Here is the link to the open source code for Bitconnect--So flag away in 3...2...1...Go
I admit I have posted about Bitconnect a few times in the last week or so. And mostly in the spirit of transparency.
But here is what I am not going to do today:
1. Accept payment for this post.
2. Put my referral link in this post.
Upfront I have three loans out in Bitconnect. I get paid three times a day like clockwork. So my experience with Bitconnect has been fine.
Bitconnect says that it is open source and decentralized.
So after a few minutes of searching I found it on Github.
Here's the link to the Bitconnect page on Github.
I'm not a computer programmer.
But if Bitconnect is a scam it should be in this code, that's observable to anyone.
But from what I've seen, the major misunderstanding of Bitconnect has been this, you don't to have or make referrals to make money. None.
Also, no ONE Person, has my Bitcoin. I have sold Bitcoin, to different people, gotten BCC tokens, and then lended those tokens out. When lending, I'm not lending out Bitcoin.
Now Bitconnect may fail, and people may lose money.
But once I saw this, Bitconnect just seems to be a well thought out computer program that is making me money.
But I could be wrong.
So if you need to...flag away...
Right on! I will also just be sharing my progress Without any referral links. I'm making money just loaning out! Happy, Happy, Joy, Joy! So, flag me here too if so desired!
Thanks for this information! I plan to share this!
What you found here is source code for a Coin Wallet which has seen very little use. If this were the main source for the main project, its statistics would be substantially higher. Where is the REST of the source code? They may be using OpenSource, but that doesn't mean that they are OpenSourcing it, namely making that Source Code available for public inspection. If they are, I'd like a pointer to that!
"But if Bitconnect is a scam it should be in this code, that's observable to anyone."
Unfortunately, I think this key assumption of yours is erroneous. Can a Ponzi/Pyramid scheme be run with Bitcoin? How about with cash?
Where in the "code" would one look to establish that a cash scheme is a ponzi scheme?
Is everything Bitconnect.co does through the blockchain, or is much of it simply services through their website (BCC exchange, Lending, the supposed trade bot are not run on the BCC blockchain)?
There are plently of scams that could be done without so much as an aberration showing up in the source code. Bitconnect's internal accounting records, the identity's of it's users, and even who they are, is not known to or observable by anyone but Bitconnect.
The only part observable is the cruddy Zerocoin clone code at the github, which would essentially be like concluding that Bernie Madoff wasn't running a scam because he flashed some USD bills. USD bills are legit so Bernie Madoff is legit. Some aspects of the BCC source code seem legit, so Bitconnect.co itself is legit. I hope it's obvious that these are not sound and logical inferences to draw.
If I started a clone project of BCC tomorrow, where I just directly borrow your BTC(skipping the needless BCC entirely) but I say I'll later pay it back(just like Bitconnect says they will), would it be impossible for that to be a scam? Why?
Yeah.. its a fairly standard Peercoin/Novacoin clone.
The libzerocoin parts being tied in; who knows why they are there - however they are also in every PoS x11 coin clone known to man.