Is BitConnect A Scam or Not?

in #bitconnect4 years ago

I'm trying to figure this out ...

Several videos are saying they 'are' scams, while others say they are not a scam. Of course the people who say it's not a scam, benefit when YOU sign up. Unfortunately people are not always scrupulous when they get rewards for their efforts.

Video One - Is Bitconnect A scam?

I always listen to EXPERTS with 'experience' - someone who's been around, has more to teach me than a newbie; Too many Newbies are pushing Bitconnect. Lots of Fake MLM Leaders, including MLM leaders who I KNOW are crooks, are in Bitconnect. So I've been skeptical. No information I find helps me feel like it's "worth" my Time or Money.

Please stop following the WRONG people - THINK about WHO you LISTEN to!!

Research and know what you are doing.... please.

Video Two - Did Bitconnect Steal My money?

Here is a scam artist from the MLM world who I personally know has "stolen" reps from people over the years. So as he jumps from one opportunity to another, lots of people blindly follow; and sadly he will make money while the rest - Get Scammed.

Folks. You gotta be REALLY careful out here. I had a good friend call me up and ask me about a Bitcoin MLM. I did not even get the 'name' of it, but told him to be wary. My advice, dump your money DIRECTLY Into the Market. Buy Bitcoin itself; Don't lend it out - and continue to 'add' to what you own; Over time, as the price continues to go up so will your money.

THEN Start looking at smaller altcoins, that have documentation and actual 'purpose'. Because those coins could one day be worth as much as Bitcoin, or Ethereum are today. I personally LOVE The MLM business model, but sadly too many of the 'wrong people' are in that industry.

It would see, that Bitconnect IS nothing more than an MLM company. It's a matter of time, before they are shut down.


I am beginning to think it’s not a traditional ponzi but a complex scheme allowing the owners to make payments due to controlling supply of BCC (due to premine). There are many posts on this but I can’t find them at the moment as I’m mobile. Sorry

It looks like that was the case indeed -

Glad to see someone else who does homework. You might find my series interesting.

I've been a business owner since 1999 and I always give credit to my Mentors - I was blessed to learn from Some of the best -- in the MLM Space; back 'before the internet', when people appreciated the profession much more. You had to be a student, really, to make any money at this. Not too many people are 'naturals', but the ones who are always overlooked the 'studying' part; from being in a hurry and what not. The internet just made that issue a bit worse - even more short cuts; for people who are even less informed; and this translates to all areas; beyond MLM; even in the ICO/space - as I'm sure you know; and that of course full circle brings us back to Bitconnect; I'll check you out and see what you're putting together on this; I see you're 'also' pegging it as a Scam though --- am I right?

by the way @cryptick -- found a small typo in your first paragraph bro.

Bitconnect is a pyramid scheme, still up and running, but like all pyramid schemes doomed to collapse. How can one tell bitcoin is a fraud?

Pretty sure you meant 'bitconnect' there; I'd 'inbox' you but smh ... no inbox on Steemit

awesome; you are welcome! - lots of good stuff in there

People were warned!