I am very curious about this also, i am afraid its a scam and thats the reason i havent invested there yet...
Though, what could really happened is, that bitconnect is a ponzy scheme scam that actually turned out well and works, for the only reason they are using a blockchain and have their own coin, even if the coins arent traded anywhere...
Still there is a chance the system could collapse soon or late, no one can know for sure, but every coin or bussines can collapse, so thats not really a reason to believe its a cam...
Also the other reason that keeps me away, is the fact that my investment would be locked in for almost 1 year... I cant do that yet...
Yes exactly, it works because they are in control of their own coins. They can create however many they need to keep the scam going. Even though I'm not sure how it works exactly it is obviously quite a clever system. It's already been going for over 6 months and shows no sign that it's about to come to an end imminently. Also you aren't totally right about your investment being locked up for 1 year because it only takes about 100 days to earn enough interest to cover what you put in. For example. If you put in $100 and earned 1% per day after 100 days you would have earned your $100 back. That then keeps going for 300 days by which point you would have earned $300 and also received your $100 initial capital back giving you a total return after 300 days of $400 for every $100 you put in. Of course this is high risk, that's why I will be pleased if it just lasts 100 days so that I can get the $1100 i put in back, anything else will be a bonus but if I'm wrong about BitConnect and it lasts another 300 days I will have earned around $4500 in that time. That's a very good risk/reward ratio in my opinion.
Wow, is it really that much of earning?... That makes it even more suspicious... Although many people is using it and have a lot invested there... Maybe i should try with a small amount...
Yes really! I've seen some people say that many traders actually earn a lot more than that so BitConnect could be legit but to me it still seems too good to be true. I was actually tempted to put a lot more in because the returns are so high but had to restrain myself and not get greedy. As with anything the key is to not to put in more than you can afford to lose
Exactly... I cant afford loosing 100$ yet... But maybe i can try later... Also the more time the site is up, the higer chances it is legit...
Exactly! If it's still up and running in a year or two I might consider investing more