Why bitconnect is a scam

--Introduction--

This post i'll make here is one of the biggest reasons made my steemit account. Getting sick and tired of all off scams and trickery in crypto.

This will be split in at least 2 parts, want to put out this as fast as I can, waiting for some emails and need to do some more background checking about the company.

--Post--

As this masterpiece of paint artwork shows you the artificial inflation machine (Bitcconect lending)

The key is that you have to lend out BCC in dollar worth and get BCC back based on the dollar worth interest rate, this makes you basically buy a token, lend it out, get less token back. But the token is "worth more". When the "loan" ends you get a dollar value in tokens back too not the actual number of tokens you lent out.

It also helps that you hedge against BTC with dollar, and BTC has been "steady" increasing in value.

So what are the function of the tokens? They could run this loan thing without them, oh wait no they can't because it won't "profit" without them.

Where is this bot? If its exist, it`s probably the best preforming bot ever made, why just not go to the stockmakert/Crypto and trade yourself you could possibly get more funding with lower payout demands if you could show that the bot is really profitable.

Terms for affiliate program

Though unlikely, Bitconnect reserves the right to adjust the commission rate as necessary to ensure the continued operations of the Bitconnect service

The MLM cheme

I really believe they look for youtubers and give them bonus payouts just to make them hype referrals even more. The youtubers will work to get more referrals and the people will under YouTube will push it and so on, it's going to pay to make other people invest. Classic Pyramid.

Excange

85-90% Of BCC is exchanged on a bitconnect controlled exchange might not be sketchy but could easily manipulate the market. Can't find any info about trading fees.

Mining

You can actually pow and pos mine this coin to but I think posmining is pointless because Bitconnect is probably holding a lot of coins. I don`t really have much energy left to research/calculate mining and there were a lot of red flags on this coin already.

Terms of use

Any technological difficulties experienced by the Bitconnect system may prevent the access or use of members virtual currency temporarily or permanently, depending on the severity of damage.

So they can basically take all your money and blame it on an error Woops.

Im tired

This is just some tactics, I don't even want to type out all of it. Its too much or am I'm a cross over analyzing with confirmation bias everywhere? There is a lot of manipulation here. For example a lot of trust building. Allot of bitcoin lookalike logos and a lot of "bitcoinyellow" everywhere. Site a has crypto news articles, daily divides, "trusted" youtubers and so on.

How it all ends

There will probably come a peak in the BCC System when a lot of capital is gained in BTC and the new user base and reinvestments is going down, the tipping point when the pile of BTC has maxed out and more went out than in, at this moment the exit will come.

They probably have some weird formula for this to trigger the exit.

They Will start to slowly dump there BCC holdings, Make like one year celebration of the site and make some really good deal just before exit. The site will go on some "maintenance" and empty all the wallets on the site. And fade away into cyberspace while some classic Wall-Street party will be somewhere with mountains of cocaine.

The company has until 31 June to file taxes, exit will probably be before then. Oh wait, I think if found there last exit scam. I'm not kidding found this popup after I did type the exit hypotheses.

--End Post--

Used a spellcecker so if something is not understandeble please comment below or if you have any questions.

If you want to help me grow my account, all donations will go back to steemit.

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