If something seems too good to be true, it almost always is. The same goes for bitcoin "investing" sites like Bitconnect, Control Finance and Bitpetite. These sites are trying to take advantage of the fact that most people just don't understand how bitcoin trading works or how bitcoin itself works for that matter. All three of these sites can see a vulnerability in the bitcoin investing market and they are jumping all over the opportunity to cash in on bitcoin investors 2 weaknesses; 1- Greed 2- The fact that most people who invest in bitcoin, or actually, most people in general just do not know how bitcoin works. Most people assume that bitcoin is some magic money making machine which makes it possible for EVERYONE to make shitloads of money without doing much work to earn it. This can be true, if you know what your doing. If you do not know what you are doing than you might fall for one of these "100% guarantee profit" scam sites that have recently popped into existence out of no where. I do admit, they are smart for seeing this weakness and exploiting it before everyone starts catching on to what their real motives are, but that still does not make what they are doing "right" ..
If you heard about a company who you could "lend" as much money to as you want in USD, and in a certain amount of days (between 3-10 months) you will get 100% of your initial investment back, and at the same time be making .1%-5% daily interest up until the day you get your initial investment back, would you really fall for it? Think about that for a second.. Okay, now think about what Bitconnect and these other clone sites are doing right NOW... Just because they are doing this in bitcoin and not $USD$ people are actually falling for their scam just because people assume that they are actually able to make this much profit with the money that is "lent" to them... Yes there is some money that can be made from trading bitcoin to USD or other crypto's to USD or w.e but NOT as much as these sites are claiming to be making..
Now, I have nothing to gain by calling these sites a scam..nothing at all.. I just can see that normal people like myself are easily falling victim to these sites and this does not make me happy.. I actually almost fell for it also, just cause youtubers such as Trevon James and Craig Grant have fallen for it already, but after thinking about it for a bit I came to the conclusion that these youtubers must have fallen victim to this site and are unknowingly steering more and more people into the same trap that they are in probably to make themselves feel better about falling for this scam.. I know that if I had as much money invested in these sites as they have, and if I started to question the legitimacy of the site I have invested in, it would make me feel better if I wasn't the only [email protected] to fall for it.. Plus it would help me think the site is legit the more people who invest in it.
But, I am sorry to say, these sites are definitely not legit, not at all.. Just please do your research before investing in ANY new business which hasn't been around for at least 5 years.. Cause you never know the true intent of the people behind it, unless those people have actually told everyone their identities and how exactly they are doing what their business claims to be doing... If they cannot produce these 2 vital pieces of info then they are most likely hiding something, or they are not really as awesome as they are trying to make everyone believe..
But hey, if you still want to invest in one or all of these sites after reading this, might as well use my referral links, im not saying that people are not making money with these sites right now.. cause I know that people are making money through them, what I AM saying is that I really doubt the money will keep flowing like it is right now, and one of these days, maybe soon, maybe in a year from now, these people ARE going to run off with all your money.. Don't say no body warned you.
If you would like to thank me for the warning, just upvote this post so more people can be warned of these scams. That is all I ask from you. Thanks.
BTW I do hope I am wrong and that it is not a scheme, I hope it is legit and is what they say it is. I don't want anyone getting scammed. I do hope that this is a way for everyone to get rich to be honest. I am just having trouble seeing this being legit and seeing this make anyone rich who has $100 to invest. Cause if it were legit what would stop EVERYONE from investing and quitting their jobs? Nothing. Besides supply and demand. There just isn't enough people buying bitcoin to make everyone rich from this.