$12,000 in lending test for Bitconnect.
It seems that you cant throw a stick in this place with out hitting someone throwing an add for Bitconnect.
I bought my first BCC on January 30th of this year.
I wrote a post to inform our Steem.it members about reading the fine print.
Did you read it? Of course you didn't.
Well, now we put Bitconnect lending to the test.
I have bumped my lending contract to $12,000.00 to see if the pay out they promise is true.
I'll post periodic gains. Until, the end of the recent contract, or until no one cares. Which ever comes first and this may be the only post . . . only time will tell.
If you are interested let me know by just saying hello . . . or asking a question.
I'm on my traveling laptop, so my image ability will be poor until I'm home for the next post.
Currently I have over $863.00 interest on a $1,500.00 loan. You may be able to see it in the next image.
So if it is a scam . . . or real. Let's find out!
This is Henry Gant, Man About Town.
Information to help you decide.
Updates??
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Hello @rickmf.
Updates . . .
I slowly pulled my money out over time.
I would not recommend Bitconnect.
this is what I think happened tonight.
The dump was expected and predicted. It is simple math.
And now some are running for the door . . . and the door is shut.
here's the tricky part
Now we cannot get money out.
Math.
I hope you didn't get caught up in that.
H. G.
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no i did not, but i know people who have/ are.. was thinking about a small 'loan' but am very hesitant. thanks for the reply
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I don't agree to spent all this money in this site, however it is your choice and wish you luck.
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Thanks for your Reply @taspingo. Like the Zen master said. "We will see."
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How's it been going? I've done a ton of research and it seems pretty shady, but I still threw in $1800 a few days ago. We will see you're right. I saw you battling someone else on some other post who was accusing if you of getting all the referral fees and ultimately screwing over anyone who signed up using your code. It probably is a scam, BUT....it's possible it's not, and the developers are just too lazy to get white pages to gather and other important things. Here's my argument for bitconnect though. There's only 7 million coins in circulation. At $.50 a coin, they could distribute a few million coins a year to the developers to keep the site up and not cause too much inflation, and get away with paying lenders this ridiculous amount that they are. That's my opinion...hopefully it works out
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Hello, I just got this. My replies don't seem to be working. Bitconnect? Well, I'll screen shot it for you.
That's 12,000.00 in lending, I have earned, looks like 9,903.77 in apox. 3 months.
My entire investment to start was 3,500.00
So I have an $18,400.77 profit. I still have until the second week of August before I pull my lending funds out.
What do I think?
It's been fun. Ponzi scheme? Honestly, most all of cypto is a Ponzi scheme, and bittconnect is no different.
But, the organizers of Bittconnect have set up their game in such a way that it is easy to disapear with the worthwhile assets --namely BTC-- and leave investors with a crypto coin that can and will fall to zero, once a run for the door starts.
I'm not Lucky, I'm just early for the show.
Now, for reason:
I would have made much more in investing if I had taken my ten btc and held instead of lending it when I did. They would be worth over $27,000.00 now? And I would have made my own trading bot.
Or lost it all.
Best of trading to you.
Upvoted and followed. Let me know how it goes.
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Yeah man. Agree with you. But...is it possible that this coin runs to $3 in a couple years before the fall? I think so, but who knows. I'm in now for a total of 3K. It's too stressful for me looking at I every day, so I plan on checking my balance once a month and withdrawing profit to Bittrex. Keep me updated and I'll do the same! Thanks for the reply!
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By doing this amount you'll find out in 4 months if this is a scam.
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Followed and upvote @mctiller, I know you are interested in this Experiment. I'll keep you informed.
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Someone promoted your post. Promotions help every steemians.
Your reward is an upvote and 0.292 SBD extra promotion.
Good job, see you next time in
Promoted! ;)Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
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This should be interesting. I do think this is a scam. Just going out there.
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"To good to be true."
Maybe, and this may prove nothing. But, it will be fun.
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Right, I agree! who knows maybe it won't be. I did something similar to this 2 years ago and got robbed lol
I hope it isn't. I'll jump in!
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I'm a gambler so I understand the chance you're taking:) I find it strange at the fact you only can lend out your coins and not borrow, and who are we lending to? Wish you the best @henry-gant.. Cheers all!
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Thank you for your Reply @arcaneifo I have questions about what happens to the coins when they are lent.
Support is extreemly slow in answers, if at all. I'm reminded that the internet was a gamble way back when. I'll keep the few people who have expressed interest informed about my progress. you included.
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I will later post an article on exactly what happens with the coins you "lend". Follow me if you are interested.
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Thank you for the reply @thegrinder . As I don't like to throw money away, I'm cautious about all the red flags that Bitconnect has. We will know soon enough.
followed and upvoted.
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So how is it going with the payments so far?
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I was mostly interested if the payouts are matching the interest calculator. So far they are. They are dependent on the price of BTC. (A red-flag here. They shouldn't be exact. There should be more variation with a trading bot.)
I am concerned about other things as well, the buying of BCC is slow on the exchange. A large supply of BCC will trade very slowly and can drive the price down quickly. This is a problem when it is time to cash out.
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I've been on a week, and the interest payments are matching for me as well, and I've turned some payments into Bitcoin. So far, so good.
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I agree, that for now, it is best to turn payments into BTC. and avoid a rush to the door if one should occur.
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sk33t3rb0b bad form to advertise on someone else's blog. It' a really old blog post anyways.
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