[Bitconnect] Is it a scam or not? Here is my take on the question and thanks to @pfunk for getting me back on tracks with my personal principals.
My story about Bitconnect
When I first saw Bitconnect I thought it was the most crazy concept in crypto, since they have a MLM and a trading bot that you can buy into. I wrote this on one of @craig-grant 's posts and the day after he was all over bitconnect, unfortunately I didn't put a ref link in that comment, if I had done that, I would potentially have made 7% of all Craig Grants loans to the Bitconnect lending bot.
I signup after seeing Craig signing up and I made a few videos about Bitconnect, then I left it for a month and came back to it to try to make some promotion, utilizing Steemit and youtube for my promotion. It resulted in that @pfunk flagged about 1 week of my posts that had decent payouts, so all the nice payouts where gone, even on posts that had no connection to Bitconnect, but where I had the ref link in it.
So I went to meet with @pfunk at steemspeak, I must admit that I was very up sat, as I didn't think I had deserved those flags. We made an agreement that I would remove the lniks to Bitconnect and the would remove the flags on my posts. So we did.
After that I flagged some of the people from SteemSpeak, as I was out of my mind at that point. I want to appologyes for this right here and right now and those flags got removed again after 24 hours or so. Sorry to @battleaxe (for the flags and the mean comment I did in the chat!) and to @whatsup - I hope you will forgive me, I was out of my normal balance that day.
It took me some days to realize that I was ignoring one of my core principals (never to trust your money to a 3th party, now that we have the blockchain) when I first joined Bitconnect, since I was only thinking about the potential high profits from the program. Thank you @pfunk for getting me back on the right track and thanks everyone for the patience with me when I get out of balance!
So is Bitconnect a scam?
I will say that you hand your money to a 3th party company and they can potentially steal the money, they do that while leaching on blockchains good name and principals. So it is potentially a scam. One could see it as a gamble on when or if the company decide to run away with the money.
So should we flag everyone that promote Bitconnect on Steemit?
I know that other people are promoting it on Steemit with great success. Craig Grant as one of them that I guess do it the most and reach most people. The problem is that he is also promoting Steemit at the same time, as was my idea when I first thought about this, so the community I guess is winning on it, but on the other hand he is promoting a company that uses doubtfully business moral.
I will let the community decide whether or not Bitconnect promotion should be flagged on Steemit.
I still have a $600 loan with Bitconnect and I will not lean out more money with Bitconnect.
Lasse Ehlers
Fiat money = Evil
Crypto money = good
You will find that the masses are the new elite and we unite on Steemit.com
Steem on !
Hello @lasseehlers
You get my vote today!
Bitconnect is a scam. They can keep it up for some time but it is a scam. The reason is that they are lying about the trading bot and what it does. I have been doing arbitrage in some of the biggest markets in the world. You will make money if you do it right but not very much.
It sound nice when they explain it, but it is a lie. When they lie it is a scam. I can explain everything in detail but it will take to much space and time.
Should we down vote or flag people for promoting bitconnect? Yes all the time. On Steemit we help each other. So explain and flag. We did that with onecoin and people do not promote it anymore.
Have a nice day everybody!
Thanks for the upvote and I agree with you.
You're a good dude Lasseehlers. Hope you are well.
Thank you @jacobts and the same to you.
Finally we have a place where all the good people meet... I guess I forgot how great Steem is and that we don't need to bend down to lower standards in business moral anymore.
Well said friend. I tell new members. Please don't worry about the money, the money will appreciate as long as we appreciate each other.
So true, we have seen that with the resent raise in the Steem price.
the only bit about this post i did not like was you using the term, new elite. i don't want any elite but i guess that's just an issue of gentrification and greed, i'd prefer to see a shared spread value exchange instead of a newer more digitally savvy elite - props for this post regardless.
It was kind of like a creative way to describe how I see the world changing with crypto currencies. If the masses is the new elite, there is no elite.
Thanks for the positive comment about my post.
RESPECT (fist bump) @lasseehlers
You have been PROMOTED FREE for using the "scam" TAG (hashtag)
https://steemit.com/promoted/scam
Thank you @lasseehlers. Apology accepted. I was confused at the time, about why you were angry with me. No worries. I appreciate it.
My first post on Steem was about BCC. I wholeheartedly believe the program is a big bubble they are letting us blow in their "saferoom". When the time comes they will pop that bubble and make out like bandits with our BTC as we all get stuck with BCC.
I am new to steem and haven't flagged anything yet as I get used to the platform, but if someone with a reputation is pushing this crap they are doing so knowing that one day a ton of people are gonna loose out. Either that or they are really clueless in my opinion.