My Honest Thoughts On Bitconnect
For a while now, I've refrained from posting anything on here about this controversial program due to fear of getting flagged. Then I thought, this is "the blockchain". We are in this decentralized space where no one should be censored or banned for expressing a thought or a feeling.
If this post gets flagged, then I would be more worried that this decentralization thing is not really what we think it is.
Watch the video below if you wanna hear what I want to say, but if you prefer a text version, here it goes:
I joined Bitconnect (<-- warning: this url is my referral link) a month ago with a confidence level of 80%. I joined anyway because I had a good feeling about it despite of the negative remarks about the program. I wanted to see how they would handle things on the day of the fork on August 1. Besides, this was a really good time to run off with inverstors' money considering all bitcoin operations are shut down during this time.
To my surprise, they continued to pay out daily interests surrounding this date even after announcing the halt of operations while the fork is happening. In addition, they also surprised everyone with a Bitcoin Cash wallet in the backoffice. Scammers would not bother doing that! Furthermore, they are successfully holding workshops and seminars in their new office in Indonesia. Again, scammers wouldn't bother doing that! My confidence level has soared to 95% at this point.
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What I realized is this - there really is an actual team behind this company that are hard at work in making this venture a success. They're proving themselves without really trying to. Day in and day out, their system works flawlessly. They haven't given us a single reason to doubt them. Not one reason. So, I realized, all the negativity surrounding Bitconnect is not coming from within, but only from crazy youtubers and bloggers who are not even in the program to see for themselves. They see a pyramid structure compensation plan, and they scream scam.
Did you know that social security is designed as ponzi? The money that we pay as social security tax is being used to pay those
who are currently receiving retirement money. The thing is, this design is not a bad thing. It's only bad when it's done in a fraudulent way - and I don't believe Bitconnect is fraudulent.
That's all I have to say.
Click below for the video version:
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for a while I am considering it trying it.
Maybe I give it a shot
30 days ago, I was at that stage. I sold some stuff I don't need and tried it with the minimum investment. With my current confidence level, I'm going in with more investment as soon as I get more funds.
I will take a closer look into it.
But there is so much good news it is hard to ignore. But I am still very suspicous about it.
I know what you mean. Just remember, all the bad stuff you hear about it, are just from youtubers and bloggers who want to bring the program down. Bitconnect itself, has not done a single bad thing for over a year now. Any member you ask, they'll tell you how good this company is.
Bitconnect is a money making SCHEME more than a SCAM. The whole idea is that there is a legitimate cryptocurrency but they do 95% of the trading volume on their own website. You must buy their token anytime you: Lend to their lending bot (loan), reinvest or simply invest (by buying their token for long term), cash out from fiat BACK to BTC.
The trick is that all of their payments are in FIAT not in their token or in BTC which both keep going up in price over time. The truth is that reinvesting your USD back into their token daily is the best idea to make the most $$ percentage-wise rather than just holding the fiat in your lending wallet.
Do not "reinvest" into new loans (which lock up your money for 299 days) however since there is no guarantee they will be here in a year... Better idea to just take the free money and stack it back into their token which will probably be double the price in only a few months.
Yeah, staking is always good with Bitconnect. The locking up for 299 days is a scary thought, but another strategy is, to cashout your interest earnings for 60 days (not reinvest). In my experience, starting off at $100, I already gotten paid almost $50 in interests. At that rate, I get the initial investment in 60 days. Then re-invest all the profits thereafter (pure profit).