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RE: Bold Statement: We Are Headed For The Dead Cat Bounce (A Must Read For Every Steemian)
HODL HODL HODL! I'm in long term for EOS, IOTA, Monero and STEEM! I don't need money for bills. Its all from money earned on steem and every day I'm earning more. OH! And I made money today on Bitconnect. Down market, up market...the bot makes money on volatility. Bitconnect only sucks when the market moves sideways and the bot can't trade and make anything. Bots are the future of the market.
Thanks for commenting. I like EOS, Monero, and STEEM. There is a lot of evidence to suggest that the Bitconnect bot doesn't actually exist.
I might change my bounce target on this to about $2,300. It is getting nasty out there. LTC and Monero have almost lost half the value from their peaks here recently. That is nuts!
All the banks use bots today. Charles Swab, JP Morgan, etc. They won't let you see their bots either. But they have been using them for almost 2 decades.
Haas online will sell you a bitcoin trading bot for a couple hundred bucks. Anyone today can get a bot and use it if you know how to program and code it.
I think Monero will come back. I'm hoping EOS will.
Of course there are bots out there but basically what I'm saying is that Bitconnect doesn't have any kind of bot that is able to dominate the market so much that it is earning so much that it is able to pay all these people all this interest and also referral fees and the whole bit.
If the bot was so good there would be no reason to pay so many people all this interest. Why not just pay themselves and keep everyone else out of the loop. With those types of returns they could gain so much money so fast and just keep stacking the profits.
It's just a Ponzi scheme with a Multi Level Marketing compensation structure stacked on top of it to get tons and tons of people to bring their capital to the table. When we have a real hard crash suddenly the system won't pay out and it will be over.