RE: Exposing the BIGGEST SCAM in cryptocurrency: Trevon James and BitConnect

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Exposing the BIGGEST SCAM in cryptocurrency: Trevon James and BitConnect

in steemit •  7 years ago 

Hmm, you made 4 times in a year? Let's see, if you had invested your $ in Bitcoin directly over the same period you would have made approximately 8X so perhaps it's not such a good deal?

Here's the problem, Trevon himself describes bitconnect is totally related to bitcoin and he doesn't understand it. As long as BTC goes up the ponzi will not fail. Unfortunately when / if it goes down for any sustained period it will surely collapse.

Cloud mining (which I did a $1000 test on) is similar. You can't possibly make money in real BTC terms. By that I mean, I have made money with Genesis in approx 3 months which is great! But the same amount invested directly in BTC would have made me 3X so actually not that great.

In summary, beware. Just because you got in early and "made" money does not mean those investing now will not lose it all. Equally, bitconnect is relying on people reinvesting. Remember, as with stock investing, until you have the real cash in your hand it's all paper profit. (I know, I'm such a novice referring to fiat as real money!) :-)

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