Hi guys, this is Coin Girl and welcome to another crypto video.
In this video I want to make a little scenario about my initial Bitconnect investment. What would have happened with it if I chosen to keep my Bitcoin instead, and never invested in this platform.
As some of you know, on 1st September this year, I started my Bitconnect experiment , along with it my crypto journey. I invested $130 in the platform and I can withdraw this sum in 299 days after I made the lending.
Now I am on the 86th day and by reinvesting my daily profits I managed to get a $370 total investment.
But how would things be if I kept those $130 in BTC ?
Let’s see
On 1st September 2017, the price of 1 BCC (Bitconnect token) was $136 and the price for 1BTC $4,773, meaning 1BTC was 35 times more valuable than 1BCC.
Today, 1BTC reached $9,780 and 1 BCC $304.
See the comparison by watching the video below!
Hahaha... I told you on your first video on youtube & here that BitConnect is a big SCAM & Do NOT promote it. People follow us for good reasons and If we start promoting Ponzi schemes for short term money or quick money we will lose our character value. That is the Reason I NEVER invested in BitConnect & always believed on Good Projects like LISK, NEO, ETHEREUM.
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I would advise you to get as much of your investment out of Bitconnect ASAP. Chances are it won't last past the beginning of December, according to Clif High of Halfpasthuman.com -- I was taken in by their fake promises too!
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Well, as you probably know, the money is locked in the system until term completion, therefore I can't withdraw. Though I am skeptical still about Bitconnect, it might be speculative rumours too, in order to make the coin's value decrease. IDK. I guess we will see.
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Believe me, I know. I've just been taking out all the profit I can, and hope to at least get close to breaking even.
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By the way, Clif is not about spreading FUD. Quite the opposite. He's hell bent on helping us overcome the bad state of the economy. I highly recommend you watch his recent videos on youtube: Jsnip4's channel, Cryptoblood, bix weir (road to roota) -- they are friends and you often get insights from Clif :)
Clif has been a developer longer than I've been alive, and he's a fantastic source of information, and really good at breaking things down. He does get into the woowoo, so if that's not your cup of tea, you can just skip those parts of the videos.
Best of luck!
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To hopefully finally seal your skepticism, one of the things I learned recently is that there's only 2 exchanges where you can trade BitConnect. HitBTC (a shady exchange) and BitConnect's own exchange, hosted by BitConnect. Also, if you try and find who the owners are, or how the trading produces the income, there's nothing :(
It was a shock! I felt like an idiot.
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Sorry to reply so late, I didn't get a notification. I agree that there is ambiguity regarding the Bitconnect owners, but in the same time, do we know who is Satoshi Nakamoto?
I also agree that the exchanges they offer are not the most transparent ones . They make money on the BTC one invests in the platform, and a user makes money on BTC's volatility.
Thank you for engaging and I hope to speak to you soon!
Take care!
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No worries. I've bee away a good bit myself. It doesn't matter who Satoshi Nakamoto is, because he's not the one developing the software. And anyone can download, read, modify the software. You can see who the devs are on github, linkedin, etc.
BCC is an actual company that is registered in the UK and hasn't filed their paperwork and are close to being seized by the Crown.
Don't get me wrong. I still have skin in the game, so I'd love to be wrong. I'd much rather it be true and be able to help my friends out of poverty.
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