bitconnect is a ponzi, please don't promote.
RE: BITCONNECT (BCC): A High Impact Trade; Higher Risk & Higher ROI Potential
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BITCONNECT (BCC): A High Impact Trade; Higher Risk & Higher ROI Potential
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@haejn did say it's risky. A quick get in get out trade of few days wouldn't be a problem. For anybody who wants to know about the fundamentals about BitConnect here is a old post you can read: https://steemit.com/cryptocurrency/@vimukthi/trevon-james-vs-vitalik-buterin-in-depth-analysis-commentary-on-bitconnect
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As I don't review fundamentals and base it only on price, I am not aware of that. I will review for such potential harm BCC can bring to others. Thanks!
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Analysis is not a promotion. This coin analysis was requested. ALL buys and sells are SOLELY the responsibility of the end user. You MUST do your own due diligence.....this is not a buy this coin blog.
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I dont think that he is promoting that people sign up on bitconnect. But yes, definitely a ponzi scheme and good to warm people!
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they push their own coin, they just scam the people for their bitcoin, the exchange is mostly themselfes, you exchange your btc in bcc and than in dollars when you want to invest with them. your invest rises when btc rises, but not as much as you would do in holding btc, so do their coin aswell, later you get for your dollar investment less bcc so less btc than you actually invested ;) i think they will just can continue with many stupid people who dont care - so very careful with open eyes, there are much better options out there!
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say what you will about them but I have made my return on investment and they pay me profit every day which i withdraw to my own wallet :) can you show me another ponzi that does that?
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Google Bernie Madoff, he did it for decades.
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Exactly :)
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LOL the whole point/methodology of a scheme is to "prove" that it works by paying insane amounts to participating "partners" in the pyramid. This has two functions, it grows the pyramid because participants advertise to get more people involved to make more money, AND it appeals to humans greedy nature, making you invest more in the scheme! When the pyramid is large enough for the owners to profit massively, or when people become aware that is it a ponzi scheme, they run of with the money!
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I'm not a huge fan of bitconnect but I don't think it's a ponzi/pyramid.
Ponzi schemes are inherently unsustainable, while bitconnect is completely sustainable.
As long as the "trading bot" holds a fair percentage of coins it will be able to pump up the price and then sell a few coins to pay out lenders.
It looks a lot like a ponzi because of the referral system, but it isn't.
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There is absolutely no proof that the trading bot even exist, come on!!! Everything about this company stinks of a ponzi/pyramid scheme...
and also you say "bitconnect is completely sustainable." - I don´t think they allow anyone to go through their finances OR the technology behind the so-called "trading-bot".
This company has so many secrets, and that is dangerous for investors and traders.
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Did you read anything I said? The trading bot doesn't exist. It's just a cover up for price manipulation. As long as they can continue to manipulate the price of bcc coins it is completely sustainable.
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okay, so it is a scam which is sustainable for now, until it is no longer sustainable at which time it will crash..
But I do understand that you are not promoting or defending bitconnect.. Just think that it is dangerous to invest in, I studied business economics and so I feel that it is the responsibility to those with knowledge on a subject, to communicate risks to others who might not understand the risks they are taking..
Nothing I said was pertained to you, and I am glad you started this healthy discussion :)
Hopefully other readers can learn from these comments and make good trading decisions.
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I'm all for remaining cautious.
Never invest what you can't afford to lose, but scared money doesn't make money!
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Somewhat agree, but in the case of a long crypto winter, they would not be able to sustain the price and would collapse, also at some point the owners (who by the way are unknown) decide that a few billion is a good score, liquidate and fold it.
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Yes, and all the "investors" will be left holding the empty bag...
Very sad that people actually fall for these schemes, just a little digging into the company structure and the people behind it raised 100 red flags!
Even if it makes 30000x I would never touch it!
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