Karatbars Scam

I’ve received a number of e-mails over the last week or two about the latest developments at Karatbars, and concerns over rumours circulating about it being a scam.

I’ve been hearing this ever since I first got involved with Karatbars, and indeed, Karatbars has suffered such rumours its entire history.

The problem with the internet is that there just isn’t the level of fact checking we’d expect from the likes of, say, the BBC before a report is published and, just as with mainstream media, bad news always sells more than good news.

More often than not people will make assertions that are personal opinions based on misinformation, and express them as if they are facts. Once this is published as ‘fact’, this then holds weight, even if there is no evidence to back it up.

This has become a global issue now, and no doubt will be something historians will write about for future generations, how social media algorithms have created an enforced cognitive bias that moulds the very society we are now seeing develop.

I am genuinely disheartened by the growing number of online communities arising that embrace Flat Earth, Hoax Moon Landings, Chem Trails, Anti-Vax, Alternative Medicine etc. as well as an increasingly extreme and divisive political environment, most of which I believe is at least aided by the positive reinforcement social media algorithms perpetuate. Critical thinking seems to have given way to lazy acceptance of whatever our media feeds are telling us.

And it’s not good.

The problem is that these ‘scam’ articles and videos stick around. For example, in 2014 the AMF in Canada, (like our FSA), claimed Karatbars was a scam. Karatbars took them to court over it and won in 2016, and they apologised. This apology and retraction never made the news of course and if you Google Karatbars you can still see the ‘Banned in Canada’ stories.

As you probably know, I set up CashMaster precisely to get the facts about products and services so that we don’t have to rely on snazzy sales pages or dubious forum posts to be able to form a more reliable opinion on something based on the data itself.

And this has been the case with Karatbars, as with all other products and services we review.

I have seen videos online, created by people that have never been involved with Karatbars, never met the CEO Harald Seiz, or Josip Heit, or Ovidiu Toma and literally don’t know the bare basics of the business development structure, nor the milestones achieved to date, nor the plans in progress for the future, yet they feel qualified to give an accurate assessment of the intentions of the company.

I do note, of course, that creating a YouTube video with the word ‘scam’ in the title, or indeed a blog or forum post, will receive a lot more traffic than normal, and so I’m always slightly suspicious of the true motivations of the people creating them… as more often than not they are simply using ‘click bait’ to increase their own exposure. (Yes, I know I used it to encourage you to read this post… see, it works!)

Well, I have met and spent time talking with Harald Seiz and Josip Heit in person, and I’ve spent probably close to an hour chatting with Ovidiu Toma who created KaratNet which is going live in October.

I’ve seen everything they planned happen, on time, and I’m also aware that some information is kept private purely for commercial protection as what they are attempting to build here could also be achieved by other, much bigger well established corporations.

Of course there will always be conspiracy theorists who take this lack of transparency in certain areas to mean they have something to hide. Well, it’s true; they do have commercial secrets, like any other big company. That’s why ‘garden leave’ was invented.

But yesterday things changed.

Over the past couple of weeks the ‘Karatbars is a scam’ rumours have been spreading, fuelled by sponsored advertisements on Facebook by someone with an axe to grind. The current attacks seem to be centred around trying to say Karatbars head office doesn’t exist, Karatbars has no access to mines, the Miami and German companies don’t exist, no one stole any KBC coins and Karatbars has not fulfilled its promises in the whitepaper.

A lot of this stuff Harald didn’t want to reveal due to operational reasons and because he didn’t want to give the competition too much commercial information.

He has, however, decided to take on these people and has released the following document which answers every question head on.

You can read the full 30 pages of facts at here:

Karatbars Statement

Everything is there including official company registration documents and certificates from the mine in Madagascar as well as details of a prosecution he is taken regarding stolen KBC coins that scammers have been dumping.

It’s worth noting that Karatbars have been in business for eight years now. They work with MasterCard and FedEx both of whom have strict due diligence procedures in place. In that time every customer has had every gram of gold delivered and not one commission payment has been wrong or late in the history of the company.

My Opinion

Now, quite a few people have asked my personal opinion on how I think this will all play out. Please remember, this is my opinion. I’m not stating facts (unless I know it to be a fact) because, as I’ve just explained, I think too many people express their opinions as if they were facts and it doesn’t help anyone.

First of all, anyone that invested in the KBC ICO can sell their coins now and make at least 600% profit, and that’s even now after the KBC price has fallen following the coin dump. (Fact).

I actually sold a few myself when the price hit 10c, but only a small amount to test the trading and withdrawal mechanism at Karatbit.

Secondly, a lot is happening over the next six months. In September the ‘Hardfork’ of KCB and KBC into the new mainnet coin happens, and in October the mainnet or KaratNet goes live (Fact).

This is a massive achievement as this will be the fastest, most technologically advanced blockchain in the space, on which everything will run including KaratBit, K-Merchant, K1 Phone, and future projects soon to be announced.

So I’m holding onto the vast majority of my KBC until the end of the year. In fact, I’d be perfectly happy for KBC to remain as low as possible before the merge with KCB in September as then I will get more of the new KBC. If the KBC price is at 14c in September then I’ll get 1:1 for my KCB holdings. But if it were close to the spot price of gold, I’d only get a third of the new KBC for each KCB. Even better, if KBC remains at today’s low rate then I’d get 3 of the new coin for every 1 KCB!

Additionally, they apparently have gold traders in Hong Kong lined up to trade gold on KaratBit when it launches on mainnet. This should provide a lot of liquidity and therefore the price of gold (univals) on KaratBit could very quickly begin to reflect the global spot price, as the traders will be making best use of any differences! And if that happens, KBC should then mirror the UNV price as again, any arbitrage opportunities would be quickly absorbed by traders.

At the same time K-Merchant and the K1 Impulse Phone will also be running on the mainnet, making KBC an actual useful utility token as opposed to simply a speculative asset as it is now, and this too should drive up the price as people will need KBC in order to use these products.

So my opinion, based on my personal experience with Karatbars, is that this is an astonishing opportunity that will be extremely successful. I don’t, of course, have a crystal ball and it may not work out the way I foresee, but that’s the same for everything that I choose to get involved with.

I was told back in 2015 that BitCoin is a scam and a ponzi scheme. Back then it had already just lost 80% of its value (From $1000 to $200), and people were bailing out as I bought into it. Last year I was told BitCoin is a scam as it lost 80% of its value ($20,000 down to $4000). Today it’s at around $9000 and I genuinely believe it will hit $100,000 before the end of next year (hint… if you don’t have any you may want to consider acquiring some). Of course, if it ‘crashes’ from $100,000 down to $20,000 after that then I wouldn’t be surprised, and of course I’ll be told it’s a scam.

Karatbars have been in business for eight years. You can visit the head office in Stuttgart if you like. So far they’ve done everything they’ve said they would do and I genuinely believe the next two years we will see some incredible things happening following the launch of mainnet.

Over those years there have been people claiming it’s a scam, and I suspect over the next eight years there will be people claiming it’s a scam.

Just like Bitcoin.

The current offers on the K1 Impulse phone ends tomorrow, Thursday 18th:

€2500 K1 pack gets you a K1 phone and €5000 worth of KCB.
€5000 K1 twin pack gets you 2 K1 phones and €10,000 worth of KCB.

You are effectively getting paid to receive a state of the art, Voice over Blockchain satellite Smartphone!

Full details available here

Easy Horse Race Lays

I’ve been given access to this horse lay service and will be reporting back on progress during the trial.

Called Easy by the vendor, and it really is. So much so that you could call it a passive income. You sign into the software via your Betfair account in the cloud (developed by the master of gambling software, Nigel Dove)… and that’s it. If all goes according to plan (and follows past trends), just siphon off some winnings from time to time.

Easy Horse Race Lays targets all UK racing and applies specially developed ratings along with other filters to derive the daily selections. In order to make sure the latest possible information is used in the process the final choices are made late on the morning of racing and then loaded to the Betfair approved betting bot directly. No need for emails or logging in to the website – your daily bets are placed just before the off. All you need to do is to ensure your Betfair account is funded to cover the betting and even here it is simple as there will only ever be one selection live.

Odds for the selections range from 3.00 up to 9.99. Thus far the system has seen a longest losing run of 3 and the most successful sequence is 24. Full results are detailed on the website and these are updated regularly. The system is successful with either flat rate or liability staking. And because the selections tend to be at the top of the market, liquidity is not usually a problem, the bets being placed by the bot when activity is at its peak.

Between January 2016 and March 2019 an average profit of 8.82 points per month has been achieved with a strike rate of 84.27%.

A betting bank of 100 points is recommended with level staking at 1 point per selection.

The cost of this service is £39.95 per month – and they offer a 14 day free trial to allow you to see how it all works.

Check Out Easy Horse Race Lays Here

Vision Racing

I am looking at a Betting Gods product, Vision Racing. A Horse Racing tipping service that costs £39 per month, with tiered subscriptions for quarterly and yearly subscriptions.

From the Betting Gods website:

About Vision Racing

Mark, with his Vision Racing service, focusses on generating big wins at long odds. It’s why an average selection from Vision Racing has average odds of 11.76. It’s certainly paying off in the long run!

Admittedly, the lower strike rate might put off the average punter but for those willing to put the time and effort in, the rewards are there for the taking… To the tune of £150.55 per month with £10 bets.

As per normal, I will record odds using the advised odds in the email, which is received between 7-9am, and Betfair SP with 5% commission. I will not apply BOG or other bookmaker offers, but will apply rule 4 deductions where necessary.

You can get Vision Racing here.

From The Stables

A much better week, been a poor start. However, with odds often 10/1 or higher, the highest so far was 150/1 and the average is 12/1, we are not going to see a plethora of winners, but when one of these lands the picture will soon change!

Week 3: Bets 121, Wins 31, Profit -12.75 (£-127.50), BSP Profit 0.43 (£4.30)
Overall: Bets 353, Wins 28, Profit -66.345 (£-663.45), BSP Profit -46.61 (£-466.10)

Golf Insider

Technically at the end of the trial, but it is The Open next week, so I have to give this one more week!
Last week we got two 9th places, just one stroke away from getting placed at 45/1 and 200/1. This week we had another near miss, again 9th and also at 200/1. As it is we landed Henley, 2nd in the John Deere, at 125/1.

Week 20: Bets 9, Wins 1, Profit 19 (£190.00)
Overall: Bets 170, Wins 17, Profit 152.35 (£1523.50)

NEW Fight Back Trader

Reviewed By Ian Frost

I have been looking a Fight Back Trader over the month of June and so far it has turned out a winner. The premise is that this is targeted to those who want a simple system, a set and forget one, although this is not strictly true, as I will explain. However, it is easy enough to execute and only requires you to look at your account twice a day. From what I understand this is a “fixed” and improved version of a system that was previously sold and failed. It has a 30 day trial period for those who gain access to it. At the end of the 30 day trial you either get your money back or continue on with it having paid the purchase price. Also at that point you will either subscribe to the members’ area to get access to the day’s signals, which costs £5.95 a month, or after being given the formula calculate the signals yourself.

The claims are that from the Feb 2018 start to the end of June 2019, (these are my figures not those reported on the website), your account would be up a fraction under 476%. The returns are claimed against a minimum funding size for accounts, which is £200 per £0.5/pt trade.

With the changes in rules for spread betting accounts for retail investors that came in last year, the concept is how to take the funding requirements into account and still make a return. The manual goes into detail about what account size you require per £1/pt so at £10/pt the account size needs to be £3,500.

The process is very easy once you get a hang of it. Log onto the members’ area, where the day’s signal will be posted. Make a note of it, and log onto your trading account. Core spreads is the recommended broker, and Mark explains why in the manual. Place the trade, and the exit levels and then wait and see. If you want, you can also place an alert if those levels are hit, and an email will be sent to you should that happen. There is action required at the end of the trading day if a position remains open, and you need to make a note to log onto your account to deal with those cases.

June was a positive month. At £10/pt the gain I recorded was £1,462, a return of 41.7% on a £3,500 account size. For the month, 20 trades, 8 losses, and 12 wins, with the wins totalling £3,345 and the losses £1,883. In what I think was a difficult market environment these are great results. And if every month was like this then life would be great. However, there are some caveats.

The leverage used here takes position sizing to the limit. Meaning that when there are losses you have to have additional funds to top up your account. If you are trading an account size greater than the minimum £0.50/pt then one could just scale down the bet size based on the reduced account size, although this is not recommended or talked about in the manual. It just so happened this month that there were few days of continued losses but still it required a top up of £720 after the first two days, 21% of the account. Looking back over the history provided, the drawdowns, (ie the amount of money the account loses before winning trades come back to return the account to its original value) have exceed 56%, with my analysis showing the largest was £1,979 cumulative maximum losses. This was during a period lasting just over a month during July and August last year. But by early Sep those losses had been recuperated and by the end of that month close to £2,000 had been added to the account in winnings.

As with virtually all systems, timing is everything. If you had started this back in June of last year after 3 months, and a lot of negative days and weeks you would just about be positive with a gain of £268 and frankly most people would have quit it well before the end of those 3 months. Roll on another 3 months and your account is now up £5,217, 149% in 6 months, and at this point everything looks and feels a lot better with an average return of 24.8% a month.

It takes a lot of faith and willpower to keep on playing a system during these periods as it feels like a winner will never come and you are just pouring good money after bad. I can only presume such a period will happen once again, who knows.

The other last caveat is that there is no set time to enter trades. There is a window that is discussed in the manual but it is up to each user when they place their trades. This opens up one other element that users could find frustrating. It is entirely possible that two users could enter trades at differing times in the morning and on a trade by trade basis get different results. Trader 1 may, because of their entry level, hit the take profit exit target, trader 2 may just miss their exit level and the market reverses and registers a loss for them. So far during the first month I’ve not encountered this compared to the official results but it could happen and it is just one of those things, so be prepared. You could also be the lucky one in this scenario. Though it means over time there are likely to be differences in the returns of users, however one would hope with randomness they will even themselves out.

For me, this system shows a lot of promise. I am looking at it as a long-term system that if it can repeat itself over the next 18 months and hopefully for many years, will produce substantial gains. However, I am prepared for the worst; drawdowns and months of flat returns and topping up my account.

Let’s see what months 2 and 3 bring.

Get a 30 Day Risk Free Trial Here

From The Stables

Week 2: Bets 125, Wins 19, Profit -41.53 (£-415.30), BSP Profit -29.06 (£-290.60)
Overall: Bets 232, Wins 19, Profit -53.595 (£-535.95), BSP Profit -47.04 (£-470.40)

Golf Insider

Week 19: Bets 8, Wins 1, Profit -9 (£-90.00)
Overall: Bets 161, Wins 16, Profit 133.35 (£1333.50)


Check out these e-mails:

“Dear Glynn

I have attended several FOREX courses looking for the know how to learn to trade. The courses I attended varied but all gave the impression, quickly confirmed, that the course providers did not trade their own money and were looking to hard sell these courses with no interest or commitment to my success. It was very like the worst of experiences in buying a used car.

I thought long and hard before investing in my PIE course and have been very impressed with your commitment and the real feeling that you were offering something of substance with a lasting interest in my success. It was a relief to me that my expectation has been more than fulfilled and in contrast to my earlier experiences.

PIE is the Rolls Royce of courses.

Thank you!


“Yes I’m loving PIE, It must be about 5 years since I sat the course and it’s been fantastic throughout. I’m also trading about £50k of my dads money on his behalf and he is very happy too (although he isn’t the best on computers and I’m not sure he really understands what’s going on, he just likes to see the numbers go up).

PIE is a huge part of my retirement plan and I’m very grateful that I found you guys!

Dave. “

“I thought I would send you an update as to how my trades are going. Since I started trading I have had 12 trades, 11 ‘wins’ and 1 still open…

My only regret is that I didn’t find you sooner!

Best Regards

“A big thank you to both of you for not only the most interesting investing training course I’ve ever come across but also for your approachability and the easy manner in which you conducted the seminar.

All the very best for the future and keep enjoying your golf,

Kind regard

“I love the PIE program, I think the potential is incredible, I have had 20 winning trades so far, it really suits my trading. Regards Terry”

To find out what they’re so happy about, click here

Trade Shark Tennis

We originally reviewed and approved this nine years ago and the fact that it’s still around and ever more popular speaks volumes.

This trading manual comes for a one time payment of just £39 and comes with unlimited support from the author, Paul Shires, who will be your mentor for life:

Tennis is one of the easiest sports to trade on Betfair so if you want to make some money while watching Wimbledon then check out Pauls website.

Click here for Trade Shark Tennis

Black Dog Forex

Nearly nine years ago (cripes) I reviewed and approved Black Dog Forex. A lot of time passed so I suggested to Graham that we revisit.

Black Dog has been around for many years; given the fly-by-night approach of too many Forex services, this alone speaks volumes about the integrity and trust of this service.

The site looks totally different to what I reviewed, and that is good as the information is a lot more structured, easier to understand and is much more beginner friendly than it was.

I have been asked to go through all the material and not just jump in, even though I am quite an experienced trader. Whilst I’d have probably done this anyway, it will take some time to read everything and I am unsure at this point whether I’ll report as a one-off update or as a full 13-week trial. I’ll let you know what I decide in a few week’s time.

However, I like the look of what I see, and if you are looking to get into Forex trading, I can already tell that Black Dog Forex is a great place to start. You don’t need to sit watching charts all day, and Black Dog is also suitable for folks with jobs, families and other commitments.

You can get Black Dog Forex here

From The Stables

Week 1: Bets 106, Wins 21, Profit -14.34 (£-143.40), BSP Profit -17.98 (£-179.80)
Overall: Bets 106, Wins 21, Profit -14.34 (£-143.40), BSP Profit -17.98 (£-179.80)

I have noticed that results do say so-and-so selection placed, so, where Industry SP is 5/1 or higher I am betting each way.

Racing Odds

I have been following Racing Odds, a horse racing system costing £49.99 per month. Selections are received via email sent between 10:00 and 10:30 or by logging in to the website.

The service aims to “Earn consistent profits between 20% to 30% per month with my low risk horse racing betting system. Proven to make you steady monthly gains at sensible betting odds” and the site states that average odds are 5.0.

I recorded 119 bets during the review period with 27 wins for a 22.7% strike rate at average odds of 4.64.

When you do login, you are presented with some rules:

1. You MUST use a 100 point bank (advised £1,000 as minimum)
2. You should use the bookie I recommend. Normally between Bet365, Ladbrokes, William Hill or Paddy Power.

Hence, I only recorded performance using the advised prices without Betfair SP. As BOG is a perk that bookmakers can remove, I do not intend to alter the advised price should the SP be higher than the advised price.

Three staking plans are offered: “safe” using 2 points per selection, “Medium Risk” using 2.5 points per selection and “High Risk” using 3 points per selection. Safe ended 18 points up (£180 at £10 per point), medium 51.03 points up (£510.30) and high-risk 61.23 points up (£612.30).

Based on medium or high-risk stake plans, where there is a tidy profit even after subscription costs are removed, I am happy to approve this service. Note “safe” is slightly above break-even after subscription costs are applied.

You can get Racing Odds here.

Racing Odds

Week 13: Bets 1, Wins 0, Safe Profit -1 (£-10.00), Medium Profit -1.5 (£-15.00), High Risk Profit -2 (£-20.00)
Overall: Bets 113, Wins 83, Profit 76.98 (£769.80), Medium Profit 76.98 (£769.80), High Risk Profit 76.97 (£769.70)

Top Claim Racing

I have been following Top Claim Racing, a horse racing tipster from Proofed Tipsters. This service provides win-only and each-way tips available on a website before noon each day. There aren’t tips every day and I usually check for tips between 12:30 and 13:00.

Only 130 bets during the review, of which 40 won; a strike rate of 30.8%. To Industry SP a loss of 55.8 points, although I recognise that better odds may have been available pre-race. Betfair SP finished 37.46 points down.

I am going to have to fail this service.

You can get Top Claim Racing here.

Top Claim

Week 13: Bets 9, Wins 3, Profit -14.2 (£-142.00), BSP Profit -11.38 (£-113.80)
Overall: Bets 103, Wins 40, Profit -55.8 (£-558.00), BSP Profit -37.46 (£-374.60)

CJ Racing

I have been looking at CJ Racing, a horse racing tipster from Proofed Tipsters. Tips are available from the website from noon onwards, but there aren’t tips every day. I generally checked between 12:30 and 13:00. Bets are win only.

The blurb states that the aim is a 40%-45% strike rate and 150-point profit a year. With 117 wins from 309 bets the strike rate is 38.7% (average odds of 2.85), so slightly short of target and an overall loss of 5 points is very short of the target. BSP faired better with a final profit of 16.26 points (average odds of 3.2), still below target.

This service does work on Betfair. I didn’t take any notice of odds available at noon, so there is a chance that better odds were available than SP. However, on this data, I will give this service a neutral rating.

You can get CJ Racing here.

CJ Tips

Week 13: Bets 33, Wins 16, Profit 7.82 (£78.20), BSP Profit 9.9 (£99.00)
Overall: Bets 309, Wins 117, Profit -5.01 (£-50.10), BSP Profit 16.26 (£162.60)