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RE: BitConnect Scam: How Many People are Involved? Post 4
The fact that you have had over 600 views and only 9 upvotes tells the truth. Nobody agrees with you.
The fact that you have had over 600 views and only 9 upvotes tells the truth. Nobody agrees with you.
That is a really interesting observation. And I appreciate you mentioning it. Time will tell. You see I think Bitconnect will fail and when it does people will be like "why didn't we see this coming" well some people did. However, if they ever come back to the post and see your comment which will be even mare valuable! Micheal Lewis's the Big Short explains the subprime financial crisis and the one guy who most saw it coming (and knew how to make millions) was ridiculed. (Lots of us saw it coming, most of us did no know about the credit default swaps or realize we could, or had the investor credential to be able to bet against it.) His investors were screaming for money back. (We are not just talking about he was under pressure, he was under absolutely huge pressure.) Well, We know how that happened. I have been involved in the stock market for a long time so I understand investors sentiment. I am not afraid to go against the crowd. I could be wrong. I have been in the past. I don't have that much pride to admit it. But I have done my research which I have presented. In the future it will be interesting to see how this turns out. I think it is fixed I would also like to point out that this post has $0.11 in rewards.
In Fact just for the record my 6 part series current is:
Post #1 Rewards: $1.61 Upvotes: 11 Comments: 10 Views 381
Post #2 Rewards: $1.24 Upvotes: 11 Comments: 8 Views 436
Post #3 Rewards: $2.12 Upvotes: 8 Comments: 12 Views 433
Post #4 Rewards: $0.11 Upvotes: 9 Comments: 29 Views 667
Post #5 Rewards: $1.90 Upvotes: 6 Comments: 4 Views 320
Post #6 Rewards: $0.27 Upvotes: 14 Comments: 9 Views 377
I will fully admit this doesn't make it worth writing the posts. I did the investigation more out of my own curiosity. I could write several more posts and have considered it; but with such little interest it is not worth it. The truth however is not determined by public opinion.
Bitconnect does not promise ANYTHING accept your money back. They are cash rich from holding bitcoin since 2016. They allow reinvestment daily. Compounding interest daily is HUGE! This is all done with software and trading bots. Bitconnect is not doing anything brilliant, just compounding your interest. Bitcoin is doing the Brilliance! Compounding interest daily at 1% will turn $100 into $5,000 in 12 mos. Bitconnect is not paying that 5000% ROI, just 1% per day, on average. Not sure if you heard but Bitconnect just announced their referral fees were being reduced to 3 tiers paying 5%, 3%, and 1%. You can make that adjustment on referral fees when your product is trading bitcoin, not signing up new initiates. Can you imagine the backlash of announcement like this for a multi level marketing company? Would be suicide. See my point(s)? Your post spawned my post:
Bitconnect - Compounding-interest-daily-is-not-magic-just-brilliant