Bitconnect Bitcoin Segwit Update -- [News]

streetstyle (72) in bitcoin • 7 years ago

Bitconnect News Update

This is a Quick News Flash from Bitconnect for those involved as Bitconnect traders, members and lenders.

With all the recent uncertainty regarding Bitcoin's next major step in attempting to accommodate a crypto-currency ravenous world, many Bitcoin exchanges are putting plans on dealing with this change into action. It appears that Bitconnect will also be affected and will cease trading of Bitcoin/Bitconnect tokens from July 31 - August 3rd, 2017.

I think everyone is in 'precaution mode' and Bitconnect is no different except that this will cost many of the Bitconnect lenders 4 days of interest payments according to the Press Release put out by Bitconnect. Hopefully everthing goes smoothly for Bitcoin and its update that is happening very soon. If everthing turns out well for Bitcoin, then after August 3rd Bitconnect can go back to trading Bitcoin and paying lenders . Even if things don't work out the best, and Bitcoin does Fork, then Bitconnect will support both coins after the split.

Ultimately, this will be a big test for Bitconnect and its community. IF this is the SCAM that many think it is, this would be a perfect time for Bitconnect and its owner/s to pack their bags and run off with the loot. As we have seen with the recent CoinDash hack, several million dollars worth of Ethereum is enough for those hackers to run off into the sunset with their stolen goods. Bitconnect, I believe, has way more money involved, so if they are going to do something similar this would be a perfect time for an escape plan. I will keep my fingers crossed, hoping that all turns out well with Bitcoin and Bitconnect.

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07/20/2017
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7 years ago by streetstyle (72)

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joeyknowsbest (46) · 7 years ago

Can I please get your sponsor name? I'm trying to complete my registration. :) Thank you.

streetstyle (72) · 7 years ago

Here is a link to make it easier

https://bitconnect.co/?ref=gmoneybtc

let me know if you do this and if you do a loan, I give small reward in steem based on your loan amount.

joeyknowsbest (46) · 7 years ago

I signed up. I have not purchased any BCC yet. But I'm thinking my first loan will be 500. Do you know of any spread sheet or calculator to mess with the numbers in?

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streetstyle (72) · 7 years ago

Joey, they have one built in on their site. On the main page, otherwise called the Dashboard page, their is a blue button that says lend Bitconnect. Click that button and a pop up window comes up.... there it says something about "volatility software interest," click that link and it takes you to a page where it shows you the daily interest rate and other data. There is a calculator there you can use.

Just for your information, Bitconnect will be going down for a few days due to the Bitcoin Segwit stuff, so for a few days there will not be a trading/interest payments when this does happen. I have advised for some to wait until after this to see what happens. The more adventurous and daring ones still went for it, others are waiting. Let me know if you have any other questions @joeyknowsbest

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joeyknowsbest (46) · 7 years ago

Yeah I seen they was gonna be down. Thanks for the reminder.

streetstyle (72) · 7 years ago

sorry I just saw this....

it is:

gmoneybtc

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luja (49) · 7 years ago

Actually, I also believed bitconnect. I did a lot of research about it, watched criag-grant videos. I'd already planned to invest on it but... I found something wrong in their website. There's a bitconnect news at the bottom of the page, on that page they said that their office is in indonesia where they shared the picture of the office. Not thing is wrong with the building, but the logos on the building are photoshopped, fake, worst photoshopped. Look at the photo, who will believe in such photo( atleast not for me, as I am a 3d artist and I can easily know what is fake). I hope you understand what I am trying to say. Its a ponzi scheme. So, don't reinvest your profit, just withdraw it as it may collapse soon.

streetstyle (72) · 7 years ago

@luja Yes I think you are correct in your assessment of the poor quality photoshop job they did. I think it is simply an embellishment to look good BUT if you look more closely, on the lower right there is a Real Banner and the logos on the glass door MIGHT be real.

One of the things I did find out is that Bitconnect is actually incorporated in Great Britain. Not that this info. helps or makes it any better. Anyhow, what you think of the picture now?

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luja (49) · 7 years ago

I actually didn't noticed that banner and the logo on the glass. But I am still not yet convinced that bitconnect isn't a ponzi scheme.

streetstyle (72) · 7 years ago (edited)

If I had to put it to numbers, then I am 75% ok with Bitconnect, but 25% skeptical that this could turn out bad for me and possibly others. Another thing to consider is if you simply bought the BitconnectCoin (BCC) last week and just held, you would be making profit of about $20 per coin just for holding.
You can hold the BCC in your Own wallet or on Bitconnects. I hold some BCC plus I loan to get the interest payments. I used to have a referral link on here but a big whale didn't like it so for now I am leaving them out. I see others posting videos and their referral links but they are whales so I don't see other whales telling them anything....anyhow, I recently received 50% percent of my initial investment, But I re-loaned it, I could not help it, I love risk I guess. Anyhow, I have now received 10% of my original investment, so hopefully everything goes well with Bitcoin and Bitconnect.

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cardboard (61) · 7 years ago

Interesting, personally I don't trust bitconnect - looks to much as a ponzi scam for me.

Also, some info about segwit2x activation:
https://steemit.com/bitcoin/@cardboard/bitcoin-segwit2x-update-we-just-hit-80-threshold

mrtip365 (42) · 7 years ago

I haven't invested in Bitconnect but What makes it look like a ponzi scheme? Where is the proof the word Ponzi is used way to often in Crypto most things people consider Ponzi or just outright scams most Ponzi Scheme's arent started with the intention of being a ponzi the owner starts with the intentions of trying to save the company and begin the ponzi scheme only to get greedy and the Ponzi takes over. So it would help if people who claim Ponzi actually provide proof and not beliefs. Provide proof with the word Ponzi proof is needed.

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cardboard (61) · 7 years ago

Thank you for the question. First look here:
https://bitconnect.co/bitcoin-information/19/investing-in-bitconnect-lending
Can you see something suspicious?
UP TO 40% PER MONTH
Dude - if you have a buisness that gives you return of investment at 40% - you don't open it for everyone. You just take a loan from a bank, invest it into your business and never worry about money again.
But how are they doing so much money monthly?
You can find information that:
This investment option involves profiting from Bitconnect trading bot and volatility software
Trading bot that makes 40% montly. And the guys share his profits with everyone from his genius trading bot?
Do you know, that the more people uses the same bot (same algorithm), the less effective it is?
If you want to give people 40% a moth there is only one answer: you give them money of the new people investing in. Sorry, it's a obvious scam that can last longer because clever new token idea.

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luja (49) · 7 years ago (edited)

They are not trading with a bot, they have a different strategy. They just said they earn through trading so that people will believe it.

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sanks7 (56) · 7 years ago

Thanks for update 1st August is important for btc.

dim753 (64) · 7 years ago (edited)

Great update about BCC and BTC. Thanks

shirish5 (57) · 7 years ago

Thanks for updating. Need to watch bitconnect strategy.

yaan (59) · 7 years ago

Hey @streetstyle, how is it going with your investment in Bitconnect?
As i remember it was around 36% money returned.

streetstyle (72) · 7 years ago

Hey @yaan It is actually at about 50% of my original money that has been returned, BUT I could not help myself and I re-invested that 50%, so now I am back to only about 10% of my original investment but my daily payouts have increased by about 35%. So we'll see how it goes!!

@yaan Are you considering bitconnect??

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yaan (59) · 7 years ago (edited)

Maybe with a referral program, it would be not that bad.
But they promise too much profits, something feels fishy. And even if it's real i'd rather keep trading, because it's the perfect time to accumulate tokens with volatile markets.

Craig-grant made a very smart move and got some insane profits with referrals and google-ads. Hope you will be okey too!

streetstyle (72) · 7 years ago

Thanks for the support @yaan and yes it does seem risky but there are trading bots out there that people have successfully used to make profits, so that is what I think keeps me with Bitconnect.

Another thing I like is that you can pull out your daily payouts at any time you want. The investment capital is locked though. Another 2 things that I also like is that the Bitconnect coin can and does go up and when other go down, it does not go down as much. Also, the daily payouts vary, so on a stable day, the payouts are less, but when Bitcoin is more volatile, the payouts are usually higher.
Finally, if you are considering, I would suggest to way until after this Bitcoin situation is fully resolved because Bitconnect has warned that they too will be off during Bitcoin Segwit transition near Aug. 1. So if they are 'going to runaway' with everyone's money, that would be the time for them to do so.

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yaan (59) · 7 years ago

It's risky but at the same time can be a jackpot.
I'm very curious about the results in next 2 months.
Good luck and success to you man.

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blazing (70) · 7 years ago

some nice analysis.

pronetmbjt (9) · 7 years ago

Waww fantastic sir :D Honestly i'm not too fanatical with gaming, but after I read your post, I became interested to try it because it looks very interesting. Thanks for the sharing, this is a very good post

bprasad (30) · 7 years ago

I'll be definitely closing my shop from 30th July till 4th August and avoiding any Bitcoin transaction. Thanks for the informative article. Upvoted!

mrtip365 (42) · 7 years ago

Why would you close anything closing could end up costing you in the end.

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vegeto (52) · 7 years ago

Take your profit out now , its going to be ugly

globalmaajid (51) · 7 years ago

very very thank for updating

dan90 (63) · 7 years ago

about to be the biggest ponzi scheme in history

beulahlandeu (53) · 7 years ago

Very interesting and informative, thank you for sharing. Please upvote my comment too.

rocksg (69) · 7 years ago

Due to the fear and being ponzi of bitconnect, I have not joined it till now. What are safe side factors to join it?

streetstyle (72) · 7 years ago

https://steemit.com/bitconnect/@streetstyle/to-ponzi-or-not-to-ponzi-a-look-into-bitconnect-and-the-bcc-coin

https://steemit.com/bitconnect/@streetstyle/to-ponzi-or-not-to-ponzi-a-look-into-bitconnect-and-the-bcc-coin-part-ii

read those post i made, should help with info. If you decide you want to try it, I have a link/code you can use, and if you do use it I give a small reward in steem too. Let me know and I can give you the code. Thanks. and good luck.

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rocksg (69) · 7 years ago

Which code and where to use it?

streetstyle (72) · 7 years ago

@rocksg here is the link

If you use this referral link, sign up and do a bitconnect investment/loan, then let me know, I also give a small reward in Steem. Thanks

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rocksg (69) · 7 years ago (edited)

How much min investment or loan? Can you delegate some SP to me?

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streetstyle (72) · 7 years ago

Minimum is $100 US in bitcoin @rocksg

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rocksg (69) · 7 years ago

It is too much for me.

streetstyle (72) · 7 years ago

@rocksg Don't worry it will still be here when you are ready.

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mombliss (36) · 7 years ago

Thank you for posting this. I think it will effect my reinvestment strategy leading up to the end of the month. I think that BCC will reopen after the scheduled closure. This is a valuable platform, I don't see why you would walk away at this point.

satx210 (42) · 7 years ago

Great looking out!! Keep On Steemin On!!

streetstyle (72) · 7 years ago

Thanks @satx210

avellana (68) · 7 years ago

Thanks!
@avellana

luja (49) · 7 years ago

@streetstyle Bitconnect is stealing people's money somehow. I guess I know their strategy. They are not trading with a bot or anything else @cardboard. They let people invest in bitconect and the more people invest in it, the value of the bitconnect coin will increase more. Consider, a man invest $100 in bitconnect in which you 'll get 1000 BCC(lets say), the man waits for year, he doubles his investment($200 total). But, he'll get only 4 BCC. why? Because the value has increased tremendously. If he had been holding the $100 worth BCC, he'll now become a millionare; meaning he'll earn more by holding than investing in bitconnect website. This is how bitconnect's stealing the money secretly and keeping the investors happy at the end.

streetstyle (72) · 7 years ago (edited)

@luja , first you say "somehow" then next say "I guess I know." Those do not sound like very confident statements.

Then you state "they are not trading with a bot or anything else" in a very confident manner when just a sentence before you sound so unsure.

Then your logic about investing $100 in Bitconnect is very confusing and wrong. So let's do the numbers correctly.
If you invest $100 in Bitconnect, you must first do so with $100 worth of Bitcoin since they don't take cash of any kind. Once you place your $100 worth of BTC with Bitconnect, it stays as Bitcoin until You decide to do something. You can leave as Bitcoin, or you can exchange it for BitconnectCoin.

If you exchange the BTC then you have BCC coin, you can hold it there, or you can download a BCC wallet, install on your computer and then hold your own BCC coins. You can also loan your BitconnectCoin back to Bitconnect to receive a daily interest/dividend payment on your $100 's worth of BCC coin. Here is where the information goes dark as for exactly what is happening behind the scenes for Bitconnect to be able to payout these rates. Bitconnect claims they use several trading algos/bots against Bitcoin, Bitconnect and other real world currencies or it could all just be a lie. Who knows.
If you do invest, the daily interest/dividends paid daily come back in US Dollar denominations, but you can't withdraw the Dollars, you must convert them back to BCC coin and/or then to Bitcoin. I do almost daily. I say almost because if I see the market going down, I keep my daily returns in cash. If I think the price of Bitcoin has bottomed, I then take my interest/dividends and convert them to BCC and then Bitcoin. If I think BTC is still going down I stay in cash until it starts back up.
I initially started with 1 whole Bitcoin, and I have now in 1 1/2 months with interest and referrals, receieved 0.5 Bitcoin or 50% of my initial investment. It would be in the 35% range without referrals.

So back your original $100 Bitconnect investment. Yes, lets just says that after 4 months of daily dividend payments you get your $100 back IN CASH remember, if you leave it in cash, and BTC price Doubles after those 4 months, then YES you missed out on Bitcoins Price gain BUT you still have another $100 invested with Bitconnect, of which you will still receive daily dividends, so you aren't doing bad until BTC more than doubles from when you start, and if you convert your daily payouts back to BTC then you don't miss out much. Anyway hope this helps alittle because there is much more I have left out.

full steem ahead!

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randowhale (67) · 7 years ago

This post received a 4.6% upvote from @randowhale thanks to @streetstyle! For more information, click here!

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ajaykawan (43) · 7 years ago

Thanks for information.

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booster (68) · 7 years ago

This post has received a 2.83 % upvote from @booster thanks to: @streetstyle.

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rtdcs (63) · 7 years ago

Thanks for the info! I will stop any transactions in this period.

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raviraj4you (4) · 7 years ago

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cardboard (61) · 7 years ago

Careful, it's impossible to mine bitcoin on GPU. It's a scam / virus / malware

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streetstyle (72) · 7 years ago

@cardboard, they aren't mining BTC. And if you decide to get BitconnecCoin, it is called 'Minting' because they do PoS and not PoW like bitcoin unless you buy the BCC coin, then you are just trading/investing. You can hold your BCC coin in your own wallet, leave on Bitconnect wallet or exchange for BTC or loan it back to Bitconnect and their trading software bot. That is what they are doing or it could all be ONE GIANT PONZI SCHEME. Who knows.

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ian4221 (36) · 7 years ago

You are correct, they do not mine BTC..but you can mine BCC its a scrypt based coin. You can mine it with a GPU, but I dont recommend that, since that is not a profitable way of mining, use an ASIC machine, the results will be better.. I posted up a blog about how I went about it, and how I came to invest into it. ..Hope you find it helpful..cheers!

https://steemit.com/bitconnect/@ian4221/yep-i-did-it-taking-the-plunge-into-bitconnect