BitConnect is a High Yield Investment Program, aka Ponzi
BitConnect is an obvious scam to everyone, including those recommending it to you because they are making referral money off of you when you join and lend. Yet it's number 10 on the market list.
Greed is in full effect when people don't care about what they are involved in and boast about making money off the ignorance of the unsuspecting and inexperienced. Then people wonder why markets are so volatile. They wonder why crypto carries a bad reputation.
I'll extend this to the 'Bitcoin as a store of wealth' crowd who think BTC has a hope in hell of being worth anything if people just buy it to sit on. The reward halves for a reason, to stimulate transaction fee returns in the future on a larger, more robust network, eventually replacing new coin rewards. That can only be done by increasing use of it, not decreasing it by hoarding. If you want your crypto to have value, it MUST serve a purpose, and you should not only spread the word about it to everyone, but use it and be a part of its community. Be the example. If you sit on it, it dies.
Beautiful post
I don't believe its a ponzi scheme. It's been around for years and years and is doing better than ever.
it's been around for a year, relax. it's only going because of youtube scammers bringing in new people and watching them fail.
Good thing I did not out money in them =) craig-grant sure promotes the hell out of them!
Sure does. He is a well known, long term scammer.
That implies that you think ponzis are ineffective and nobody profits from within. Both false. It's only declared purpose with it's 'trading bot' is to steal value, without fail. If it's so fail proof and doing so well then why do they need to lock in your loan for 120 days minimum? It's not 'not a ponzi scheme because it's doing well. The only defense that keeps coming up is that somebody gets their money back, which is zero proof of how much is going out the backdoor.
Congratulations @cryptorounder! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @cryptorounder! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @cryptorounder! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!