RE: Are people fleeing BitConnect?

You are viewing a single comment's thread from:

Are people fleeing BitConnect?

in bitconnect •  7 years ago 

So I spent a bunch of time on both the BCC and the bitcoin blockchain. While I wanted to write up an article explaining it all; I have not been totally able to figure it out; and quite honestly, spent time and effort on more worthy pursuits. But when I think is going on is massive moving of funds to confuse people. Imagine the following Scenario. We want to create a scam, yet hide what we are doing. (You have to try to think like an enemey...) Well They could create 5 (picking this number out of the air) fake accounts for every one real account. You could pay out small amounts of the money from a fake account to a fake account every day based on the interest rate. (This would make the fake accounts look more real.) You could also sweep all these fake interest payments back into any other sort of account. You could do this so that anyone who tried to look at all of your transactions gets really confused (it is working) and anyone who wants to "verify their transaction" can still do so. I think this is what they are in fact doing. It is a lot like a bitcoin washer or Etherium washer. i think they do this on both the BTC and BCC blockchains. While there is a cost (transaction fees) keeping everyone in the dark helps them perpetrate this fraud. I was getting so I was starting to figure out which transaction was which, but then I gave up moved on.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!