So I decided to ask BitConnect the following in a support ticket. What are your thoughts on the response?
Subject : Other
Title : What's your incentive?
Message : I'm just curious - if you are achieving +1% a day, and have full time employees - then why not just set aside $100k, compound it with your lending and retire the whole company in a year or 2 with a few billion dollars. The returns are crazy! I hope they stay this way. Thanks :)
The response I got was this:
We still trial testing everything based on volatility software. We are planning to update volatility algorithm adding more cryptocurrencies. The 1% daily is not guaranteed by system, it depends on market, some days it may be 0%.
So take from it what you will. They were straight up about interest having a possibility of 0%.
I'm not going to link any affiliate stuff. I got flagged for it when I wrote an objective piece on BitConnect outlining the risks, and that it's not all guaranteed sunshine and happiness.
you heard about the recent ethtrade.org scam,billion of dollar laundered by them.dont trust anyone.always keep your precious cryptos with ur private keys.
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