Although I signed up for BitConnect, for now I will refrain from promoting it after seeing this video.

While I'm not certain it is a scam because the coin doesn't have any utility outside of the main website I would say it's not any safer than owning MtGox tokens or anything similar. What if the people calling BitConnect a scam get the site shut down and then what happens to whatever we lend? Also who are they lending the Bitcoin to? Most likely to provide liquidity for their website which makes sense because they have an exchange.

I think they could stay open indefinitely if they expand their exchange to include other coins but because they aren't doing that I'm not going to promote them.