In a risk to get into a huge hot debate over this here on steemit I wanted to bring up an important message about Bitconnect and shed some light on it so that we can all try and help prevent this from happening again.

I have been in network marketing for over 15 years so I have seen scams come and go. There are ALWAYS tell tale signs if a program is a scam or not.

In this post instead of pointing blame I wanted to share some insight of my 15 years of experience so you know what to look for before investing.

To get the legal junk out of the way

• NO I never invested nor promoted bitconnect in any way
• I saw the flags and did warn people this does look like a scam, a pyramid scheme and a system that eventually could not support itself.
• What I offer here is simply my own advice and knowledge and is by no means legal or professional advice. Take responsibility for your own actions and seek professional advice before investing.

I am a very VERY firm believer in learning lessons and moving on, its what life is all about. The only real person there is to blame is yourself. When it all comes down to it the choices you made are who you are and lead to where you are today.

I know bitconnect is only the first of many scams that will come out in cryptocurrency. Heck they still happen in online marketing to this day using FIAT it is why we have the SEC and why they continue to close down sites. (in which they end up keeping all the money and investors pay for the trial etc) Which they even say in this hearing - https://www.c-span.org/video/?440770-1/jay-clayton-christopher-giancarlo-testify-hearing-virtual-currencies (things that make you go hmmmm)

Things to look out for

• Is the company registered or is it UK based - those UK based business papers you see on many of these so called investment sites are pure crap and if I ever see one that is enough for me to turn away. They are there to build trust and make the company look reputable however for me it is a tall tell sign this company is not to be trusted.

• Do they promise returns that are far to high to ever sustain?
  If a company tells you your going to get 40% of your investment every month well then that means after 3 months you will be 20% in profit and continue to build that. 40% over the course of 12 months is 480% that's just stupid anyone promising that you only earn 2% in the bank if your lucky! It simply is not sustainable and that money has to come from new investors. There becomes a point where not enough money is coming in to pay out those "guaranteed earnings" and the company cuts tail and runs.

• Support and contact information
  Can you get a hold of support?
  Is it good quality answers your getting?
  Is it taking them over 72 hours to get back to you?

These are all signs this is a not to be trusted company and an extremely high risk investment.

• Does it offer more then one level of commissions ? If you start seeing more then one level of commissions for referrals this screams pyramid scheme and you will often notice the large percent earnings are always on level 9-10 etc the very last because it is near impossible to ever get there!

• A promise of return of capital after a certain number of days

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While I understand people are extremely angry over bitconnect and those who promoted it I have these questions for you.

1. Did you do your own research before investing ? and if not should you have? (lesson learned)

2. If you promoted bitconnect as an affiliate are you just as much at fault in this company being a scam?
   Are you as a promoter at as much fault as the owners of the company?

3. Do you believe that people who do launch sites like this should be locked up for good?
   (I could be wrong but in every case I have seen that goes to the SEC takes 2-3 years of court time, ends up with a heavy fine which is paid to the government, and perhaps a few years in jail) Many of these people end up launching another site after!? I personally feel these people deserve a life sentence and no internet access ever again and to be watched.

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Would love to hear feedback from those effected by bitconnect to see your own side of the story and those who warned not to invest. Thanks!

The point of this post is to spread awareness so you are not a victim again nor promote something you know better not to

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