Bitconnect investing misinformation - before I wised up: What you must know about your bitconnect investment.steemCreated with Sketch.

in #bitconnect7 years ago (edited)

![bitconnect first buy.jpg
()

This is a screen shot of my Bitconnect account home page. It shows my first few transactions before I wised up.
736.83 BCC at $0.19
1,000.00 BCC at $0.25
$390.00 total.
Then:

![Lending image 2.jpg
()
I got twenty bucks interest . . . so I was going in!
1479 BCC at $0.73
$1,080 dollars total.
some reinvesting latter of 35.13 BCC and I have a total of 3,250 BCC.
Worth at todays price of 11.66 a wopping
$37,895. and some change.
This total amounted to having spent $1,500 dollars.

What a Deal!
And lending those 3,250 BCC has earned me over $842.00 in just over a couple of months.
Biconnect lending image 1 for steem.it.jpg

Not bad . . . not bad at all.

If this sounds like what you are being told right now on this site by our internet crypto-gurus then you need to stay for the big finish.

///

The big finish is in the big words of the small print.

bitconnect capital back.jpg

Something bothered me about the lending.

Long story short. I do not get my 3,250 BCC back. Because according to the lending contract: I only lent what they were worth; which is $1,500 at the time of lending.
It's right there in bold letters. Capital Back . . . Your money . . . not the coin!
I will only get $1,500 back at the end of the lending contract plus my interest.

I voice my objection to support may times . . . "Not fair! not Fair! Not Fair!" . . . I Cried.
They explained that I was getting investment returns that may exceed the rise in price and if the price of BCC fell.

--------------------------------------------Someone please prove me wrong!!----------------------------------------

///

Why do I bring this to your attention now? Why is my $35,000 mistake important to you?

Because you are being unintentionally mislead if you are told that your lending investment will also return to you your value in the number of coins at the time of lending.
And people are getting a commission on this false premise. I feel that I have a duty to share this information that I gathered the hard way. And I would also like to participate in a referral program with the people who now gain the knowledge I have instead of watching others gain by the perpetuation of inaccurate information.
------------ If you think this information is of value, then please use my referral link.-----------------
I think that BCC is a great investment if you know what you are doing.

know your playing field!

Now with that said. There has to be a choice . . . if the coins are at their zenith then it is smart to lend their value at a higher price than they will be worth latter, or if they still have room to rise in value then buy and hold.
So if you want to invest in BCC and I still do -- I was quick enough to buy a few thousand before they broke over $1.00 (whew)
Please use this link.

https://bitconnect.co/?ref=Desertcreature


This has been Henry Gant, Man About Town . . . our town Steem.it

There will be more posts on Cryptocurrency because I see a need to inform with researched information.

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Great article.
I referenced it here in my opinion on the Bitconnect Scam Debate.
How's it working out for you, so far?

I've done extremely well. I can only wish that it would continue. Sadly, I do not believe that it will. Items such as "who is the owner? Support is nonexistent if at all. and lastly to good to be true.
I foresee it being able to run for a while after the funds have been absorbed into another address, and in fact, this may have already happened. ( a message to use another address for 'security reasons' has already appeared.)
I take all my profits off the Bitconnect website, I smile at the rise in Bitconnect price.
Market depth will be a concern when I cash out.
Mostly I can say, The learning was fun.

I have asked 15 support questions and got 15 answers.

Perhaps in the 4 months since I wrote this they were able to hire some one.

good luck and best trading to you @tedd.

H.G.

TheBlockchainBillionaire.com check it out.
https://www.theblockchainbillionaire.com/

Yeah dude we are throwing money just to learn man. Crypto is in it's infancy period. No other choice :(

That's how I've been learning.
Many expensive mistakes: That in its self is a good thing. I have been able to make a large sum of money and loose it several times. I plan on keeping this last go round.

i am still confuse with the bitconnect is it legit?

Let me give you an example of a legitimate trading company.

  1. I give them BTC and they use a bot to trade.
  2. I get a percent of the trade profit/loss.
  3. At the end of an agreed period, I get the exact amount of BTC I lent. Plus, my profit/loss.

None of the tricks or hoops that Bitconnect uses to separate the client from their initial investment.
IMO "No" this company is designed to walk away with the BTC.
It may run for a few years as long as no one wises up; because it uses its own coin and the lending is only numbers on a piece of paper.

I thought it was a Bitcoin trading bot when I first bought in.

Happy trading to you. Thanks for a direct question.

This is my most honest "gut feeling" answer.

What you missed about the program, which is pretty clear.. Is that your leading and getting paid in Dollars, not Bitconnect coins. They just make you convert it to their coins before making a loan. If you were supposed to get paid in coins then they would have said its a coin loan and not a dollar loan. They show all the calculations in dollars..

Yes, @julienjp, On my first few loans that is exactly what I missed.
That is why I wrote this post. To inform others of this mistake.
Thank you for your reply and best to your investments and trading.

Sincerely,

H. G.

So you got back all money invested, how much you made?? With how much investment??? In how many days?? If you can answer this , it will help me alot , thanks in advance :)

Happy trading

Henry have you heard of TCC? That's exactly what it does I've been a part of it for over 8 months now. It's brilliant, the returns aren't as high but it works and it's strictly just BTC and you get your initial back..

I've done some data analysis on BCC rate and BTC volatility. Pls check my post and let me know your thoughts:

https://steemit.com/cryptocurrency/@ka82/bitconnect-investment

I been very skeptic but i did invest 1040$ in Juli and so far i have been very happy with the return. The one thing that bothered me allot has been the fact that there is no face behind the company.
But apparently they will show up here:
https://bitconnect.co/system-news/82/bitconnect-conference-philippines

I still have my doubts if this can go on forever but so far i have taken out almost 1/3 of my investment in BTC and more than double my initial investment so i cant complain. In 4 month i should get our the initial money + 0.1% daily interest as well.

I wish you the best of luck/investing. I made a great return on my money. I always felt uneasy and in the end, I optioned to do my own trading. It's been more work and honestly not as profitable.
I leave a bit in Bitconnect and let it grow. I've made enough that it couldn't hurt.

Have fun, and thanks for writing.

H. G.

So if I am reading this right you earned $842 on a $1500 investment.

If I am correct in that, that sounds like an excellent investment to me. That's over a 50% return in just a few months.

Yes, at this time with the price of BCC over $11.00 then it is a good time to loan money to the trading bot.
Now that I am aware that I will not receive any gains from the BCC rise, then I will hold some out for that purpose.

Thanks for your reply. It seems to be a great investment when you are guaranteed to get your principal back, plus guaranteed returns at certain levels, that just seems mind blowing. I've loaned $100 to just try it out.

It is truly a great investment, if you haven't lent out on the site plz consider making a account under me 🙏

You could move your USD Lending earnings to BCC for a little of those gains, like using the exchange as well as their lending platform. Why not have a little of both?

I agree that it sucks to get your USD investment back, but at the time of my investment, I only put in $100 USD so getting that back isn't a big deal with the interest it earns us.

I can withdraw everything and buy BTC . . . I'll be much more ahead.

You are reading right, bitconnect is great. If you haven't joined please consider doing so under me 🙏

Since your capital is secured, they take the risk.. they should collect the spoils. Good to know though, thanks for the info

I am taking the risk. Nothing is guaranteed in an unregulated market. Anyone who blindly takes the word of others is on an unwise path.
I hope this information helps all of us to make better investment decisions.

Very much appreciate your sharing. Very well structured in showcasing the distinctive differences in buying and holding BCC and Buying and Lending BCC. Thank You.

Will have to check out the referral rates to see what that is all about.

BCC seems to be a distinctive compliment to Bitcoin. It supports in being it's own specialized service where you can create some for sure gains. That's good for everyone. Correct me if i'm wrong, but this looks like a win win all around

I can only hope . . . and test then verify . . . that it is a win-win.

Please don't use the Desertcreature referral link. I don't feel comfortable in promoting Bitconnect. An upvote would be most appreciated though.

Someone promoted your post. Promotions help every steemians.
Your reward is an upvote and 0.076 SBD extra promotion.
Good job, see you next time in Promoted! ;)

I'm not understanding your objection. You invested at the time when the price was x amount. You will eventually obtain x amount again.
If the price had fallen, you wouldn't be objecting, you'd be grateful to the company for protecting your initial investment.

How they see it is this.
X value of coin = X dollar value
Invest X value of coin =/= X value of coin at any other point
Invest X value of coin = X dollar value at that point in time only.
So according to their contract you didn't invest those coins, in reality you invested the dollar value.
If the contract was to just gain back the coins after a certain amount of time, and they didn't give it back, then I'd understand.

The only thing I take away from this is that you were too eager in investing and jumped the gun. shrug This is a tale in better discretionary actions.

My post is to warn others . . . now they have the benefit of my mistake.
Some Bitconnect sponsors are suggesting that an investor will gain the benefits of both a BCC coin rise and trading gains from lending. This is the main reason I wrote the post. I can no longer stand by and watch.
Either sponsors they are willfully misleading to gain referral commissions or they are ignorant of the facts, either way is bad enough.
Thank you for restating my post succinctly and clearly.

I guess by missing the point, I got the point......weird. :^)

You were right though. I did leap before I had all the facts I needed.
Now I know. And we can all make better investing decisions because of my mistake.
Your comment helped me see that.

I totally agree, should have had more in staking or just held bcc coins... I wish I new about bcc at that price

very good invest you $1,500 dollars

No, Had I known more about lending, I would have held BCC in my wallet while the price rose.
But, I thought as others are currently being lead to believe: That we would be able to take advantage of the BCC rise while lending our coins.
My entire post is about this misinformation.

bcc going to the moon this year :) congrats holders

I believe that it BCC has unique qualities that will push the price much higher. So now a balanced approach makes sense; some in loan and some held out of loan so that if it does go much higher then the gains will be realized.

Yes very true, so it's not fair to call it a scam just because you didn't balance it right in the beginning

It was great he should have held some coins, can't blame that on the system smh.

I did that analysis also I know.... it sucks; however I did invested... we'll see what happens.

thanks for the reply. @paolatoro.
I've done well, I just don't know if it will last.
I wish it would.

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