BitConnect Review Revisited - Has My Opinion Changed On This Platform and Do I Think It Is A Scam?
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Sean Walt, I am impressed about your video! You are absolutely right to warn people about HYIP like Bitconnect and all your arguments are strong and very reasonable to think about.
Anyway, even with all these doubts I had and still have about Bitconnect being a ponzi scheme, I also invested some money in Bitconnect. Here is why and how I see it:
As an example we do a 1010 USD loan:
Your receive around 1% (more or less) every single day + bonus of 0.1%.
This means in one month you have roughly 300 USD back. In other word in a little more than 3 months (if not earlier depending on bonus level and price increase of Bitconnect) you have earned your investment!
But by pulling out the interest continously you reduce your risk within the first 3 month.
https://bitconnect.co/?ref=Chuck2014
Looking forward to your comments.
One more thing:
DO NOT INVEST MONEY, YOU CAN NOT AFFORD TO LOOSE!!!
In particular when you participate in High Yield Interest Programs (HYIP).
@buildyourdreams I hear you loud and clear on that and luckily for me all of my money is tied up in long term projects which would prevent me from investing in something like BitConnect which protects me from myself if I was to ever get the itch to go back into the HYIP game.
Agree with your statement...its better to gain less than lose more... bitconnect is still new (too new) and too good to be truth to invest significant amounts $ IMO.
@buildyourdreams I appreciate your feedback and that is what others in BitConnect have pretty much shared with me as well. If I had not run a few HYIP's myself in the past and did not know what I know about them I would be tempted to invest. However, as good as the program looks and based on my past experience with them when I used to participate in them very frequently you just never see when the end is near which is why I could not invest in it even if I wanted to.
Thanks for this info as I was searching for different perspectives on this, so i can make an 'informed' decision
@buildyourdreams I'm glad that you see this as many others do not agree, but only time will tell.
Why do you keep speaking falsehoods in this video have you not done research into what you are talking about? you said 3 times about it not being on a "major" exchange we heard you the first time and its not even true. repeating falsehoods is false reassurance. Let me tell you the exchanges its on so you can know for your self my friend. 1. BCC exchange the #1 Chinese exchange which has TONS of volume. 2. Livecoin exchange my main exchange I currently use which many people use outside of china. also nova and coin exchange.
Next you other point is how bitconnect has no use case which perplexes me as lending is a use/service which is unique and offered by bitconnect them self's not to mention mining / staking and trading. You keep putting a higher value on bitcoin which contradicts this point when you mention use case over and over also repeating yourself which bitcoin has what uses cases sending for payment and holding for a store of value as bitconnect does those same exact things. Same thing with Dash and Ripple which are top 5 cryptos which have no use cases other then the 2 use cases I just spoke of. well sorry to say bitconnect has those same feature and even more if you include staking which bitcoin does not have or dash and it also has lending which bitcoin and dash to not have. So technically it has more use cases then some of the top 5 cryptos including bitcoin.
your next point you keep saying if this platform get "shut down tomorrow" which can happen to steemit or any crypto currency which uses a platform so the fact of it having a chance to close is not valid as any cryptocurrency/website can be "shut down" at any point which has not even happened and is 100% speculation which has nothing to do with bitconnect at all.
you claim if the website goes down you cant get out of it.. just so you know I have my bitconnect tokens in my BITCONNECT WALLET which you can download here https://bitconnectcoin.co/guide/11/How-To-Set-Up-BitConnect-Coin-Wallet-on-Windows-Operating-System my tokens are not on the bitconnect website they are on the bitconnect OPEN SOURCED BLOCKCHAIN just as bitcoin is which Is decentralized as it clearly states on the website if you had actually read the website instead of sitting on that one page the whole time.
you are doing a disservice to your viewers by not doing research or offering valid points or evidence of your claims and speculations which all this video is which many of the points are not even valid as proved in my response here.
then you say why would I change my bitcoin this appreciating bitcoin for bitconnect tokens? Let me explain to you why my friend a good reason would be is that bitconnect has gone up 5.5 times in the last 2 months which has way out performed bitcoin in appreciation which can be multiplied even more with using the STAKING feature.
I can not say you are offering real value here by you portray and you keep covering bitconnect over and over is quite funny that if its so worthless why would you keep covering such a topic.
@ryanblue7s I appreciate your comment as I can see that you are very passionate about BitConnect which can be a good thing and a bad thing. I too have drank the KoolAid and shouted the praises of many programs in the past, but I had to learn the hard way. I'm a decade deep in this, so I know what I'm talking about. However, when it gets listed on either Poloniex or Bittrex which are 2 of the top major exchanges which get the majority of traffic when it comes to cryptocurrencies feel free to reach back out to me. However, I will upvote your comment as I appreciate your passion about the topic.
poloniex is literally the worst exchange
@ryanblue7s I agree but it is still a major exchange.
It's a scam...
You can try to put whatever positive spin you want on it but if there was such a bot that could make these returns, Goldman Sachs or another huge bank would have bought it already. If you think this is a valuable and real service I have some Ocean front property in Arizona I would like to sell you.
uh bro it is super easy to make 1% as a trader that aint nothing I make way more then that . by calling it a scam does not prove anything at all I can call anything a scam thats not hard to do.
you cant buy a decentralized cryptocurrency that is not for sale
thats like saying why didnt goldman sachs buy bitcoin
This is terrible lol. Just the fact you said you can easily make 1% per day as a trader makes you even more of a scam artist. If you could do that, you would be running a hedge fund with billions in AUM and not making videos on youtube. The best traders in the world don't make 365% a year. Let me know if you are still a "trader" after you go through a bear market. Anyone can make money in this environment. Terrible...
Look up hassbots and Gunbot they make around 1 to 2 % per day. Bitconnect only promises .1 to .25%.. So yeah it's possible, throw in a coin thats increased 1000's of percent and you have something.
Also I see you disable comments on this youtube video which offers no one the chance to re buddle your claims I find that to be very lame which makes the option for debate closed.
@ryanblue7s I disable comments as that is my choice and I have covered this is past videos as my opinion is my opinion. If a person doesn't like it then they have other channels that they can visit. However, I'm very well versed in what BitConnect is as I used to run a few HYIP's myself. I do not need to have a discussion about what I know to be an HYIP. I did not call it a scam, but I just provided enough information for people to do there own research. If you do not like it sorry, but if these people lose their money and the program shuts down are you going to come out of your pocket and repay them the funds lost? I think not, so you can argue what the program is and what it isn't but that will not change what it is.
People make there own decision to invest into things and if they are not aware of any risks then that is there fault. You clearly are not well versed as you were unaware of the markets its on or the decentralization this video had 0 evidence and you sir have a negative mindset.
@ryanblue7s your right and that is why I'm retired and not hurting for money and you are begging people to invest money into a platform that offers no real value except to trade money back and forth between it's members.
man you just love to spew stuff out of your ass still just like the video. news flash dude I make over 7k a month and dont work a job . I love how you just assume I have no money and I have never begged anyone for anything you are a joke.
you waste your time making videos no one watches about websites not even worth talking about.
@ryanblue7s as long as I got you as a viewer I'm good.
hate to break it to you but I dont whach your stuff and by looking at your videos it seems not may are either when most your videos barley get any views.
@ryanblue7s I guess if you say so. It looks like the right people are seeing them as I run across people like yourself who are drunk on the KoolAid quite frequently. I'm sorry that I do not buy views to pump up my videos like the rest of the marketers. I will take a few hundred real viewers over 1,000's of bots any day of the week.
Good review. I recommend this video to be shared.
@mountrock Thank you.
Great video again @mrwalt, glad to see you are sticking to your principles.
@marcusxman I appreciate it as @ryanblue7s is just a little upset that I'm hurting his BitConnect referral business.
People can do their own research and make their own mind up. If it not you then other will also do their own analysis. It is just that your analysis shows a stronger case against investing. People can take a chance and make a small investment by taking the risk if they want.
@marcusxman that was my intent with this video and that was just to present a different option for people who may be trying to weigh the odds on if they should go all in or not. When people refer people to these programs they do not always think about the consequences on what if it doesn't work out as promised for all of the people they referred.
@mrwalt Thanks for making this video. I am still on the fence on weather or not to invest, but you made some excellent points that I had doubts about as well. I see a lot of BTC but locking my bitcoin up for 299 days has me skeeved out. Anyway. Excellent analysis. Followed and upvoted.
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