BitConnect Review - Will The Site Return To Normal or Was This All Planned Beforehand?

mrwalt (61) in dtube • 7 years ago

Watch BitConnect Review - Will The Site Return To Normal or Was This All Planned Beforehand? video on DTube

http://www.softwarexchange.net/yt - BitConnect Review - Will The Site Return To Normal or Was This All Planned Beforehand?

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7 years ago by mrwalt (61)

$12.77

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steemmeupscotty (58) · 7 years ago (edited)

Total ponzi imo - If I could find a place to stake a bet, I would. Why would such a financial 'powerhouse' need cheesy clickbait 'grow your hair back' etc ads on its home screen, and have tons of grammar and spelling errors? And that's just touching the surface.

Fomo (fear of missing out) has been pumping it. Many will be hurt by this, but I hope not, for their sake.

$0.62

11 votes

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mrwalt (61) · 7 years ago (edited)

I totally agree and many have stated this but the die hards only want to hear only the positive things even if they may not be true.

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1 vote

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steemmeupscotty (58) · 7 years ago

Funny how this kind of 'ostrich effect' has similar qualities as the ones of someone who's fallen in love with an obviously unfaithful person. And so hard to break the spell for them. Keep it up @mrwalt

$0.18

1 vote

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mrwalt (61) · 7 years ago

I agree and it is an amazing thing to watch the drama associated with BitConnect play out in real time. Once day people are panicking and the next day they are praising the site. Insanity!

$0.06

1 vote

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fiftysixnorth (63) · 7 years ago

Bitconnect always seemed like a ponzi scam to me. I wouldn't be surprised if it never came back online.

$0.34

3 votes

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mrwalt (61) · 7 years ago

Yeah, unfortunately that is the way that these things work.

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marcusxman (53) · 7 years ago

If the platform returns the people have no choice then to just continue to particpate because their principal is locked in anyway. All they can do is to make the daily withdraw until such time they get their principal back and hopefully before it goes down for good.

I also see the same people promoting other HYIP at the same time and this definitely does not bode well for them in the short/medium run. Like you said, don't go all into programs like these and to develop alternative income streams.

$0.21

2 votes

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mrwalt (61) · 7 years ago

I tried in this video to be level headed to and not come with the attitude like I told people so as I know how it is to have your money locked up in a platform where you are emotionally tied to the site. I wish this people well but I know realistically a lot of them will not be able to recoup their seed capital. If it does come back up I think too many people are worried now that it may not be what they thought it was and just try to withdrawal their money bringing the program down even faster. Just my opinion.

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marcusxman (53) · 7 years ago

I saw this morning that login are now being allowed so the site appears to back up again. I also see on CMC that the BCC price is down but I think the price is controlled by the lock in period that everyone is subject to. So whether they like it or not, they are in for the long haul and who knows, the downtime might have been a good thing because everyone will now be wanting to get their initial investment back first then reinvest later letting their profits run. Possibly a good lesson learnt.

$0.18

2 votes

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mrwalt (61) · 7 years ago

I agree and this should be a wake up call to those that are speculating and playing with money that they do not really have.

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ragnar14 (40) · 7 years ago

My my my, surprise...

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1 vote

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mrwalt (61) · 7 years ago (edited)

I only wish the people in the platform well and I hope that they are at least able to recoup their seed capital.

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thareen79 (26) · 7 years ago

Having a bot for crypto trading is actually not that hard to get or super expensive. There are in fact some surprisingly cheap ones (relative) if you are unable to write your own.
Any scripter or even programmer that is worth his salt and knows a how the crypto market works, plus some knowledge and understanding of the financial market can easily write his/her own bot and get it to work profitable.
Those that own and use a bot (whether they wrote it themselves or just bought/leased one) do make their money, but are usually not vocal about it.
About the 1% profit per day, that is actually very easy to get. A good and experienced trader or even a well written bot can easily get 5% or even more per day without much trouble.
In light of this, if they in fact have a bot like the ones i just described, they could stay a lot longer.
I have analysed that site in detail and came to several conclusions.
The referral program is actually not really hurting them. Even with all levels involved, they still make enough even with full payouts. It's simple math.
The 1% daily plus the guaranteed extra % for those that put in more money, can in fact be sustainable, if they did their homework. So far at least it looks like they did.
The fact that they have their own currency makes them a lot more stable. Again simple knowledge on how crypto-currencies work and the potential they have.
I am not saying that they are a scam or legit. In both cases, websites and services can shut down for a multitude of reasons.
One of those reasons is visibility. In some if not most countries the law enforcement agencies (LEA) do take a hard stance on anyone involved in crypto. Being anonymous is in this case a good thing and i can't really blame them for staying behind the curtain. There were already a few cases where LEA took out some people, sites and services that did nothing wrong (at least nothing illegal) but were just involved with crypto. Even just owning such can be dangerous.
Are they here to stay? Maybe, looks good so far at least. Will it be years or decades? Only time will tell. Months? Certainly. Years? Probably. A decade? Unlikely.
One more thing, people are fast in using the work scheme in a negative way. Everything is a scheme, it just depends if it is a good or a bad one.
In this case it remains to be seen.
Disclaimer: I am not affiliated with that site in any way. Yes, i do have an account there, but it is empty and got created for research purposes.

$0.18

1 vote

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mrwalt (61) · 7 years ago (edited)

Thank you for your opinion and your analysis on the platform. It is good to see the different opinions on BitConnect and platforms like it. My opinion comes from my experience as a participant in many platforms like it and as an owner running these platforms. My goal is to ensure that when people invest in these platforms that they are aware that their are risks involved and that they should be prepared on both ends especially if things do not work out as they were told. That all as everything is not what it may always appear to be. However, great response and I respect your opinion even if we may somewhat have a difference of opinion.