I'm afraid that it's the biggest scam going - EVER. If/when it blows up, that could really, really hurt the reputation/idea of cryptos. I know a lot of people claim they're making money at it, but I still don't like it - I'd rather go with something that actually has an open ledger/blockchain. I hear people talking about the blockchain connected to BitConnect, but I have never seen an actual place where anyone can look at the blocks ???
RE: Sign Bitconnect is a scam?
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Sign Bitconnect is a scam?
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Thanks for the comment.
I think they have been really clever by basically linking themselves to Bitcoin, you have to buy their coins with Bitcoin, which they then hold and the value of that Bitcoin usually goes up (they win). When you get your capital back it's in dollars not the Bitcoin you initially invested, so because of this it can last for a long time, but it's 100% based on a lie.
The people making the crazy money are the ones pulling huge numbers of other people into it and getting the 5%.
The past 2 days interest says it all. I'm guessing the "Bitcoin volatility software" took a nap those days.
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