Hi! =)
I have often seen bitconnect invests on youtube and here on steemit. A few minutes ago I joined bitconnect and will give it a chance. I will invest a small amount of 100€ and test it. These 100€ are locked for 299 days, but I will get daily profit from it, which I can also reinvest daily.
There is a small referral programm on bitconnect. If you like to test it, it would be cool if you would join my team: https://bitconnect.co/?ref=balesch
It sounds too good to be true. I am very excited and will keep you updated on this. I will show screenshots how high the daily payouts are and other things that I will notice.
I put $120 into a Bitconnect loan and so far have received $37 in payments from it. But I did so with the expectation that eventually the entire Bitconnect empire could come crumbling down before my 299 days are up. It is simply not possible for a "trading bot" to have positive returns almost every day, so that everyone gets 1-2% returns 5 days out of every 7. The only ways it can work would be (1) Bitconnect is supporting itself with transaction fees and (2) Bitconnect is using new investments like yours and mine to pay the previous investors. That system works ... until the new investments dry up.
You can argue that Bitconnect has a coin that is traded outside the Bitconnect platform, but there is no white paper describing the coin's purpose, or the trading bot's algorithm. We don't know who the principals of the Bitconnect enterprise are. It's all a black box. But they have managed to convince a huge number of people that this system will make everyone rich.
Even though I invested $120, I don't believe it. The only way to make big money within a short time is to push the referral program, and benefit from the MLM (pyramid) part of system.
But, since we're dropping referrals, mine is https://bitconnect.co/?ref=QiaoLaoShi
Everyone should take the time to watch this careful analysis by Lanzer, who made a $20,000 loan on Bitconnect just so he can go to Thailand for the big BCC event there. His evaluation is basically be cautious and don't expect miracles long-term.
Let's ask a few questions about bitconnect....
And that's ignoring the obvious ponzi, MLM signs.
My prediction is that the site will close and disappear without a trace at or around October 19th. So make your money before then. That is the date that the first set of longterm investors will be getting their principle back.
Bitconnect is experiencing exponential growth. There's no reason why they'd go insolvent anytime soon, let alone this year.
I do agree with the gist of your comment, however. There's plenty of shady things to notice about BCC. But I don't see that as being any different from other cryptos.
The vast majority of cryptos will eventually fail. Make money and get out is never a bad idea!
What do you think a bank do? =) They also play with your money, pay you 0,5% annually and the rest that they've won with YOUR money they keep for themselves. We will see, will just try it ;)
But the difference is I can find out who runs the bank, I can sue them in court if I have to, or criminal charges can be brought against them if they've broken any laws. I am pretty sure whoever runs Bitconnect is not based in the USA, but somewhere in Asia, and their identity seems to be a closely guarded secret.
Ok, you are right. But what if someone steals your bitcoins or ether? =) On which court you will sue? Crypto is just trust - if the most people don't have trust in it, it won't work.
can't wait!!!
:)
I don't think it's a scam.
I also think that it's not a scam. To be sure I need to test it ;D
I will follow your post.... ;-)
Thanks!
Finally!!! Please upload screenshots of each stage pleaseeee
I will, follow me and you won't miss it =)
Following you for a while ;) 0.1SBD times probably
😍
While it may not be a scam in your opinion, it could be considered spam. Spam is not appreciated by the community and could be flagged or may result in action from the cheetah bot..
Hmmm, just wanted to document my experience with bitconnect... but okay :(
Its a total HYIP, all the ppl are just new to this type of program. Its a total scam and is gonna shut down one day and SO many ppl are gonna look dumb for avidly defending it.