When I first heard of Bitconnect, I wasn't even skeptical about its services I straight declared it a full SCAM. For months I would see more and more support for bitconnect and I would think, "Of course there is, they need more members to throw money into the ponzi." But it never stopped. Then you start seeing people on youtube with proof of their earnings and my curiosity started to itch now after a few months of ignoring it, I decided to check it out myself and fully understand how this business works. They basically tell you to invest at least $100-$100,000 (the more you invest, the more you earn daily up to an extra .30%) to their trading bot and with the profits of the bot, you get payed up to 40% your investment EVERY DAY (average percentage is 1% daily). Then what got my attention was that there was nothing about needing to refer other users to make good money, it only takes $100. How? Well compound interest of course! If you reinvest your daily interest from a $100 dollar deposit, in six months you will have around $450 invested and earning around $4.5 dollars a day! If you kept reinvesting by the end of the year, you should have around $2500 invested earning $22.50 daily. This to me sounds was too good to be true but if the website continues to run for at least a year, the math never lies and you will get to that point as long as you reinvest everything back in with only $100.
After more research, I decided to try it and I put $100 into it just to see what would happen. Here are the reasons that convinced my to even risk $100 dollars:
They have an exchange! The way they incorporate this service is the use of their own cryptocurrency using the blockchain. To pay the trading bot, you have to convert your bitcoin into BCC (BitcConnect Coin) and use the BCC to pay the bot. This forces people to buy their coin and creates demand. They also force their users to purchase the coin AGAIN to cash out from bitconnect which creats even more buying power for the exchange even if there are no new members coming in there will still be people buying the coin just so they can get out. This keeps the coin to keep its value.
They have held conferences before and there is one coming up this October. Anyone that has invested $20,000 or more will get their flight and hotel reservations taken care of and a free invitation to the event in Thailand. They are also very outspoken and post a lot of updates.
Even if their bot isn't making money, they have made a lot already made from their "shitcoin" worth from $0 to $87 as of writing this. Im sure they have millions of these coins now making it the obvious way they make the most money. As long as they pay their mambers (which they have and want to do), they will increase the value of this coin that they have plans to turn into something more.
They handled the hard fork extremely well. Anyone that was holding BTC also got their Bitcoin Cash with ease while more trustworthy places like Coinbase are still holding their customer's Bitcoin Cash.
The only risk I see that is very possible is that they could just take off with everyone's money. However they have already shown their faces many times and are always active with their member which has given me the confidence to invest an amount that would have a low impact on myself if it was to be stolen. I leave the decision to you if you decide to join but if you do, I hope you would use my referral. I will keep my status updated as many other members do to show that they are being payed and proving it.
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..
Some things that can be considered spam:
Very good post. I fully understand what you're talking about. I've bene asking myself. Do people actually check the Trustworthiness of the crypto they invest in or do they just blindly see money money money? :-) I found this great website: https://www.coincheckup.com. Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check for example: https://www.coincheckup.com/coins/BitConnect#analysis For a complete BitConnect Detailed report.