Gladiacoin Bitcoin Journey
Article created on May 8, 2017
Is Gladiacoin a scam? Or is it a legit Bitcoin investment company? This website post is actually my journal and documentation on the path I am taking, going into Bitcoin and Gladiacoin investing.
First of all, what is Bitcoin?
It is a cryptocurrency. A currency used online and is pseudo-anonymous. Not regulated by any government. In the past, I have tried to work with Bitcoins, opening wallets, etc. No luck so far.
What is Gladiacoin?
Here's the story. My friend Michel Gerard (MG) who is a veteran in making money on the Internet, or using Internet effectively as a marketing tool for his businesses, is saying great things about Gladiacoin. Naturally, my curiosity arose, so I asked him. Turns out, Gladiacoin functions like any other HYIP. Deposit money, wait, collect interest. It also has MLM properties. You can refer people under you, and you collect more interest. However, without doing any of this, you can still generate interest. Just not that fast.
Is Gladiacoin a scam?
I'm not entirely sure. Surely a lot of people will just scream "scam"! But I can see that Gladiacoin has an active Facebook support group. Not an official one, but still, they mean business. I was even added there. Lots of people posting their investment returns. They get paid straight into their wallet, from what I read, and not collected in their Gladiacoin account, awaiting withdrawal. So let's say you invest 0.1BTC. You get 0.1BTC interest after 9 months. All is paid into YOUR Wallet. Nothing to do with Gladiacoin anymore. Sounds safe. You would have nothing to lose when you reach that point. Even MG is into this. So this all points to the direction that Gladiacoin is not a scam. However, I am unable to find Gladiacoin's company info. I am told that they need to stay anonymous to protect themselves from external attacks. This raises a flag though. What about the method they generate money? On their website, it says that they do arbitrage Bitcoin trading. There are lots of different exchanges with different bitcoin values.
I have read unrelated websites and blogs mentioning this strategy, which is very profitable indeed. In the end, my verdict was that Gladiacoin has a higher chance of being legit, than a scam. My decision was to try out Gladiacoin. Why?? Well, I thought:
- if I don't join and Gladiacoin is a scam, I save a few hundred dollars!
- If I join and Gladiacoin is a scam or doesn't work out well, I lose a few hundred dollars, take it as a setback in my life and a learning experience, and I move on. Life is full of setbacks, this will just be another one.
- If I join Gladiacoin and it is NOT a scam and it works out, I will be very delighted, having jumped aboard a magnificent opportunity!
- If I don't join Gladiacoin and it takes off WITHOUT me, I will regret it for the rest of my life... Good opportunites are hard to come by.
Hence, I decided that I would try out Gladiacoin. Work or fail,
let's see what the future holds. I try my best to approach it with as little emotions as possible clouding my judgment. I won't let negativity or even "positivity" affect me. I will take every step as carefully as possible!
2017/05/07 : First step for me is to get my wallet. I need to make sure I can connect it to my bank account, to withdraw money, deposit money, send and receive bitcoin... It happens that it is not so simple. Most online wallets require ID and address verification. Some allow me to deposit money via bank transfer. Some allow credit/debit cards. More difficult to find the Paypal deposit ones. MG told me Paypal and Bitcoin don't work so well. Higher fees. The first website I tried was called "Coins". I went through a selfie and ID verification. Everything was quite slow. I had to wait for the verification to be made. I didn't see any withdrawal options. Maybe I had to get verified first? I got impatient and tried another wallet site. The second site I tried was Luno. Luno was better. I just needed to verify to level 1, which just required email verification, personal details and phone. They only require the ID and address verification for higher levels where the withdrawal limit is higher. Not that I mind doing the verification. What I mind is the waiting...
2017/05/08 : I transferred about 0.1 BTC to Luno, but in my local currency. I completed the bank transfer, following their instructions. I was told that the funds would be added to my Luno account within 2 days. So I will await May 10 to see what happens and proceed with the next step, before I get some bitcoins for Gladiacoin.
The money arrived in Luno. It seemed that their processing is quite fast. I proceeded to create a Blockchain Wallet that would be used to receive funds from Gladiacoin. Then I joined Gladiacoin, under MG. I sent 0.1BTC to them from my Luno account, with some fees incurred. The money supposedly would take 1 hour to be processed. At this point, there was a risk. If they don't process the 0.1BTC, that's it. Game over. But I'll wait. Let's see what happens. MG is great by continuing to provide me with support.
Inside Gladiacoin, I typed in my Wallet Address from Luno to receive interest from Gladiacoin. I was advised to set up 2-step Authentication. But I think I'll try using the site without the 2-step thing first. Another thing is that once the money in GC doubles, I have one day to decide what to do next. According to my friend MG, GladiaCoin will actually send EVERYTHING directly to my wallet, so now that I started with 0.1BTC, at the end of the cycle (90 days), I would have 0.2BTC in MY WALLET! (provided GC works out and is not a scam in the end).
Now it's been a while. How would I know if the 0.1BTC got through to Gladiacoin? It doesn't say anywhere. But according to MG, if I don't see a page with a blue button telling me to "Pay by Bitcoin", the funds should have gone through. Everyday I will have to wait and if I want, I can check the statements (Financial Tab > Statements) to see interest earnings in green. In red means it's been sent to my bitcoin wallet. In the "Dashboard" section, Current BTC is 0BTC, and it says 0.00%, and Max BTC is 0.2BTC. The goal is to just WAIT until Current BTC becomes 0.2BTC. And it will be 100%!
[Started out 0BTC. Goal is 0.2BTC!]
2017/05/09 : Overnight, not even 24 hours yet. I got a 1.11% return. 0.0022 BTC. This translates to about USD$3.75 at this time.
2017/05/10 : Today is Wesak Day. OK, it seems that the earnings will arrive at around 1AM to 1:15AM Singapore time GMT+8. 2nd day, received the same amount. Now at 444,444 Satoshis, which should be around USD$7.64!
2017/05/13 : Saturday. I've become a Millionaire. I got more than 1,000,000 Satoshis! Well, 0.0111111 Bitcoins to be exact. Hehehe. 2 million more Satoshis and I would be eligible for a withdrawal. I guess I will have to wait 10 more days.
2017/05/14 : Bitcoin/USD reached USD$1800. When I bought 0.1BTC, the price was USD$1557/BTC. Which means, there was an increase of around 2,430,000 pips! Increased by 0.1561. I paid around USD$155.70 for 0.1BTC. So my 0.1BTC is worth USD$180. Profit $24.30!! For now. Because... there is no telling whether this price will hold.
2017/05/16 : I asked the Luno staff, whether the multiple addresses for my wallet that I create can be used simultaneously to receive payment. The answer I got was yes! Luno support is great. The company looks great! Still generating returns at Gladiacoin. Currently 0.01777776 BTC.
2017/05/17 : Have you noticed that I'm not all negative or all positive when approaching this whole venture? In the Unofficial Number 1 Gladiacoin Facebook Group itself, there are some people having troubles with transactions, etc. At first everything was rainbows and sunshines. Now I've seen negative posts. Gladiacoin not receiving payment, etc. My biggest worries and fears on Bitcoin transactions. Since it's all peer-to-peer, sort of, once you send Bitcoin, you cannot get it back. The receiver can deny receipt. Unless you trace the transaction and show confirmation, but you need to get technical. Or go to Blockchain or something. This particular guy did, but Gladiacoin's anonymity made it hard for anyone to get any support.
This maybe the time when the Positivity cult will come in and tell me that I'm fear-mongering or spewing toxic negativity. Hahaha. But that's OK. I don't apply a rose tint to everything before calling them. If it's bad, it looks bad to me, I'll say it like how I see it. So, this is a sign that pushes Gladiacoin toward the "scam" or "unsafe" area. Will Gladiacoin solve its problems and give this guy back his money? Or will Gladiacoin actually create more and more of this type of problem to "profit"? And in the end, "disappear"? Or maybe it was a false accusation? The guy actually typed/pasted in the wrong address? Let's see what happens.
Update: The guy who requested help was banned from the group and his post was removed. Unprofessional way of dealing with the situation, in my opinion. However, some say that Gladiacoin just needs to take a while to do the processing. Several days??? For some people who invest more than 0.5BTC, they may be having be a difficult time...
Update 2: That guy eventually got his payment processed and approved on May 30.
2017/05/20 : I got tired of posting everyday. But I do receive Trader Bonus (returns) everyday UNTIL yesterday. 2017/05/19 Trader Bonus is missing! Is GC going to fold? Or is this just a temporary problem or lag on their end?
Meanwhile, Bitcoin/USD is nearly reaching USD$2000!!!
Update on the temporary problem. Gladiacoin is making some changes. They are notifying their users about this on a news page. They are pausing their trading activities for 5 days (19th to 23rd May) to clear some backlog problem within their system. Everyone is not receiving their trading bonuses within these 5 days. They are also saying that the minimum payout is now 0.1BTC which is a lot less frequent. The entire Bitcoin network is experiencing slowdowns due to the popularity surge. A possible reason why new Gladiacoin users are not being accepted, because their payments are slow to be verified and received by Gladiacoin. Much like the earlier scenario. I am also reading that Japan has accepted Bitcoin as a legit currency.
2017/05/22 : Bitcoin breaks USD$2000 per Bitcoin! Google is reporting USD$2172.31.
2017/05/24 : It is glad to see that Gladiacoin has resumed trading! So, I am receiving Trader Bonus once again...
Bitcoin/USD is now at a staggering USD$2364.43 according to Google...
2017/05/28 : Around 2 days ago, Bitcoin/USD price took a sharp dive.
Going to buy more Bitcoins, because they are a bit cheaper relatively, and according to NewsBTC.com, the Bitcoin retracement will make it bounce higher up! I also feel the same.
Meanwhile, at Gladiacoin, they are launching new Profile Plans. At first it's just the Spartacus Plans. Now the Gladiator plans. Doesn't look like they are running out of business anytime soon. And they are still giving me Trader Bonuses!
2017/05/29 : Although Gladiacoin continues to add Trading Bonus to my account, and getting bigger and bigger, it seems that they are getting more and more distant from their original customer base. Very high monthly fees coming up... I am not too sure on the details. I logged in and wasn't prompted to this. Now, in the Gladiacoin Facebook Group, there is an outrage. Some are saying the fees are too high. Some are saying the fees are OK. 15% per month. Which means 45% in 3 months (90 days). So if this is true, their initial objective of doubling their customers' investment after 90 days would be rendered obsolete. Some of the more "positive" people claim that Gladiacoin has helped them to gain financial freedom. Really? Maybe. Those who have an army of downlines. Those who don't, and just want the company to fulfill their original promise to double, are the ones who feel betrayed. If the "Gladiators" are not able to pay by deducting their trader bonus, then the true scam face of the Gladiacoin would be partially revealed.
Sure, we can get very "high" positivity guys who "choose" to disregard any negativity even though it is the truth. Saying "Everything is OK". Anyone "complaining" about the fees are "losers" and won't get far in life. But are there people who go positive all the way and still don't get far? I bet there are! For those who get very far in MLM's and claim that it's because of all the positivity... do they realize the number of heads they stepped on to get to where they are? Or do they choose the path of remorselessness to focus on making good returns and disregard the pains and troubles of others? Anyone expressing any problems are the ones at fault?? And yes, there's some such people within the Gladiacoin Facebook group. Some are admins who freely ban those who raise concerns.
My opinion about this, so far, is that the admin fees should not exist, or should not be that high, or should be able to be deductible from the trader bonus (proving that the trader bonus is actually real money that can be used). Why? Too many questions and ambiguities on the operations of Gladiacoin. How are they actually trading arbitrage? At which exchanges? Who is on their team and company? Where is their office? If they want to be anonymous, do you really feel comfortable paying them? Do you like to deal with a financial company, for example a bank, that hides their company profile? Aren't they already doing things with all the money they are receiving from investments from their customers/investors? It's getting riskier and riskier. More and more like an MLM HYIP. Are they anonymous to protect themselves? Or so that they can disappear more easily? Ignoring this risk or dismissing it as useless "negative" thinking, IMO, is just foolish. This is real. Companies spend a lot of money to handle risk. There's this new-age type of "positive thinking" concept that says to distant yourself from all these negative stuff and the good people who raise these negative scenarios. It's a type of polarization. Everything must be goody goody. If someone says something negative, they are labelled as toxic, regardless even if they are speaking the truth. Isn't this behavior itself negative? Masqueraded as positivity. It is one of the worst kinds of negative behavior. To the point that there are those who support Gladiacoin to the fullest, even with these high fees.
This brings me to my next point. Trust. Do I trust Gladiacoin enough, now that they have changed the rules so many times? First of all, an anonymous company is holding my funds, and they are promising to give it back to me double. I am supposed to get auto-withdrawals once I reach 0.03BTC. They changed the threshold is 0.1BTC. Now I need to pay 15% admin fees per month. Maybe later they will change their rules again?
Raise the admin fees to 20% per month? And then, I can only withdraw after a year? Who knows what they will do. Some investors comfort themselves saying, "Gladiacoin is not a scam, that is why they chose to not disappear and impose admin fees to cover for their work...". Possible. Or... they don't want to disappear that soon. They want to milk every single of their pollyanic customers dry, and then, disappear? I choose to consider the possibilities of both the good and bad sides. Today's update ends here. We'll see what else unfolds
in the future.
2017/05/30 : I was informed by the guy who failed to buy a new Spartacus Gladiacoin account from before (the complainer above who got banned from the FB group) that Gladiacoin finally received his payment and he got his account! However, on the Gladiacoin FB group I see more and more "negative" posts. Actually I don't find them negative at all. They just raise concerns. But again, theory of relativity in place, if everything is so positive, something not so positive becomes negative?? Michel, who introduced me to Gladiacoin, has no more praises for them. When I log in to Gladiacoin, I still have my account intact because it seems that SP2 and SP1 accounts are not affected by this 15% per month admin fee. I hope I can survive, but I don't have very high hopes.
2017/05/31 : Michel informed me that Gladiacoin will not delete accounts that fail to pay the admin fee. They will just halt the trading bonuses. Another thing is that the 15% fee may not be per month, because it says "monthly plan". There is no monthly plan because each plan is for 90 days. It should have said either "Spartacus plan" or just "monthly". The Gladiacoin admin probably didn't proofread their notice. I am still getting trader bonuses from them. But the pollyannic nature of the Gladiacoin Number 1 Facebook Group is gone. One of the founders and "top earners" have become unresponsive. Either he is part of the scam, or he couldn't handle so many questions and requests concerning the admin fee problem.
2017/06/03 : The Gladiacoin Facebook Group is now deleted. Admins got tired of dealing with the angry members, probably. Another Facebook Group emerged. "United Against Gladiacoin World Vision No. 1". This group is full of those angry people who feel that they are getting scammed by Gladiacoin! As for me, I am still receiving the Trader Bonus, and my account is not blocked yet. Again, I do feel it is like a scam. Right from the start. But I decided to give it a shot, after considering all aspects. I didn't want to go deep into it like some other people, investing 1 bitcoin immediately... Again, I'm letting this run to see what happens.
2017/06/05 : Gladiacoin suspends trading activities for 1 week due to low amount of deposits. Not looking good...
2017/06/10 : After the suspension, I see a new announcement. "This week closely follow the work of investors, but the turnover has not recovered."
People who have received trader bonuses and made back their investments will not receive anymore trader bonuses. "If you have not recovered your investment, rest assured! Next week we will announce how you will recover at least the amount of your investment per login. The Trader Bonus for those who have not yet recovered the investment will be re-formatted and we will repay it from next week so that we can continue operations until all people have their investments per login retrieved."
Sounds really kind of them to do this and not just run off and disappear. But I'm taking this with a grain of salt. In short: "We are not gonna give people free money anymore. We will try to give back everybody else's money if they haven't made it back." And probably shut down?
2017/06/14 : Gladiacoin says they will resume their trading activities for the people who have not made a return on investment. How kind! But I am not having my hopes too high.
2017/06/19 : They say that starting Monday (Today), those who have not recovered their initial investment (people like me), will receive half trader bonus daily until they do recover their investment. However, I have not received anything! Upon re-reading the message, I've found that it actually said after "end of Monday". So I will wait and see what happens tomoorow.
2017/06/20 : I received Trader Bonus! Half of what I used to receive in the past. But still no guarantee I will receive any actual payment.
2017/07/05: Back in June, around 28th, Gladiacoin site stopped working. They have disappeared. Now the once anonymous founders known as Satur Segade and Antonio Casas have opened other similar investing platforms called TwiceCoin, Jetcoin, etc. Their top guy William Portillo also moved on to promote other such programs. My conclusion would be to be careful with programs that require you to pour in money as investment and then they pay you back bit by bit. They would either be scams or not worth the time. Gladiacoin wasn't 100% bad. The early adopters made a lot of money, provided they did not reinvest. I was just late to the party! All Ponzi or MLM schemes are like this. You can earn a lot of money if you join early. Because the money you earned will be from the fees or payments by the late adopters. If you know this and you are too late, you won't join. That is why members will spam the "positivity" and "success" brainwashing to blind you from the main strategy.
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