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RE: BitConnect Scam: How Many People are Involved? Post 4
In Fact just for the record my 6 part series current is:
Post #1 Rewards: $1.61 Upvotes: 11 Comments: 10 Views 381
Post #2 Rewards: $1.24 Upvotes: 11 Comments: 8 Views 436
Post #3 Rewards: $2.12 Upvotes: 8 Comments: 12 Views 433
Post #4 Rewards: $0.11 Upvotes: 9 Comments: 29 Views 667
Post #5 Rewards: $1.90 Upvotes: 6 Comments: 4 Views 320
Post #6 Rewards: $0.27 Upvotes: 14 Comments: 9 Views 377
I will fully admit this doesn't make it worth writing the posts. I did the investigation more out of my own curiosity. I could write several more posts and have considered it; but with such little interest it is not worth it. The truth however is not determined by public opinion.
Bitconnect does not promise ANYTHING accept your money back. They are cash rich from holding bitcoin since 2016. They allow reinvestment daily. Compounding interest daily is HUGE! This is all done with software and trading bots. Bitconnect is not doing anything brilliant, just compounding your interest. Bitcoin is doing the Brilliance! Compounding interest daily at 1% will turn $100 into $5,000 in 12 mos. Bitconnect is not paying that 5000% ROI, just 1% per day, on average. Not sure if you heard but Bitconnect just announced their referral fees were being reduced to 3 tiers paying 5%, 3%, and 1%. You can make that adjustment on referral fees when your product is trading bitcoin, not signing up new initiates. Can you imagine the backlash of announcement like this for a multi level marketing company? Would be suicide. See my point(s)? Your post spawned my post:
Bitconnect - Compounding-interest-daily-is-not-magic-just-brilliant