can crash at any given moment leaving you with a valueless product. Secondly is that there is no product to be rendered valueless. Even something such as a stock option or bond has an intrinsic value because they are backed by something tangible. Bitcoin has no such backing.
The final issue with BTC Profits lies in the setup of the product. There have been a number of recent binary options trading products that operate on this basis and it bugs me to no end. You the user receive the product for free, but in return you have to make a deposit with the creators chosen broker, usually because they couldn’t possibly trust another broker. What is actually happening is that the marketer is receiving a commission for referring you to them or I have wondered whether they are operated directly by brokers. Either way the software provided is usually sub-standard and doesn’t live up to the claims at all and I find no reason to believe that BTC Profits won’t also fall into this category. To top all this off though, the broker for BTC Profit isn’t even a Bitcoin trading broker, the website it takes you to, Option Rally, is a binary options trading site.