RE: [Warning] Do Not Invest in BitConnect, it is a Ponzi Scam! Read these 10 Reasons Why
Very good detailed post.
I have had a lot of hate for calling this a dodgy platform and probable scam.
On the companies house front.
Unfortunatly back in early september a group of marketers set up bitconnect international and another bitconnect listing. The latter is now bitcoin amr so watch out for that.
Not sure if the uk gov is looking at them too but i hope so.
The first listing was an obvious fraud listing.
From the bottom of my heart i thank you. Im not the best at writting and would never have out together such a good post. And its nice to not feel so alone with my stance.
Also food for thought
Mathematically its more profitable to hold their token than loan it to them. Based on figures fron june 4th/5th to oct 2nd this year. Without reinvesments or referrals but including 0.25% bouns. You could of made 20k more on a $10010 loan of you just held the token amount instead.
I only add this as people seem to respond to the $ value of all this than real logic.
All my findings are based on historical data from bitconnects own site for interest payments and CMC for token value growth during the time period.
Id also like to add that after a flash crash bitconnect admitted they hold enough bcc to stop tge market crashing or going to high now. So you can add market manipulation to the list.
All mr grant IMO is not a nice idividual. I was in a chat back in late may early june on facebook with him. Its sole purpose was to create more marketers and a bigger chain. They way he spoke to anyone who didnt 100% with him was awful. He treated people like dirt and it was a classic "this isnt right" kind of vibe and he knows exactly whats going on.
This is how i know most youtubers are only reinvesting a small % referral money for the camera.
Thank you for your comments. I feel what you might have been through.
I had a lot of love for this post until now but I see smaller accounts only there to promote Bitconnect Ponzi are coming at me right now.
Luckily in Steem it works with reputation so they are harmless and I feel that experienced Steemians mostly agree with the fact that it is a Ponzi.
For the longest time ive tried to be nice to the people that disagree. More in an attempt to get more information or proof of the claims. But all seem to just basically say "but its paying"
Its like talking to a wall lol. Now i just spend my time mocking if they come around. Maybe i shouldnt but after 3 month what more could i really say that might help them out to realise its a damn scam smh
I started flagging these level 25-30 that come to say "Invest in bitconnect" then you go to their account and it is 2 posts with one of them is an affiliate link to Bitconnect of COURSE!
War is on ! And I am going to protect the less experienced investors into not falling in the Ponzi Scheme Trap (and Bitconnect is just one of them unfortunately...)
Reporting for Duty SIR!
Ask not what crypto can do for you, but what you can do for crypto!