AMFEIX - The First Blockchain Fund Built On Smart Contracts

ew-and-patterns (70) · 5 years ago (edited)

Show pictures of the interface, name the team, name some of the traders and show all-time historic proof of performance.

Maybe then I'll consider it.

10-20% return per month seems a bit shady to me. I myself am a trader and I know that only the top1% of traders can consistently average a return of 10-20% per month even when only trading bitcoin. That is a bold claim to make without offering any proof.

Do your traders only trade on margin with quick in and out trades? No algo trading?

$2.69

14 votes

crypto.piotr (70) · 5 years ago

I absolutely agree with you @ew-and-patterns

Indeed 10-20% rewards every month is not a sustainable business model and it always ends very same way.

It's a typical "hit and run" scenario and I would absolutely advise everyone to be very careful and think twice before investing.

Cheers,
Piotr

$0.00

amfeix (35) · 5 years ago

We do margin trading on BitMex and are also moving onto other exchanges to trade altcoins.

Traders names are not public as its in the best interest of AMFEIX that they stay with us.

The fund has shown proof of all funds and will continue to do so at the end of every month to prove all trades are real. I suggest you talk to our long time investors from 2017-2018 on the public telegram chat.

$0.00

dwaygner (32) · 5 years ago

te felicito sigue así!

$0.00

focusboysports (15) · 5 years ago

I had Bit coin connect wallet last year.how do I transfer my funds to a different coin?. I'm a sports card collector / blogger I like talking about sports cards

$0.00

scorer (58) · 5 years ago (edited)

They have pdf's with reports on their site.

In May 2019 AMFEIX fund generated a total return of 13.733% (after fees), during the same
period, the Standard and Poors 500 index (S&P 500) generated a negative return of 6.57%
therefore the difference between both investments is of about 20.31%. The fund outperformed
S&P500 by a difference of 20.30%, overall AMFEIX fund achived a total return in USD of 64.23%.

Currency Net change	May 2019
Bitcoin (BTC)	13.733%
USD ($)	63.529%

*USD net returns are given by the following function: [USD ($) = Fund net return + BTC net price change]

So, those fantastic returns are because of BTC price change and not because they are great traders.

$0.00

ew-and-patterns (70) · 5 years ago

Thanks, but this is not enough.
13.7% in one month, okay, but what about the last year in BTC bearmarket.
I would also like to know how they are regulated (if they are), if they do margin trading, on which platform do they trade, any algo trading involved and of course the people behind this etc.

$1.16

6 votes

focusboysports (15) · 5 years ago

I had Bit coin connect wallet last year.how do I transfer my funds to a different coin?. I'm a sports card collector / blogger I like talking about sports cards

$0.00

focusboysports (15) · 5 years ago

I had Bit coin connect wallet last year.how do I transfer my funds to a different coin?. I'm a sports card collector / blogger I like talking about sports cards

$0.00

ew-and-patterns (70) · 5 years ago (edited)

...

$0.98

9 votes

jwolf (70) · 5 years ago

I second this

$0.00

knircky (73) · 5 years ago

I dont quite understand.

You say the funds are managed by a smart contract, but then people are managing the money and put them into cold storage?

That is confusing. Am i giving the money to a company or to a smart contract.

$1.11

8 votes

bullionstackers (71) · 5 years ago

Welcome @amfeix to Steemit
Please Do Not Downvote Anyone as a New Comer.
Due Respects many are reading; Pro/Con as I am trying to get some idea of your Business.
Your Downvote is Like Micro-Organism bites.
Please Don't!
Moderator for #Whalepower

Equal Fairness for Everyone.

$0.55

12 votes

devann (61) · 5 years ago (edited)

I have read all the comments here and would like to draw the attention of the readers to a review of AMFEiX I wrote about 19 days ago here. Please read it before proceeding with my observations below.

If you click on the "Company Registration" link in my post referred to above, you will notice that AMFEIX was originally registered in UAE as a "one owner company". However, if you now click "Company Registration" link on the AMFEIX website it shows the company is currently registered in Indonesia as a "two owners company". AMFEIX needs to explain this change in registration and explain why they are not choosing countries with strict financial supervision requirement.
The registration document is in Indonesian language. I would expect any serious business catering for the worldwide audience to provide a legal and official translation of the said registration document from Indonesian to English at the least. I am sure most of AMFEIX investors don't understand Indonesian.
It appears from registration document that AMFEIX has registered a private limited company in Indonesia with a paid-up capital of less than $9000. The company has one director and one commissioner, which are minimum requirement under Indonesian law to have a private limited liability company. Under the Indonesian law a commissioner is someone who advises and supervises the board of directors. The commissioner need not be a shareholder. In my opinion, for a company that accepts deposits for investment, a paid-up capital of less than $9000 is simply ridiculous.
It is my understanding that if a company conducts financial services in Indonesia it is required to have a license issued by the Financial Services Authority of Indonesia (known as Otoritas Jasa Keuangan or simply OJK in Indonesian). There is no evidence that AMFEIX has obtained such license. If there is an exemption granted to AMFEIX, that exemption letter should be displayed on the website for the sake of transparency.
With regards to obtaining licenses, I would like to refer readers to another of my instructive post here. Please note that even in a first world country like Switzerland investors were duped into investing and lost money. Indonesian laws are definitely not as stringent as that of Switzerland. Indonesia is an emerging market as per MSCI market classification, which simply means their market regulations are not as good as a developed country.
In its reply to a comment by @ew-and-patterns, AMFEIX said "Traders names are not public as it is in the best interest of AMFEIX that they stay with us." This is truly a lame excuse. If AMFEIX wants to retain their "skilled traders and analysts" they could do so with contractual stipulations such as paying bonuses and incentives in staggered manner, say 50% in January and the balance 50% in June. Staff who resign earlier would lose the bonus. This is just one proven method to retain good staff. There should be others.
Although the names of the commissioner and the director are given in the registration document, no details of their credentials are made available. Surely the investors are entitled to know this because they are asked to trust these guys with their money.

cc @scorer @jwolf @cryptogee @theguruasia @coincollecto @oneshot
@indigoocean @solarwarrior @svemirac @jdkennedy @aggroed @runicar

$0.52

17 votes

solarwarrior (63) · 5 years ago

Excellent work.
This was exactly what I was referencing to.

$0.53

haikubot (54) · 5 years ago

Excellent work. This
Was exactly what I was
Referencing to.

^{- solarwarrior}

^{^{I'm a bot. I detect haiku.}}

$0.44

solarwarrior (63) · 5 years ago

dear bot please show me the haiku proof.. I doubt that someone wrote exactly the same words I wrote.. hence you might be broken..

$0.45

devann (61) · 5 years ago

@solarwarior, @haikubot is complimenting you by saying that your comment is written in the form of haiku, a Japenese poem.

$0.42

solarwarrior (63) · 5 years ago

oh.. I thought it is like cheetah bot.. ;-)

$0.45

focusboysports (15) · 5 years ago

I had Bit coin connect wallet last year.how do I transfer my funds to a different coin?. I'm a sports card collector / blogger I like talking about sports cards

$0.00

steemcleaners (83) · 5 years ago

Source
Spamming comments is frowned upon by the community. Continued comment spamming may result in action from the cheetah bot.

More Information:
The Art of Commenting
Comment Classifications

$0.56

12 votes

devann (61) · 5 years ago

Please don't post your question over and over again all over. You may annoy someone and may get downvoted.

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indigoocean (67) · 5 years ago

Good research. Thanks for the ping.

Posted using Partiko iOS

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retinox (64) · 5 years ago

Good work done 👍

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devann (61) · 5 years ago

Thanks @retinox

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crypto.piotr (70) · 5 years ago

Seriously amazing comment @devann

Thx for sharing with us.

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amfeix (35) · 5 years ago

The reason for this is Indonesian Law did not allow company to be held by one person only, doesn't matter how much you pay or set up, there will be no room at all for any company to be held by one person, since its a branch of AMFEIX it should not be a problem who is the owner of the branch as long as AMFEIX central issued a legal appointment. The 1st observation is answered by itself, we just obey the rules of Indonesia with no any side agenda or whatsoever. AMFEIX didn't change the registration from UAE we have both and will have more in the future such as AMFEIX Malta. So there has been no change in registration as both are still valid.
It doesn't matter what language the registration is in as long as its regulated (which it is) it shouldn't matter.
Again, this is how Indonesian regulation works, you can't really argue about it actually, the way the government handles things is different, with that capital we can legally do business with any amount of money, we are obeying the Indonesian rule. If for the company deposits we had to pay more we would, but if that amount of paid up capital is enough for us to do business why do we have to put more when we don't get any more benefit from it.
The important thing is we work with btc capital not fiat, and in Indonesia we still don't have any legal paperwork to do business with btc capital, as we continue our business, AMFEIX is on process negotiation with several official government and religious organisations in order to get more legal protection and sense of security for our investors. Due to local regulation that will take time and the right partner to do so. Even for the local company to get approved by OJK takes quite some time and effort to do so, AMFEIX is in the process as we speak.
At AMFEIX we've never compelled people to deposit capital, we are trying to get all the documents and licenses ready at the earliest time possible, but during due time it is investor's self policy to deposit capital or not, we give a lot of proof of work unlike many of the other companies, we are happy to support the decision made by our prospective investors.
Our traders will be made public this month to further improve our transparency. We have done a fund audit which we have seen very few to no other crypto companies do successfully this is very important as this proves all trades are actually being made and increases investor confidence. All BTC managed by AMFEIX has been proven and shown to investors.
We are waiting and preparing our company to have more legal protection than we will announce the credentials for the owner of the company. AMFEIX is ready to reveal everything, when the time is right, and it is needed going to do so. As for how we invest we have shown more transparency than any other company and will continue to do so. AMFEIX is going to be here as one of the leading crypto companies in the near future, we will continue to strive in that path.

$0.00

devann (61) · 5 years ago (edited)

By and large, you have not answered the issues raised directly and explicitly. You have skirted around the issues and have obfuscated, either by design or sheer ineptitude, your readers rather than enlighten them with your purported answers.

It is clear from your purported answers that you have not even understood many of the issues raised. Engaging with you in a discussion is akin to dealing with a person lacking in comprehension and therefore will only lead to more balderdash from your side and frustration on my and the readers' part.

Personally, I would like to see you providing information such as that provided by gemini.com here. In addition, I would also like you to appoint one of the Big4 auditors as your auditor and produce monthly attestation reports similar to this to show proof of funds and that your accounts are audited in accordance with acceptable international auditing standards, and that you mean business.

$0.42

8 votes

data.plus (54) · 5 years ago (edited)

Yes, these are the things that ought to be done to instill confidence in the investors and to show that AMFEIX is professional in its dealings. Plus Amfeix should keep client's assets not in active trade with a licensed custodian for maximum security.

Thanks @devann for the well articulated comments.

$0.04

amfeix (35) · 5 years ago

The reason for this is Indonesian Law did not allow company to be held by one person only, doesn't matter how much you pay or set up, there will be no room at all for any company to be held by one person, since its a branch of AMFEIX it should not be a problem who is the owner of the branch as long as AMFEIX central issued a legal appointment. The 1st observation is answered by itself, we just obey the rules of Indonesia with no any side agenda or whatsoever. AMFEIX didn't change the registration from UAE we have both and will have more in the future such as AMFEIX Malta. So there has been no change in registration as both are still valid.
It doesn't matter what language the registration is in as long as its regulated (which it is) it shouldn't matter.
Again, this is how Indonesian regulation works, you can't really argue about it actually, the way the government handles things is different, with that capital we can legally do business with any amount of money, we are obeying the Indonesian rule. If for the company deposits we had to pay more we would, but if that amount of paid up capital is enough for us to do business why do we have to put more when we don't get any more benefit from it.
The important thing is we work with btc capital not fiat, and in Indonesia we still don't have any legal paperwork to do business with btc capital, as we continue our business, AMFEIX is on process negotiation with several official government and religious organisations in order to get more legal protection and sense of security for our investors. Due to local regulation that will take time and the right partner to do so. Even for the local company to get approved by OJK takes quite some time and effort to do so, AMFEIX is in the process as we speak.
At AMFEIX we've never compelled people to deposit capital, we are trying to get all the documents and licenses ready at the earliest time possible, but during due time it is investor's self policy to deposit capital or not, we give a lot of proof of work unlike many of the other companies, we are happy to support the decision made by our prospective investors.
Our traders will be made public this month to further improve our transparency. We have done a fund audit which we have seen very few to no other crypto companies do successfully this is very important as this proves all trades are actually being made and increases investor confidence. All BTC managed by AMFEIX has been proven and shown to investors.
We are waiting and preparing our company to have more legal protection than we will announce the credentials for the owner of the company. AMFEIX is ready to reveal everything, when the time is right, and it is needed going to do so. As for how we invest we have shown more transparency than any other company and will continue to do so. AMFEIX is going to be here as one of the leading crypto companies in the near future, we will continue to strive in that path.

$0.00

focusboysports (15) · 5 years ago

I had Bit coin connect wallet last year.how do I transfer my funds to a different coin?. I'm a sports card collector / blogger I like talking about sports cards

$0.00

focusboysports (15) · 5 years ago

I had Bit coin connect wallet last year.how do I transfer my funds to a different coin?. I'm a sports card collector / blogger I like talking about sports cards

$0.00

solarwarrior (63) · 5 years ago

This is wrong in so many ways!
Also one could appreciate the fact that steeminc derives some add-revenue from such clients, money does not justify all action. There has to be a red line and someone claiming:
AMFEIX claim that previous performance suggests a return of between 10% and 20% per month on your investment
stepped clearly several yards over it.

Everybody that has some trading or investment experience knows that monthly returns of 10% to 20% are impossible to achieve and even if you judge that this is neither a forecast or promise, its clearly the picture amfeix wants to put in your head.
And I am sure you gentlemen know, that this is not possible, too.

So what will you do?
Either you seriously try do do it with trading, long and short (/cash) - based on whatever trading strategy - and you actually believe you have a coin flipping winning streak of 100 tosses heads straight.. then you might be able to show this 10 to 20% monthly return for a full year

or you simply go long any coin and pray that it will double or quadruple over the next month and then the investor gets 80% of the 100% he would have had if he invested directly into the coins.
Both has no value at all for anybody "investing" into your "fund".

How could you have done it in a way that doesn't cross the red line?
Explain your strategy and trading pattern, and then explain why you believe you have an edge over all the other traders. (it could be that you actually have an edge over other traders because of x,y,z..)

But then again you should not point to 10 or 20% monthly returns..
.. you could claim that your overall performance .. due to your edge.. should systematically outperform a basket of crypto currencies or bitcoin...
...these would be by far bold enough claims!

And to anybody here asking not to downvote amfeix post: if not this post, which post should be downvoted at all? Yes.. I get your good intention.. but the first steemians loosing their money in this "fund" instead of purchasing steem and leaving this community will already be enough to render the advertisement money worthless.. not speaking of enraged "investors" calling he SEC and steeminc and the steem community having to bear the consequences...

I doubt that it was a clever decision of steeminc to have a business relationship with amfeix but OK.. this is the blockchain.. its free and self regulating.. hence downvotes and critical feedback are in this case very much justified and necessary...

$0.49

9 votes

crypto.piotr (70) · 5 years ago

I absolutely agree with @solarwarrior

Indeed 10-20% rewards every month is not a sustainable business model and it always ends very same way.

It's a typical "hit and run" scenario and I would absolutely advise everyone to be very careful and think twice before investing.

Cheers,
Piotr

$0.39

oneshot (55) · 5 years ago

I've tested the service: 0.021btc in about 10 days with about 0.5btc invested. Ok, this means nothing, just a testimony of experience.

$0.03

crypto.piotr (70) · 5 years ago

Dear @oneshot

So you've invested something around 6.5k usd and you received around 250usd worth of BTC after just 10 days?

That is raising enormous red flag. That's like 4% within less than 2 weeks. I cannot think of any legit business model (except of ponzi) that would allow to benefit investors so greately.

Yours
Piotr

$0.00

amfeix (35) · 5 years ago

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Reveal Comment

solarwarrior (63) · 5 years ago

THX for the downvote and your copy paste answer that does not fit to any of my points...
... but actually fits very much to what I expected...

$0.47

crypto.piotr (70) · 5 years ago

They are ridiculous @solarwarrior

$0.36

theguruasia (67) · 5 years ago

@amfeix,
Trading by investment - for me it's a MYTH and my all previous experiences said all those trading based investment sites ended up with the name of "SCAM". If you have funds do your own trading or try to hold STEEM (STEEM POWER)
It might be worthier than invest on these type of places that purely runs on PONZI schemes!

I am not down voting posts, but here I am doing it! Coz I don't trust this sponsored article!

Cheers~

$0.09

6 votes

amfeix (35) · 5 years ago

We've shown proof of all funds and will continue to do so every month :)

$0.00

theguruasia (67) · 5 years ago

@amfeix,
Every scammer said this at the beginning lol :D

Cheers~

$0.08

amfeix (35) · 5 years ago

Your statement makes no sense, AMFEIX is pending registration and/or register in 4 countries including Malta. Showing all funds is the maximum level of transparency something which most of the large exchanges don't even do.

$0.00

theguruasia (67) · 5 years ago

@amfeix,
Do you think I don't know about HYIPs and PONZIs! Yeah most of them are registered at UK and Malta! Sometimes you might try this purely, but for me you are heading into troubles by this business model! So, better trade with your won money and the pain might be lesser than gambling with others funds as well!

Cheers~

$0.07

amfeix (35) · 5 years ago

Its true you don't know how HYIPs and Ponzis work because those companies can't prove the funds that back their accounts, but we can which clearly distinguishes us. Its known as Proof of Funds and we've done it.

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theguruasia (67) · 5 years ago

@amfeix,
Yeah I don't know how HYIPs, PONZI works, but I know how you guys are planning to scam people!

Cheers~

$0.06

4 votes

amfeix (35) · 5 years ago

Such unprofessionalism.

"A fool is wise in his eyes". King Solomon

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Show 2 more replies

jdkennedy (52) · 5 years ago

There was another group a couple of years back that was similar. I think it was called bitconnect. They did bitcoin lending and other “investments”, as well as hosting a social media platform. I was in early, made a reasonable profit, then pulled everything out. They were later shut down and dissolved, I think by government action, but I’m not sure on that (it was more than a week ago and I’ve slept since then).

Bottom line, it might be safe to try with your spare change, pull out your initial investment as soon as you get ahead, then either stay in for another xx% growth and pull back to the sidelines or get out altogether. Even crooked hyips will be in for a good run, and if these folks are legit, you can rejoin later.

$0.04

4 votes

amfeix (35) · 5 years ago

We've shown proof of all funds and will continue to do so every month to distinguishing us from these other companies.

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nextgen622 (71) · 5 years ago

Good to hear. Transparency is important.

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drutter (69) · 5 years ago

Downvoted for spamming my feed.

$0.03

7 votes

cryptogee (75) · 5 years ago

Right so if you lose my money the risk is all mine, but if you make some, you take 20% sounds legit.

This is a terrible idea and the way you word it is the exact reason why financial authorities around the world force people like you to put the very important words into their advertising:

investments can go down as well as up.

$0.02

4 votes

amfeix (35) · 5 years ago

We don't guarantee profit as this is not possible. However you should look at our previous results.

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coincollecto (50) · 5 years ago

t looks like a platform like other of its kind. Give us money, and our specialists will multiply your assets. As soon as they arouse confidence, suddenly it turns out that they have not completed the formalities and the financial supervision commission SEC freezes accounts and you stay with nothing. Experience with the AIRGRAB platform. I'm out. Greetings.

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amfeix (35) · 5 years ago

SEC can't freeze Bitcoin this is what decentralised means :)

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josephj (31) · 5 years ago

That's silly. If my BTC is in your account being traded and you get arrested, etc. The BTC may still be there, but it's effectively frozen because you have its address and I don't. And unless you've hidden your addresses perfectly - probably impossible to do once they seize your computers, then they can get some or all of it. BTC is great, but it's not magic.
I'm leaning toward dipping my toes in, but statements like this worry me.

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indigoocean (67) · 5 years ago (edited)

Reading the comments, it seems people have been burned by other investment platforms, so they can't believe in genuine transparency by any... or that someone might make a living successfully trading other people's money for a % rather than just trading their own money. It's the old, "if they are so good at making money, why are they teaching it to others?" trope.

Yet there have been billion dollar investing funds all around the world for quite some time when it comes to stocks, bonds and commodities. I see no reason why there couldn't be for crypto too. Your fee is pretty steep at 20% when such actively traded funds typically only charge more like 3-10%, but it seems you're splitting that 20% 50-50 with referrers as your marketing model.

Well, I wish you the best. For an American investor this can be a very good option for growing one's BTC without generating taxable events. If an American was to actively trade the exact same trades you're making in the fund, they'd lose all profits to taxes on every single leg of the trade within a rising market. But if they invest, they only owe taxes on the profits they pull out. They aren't doing the trades, and I'm guessing you aren't Americans, so don't owe taxes on the trades you're doing. Very smart.

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solarwarrior (63) · 5 years ago (edited)

@indigoocean: you have any reference on the statements you make in regards of taxes?

$0.38

indigoocean (67) · 5 years ago

Take a look at the tax law for the US. Since 2008 the new tax law has said that Americans owe taxes on every trade, even if they are just selling BTC to buy an altcoin. Just do a search.

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solarwarrior (63) · 5 years ago

yes I get this.. but why should it be any different if it is in a fund?

$0.37

indigoocean (67) · 5 years ago

Well you don't owe taxes on someone ELSE's trading. Think of investing money into a mutual fund with say Vanguard. Do you even know what trades they are making on your behalf? Of course you don't. You just pay taxes on the profits when they go into your account. Same thing.

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amfeix (35) · 5 years ago

Thank you :)

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oneshot (55) · 5 years ago

What does this button exactly do? Isn't the investment auto-operative after sending btc to the wallet aderess... ?

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amfeix (35) · 5 years ago

Hi. For thank you for getting in touch. For technical support please contact the live chat support on AMFEIX.com

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cariizphilips (27) · 5 years ago

Please follow me back @cariizphilips
Your votes on my hunt needed

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edidem (25) · 5 years ago

This is a great opportunity

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rocksg (69) · 5 years ago

We want some proofs here not just talking.

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goldmatters (74) · 5 years ago

How do you get a sponsored tag?

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sames (65) · 5 years ago

by paying Steemit money

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livinglikemike (25) · 5 years ago (edited)

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steemitboard (66) · 5 years ago

Congratulations @amfeix! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

	You got a First Vote
	You received more than 10 upvotes. Your next target is to reach 50 upvotes.

_{You can view your badges on your Steem Board and compare to others on the Steem Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

$0.00

jportreau (25) · 5 years ago

My initial reaction to AMFEIX was: this seems to be too good to be true and then it usually is. Something in me wanted to give it a try and back in June I did my first deposit of 0.2btc. Until today the service is operational and withdrawals etc just work. Ofcourse that is no guarrantee for the future but as each day passes they are building their track record.
I did a more extensive review and analysis at: AMFEIX review and analysis.

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cryptocorn (26) · 5 years ago

Upvoted!

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svemirac (71) · 5 years ago

Can you explain:
pseudo- anonymous blockchain trading???

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cryptogee (75) · 5 years ago

Of course they can't. However I can:

pseudo-anonymous blockchain trading = bullshit scam.

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amfeix (35) · 5 years ago

pseudo-anonymous means you prove your ownership with your Seed keys without having to give your identity :)

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sames (65) · 5 years ago

I here just bc I saw the sponsered part in my feed. Great that steemit adding revenue earning product

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universeofalbert (40) · 5 years ago

I will start using bitcoin if it becomes more safe to use. there is a few apps that make me feel unsafe and i dont like it so far. ill keep using george washingtons until then.

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justtryme90 (71) · 5 years ago

Sponsored content.. good. I'd like to see more of this. Pays for development. Good for all STEEM holders and content creators.

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mrnazrul (68) · 5 years ago

I do not understand good things, because it is not enough solution.

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