the risk I took was $100, earned back 25 times more already
RE: The BitConnect scam exposed
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The BitConnect scam exposed
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Well, good for you, but you have been warned now. I'm assuming most of the income was from referrals. Are you the guy from YouTube?
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cryptocurrency is play money, nothing to be warned or worried about
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I guess we will agree to disagree about that :P
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Play money has real value but if you are putting it into a centralized exchange (Like BitConnect) then you're taking the risk. If BitConnect is a scam aren't all centralized exchanges also scams? Some other exchanges offer the loans too and use bots for liquidity. These are unregulated exchanges so do you suggest they should be regulated?
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Bitconnect is offering higher returns because of their "trade bot" without giving any information of its results just handing you numbers on their platform you have to trust.
Of course referrers make money, just like they do on any other ponzi if they are in there early. Comparing bitconnect to normal exchanges is absurd. They don't require your funds to be locked for 150-300 days.
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Maybe we need a BitDISCONNECT meme! Ha ha!
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Thanks @thegrinder. I found this when trying to quickly get to the bottom of bitconnect. Would love you to give my article on Token a look over - https://steemit.com/token/@fraserb/token-browser-targeting-2-billion-unbanked-people-through-blockchain-innovation
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Must feel good having a lot of people lose money if this indeed turns out to be a scam.
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i am in the same boat as everyone else invested, and I am prepared to lose $200, no problem
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What about the extra 12.5x of your earnings whike actively promoting a scam? I'm glad I didn't listen to any of these.
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I dot think int's scam, and I can wait a few months to know I'm right, if it does turn out to be a scam then I can delete all my videos that talk about or link to Bitconnect. In the past I did the same for Genesis when so many comenters were calling it a scam, I deleted all the videos and restarted promoting it a few months later. I remember when steem was a scam, and when dash was a scam. Time will tell
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Yes I remember that. I totally agree with you on this. When people don't try it or understand it they call it a scam. Just as they did With DASH, Genesis-Mining and Steemit.
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There is no question BitConnect is a scam. It has all the characteristics. Early adopters to these scams who know when to get their funds out can realize those returns, but only at the expense of the principal of all the other suckers who put their money in afterwards. If you promoted this to your YouTube audience, then I'm calling that a misuse of your influence.
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here is a steemit post about someone who loaned $1500, got it back, and made $842 in profit on the loan. https://steemit.com/bitconnect/@henry-gant/bitconnect-investing-before-i-wised-up-what-you-absolutely-have-to-know-to-gain-on-your-bitconnect-investment
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And I won't be following that guy either. In fact, I will not follow anyone who promotes these types of "programs." Sure, they are allowed to exist, thanks to the industry not being burdensomely regulated--I get that. But anyone who promotes such schemes is displaying a profound ignorance of sound investment principles and quite possibly also a subconscious view of their audience as a thing to be parasitized.
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lol, wow. You'd think after all the time you put on the platform you'd know the difference between a project that in no way requires you to put money up front to be able to earn cryptos between one that does.
That's why I've been negative towards you pushing referrals as if its your day time job. A project that requires new investors to place 100 usd up front and the ones referring gain a % of that is a huge red flag considering no other genuine cryptos allow that. To top it off your funds are locked for x amount of days. Genesis mining is different in this regard, but bitconnect started to remind me more and more of MLM scams like Onecoin.
How does you deleting all videos of bitconnect help the users you referred who may lose money on it while you have gained a % of the money they have put in?
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the same thing that got me to do a $100 lean with bitconnect is the same force of nature that drives others to do it, so I am in the same boat as them, my subscribers hear me preach about personal responsibility everyday, no praise or blame games
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right now I can upvote myself 40 times per day and earn about $30 worth of steem because I have 100,000 steem tokens locked up. I could lock up 20K in bitconnect for 120 days and get paid daily for that, but it has to be locked up in USD, whitch makes the payments higher. It's like saying I can lock up my steempower for 120 days as SBD and get paid for that
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There is a difference between an open-source project and one that promises returns from a closed sourced trading bot. The numbers you see and receive on their site will mean nothing once they decide to shut it down and run with all the collected USD. While no one other than you has control of your Steemit account.
Sure, keep comparing the 2 though.
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bitconnect would shut down if there is no demand for the bcc token, and with their referral program being so lucrative, the bcc token will have demand
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I agree with you, but -- how would one access their STEEM/STEEM Power if steemit.com went away?
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Alright! only two things to play like trading win or lose nothing to worry that much I am prepared to lose and really appreciate when I won, At least I tried and not just speculating rock in roll to the world oh yeah!
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You, yourself not investing much in this. You have invested about $700 but you have earned much more from referrals.
Not all will get this much referrals.
You are not taking any risk of loosing money because you are not investing in it. You just want to earn from their referral program.
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