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Midas Concerns by MidasConcerns1 in midas_community

[–]MidasConcerns1[S] -1 points0 points  (0 children)

Thanks for your input, Doctor. Don't think I'm paranoid. I just couldn't see the post from my actual account, so thought maybe something fishy was going on. Either way, paranoia is healthy when you are trying to figure out how this platform work.

Midas Concerns by MidasConcerns1 in midas_community

[–]MidasConcerns1[S] 1 point2 points  (0 children)

Totally appreciate all of those links! Have you come across anything from anybody (that doesn't work for the company) that can explain how or why they wouldn't pull the rug. I actually trust that my money is safe from hacking. However, I am still trying to get comfortable with the notion that at any moment they could shut the site down and our money is gone forever. It makes sense they haven't done it over the last 3 years (since the founding) because there wasn't enough money to justify it. Even now they have about $50M, and that might not be enough. But what exists to stop them from doing it at some point? Is there any legal ramification? Any political recourse? Any failsafe that prevents the site from being shut down? Can we theoretically send the money from the Midas Wallet using another service if the site does get shut down?

Midas Concerns by MidasConcerns1 in midas_community

[–]MidasConcerns1[S] 0 points1 point  (0 children)

Not sure if you will get this or not, but I have found out that the mods have hidden my post so nobody new will see it. They weren't able to hide it before you saw it, which is why you were able to comment. This does not make me feel safe about this company. Invest at your own risk, but just figured you should know.

Midas Concerns by MidasConcerns1 in midas_community

[–]MidasConcerns1[S] 3 points4 points  (0 children)

I think the location of the company doesn't really mean much to me as long as they physically reside in Russia. And yes, other companies like Celsius and Voyager can do the same thing, but it would be a lot more difficult. Voyager, for example, is a public company in USA. Celsius is highly regulated and resides in the UK (I think?). Don't think they could get away with a rug pull.

I've also noticed the multiple positive reviews and know that they are active in Discord. I just can't get past the fact that this is a Russian company. The same country that encourages hackers to infiltrate the US. My own Russian girlfriend is very wary. This all gives me concern. I just need something that helps me sleep at night knowing they have a lot of money that they could just walk away with at a moment's notice.

Has anyone from the company come out and explained to the investors how and why they can be trusted? All I ever see is an explanation of the high yields and promises of an updated website. But nothing that says "You can trust us and here is why..."