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RE: A Tale about Bitconnect ( or should you invest ? Spoiler : NO! )
Wait I actually have Bitconnect :/ are u saying I’ll never get my money back ? How ?
Wait I actually have Bitconnect :/ are u saying I’ll never get my money back ? How ?
You will get it back but you get probably less bitcoin back than you invested
Will I get the $1010 I put in , after the year period is over ?
yes.
But you should calculate it in Bitcoin. Because you will need to cash out in Bitcoin also.
If Bitcoin will be for example 60k you probably get less Bitcoin back as you invested which means you would make more with just holding BTC without the risk that Bitconnect might go broke or just disapear or something.
I am not sure if I got this math right.
I made in the last few days also many researchers about bitconnect and let us say that yes, it's a Ponzi for example. If you have many referrals you get a huge bonus.
But on one thing I am not quite with or maybe I don't get it right.
If the price goes up, of course, you don't get the same amount of Bitcoin back, but this amount is nevertheless more worth than before compare ton the fiat value.
The fiat amount is up that is right.
The btc amount though way down. If there is a trading bot or not is still unclear though.
It gives you a feeling of earning when everything is red which is probably one upside.
Interesting would it be to see how it works if btc goes on a longer bear run.
I lost around 2 btc with it will making over 10k in $.
Ok, will say from that perspective it would not be losing money(fiat) rather than increasing your money (fiat) if the price rises.
But yes, compared to Btc you will get less.
But i think that many people count in the fiat currency instead of the pure btc value
You’re right this would be really interesting.
You lost 2 btc? How is that and compared to which term? Could you explain it to me in more detail :) what was the actual btc price at that moment?
As long as they are around you will probably not be loosing fiat.
Compared to what I could buy back. You have to buy there token first called BCC and then you can buy BTC. All in their own exchange.
That's true as long they exist a huge amount could come together.
I put also a bit into it a certain time ago. I have already my money back and everything else is just passive extra money in the fiat value.
Now I understand what you mean.
BTC price was between 4 and 5k$
I just recalculated but it all depends on how the BTC price will be in January as I will be able to buy back then as my capitla will get released by then. BTC has to drop around 40% so I get even in BTC value.