Bitconnect Is A Scam - Red Flag #2: No Exchange Support, aka "Completely Fabricated Market Cap" - Dark Pools Don't Define Liquidity
You can't run your own effectively-dark-pool exchange and expect others to believe the market cap resultant from your "price discovery".
However, that is exactly what Bitconnect is doing, and I don't know why CoinMarketCap considers it legitimate.
Here you can see that over 91% of BCC trading takes place on the internal BCC exchange:
This is not a normal situation. Even Iota, the most thinly spread of the top cryptocurrencies as far as exchanges are concerned, does not rely on its internal exchange so heavily:
What would happen if the Bitconnect Exchange went off-line, or the website?
My guess would be a flash crash.
Eventually, this is exactly what the Bitconnect chart is going to look like. However, it's not going to stop at $13.
Stay tuned for Part 3, where I make fun of anyone using the term "down-line" un-ironically.
It really is a scam and within the next few months its going to catch up to everyone and they are going to get really really shady with delayed payouts, low values etc. The entire system just screams that of poniz screams yet people still promote such junk.
"“I cannot imagine any condition which would cause a ship to founder. I cannot conceive of any vital disaster happening to this vessel. Modern shipbuilding has gone beyond that.”"
-Captain of the Titanic
"...next few months...." People said the exact same thing a few months ago. I'm still riding my horse. Autobots run wall street. They will run the crypto-verse as well. BCC is just the beginning.
Why do you not make a video about it on youtube?
You already did the thinking and wrote articles.
Why not share them with your video recording device, a larger crowd and get paid more for it without the payout deadline of steemit?
It is not an instead, it's an extra.
I just haven't broken into making videos yet. It's not a format I'm as comfortable with, and I've noticed the monetization potential is going down on Youtube, while the censorship potential seems to be also going up.
Except from the 10,000 views required to start counting advertisement views, what else went down in the monetization potential?
They are starting to demonetize some users videos on what can best be described as political and ideological grounds. Sargon of Akkad and JerryBanfield are both being selectively demonetized, and they are very, very different in content.
It's basically censorship towards the lowest common denominator.
meep
but they're trading bots are one of a kind man haha!
Hey, if that turns out to be true, well, this will all make sense!
You don't even need a fancy High Frequency trading bot, Bitconnect probably has any aftermarket bot they just built a business and ecosystem around it.
Nice article bro. Its good to finally meet you at the poker table.
https://steemit.com/@slickhustler007
The BCC platform appears to be fully awake with a current BCC price of $123.10!
I can't argue on that point. Some on reddit are speculating the 0% returns are to attempt to recover some of the lost funds,
Your daily interest today is 0.00000001% ... whilst we scrounge around the basement for the family silver!
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