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7 years ago in #bitconnect by bola (67)
$4.34
- Promotion Cost $0.00
- Past Payouts $4.34, 0.00 TRX
- - Author $4.11, 0.00 TRX
- - Curators $0.23, 0.00 TRX
You know, there is just something, I don't know what, but I end up researching Bitonnect, then stopping, going to the site, then xing it out, I just cant get into it. Something sketchy about it lol
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Bitconnect is mainly a Multi-Level Marketing pyramid scheme with a crypto coin attached to it. I hate when I see this stuff in the crypto space because it will ultimately give the whole thing a bad name.
Agree...thumbs up @Bola
Thanks.
@bola you welcome. Would like to connect with you, have a lot to learn from you. A Nigerian?
Yep poloniex is best lending-platform. But for me lending bitcoins it is really bad idea. I got scammed on btcjam :/ never again
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Thanks for the info, the real problem for me is the lockup period, in the land of crypto that seems like an eternity. On the flip side daily compounding makes a big difference compared to longer term compounding...overall probably not enough to offset the lack of liquidity of the lockup. Cheers
Thank you, cheers.
"First of all, I'm not sure Bitconnect knows what "Lending " means. If I lend my neighbor my lawnmower, I expect to receive my lawnmower back not the US dollar value of my lawnmower."
thanks for the advice
No problem, thank you too.
thanks for the info
Thank you.
Correct me if I'm wrong, but if you invest $10,000 - say at Bitcoins price of $2,500, that would get you 4 BTC. With Bitconnect, I would make $120 a day for 120 days (14.4K), plus get my 10K back. The only way you would lose is IF Bitcoin went to $3,600 in this time frame.
Looking forward to hearing your perspective on that.
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I still don't see it. I mean, if I invest 10K into Bitconnect right now, I would get $14.4K back plus my 10K investment. Bitconnect is currently worth $49. So if I purchase 10K at $49, I would get 204 coins. Those 204 coins would then have to be worth $70.5 dollars by the end of 3 months for me to make $14.4K. It could be $70.5, it could not.
I'm playing devils advocate because it's an interesting concept and I've been on their site several times. I deposited money and I took it out before I started a loan. That happened twice just because I thought it was suspicious. I still intend on doing a loan but don't get me wrong, I have my speculation. Regardless, it's residual money and you don't have to worry about the price of a coin. You can just collect USD if you want to. There's no bank on earth that will give you a return like Bitconnect. While it might not be the best strategy to collect coins or accumulate coins, it's not a bad way to make USD while you sleep. Especially if you travel full time to countries where USD goes a long way and you continuously have it pouring in :)
Exellent article!
Thank you.
Thank you for sharing 😄
Thanks for the info. I've been thinking about btc lending a bit for safe solid gains, want to do more research before I give it a go.