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RE: Promoting a Scam Makes You a Scammer

in #scam7 years ago

The hardest part of a scam is that people want to believe that it will work for them. I don't believe downvotes alone will resolve the issue since there is an inherent desire for people to want to believe the scam. Instead of downvoting, post a link to this exact post to educate and inoculate people from the scam.

For Bitconnect, people need to understand where the money is allegedly coming from. The website alleges they are running a volatility trading bot using the funds. What people need to be skeptical about is the existence of this bot and the performance advantage that it has against all other bots on the bitcoin markets. A volatility trading bot is not a new idea and bitconnect is doing something extraordinary with their trading algorithm, they should be able to convince big time traders and investors that their algorithm is something special and very quickly get millions in funding from legitimate investors.

The fact that they are soliciting funds from amateurs and provide near zero explanation for their trading methodology or edge and most of their website is about marketing is highly highly suspicious.