Bitconnect - Why i think Bitconnect is a scam but will fall in a long time from now.

amiramnoam (70)in #busy • 8 years ago (edited)

I do not recommend BitConnect. It's just my opinion.(no refferals as well)
I'll do it short, I do not like long posts that need a long reading.
So the reasons are as follows:
$) I believe they really have a trading bot, I use a normal trading bot called gunbot and the percentages are really high. I believe a company worth several billion dollars can afford a profitable trading bot and hire 1000 talented programmers to create one.
A combination of Ponzi and Algotrade? Maybe..

the gains from my gunbot(USDT/BTC)

$$) Of course, you can not divide a percentage forever (certainly not 1 percent) but you get daily "dollars" as a daily reward based on the value of the Bitcoin you put in the time of the loan and BitConnect pay in their own currencies after they staking into millions of currencies accompanied by BCC COINS And every coin has a value of 390 dollars! And so they can pay, people in exchange for these coins pay in Bitcoin to put in loans and so the loop will last a long time! For example, at the time of my loan, I gave their "bot" 1,000 BCCs worth $ 10k. I would get 1 percent a day from $ 10,000. But in BitConnect, I would not get the percentage of BitConnect or Bitcoin coins but in dollars

$$$) In addition, they have an internal exchange that maintains their currency value and they can manipulate the currency within the platform itself. For example, if there is a fluctuation of more than 10 percent, the positive interest rate can not be realized for an hour. Which creates a greater demand than supply for one hour! it's huge time in terms of crypto
THE INTERAL EXCHANGE (MAIN TRADING VOLUME)

In summary: As long as their currency will rise in dollar value .. Whether they have Allegotrade or not they will be able to pay the huge amounts they have to pay a day.
How long? I believe that the cryptographic currency market will take up nearly 50% of the world's money.
These are just some of the reasons why they will survive (I do not even speak about the value of their currency rising madly) .
in someday peoples will lose a lot of money from that. don't risk more then you can if you take part of this

#bitconnect #crypto #bitcoin

8 years ago in #busy by amiramnoam (70)

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sameer62 (57) 8 years ago

nice post informative thanks for share.

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vm2904 (64) 8 years ago

@amiramnoam - I have seen lending type crypto businesses pay out a very attractive payout in the beginning, to attract more deposits. Then when the deposits grow very large and payouts become very high, they just fold up and disappear. I am not saying Bitconnect may do that but from your analysis, it looks like a possibility. Will keep an eye out to check for signs.
Thanks for your involved analysis. Upvoted full.

Regards,

@vm2904

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amirl (63) 8 years ago (edited)

Nicely written. I think in the title you should add "not" a scam. I know you were one of the fans of bcc when they started, because you have recognized the strength of the idea. I admire your ability to make an updated analysis on the issue and change your opinion. This is a very important ability to be flexible in mind. I hope to get better at it myself. Just in case if you change your mind about steemit please let me know :)

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