*** Warning the site still excepts deposits so be careful ***
Here we go again, another scam that is damaging the reputation of crypto's and worse of all robbing people of their hard earned money.
The site is not letting people take out their money and no one can contact the creator. It's one thing to put your own money into these things but how people can promote them to others for the commission is beyond me.
People logged in today to see their accounts credited with 11 Bitcoin, but you won't be shocked to learn this could not be touched and sadly neither could the money they had invested.
Be careful people it's the wild wild west out there where only the ruthless survive.
As usual thanks for listening
Happy Steeming Steemers and Steemettes.
Thanks for the info! Hadn't heard about this one, but man! These scams seem to be all over the cryptosphere!
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A few people on reddit are saying the site was hacked and not the creators fault, but withdrawals have been down like 3 or 4 days and if this was true the first thing you would do would be to put a message on the home page (entire site down now).
I think if it's too good to be true then it's a scam. Bitconnent is one of these, but they have been very clever linking themselves to Bitcoin and making you buy their coin. This is why it will probably last awhile, but your returns would be so much more if you simply held Bitcoin (unless your massive on YouTube and pull in the referrals)
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You're dead right there on both points! Bitconnect will have enough cash to keep it going for a long time I reckon. Probably another year if the UK government doesn't shut them down soon (tricky answers to produce I reckon). Bitconnect seems to me like it'll go down in history as the best ever ponzi. It's enormous in scale. I hope it's not for those involved, but don't see anything to the contrary. I notice they put everything on hold during the last dip also.
That could be what Sierrahash is planning, but they should be savvy enough to see they have been called out already. I think they left some BTC in the account to see if they could restart it, but thankfully the deposits seem to be slowing down a bit now.
Yeah, if these sites don't have Twitter, Facebook, Reddit and messaging to users, that will be on purpose!
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Bitconnect's so called "trading bot", that literally runs off volatility, after weeks and weeks of volatility pays out at 0.19% or lower. If the bot was real the gains should of been massive.
And yes I agree, it's a ponzi like we've never seen before because in exchange for Bitcoin which has value your returns are in dollars which is worth less than your bitcoin.
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I was so apprehensive at first but then I decided to give it a go bassed on all the good things I heard from fellow bloggers (Big Mistake).
In the digital blocchain age where everything is tracible , I never thought something like this could happen .
Luckily I didn't go all in like I thought about doing and my total losses were only a mear $200 , I'll simply write it off as a $200 mistake and keep it moving . I still have lotsa faith in the @steemit platform and have no doubts I'll make it all back 3,000x over lol . In the meantime let's do what we can to make sure nooone else gets burned .
Bassed on the universal law of attraction , that scammer "Peter Shepherd " ( if that's even his real name ) has some sweet SWEET karma coming his way .
" how you treat others is also how you will be treated " in this life or the next .
Cheers 🍻
-pluse
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Sadly with crypto you can easily hide your tracks. People are saying he used a "washing service" to clean the coins so you can't trace where they have gone. The fact he interacted with people in the chat makes it worse.
It blows my mind that someone could sit there for hours and hours making a website and all along their plan is to steal from people.
The people on Youtube promoting these sites for the commission need to stop, they know there is a good chance people will never see their money again but they promote it anyway. That makes them just as bad as the guy running the site.
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Thanks for the heads up i was thinking about joining there investment program :)
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Glad I could at least help 1 person.
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@originalworks
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Thanks for alerting us to this scam. It would be helpful to have a bit of background on the story, for those of us who have not been following it. Can you recommend a good article or post?
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